Group 1 - The core viewpoint emphasizes the need for the digital and intelligent transformation of the manufacturing industry and the innovation development of state-owned enterprises, aligning with the spirit of the 20th Central Committee of the Communist Party of China [1][2] - The focus is on integrating artificial intelligence with enterprise research and development, production, and manufacturing processes to enhance high-quality development in the manufacturing sector [1] - There is a call for state-owned enterprises to improve their independent innovation capabilities and to increase investment in basic research, particularly in key and frontier technologies [2] Group 2 - The initiative includes the establishment of verification platforms for concept and pilot testing, promoting a cycle of technological breakthroughs, scenario validation, and industrial application [2] - Encouragement for leading enterprises to build internationally advanced "lighthouse factories" and smart production lines, while guiding small and medium-sized enterprises to accelerate their digital transformation [1] - Collaboration between state-owned enterprises, universities, research institutions, and private enterprises is essential to optimize the innovation ecosystem and enhance overall collaborative innovation efficiency [2]

本报讯(记者袁传玺)天眼查工商信息显示，近日，海南数据产业服务有限公司成立，注册资本1亿元， 经营范围包括第一类增值电信业务、第二类增值电信业务、互联网直播技术服务、信息网络传播视听节 目等。股东信息显示，该公司由中国电信（601728）旗下天翼资本控股有限公司、海南省信息产业投资 集团有限公司共同持股。 ...

Group 1 - The company is deeply involved in the formulation of data element industry policies [1] - The company is participating in a significant project commissioned by the State-owned Assets Supervision and Administration Commission (SASAC) regarding the research on the rights confirmation and trading property rights system for state-owned data assets [1] - The company is also involved in the preparation of the "Data Element Circulation Standardization White Paper (2024)" [1]

Core Viewpoint - Shanghai Steel Union (300226) held an earnings briefing on November 13, 2025, addressing investor inquiries regarding its business operations and future strategies [1]. Group 1: Business Operations - The company has not yet engaged in stablecoin business but is open to exploring it in compliance with national regulations [1]. - The company acknowledged the complexity of its business model and is considering a name change to better reflect its diverse operations [1]. - The company confirmed that its production and operations are normal despite the pledge of shares by its controlling shareholder, and there are no plans for share sales [1]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 57.318 billion, a year-on-year decrease of 10.65%, while net profit increased by 31.78% to 168 million [4]. - The third quarter alone saw a main revenue of 22.926 billion, a year-on-year increase of 13.21%, with net profit rising by 13.7% to 49.08 million [4]. - The company is focusing on improving overall profitability through enhanced data quality, service fee increases, and operational efficiency [2][4]. Group 3: Strategic Initiatives - The company aims to strengthen its industrial data service capabilities and enhance its digital transformation to drive growth [4]. - It is committed to internal growth while also exploring acquisition opportunities to expand its market presence [4]. - The company is enhancing its investor relations management to build confidence in its long-term value [3].

Group 1: Business Operations and Strategy - The company has not yet engaged in stablecoin business but will comply with regulations if it does in the future [2] - The company is considering a name change to better reflect its diverse business operations [2] - The company’s production and operations are normal despite the controlling shareholder's share pledge [2] Group 2: Financial Performance and Challenges - The decline in industrial data service revenue is attributed to industry challenges such as "production resilience, weak consumption, and low profits" [3] - The overall gross margin is expected to improve through enhanced data quality, service fee increases, and trade model upgrades [3] - The company acknowledges that net profit growth is primarily driven by interest from idle funds and government subsidies [3] Group 3: Future Growth and Development - The company aims to enhance its core competitiveness through technological innovation, digital transformation, and overseas market expansion [3] - The focus remains on internal growth while actively seeking acquisition opportunities [4] - The company is committed to becoming a leading integrated service provider in steel circulation by optimizing supply chain services [4]

载体建设是产业发展的坚实基石。国际航空总部园、国际再生医学产业园即将迎来开园，两大园区精准 锚定临空经济核心赛道，以高标准规划打造专业化产业空间，为相关领域企业提供从研发、生产到运营 的全链条载体支撑；已投运的大兴临空国际生物医药园、大兴机场综保区公共库、五十六度玫瑰园等成 熟项目，助力企业快速融入跨境贸易、生命健康等领域产业集群，为企业落地提供载体"硬支撑"，让合 作前景更加清晰可期。 一批具有临空特色的产业服务平台在大会上集中亮相，为企业发展提供专业"软服务"。由大兴临空国际 生物医药园与卡尔斯集团携手打造的国际口腔医学合作平台，已与全球口腔医疗巨头美国汉瑞祥集团及 其旗下德国科美勒达成全面战略合作，并与中国牙病防治基金会等构建集临床诊疗、技术研发、人才培 养于一体的国际口腔医疗服务高地；由综保区公共库与北京中健云康医药有限公司打造的医药供应链平 台致力于构建以北京为核心，覆盖京津冀200公里直配范围的高效医药物流配送网络，为药品、器械企 业提供专业化的医药仓储、医药配送、专业化订单管理等服务，全球冷链战略服务网络覆盖超120个城 市，大幅提升医药产品流通效率与国际竞争力；由新航城公司建设运营的大兴临空数 ...

Core Viewpoint - Aofei Data (300738.SZ) announced that its subsidiary, Guangdong Aofei New Energy Co., Ltd., has received an acceptance notice for its listing application on the National Equities Exchange and Quotations (NEEQ) [1] Group 1 - Aofei New Energy received the acceptance notice on November 12, 2025 [1] - The application documents submitted by Aofei New Energy met the relevant requirements for acceptance as per the NEEQ listing rules [1] - The acceptance notice is identified with the number GP2025110003 [1]

Core Viewpoint - The company is actively building a high-end GPU computing server cluster and has established a distributed computing network in key domestic locations and overseas markets [1] Group 1 - The company has set up distributed computing networks in Shanghai, Ningbo, Chengdu, Ulanqab, Southeast Asia, and the United States [1] - The company currently has a substantial backlog of orders and is actively advancing the delivery of these orders [1]

Core Insights - The urban trusted data space is a government-led data infrastructure that facilitates the development and utilization of urban data resources, serving as a key carrier for trusted data space [1][2] Development Drivers - **Policy**: The establishment of urban trusted data spaces is encouraged through a series of top-level designs and strategic plans aimed at promoting the compliant and efficient circulation of data [4][5] - **Technology**: Privacy computing and blockchain technology are introduced to address the challenges of trusted data circulation, enabling data sharing while ensuring compliance and security [5][6] - **Demand**: Urban areas face challenges in data resource development and utilization, which the trusted data space aims to address by providing a secure and compliant environment for data circulation [8] Value Proposition - The urban trusted data space aims to break down data circulation barriers, activate the potential of data elements, and promote the modernization of urban governance [11] Overall Framework - The urban trusted data space is built around a foundational infrastructure, two major platforms, and aims to empower urban digital transformation [13] Core Capabilities - The core capabilities of the urban trusted data space include trusted control, resource interaction, and value co-creation, which are essential for establishing a trusted data circulation infrastructure [16] Industry Chain and Ecosystem - The urban trusted data space involves five main entities: operators, data providers, data users, data service providers, and regulatory bodies, each playing a crucial role in the ecosystem [21] Competitive Landscape - In the technical service sector, comprehensive and specialized service providers compete, with ICT background cloud service providers leading the market [24] Application Scenarios - **Government Services**: The urban trusted data space facilitates inter-departmental data connectivity, enhancing government services and decision-making [27] - **Inclusive Finance**: By integrating government and financial data, the urban trusted data space supports the development of dynamic risk assessment models for inclusive finance [30] Case Studies - **Zhangjiakou Trusted Data Space**: This initiative employs a "one space, four platforms, one system" architecture to support the secure circulation of public and social data [33][35] - **Shanghai Trusted Data Space**: This project leverages blockchain technology to meet the complex data needs of a megacity, facilitating the secure and efficient use of data [37][39] Technical Trends - AI technology is becoming a key driver in enhancing data governance efficiency within urban trusted data spaces, transitioning from manual to automated governance strategies [42] Future Trends - The urban trusted data space is expected to evolve from pilot projects to a collaborative ecosystem, attracting industry and enterprise participation to explore vertical applications [44][45]

Core Viewpoint - *ST Zhengping has completed its stock trading review and will resume trading on November 12, 2025, after a significant stock price increase of 152.42% from September 1 to October 28, 2025, indicating potential market overheating and irrational speculation risks [2][3]. Group 1: Stock Trading and Review - The stock of *ST Zhengping was suspended from trading for review due to concerns over excessive price increases and potential risks [2][3]. - The review confirmed that non-operating fund occupation has been fully repaid, but the company faces significant uncertainties regarding its mineral resource mining capabilities and risks of delisting [3][4]. Group 2: Financial Performance - For the year 2024, *ST Zhengping reported a revenue of 1.362 billion yuan and a net loss of 484 million yuan, with a net loss of 990 million yuan for the first three quarters of 2025 [7]. - The company has been actively expanding into new business areas such as renewable energy construction and intelligent computing services to foster new growth points [7]. Group 3: Mining Operations and Risks - The company has received a mining license but lacks sufficient mining capacity, requiring significant investment for future development, which is uncertain due to financial constraints [6][7]. - As of June 30, 2025, the company had 102 million yuan in cash, with 81.6642 million yuan restricted, and a high debt ratio of 92.22% [6]. Group 4: New Business Ventures - *ST Zhengping has established a partnership with Hangzhou Bingtai Technology Co., focusing on data software development and computing services [8][10]. - The company is working on collaborative projects with local governments to develop intelligent computing and renewable energy initiatives [7].