（文章来源：每日经济新闻） 朗新集团（SZ 300682，收盘价：23.24元）8月21日晚间发布半年度业绩报告称，2025年上半年营业收 入约15.42亿元，同比减少0.39%；归属于上市公司股东的净利润约2864万元，同比减少23.02%；基本每 股收益0.0262元，同比减少24.06%。 ...

Core Viewpoint - Kingsoft Software reported a decline in revenue for Q2 2025, with a total revenue of 2.307 billion RMB, a year-on-year decrease of 7% and a quarter-on-quarter decrease of 1% [1][2]. Revenue Breakdown - The revenue from the office software and services segment reached 1.356 billion RMB, representing a year-on-year growth of 14% and a quarter-on-quarter growth of 4%, accounting for 58.77% of total revenue [2][3]. - The revenue from the online gaming and other segments was 951.76 million RMB, showing a significant year-on-year decline of 26% and a quarter-on-quarter decline of 8%, making up 41.26% of total revenue [2][6]. Profitability - Gross profit for the quarter was 1.854 billion RMB, down 9% year-on-year, with a gross margin of 80%, a decrease of 3 percentage points compared to the previous year [1][2]. Growth Drivers - The growth in the office software segment was primarily driven by the performance of WPS 365 and personal WPS services, supported by enhanced product capabilities and AI features [3][5]. - As of June 30, 2025, WPS Office had 651 million monthly active devices, an increase of 8.56% year-on-year, with paid user numbers rising by 9.54% to 41.79 million [3][5]. Challenges in Gaming Segment - The gaming segment faced challenges, particularly with the performance of the games "Dust White Zone" and "Jian Wang 3," which saw significant revenue declines due to high comparative figures from the previous year [6][8]. - The overall decline in the online gaming segment reflects broader market trends, with the two-dimensional mobile game market experiencing an 8% drop in actual sales revenue in the first half of 2025 [9]. New Game Launches - The recent launch of the mech shooting game "Limitless Machine" has not met expectations, with a significant drop in player numbers shortly after release [9][13].

每经头条（nbdtoutiao）——核心产品净值仅剩7毛钱，昔日"公募一哥"任泽松怎么了？牛市踏空真相曝 光 （记者 曾健辉） 每经AI快讯，朗新集团（SZ 300682，收盘价：23.24元）8月21日晚间发布公告称，公司第四届第三十 三次董事会会议于2025年8月21日在无锡市新吴区净慧东道118号朗新科技产业园以现场结合通讯方式召 开。会议审议了《关于2025年半年度报告及其摘要的议案》等文件。 2025年1至6月份，朗新集团的营业收入构成为：公共服务占比55.98%，智慧能源及创新业务占比 30.6%，互联网行业占比13.42%。 截至发稿，朗新集团市值为251亿元。 ...

Core Viewpoint - The company plans to issue A-shares to specific investors in 2025, which will dilute immediate returns but includes measures to compensate for this dilution [2][6][9]. Financial Impact of the Share Issuance - The total amount raised from the issuance will not exceed 248.85 million yuan [3]. - The company's total share capital will increase from 54,332.59 thousand shares to 105,242.23 thousand shares post-issuance [4]. - The net profit attributable to shareholders is projected to remain flat, grow by 10%, or grow by 20% compared to 2024, affecting earnings per share [4][5]. Earnings Per Share Projections - If net profit remains flat, basic and diluted earnings per share will decrease from 0.65 yuan to 0.40 yuan [4]. - With a 10% growth in net profit, basic and diluted earnings per share will decrease to 0.44 yuan [5]. - With a 20% growth in net profit, basic and diluted earnings per share will decrease to 0.48 yuan [5]. Rationale for Fundraising - The fundraising is aimed at optimizing the business structure, enhancing industry position, and improving core competitiveness and profitability [6]. - The projects funded will support the company's strategic initiatives in commercial aerospace and digital transformation [6][7][8]. Relationship of Fundraising Projects to Existing Business - The projects include the construction of a cloud platform for aerospace information, which is crucial for the company's full industry chain strategy [6]. - The low-altitude cloud service platform will extend the company's service capabilities into the low-altitude sector [7]. - The big data intelligent analysis platform will enhance the company's transition from aerospace information to a comprehensive information enterprise [8]. Measures to Mitigate Dilution of Immediate Returns - The company will strengthen the management of raised funds to ensure effective use [9]. - Operational management will be enhanced to improve efficiency and reduce costs [9]. - The profit distribution policy will be refined to optimize investor returns [10]. Commitments to Ensure Implementation of Compensation Measures - Company executives and controlling shareholders have committed to ensuring the effectiveness of the compensation measures for diluted returns [11][12].

Core Viewpoint - The company has announced a reduction in the total amount of funds to be raised through a specific issuance of A-shares for the year 2025, adjusting the total from RMB 250 million to RMB 248.84682 million [1][2]. Summary by Sections Fundraising Adjustment - The total amount of funds to be raised through the issuance has been adjusted from RMB 250,000,000 to RMB 248,846,820, with the net amount intended for specific projects [1][2]. - The company will allocate the net proceeds from the fundraising to two main projects: the low-altitude cloud supervision and flight service digital infrastructure platform, and the defense and public safety big data intelligent analysis platform [2]. Project Investment Details - The total investment for the projects is RMB 256,025,290, with the adjusted fundraising amount of RMB 248,846,820 allocated accordingly [2]. - The company’s board may adjust the order of fund allocation and specific investment amounts based on actual project needs after the funds are raised [2]. Other Information - Aside from the adjustments mentioned, there are no other changes to the issuance plan [3].

Fundraising Plan - The company plans to raise a total of RMB 248,846.82 million through a targeted stock issuance, with the net proceeds allocated to specific projects [1] - The total investment for the projects is RMB 254,872.11 million, indicating that any shortfall in raised funds will be covered by the company’s own resources [1] Project Overview - The "Star Map Cloud Space Information Cloud Platform" project has a total investment of RMB 77,397.04 million and aims to build a comprehensive cloud platform for space information [1] - The project is expected to take 36 months and is located in Hefei, Anhui Province, focusing on creating a robust developer ecosystem for space information applications [1] Industry Growth - The commercial aerospace industry in China has seen rapid growth, with market size increasing from RMB 0.6 trillion in 2018 to RMB 1.9 trillion in 2023, reflecting an annual growth rate of 23% [2] - The industry is projected to exceed RMB 2.3 trillion in 2024, driven by increased launch activities and supportive government policies across various regions [2] Technological Advancements - The rise of artificial intelligence and advanced computing technologies is transforming the aerospace industry, necessitating the development of new applications and platforms [3][4] - The company aims to leverage these technological advancements to enhance its existing digital earth platform and improve its competitive edge [4] Strategic Positioning - The company is positioning itself to become a leading provider of space big data systems and services, aligning with national policies that support the aerospace industry [5][6] - The strategic focus includes expanding into satellite manufacturing, rocket operations, and satellite applications, which are essential for the company's growth [5] Project Significance - The "Star Map Low Altitude Cloud Supervision and Flight Service Digital Infrastructure" project has a total investment of RMB 66,765.09 million and aims to create a comprehensive digital service platform for low-altitude operations [8] - This project is crucial for enhancing low-altitude flight safety and efficiency, responding to national strategies for low-altitude economic development [9] Market Opportunities - The low-altitude economy is emerging as a new growth engine for the domestic economy, with increasing demand for digital infrastructure and services [10][12] - The company is actively developing a low-altitude cloud service platform to capitalize on this market opportunity and enhance its service offerings [11] Financial Health - The company has experienced significant revenue growth, with a 51.62% increase in revenue, necessitating additional working capital to support ongoing operations [24] - The fundraising will improve the company's capital structure and financial stability, enabling it to pursue strategic initiatives effectively [26] Conclusion - The fundraising and associated projects align with national development policies and the company's strategic goals, promising substantial economic and social benefits [26] - The successful implementation of these projects is expected to solidify the company's leading position in the aerospace industry and enhance shareholder value [26]

Investment Rating - The report maintains a "Buy" rating for the company [2][7] Core Insights - The company's H1 2025 performance met expectations, with total revenue of 2.657 billion yuan, a year-on-year increase of 10.1%, and a net profit attributable to shareholders of 747 million yuan, up 3.6% year-on-year [7] - The acceleration of AI commercialization is highlighted, particularly through the growth of WPS 365, which saw a revenue increase of 62% year-on-year [7] - Monthly active users (MAU) reached 650 million, with a significant increase in AI users, indicating a strong user engagement and potential for revenue growth [7] Financial Data and Profit Forecast - Total revenue projections for 2025 are estimated at 6.036 billion yuan, with a year-on-year growth rate of 17.9% [6] - The net profit attributable to shareholders is forecasted to reach 1.919 billion yuan in 2025, reflecting a growth rate of 16.6% [6] - The company’s gross margin is expected to remain strong, with estimates of 85.4% for 2025 [6]

Core Viewpoint - The recent investigations into senior executives of Dameng Data have raised concerns about the company's governance and potential impacts on its operations and stock performance [1][2]. Group 1: Executive Investigations - Dameng Data announced that its Senior Vice President Chen Wen is under investigation by the Hubei Provincial Supervisory Committee, following the earlier announcement regarding the investigation of General Manager Pi Yu [1]. - This marks the second announcement of executive investigations within three days, indicating potential governance issues within the company [1][2]. Group 2: Company Operations - Despite the investigations, Dameng Data stated that its daily operations and business activities are proceeding normally, and the company is committed to monitoring the situation closely [1]. - Dameng Data, established in 2000, is a leading database product developer in China, providing a range of database software and related services to prominent clients across various sectors [4]. Group 3: Stock Performance - Following the announcement of Pi Yu's investigation, Dameng Data's stock price fell significantly by 8.44% on August 20, but has since rebounded with a 3.97% increase, closing at 236.86 yuan per share [2].

在善谋AIGC平台的赋能下，赛意信息垂类行业AI大模型解决方案的效果显著，应用场景效率明显提 升，为制造业的智能化升级提供了有力支撑。以 PCB AI 大模型解决方案为例，在图纸解析方面，处理 时间从原来的小时级大幅压缩到分钟级，复杂图纸处理更是从十几小时缩短至 30-40 分钟，其效率优势 十分显著。得益于优异的性能，智能制造领域在公司AI收入中的占比已经达到了40%。 同时，赛意信息还横向拓展其他领域，目前已在光伏领域丝网印刷工艺领域推出了相应的解决方案，未 来还计划在装备等领域投入预研，不断拓展业务版图。随着制造业客户在大模型生成式AI能力应用方 面的需求不断攀升，企业级市场在AI方面的付费意愿正逐步提升，未来公司在AI应用方面的收入有望 持续增加。 除此之外，赛意信息还与华为联合推出基于华为IDME模型的iMOM，这是双方携手打造的新一代 MOM 行业产品解决方案。该方案基于华为云工业数字模型驱动引擎DME 和数字化制造云平台MBM Space平台构建，采用Center-Site架构，支持集团化、链主和产业集群统一管理，以及云边端弹性部署， 能够有效解决自动化工厂边缘采集的高频率、高稳定需求。 8月2 ...

Group 1 - Nearly 1,000 applications in Beijing have completed adaptation to the HarmonyOS, covering key areas such as government services, finance, healthcare, transportation, and education [1] - The domestic operating system HarmonyOS, which does not rely on foreign programming languages and core operating system kernels, has gained significant attention since its launch in October last year [1] - Local enterprises in Beijing are actively engaging in the construction of the HarmonyOS ecosystem, exploring innovative possibilities in various scenarios such as transportation and enterprise office [1] Group 2 - The feature of "one development, applicable across multiple devices" in HarmonyOS significantly reduces the time cost of technical development for companies [1] - E-DaiJia has reported improved user experience after switching to HarmonyOS, with applications running faster and more smoothly, addressing previous user feedback on performance issues [1] - E-DaiJia is developing HarmonyOS applications for vehicle systems, enabling seamless connectivity between mobile devices and vehicle displays [1] Group 3 - Beijing Zhizhangyi Technology Co., Ltd. has integrated its security capabilities with the features of HarmonyOS, achieving multiple results in the government and enterprise market [2] - Over 100 general office platforms have been adapted to HarmonyOS, with more than 50,000 quick applications supported, covering over 38 million enterprises [2] - The Guangdong provincial government has launched the HarmonyOS version of the Yuezhengyi app, becoming the first native government application with over one million users [2]