Core Insights - The article highlights the rise of Beijing Huajian Yunding Technology Co., Ltd. as a key player in the defense sector, focusing on the innovation of intelligent technologies in national defense [1][4] - The company aims to establish a solid technological barrier for national defense through continuous technological innovation and product upgrades [2][4] Company Overview - Beijing Huajian Yunding Technology Co., Ltd. is dedicated to the development of intelligent technologies in the defense sector, emphasizing core areas such as edge computing, command and dispatch, simulation, and Beidou navigation [2] - The company has developed a comprehensive domestic solution from chip replacement to system integration, achieving self-control in both hardware and software [2][3] Technological Advancements - The company has created an integrated command and dispatch system that features full-scene replay, intelligent communication, and inspection functions, supporting tactical review and unmanned operations [2] - A lightweight edge computing center has been developed to meet the stringent requirements of military scenarios for low latency and high-security computing power [2] Company Culture and Team Development - The company emphasizes corporate culture and team building, promoting a core value of "patriotism and value contribution" to encourage employees to prioritize national and ethnic interests [2] - Clear short-term and long-term goals, along with effective team structure adjustments and incentive mechanisms, have been established to enhance overall team efficiency and innovation capabilities [2] Challenges and Strategies - Despite significant advancements in intelligent technologies for national defense, the company faces challenges, particularly regarding financial pressures [3] - To alleviate financial strain, the company has implemented various measures, including bank loans, cost reduction, and seeking external financing and partnerships [3] Future Plans - The company plans to increase research and development investment to drive technological innovation and product upgrades, aiming to become a leader in industry innovation [4] - There is a commitment to expanding market channels and strengthening cooperation with upstream and downstream enterprises to build a comprehensive industrial ecosystem [4]

摘要 • 美股 AI 垂类应用自 2024 年下半年起显著增长，教育（Duolingo）、军 工（Palantir）、广告（Applovin）等公司营收和利润超预期，股价实现 5-10 倍增长，为国内 AI 应用提供借鉴。 • Applovin 一季度营收 15 亿美元，广告业务增长 71%，非 GAAP 利润率 达 81%。游戏广告投放领域市占率 28%，并切入电商广告市场，增速迅 猛。相较 Meta 和 Unity，Applovin 在游戏广告投放方面优势明显。 • AI 与程序化广告结合对腾讯、快手等国内企业有启示，可提高 APP 展示时 间及转化率。中长尾程序化广告公司如慧亮、一点股价上涨。汇量科技 Mintegral 平台转型中重度游戏广告，易点天下获 Applovin 大中华区代 理权。 • 教育行业亟需 AI 技术实现大规模、低成本、高质量教育产品。多邻国接入 GPT-4 推出 Duolingo Max，日活用户达 4,600 万，同比增长 44%，付 费订阅用户达 1,030 万，同比增长 40%。 Q&A GPT-4 发布后，AI 应用赛道的关注度如何变化？ 自 2023 年 3 月 GPT ...

外资态度来看，本期较上一季度持股减少的外资基金共计1个，即香港中央结算有限公司，持股减少占 比小幅下跌。 2025年4月18日，华力创通(300045.SZ)发布2024年年度报告。截至2025年4月17日，共有113个机构投资 者披露持有华力创通A股股份，合计持股量达2919.88万股，占华力创通总股本的4.41%。其中，前十大 机构投资者包括香港中央结算有限公司、中国建设银行股份有限公司-国泰中证军工交易型开放式指数 证券投资基金、招商银行股份有限公司-南方中证1000交易型开放式指数证券投资基金、招商银行股份 有限公司-华夏中证1000交易型开放式指数证券投资基金、中国建设银行股份有限公司-富国中证军工指 数型证券投资基金、广发中证1000ETF、广发中证军工ETF、嘉实中证高端装备细分50ETF、中邮核心 优势灵活配置混合A、富国中证1000ETF，前十大机构投资者合计持股比例达3.71%。相较于上一季 度，前十大机构持股比例合计下跌了0.30个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计1个，即国泰中证军工ETF，持股增加占比小幅 上涨。本期较上一季度持股减少的公募基金共计2个，包括南 ...