证券代码：300113 证券简称：顺网科技 杭州顺网科技股份有限公司投资者关系活动记录表 | | 特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系 | □媒体采访 | □业绩说明会 | | 活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □其他 | | | 2025 年 08 | 月 22 日 | | | | 开源证券、万和证券、东方证券、中信建投证券、方正证券、浙商 | | | | 证券、华安基金、交银基金、广发基金、金鹰基金、永赢基金、天 | | | | 弘基金、国投瑞银基金、中欧基金、汇添富基金、国联安基金、光 | | | | 大保德信基金、金信基金、泰聚基金、明世伙伴基金、兴银基金、 | | | | 建信基金、博时基金、全天侯基金、歌汝基金、民生加银基金、泰 | | | | 信基金、安联基金、富国基金、创金合信基金、新华基金、西部利 | | | | 得基金、摩根士丹利基金、银河基金、长安基金、上海勤辰私募基 | | | | 金、北京国际信托、太平养老保险、长江养老保险、上海人寿保险、 | | | | 中邮人寿保险、中国人寿资管、平安资 ...

Financial Performance - In Q1 2025, the company's revenue was 131.33 million yuan, a year-on-year decrease of 23.38% [2] - The net profit attributable to the parent company was 3.33 million yuan, a year-on-year increase of 174.70% [2] - The gross margin for Q1 2025 was 33.11%, an increase of 6.33 percentage points compared to Q1 2024 [2] Customer Base and Stability - The top five downstream customer industries in 2024 included manufacturing (23.45%), information transmission, software and IT services, wholesale and retail, and finance [2][3] - The company has established long-term stable relationships with most clients, indicating high customer loyalty [3] Service Offerings and Market Position - The company provides SD-WAN global networking services, cloud security integration (SASE), and multi-cloud interconnection to meet the digital transformation needs of the manufacturing sector [3] - As of Q1 2025, the company has signed over 70 channel partners, including telecom operators and cloud service providers, to enhance its service offerings [4] Network Infrastructure - By the end of 2024, the company had established 76 global network nodes across 35 cities in China and 11 countries, supporting Chinese enterprises' international expansion [5] - The company collaborates with 66 overseas operators to provide diverse network and security solutions [5] Competitive Advantages - The company is the first A-share listed enterprise in the IP-VPN service segment, offering cloud security integration services based on its proprietary SD-WAN and SASE technologies [6] - It differentiates itself from basic telecom operators by being a neutral third-party service provider, combining resources from multiple operators [6] Employee Incentives and Future Plans - The company has completed two phases of its equity incentive plan and plans to implement further incentive mechanisms to attract and retain talent [7] - The company completed a share buyback plan in September 2023, repurchasing 1,427,600 shares, approximately 0.78% of its total share capital [8] Expansion Strategies - The company considers investments, acquisitions, and mergers as important strategies for external expansion to enhance business scale and market share [7]

Core Insights - The article highlights the importance of network stability and security for e-commerce platforms during the annual shopping peak, particularly the 618 shopping festival [1] - The integration of AI technology in operational services is emphasized, showcasing a comprehensive approach to managing increased traffic and potential cyber threats [5][10] Group 1: Network Stability and Security - E-commerce platforms are expected to face a peak in traffic during the 618 shopping festival, necessitating robust network stability and security measures [1] - A specialized technical team from Beijing, Shanghai, and Guangzhou has been established to provide 24/7 support, leveraging extensive experience in large-scale promotional events [1] Group 2: AI Integration and Smart Operations - The company has developed an AI-driven network architecture that combines big data and AI algorithms for traffic peak prediction and resource scheduling [5] - A dedicated flow prediction model has been created using historical data to identify peak traffic periods in advance, allowing for proactive network resource allocation [7] Group 3: Intelligent Fault Detection and Response - An AI operational intelligence platform has been developed to accurately locate fault nodes through multi-dimensional data analysis, enabling automated responses to network issues [8] - This system significantly enhances the efficiency of network fault resolution, ensuring business continuity and stable user experience during peak traffic [8] Group 4: Comprehensive AI Operational Support - The company has established a multi-faceted AI operational support system that encompasses monitoring, defense, recovery, and optimization [10] - This system aims to provide a solid infrastructure foundation for e-commerce clients, ensuring stable network operations during the high transaction volume of the 618 festival [10]

Group 1 - The core theme of the forum is "Good Law and Good Governance to Build a Spiritual Home on the Internet," aiming to integrate efforts from government, industry, academia, and society to create a civilized, safe, and orderly network governance ecosystem [1] - Since the full access to the international internet in 1994, China has adhered to the rule of law in cyberspace, progressively advancing the legalization of the internet, and establishing a comprehensive legal framework for network governance [2] - The comprehensive governance system for the internet in China has matured, becoming a crucial part of the national governance system, providing essential support for building a strong internet nation [2] Group 2 - The enforcement of internet laws has been strengthened, focusing on issues such as illegal collection and use of personal information, online infringement, and anti-competitive practices, with significant actions taken against numerous websites and applications [3] - China actively participates in global internet governance reforms, advocating for a community of shared future in cyberspace, and addressing new governance challenges posed by technologies like artificial intelligence and big data [4] - The forum emphasizes the need for continuous improvement of the network legal system, innovative governance methods, and deepening international cooperation to ensure a safer and more prosperous online environment [4]

Group 1 - The Beijing High People's Court released typical cases of judicial protection for minors online, focusing on network service contract disputes as Children's Day approaches [1] Group 2 - In the case of "Zhang Xiaomou vs. a gaming company," a minor used their mother's phone to download a game and charged over 100,000 yuan, but the gaming company failed to properly implement a real-name authentication mechanism for minors, leading to the court ruling the contract invalid and ordering a partial refund [2] - The court determined that the minor's large recharge behavior was inappropriate for their age and mental capacity, and the gaming company was found to have significant fault for not strictly enforcing the real-name registration for minor users [2] Group 3 - In the case of "Liu Xiaomou vs. a network technology company," a minor accessed a comic reading platform without parental knowledge, incurring charges of over 1,400 yuan for reading inappropriate content, leading to the court ruling the contract invalid and ordering a full refund [3] - The court emphasized the need to protect minors by ensuring that the content provided does not violate public order and morals, highlighting the negative impact of inappropriate content on minors' mental health and values [3]

Core Viewpoint - Japan's GDP experienced a decline of 0.2% in the first quarter of 2024, marking a return to negative growth due to weak personal consumption and a decrease in exports [1][2]. Group 1: Economic Performance - Japan's GDP, adjusted for seasonal variations, fell by 0.2% in Q1 2024, equivalent to an annualized decline of 0.7% [1]. - Personal consumption, which accounts for over half of GDP, grew only 0.04% in the same period, indicating stagnation [1]. - Exports decreased by 0.6%, marking the first negative growth in four quarters, influenced by reduced intellectual property fees and the end of large R&D service orders [1]. Group 2: Consumption and Investment - Food consumption, including meat and fish, saw negative growth, while dining out maintained positive growth due to favorable weather [1]. - Equipment investment, a key component of private demand, increased by 1.4%, particularly in R&D and software, likely linked to digital transformation initiatives [2]. - Public investment declined by 0.4%, while government consumption remained flat with a growth rate of 0.0% [2]. Group 3: Demand Contributions - Domestic demand contributed positively to GDP growth by 0.7 percentage points, marking the first positive contribution in two quarters [2]. - External demand, however, contributed negatively by 0.8 percentage points, also the first negative contribution in two quarters [2].

Core Viewpoint - The rise of online memorial services has transformed traditional Qingming Festival practices, allowing people to commemorate their loved ones virtually through various digital platforms, although this trend raises concerns about pricing and the potential for misuse of personal information [1][21][27]. Group 1: Online Memorial Services - Online memorial services enable users to create virtual memorials for deceased individuals through websites, apps, and social media platforms, allowing for the expression of remembrance anytime and anywhere [1][7]. - The creation of memorials is often free, but users must purchase virtual offerings, which can be expensive, with various pricing structures for different services [11][14][18]. - Platforms like "彼岸思念" and "云寄念" allow users to create memorials without verification of the deceased's information, leading to potential misuse and the creation of memorials for living individuals [11][21]. Group 2: Legal and Ethical Concerns - There have been instances where living individuals have had memorials created in their names without consent, leading to legal disputes over personal rights and privacy [21][26]. - Legal experts emphasize the need for stricter verification processes for online memorial services to prevent the violation of personal rights and ensure compliance with laws such as the Civil Code and the Personal Information Protection Law [27][28]. - The Ministry of Civil Affairs is drafting new industry standards for online memorial services, which aim to regulate the sector and ensure that platforms verify user identities and memorial information [27][28].

Group 1 - The Chinese stock market shows signs of increased activity, driven by government support for AI development and a recovery in technology stocks [1][2] - The Shanghai Composite Index rose nearly 1% and the Hong Kong Hang Seng Index increased by approximately 3%, with significant contributions from tech companies like Xiaomi and Tencent [2] - BYD's stock rebounded by about 3% after a previous drop, attributed to the announcement of AI integration into its driving systems, indicating a broader recovery trend in the Chinese stock market [3] Group 2 - The Chinese government set a 2025 economic growth target of around 5%, aligning with market expectations, while emphasizing the need for expansionary fiscal policies amid challenges from US-China tensions [2] - Longjiang and Hysan's stock surged over 20% following the announcement of a $22.8 billion sale of port operations to BlackRock, exceeding market valuation expectations [3] - Analysts believe that despite the government's support for the tech sector not being new, there remains significant upside potential for technology stocks [2]