广发改革混合（001468）成立日期2015年7月27日，最新规模1.97亿。今年以来收益30.74%，同类排名 3361/8238；近一年收益25.5%，同类排名3617/8082；成立以来收益12.7%。 广发改革混合（001468）基金经理为陈少平。 截至发稿，陈少平累计任职时间18年318天，现任基金资产总规模1.97亿元，任职期间最佳基金回报 77.76%， 任职期间最差基金回报-27.18%。 10月9日，安博通涨5.32%，截至发稿，报82.02元/股，成交1.13亿元，换手率1.85%，总市值63.04亿 元。 资料显示，北京安博通科技股份有限公司位于北京市海淀区西北旺东路十号院东区15号楼A座301，成 立日期2007年5月25日，上市日期2019年9月6日，公司主营业务涉及网络安全核心软件产品的研究、开 发、销售以及相关技术服务,为网络安全行业网络安全系统平台与安全服务提供商。主营业务收入构成 为：安全网关39.47%，安全人工智能35.21%，安全管理18.05%，安全服务7.15%，其他(补充)0.12%。 从基金十大重仓股角度 数据显示，广发基金旗下1只基金重仓安博通。广发改革混合（ ...

Group 1 - The core viewpoint of the news is that Anbotong's stock price has declined by 5.03% to 77.40 CNY per share, with a total market capitalization of 5.949 billion CNY as of September 30 [1] - Anbotong Technology Co., Ltd. specializes in the research, development, sales, and related technical services of core software products in network security, with its main revenue sources being security gateways (39.47%), security artificial intelligence (35.21%), security management (18.05%), and security services (7.15%) [1] - The company was established on May 25, 2007, and went public on September 6, 2019, indicating a relatively recent entry into the public market [1] Group 2 - From the perspective of fund holdings, Guangfa Fund has a significant position in Anbotong, with its Guangfa Reform Mixed Fund holding 68,900 shares, representing 2.48% of the fund's net value [2] - The Guangfa Reform Mixed Fund has a total size of 197 million CNY and has achieved a year-to-date return of 29.81%, ranking 3289 out of 8167 in its category [2] - The fund manager, Chen Shaoping, has a tenure of 18 years and 309 days, with the best fund return during his tenure being 74.29% [3]

数据显示，广发基金旗下1只基金重仓安博通。广发改革混合（001468）二季度持有股数6.89万股，与 上期相比持股数量不变，占基金净值比例为2.48%，位居第四大重仓股。根据测算，今日浮亏损失约 33.95万元。 广发改革混合（001468）成立日期2015年7月27日，最新规模1.97亿。今年以来收益29.7%，同类排名 3028/8172；近一年收益46.72%，同类排名3682/7980；成立以来收益11.8%。 9月18日，安博通跌5.03%，截至发稿，报93.11元/股，成交3.17亿元，换手率4.25%，总市值71.56亿 元。 资料显示，北京安博通科技股份有限公司位于北京市海淀区西北旺东路十号院东区15号楼A座301，成 立日期2007年5月25日，上市日期2019年9月6日，公司主营业务涉及网络安全核心软件产品的研究、开 发、销售以及相关技术服务,为网络安全行业网络安全系统平台与安全服务提供商。主营业务收入构成 为：安全网关39.47%，安全人工智能35.21%，安全管理18.05%，安全服务7.15%，其他(补充)0.12%。 从基金十大重仓股角度 广发改革混合（001468）基金经理为陈少 ...

9月11日，安博通涨5%，截至发稿，报105.00元/股，成交1.61亿元，换手率2.05%，总市值80.70亿元。 资料显示，北京安博通科技股份有限公司位于北京市海淀区西北旺东路十号院东区15号楼A座301，成 立日期2007年5月25日，上市日期2019年9月6日，公司主营业务涉及网络安全核心软件产品的研究、开 发、销售以及相关技术服务,为网络安全行业网络安全系统平台与安全服务提供商。主营业务收入构成 为：安全网关39.47%，安全人工智能35.21%，安全管理18.05%，安全服务7.15%，其他(补充)0.12%。 从基金十大重仓股角度 数据显示，广发基金旗下1只基金重仓安博通。广发改革混合（001468）二季度持有股数6.89万股，与 上期相比持股数量不变，占基金净值比例为2.48%，位居第四大重仓股。根据测算，今日浮盈赚取约 34.43万元。 广发改革混合（001468）成立日期2015年7月27日，最新规模1.97亿。今年以来收益22.97%，同类排名 3278/8175；近一年收益38.2%，同类排名4011/7982；成立以来收益6%。 广发改革混合（001468）基金经理为陈少平。 截至发 ...

Core Viewpoint - Anbotong's revenue growth is distinct from its peers, driven by new trade business and a significant revenue surge in Q4 of the previous year, alongside a sharp increase in sales expenses due to the introduction of a new AI security business [1][3]. Revenue Performance - In 2024, Anbotong achieved an annual revenue of 737 million yuan, a year-on-year increase of 34.4%, but reported a net loss of 119 million yuan, a decline of 1107.0% [3]. - The Q1 revenue for 2025 reached 308 million yuan, marking a staggering year-on-year growth of 444.91%, yet the net profit remained negative at -48.68 million yuan [3]. - The Q4 revenue for 2024 was 439 million yuan, accounting for 59.57% of the total annual revenue, which is significantly higher than previous years [5][6]. Business Segmentation - The revenue breakdown by product shows that the AI security segment generated 259 million yuan with a gross margin of 67.44%, while the security gateway and management segments had gross margins of 55.15% and 79.08%, respectively [4]. Sales Expenses - Anbotong's sales expenses have surged, with the sales expense ratio increasing from 18% in 2023 to 89% in Q1 2025, primarily due to channel consulting fees directed towards a mysterious company, referred to as Company C [8][11]. - In 2024, total sales expenses amounted to 222 million yuan, with 135 million yuan allocated to consulting fees for Company C, which specializes in information and communication infrastructure [11]. Industry Context - The cybersecurity industry is experiencing a transformation, with a projected market size of 72.1 billion yuan in 2024, reflecting a slowdown in growth from 9.6% in 2023 to 3.8% [12]. - The competitive landscape is increasingly concentrated, with the top 10 companies holding 46.8% of the market share, leading to challenges for smaller firms [12]. Strategic Developments - Anbotong's strategic upgrade aims to leverage AI in cybersecurity, creating a synergy between technology, market expansion, and ecosystem partnerships with major players like Huawei and Inspur [13]. - The company is focusing on a dual-track strategy to enhance its capabilities in resource management and AI-driven scheduling, with plans for strategic acquisitions and internal restructuring [14].