Group 1 - The core viewpoint of the article is that Qiming Star (002439) clarifies its business focus on providing cybersecurity products, services, and comprehensive solutions, explicitly stating that it does not engage in IT infrastructure businesses such as liquid cooling servers [1] Group 2 - The company emphasizes its commitment to cybersecurity and does not plan to enter the liquid cooling server market [1]

9月11日，安博通涨5%，截至发稿，报105.00元/股，成交1.61亿元，换手率2.05%，总市值80.70亿元。 资料显示，北京安博通科技股份有限公司位于北京市海淀区西北旺东路十号院东区15号楼A座301，成 立日期2007年5月25日，上市日期2019年9月6日，公司主营业务涉及网络安全核心软件产品的研究、开 发、销售以及相关技术服务,为网络安全行业网络安全系统平台与安全服务提供商。主营业务收入构成 为：安全网关39.47%，安全人工智能35.21%，安全管理18.05%，安全服务7.15%，其他(补充)0.12%。 从基金十大重仓股角度 数据显示，广发基金旗下1只基金重仓安博通。广发改革混合（001468）二季度持有股数6.89万股，与 上期相比持股数量不变，占基金净值比例为2.48%，位居第四大重仓股。根据测算，今日浮盈赚取约 34.43万元。 广发改革混合（001468）成立日期2015年7月27日，最新规模1.97亿。今年以来收益22.97%，同类排名 3278/8175；近一年收益38.2%，同类排名4011/7982；成立以来收益6%。 广发改革混合（001468）基金经理为陈少平。 截至发 ...

Core Viewpoint - The company has made significant progress in the "AI + Security" sector, showcasing its strategic layout and innovative achievements during the investor meeting on September 11, 2025 [1] Financial Performance - In the first half of 2025, the company achieved operating revenue of 3.827 billion yuan, a year-on-year increase of 3.67% [1] - The net profit attributable to shareholders was -282 million yuan, a reduction in loss by 59 million yuan compared to the previous year, indicating an improving operational trend [1] - Research and development expenses reached 1.565 billion yuan, accounting for 40.89% of operating revenue, reflecting a strong commitment to technological innovation [1] AI Developments - The company has made breakthroughs in artificial intelligence, with monthly web visits for its Nano AI products exceeding 450 million, ranking second in domestic search and third in intelligent agents [1] - Active users of Nano AI surpassed 12 million, placing the company among the top 10 in the domestic market [1][2] Technological Advancements - The latest model "360zhinao2-o1.5" was released in 2025, showing significant improvements in mathematical and scientific reasoning capabilities, ranking among the top tier of domestic large models [2] - The company launched the "360 Security Intelligent Agent," reconstructing the digital security defense system with over 100 expert-level intelligent agents deployed in various security scenarios [2] - The company has identified 58 APT organizations, accounting for 98% of all APTs discovered in the country, demonstrating its strong capabilities in cybersecurity [2] Shareholder Returns - Since its restructuring and listing in 2018, the company has distributed a total of approximately 4.334 billion yuan in cash dividends, with a planned distribution of 1 yuan per 10 shares for the 2024 fiscal year, totaling around 700 million yuan [2] Future Outlook - The company aims to continue its vision of becoming the safest AI innovator, focusing on the "AI + Security" field through technological innovation and business upgrades to create greater value for investors [2]

9月11日，亚信安全大宗交易成交73万股，成交额1344.66万元，占当日总成交额的15.05%，成交价18.42元，较市场收盘价20.8元折价11.44%。 | 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-09-11 | 亚信安全 | 688225 | 18.42 | 257.88 | 14 | 方正证券股份有限 公司总部 | 华泰证券股份有限 公司南京宁双路证 | | | | | | | | | 券营业部 | | 2025-09-11 | 亚信安全 | 688225 | 18.42 | 239.46 | 13 | 方正证券股份有限 | 华泰证券股份有限 | | | | | | | | 公司总部 | 公司南京宁双路证 | | | | | | | | | 券营业部 | | 2025-09-11 | 亚信安全 | 688225 | 18.42 | 221.04 | 12 | 中信建投证券股份 | 华泰证券股份有限 ...

Group 1 - The "360•SME AI-Driven Digital Transformation Special Competition" successfully concluded, focusing on the digital transformation challenges faced by SMEs in the AI era [1][3] - The competition attracted a record 6,098 outstanding projects, showcasing the vibrant innovation and entrepreneurial spirit in Beijing [3][5] - The event serves as a platform for SMEs to exchange ideas, incubate projects, and foster development, emphasizing the importance of collaboration and resource sharing [3][5] Group 2 - The competition is part of the "Maker Beijing 2025" initiative, which aims to support high-tech and future industries, including AI, information technology, and advanced manufacturing [3][5] - The event highlighted the significant role of AI in driving digital transformation, making it essential for SMEs to enhance competitiveness and achieve sustainable development [8][10] - 360 Group has been hosting the competition for four consecutive years, reinforcing its commitment to fostering innovation and collaboration among entrepreneurs [7][10] Group 3 - 360 has established a comprehensive security network covering 1.5 billion terminals across 225 countries, providing AI-driven security services to over 160,000 enterprises [12] - The company promotes a "Security as a Service" model, allowing SMEs to access security solutions without the need for upfront investments in hardware or software [12] - 360 aims to support the digital transformation of SMEs by ensuring their security needs are met, enabling them to focus on value creation [12][13]

Core Viewpoint - Rubrik reported strong financial results for Q2 FY2026, exceeding revenue expectations and showing significant growth in subscription revenue and annual recurring revenue (ARR) [1][2] Financial Performance - Total revenue for Q2 reached $309.9 million, surpassing the expected $282.26 million [1] - Subscription revenue grew by 55% year-over-year to $297 million [1] - ARR increased by 36% year-over-year to $1.25 billion [1] - Adjusted loss per share was $0.03, better than the expected loss of $0.34 [1] - Free cash flow was $57.5 million, compared to a negative $32 million in the same period last year [1] Future Outlook - Rubrik expects Q3 revenue to be $321 million, up from a previous estimate of $302 million [1] - Projected loss per share for Q3 is between $0.18 and $0.16, improved from an earlier expectation of $0.26 [1] - The company anticipates full-year ARR to be between $1.41 billion and $1.42 billion, exceeding the previous estimate of $1.38 billion [1] Analyst Ratings and Target Price Adjustments - Goldman Sachs reiterated a "Buy" rating, raising the target price from $117 to $120, citing strong underlying business momentum despite concerns over one-time revenue impacts [2] - KeyBanc maintained an "Overweight" rating, increasing the target price from $114 to $117, highlighting revenue growth driven by one-time income [2] - Piper Sandler kept an "Overweight" rating with a target price of $115, emphasizing Rubrik's market expansion strategy and potential for long-term investment [2] - Mizuho maintained a "Neutral" rating with a target price of $97, noting the stock's significant price increase since its IPO [2]

Core Insights - Cloud WAF has become a crucial component in the web application security landscape, providing essential protection against various network threats and is increasingly favored by cloud tenants in China [1][4][5] - The Chinese cloud WAF market is projected to reach 1.95 billion yuan in 2024, reflecting a year-on-year growth of 24.2% [4][5] - Major application sectors for cloud WAF include internet services, finance, and government, with emerging demand from online education and healthcare [5][6] Cloud WAF Industry Overview - WAF, or Web Application Firewall, is designed to protect web applications by executing security policies against HTTP/HTTPS traffic, effectively identifying and filtering malicious traffic [2][3] - Cloud WAF offers significant advantages over traditional WAF, including elastic scalability, efficient protection, simplified deployment, and intelligent learning capabilities [4][5] Cloud WAF Market Size and Growth - The Chinese cloud WAF market is expected to grow to 1.95 billion yuan by 2024, with a 24.2% increase from the previous year [4][5] - Global web attacks are projected to reach 311 billion in 2024, with a 33% annual increase, highlighting the growing need for effective web application security solutions [4][5] Cloud WAF Application Structure - In 2024, the internet services sector will account for 23.1% of cloud WAF demand, followed by finance at 22.6% and government at 20.4% [5][6] - The financial sector is particularly targeted due to the handling of sensitive data, making real-time threat detection and defense critical [5][6] Cloud WAF Competitive Landscape - Major players in the cloud WAF market include Alibaba Cloud, Huawei Cloud, China Telecom, Tencent Cloud, and China Mobile, collectively holding nearly 70% of the market share in 2024 [7][9] - Alibaba Cloud leads the market with a 21.4% share, followed by Huawei Cloud at 15.5%, China Telecom at 11.9%, Tencent Cloud at 11.2%, and China Mobile at 8.4% [7][9] Future Trends in Cloud WAF - The integration of cloud WAF with GenAI is anticipated to enhance security defenses against advanced threats [13] - Cloud WAF services are evolving towards comprehensive Web Application and API Protection (WAAP) platforms, indicating a shift towards more sophisticated and automated security solutions [14] - The emergence of large model security, such as LLM-WAF, is expected to become a significant growth area in the WAF market [15][16]

一、持续督导工作情况 登录新浪财经APP 搜索【信披】查看更多考评等级 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》《上海证券交易所上 市公司自律监管指引第11号——持续督导》等有关法律、法规的规定，长城证券股份有限公司（以下简 称"长城证券"、"保荐机构"）作为珠海高凌信息科技股份有限公司（以下简称"高凌信息"、"公司"）持 续督导工作的保荐机构，负责高凌信息上市后的持续督导工作，并出具2025年半年度持续督导跟踪报告 二、保荐机构和保荐代表人发现的问题及整改情况 2025年上半年度，保荐机构和保荐代表人未发现高凌信息存在需要整改的重大问题。 三、重大风险事项 （一）核心竞争力风险 1、新产品开发的风险 公司所处军用通信、网络内容与内生安全等行业均属于技术密集型行业，技术更新及下游市场需求变化 较快。现阶段，公司军用电信网通信设备包括程控通信、语音加密网、IMS网、移动通信网、星网接入 等方向；网络内容安全产品业务主要围绕电信网、移动互联网、互联网、广电网、运营商等有害信息防 范领域开展相关业务，持续强化公司在专用接入设备、自然人语音识别、大数据分析、反诈大模型迭代 升级等方面的 ...

Group 1 - Kazakhstan has issued its first long-term residency permit for foreign "digital nomads," valid for 10 years, marking a significant step in attracting global high-tech talent [1][2] - The first permit holder is a senior data analyst with international experience, indicating the type of professionals targeted by this initiative [1] - The "Digital Nomad Residency" program will officially launch in January 2025, focusing on international high-tech talent in fields such as artificial intelligence, big data, and information security [1][2] Group 2 - Over 270 applications have been received for the "Digital Nomad Residency" program, primarily from individuals in programming, cybersecurity, and software development, with applicants from the US, Canada, France, Turkey, and CIS countries [2] - The issuance of the first long-term residency permit signifies the program's transition into a substantive phase, enhancing Kazakhstan's appeal as a regional digital hub [2] - This initiative is expected to help Kazakhstan attract international talent and promote the development of its digital economy [2]

Core Insights - The article discusses the significant impact of AI programming tools on development efficiency while highlighting new challenges such as security vulnerabilities, low-quality code, and the complexity of debugging AI-generated code [2][4]. Group 1: AI Tools and Challenges - AI programming tools have been reported to significantly enhance development efficiency, but they also introduce new security vulnerabilities and low-quality code issues [2]. - The increase in API numbers due to AI tools has led to a heavier operational burden for enterprises [2]. - The "black box" issue complicates the understanding of AI-generated code, making debugging and security checks more time-consuming [2]. Group 2: Security and Performance - Performance is crucial for user experience, and balancing security with user-friendly authentication processes is a pressing challenge [4]. - Over 91% of users have implemented WAAP (Web Application and API Protection) to secure AI and machine learning models [5]. Group 3: AI in Operations - A significant percentage of operational staff are utilizing AI to streamline processes: 57% use AI for script generation, 56% for custom policy creation, and 55% for executing scripts [7]. - Observability is key for AI-driven automation, with 65% of respondents leveraging it for this purpose [7]. Group 4: Application Trends - The proportion of modern applications is expected to surpass traditional applications by 2025, with modern applications rising from 29% in 2020 to 53% [7]. - By 2025, 54% of application and API performance analysis will be based on large models [7]. Group 5: AI Implementation Challenges - Complex IT architectures, unique security needs, and cost control are identified as major challenges for enterprises adopting AI applications [9]. - By 2028, 80% of enterprises are expected to embed AI capabilities, with 94% of AI applications deployed in hybrid cloud environments [12]. Group 6: F5's Response - F5 has transitioned to an Application Delivery and Security Platform (ADSP) to meet the growing demand for integrated performance and security solutions [11]. - The ADSP platform aims to provide seamless operation across various environments, addressing the complexities of modern application security [14]. Group 7: AI Gateway and Security - F5 has introduced the AI Gateway, which offers capabilities for routing based on large language models and provides protection against prompt injection and PII data leakage [16]. - The AI Gateway enhances GPU utilization rates by 30-60% while improving service success rates by at least 8% in specific applications [16]. Group 8: Comprehensive Services - F5 offers comprehensive application delivery and security services, including load balancing, DNS, CDN, and API gateways, adaptable to various deployment environments [17]. - The platform integrates capabilities across NetOps, SecOps, and DevOps, providing unified policy management and deep security analysis [17]. Group 9: AI Assistant - F5 has launched an AI assistant that enhances the platform's intelligence, capable of explanation, generation, and optimization across all F5 products [19].