（记者 张明双） 彩讯股份（300634.SZ）12月11日在投资者互动平台表示，公司AI技术已落地民航领域，核心应用包 括：1）RichMail 智能邮箱为南方航空等客户提供 AI 智能检索、智能撰写、智能翻译与分类归档等服 务，提升办公协同效率；2）基于 Rich AIBox 平台可快速构建智能客服、数字员工等应用，支撑民航客 户在服务响应、运营流程等场景降本提效；3）智算服务与数据智能方案助力民航客户进行数据治理、 模型训练及推理，赋能业务决策与智能化升级。 每经AI快讯，有投资者在投资者互动平台提问：您好！请问公司的人工智能项目目前有什么能应用到 民航领域的？ ...

Group 1 - The company is an important partner in Huawei's HarmonyOS ecosystem, actively promoting innovation in the smart field of HarmonyOS [1] - The company has not participated in the collaboration for Huawei's Mate 80 smartphone [1]

Core Insights - IBM and Pearson have formed a global partnership to develop AI-powered personalized learning products for various sectors including businesses, public organizations, and educational institutions [1][3] - Research from Pearson indicates that inefficient career transitions and skills mismatches could result in a loss of $1.1 trillion in annual earnings for the US economy, highlighting the need for more effective learning solutions as AI transforms work and education [2] Group 1: Partnership Objectives - The partnership aims to create AI-powered learning tools utilizing IBM's watsonx Orchestrate and watsonx Governance, which will be available globally [3] - IBM will assist Pearson in developing a custom AI-powered learning platform that integrates human expertise with AI technologies, enhancing Pearson's operational efficiency and decision-making processes [3][4] Group 2: Benefits and Tools - IBM's customers and its 270,000 employees will gain access to Pearson's enterprise learning solutions, which include digital credentialing through Credly, strategic workforce planning via Faethm, and global delivery of IBM professional certification exams [4] - The collaboration will also focus on developing tools to verify the capabilities of AI agents, ensuring organizations can confidently deploy these technologies [5] Group 3: Strategic Vision - The partnership aligns with Pearson's strategy to foster strong relationships with select strategic partners to enhance customer outcomes and drive joint market initiatives [6] - Both CEOs emphasize the importance of adapting to the fast-evolving technological landscape, with a focus on embedding learning into the workflow to improve productivity and performance [6]

据天眼查，目前，全芯智造大股东为国家集成电路产业投资基金二期股份有限公司，持股8.89%。另外，武岳峰科创、人保资本、浑璞投资、合 肥高投、TCL创投等参股。 瑞财经 刘治颖 12月10日，全芯智造技术股份有限公司（以下简：全芯智造）在安徽证监局完成IPO辅导备案，拟A股上市，辅导机构为国泰海 通证券股份有限公司。 全芯智造成立于2019年9月，今年11月变更为股份公司，注册资本为2.31亿元，法定代表人是倪捷，无控股股东。 官网显示，全芯智造是一家专注于智能制造一体化解决方案的专业软件开发与服务的高新科技企业，总部位于合肥，在上海、北京、广州、济 南、深圳、武汉、香港、杭州设有全资子公司。 倪捷，全芯智造创始人、董事长及总经理，在半导体领域有超20年的从业经验。在创立全芯智造前，倪捷曾历任全球领先EDA公司新思科技中 国区副总经理，台湾上市公司世芯电子COO。 ...

Core Viewpoint - Wolters Kluwer has initiated a share buyback program, repurchasing a total of 209,603 shares for €18.7 million at an average price of €89.33 during the specified period, as part of a larger plan to repurchase shares worth up to €200 million by February 23, 2026 [1][2]. Share Buyback Program - The share buyback program was announced on November 5, 2025, with a total intended repurchase of €200 million from November 6, 2025, to February 23, 2026 [2]. - Cumulatively, 8,060,900 shares have been repurchased in 2025, totaling €1,054.9 million, with an average share price of €130.86 [2]. Treasury Shares and Capital Reduction - Shares repurchased will be held as treasury shares and are intended for capital reduction through share cancellation [3]. Company Overview - Wolters Kluwer reported annual revenues of €5.9 billion for 2024, serving customers in over 180 countries and employing approximately 21,900 people globally [4]. - The company is headquartered in Alphen aan den Rijn, Netherlands, and is listed on Euronext Amsterdam [5].

Core Insights - Oracle anticipates an increase of $15 billion in its FY 2026 capital expenditures due to investments aimed at accommodating AI workloads and growth in Remaining Performance Obligations (RPO) [1][2] Financial Performance - For fiscal Q2 2026, Oracle reported revenue of $16.1 billion, representing a 14 percent year-on-year increase, with earnings per share (EPS) of $2.10, up 91 percent [3] - The company's backlog rose by $68 billion to a total of $523 billion, driven by commitments from Meta and Nvidia [2] Revenue Breakdown - Cloud revenue reached $8 billion, up 34 percent; cloud infrastructure revenue was $4.1 billion, up 68 percent; cloud application revenue was $3.9 billion, up 11 percent; fusion cloud revenue was $1.1 billion, up 18 percent; and NetSuite Cloud ERP revenue was $1 billion, up 13 percent [4] Stock Performance and Market Reaction - Oracle's stock experienced a decline of over 11 percent in after-hours trading following the earnings report, and a more severe drop of 23 percent in November due to concerns over the company's debt levels related to AI investments [4][5] - Despite recent stock fluctuations, Oracle's stock is still up about 20 percent for the year, aligning with NASDAQ performance [7] Cost and Restructuring - Restructuring costs for the quarter reached $406 million, a 387 percent increase year-on-year, primarily due to layoffs and severance obligations from a $1.6 billion restructuring plan [3] Financing and Debt Management - The company has access to various capital sources, including public bonds, banks, and private debt markets, to manage its financial commitments [6] - Oracle is exploring financing options that allow customers to bring their own chips for installation in data centers, which could help synchronize payments and reduce borrowing needs [7]

Core Insights - Oracle Corporation reported a strong performance in Q2 of FY2026, with Remaining Performance Obligations (RPO) reaching $52.33 billion, a 433% year-over-year increase, driven by large contracts with companies like Meta and Nvidia [2][5][6] - Total cloud revenue reached $8 billion, growing by 33%, with Cloud Infrastructure (OCI) being the main growth driver, increasing by 66% to $4.1 billion, and GPU-related revenue surging by 177% [2][5][6] - The company is confident in executing its business backlog and maintaining an investment-grade debt rating, with capital expenditures expected to increase by approximately $15 billion to support accelerated business growth [2][5][9] Financial Performance Review and Outlook - The company reported a total revenue of $16.1 billion, a 13% increase year-over-year, with operating profit rising by 8% to $6.7 billion [6][8] - Non-GAAP earnings per share were $2.26, up 51%, while GAAP earnings per share were $2.10, reflecting an 86% increase [6][8] - The company anticipates that IPOs will account for 40% of revenue in the next 12 months, up from 25% in the previous year [5][6] Cloud Infrastructure (OCI) Growth - OCI's revenue growth accelerated by 66%, with significant demand for AI infrastructure, including the deployment of Nvidia GPUs [10][12] - The company operates 147 customer-facing real-time regions and plans to add 64 more, with a focus on delivering high-capacity data centers [10][12] - OCI's market consumption grew by 80%, supported by partnerships with companies like Broadcom and Palo Alto [13][15] AI Data Platform and Application Strategy - Oracle has developed the Oracle AI database and AI data platform to enable multi-step reasoning on private enterprise data while ensuring data privacy and security [16][17] - The AI data platform integrates various AI models, allowing for comprehensive data access and analysis across different databases and applications [17][18] - The company is focused on leveraging AI to enhance its applications, with significant growth in sectors like healthcare, where AI-driven solutions are being implemented [20][21] Application Business Performance and Sales Synergy - Total application revenue grew by 11%, with strong performance in core applications like Fusion ERP, SCM, and HCM, which saw growth rates of 17%, 18%, and 14% respectively [19][21] - The integration of industry application sales with core application sales teams has led to increased strategic conversations and larger transactions [21][22] - The company has successfully migrated 330 customers to the cloud, demonstrating robust demand for its application solutions [25][26]

Summary of Paycom Conference Call Company Overview - **Company**: Paycom - **Industry**: Human Capital Management (HCM) Software Key Points and Arguments Performance and Strategy - Paycom reported a successful year with a focus on world-class service, client value achievement, and full-solution automation [1][2] - Client satisfaction levels have improved significantly, indicating successful service enhancements [5][6] - The company has seen a recurring revenue growth of 10% and an Adjusted EBITDA of 43% [11] Market Position and Opportunities - Paycom currently captures only 5% of the total addressable market, indicating substantial growth potential [9] - The company plans to double down on sales efforts and open several new offices in the next two to three years [11][69] - There is a strong emphasis on increasing sales capacity and improving client retention through enhanced service and product offerings [15][36] Product Development and Innovation - The introduction of the "I-Want" feature has streamlined user interaction, allowing employees to access services without extensive training [20][21] - Automation of routine decisions, such as time-off requests, has been highlighted as a significant value-add for clients, reducing management burden [29][30] - Paycom's focus on decision logic and automation is expected to drive further efficiencies for clients, enhancing overall satisfaction and retention [34][39] Competitive Landscape - Paycom believes its competitive advantage lies in its unique product offerings and the ability to automate processes effectively, which competitors struggle to replicate [40][42] - The company is not overly concerned about macroeconomic factors impacting its growth strategy, focusing instead on internal capabilities and market opportunities [11][47] Future Outlook - Paycom is optimistic about its growth trajectory into 2026, with plans to enhance sales strategies and expand market presence [16][68] - The company is committed to maintaining strong margins while pursuing growth, ensuring that increased sales do not negatively impact profitability [69] AI and Technology Integration - Paycom manages its own data centers and is exploring AI applications to enhance product efficiency and client service [57][58] - The company is cautious about AI implementation, ensuring it adds value without complicating user experience [60][61] Additional Important Insights - Paycom has seen a trend of clients returning after experiencing higher total costs with competitors, emphasizing the value of its automation capabilities [5] - The company is focused on aligning its sales and marketing efforts to better communicate the value proposition to clients [45][50] - There is a recognition of the need for continuous improvement in internal processes to maximize client value and satisfaction [66][67]

Core Insights - Oracle is increasing its capital expenditures to $12 billion from $8 billion in the previous quarter, indicating a strong commitment to financing its mega data center buildout [1] - The company is heavily reliant on Nvidia for graphic processing units (GPUs) and is exploring chip neutrality as a key policy moving forward [2] - Oracle's remaining performance obligations (RPO), which represent the backlog of new cloud computing deals, rose to $523 billion from $455 billion in the last quarter, contributing to a significant stock price increase [4][5] Financial Strategy - The company has various financing options available through both public and private debt markets, and is considering customer financing where customers can bring their own chips [1] - There is a focus on transparency regarding financing options, with expectations for more definitive answers in the next 3 to 6 months [5] Customer Base and Market Position - Oracle is not solely dependent on OpenAI for its cloud computing deals, as it is also engaging with other significant customers like Meta and Nvidia [7] - The company has purchased thousands of chips from AMD and is looking at other suppliers, indicating a diversification strategy in its chip sourcing [3]

Group 1 - Qianwen has surpassed 30 million monthly active users within 23 days of its public beta launch on November 17, making it the fastest-growing AI application globally [1] - Qianwen app is undergoing daily feature updates with hundreds of engineers working in a closed development environment at Alibaba's Xixi campus, aiming for a major iteration before the Spring Festival [1] - Alibaba's internal communications indicate that the primary goal for Qianwen's consumer-facing division is to develop it into a super app, serving as the primary entry point for users in the AI era [1] Group 2 - Guohai Securities suggests that Alibaba's shift towards consumer-facing AI applications indicates that Qianwen app is expected to become a new high-frequency super entry point in the next one to two years, deeply integrating with Alibaba's e-commerce, entertainment, and local life services [1] - Zhonghang Securities believes that domestic AI is transitioning from model competition to a critical phase of system integration and scenario penetration, with three main drivers: the formation of endpoint entry, practical model capabilities, and the maturity of multimodal tools accelerating AI application deployment [1] Group 3 - Nanxing Co., Ltd. reported that its subsidiary, Yiwang Network, is a key supplier of data center and bandwidth resources for Alibaba Cloud, providing stable, efficient, and secure infrastructure support [2] - Runjian Co., Ltd. is collaborating with Alibaba in AI applications and computing power, with ongoing order placements; its Wuxiang Cloud Valley Intelligent Computing Center is positioned as a core hub for China-ASEAN AI cooperation [2]