我非常相信这一天将很快会来临，相比于依靠人类来处理工作，AI 的优势是不知劳累、不需要休息、没有时间限制，它可以一天 24 小时，一年 365 天不 间断的工作。 这其实已经在一些领域发生了，只不过暂时覆盖的还不多，我们对其感知没那么明显。随着 AI 的能力特别是 AI Agent 以及自动驾驶技术的快速发展，我 觉得这种改变会对人类社会的方方面面都带来巨大变革。 Konstantine Buhler 说，在实现全面通用人工智能（AGI）之前，混合型的 Agent/人类系统将消除经济中的时间摩擦，并创造新的机会。 当人们谈论人工智能时，话题往往在即时应用与遥远未来的通用人工智能（AGI）之间摇摆。但其实，中间地带也极其重要，值得我们关注。在接下来的 5 到 7 年内，AI 将通过在各行业实现"永续运转（Always-On）"，重塑并加速我们的经济。这场变革并非理论假设，在某些行业中，它已经在发生，为我 们描绘出近未来的蓝图。 当前现状：永续运转的孤岛 未来已经到来，只是分布尚不均匀。已有多个行业通过 AI 实现了"永续运转"： 在发表了《 使用数据（Usage）才是 AI 时代的护城河 》之后，红杉资本合伙人 ...

Core Viewpoint - Data is the most critical production factor in the digital economy era, and the economic value of data is increasing, leading to more serious security issues [2] Group 1: Importance of Cryptography - Cryptography plays an essential role in ensuring data security in the digital economy, including data encryption, access authorization, and privacy protection [2][4] - Commercial cryptography is crucial for protecting non-state secret data and will become a key variable in restructuring digital production relationships [4][8] Group 2: Security Solutions - The company offers various security solutions for data storage, transmission, usage, and trading, including encryption middleware, high-speed encryption gateways, and digital watermarking [5][6] - New cryptographic technologies such as multi-party secure computing and homomorphic encryption are being explored to address data security and privacy protection challenges [7] Group 3: Challenges in Adoption - The main obstacles to the adoption of commercial cryptography are insufficient technical awareness and the complexity of implementation, particularly in existing information systems [6][9] - As national policies and regulations improve, awareness of the importance of cryptography is expected to increase, which may help overcome these challenges [6][9] Group 4: Policy Support - The development of the commercial cryptography industry is supported by a robust legal framework, including laws on cybersecurity, data security, and personal information protection [8][9] - Companies should leverage policy incentives to drive innovation and improve their competitive edge in the market [9][10] Group 5: International Competitiveness - Although China's commercial cryptography industry started later, it has developed rapidly and established a comprehensive standard and certification system [11] - Chinese companies face challenges in international markets due to the need to adapt to existing international certification standards [11] Group 6: Integration with Emerging Technologies - The integration of artificial intelligence and commercial cryptography is reshaping the information security landscape, requiring innovative security architectures and solutions [12] - Companies must address new security challenges posed by AI applications, including protecting model parameters and resisting adversarial attacks [12]

Core Viewpoint - In 2024, the company reported a revenue of 2.358 billion yuan, a year-on-year increase of 40.29%, while the net profit attributable to shareholders was a loss of 365 million yuan, showing a reduction in losses [2] Group 1: Financial Performance - The company achieved an operating income of 2.358 billion yuan in 2024, reflecting a 40.29% year-on-year growth [2] - The net profit attributable to shareholders was a loss of 365 million yuan, indicating a reduction in losses compared to the previous year [2] - The net cash flow from operating activities turned positive at 136 million yuan [2] Group 2: Market Trends and Strategic Focus - The information security industry is experiencing a slow recovery in client investment, with the company focusing on its core business and aligning with industry trends [2] - The company launched the AI+SOC Eagle Eye Security Operations Center, enhancing detection and response times by over 50% and achieving automatic judgment for over 70% of attacks [2] - The company reported over 50% growth in orders for its Internet Exposure Management Service (EASM) and a renewal rate exceeding 70% [3] Group 3: Product and Service Development - The company is focusing on stable demand sectors such as telecommunications, finance, and energy, while expanding its product offerings including RSAS, WAF, ISOP, NF, and CDG [3] - In the financial sector, the company has seen rapid growth in revenue from its Xinchuang products, while also securing projects in government sectors for emergency warning and data security [3] - The company is investing in AI, data security, and other emerging technologies, with ongoing research in areas like APT detection, supply chain security, and cloud-native security [4]

Core Viewpoint - The investment by Weide Information in Shuangzhou Technology aims to enhance its business operations and market presence in the information security sector, with a focus on leveraging Shuangzhou's unique customer resources and technological barriers [1][2][3] Group 1: Investment Details - Weide Information plans to invest cash in Shuangzhou Technology, acquiring a 50.10% stake and becoming the controlling shareholder [1] - The pre-investment valuation of Shuangzhou Technology is approximately 150 million yuan, raising questions about its reasonableness given its negative net assets [1] - Shuangzhou Technology has reported projected revenues of 16.32 million yuan and a net profit of 3.63 million yuan for 2024, despite its current negative net assets of -32.61 million yuan [1] Group 2: Company Background - Shuangzhou Technology, established in 2006, specializes in information security software and digital twin-driven software, serving clients in government and military sectors [2] - The company has invested several million yuan in recent years and is in urgent need of funding to fulfill existing orders, highlighting its market potential and technological advantages [2] - Shuangzhou Technology claims to have unique customer resources and high entry barriers in the information security field, positioning itself well for future growth [2] Group 3: Strategic Objectives - The acquisition is expected to help Weide Information integrate resources in research, technology, and market presence within the information security domain, thereby enhancing its competitive edge [3] - The partnership is seen as mutually beneficial, with Shuangzhou Technology's shareholders confident in the company's future and willing to sell control at a relatively low valuation due to financial difficulties [2][3]

此外，收购后的整合问题也不容忽视。纬德信息公告指出，如取得标的公司控股权，对公司的业绩影响 也存在不确定性，可能存在公司与标的公司在企业文化、财务管理、人力资源管理等方面的整合不达预 期的风险。如何在收购后实现有效的整合，发挥双方的优势，是纬德信息需要认真思考的问题。 笔者认为，面对投资者的质疑，纬德信息的应对策略至关重要。公司需要通过透明化信息披露，向市场 详细说明此次收购的必要性和合理性。同时，公司还需要制定详细的整合计划，明确双方在业务、管理 等方面的协同方式和时间表，以增强投资者的信心。 总之，纬德信息的此次扩张行为，虽有业务拓展的考量，但高估值和标的公司的财务状况，使其面临着 较大的市场压力和整合挑战。公司只有积极回应投资者的质疑，采取有效的应对措施，才能在此次扩张 中实现预期的战略目标，提升公司的长期竞争力。否则，这一看似"天价"的收购，可能会给公司带来更 多的问题和风险，而不是预期中的增长机遇。 每经评论员 杜宇 4月9日晚间，纬德信息（SH688171，前收盘价：16.71元，市值13.99亿元）公告披露，公司拟以现金向 北京双洲科技有限公司（以下简称双洲科技）增资。本次增资完成后，公司将取得 ...

纬德信息公告，公司拟以现金向北京双洲科技有限公司增资，增资完成后将取得双洲科技50.10%股 权，成为控股股东。双洲科技投前整体估值约1.5亿元，具体估值结果根据最终评估报告确定，交易价 格等具体条款由各方另行协商并签订正式协议确定。本次交易不构成关联交易，预计不构成重大资产重 组情形。《股权投资意向协议》仅为意向性约定，旨在表达各方初步合作意愿和洽谈结果，具体交易方 案尚需进一步论证和沟通协商，交易能否达成存在不确定性。若完成本次股权投资，双洲科技将纳入公 司合并报表范围，有助于公司进一步整合信息安全领域的研发、技术、市场等资源，拓宽产品线和市场 渠道，提升市场份额，提高综合竞争力。 ...

Group 1 - Beijing Qingchuang Zefang Safety Technology Co., Ltd. has been established with a registered capital of 10 million yuan [1] - The company is co-owned by Chen'an Technology and Beijing Hezhi Zhong'an Enterprise Management Partnership (Limited Partnership) [1] - The business scope includes technology services, safety consulting, software development, artificial intelligence software development, and various sales of safety and information security equipment [1] Group 2 - The company is involved in multiple sectors such as internet security services, emergency technology equipment sales, and industrial internet data services [1] - It is permitted to engage in safety evaluation and internet information services, subject to approval from relevant authorities [1] - The company is not allowed to engage in activities prohibited or restricted by national and local industrial policies [1]

政策研究 政策研究|民营经济发展 民营经济发展 大公国际：从 2025 年民营企业座谈会看民营经济 发展新机遇与挑战 文/崔爱巧、范昱希 摘要 日前，习近平总书记在京出席民营企业座谈会并发表重要讲话，本次会议释放多个 信号，包括但不限于发展方向、解决民营企业难题、政策指引等多个维度，充分鼓舞了 民营企业士气，并对民营企业高质量、健康发展做出进一步指示。 正文 日前，习近平总书记在京出席民营企业座谈会并发表重要讲话，相较于 2018 年给 民营企业"打气"，本次会议更像是在吹奏进攻号角，"前景广阔"、"大有可为"、"大显 身手"、"正当其时"等关键词充分鼓舞民营企业高涨情绪，"扎扎实实落实促进"、"坚决 执行不打折扣"等政策指导更是一剂强心针，充分鼓舞了民营企业士气，并对民营企业 高质量、健康发展做出进一步指示。以下将针对部分会议信号谈谈民营经济发展的新机 遇与挑战： 本次会议上，习近平总书记强调当前民营经济发展面临的困难和挑战具有以下特征： "局部的"、"暂时的"、"能够克服的"，会议政策重点在于解决融资难、拖欠账款、行业 准入公平等深层次问题。经过分析，民营企业融资难、融资贵主要体现于结构性矛盾与 信用分层 ...