11.1% 2025年，服务业增加值同比增长5.4%。其中，信息传输、软件和信息技术服务业增加值同比增长 11.1%。 临近春节，浙江绍兴上虞区，浙江前川电机有限公司的生产车间里，工作人员业务繁忙，但一切井然有 序。 "以前，车间总是乱糟糟，领料员跑着核对纸质单据，班组长扯着嗓子协调工序，操作员反复强调自己 的工艺没问题……"公司总经理钱善璋说，哪怕用上管理调度的自动化系统，情况也没有多大好转。 技术员徐钖洋深有感触，"从不同部门汇总来的数据流，变为成百上千个表格文件，一旦需要跨表关联 分析，就得手动串联多张表格，还要编写复杂的函数公式，非常麻烦。" 明明用上了自动化系统，数据怎么还"跑"不起来呢？ 跟同行交流后发现，这竟然是行业内的共性问题。"不少企业早早尝试数字化改造，效果却不理想，数 据利用率不足50%。"钱善璋说，许多服务商只完成了第一步，即"上系统、存数据"。 拿物料储备举例，为应对急单，公司以前长期保持高额库存，占用资金多、管理负担重，但缺料停工情 况仍难以避免。"传统方案只能实现数据可视化，该备多少货，还得靠人工经验判断。"钱善璋说。 一年多前，前川电机打算对自动化系统进行一次智能化改造。凭借挖 ...

Core Insights - The report predicts that 45 stocks are likely to qualify for the Hong Kong Stock Connect in March 2026, following the review of the Hang Seng Index series on February 13, 2026 [3] - The report highlights that companies listed under the A+H structure can enter the Stock Connect more quickly, unaffected by the timing of the Hang Seng Index adjustments [3] Selection Criteria - The selection criteria for the Hang Seng Composite Index include two main conditions: market capitalization and trading volume. Only securities in the top 95% by average daily market capitalization over the past 12 months qualify for further volume criteria selection [5] - For new entrants, the market capitalization requirement is slightly higher at 94%, while the threshold for stocks being removed is relaxed to 96% [5] - The report estimates that the minimum average market capitalization requirement for inclusion has risen to approximately HKD 9.2 billion due to strong market performance over the past three quarters [5] Potential Adjustments - The report lists potential stocks for inclusion in the Hong Kong Stock Connect, including JD Industrial (HKD 37.31 billion), Innovation Industry (HKD 36.71 billion), and East Asia Bank (HKD 31.31 billion) [6] - It also identifies 22 stocks that may be removed from the Stock Connect, with the lowest average market capitalization among these being HKD 5.08 billion [6] - The report notes that existing investors can choose to hold or sell stocks that are removed from the Stock Connect, but cannot buy more until the stocks are re-included [5][6] Companies Under Review - The report identifies five companies currently under review for inclusion in the Stock Connect after their observation period, including DJI Technology (market cap HKD 42.79 billion) and Hesai Technology (market cap HKD 34.23 billion) [7]

人民日报记者 窦瀚洋 11.1% 一年多前，前川电机打算对自动化系统进行一次智能化改造。凭借挖掘数据应用的能力，有着上千 家企业服务经验的蒲惠智造科技股份有限公司拿下这一订单。 蒲惠智造的项目经理说，传统智能系统主要解决"有没有数据"的问题，仍难以攻克"数据是否真 实、问题出在哪里、该怎么改进"等更深层次的管理问题。 怎么办？蒲惠智造董事长王克飞介绍，把AI（人工智能）技术嵌入系统，理解业务背后逻辑，让 数据"说真话"、流程"真落地"，使数据真正服务业务运行和管理决策。 2025年，服务业增加值同比增长5.4%。其中，信息传输、软件和信息技术服务业增加值同比增长 11.1%。 临近春节，浙江绍兴上虞区，浙江前川电机有限公司的生产车间里，工作人员业务繁忙，但一切井 然有序。 "以前，车间总是乱糟糟，领料员跑着核对纸质单据，班组长扯着嗓子协调工序，操作员反复强调 自己的工艺没问题……"公司总经理钱善璋说，哪怕用上管理调度的自动化系统，情况也没有多大好 转。 技术员徐钖洋深有感触，"从不同部门汇总来的数据流，变为成百上千个表格文件，一旦需要跨表 关联分析，就得手动串联多张表格，还要编写复杂的函数公式，非常麻烦。" ...

Group 1 - Wangshan Wangshui-B (02630) surged over 14%, reaching a new high, following the announcement of significant antiviral research against Nipah virus by a team including researchers from the Wuhan Institute of Virology and Shanghai Institute of Materia Medica [1] - Zhaoyi Innovation (03986) increased by over 5.6%, with a forecasted revenue of approximately 9.2 billion yuan for 2025, representing a year-on-year growth of about 25%, and a projected net profit of around 1.61 billion yuan, up 46% [1] - Youran Dairy (09858) rose over 4% after completing a placement of 299.25 million shares at a price of 3.92 HKD per share [1] Group 2 - Yijun Group Holdings (02442) experienced a decline of over 39%, despite a previous surge of 4.4 times since its relisting on December 3, 2022 [2] - Alibaba-W (09988) saw a rise of 1.82% after the launch of its Qwen3-Max-Thinking model, which has over 1 trillion parameters and 36 trillion tokens of pre-training data [2][3] - Junda Co., Ltd. (02865) fell nearly 11%, with a drop of over 30% from its recent peak, following an announcement of a strategic investment in Shanghai Xingyi Xinneng Technology Co., Ltd. [2] Group 3 - WanGuo Data-SW (09698) increased by over 6%, also in response to the launch of Alibaba's Qwen3-Max-Thinking model [3] - MicroPort Scientific Corporation-B (02160) dropped 11% after announcing a proposed share consolidation [3] - Valiant Pharmaceuticals-B (09887) rose nearly 4% after receiving orphan drug designation from the European Commission for its core product [4] Group 4 - AI application software stocks in the US saw significant gains, with Cloudflare (NET.US) up 9.17% and Zoom Communications (ZM.US) up 11.28% [5] - Apple (AAPL.US) rose 2.97% ahead of its Q1 2026 earnings report, with expected revenue growth of 11.3% year-on-year to 138.42 billion USD [5] - Intel (INTC.US) continued its decline, falling 5.72% after a previous drop, with revenue expectations for Q1 2026 significantly below market forecasts [5] Group 5 - Kingsoft Cloud (KC.US) increased by 8.1% following a strategic upgrade of its AI training and deployment platform [6] - Precious metals stocks saw pre-market gains, with First Majestic Silver (AG.US) up 1.1% as gold prices reached historical highs [6]

久其软件再度涨停，5个交易日内录得3个涨停，累计涨幅为28.29%，累计换手率为88.58%。截至9:31， 该股今日成交量2325.63万股，成交金额2.50亿元，换手率2.94%。最新A股总市值达95.79亿元，A股流 通市值87.74亿元。 据天眼查APP显示，北京久其软件股份有限公司成立于1999年08月16日，注册资本86220.6871万人民 币。 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2026.01.26 | -1.85 | 18.12 | -6315.25 | | 2026.01.23 | -1.81 | 32.04 | -10389.12 | | 2026.01.22 | 9.97 | 32.34 | 33447.00 | | 2026.01.21 | 10.05 | 3.13 | 18547.44 | | 2026.01.20 | -1.37 | 8.97 | -1076.56 | | 2026.01.19 | -1.24 | 6.40 | -1848.82 | | 2026. ...

| | | 1月26日重要公告精选 | | --- | --- | --- | | 类型 | 公司 | 主要内容 | | 热点 | 德龙汇能 | 不涉及芯片及相关业务 | | | 东方日升 | 光伏产品未直接向商业航天卫星公司供货 | | 项目投资 | 川环科技 | 拟约11亿元投建川环科技(华东)智造总部基地 | | 合同中标 | 山科智能 | 中标智慧水务平台开发项目 | | 业绩换告 | 均胜电子 | 预计2025年归母净利润约13.5亿元,同比增长40.56% | | 股权转让 | 紫金矿业 | 拟收购AlliedGold Corporation 100%股权 | | 回购 | 吉祥航空 | 已实际回购1.67%公司股份 | | 增减持 | 开普检测 | 董事长姚致清拟减持不超过3%股份 | | 其他 | 浙海德曼 | 拟定增募资不超15.17亿元 | | | 特宝生物 | 拟发行可转债募资不超15.33亿元 片脂磨汇 | 【热点】 浙文互联(600986.SH)：旗下"派智"数字人业务产生的收入和利润占公司营业收入和净利润的比例均不到 1%，占比较小 东方日升(300118.SZ)：光伏产品未直接向 ...

来源：21世纪经济报道 继2025年IPO筹资额重回全球榜首后，进入2026年，港股IPO市场持续火爆。 2026年1月以来（截至1月26日），港交所上市新股数量已经达到了12家，总募资金额为347.47亿元，同比增长了480.87%。其中，国产GPU龙 头壁仞科技以及大模型企业智谱AI、MiniMax相继登陆港股市场，进一步强化了港股在前沿科技领域的融资地位。 1月28日、2月3日，港交所还将迎来两家消费企业，分别是量贩零食企业鸣鸣很忙和功能饮料企业东鹏饮料。前者在1月23日已经完成招股，认 购倍数超过1500倍，首发募资金额33.36亿港元；后者1月26日启动招股，预计募资101.41亿港元。 这也就意味着，截至目前，港股IPO市场已经锁定的融资规模达到482.24亿港元。而当前，还有越来越多的企业对港股市场展现出浓厚的兴 趣，形成了庞大的后备上市梯队。 近日，香港交易所行政总裁陈翊庭在瑞士达沃斯世界经济论坛期间接受采访时表示，香港IPO排队企业数量已超过350家，其中包括保密递交 上市申请的公司。 | 名称 | 上市日期 | 募资总额(亿港元) | | 所属Wind行业 | | --- | --- | ...

广联达公告，预计2025年度净利润为3.76亿元-4.26亿元，同比增长50.15%-70.11%。报告期内，公司持 续优化产品和业务结构，营业总收入较2024年略有下降，净利润保持增长，盈利能力持续提升：（1） 数字成本业务收入略有下降，续费率稳中有升；（2）数字施工业务战略聚焦初见成效，收入实现增 长，毛利率提升，经营质量持续改善；（3）国际化进程稳步推进，海外收入实现较快增长。 ...

Summary of TaxFriend Co., Ltd. Conference Call Company Overview - TaxFriend Co., Ltd. focuses on the B-end market, providing tax and financial SaaS products to small and micro enterprises and accounting agencies, enhancing efficiency through AI technology [2][3] - The company offers services such as intelligent invoice management and tax calculation to meet diverse enterprise needs [2] Core Business and Development - TaxFriend has three main business segments: 1. Traditional government (G-end) projects, including significant tax bureau projects 2. B-end SaaS services for small enterprises and accounting agencies 3. High-value tax compliance projects for executives, combining AI agents with expert guidance [3] - The company has seen a stable growth in revenue from 2021 to 2024, although AI investments have caused profit fluctuations [7] Market Demand and AI Integration - There is a strong demand for tax services among small and micro enterprises, which often struggle with compliance and cost [9] - TaxFriend's AI technology automates processes like voucher entry and report generation, significantly improving efficiency and reducing costs [9][12] - The AI agent's operational efficiency is over 10 times that of traditional accounting, with an accuracy rate exceeding 90% and a 60% reduction in labor costs [12][13] User Growth and Financial Projections - As of the end of 2024, TaxFriend has over 112,741 basic compliance users and approximately 2,000 advanced compliance users, with the latter receiving more comprehensive tax planning services [11] - The company forecasts revenues of approximately 2.256 billion, 2.9 billion, and 3.5 billion for 2025-2027, with net profits of 175 million, 363 million, and 559 million respectively [4][18] Competitive Advantages - TaxFriend has a unique advantage in the tax field, particularly in its focus on tax SaaS products compared to competitors like Yonyou and Kingdee [15] - The high switching costs for clients contribute to a strong customer retention rate [15] Challenges and Future Directions - SaaS companies face challenges of high gross margins alongside high expenses; however, AI can help mitigate these costs [16] - The company plans to continue optimizing AI technology and expanding innovative business areas to meet diverse customer needs while controlling R&D expense growth [10] Market Outlook - The small and micro enterprise market is expected to reach 390.7 billion by 2028, with a CAGR of approximately 74.9% from 2023 to 2028 [17] - The G-end business shows potential for growth due to increasing regulatory scrutiny, leveraging the company's extensive data accumulation over 20 years [17] Investment Considerations - Investors should focus on growth opportunities in the B-end market, particularly among small enterprises and innovative business clients, while being mindful of risks such as market competition and technology updates [18][19]

在经历了围绕生成式人工智能的数年（Generative AI）的狂热喧嚣后，全球科技产业正站稳了一个关键的十字路口。根据德勤（Deloitte）最新发布的 《2026科技、传媒和电信行业预测》报告，2026年将引发人工智能从"令人惊叹"的实验阶段转向"务实"德勤预测，随着AI规模化应用的持续推进，其理想 与现实之间的差距将明显缩小，但不会完全消失：未来的进展将更多地来自于基础能力的夯实与跨行业的深度整合，而非依赖于发布的新模型 。 这份重量级报告详细剖析了从计算基础设施、软件服务模式到物理世界机器人及数字媒体形态的深刻变革。报告指出，科技、传媒和电信（TMT）行业 剧烈增长的重要性已超越了芯片和代码本身，它们正成为其他所有行业实现增长、效率和创新的根本驱动力 。 从"主动炫技"到"被动服务"：AI与SaaS的范式转移 在德勤的预测中，一个显着的趋势是生成式AI使用方式的根本性转变。虽然ChatGPT等独立AI应用关注了当前的媒体头条，但德勤敏锐地指出，未来的主 战场出现"椅子式AI"。德勤预测，到2026年及以后，使用内嵌于现有主流应用（如搜索引擎、办公软件）中的生成式AI的用户数量，将超过使用独立生成 式A ...