飞梭链（FISCO BCOS）开源八年来，已构建国内规模最大、最活跃的国产开源联盟链生态圈之一，汇聚超5000家机构和10万名个人开发者，落地600个产 业数字化标杆应用，成为区块链领域事实标准。其价值重估围绕三大逻辑展开，在多领域实现深度应用。 核心价值逻辑方面，一是与实体经济深度融合，以不可篡改、可追溯特性注入信任基石，重构政务、司法、供应链等领域流程；二是驱动数据基础设施升 级，通过跨境数据验证平台、可信数据空间等激活数据要素价值；三是激发全球金融创新，以"鲶鱼效应"推动央行数字货币、机构级资产代币化等变革。 产业应用覆盖19大领域，标杆案例成效显著。基础设施领域，区块链服务网络BSN构建国家级数字凭证体系；跨境服务领域，深新、深港等跨境数据验证平 台破解信用孤岛，助力跨境融资与人才流动；智慧政务领域，珠江链等优化办事流程，降低信任成本；绿色低碳领域，双碳数据服务专区、碳交易平台推 动"双碳"目标落地；医疗健康领域，临床试验招募系统、检查检验结果互认平台打破数据壁垒；社会公益与乡村振兴领域，实现公益行为可追溯、农产品溯 源与产业赋能；金融服务领域，供应链金融系统、区域股权平台缓解中小微企业融资难题；此外 ...

据了解，可信数据空间基础能力专项检验由中国信息通信研究院依据全国数标委技术文件 TC609-6-2025-01《可信数据空间技术架构》开展，全面覆盖服务 平台管理、接入连接器管理、数字合约管理、安全管理等十三大核心模块，包含70余项检测项。 钱塘征信是首个通过此项检验的个人征信公司，据介绍，其可信数据空间是一个基于安全、可控、可审计原则构建的多主体数据共享与协作基础设施。在实 现跨组织、跨领域的数据高效流通的同时，以征信业务为依托，实现场景侧的数据价值释放。通过技术架构与制度机制的双重保障，钱塘征信可信数据空间 在保护数据安全前提下，支持数据资源的安全共享、合规使用与智能分析。 近日，2025数据资产管理大会在北京召开，会议由中国通信标准化协会主办，中国信通院承办。在会议上，中国信通院颁发了最新一批可信数智化测试证 书，钱塘征信成为首家通过可信数据空间基础能力专项检验证书的个人征信公司，同批获得可信数智化测试证书的还有中国移动、中国联通、中国铁塔、中 电数据、小米等知名企业。 （图说：钱塘征信是首家获得可信数据空间基础能力专项检验证书的个人征信公司） 钱塘征信技术负责人朱乐表示，"我们旨在为机构用户和数据使用 ...

Core Viewpoint - The establishment of a trusted data space in the central state-owned enterprise sector is aimed at accelerating the market-oriented and value-oriented process of data elements, leveraging the role of state-owned enterprises in the national data market reform [1][2]. Group 1: Pilot Program and Key Participants - The State-owned Assets Supervision and Administration Commission announced a pilot program for the construction of trusted data space systems, involving major central enterprises such as China Telecom, China Mobile, China Unicom, and others [1]. - The core task of the pilot program is to promote interconnectivity and ecological co-construction of trusted data spaces across industries and enterprises within the central state-owned enterprise sector [1][2]. Group 2: Infrastructure and Operational Model - The trusted data space will be built on a model of "co-construction, co-creation, sharing, and common use," utilizing dedicated public cloud computing and data transmission networks provided by the three major telecom operators [1][2]. - A unified set of rules for data circulation and a secure environment for trusted data usage will be established, facilitating efficient data sharing, trading, and utilization [2]. Group 3: Innovation and Collaboration - The trusted data space will explore innovative data operation models and revenue distribution mechanisms, promoting collaboration among central enterprises and their upstream and downstream partners [3]. - The initiative aims to incubate new technologies, products, models, and business formats through demand-driven approaches and scenario validation, thereby empowering industrial upgrades and high-quality development [3].

Core Viewpoint - The company, Qimingxingchen Information Technology Group Co., Ltd., has been recognized for its outstanding performance in the ESG (Environmental, Social, and Governance) field, receiving multiple awards and ratings that highlight its commitment to sustainable development and digital security [1][2][4]. Group 1: ESG Recognition and Awards - Qimingxingchen was awarded the title of "ESG Pioneer Enterprise" at the ESG China 8th Beijing Responsibility Exhibition, marking its second consecutive year of recognition in the ESG domain [1]. - The company also received accolades such as being listed among the "Top 100 ESG Listed Companies" by CCTV and achieving an A rating in the China Securities ESG rating [1]. - For six consecutive years, Qimingxingchen has received the highest A rating for information disclosure from the Shenzhen Stock Exchange, indicating its strong governance transparency [4]. Group 2: ESG Management Framework - The company has established a comprehensive ESG management framework that covers decision-making, execution, and supervision, ensuring robust institutional support for sustainable development [4]. - A Sustainable Development Guidance Committee has been set up as the highest decision-making body for ESG initiatives, supported by an execution committee and a permanent office [4]. - In 2024, Qimingxingchen will implement a dual materiality assessment method that incorporates financial perspectives into its ESG topic importance evaluation [4]. Group 3: Environmental Responsibility - Qimingxingchen integrates low-carbon principles into its daily operations, achieving a significant reduction of 676.825 tons of CO2 emissions in 2024 through energy-saving technologies and green office practices [5]. - The company provides green solutions that leverage its cybersecurity technology to support the digital and low-carbon transformation across various industries [5]. Group 4: Technological Innovation and Social Value - The company emphasizes the integration of ESG principles into its technological innovations, particularly in the "AI + Security" domain, establishing a comprehensive security technology matrix [6][7]. - Qimingxingchen has launched the "Jiutian・Taihe Security Model," which integrates core industry data resources to enhance security capabilities [7]. - The company has developed 116 cloud security products that provide lifecycle protection for cloud data and applications, addressing security challenges in data circulation [7][8]. Group 5: Industry Leadership and Future Outlook - Qimingxingchen is actively involved in various emerging sectors, including industrial internet and satellite internet, ensuring the safety of new infrastructure through innovative products [8]. - The company's technological advancements not only represent self-innovation but also transform AI into a new productive force in the security field, enhancing proactive defense capabilities [8]. - As ESG becomes a crucial component of corporate competitiveness, Qimingxingchen's achievements in this area provide valuable insights for sustainable development in China's tech industry [8].

Core Insights - The 2025 Guangdong-Hong Kong-Macao Greater Bay Area Cultural Industry Investment Conference aims to create a one-stop service platform for cultural project financing, focusing on high-quality development in the cultural industry [2][3] - The conference features 120+ investment institutions and 336 cultural enterprises, with 14 institutions managing over 10 billion in assets [2][3] - The event emphasizes the integration of technology and culture, particularly in areas like AI and cultural production [4][5] Investment Trends - The conference aligns with the Guangdong cultural industry "policy package," featuring eight specialized investment roadshows targeting six key sectors: film, performing arts, animation, online gaming, esports, and online audio-visual [3][4] - A total of 65 projects were selected from over 300 submissions for presentation at the conference, highlighting the quality of projects available for investment [3][4] Financial Performance - Previous editions of the conference have facilitated nearly 10 billion in actual financing, with a project conversion rate of approximately 50% [6] - The 2024 conference is expected to attract over 800 investment institutions and enterprises, with a goal of facilitating 56 billion in cooperation agreements [7] Cultural Industry Growth - The Guangdong cultural industry is projected to generate revenue of 30,252.10 billion in 2024, marking a 9.9% increase from the previous year, outpacing the national growth rate [9][10] - The cultural manufacturing sector in Guangdong achieved revenue of 12,639.86 billion in 2024, accounting for 25.5% of the national total, maintaining its leading position [9][10] Investment Focus Areas - The investment landscape is shifting towards head regions, with a focus on long-term investments in cultural technology, particularly in areas like AI, AR/VR, and gaming [10][11] - The report identifies five major trends in cultural industry development: consumer stratification, industrial culturalization, full-chain digitization, emerging scenarios, and market globalization [10][11]

Core Insights - The launch of the first city-level trusted data space in Zhengzhou Airport Economic Comprehensive Experimental Zone marks a significant step in advancing data element market-oriented reform in Henan Province and aligns with the national data strategy [1][2] Group 1: Trusted Data Space Overview - The trusted data space is likened to a highly secure "data collaboration club" or "data sharing vault," where data remains in place while its usage rights can be securely transferred under authorization [2] - This initiative addresses two major pain points in data sharing: concerns over data leakage and the fear of rights infringement [2] Group 2: Implementation and Applications - The platform has already seen partnerships with six companies across various sectors, including personal credit, healthcare, and financial risk control, indicating a broad application of the trusted data space [2] - Future plans include focusing on logistics, healthcare, and cultural tourism to transform data from a "static resource" into a dynamic driver for industrial upgrades and urban governance [2] Group 3: Strategic Importance - Zhengzhou Airport is positioned as a core support in Henan's data element strategy, leveraging its unique advantages in logistics, trade, and manufacturing data [3] - The provincial government is committed to supporting the exploration of data resource authorization and encourages innovative practices in data property rights registration and revenue distribution [3]

Core Viewpoint - Huatai Co., Ltd. is focusing on digital transformation in the paper industry through the development of a "paper industry brain" and trusted data space applications [1] Group 1: Digital Transformation Initiatives - The company is implementing intelligent manufacturing and production management systems that cover the entire process from procurement to production [1] - Systems include production planning driven by the industry brain, smart manufacturing, equipment management, quality inspection, and measurement [1] Group 2: Business Coordination and Management Optimization - The company is enhancing business coordination through systems that facilitate direct financial connections, bank reconciliation, expense reimbursement, project lifecycle management, and online bidding [1] - This approach aims to streamline financial and supply chain collaboration [1] Group 3: Data-Driven Marketing Empowerment - The trusted data space is central to the company's strategy, incorporating marketing business management and digital marketing intelligent services [1] - This enables the integration of production, sales, and research, leading to precise marketing efforts [1] Group 4: Efficiency and Cost Reduction - By leveraging trusted data space technology, the company ensures secure data circulation and builds a data middle platform [1] - The ultimate goal is to enhance production efficiency and reduce costs across the industry chain [1]

Core Insights - Taiji Technology, established in 1987 and listed in 2010, is a leading digital service provider in China with comprehensive digital service capabilities and extensive industry experience [1] Group 1: Business Performance - For Q3 2025, Taiji Technology reported revenue of 4.865 billion yuan, ranking 15th in the industry, surpassing the industry average of 2.833 billion yuan but significantly behind the top competitors [2] - The net profit for the same period was 11.4292 million yuan, ranking 57th in the industry, below the average of 25.9607 million yuan [2] Group 2: Financial Ratios - The asset-liability ratio stood at 63.48%, a decrease from 65.75% year-on-year but still above the industry average of 38.93% [3] - The gross profit margin was 26.74%, lower than the industry average of 29.96% [3] Group 3: Executive Compensation - The president, Zhong Kai, received a salary of 1.1567 million yuan in 2024, an increase of 192,800 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.21% to 54,800, while the average number of shares held per shareholder increased by 0.21% to 11,300 [5] - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with both reducing their holdings [5] Group 5: Strategic Outlook - The company is in a strategic transformation phase, with increased investments leading to short-term profit pressure, but overall performance is on a recovery path [5] - Key highlights include nearly 3 billion yuan in contracts signed driven by the acceleration of the "Xinchuang" initiative and significant growth in AI-related projects [5][6] - The company’s revenue forecast for 2025-2027 is adjusted to 316 million, 428 million, and 495 million yuan respectively, maintaining a strong recommendation rating [5][6]

Core Insights - The company is experiencing short-term profit pressure due to increased investments during its strategic transformation, but overall performance is steadily recovering [1][2] - The company reported a revenue of 4.865 billion yuan for the first three quarters, a year-on-year increase of 12.15%, while the net profit attributable to shareholders was 4 million yuan, up 114.31% year-on-year [1][2] - In Q3 alone, the company generated a revenue of 1.083 billion yuan, a year-on-year decline of 37.18%, and a net profit of -600,000 yuan, down 104.29% year-on-year [1][2] Financial Performance - For the first three quarters, the company achieved an operating cash flow of -1.809 billion yuan, a year-on-year decrease of 13.22% [1] - The company’s R&D expense ratio increased by 4.50 percentage points year-on-year due to heightened investments in databases, data elements, and artificial intelligence [2] Strategic Developments - The company has signed contracts nearing 3 billion yuan driven by the acceleration of the "信创" initiative, with new contracts for the "金仓" project doubling compared to the previous year [2] - The company is actively participating in various AI projects and has launched products such as a trusted data space and a low-code development platform, contributing to a strong start in data and intelligent business [2] Investment Outlook - The company maintains a "strong buy" investment rating, with projected net profits attributable to shareholders of 316 million yuan, 428 million yuan, and 495 million yuan for the years 2025 to 2027 [3]

Core Viewpoint - Taiji Computer Co., Ltd. reported steady recovery in revenue for the first three quarters of 2025, with significant growth in its subsidiary, Electric Science and Technology JinCang [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 4.865 billion yuan, with a net profit attributable to shareholders of 4.0465 million yuan. This represents an increase of 1.083 billion yuan in revenue compared to the first half of 2025, although net profit decreased due to rising costs, expenses, and taxes [1]. - The current operating revenue is approaching the level of the same period in 2023, indicating a steady recovery since the first half of 2024 when the company reported its first loss [1]. Business Development - The company is advancing its "one body, two wings, three engines" strategy, with Electric Science and Technology JinCang showing outstanding performance. In the first three quarters of 2025, new contract amounts for JinCang grew over 100% year-on-year, and operating revenue increased by nearly 50% [2]. Data and AI Initiatives - Data and AI are identified as core transformation directions, with significant investments in data elements, AI models, and applications. The company has launched several products and secured contracts for AI projects with major state-owned enterprises [3]. - The company is actively involved in the development of a trusted data space, intelligent central systems, and low-code development platforms, contributing to various national projects [3]. Electric Science and Technology JinCang Performance - JinCang has achieved significant market expansion, winning contracts for database replacement projects across various sectors, including energy and healthcare. It ranks among the top three in sales of domestic transaction-oriented database management systems [3]. - The company is focusing on time-series data, developing a comprehensive solution that integrates multiple models to enhance efficiency and business value [3]. Trustworthy Innovation Business - The company has signed contracts nearing 3 billion yuan in the trustworthy innovation sector, establishing a product matrix that integrates various computing capabilities and supports clients in addressing compatibility, performance, security, and intelligence issues [3].