人民财讯8月23日电，8月23日，2025中国算力大会期间，联想集团副总裁、中国基础设施业务群总经理 陈振宽分享了联想八年来在智能化转型领域中的成功经验。他透露，联想正与中国电子技术标准化研究 院等权威机构共同推动业内首个高性能训推服务标准的制定，并在会上正式发布《2025 AI方案赋能白 皮书》。 转自：证券时报 ...

8月14日，联想集团交出最新截至6月30日的2025/26财年第一季度业绩：当季营收同比增长22%至1362 亿元人民币，创历史同期新高；非香港财务报告准则下净利润同比增长22%，至28.16亿元人民币；香 港财务报告准则下，联想集团第一财季净利润同比增长108%，达36.6亿元人民币。 联想CFO郑孝明对记者表示，香港准则下的净利润激增主要是非现金性质账面收益。受与中东Alat埃耐 特战略合作的影响，认股权证公允价值重估带来1.52亿美元收益及可换股债券名义利息2800万美元。 联想AI PC销量已经占据所有PC销量的三分之一，远超此前"年末达25%"的预期。 在关税战对全球贸易和供应链造成巨大扰动的背景下，联想集团（HKSE：992）董事长杨元庆上季度 作出"市场份额不掉，利润不掉"的承诺，在最新财报中得到兑现。 财报显示，联想三大主营业务集团均实现双位数增长。IDG智能设备业务集团实现营收973亿元人民 币，同比增长17.8%，其中PC业务创下15个季度以来最快增速；ISG基础设施方案业务集团营收同比增 长35.8%；SSG方案服务业务集团收入增长19.8%，运营利润率为22.2%。 区域表现上，除中国 ...

Core Viewpoint - The article highlights the transformation of Sixian Intelligent from a traditional hardware ODM manufacturer to an AI solution provider, reflecting the broader shift from "Made in China" to "Intelligent Manufacturing in China" [1][5]. Group 1: Industry Context - The PC manufacturing industry is experiencing intense price competition, leading to reduced profit margins, with gross margins compressed to 6%-10% [5]. - Companies are forced to reconsider their positioning in the market, weighing the options between continuing in the low-margin hardware sector or moving towards higher value-added segments [5]. Group 2: Strategic Transformation - Sixian Intelligent initiated a strategic transformation around 2022, shifting from a consumer hardware supplier to an AI computing power provider and AI solution provider, driven by the inevitable trend of upgrading from traditional manufacturing to smart manufacturing [5][6]. - The company has made significant investments in research and development, establishing seven R&D centers across major cities in China, focusing on both domestic and international chip compatibility [7]. Group 3: AI Integration - The integration of AI with hardware is seen as a way to redefine productivity tools, with a focus on enabling efficient operation of AI models across different hardware platforms [7]. - Sixian Intelligent has developed a cross-platform adaptation layer that supports over 200 mainstream AI models, ensuring smooth operation across heterogeneous hardware [7]. Group 4: AI PC Development - The emergence of AI PCs represents a significant evolution from traditional PCs, emphasizing "localized intelligence" that allows for offline task execution based on user habits and data [8]. - The AI PC is designed to make autonomous decisions based on user data, enhancing its functionality beyond mere tools to intelligent agents [8]. Group 5: Future Vision - Sixian Intelligent envisions AI PCs as the starting point for a broader ecosystem, aiming for an open ecological system that allows various devices to communicate and operate seamlessly through a common protocol [9]. - The company is working on a model repository to deploy specialized models for various applications, promoting a truly interconnected environment where devices can understand and execute user commands autonomously [9].

未来，仍需加强多部门协调，落实好支持科技创新和制造业发展等重点领域的结构性减税降费政策，确 保政策红利直达快享。为此，要进一步落实落细税费优惠政策，形成覆盖企业成长和创新全生命周期的 政策支持体系。要加大信息共享、共治力度，依托税收大数据深化拓展"政策找人"推送精度、完善税费 服务诉求解决机制，切实抓好政策落实"最后一公里"。例如，税务部门数据显示，2024年共推送支持科 技创新的税费优惠政策3460万户次（人次），并持续完善了征管服务举措。当然，也需要强化风险防 范，健全常态化联合打击骗享税费优惠的违法行为。 为应对外部环境急剧变化的不确定性，税收政策还应注重与财政、金融、产业、消费等政策协调配合， 从供需两端双向发力，更好地发挥扩内需、支持实体经济发展等政策效能，并根据形势需要出台相应增 量政策。各级政府应持续优化支出结构，始终把科技作为重点支出领域予以优先保障，并注重清理拖欠 企业账款、畅通资金循环。财政政策积极发力的同时，要统筹用好奖补、政府采购、引导基金、财政贴 息、融资担保等工具，更好引导金融、经营主体投入现代化产业体系。还应积极发挥结构性货币政策作 用，加强银行信贷服务、增强资本市场支持力度、完 ...

Core Insights - The core viewpoint of the articles emphasizes the transformation of China's manufacturing industry through AI, particularly illustrated by the collaboration between Yili and Lenovo, which aims to create a new architecture for AI integration in manufacturing [1][2][4] Group 1: AI Transformation in Manufacturing - Traditional manufacturing faces challenges in integrating advanced technologies while ensuring data security and business continuity, leading to the development of a hybrid AI architecture [2] - Yili's proactive approach in digital transformation includes smart manufacturing, supply chain optimization, and comprehensive marketing, supported by Lenovo's hybrid AI capabilities [2][3] - The collaboration has resulted in the creation of over 600 algorithm models, reshaping the entire production chain from farm management to consumer services [2][3] Group 2: Breakthroughs Achieved - Three major breakthroughs were achieved: redefining "human-machine collaboration" to enhance intelligence rather than speed, creating a consumer-centric business model connecting over 60 million consumers, and establishing an intelligent supply chain that significantly reduces transportation costs and improves delivery efficiency [3] - The integration of digital twin technology and MES systems allows real-time visibility of equipment operation, production line status, and energy consumption data, enhancing production control accuracy [3] Group 3: Practical Implications and Global Relevance - Lenovo's global data indicates a nearly 40% year-on-year increase in AI application within organizations, with some companies experiencing a 31% boost in employee efficiency and operational effectiveness [4] - The partnership between Yili and Lenovo exemplifies a unique path for AI transformation in Chinese manufacturing, balancing the adoption of advanced AI technologies with the need for core capabilities to remain autonomous and controllable [4] - This approach not only addresses the immediate needs of Chinese manufacturing but also offers valuable insights for global manufacturing AI transformations by focusing on architectural restructuring rather than mere acceleration [4]

Group 1 - The National Taxation Administration has implemented structural tax reduction and fee reduction policies since 2025, with a focus on delivering policy benefits directly to businesses. In the first five months of this year, tax reductions and refunds supporting technological innovation and manufacturing reached 636.1 billion yuan [1] - In the first five months, high-tech enterprises benefited from tax reductions totaling 140.7 billion yuan, driven by a series of tax incentives aimed at supporting technological innovation. The sales revenue of high-tech industries increased by 14.2% year-on-year, significantly outpacing the overall national growth rate [2] - The manufacturing sector has seen a sales revenue increase of 4.2% year-on-year in the first five months, with advanced manufacturing sectors like computer manufacturing and intelligent equipment manufacturing growing by 21.6% and 19.4%, respectively. Tax reductions and refunds for advanced manufacturing reached 415.8 billion yuan [3] Group 2 - The introduction of the "Guidelines for Major Tax and Fee Incentives Supporting Technological Innovation" in 2024 aims to cover all aspects of technological innovation activities, including corporate income tax and value-added tax [2] - The "Guidelines for Major Tax and Fee Incentives Supporting Manufacturing Development" released in 2024 include 31 policies designed to provide comprehensive guidance for taxpayers and tax officials, facilitating better understanding and application of the policies [3] - The tax authorities are committed to ensuring that policy benefits are quickly and accurately delivered, while also cracking down on fraudulent claims for tax incentives [3]

Group 1 - The National Taxation Administration reported that tax reductions and refunds supporting technological innovation and manufacturing reached 636.1 billion yuan in the first five months of this year, accelerating high-quality development in these sectors [1] - Tax policies have been effectively implemented to ensure that benefits reach businesses quickly, with high-tech enterprises receiving 140.7 billion yuan in tax reductions from a 15% corporate income tax rate, and advanced manufacturing receiving 415.8 billion yuan in VAT reductions and refunds [1] - The tax incentives are aligned with national strategic development, supporting the transformation and optimization of technological innovation and manufacturing, which is beneficial for long-term growth [1] Group 2 - High-tech industry sales revenue increased by 14.2% year-on-year, significantly outpacing the overall national growth rate, indicating rapid growth in innovative industries [2] - The core digital economy sector grew by 10% year-on-year, with national enterprise spending on digital technologies increasing by 9.7%, reflecting orderly progress in the integration of digital and real economies [2] - Manufacturing sales revenue grew by 4.2% year-on-year, with advanced manufacturing sectors like computer and smart equipment manufacturing seeing sales increases of 21.6% and 19.4% respectively, demonstrating the positive impact of tax reduction policies on business transformation and innovation [2]

Company Movements - Douyin has launched a new regulation prohibiting minors under 16 years old from live streaming, and those aged 16 to 18 must obtain written consent from parents or guardians to broadcast [5] - The Shanghai Stock Exchange's M&A Review Committee approved China Shipbuilding's share swap merger with China Shipbuilding Industry Corporation, marking the completion of the largest absorption merger in A-shares in nearly a decade before the registration with the CSRC [5] - Ping An Life announced it continues to increase its stake in Postal Savings Bank's H-shares, surpassing 13% ownership [6] - Saily Medical reported significant uncertainty regarding the success of its therapeutic hypertension vaccine project trial [6] - Jilin Jin Kong and its concerted actions plan to acquire all issued shares of Jilin's first rural commercial bank, which intends to delist from the Hong Kong Stock Exchange [6] Industry News - The second batch of new floating rate funds has been officially submitted, with multiple fund companies including E Fund, Huatai-PB, and others applying for both market-wide and industry-specific products [4] - The Shanghai and Shenzhen Stock Exchanges revised the ETF risk management guidelines, requiring fund managers to enhance the management of ETF subscription and redemption lists [4] - New regulations for algorithmic trading will take effect on July 7, with recent rumors about high-frequency trading frequency changes being denied by several quantitative private equity firms [4] - The Civil Aviation Administration of China has established a leadership group for general aviation and low-altitude economy, focusing on development planning, market regulation, and safety supervision [2] - The Ministry of Industry and Information Technology held a meeting on the photovoltaic industry to address low-price competition and guide capacity optimization, with industry leaders supporting policy directions [2]

Group 1 - The core viewpoint emphasizes that the acceleration of technological innovation will significantly contribute to high-quality development, fostering a virtuous cycle among technology, industry, and finance, and integrating various chains such as funding, innovation, and talent [1][4] - A series of tax and fee reduction policies have effectively supported the cultivation of new productive forces and the high-quality development of the manufacturing industry, with tax reductions and refunds amounting to 424.1 billion yuan in the first quarter of this year [1][2] - The precision of tax reductions reflects the "quality improvement and efficiency enhancement" role of fiscal policy, focusing on R&D investment, venture capital, and key industrial chains, thereby strengthening the innovation capabilities of enterprises [1][3] Group 2 - The comprehensive effects of structural tax reductions and other measures have led to a positive growth trend in innovation momentum, with high-tech industry sales revenue increasing by 13.9% year-on-year in the first four months of this year, significantly outpacing the overall national growth rate [2] - Manufacturing has also shown steady growth, with sales revenue increasing by 4.7% year-on-year in the same period, particularly in advanced manufacturing sectors such as computer and intelligent equipment manufacturing, which saw sales revenue growth of 23.8% and 15.7% respectively [2] - The government has introduced a series of tax incentives covering all aspects of enterprise innovation activities, promoting the high-end, intelligent, and green transformation of the manufacturing sector, thereby enhancing the economy's new driving force [3]

Group 1 - The core viewpoint of the articles highlights the positive impact of tax reduction and fee reduction policies on technological innovation and manufacturing industries in China, with significant growth in sales revenue and innovation momentum [1][2] - In the first quarter of this year, tax reductions and refunds supporting technological innovation and manufacturing reached 424.1 billion yuan, indicating strong government support for these sectors [1] - High-tech industry sales revenue increased by 13.9% year-on-year in the first four months, significantly outpacing the overall national growth rate [1] Group 2 - The sales revenue from national technology achievement transformation services grew by 33.6% year-on-year in the first four months, reflecting the continuous release of new productivity innovation momentum [1] - The manufacturing sector also showed steady growth, with sales revenue increasing by 4.7% year-on-year, particularly in advanced manufacturing such as computer manufacturing and intelligent equipment manufacturing, which saw increases of 23.8% and 15.7% respectively [1] - The structural tax reduction and fee reduction policies have effectively supported the high-quality development of technological innovation and manufacturing industries [1][2]