2025 年信创资金缩减导致国产化项目招标集中于第四季度，硬件设备 占比增加，软件（尤其是数据库）占比相对减少，预计 2026 年将迎来 国产化项目集中爆发期。 2025 年国内数据库市场份额前三名预计为华为、腾讯和金仓。达梦因 技术路线规划问题，未能充分参与前期测试与竞争。腾讯凭借政企用户 积累和灵活销售方式占据较大份额，华为则通过硬件优势进行整体打包 销售。 2025 年，开源数据库（MySQL 和 PostgreSQL）在应用系统替换中广 泛应用，但与 Oracle 兼容性较差。金仓因其基于 PG 内核开发，适配工 作量小，成为客户首选。 受经济环境影响，2025 年 IT 投入缩减，财政拨款项目规模缩小，央国 企自筹资金项目启动规模减少，部分新购项目延后。国产数据库替换进 入核心区，对数据要求更高。 国产数据库市场以 PG 系为主导，占比约 60%-70%。MySQL 技术线已 被国家锁定。各厂商纷纷宣传在核心业务系统替换中的能力。 Q&A 中国信创数据库产业全景展望 20251125 摘要 国产数据库厂商如达梦、金仓、OceanBase 和华为高斯的性能如何对比？ 在国产数据库领域，达梦和金仓是传统 ...

一水 发自 凹非寺 量子位 | 公众号 QbitAI AI时代，真是啥都要快。 三行代码构建一个AI应用 ，现在就这样被 蚂蚁OceanBase 游刃有余地实现了。 熟悉数据库的朋友都知道，OceanBase是蚂蚁集团于2010年发布的一款全自研的 国产企业级分布式关系数据库 。 历经15年迭代升级，如今它不仅在权威测评中稳居国产数据库第一梯队，其稳定性更是经过了"双十一"等高并发场景的持续验证。 悄悄补充一句，OceanBase还在现场秀出了最新成绩单——全球客户数已突破4000家，连续五年年均增速超100%，服务覆盖16个国家和地 区、60多个地域、240多个可用区。 而且截至今年5月，经过四年开源实践， OceanBase已形成拥有超过25000名开发者的活跃社区，累计下载量突破百万 。 但随着AI时代的到来，OceanBase也迎来了新的考验： AI时代需要怎样的数据库？OceanBase如何继续保持领先？ 一切答案，都藏在刚刚落幕的 2025 OceanBase年度发布会 上了—— 这一次，他们不是用语言，而是用实打实的 产品 给出最新思考。 面向AI时代的原生混合搜索数据库 具体而言，OceanB ...

——在达梦数据，工程师们推动数据库管理系统迭代升级，为AI时代的数据安全护航，保障关键行业 不被"卡脖子"； ——在三特索道，通过山水音乐会、非遗时装秀等创新营销成功"出圈"，开辟文旅产业高质量发展新路 径。 这些企业的生动实践，源于湖北持之以恒将发展着力点放在实体经济上，以科技创新引领产业创新。 于长江经济带高质量发展中奋勇争先，加快建成中部地区崛起重要战略支点——湖北，正将这份宏大的 战略蓝图，书写在产业升级的第一线。 企业是区域经济最活跃的细胞，上市公司更是引领创新的排头兵。近日，上海证券报调研组深入湖北多 家上市公司，感受到来自企业一线的强劲脉动： ——在中信特钢，从深中通道的"生命线"到万米油田的"钻探针"，从航空发动机的"轴承芯"到氢能装备 的"输气脉"，一项项"卡脖子"技术在此被突破，支撑着大国重器的制造； ——在理工光科，一条特殊光缆将道路划分为单元格，实现全时全域监测，为智能交通构筑起"看不见 的安全冗余"； 2025年前三季度，湖北生产总值同比增长6.0%，以"好于同期、高于全国"的昂扬姿态，跑出了发展加速 度，为圆满完成"十四五"规划目标奠定了坚实基础。 "十五五"规划建议提出，建设现代 ...

Core Insights - The article highlights the evolution of Dameng Data from a domestic database pioneer to a potential world-class database brand, emphasizing the importance of self-developed core technology in the face of global competition [4][8]. Company Development - Dameng Data was founded with the vision of creating a Chinese database, driven by the founder's belief in the necessity of mastering core technology for independence and innovation [5][6]. - The company has achieved significant market penetration, with over 90% coverage in certain industry scheduling systems, showcasing its capability to replace foreign products in critical sectors [6]. Technology and Innovation - Dameng Data emphasizes 100% self-researched core source code, which allows for complete control over security and technology, distinguishing it from competitors that rely on open-source solutions [5][6]. - The relationship between AI and databases is highlighted, with Dameng Data developing full-stack products to meet the diverse data needs of AI applications, thus enhancing performance and efficiency [7]. Future Aspirations - The company aims to establish itself as a world-class database brand, with plans to expand into international markets, particularly in Southeast Asia, Central and Eastern Europe, and countries involved in the Belt and Road Initiative [8][9]. - Dameng Data is committed to continuous innovation and talent development, fostering a culture that emphasizes execution, learning, and teamwork [9].

Core Viewpoint - Wuhan Dameng Database Co., Ltd. is participating in the establishment of an equity investment fund, aiming to invest in the database industry chain to enhance its business capabilities and product competitiveness [2][3]. Group 1: Investment Details - The company will contribute 100 million yuan, while the Greater Bay Area Technology Innovation Industry Investment Fund and Zhongwan Private Equity will contribute 100 million yuan and 2 million yuan, respectively, to establish the Zhongwan Dameng M&A (Hefei) Equity Investment Fund Partnership [2][3]. - The total subscribed capital for the fund at establishment is 202 million yuan, with the company holding a 49.505% stake [3]. - The fund's investment focus will be on the database industry chain, particularly aligning with Dameng Data's strategies for strengthening, supplementing, and expanding the chain [2][3]. Group 2: Fund Management and Structure - The fund will have a lifespan of five years, including a three-year investment period and a two-year exit period, with possible extensions [23]. - The fund management will be conducted by Zhongwan Private Equity, which is a registered private equity and venture capital fund manager in China [9][11]. - The investment decision-making will be overseen by a committee composed of five members, ensuring professional management of investment operations [15]. Group 3: Impact on the Company - The investment is expected to enhance the company's position in the database industry chain and improve shareholder returns without affecting its normal business operations [27]. - The funding will come from the company's own resources, ensuring that it does not impact the company's financial and operational status significantly [27].

（文章来源：证券日报） 证券日报网讯 11月7日晚间，达梦数据发布公告称，武汉达梦数据库股份有限公司（以下简称"公 司"或"达梦数据"）出资1亿元、粤港澳大湾区科技创新产业投资基金（有限合伙）（以下简称"大湾区 基金"）出资1亿元、中湾私募基金管理有限公司（以下简称"中湾私募"）出资200万元共同设立产业基 金中湾达梦并购（合肥）股权投资基金合伙企业（有限合伙）（暂定名，以企业登记机关最终核准为 准，以下简称"合伙企业"或"本基金"）。投资方向为数据库产业链企业，重点围绕达梦数据的强链、补 链、拓链进行前瞻性布局投资。 ...

Core Viewpoint - The company, Dameng Data (688692.SH), plans to establish an industrial fund named Zhongwan Dameng M&A (Hefei) Equity Investment Fund Partnership (Limited Partnership) in collaboration with the Greater Bay Area Fund and Zhongwan Private Equity to invest in projects related to the database industry chain, aiming to further expand both horizontal and vertical development opportunities [1] Group 1 - The total subscribed capital amount for the fund at the time of establishment is 202 million yuan, with the company intending to subscribe 100 million yuan, accounting for 49.505% of the total subscribed capital [1] - The partnership will conduct one or more follow-up fundraising rounds within 12 months from the first delivery date, according to applicable legal regulations [1] - The total subscribed capital amount of the fund after the follow-up fundraising will not exceed 1 billion yuan [1]

Core Points - The company, Wuhan Dameng Database Co., Ltd., has announced the convening of its fifth extraordinary general meeting of shareholders in 2025, scheduled for November 20, 2025 [1][5]. Group 1: Meeting Details - The extraordinary general meeting will be held on November 20, 2025, at 14:30 at the company's headquarters [5]. - The meeting will utilize a combination of on-site and online voting methods, with online voting available through the Shanghai Stock Exchange's system [5][2]. - The voting period for the online system will be from 9:15 to 15:00 on the day of the meeting [2]. Group 2: Voting Procedures - Shareholders can vote through the Shanghai Stock Exchange's online voting system or in person, with specific procedures outlined for different types of shareholders [3][7]. - The meeting will not involve public solicitation of shareholder voting rights [4]. - All proposals submitted for voting have been approved by the company's board and supervisory committee prior to the meeting [6]. Group 3: Attendance and Registration - Shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on the day before the meeting are eligible to attend [10]. - Registration for attendance must be completed by November 19, 2025, either in person or via email [12][14]. - Specific documentation is required for both individual and institutional shareholders to register for the meeting [16]. Group 4: Contact Information - For inquiries regarding the meeting, shareholders can contact Ms. Bu Jinghong at the provided phone number or email address [18].

Market Overview - The domestic market indices showed a decline, with the Shanghai Composite Index closing at 3,954.79, down 0.81% [2] - The Shenzhen Component Index and the CSI 300 also experienced declines of 1.14% and 1.47% respectively [2] Agricultural Sector - The company "Juxing Agriculture" reported a continuous increase in pig output, with a total of 293,000 pigs sold in the first three quarters of 2025, generating sales revenue of 5.153 billion [6] - The company aims to control breeding costs through various efficiency measures, despite a decline in pig prices leading to a drop in profitability in Q3 [6] New Materials Sector - "Jundingda" achieved a revenue of 728 million in the first three quarters of 2025, marking a year-on-year growth of 23.43% [5] - The company reported a net profit of 137 million, up 18.82%, with a gross margin of 40.38% and a net margin of 18.86% [5] Military Industry - "Inner Mongolia Yijian" reported a revenue of 7.894 billion in the first three quarters of 2025, a year-on-year increase of 11.07% [10] - The net profit reached 386 million, up 6.18%, driven by improvements in profit margins and growth in unmanned and military trade sectors [10][11] Technology Sector - "Dameng Data" reported a revenue of 2.167 billion in Q3 2025, a decrease of 6.59% year-on-year, but with an improved gross margin of 14.77% [16] - The company is focusing on expanding its military trade market and enhancing its position in high-tech weaponry [16] Energy Sector - "Baofeng Energy" achieved a revenue of 35.54 billion in the first three quarters of 2025, a year-on-year increase of 46.4% [27] - The net profit reached 8.95 billion, up 97.3%, driven by capacity release and steady progress on ongoing projects [27] Chemical Sector - "Zanyu Technology" reported a revenue of 9.676 billion in the first three quarters of 2025, with a year-on-year growth of 27.92% [20] - The net profit for the same period was 151 million, reflecting a 24.96% increase, attributed to the recovery in palm oil prices [20] Textile and Apparel Sector - "Weixing Co." reported a revenue of 36.33 billion in the first three quarters of 2025, a slight increase of 1.46% [24] - The net profit was 5.83 billion, down 6.46%, but the company is optimistic about future growth due to new factory efficiencies [24] Clinical Data Update - The clinical data for HLX43 shows promising safety advantages and potential as a cornerstone drug for tumors, with an overall response rate of 47.4% in specific patient groups [33][35]

Group 1 - The report highlights that public fund holdings in the TMT sector have reached a historical high of approximately 40%, suggesting a need for more balanced industry allocation [1][5][6] - The report indicates that the TMT sector has seen a significant increase in fund allocation, with a rise of 11.20 percentage points to 39.85%, marking a historical peak [5][6] - The report recommends focusing on sectors with better cost-performance ratios, particularly in TMT and other high-performing industries [7] Group 2 - The "14th Five-Year Plan" emphasizes strategic stability, risk response, and efficiency improvement, indicating a focus on maintaining competitive advantages in international markets [9][10] - The report outlines that the North Exchange is entering a strategic opportunity period, with a focus on product innovation and market vitality enhancement [14][16] - The North Exchange aims to support innovative small and medium enterprises and enhance market openness through various reforms [14][16] Group 3 - The report on Huace Navigation indicates that the company has shown robust performance in its core business, with a projected net profit of 7.3 billion, 9.5 billion, and 12.1 billion yuan for 2025-2027 [3][20] - The company has experienced significant growth in overseas markets, contributing to its overall revenue and profit increase [18][20] - The report notes that Huace Navigation's gross profit margin has improved, reaching 60.4% in the first three quarters of 2025 [19] Group 4 - The report on Jucheng Co. highlights a significant increase in revenue and net profit, with a 21.29% year-on-year growth in revenue for the first three quarters of 2025 [22][24] - The company has successfully expanded its high-value product offerings, leading to improved profitability [23][24] - The report emphasizes the importance of R&D investment, which reached a historical high of 1.46 billion yuan in the first three quarters of 2025 [23] Group 5 - The report on Tianhe Pharmaceutical indicates a gradual improvement in its fundamentals, with a notable increase in net profit for the third quarter of 2025 [41][43] - The company is focusing on international expansion and enhancing its service capabilities through strategic acquisitions [42][43] - The report projects significant revenue growth for Tianhe Pharmaceutical, with expected revenues of 71.93 billion, 79.78 billion, and 90.86 billion yuan for 2025-2027 [43]