迅策 20260226 摘要 公司以 AI、Data、Agent 为核心，提供全流程数据服务，并对交付结 果负责，早期聚焦东南亚金融市场，现已拓展至零售、城市运营、医药 健康等 7-8 个行业，客户包括私募基金、公募基金及中国移动等大型企 业。 收入模式以按模块收年费为主，交易模式为辅，客户粘性较高。2025 年上半年收入约 2 亿元，受客户验收延迟等因素影响，该数据参考意义 有限。公司优势在于将异构数据转化为高质量数据，并在数据与大模型 间提供适配能力。 公司不直接拥有客户数据，客户可自主选择前端工具与大模型，公司优 势在于将客户内外部异构、脏数据转化为可用的高质量数据，并在数据 与大模型之间提供适配与调优能力，形成深度绑定关系，金融等高要求 行业的长期积累带来稳定性。 公司采取自上而下拓展策略，每年进入 1-2 个新行业，从头部客户切入， 定制化交付，逐步提升标准化程度。对于 3-5 年或 5-7 年难以收敛的行 业，会暂缓进入。2026 年计划重点投入机器人训练数据平台与商业航 天。 Q&A 公司成立背景、上市与入通进展，以及当前业务定位与能力边界是什么？ 公司成立于 2016 年，2025 年 12 ...

迅策科技 20260226 摘要 讯策定位为企业连接原始数据与 AI 决策的全链路数据底座服务商，起步 于资产管理场景，后期向大模型与 Data Agent 平台延展，与 Palantir 和第四范式的发展路径有相似之处。 讯策通过 Data Agent 平台打通数据采集、治理、分析、决策与模型训 练全链路，解决企业多源异构数据实时处理及数据与大模型结合的痛点， 核心在于实时数据能力与数据智能体模式的深度绑定。 讯策于 2025 年 12 月正式上市，此前两次递表失效，主要由于港股窗 口期不利、亏损扩大及收入结构问题。第三次递表通过，得益于强化数 据合规性、隐私保护与数据治理相关论证，并给出订阅化转型时间表。 讯策的产品包括 PaaS 层面的实时数据基础设施和 SaaS 层面的应用， 最初以资产管理业务为主，后拓展至非资管类金融服务业以及电信、城 市管理、生产制造等领域，资产管理类业务占比从 2023 年的 74%降至 2025 年上半年的 47%。 讯策 2024 年营收为 6.3 亿，毛利率为 76.7%，虽仍处于亏损状态但亏 损已收窄。公司商业模式为订阅与项目交付并行，但项目交付占比偏高， 未来将提升订 ...

48% Full-Year Revenue Growth and Strong Q4 Results Anticipates ~35%+ Revenue Growth in 2026 with Expanding Customer Diversification Announces Innovations in Dataset Creation and Evaluations for LLMs, AI Agents, and Physical AI (Robotics) NEW YORK CITY, NY / ACCESS Newswire / February 26, 2026 / INNODATA INC. (Nasdaq:INOD) today reported results for the fourth quarter and the year ended December 31, 2025. ...

Group 1 - The company Jinhua Deep Space Data Technology Co., Ltd. has been established with a registered capital of 10 million RMB [1][2] - The legal representative of the company is Wu Rongzhi, and it is located in Jinhua City, Zhejiang Province [2] - The shareholders include Jinhua Wucheng Network Communication Big Data Technology Co., Ltd. holding 70% and Jinhua Jinjie Technology Co., Ltd. holding 30% [1] Group 2 - The business scope of the company includes internet data services, digital technology services, big data services, and various technical services such as consulting, development, and transfer [1] - The company is also involved in software development and sales, blockchain technology-related software and services, IoT technology research and development, and cloud computing equipment sales [1] - The company is classified under the national standard industry of scientific research and technical services, specifically in technology promotion and application services [2]

LiveRamp Holdings Inc. (NYSE:RAMP) is one of the best growth stocks to buy for the next 20 years. On February 6, DA Davidson lowered its price target on LiveRamp to $35 from $45 with a Buy rating. Although the company exceeded top and bottom-line expectations in FQ3 2026, management left its fiscal year 2026 guidance unchanged. The analyst attributed this cautious outlook to the timing of specific project-based expenses shifting into FQ4 and marketplace growth that came in softer than previously anticipate ...

Core Viewpoint - Innodata has transformed from a slow-growth company to a significant player in the AI data services market, with its stock price increasing by 2,750% over the past six years due to the rising demand for its services in AI applications [1]. Group 1: Company Overview - Innodata, which went public in 1993, specializes in content digitization, digital publishing, and data enrichment services [1]. - In 2018, the company launched a suite of task-specific microservices aimed at efficiently annotating large amounts of high-quality data for AI applications [1]. Group 2: Market Demand and Usage - The demand for Innodata's services has surged as the AI market has expanded, with at least five of the "Magnificent Seven" tech companies utilizing its services for AI-oriented data preparation [3]. - Tech companies typically allocate 80% of their time to preparing raw data and only 20% to training algorithms, highlighting the efficiency that Innodata's services provide [3]. Group 3: Financial Outlook - Analysts project that from 2024 to 2027, Innodata's revenue and earnings per share (EPS) will grow at compound annual growth rates (CAGRs) of 36% and 12%, respectively [4]. - The stock is currently valued at $42, trading at 36 times its projected 2026 EPS, and has a market capitalization of $1.4 billion, making it a potential acquisition target for larger tech companies as competition in the AI sector intensifies [4].

Core Insights - The current quarter is witnessing significant corporate earnings growth, yet the focus is shifting towards the potential threat posed by artificial intelligence (AI) [1][3] - Mentions of AI disruption in management calls have nearly doubled compared to the previous quarter, indicating rising investor concern [1] - Despite strong earnings growth, the S&P 500 has remained stagnant due to fears surrounding AI's impact on future earnings [4] Earnings Performance - Fourth-quarter earnings for S&P 500 companies are up 12% year-over-year, surpassing the initial expectation of 8.4% [3] - Over 75% of companies have reported positive earnings surprises, which is above average [3] Market Reactions - CBRE Group Inc. experienced a 20% stock selloff after its CEO suggested AI could reduce long-term demand for office space [2] - Stocks perceived to be at risk from AI have seen significant declines, with UBS Group AG reporting a 40% to 50% drop in affected stock baskets over the past year [7] Sector Impact - Media, software, and staffing sectors are identified as the most vulnerable to AI disruption, with financial and professional services also being affected recently [5] - In contrast, companies like Taiwan Semiconductor Manufacturing Co. and SK Hynix Inc. are benefiting from AI-related demand, contributing to record highs in Asian markets [6] Short Selling Trends - Short interest in stocks at risk from AI has increased, with the percentage of shares out on loan rising from about 2% to over 5% in the UBS basket [11] - Stocks such as Randstad NV and Ubisoft Entertainment SA are among those with heightened short interest [11] Capital Expenditure Trends - Despite concerns about AI disruption, capital spending by major tech companies (Amazon, Alphabet, Meta, Microsoft, Oracle) surged by 72% in 2025 and is projected to increase by another 63% this year [12] - A potential catalyst for easing market fears would be a reduction in capital spending announcements from these hyperscalers [13]

Core Viewpoint - The stock market is reacting negatively to software firms perceived as losers in the AI boom, with credit markets expected to face similar disruptions soon [1][2] Group 1: AI Disruption Impact - Tens of billions in corporate loans are projected to default over the next year, particularly affecting software and data services firms owned by private equity due to AI threats [1] - UBS analysts have updated their forecasts rapidly in response to accelerated AI disruption expectations from new models by Anthropic and OpenAI [2] - The market has been slow to react to the speed of AI disruption, necessitating a recalibration in credit evaluation methods [3] Group 2: Default Projections - UBS analysts estimate that borrowers of leveraged loans and private credit could see $75 billion to $120 billion in new defaults by the end of this year [4] - Default rates for leveraged loans and private credit are expected to increase by up to 2.5% and 4% respectively by late 2026, with these markets valued at $1.5 trillion and $2 trillion [4]

Core Insights - Maniformer, a platform for embodied intelligence data under Zhiyuan Robotics, has completed several hundred million yuan in seed and angel round financing, led by Sequoia China with participation from top investors including Dinghui VGC, BV Baidu Ventures, Yunfeng Capital, and Muhua Innovation [1][2] Financing Details - The financing will focus on technology research and development, capacity expansion, and global layout, as well as building a top-tier global data quality management system and data alliance [2] - This funding aims to strengthen Maniformer's core positioning in embodied intelligence data infrastructure, addressing industry data development bottlenecks and promoting large-scale implementation [2] Company Mission and Services - Maniformer is dedicated to solving data challenges in the embodied era, offering a comprehensive range of data services from real machines, non-embodiment to simulation [2] - The company provides end-to-end data services, positioning itself as a platform enterprise specializing in embodied intelligence data services [2]

Core Viewpoint - Reklaim Ltd. has announced the renewal of its Normal Course Issuer Bid (NCIB) to repurchase up to 10% of its public float, reflecting confidence in its consumer data privacy and monetization business [1] Group 1: NCIB Details - The renewed NCIB allows Reklaim to purchase for cancellation up to 13,053,580 common shares, which is 10% of its public float of 130,535,809 shares as of the notice date [1] - The NCIB will commence on February 17, 2026, and will terminate on February 11, 2027, or when the maximum number of shares has been acquired [1] - Purchases will be conducted through the TSX Venture Exchange at prevailing market prices, with Integral Wealth Securities Limited engaged to conduct purchases on behalf of the company [1] Group 2: Rationale for NCIB - The company believes that the current market price of its shares does not fully reflect the intrinsic value of its consumer data privacy platform and future growth opportunities [1] - Reklaim has the flexibility to allocate cash flow towards share repurchases instead of raising dilutive capital, viewing the NCIB as a prudent capital allocation tool under current market conditions [1] Group 3: Previous NCIB Activity - Over the past 12 months, Reklaim repurchased and cancelled a total of 209,000 common shares at prices ranging from approximately $0.09 to $0.097 per share [1]