Investment Overview - The company plans to invest RMB 20 million as a limited partner in the Xiamen Lianhe Phase IV Integrated Circuit Industry Venture Capital Fund, which primarily focuses on the semiconductor, ICT, new materials, and advanced manufacturing sectors [1][5] - The target fundraising size for the fund is RMB 500 million, with a duration of 5 years for investment, followed by a 2-year exit period, extendable by another 2 years [1][5] Fund Management and Structure - The general partner and fund manager is Xiamen Lianhe Equity Investment Fund Management Co., Ltd., established on June 8, 2017, with a registered capital of RMB 10 million [2] - The fund will invest at least 70% of its total raised capital in the specified sectors, with a limit of 20% for any single project investment [6][7] Impact on the Company - This investment will help the company to strategically position itself within the integrated circuit and advanced manufacturing industry chain, aiming for financial returns without affecting its normal operations [7] - The investment does not create any direct association with the company's main business and does not involve new related transactions or competition [7]

Core Viewpoint - The establishment of three industry colleges by Guangzhou Applied Technology University in collaboration with leading companies like Huawei, iFlytek, and UBTECH aims to enhance the integration of education and industry, addressing the demands of the digital economy and AI revolution [1][6]. Group 1: Industry Colleges Overview - The three industry colleges include the Smart Industry College (Huawei ICT College), iFlytek AI Industry College, and UBTECH Intelligent Robotics Industry College, with a total enrollment plan of 1,000 students in 2025 [1][6]. - These colleges represent a significant step in aligning the university's educational approach with national innovation strategies and the development of the Guangdong-Hong Kong-Macao Greater Bay Area [1][6]. Group 2: Educational Framework and Collaboration - The colleges aim to break traditional school-enterprise cooperation models by establishing a new collaborative framework focused on "joint talent cultivation, shared management processes, and shared outcomes" [2]. - Jointly developed talent training programs and standards will closely align with industry needs, utilizing advanced resources from Huawei, iFlytek, and UBTECH [2]. Group 3: Specific Programs and Enrollment Plans - The Smart Industry College will offer three innovative classes, including the Huawei AI Innovation Class (200 students), Huawei Big Data Innovation Class (100 students), and Huawei Harmony Innovation Class (100 students), all set to enroll in 2025 [3]. - The iFlytek AI Industry College will focus on software engineering with a target of 300 students, emphasizing AI applications and practical training [4]. - The UBTECH Intelligent Robotics Industry College will introduce two majors: Robotics Engineering (200 students) and Automation (100 students), with a focus on smart logistics and core robotics technologies [5]. Group 4: Strategic Impact on Regional Development - The establishment of these industry colleges is a strategic move to optimize academic ecosystems, empower industrial upgrades, and support national strategies, particularly in the fields of ICT, AI, and robotics [6]. - The colleges are expected to address the talent gap in the Greater Bay Area by providing nearly 1,000 practical talents annually, contributing to the development of a world-class digital industry cluster [6].

Core Insights - The steel industry in China is undergoing a significant transformation through the integration of information technology, highlighted by the launch of the "Yuanye Steel Model" in collaboration with Huawei [1][6] - Nanjing Steel Group aims to become an internationally respected enterprise by fully digitizing its operations and exploring new business models, focusing on both "industrial intelligence" and "intelligent industry" [3] - The company has established a unique digital operation management system, enhancing capabilities in energy management, quality control, delivery efficiency, cost control, and procurement marketing [3][6] Digital Transformation - Nanjing Steel's digital transformation journey includes the implementation of a "one brain, three centers" management system, achieving comprehensive process integration from production to operations [3] - The company has initiated data governance and is among the first to include data assets in financial statements, receiving accolades in national data competitions [3] Intelligent Development - The "Artificial Intelligence Hundred Scenes Thousand Models" initiative has led to the development of over 120 AI models, significantly boosting the company's resilience [4] - A collaborative effort with Huawei aims to accelerate the intelligent transformation of the steel industry through the "Steel Big Model Hundred-Day Campaign" [4] Innovation in Data Management - The launch of the "Yuanye Steel Model" signifies a major step in Nanjing Steel's digital transformation, integrating various AI models with industry mechanisms to create a dual-driven intelligent model cluster [6] - The company has built a "cloud-edge-end" big data platform for data aggregation and real-time monitoring, ensuring data quality and reliability [6] Achievements in Smart Manufacturing - Nanjing Steel has achieved notable results in smart R&D and quality control, reducing R&D costs and time through AI capabilities [8] - The application of mechanical performance prediction models has improved product yield and delivery efficiency, while visual models have enhanced quality inspection processes [8]

Core Viewpoint - The company, 伟仕佳杰, is positioned as a leading technology service platform in the ICT industry within the Asia-Pacific region, benefiting from the AI wave and the digital transformation of enterprises, with a recovery in demand and emerging growth in Southeast Asia's computing power export [1]. Investment Highlights - The company is initiating coverage with a "Buy" rating, projecting revenues of HKD 1030.30 million, HKD 1183.70 million, and HKD 1365.14 million for 2025-2027, reflecting year-on-year growth of +15.7%, +14.9%, and +15.3% respectively, with EPS of HKD 0.86, HKD 1.08, and HKD 1.43 [2]. Company Overview - 伟仕佳杰 is a significant technology product channel developer and technical solution integrator in the Asia-Pacific region, with a service network covering the Belt and Road Initiative, serving 1.9 billion people through 50,000 channel partners. The company collaborates with over 300 Fortune 500 technology firms, including Huawei, Alibaba, and Microsoft, across twelve key areas such as cloud computing, AI, data storage, and cybersecurity. The financial data indicates a CAGR of 7.7% in revenue and 9.9% in net profit from 2015 to 2024, with a 16-17% year-on-year revenue growth and a 28-29% increase in net profit attributable to shareholders in Q1 2025 [3]. Logical Framework - The traditional business is benefiting from the AI wave, with the company’s AI computing power management platform and other systems upgraded to adapt to DeepSeek's full series of large models. The company employs a dual-driven strategy of "full-stack services + ecological collaboration" to create a comprehensive cloud service system [4]. - The company has established a strong presence in the Southeast Asian market through a localized operational model, maintaining stable core management and long-term strategic partnerships with upstream and downstream ecosystem partners. It has built a vast and reliable channel network, ranking high in market shares across Thailand, Singapore, Indonesia, the Philippines, and Malaysia, supporting numerous leading domestic technology brands in their overseas expansion [4].

Core Viewpoint - The next major company to complete the "A+H" dual-platform layout after CATL and Hengrui Medicine is expected to be Unisplendour Corporation Limited, which is planning to list in Hong Kong [1] Group 1: Company Overview - Unisplendour, formerly known as Tsinghua Unisplendour, was listed on the Shenzhen Stock Exchange in November 1999 and is a leading provider of digital and AI solutions, offering a full-stack intelligent ICT infrastructure [1] - According to Frost & Sullivan, Unisplendour ranks third in China's digital infrastructure market and second in both the networking and computing/storage infrastructure markets as of 2024 [1] Group 2: Financial Performance - Unisplendour's revenue has shown growth from 737.52 billion yuan in 2022 to an expected 790.24 billion yuan in 2024, but net profit has declined from 21.58 billion yuan to 15.72 billion yuan during the same period [3] - The company's gross margin has decreased from 19.8% in 2022 to 16% in 2024, with significant declines in various business segments [4] Group 3: Debt and Financing - The company aims to deepen its global strategy and enhance its international brand image through its planned secondary listing in Hong Kong, as it faces increasing debt pressure [5] - Unisplendour's total liabilities rose from 362.4 billion yuan in 2022 to 727 billion yuan in 2024, with a capital debt ratio increasing from 15.9% to 132% [6] Group 4: Market Strategy - The company plans to use the funds raised from the IPO for R&D in high-performance computing centers, cloud and AI solutions, strategic investments, acquisitions, and general operational expenses [1] - Unisplendour's international business, particularly through its subsidiary H3C, has shown promising growth, with international revenue increasing significantly in recent quarters [5]

IDC中国全球及中国副总裁王吉平在演讲中提到，智能终端制造商出海需精准把握全球化战略与新兴机 遇。他深入剖析了新兴市场需求增长态势，指出5G和AI等新兴技术的强劲驱动作用，以及消费者行为 的显著变化等关键市场趋势。同时，王吉平也指出了企业出海将遇到的挑战，涵盖政策法规差异、品牌 文化碰撞、复杂供应链物流，以及激烈国际与本土品牌竞争等多方面。他给出应对策略，包括精准选择 目标市场、实施本地化设计、拓展多渠道销售、强化品牌营销和推进生态合作等。王吉平强调，未来厂 商要紧抓元宇宙、物联网创新机遇，推进可持续发展，平衡全球化布局与本地化需求。 本报讯(记者冯雨瑶)6月17日，IDC Directions：ICT市场趋势论坛(北京站)成功举办，ICT业界头部企业 代表、行业数字化专家、投资机构等400余位嘉宾聚集一堂，探讨AI领航的时代，如何重塑业务转型之 路。 IDC中国副总裁兼首席分析师武连峰分享了关于AI大转型的深度洞察。基于IDC研究，到2030年AI累计 产生的全球经济影响将达22.3万亿美元，占全球GDP的3.7%，其巨大的中长期价值驱动企业进行AI大转 型。他提出，AI大转型需要转变战略、员工与组织等，并 ...

Group 1 - The collaboration between Hangzhou Dianzi University (HDU) and Hikvision aims to enhance practical skills in embedded systems through a specialized course, benefiting both students and the company [5][6][7] - The "Hikvision Class" has successfully integrated theoretical knowledge with practical applications, resulting in a direct pathway for students to secure internships and employment at Hikvision [5][6][7] - Over three years, the program has enrolled 148 students, with a significant employment rate, as 7 out of 10 interns from the first cohort secured jobs at Hikvision [6][7] Group 2 - The partnership has established a comprehensive talent cultivation model that aligns educational outcomes with industry needs, facilitating a seamless transition from academia to employment [5][6][7] - HDU has formed various industry alliances, including the Zhejiang Province Digital Economy Integration Alliance, to further enhance its educational offerings and student employability [7][8] - The university's initiatives have resulted in 70% of graduates entering the digital industry, with 80% serving local enterprises, showcasing the effectiveness of its educational strategies [7][8] Group 3 - HDU has implemented a range of career support services, including an online employment system and a career experience center, to assist students in their job search and career planning [8][9] - The university actively engages with employers and alumni to expand job opportunities, having visited over 550 companies and secured more than 2,600 job openings [8][9] - The career experience center is designed to inspire students by showcasing alumni career stories and providing a platform for career exploration [8][9]

Core Viewpoint - Unisoc Co., Ltd. is preparing for a secondary listing on the Hong Kong Stock Exchange, driven by the increasing demand for computing power from its DeepSeek large model, positioning itself as a leading provider of digital and AI solutions in the ICT sector [1][2]. Company Overview - Unisoc is a subsidiary of Tsinghua Unigroup, originally listed on the Shenzhen Stock Exchange in November 1999, and is part of a larger group that includes multiple listed companies in both A-shares and H-shares [1]. - The company ranks third in China's digital infrastructure market and second in both the networking and computing/storage infrastructure markets, according to Frost & Sullivan [1]. Business Model and Revenue - Unisoc offers a comprehensive range of digital solutions, integrating cloud computing, big data, AI, IoT, cybersecurity, and edge computing, which supports various industries in their digital transformation [2]. - The company has four major subsidiaries, with H3C contributing the most to its revenue, recognized as a leading manufacturer of AI servers and Ethernet switches [2]. Financial Performance - Unisoc's revenue has shown steady growth, with reported revenues of approximately 737.52 billion RMB, 775.38 billion RMB, and 790.24 billion RMB for the years 2022, 2023, and 2024, respectively [3]. - The digital solutions segment has become the main revenue driver, accounting for 62.7%, 68.4%, and 70.5% of total revenue in the same years [3][4]. Profitability - The company's net profits from continuing operations were approximately 37.42 billion RMB, 36.85 billion RMB, and 19.82 billion RMB for 2022, 2023, and 2024, respectively, with a declining gross margin from 19.8% to 16.0% over the same period [5]. - Despite a drop in profit for 2024 due to increased costs and reduced margins, the company maintains a strong cash position with 73.17 billion RMB in cash and cash equivalents by the end of 2024 [5]. Market Trends - The global digital solutions market has been growing steadily, projected to increase from 1.5 trillion USD in 2020 to 2.6 trillion USD by 2024, with a compound annual growth rate (CAGR) of 14.1% [7]. - The market is expected to reach 4.8 trillion USD by 2029, with a CAGR of 12.7% from 2024 to 2029, driven by advancements in cloud computing, AI, and other technologies [7]. Competitive Landscape - The company faces increasing competition from major players like Huawei and ZTE, particularly in the telecommunications sector, and must navigate challenges from rising self-developed hardware by cloud service providers [11]. - Unisoc's IPO proceeds are intended for R&D, strategic investments, and global market expansion to strengthen its competitive position [11]. Future Outlook - The successful listing on the Hong Kong Stock Exchange is anticipated to elevate the company's market presence, with potential for strong long-term value driven by technological barriers and favorable policies [12].

2.融资便利：H 股募资可用于海外研发中心建设、并购整合（比如对新华三的进一步支持）； 3.地缘避险：A+H 双平台架构能分散单一市场的政策风险，尤其在中美科技博弈背景下，港股的身份更 利于拓展欧美以外的新兴市场。 2025 年一季度，紫光股份营收 207.9 亿元，同比增长 22.25%，这个增速在传统硬件厂商中堪称亮眼。更 重要的是，其控股子公司新华三的国内政企业务收入同比增长26.07%，国际业务收入同比增长20.1%。 这说明什么？紫光不仅是国内数字化基建的扛把子，还在国际市场上撕开了一条口子。 根据弗若斯特沙利文的报告，紫光股份在中国数字化基础设施市场收入排名第三，而其 "万卡级集群网 络互联方案" 更是目前全球少数能实现超大规模 AI 算力集群无缝互联的技术之一。在 AI 算力军备竞赛 中，紫光相当于给各大厂商 "卖铲子"—— 无论你训练的是大模型还是搞智能城市，总得先买我的网络设 备和服务器。这种底层技术的卡位，让紫光在 AI 浪潮中占据了不可替代的生态位。 港股IPO：全球化野望的"关键一跃" 如果要在A股找一个"闷声发大财"的AI基础设施巨头，紫光股份（000938.SZ）绝对排得上号。这家 ...

5月22日，在第25个国际生物多样性日到来之际，紫光股份（000938）旗下新华三集团持续响应2025主 题"万物共生 和美永续"的号召，联合中国绿化基金会发起"让AI有爱——ICT技术助力生物多样性保 护"项目二期落地神农架国家公园。 该地位于湖北省神农架林区，是联合国教科文组织（UNESCO）世界生物圈保护区、世界地质公园、世 界自然遗产和国际重要湿地，2023年更被世界自然保护联盟（IUCN）授予"世界最佳自然保护地"称 号，是全球14个具有国际意义生物多样性保护和研究的关键地区之一。 神农架国家公园拥有被称为"地球之肺"的亚热带森林生态系统、被称为"地球之肾"的泥炭藓湿地生态系 统，是世界生物活化石聚集地和古老、珍稀、特有物种避难所，被誉为北纬31°的绿色奇迹。神农架国 家公园有珙桐、红豆杉等国家重点保护的野生植物90种，野生鸟类470种，旗舰物种神农架金丝猴、林 麝、金雕等重点保护野生动物138种，是中国重要的生物多样性保护区，也是全球范围内研究濒危物种 与生态系统的重要基地。 由于区域广阔、物种分布复杂，传统的监测和管理方式已然无法满足日益增长的保护需求。当前神农架 国家公园虽然在数字化保护方面也 ...