在此背景下，报告期内，SSG营收同比提升19.8%至163亿元，创下历史新高；运营利润率达到22.2%， 同比提升1.2个百分点，核心利润引擎地位稳固。其中，支持服务收入实现双位数增长，同比提升 12.2%。运维服务业务及项目与解决方案业务收入分别大幅增长36%和18.3%，合计在SSG整体营收中的 占比较去年同期提升了约3个百分点，已接近60%。 此外，DaaS（设备即服务）成为本季度增长与利润核心引擎，提前锁定客户对灵活aaS（即服务）模式 的需求；TruScale IaaS更是实现同比超200%的超高速增长。人工智能解决方案发展势头强劲，在制造业 和供应链领域尤其表现突出。展望未来，SSG将继续在混合式人工智能优势集的架构下完善能力，强化 核心竞争力。SSG将聚焦数字化办公解决方案、混合云与可持续发展等水平建筑模块或通用解决方案， 深化面向客户关键场景的技术积累与交付能力。同时，在垂直领域，SSG将打造更多简单、高效、可扩 展的AI解决方案，以满足客户的迫切需求，充分释放联想混合式人工智能优势集的潜能。 当前，企业数字化、智能化转型持续推进，推升了全球IT服务市场。Gartner预测，2025年全球IT ...

"人工智能乃未来所向，持续投资势在必行。"这般传统观念，正驱使企业领导者快马加鞭地加大投入、 扩大规模。世界各地的企业领导者纷纷大力批准对人工智能的巨额投资。国际数据公司IDC预测，到 2028年，全球在人工智能领域的支出将高达6320亿美元。 从长远来看，人工智能有望彻底改变企业的运营模式，这并非空穴来风。具有关键意义的第三波浪潮 —— AI代理已悄然来临，它极有可能重塑企业创造价值的路径。 然而，大多数企业并未踏上实现这一价值的正轨。尽管人工智能发展势头迅猛，但51% 的企业尚不具 备成熟的应用能力，仅有4% 的企业借助人工智能获得竞争优势。企业在人工智能投资上之所以未能收 获理想的投资回报率，是因为他们依旧将人工智能视为孤立、零散的解决方案，而未意识到它实则是构 建全新商业模式所需的数据、软件及流程基础。 企业领导者迫切需要一种策略，助力他们在人工智能投资决策上更加明智，且始终以创造价值为核心， 避免盲目砸钱尝试新方案，最后只能碰运气。相反，他们必须确保投资精准聚焦于未来核心价值驱动领 域，以此构建竞争优势。我们为所有企业提供的建议简明扼要。 停下脚步，深度反思 当前，鲜少有企业能够借助人工智能创造价值 ...

合作伙伴之一的浪潮企业云，是中国最早的云服务提供商之一，也是中国行业云领域的领导者。浪潮企 业云供云计算、大数据和人工智能等技术与服务，致力于成为具有专业性、生态系统和可信度三大核心 优势的国际先进企业云计算服务提供商和运营商，为制造、能源、交通、医疗、教育、金融等多个行业 的企业和机构提供全栈云计算服务。其专注于打造软硬件融合的行业智能实体，为客户定制"云+AI"数 字化和智能化解决方案，并与合作伙伴共同建立云帆联盟，支持行业的数字化和智能化转型，为数字世 界的建设贡献力量。 而浪潮计算机在创新技术服务器领域占有14%的市场份额(2024年数据，列行业第一)，产品组合全面， 涵盖高端、商用和便携式计算机，以及全系列服务器(计算、存储、AI、液冷等)，服务于政府、金融等 多个行业。 合作三方共同表示，本次携手合作通过整合金融壹账通的人工智能与金融科技专业知识及香港市场布 局，以及浪潮的云计算、大数据和人工智能硬件实力，旨在如下方面实现突破：一是整合各方在金融、 政府和医疗等领域的资源，开发定制化、创新性的人工智能解决方案;二是借助金融壹账通应用的成功 经验和浪潮的基础设施，跟随"一带一路"的步伐，在全球范围内 ...

Core Viewpoint - Mavenir has completed a comprehensive capital restructuring that will eliminate over $1.3 billion in existing debt and secure $300 million in new priority financing, significantly improving its financial position and preparing the company for sustained growth and long-term success [2][3]. Group 1: Financial Restructuring - The transaction will eliminate over $1.3 billion in existing debt and secure $300 million in new priority financing, along with smaller-scale subordinated financing from Siris and related lenders [2][3]. - Mavenir will benefit from a more robust capital structure, enhanced liquidity, and a significantly reduced net leverage ratio [2][3]. Group 2: Company Vision and Leadership - Mavenir's President and CEO, Pardeep Kohli, emphasized that the company is at the forefront of cloud transformation and is now better positioned to provide innovative solutions to its global customer base [2]. - Hubert de Pesquidoux, Executive Chairman of Mavenir and Executive Partner at Siris, stated that the completion of the transaction reflects the confidence and commitment of Siris and lenders in Mavenir and its mission [3]. Group 3: Industry Position - Mavenir is dedicated to building the future of networks using cloud-native and AI solutions, designed with sustainability in mind, enabling operators to leverage the advantages of 5G [3]. - As a pioneer of Open RAN and a recognized industry disruptor, Mavenir's award-winning solutions are automating and monetizing mobile networks globally, accelerating the software network transformation for over 300 communication service providers in more than 120 countries, serving over 50% of global users [3].

Core Viewpoint - Fourth Paradigm (stock code: 6682) announced a financing plan through the placement of new H-shares, aiming to raise approximately HKD 1.31 billion for various strategic investments [1] Group 1: Financing Details - The company plans to issue 25,900,000 new H-shares at a placement price of HKD 50.50, representing a discount of about 8.9% compared to the closing price of HKD 55.45 on July 16, 2025 [1] - The new shares will account for approximately 5.25% of the existing issued share capital and about 4.98% of the enlarged share capital after the placement [1] Group 2: Use of Proceeds - Approximately HKD 650 million will be allocated for research and development of emerging product areas and solutions [1] - Around HKD 520 million is designated for global business expansion and potential acquisitions [1] - About HKD 130 million will be used for general corporate purposes [1] Group 3: Company Overview - Fourth Paradigm is a leading artificial intelligence company focused on developing and providing innovative AI solutions [1]

Core Insights - The UAE real estate industry is experiencing significant growth opportunities, with artificial intelligence (AI) playing a crucial role in streamlining operations, enhancing customer satisfaction, and identifying market trends [2] Group 1: AI's Impact on Real Estate - AI is revolutionizing the real estate sector in the UAE by transforming traditional business models through data management, customer development, and fraud prevention [3] - AI solutions enable real estate companies to make faster and more accurate data-driven decisions by automating processes and enhancing customer interaction [3] Group 2: Key Areas for AI Application - Identifying areas where AI can create the most value is essential, focusing on collaboration with specialized AI partners in the UAE real estate market [4] - Training teams to adapt to AI technologies is critical for successful implementation, requiring comprehensive employee training on new tools and the value of AI [5] Group 3: Market Analysis and Customer Engagement - AI can analyze data to uncover market patterns, aiding in informed decisions regarding property investments, pricing strategies, and marketing plans [6] - AI algorithms can efficiently identify and predict customer behavior patterns, optimizing marketing resource allocation and improving conversion rates [7] Group 4: Data Management and Market Insights - AI tools can automate the classification, organization, and updating of property information, ensuring accurate and timely data management while saving time and resources [8] - AI assists in analyzing consumer preferences, market dynamics, and transaction data, enabling more accurate identification of investment opportunities and market trends [9] Group 5: Enhancing Customer Experience - Intelligent chat systems equipped with natural language processing can respond to customer needs in real-time, providing personalized recommendations and improving overall customer experience [11] - AI analysis tools offer deep insights into market dynamics, regional trends, and competitive landscapes, providing reliable data for investment and business decisions [12] Group 6: Fraud Prevention - Machine learning algorithms can analyze transaction data to detect suspicious activities, effectively protecting businesses from financial fraud and real estate scams [13] Group 7: Embracing AI for Competitive Advantage - In a rapidly changing real estate market, maintaining a competitive edge is vital, and AI-driven solutions allow companies to streamline operations, reduce risks, and explore new growth opportunities [14]

Group 1 - Qualcomm has established an artificial intelligence research center in Vietnam [1] - The research will focus on advancing generative and agent-based AI solutions in smartphones, personal computers, XR (extended reality), automotive, and IoT applications [1]

Core Points - The article announces the public notice for the selection and commendation of outstanding builders of socialism with Chinese characteristics from the non-public economic sector in Beijing [1] Group 1: Recommended Candidates - Wang Gaofei, CEO of Weimeng Chuangke Network Technology (China) Co., Ltd., recognized for leading the company to become a leading internet platform in China's social media sector [3] - Chen Tianshi, Chairman and General Manager of Cambricon Technologies Co., Ltd., known for his contributions to the design and development of intelligent chip products [5] - Liu Baiqi, Chairman of Beijing Xinghe Power Aerospace Technology Co., Ltd., recognized for his work in the research, manufacturing, and launch services of commercial rockets [7] - Li Xiang, Founder and CEO of Li Auto, noted for the company's ranking of 353rd in the 2023 Hurun Global 500 and 74th in the 2024 China Private Enterprises 500 [11] - Dai Wenyuan, Chairman and Founder of Fourth Paradigm (Beijing) Technology Co., Ltd., recognized for providing platform-centered AI solutions [13] Group 2: Backup Candidate - Mei Xiangrong, Secretary and Director of Yingke Law Firm, recognized for leading the firm to rank first in the Global 200 list of lawyers from 2022 to present [9]

Group 1: Economic Development - In 2024, Nanhui New Town is expected to achieve an industrial output value of 423 billion yuan, accounting for over 10% of the city's total [1] - Industrial investment has exceeded 40 billion yuan for three consecutive years [1] - The total investment for 42 major projects in the 2025 Nanhui New Town Development Action Plan is projected to reach 256.7 billion yuan [3] Group 2: Industry Growth - The Lingang New Area has seen an average annual growth of 34.6% in industrial output value since its establishment, with specialized and innovative enterprises increasing from 26 to 621 [4] - High-tech enterprises have grown from 254 to 1,596, forming significant industrial clusters in smart new energy vehicles and high-end equipment [4] Group 3: Innovation and Technology - A comprehensive technology innovation system has been established in the Lingang New Area, covering the entire chain from basic innovation to application and commercialization [5] - The area hosts over 270 companies in the AI sector, including major players like Ningde Times and SenseTime, focusing on cutting-edge fields such as smart chips and autonomous driving [6] Group 4: Talent Attraction - Nanhui New Town aims to be a preferred destination for young talent, providing comprehensive support for employment and housing [7] - Initiatives include transitional free accommodation for new talent and monthly internship subsidies of up to 5,000 yuan [7] Group 5: Infrastructure and Services - The Shanghai Jiao Tong University Lingang Industrial Innovation Park is designed to meet the needs of key industries such as aerospace and integrated circuits, offering various services [12] - The area is expanding its commercial landscape with four commercial complexes and six key projects under construction [15]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company achieved a robust revenue growth of 21.62% year-on-year in 2024, with total revenue reaching 971 million yuan and a net profit attributable to shareholders of 51 million yuan, reflecting a 23.60% increase [1][2] - The company's strategic focus on "AI + Industry" has led to significant advancements in artificial intelligence applications across various sectors, including power, water conservancy, and rail transportation [2] - The water conservancy and rail transportation sectors have emerged as new growth drivers, with revenue from water conservancy increasing by 47.81% and rail transportation revenue soaring by 484.79% in 2024 [2] Financial Summary - In 2024, the company reported total revenue of 971 million yuan, a year-on-year increase of 21.62%, with segment growth as follows: power (+9.79%), rail transportation (+484.79%), and water conservancy (+47.81%) [1] - The net profit attributable to shareholders for 2024 was 51 million yuan, up 23.60% from the previous year [1] - The gross profit margin for 2024 was 31.77%, a decrease of 3.12 percentage points year-on-year [1] - For Q1 2025, the company reported revenue of 137 million yuan, a 26.54% increase year-on-year, but a net loss of 11 million yuan due to the seasonal nature of revenue recognition [1] Profit Forecast - The profit forecasts for the company have been adjusted to 81 million yuan, 124 million yuan, and 183 million yuan for the years 2025, 2026, and 2027, respectively [2]