Core Viewpoint - The establishment of Guangxi Data Group Co., Ltd. marks a significant step for Guangxi in implementing the Digital China strategy and enhancing digital cooperation with ASEAN [1] Group 1: Company Overview - Guangxi Data Group Co., Ltd. is jointly funded by Guangxi Zhuang Autonomous Region State-owned Assets Supervision and Administration Commission, Guangxi Investment Group, Guangxi Guokong Capital Operation Group, and Guangxi Beibu Gulf Investment Group [1] - The company will serve as a key implementation entity for the construction of Digital Guangxi and the China-ASEAN Information Harbor [1] Group 2: Key Functions and Focus Areas - The company will undertake important functions such as the construction of digital infrastructure, public data authorized operation, core technology research and development, digital economy industry investment, and AI cooperation with ASEAN [1] - It will focus on cutting-edge fields like big data and artificial intelligence, following a development path of "R&D in major cities + integration in Guangxi + application in ASEAN" [1] Group 3: Strategic Goals - The company aims to explore cross-border data flow and cooperation, actively serving the construction of the "Digital Silk Road" to empower regional collaborative development [1]

Core Insights - Jiangsu Province has officially announced the first batch of data enterprises, with 2,110 quality operating entities successfully selected, including 811 data merchants from the Jiangsu Data Exchange, highlighting the growing "magnetic effect" of the exchange [1][2] - The Jiangsu Data Exchange has established a unified market system with "one data exchange, one platform, and one set of rules," achieving standardized and large-scale operation of data element circulation [1] - By the end of 2025, the platform aims to attract 2,200 data merchants and 527 third-party service providers, with 21 strategic and 23 certified data merchants already signed [1] Industry Development - The Jiangsu Data Exchange focuses on market demand, creating specialized industry zones such as medical security, financial services, and cultural technology, fostering professional ecological clusters [2] - The medical service zone has successfully completed the first on-site transaction of 10 AI-ready medical datasets, facilitating cross-regional circulation and value release of medical data elements to enterprises in Hainan and Hebei [2] - The Jiangsu Data Exchange aims to empower the data industry development with professional capabilities, positioning itself as a leader in national data element circulation and inviting various market entities to join in building a collaborative and innovative ecosystem [2]

Group 1: Project Summaries - The first project involves the construction of a trusted data space in Dezhou, with a budget of 20 million yuan, aimed at integrating government, public, and social data to enhance decision-making and foster the local data industry [1][7]. - The second project focuses on a trusted data evidence management system, with a budget of 3 million yuan, which includes modules for data source management, data sharing, risk detection, and system management [2][7]. - The third project is for the procurement of training equipment for a trusted data space, with a budget of 1.2 million yuan, designed to support practical training in blockchain technology across various application scenarios [4][9]. - The fourth project is an upgrade of the Tianwang video surveillance security platform for the Yantai Public Security Bureau, with a budget of 953,400 yuan, aimed at enhancing security capabilities and compliance with national cybersecurity standards [6][10]. Group 2: Budget and Timeline - The budget for the trusted data space project in Dezhou is set at 20 million yuan, with a bidding date of December 2, 2025 [1][7]. - The trusted data evidence management system has a budget of 3 million yuan, with a bidding date of January 13, 2026 [2][7]. - The training equipment project has a budget of 1.2 million yuan, with a bidding date of November 25, 2025 [4][9]. - The upgrade project for the video surveillance platform has a budget of 953,400 yuan, with a bidding date of December 31, 2025 [6][10].

Group 1 - The core viewpoint of the news is that Beijing Haimao Data Technology Co., Ltd. is experiencing fluctuations in its stock performance and financial metrics, with a notable decline in net profit despite revenue growth [1][2] Group 2 - On January 21, Haimao Data's stock price fell by 0.31%, with a trading volume of 151 million yuan. The net financing buy was -6.49 million yuan, indicating a higher repayment than new purchases [1] - As of January 21, the total margin balance for Haimao Data was 14.7 million yuan, which is 3.13% of its market capitalization, indicating a low financing level compared to the past year [1] - The company repaid 1,500 shares in short selling on January 21, with a short selling balance of 26.67 million yuan, which is at a high level compared to the past year [1] Group 3 - As of September 30, the number of shareholders for Haimao Data was 27,400, a decrease of 12.44% from the previous period, while the average circulating shares per person increased by 14.21% [2] - For the period from January to September 2025, Haimao Data reported revenue of 314 million yuan, a year-on-year increase of 17.68%, but the net profit attributable to shareholders was -75.43 million yuan, a decrease of 73.04% year-on-year [2] Group 4 - Since its A-share listing, Haimao Data has distributed a total of 64.50 million yuan in dividends, with no dividends paid in the last three years [3]

Core Insights - The "2026 Guangdong High-Quality Data Set Innovation Competition" aims to stimulate data potential and empower industrial innovation, focusing on key sectors such as manufacturing, energy, finance, healthcare, and smart cities [3][4] - The competition adopts an "open challenge" mechanism, inviting data service providers, research teams, and innovative enterprises to participate, with major companies like Southern Power Grid and Ping An Insurance setting specific challenges [3][4] Event Overview - The first promotional event for the competition was held on January 19 at the Smart City Exhibition Hall in Baiyun District, providing detailed insights into the competition rules and guidelines for participating teams [1][3] - The event included two main segments: competition interpretation and case sharing, featuring insights from industry experts on the significance of high-quality, transferable, and applicable data sets [3] Industry Engagement - The competition is organized by the Guangdong Provincial Government Service and Data Management Bureau, in collaboration with local departments, leading enterprises, and research institutions [3][4] - Baiyun District aims to leverage this competition to enhance the market-oriented allocation of data elements and expand the application scenarios for high-quality data sets, contributing to the province's high-quality development [4]

Core Viewpoint - The company is expanding its overseas operations and focusing on high-growth areas such as embodied intelligence data, leveraging its capabilities in data annotation and management to meet increasing global demand for high-quality training data [1][2][3][4][5][8]. Group 1: Overseas Base Development - The company plans to integrate a Southeast Asia-based annotation center with over 1,000 personnel by 2024, expecting to generate millions in revenue by 2025 [1][3]. - A second local delivery base in Southeast Asia is planned for 2026, which will add approximately 500 personnel to support the outbound business of Chinese tech companies and customized orders from North American clients [1][3]. Group 2: Traditional Training Data Business Drivers - The demand for high-quality, multilingual, and scenario-based training data is driven by the rapid deployment of global AI applications [4][5]. - Key product lines include multilingual speech recognition data, handwritten data for financial document recognition, and multilingual text data for natural language understanding [4][5]. Group 3: Government Business Collaboration - The company has established a clear collaboration model with local governments, focusing on building high-quality industry datasets based on local characteristics and ensuring data security [7]. - Recent projects include partnerships with cities like Chengdu and Changsha, and the completion of initial data deliveries in Hohhot and Guangxi [7]. Group 4: Embodied Intelligence Data Business - The company views embodied intelligence data as a high-growth emerging sector and has formed a dedicated team to explore opportunities in various cities [8]. - Collaborations with robotics manufacturers and tech giants are underway to meet the demand for high-quality training data in real-world scenarios [8]. Group 5: Competitive Advantages in Training Data - The company has developed a dual-mode service product model, which significantly contributes to revenue and gross profit, ensuring scalability and high profit margins [9]. - Investment in technology and supply chain management enhances the company's capabilities in algorithm development and data security compliance [9][10]. - The company has achieved important certifications, including ISO/IEC 27001, ensuring robust data security and compliance with international regulations [10]. Group 6: Pricing and Market Dynamics - The pricing model for customized services is based on cost-plus pricing, while product pricing follows a demand-driven approach [11][12]. - Market dynamics dictate that scarce data types maintain premium pricing, while more mature segments face price competition, prompting the company to focus on high-barrier, high-margin niches [12].

Core Viewpoint - The establishment of a data property registration system is a significant step towards implementing data property rights, which is expected to enhance data circulation and unlock the value of data elements, thereby supporting the development of the domestic AI industry and facilitating data's role in international markets [1][2]. Group 1: Data Property Registration System - The National Data Bureau is set to further research and innovate a registration system tailored to data characteristics, drawing from experiences in other registration systems [1][2]. - A meeting was held on January 7, 2026, led by Liu Liehong, the Secretary of the Party Group and Director of the National Data Bureau, to discuss the data property registration system [1]. Group 2: AI Development and Data Empowerment - The National Data Bureau aims to implement a high-quality data set construction action plan by 2026, focusing on six key actions to enhance data quality and application, ultimately creating benchmark data sets with international influence [2]. - The effective support of large data sets is crucial for AI training and reasoning, positioning data elements as a significant advantage for domestic AI development [2]. Group 3: Data's Role in International Markets - Data is foundational for AI development, and the construction of effective data sets will significantly aid domestic AI growth and international value creation [3]. - The Beijing International Big Data Exchange is actively exploring cross-border data flow, promoting the export of high-value domestic data products and facilitating the two-way flow of data [4]. Group 4: Investment Opportunities - Companies with state-owned backgrounds in the data element sector, such as Inspur Information, Yihua Lu, and Taiji Co., are recommended for attention [5]. - Focus on data development and processing firms like Haitai Ruisheng and Sanwei Tiandi, as well as tool companies such as Shanghai Steel Union and Tonghuashun [5]. - Opportunities in data export, particularly for leading large models, should be monitored, including companies like MINIMAX-WP and Zhiyu [5].

Group 1 - Haitian Ruisheng's stock price increased by 7.43% to 142.96 CNY per share, with a total market value of 8.624 billion CNY and a trading volume of 21.3038 million CNY [1] - The company has experienced a cumulative increase of 8.18% over the past three days [1] - Haitian Ruisheng specializes in the research, design, production, and sales of AI training data, with revenue composition as follows: intelligent voice 44.13%, computer vision 40.02%, natural language 13.90%, and application services 1.95% [1] Group 2 - Jin Xin Fund holds 13,800 shares of Haitian Ruisheng in its Jin Xin Quantitative Selected Mixed A Fund, representing 4.99% of the fund's net value [2] - The fund has generated a floating profit of approximately 136,500 CNY today and 138,800 CNY during the three-day increase [2] - Jin Xin Quantitative Selected Mixed A Fund has a total scale of 21.8379 million CNY and has achieved a year-to-date return of 12.14% [2] Group 3 - The fund manager of Jin Xin Quantitative Selected Mixed A Fund is Tan Jiajun, who has been in the position for 1 year and 86 days [3] - The fund's total asset scale is 609 million CNY, with the best return during Tan's tenure being 59.95% and the worst being 12.75% [3]

Core Viewpoint - The establishment of a data property registration system is a crucial step in implementing data property rights, aimed at enhancing data circulation and unlocking the value of data elements [1] Group 1: Meeting Overview - The meeting was chaired by Liu Liehong, the Secretary of the Party Leadership Group and Director of the National Data Bureau [1] - Participants included representatives from various sectors, including the Beijing Internet Court, Peking University, and data management departments from Jiangsu Province, Hangzhou, Qingdao, and Shenzhen [1] Group 2: Objectives and Actions - The National Data Bureau aims to further research and learn from registration systems in other fields to create a registration system tailored to the characteristics of data [1] - The bureau will continuously gather opinions and suggestions from various sectors to innovate and improve the data property registration system [1]

Core Viewpoint - The establishment of the Data Element Service Station in Wuhai marks a significant advancement in the integrated data element market in Inner Mongolia, indicating a new phase in the market-oriented reform of data elements in the region [1] Group 1: Data Element Service Station - The Wuhai Data Element Service Station is the first of its kind in the western region of Inner Mongolia, highlighting the region's commitment to developing its data element market [1] - The station will leverage the national data trading platform advantages of the Shenzhen Data Exchange to provide various data value services, including data trading, security, compliance, application planning, governance, and assetization [1] Group 2: Challenges and Solutions - The service station aims to address challenges faced by enterprises in data trading, such as insufficient effective supply of data resources and weak compliance governance capabilities [1] - The initiative seeks to create a full-chain value closed loop from data resourceization to data capitalization, enhancing enterprises' engagement and capabilities in the data element market [1] Group 3: Economic Impact - The development of the data element market and the value-adding of data assets are expected to inject new momentum into the transformation and upgrading of the regional economy and society [1]