证券研究报告 | 2025年05月14日 | 晨会纪要 | | --- | | 数据日期:2025-05-13 | 上证综指 | 深证成指沪深 | 300 指数 | 中小板综指 | 创业板综指 | 科创 50 | | --- | --- | --- | --- | --- | --- | --- | | 收盘指数（点） | 3374.87 | 10288.08 | 3896.25 | 11395.75 | 2848.02 | 1009.68 | | 涨跌幅度（%） | 0.16 | -0.12 | 0.14 | -0.20 | -0.31 | -0.15 | | 成交金额（亿元） | 5066.08 | 7849.16 | 2675.86 | 2838.92 | 3682.05 | 227.51 | 广电计量(002967.SZ) 公司快评:签署中科智易股权投资意向书，完善国 防科工业务布局 新产业(300832.SZ) 财报点评:海外业务成为核心增长驱动，流水线开始 成批量装机 【常规内容】 行业与公司 传媒行业 5 月投资策略：板块业绩触底向上，看好 AI 应用与 IP 潮玩机 会 汽车行业专题:人形机器 ...

Core Viewpoint - The acquisition of Beijing Zhongke Zhiyi Technology Co., Ltd. by Guangdian Measurement and Testing Group Co., Ltd. is aimed at enhancing capabilities in defense-related testing and evaluation, thereby improving market competitiveness [1][3][6] Group 1: Acquisition Details - On May 9, 2025, Guangdian Measurement signed a share investment intention letter with Zhongke Zhiyi, indicating a strategic move to gain control over the company [1][3] - Following the acquisition, Guangdian Measurement will appoint three directors to Zhongke Zhiyi's board, including the chairman, and will have the authority to manage operations, enhancing business synergy [3][4] Group 2: Company Focus and Strategy - Zhongke Zhiyi specializes in providing high-tech services to military units, focusing on weapon equipment testing and evaluation, with a goal to become a benchmark enterprise in the digitalization of equipment [3][4] - The company utilizes artificial intelligence and advanced modeling techniques to enhance testing and evaluation processes, supporting military training and operational management [4] Group 3: Financial Performance - Zhongke Zhiyi's revenue from 2022 to 2024 was reported as 0.56 billion, 0.60 billion, and 0.59 billion respectively, with year-on-year changes of +33.29%, +7.27%, and -2.75% [4] - The net profit for the same period was 0.11 billion, 0.10 billion, and 0.08 billion, with year-on-year changes of +6.99%, -4.78%, and -26.82% [4] Group 4: Industry Position and Outlook - Guangdian Measurement is positioned as a leading third-party measurement and testing company, focusing on strategic industries and aiming to benefit from technological innovation and domestic substitution trends [1][6] - The company maintains a profit forecast for 2025-2027, estimating net profits of 4.00 billion, 4.59 billion, and 5.35 billion, with corresponding P/E ratios of 26, 23, and 20 [1][6]

证券代码：920029 证券简称：开发科技 公告编号：2025-054 成都长城开发科技股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 9 日 问题 1：请问公司 2024 年订单完成情况如何，2025 年订单数量有多少？请 问公司在手订单转化为营业收入的周期是多久？ 回答：您好，公司 2024 年订单完成情况良好，在手订单转化为营业收入的 时间周期受客户需求时间、合同贸易条款、运输周期等影响因素而定。感谢您的 关注！ 问题 2：公司 2025 年在开拓市场方面，有哪些措施？产品在国内推广以及 国网招投标情况怎么样？ 回答：您好！公司通过深入了解目标市场，根据市场需求优化产品质量和服 务。2024 年度，公司已多次中标国家电网智能电表集采项目，中标金额达 3.2 亿元。感谢您的关注！ ...

"大模型是对算法模型开发范式进行一次全新的变革，基于大模型的算法开发流程具有更智能、更高效、更灵活的特点。"于莉莉表示，以DeepSeek、 ChatGPT产品为代表的AI大模型热潮席卷全国，标志着人工智能技术正式进入大模型时代，现阶段的AI技术将快速被大模型技术整合、取代、颠覆，其基 本划分为：通用大模型、行业大模型、垂直大模型、专属大模型。 4月28日，由广州日报和广东省人工智能协会主办的"破圈与融合"人工智能主题论坛暨优秀案例发布会在广州报业文化中心举行。当前，人工智能正以前 所未有的速度重塑全球经济格局。从智能制造到智慧医疗，从金融科技到智慧城市，AI技术已深度融入千行百业，AI"破圈"已势不可挡，正成为推动经济 增长的重要引擎。 随着人工智能从梦想照进现实，一批实践者正在努力让人工智能更好地服务社会。活动现场，广电计量检测集团股份有限公司副总经理于莉莉在题为 《AI大模型驱动的企业数据管理及应用》的主旨演讲中指出，人工智能正从"以模型为中心"加速向"以数据为中心"转变，而"数据"从本质上决定了AI大模 型的落地水平。当前，数据要素管理及应用仍面临诸多痛点。 人工智能技术正式进入大模型时代，大模型催生 ...

Group 1 - The core viewpoint is that AI is empowering the measurement and testing industry to undergo digital transformation and upgrade by providing comprehensive lifecycle quality control services for AI chips, enabling reliable testing for scenarios like medical imaging and autonomous driving [2] - The company is focusing on a "technology + standards + ecosystem" strategy to build a service system covering chips, algorithms, systems, and equipment throughout their lifecycle, establishing itself as an innovative benchmark in quality assurance for the intelligent era [2] Group 2 - The AI-driven inspection solution for the telecommunications industry utilizes drones equipped with laser radar and high-precision positioning modules to generate optimal inspection routes based on tower distribution, terrain data, and historical records [3] - In case of encountering strong electromagnetic interference or obstacles like flocks of pigeons, the AI system automatically recalculates the flight path and activates avoidance strategies, ensuring safe and efficient inspections [3][4] Group 3 - Traditional manual inspections are time-consuming and pose high risks to personnel, while the AI + drone inspection solution enhances operational efficiency and safety by isolating workers from hazardous environments and quickly identifying optimal paths [4] - The company has been actively involved in establishing industry standards and initiatives, such as the "5+1" standardization development initiative for AI technology in the automotive sector, which fills a gap in the industry and supports the development of AI applications in automotive technology [5] Group 4 - The company has established a joint innovation center for AI model verification and safety testing in collaboration with Beijing E-Town AI Research Institute, aiming to create a new ecosystem for "AI + inspection and testing" [5] - A new research institute focused on embodied intelligence and robotics has been launched in partnership with Jiangnan University, which will develop standardized testing and certification services [6] - The company is committed to cultivating three types of talent: interdisciplinary professionals who understand both testing technology and AI, innovative R&D teams exploring new detection methods, and application-oriented teams enhancing AI application capabilities in various roles [6]

Financial Performance - In Q1 2025, the company achieved operating revenue of 618 million yuan, a year-on-year increase of 5.16% [4] - The net profit attributable to shareholders reached 4.8235 million yuan, reflecting a significant growth of 302.86% compared to the same period last year [4] - The company maintains a strong cash flow, with over 1 billion yuan in liquid assets and more than 5 billion yuan in effective bank credit lines as of March 31, 2025 [4] Business Growth Areas - The overall order amount in Q1 2025 experienced double-digit growth, driven by emerging industries such as automotive and integrated circuits [4] - The data science business reported a revenue growth of 28.86% in 2024, focusing on system testing, cybersecurity, and data governance [7] - The integrated circuit testing sector saw a revenue increase of 26.28% in 2024, indicating a robust growth trajectory [8] Strategic Initiatives - The company is optimizing its talent structure, with a cautious approach to personnel growth while enhancing productivity and profitability [5] - Investment and acquisition strategies are being actively pursued to enhance industry competitiveness, with a focus on sectors like special equipment, automotive, and aerospace [11] - The company is developing capabilities in commercial aerospace, establishing a dedicated testing facility and collaborating with top universities to build a high-level talent team [9] Market Opportunities - The company is capitalizing on the rapid growth of the low-altitude economy by enhancing its testing services and fostering industry collaboration [10] - In the robotics sector, the company is expanding its testing services to ensure product quality and safety [10] - The focus on high-power, high-speed, and high-integration semiconductor testing positions the company to meet the growing demands of the integrated circuit market [8]

近日，针对投资者在互动易平台提出的"公司一季度业绩情况及未来增长预期"问题，迦南智能 （300880）(300880.SZ)予以积极回应。公司表示，2025年第一季度业绩下滑主要由客户订单交付计划 的阶段性调整及交付产品结构变化所致。考虑到一季度为传统业务淡季，对全年影响有限，公司全年经 营目标未变，增长趋势仍然明确。 新能源业务亮点频现充电桩项目落地开花 在新能源业务方面，迦南智能的战略布局已进入成果释放期。2025年，公司持续开发满足客户需求的新 产品，通过国家电网2025年电动汽车充电设备产品供应商资质能力核实，成为合格供应商。市场开拓方 面，公司成功中标国网甘肃综合能源服务有限公司2025年充电桩设备框架采购项目，进一步巩固了其在 充电基础设施领域的市场地位。 此外，公司与三一集团旗下长沙帝联工控科技有限公司在充电桩技术研发、产品应用和模式创新等方面 开展深度合作，服务其重卡电动化战略，并在慈溪启动"年产5万台超级充电桩生产线项目"，计划总投 资4.66亿元，未来将打造涵盖研发、制造、服务于一体的新能源产业链生态。 此番表态与迦南智能最新发布的2024年年度业绩数据形成了有力呼应。4月23日，公司披露 ...

FARO (FARO) Q1 2025 Earnings Call April 24, 2025 08:00 AM ET Company Participants Michael Funari - PartnerPeter Lau - President & CEOMatthew Horwath - Senior VP & CFO Conference Call Participants James Ricchiuti - Senior AnalystGreg Palm - Senior Research Analyst Operator Good day, everyone, and welcome to the Ferro Technologies First Quarter twenty twenty five Earnings Call. For opening remarks and introductions, I will now turn the call over to Michael Fenari at Sapphire Investor Relations. Please go ahea ...

据知，河南在全国较早启动了省级专业计量技术委员会建设，率先提出计量"专业+服务产业"融合式发 展思路。截至目前，河南已组建12个计量技术委员会，覆盖十大计量领域；新发布地方技术规范108 项，攻克军工、高端仪表等产业计量难题430余项；链接河南头部企业30余家，高新技术企业、瞪羚企 业等860余家。(完) （文章来源：中国新闻网） 四个专业计量技术委员会中，碳专业计量技术委员会将加强碳排放计量技术研究，为河南碳排放核算、 监测、交易等提供精准计量保障，助力河南绿色产业在全国统一大市场中抢占先机；声学与无损检测专 业计量技术委员会将聚焦制造业、基础设施建设等，及时跟踪行业发展趋势，推动相关计量技术规范的 制修订，确保产品质量检测的准确性和可靠性；长度与光学专业计量技术委员会、化学与标准物质专业 计量技术委员会将强化量值传递和溯源体系建设，梳理相关产业在全国统一大市场中的计量需求，组织 开展计量比对工作，为企业参与全国市场竞争提供有力的计量技术支撑。 河南省市场监管局副局长王建防表示，新组建成立的四个省专业计量技术委员会，要聚焦河南绿色低碳 发展、先进工业制造、科技创新、民生保障等提供精准技术服务，支撑河南进一步 ...

成都长城开发科技股份有限公司（简称"开发科技"，股票代码"920029"）在北交所的成功上市，标志着这家智能计量领域的佼佼者迈入了全新的发展阶段。 2025年3月28日，随着上市钟声的敲响，开发科技正式成为北交所的一员。 在业绩方面，开发科技同样表现出色。招股书显示，近年来公司业绩保持稳定增长。特别是在2023年，公司实现营业收入254,978.26万元，净利润48,767.12 万元，均创历史新高。这一成绩的取得，得益于公司强大的研发能力、卓越的产品质量以及广泛的市场布局。 在全球市场中，开发科技凭借深厚的技术积累，成功储备了大量适用于各类应用场景的智能计量产品平台化设计方案。这些方案使得公司能够快速响应中 东、中亚、东南亚、南美等市场的差异化需求，实现高效的设计、生产和交付。同时，公司产品能够与全球30余家主流厂商的电水气表、AMI系统软件等产 品适配，展现出强大的产品集成能力。 在通信解决方案方面，开发科技同样表现出色。公司产品支持包括PLC/RF/3G/4G/NB-IoT/Cat-M在内的多种通信技术，能够满足全球绝大多数国家及地区对 于智能计量产品通信方式的需求。公司在产品通信领域已取得超过200项 ...