本报讯 （记者李乔宇）11月20日至11月21日，由中国企业改革与发展研究会、责任云研究院主办的 ESG中国·第八届北京责任展开幕式暨《企业社会责任蓝皮书（2025）》发布会在北京召开。启明星辰 信息技术集团股份有限公司（以下简称"启明星辰"）凭借在环境、社会及治理（ESG）领域的系统性实 践与突出成效，在大会上荣获"ESG先锋企业"称号，标志着公司继2024年第七届责任展获评"ESG科创 先锋企业"后，其ESG表现再次获得权威认可。 这并非启明星辰近期在ESG领域获得的唯一奖项。此前，启明星辰还获评央视"中国ESG上市公司央企 先锋100（2025）"；在中证ESG评级中获得A类评级。不久前，深圳证券交易所完成对深市上市公司 2024-2025年度信息披露工作评价，启明星辰再次荣获最高评级A（优秀），这也是该公司自2019年以 来连续第六年获此殊荣。 作为中国移动通信集团有限公司（以下简称"中国移动"）专责网信安全专业子公司，启明星辰全面贯 彻"总体国家安全观"，发挥国资央企"科技创新、产业控制、安全支撑"三大作用，肩负起中国移动"安 全核心技术攻坚者、安全产品服务引领者、安全运营体系支撑者"三大角色，勇当 ...

Group 1: Policy and Regulatory Developments - The 18th meeting of the 14th National People's Congress Standing Committee approved amendments to the Cybersecurity Law, effective January 1, 2026, which supports AI foundational research and key technology development [1] - The revised law aims to shift AI governance from partial regulation to systematic regulation, enhancing ethical standards and risk monitoring [1] Group 2: Industry Trends and Company Initiatives - Companies like Deepin Technology are integrating AI into their cybersecurity and cloud computing products, with plans for further investment in AI technology [1] - Tianrongxin has developed a comprehensive security product system and is focusing on deep integration of AI with cybersecurity and intelligent cloud solutions [2] - Ant Group has launched innovative products that combine cybersecurity with AI, including a trusted connection framework for smart glasses [2] - Companies like Qiming Star and AsiaInfo are reporting significant growth in AI model applications and are focusing on AI-driven operational efficiency [2] Group 3: Market Analysis and Investment Opportunities - Analysts suggest that investments in AI infrastructure and applications will increase, particularly in domestic computing power and AI chip sectors [3] - Dongxing Securities highlights a three-dimensional resonance in the AI industry driven by policy, technology, and demand, indicating a positive outlook for domestic chip and cloud computing leaders [3] - Zhongyin International notes that the AI industry is experiencing a "super cycle" in storage, with rising prices for storage chips and ongoing validation of the domestic computing power industry [3] Group 4: Company Performance and Projections - Baidu has been developing large model technology since 2018, with recent upgrades to its models indicating ongoing innovation in AI [4] - Alibaba is investing 380 billion in AI infrastructure over three years, anticipating a tenfold increase in energy consumption by 2032 compared to 2022 [5] - SenseTime is expected to benefit from revenue growth in generative AI and has formed strategic partnerships to enhance its AI computing capabilities [5] - UBTECH has secured significant contracts, including a 126 million yuan project for intelligent data collection and testing [6]

Core Insights - Multiple cybersecurity companies are actively investing in AI technology development, enhancing their product capabilities and operational efficiency [1][2][3] - The integration of AI in cybersecurity is seen as a double-edged sword, presenting both new security risks and opportunities for improved efficiency [1][4] Group 1: Company Developments - Green Alliance Technology plans to launch AI security products, including an AI security integrated machine and a large model security assessment system [1] - North Trust has developed an AI capability platform that integrates large models and development tools, with applications delivered in finance and energy sectors [1][2] - Deepin Technology has incorporated large model technology into its cybersecurity products, including a security GPT and AI firewall, with plans for further investment in AI R&D [2] - Ant Group has released innovative products that combine cybersecurity and AI technology, including a trusted connection framework for smart glasses [2] - Starry Sky Technology's AI model has been applied in security operations and threat detection, significantly enhancing product capabilities [3] - AsiaInfo reported significant growth in AI model applications and deliveries in the first half of the year, focusing on AI model applications, 5G private networks, and intelligent operations [3] Group 2: Industry Trends and Challenges - Gartner's report indicates a shift in focus towards securing AI systems in cybersecurity, with expectations that 60% of large Chinese enterprises will adopt exposure management technology by 2027 [4] - The need for companies to be aware of risks associated with AI model applications, such as prompt injection and model manipulation, is emphasized [4][5] - The importance of supply chain security in AI applications is highlighted, with calls for enhanced version vulnerability management and code security audits [5] - The rapid adoption of AI models is expected to create significant security risks, necessitating a dynamic defense system and cross-departmental collaboration [5][6] Group 3: Recommendations for AI Security - Experts suggest mandatory registration for AI models to identify risks early and ensure comprehensive understanding of their security and usability [6] - Companies are encouraged to conduct compliance assessments and deploy specialized protections, such as AI security barriers, to defend against new types of attacks [6] - Establishing trust through security measures is seen as essential for promoting data flow and maximizing the value of AI applications across various industries [6]

Core Insights - Multiple cybersecurity companies are actively investing in AI technology development, leading to innovative products and solutions in the cybersecurity sector [1][2][3] - The integration of AI in cybersecurity is seen as a double-edged sword, presenting both new security risks and opportunities for efficiency and product enhancement [1][3] Group 1: Company Developments - Green Alliance Technology plans to launch a series of AI security products aimed at protecting large models, including an AI security integrated machine and an AI security fence [1] - North Trust has developed an AI capability platform that integrates large models and tools, which has been deployed in sectors like finance and energy [1][2] - Deepin Technology has incorporated large model technology into its cybersecurity products, including a security GPT and AI firewall, and plans to increase R&D investment in AI [2] - Ant Group has introduced innovative products that merge cybersecurity with AI technology, including a trusted connection framework for smart glasses [2] - Starry Sky Technology's AI model has been applied in security operations and threat detection, enhancing product capabilities and service efficiency [3] - AsiaInfo reported significant growth in AI model applications and deliveries in the first half of the year, focusing on AI model applications, 5G private networks, and intelligent operations as growth engines [3] Group 2: Industry Trends and Challenges - According to Gartner, the focus of cybersecurity in China is shifting towards ensuring the safety of AI, with expectations that by 2027, 60% of large enterprises will adopt exposure management technologies [3][4] - The risks associated with AI model applications include prompt injection and model manipulation, which require careful monitoring and preventive measures [3][4] - The importance of supply chain security in AI applications is emphasized, as vulnerabilities and configuration errors can lead to significant data leaks [4] - The rapid adoption of AI models is likened to the early days of website proliferation, but it also brings a surge in security risks due to the extensive permissions these models may have [4][5] Group 3: Recommendations for AI Security - Experts suggest mandatory registration for AI models to identify risks early and enhance user understanding of their safety and usability [5] - Companies are encouraged to build protective systems for AI applications, including compliance assessments and the deployment of AI security technologies [5] - Establishing trust through security measures is seen as essential for promoting data flow and maximizing the value of AI across various industries [5]

Core Viewpoint - The company is focusing on the strategic layout of "AI + Security" in its core business of cybersecurity, leveraging AI to enhance security capabilities and optimize security models [1] Group 1: AI Empowerment in Security - The company is training and optimizing security large models and building intelligent security agents using AI [1] - The foundation of the security large model is based on China Mobile's Jiutian large model, supported by its powerful computing resources [1] - The company is continuously upgrading the Taihe security large model with high-quality security datasets, significantly improving product capabilities and service efficiency [1] Group 2: AI Application Security - The company is rapidly launching a matrix of large model security products to address security risks associated with large model applications [1] - A systematic solution has been formed to tackle the security risks of AI applications [1] - The company has not participated in the "Liuyun" large model [1]

Group 1 - The core viewpoint of the article highlights the advancements in AI agents, with companies like DeepSeek and China Telecom developing new models to enhance AI capabilities [2] - The company Yingxingshen (启明星辰) has reported progress on its Anxing AI agent, which is already applied in security operations, threat detection, and data security, significantly improving product capabilities and service efficiency [2] - In the "AI agent + security operations" area, the Anxing AI operational system has established a "security intelligent agent collaborative architecture," providing custom agents, knowledge base management, and visual workflow capabilities, enhancing the intelligence level of security operations [2] - The Anxing AI agent is deeply integrated with the XDR system in the "AI agent + threat detection" area, greatly improving the effectiveness of threat hunting, analysis, and defense [2] - The company aims to continuously evolve and innovate the capabilities of the Anxing AI agent to empower more security scenarios [2]

Core Viewpoint - The company has not participated in China Mobile's "Liu Yun" AI logistics model but is focusing on enhancing its own AI capabilities in the cybersecurity domain through collaboration with China Mobile's resources [1] Group 1: Company Strategy - The company is strategically positioning itself in the "AI + Security" direction, leveraging AI to enhance its cybersecurity capabilities [1] - It is training and optimizing a large security model based on China Mobile's Jiutian model, utilizing high-quality security datasets to improve its Taihe security model [1] Group 2: Product Development - The company has developed the Anxing intelligent agent, which is applied in security operations, threat detection, and data security products, significantly improving product capabilities and service efficiency [1] - A matrix of large model security products has been quickly launched to address safety risks associated with AI applications, providing a systematic solution [1]

Core Viewpoint - The company, Qiming Star, emphasizes that its Anxing Intelligent System is primarily designed for cybersecurity scenarios, leveraging self-developed security products and tools to enhance intelligent security operations, threat detection, data analysis, and proactive defense capabilities to address complex threats [1] Group 1 - The Anxing Intelligent System helps users build an AI + security protection system, improving efficiency and capabilities [1] - The company states that its intelligent system does not require adaptation to the Hongmeng Intelligent System in the current application scenarios [1]

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [2][19]. Core Views - The company reported a revenue of 1.133 billion yuan for the first half of 2025, a year-on-year decline of 28.03%. The net profit attributable to shareholders was a loss of 93 million yuan, an improvement from a loss of 182 million yuan in the same period last year [2][9]. - The company is focusing on integrating AI into its operations, leveraging high-quality security data to enhance its AI models and applications, which has shown significant results in project implementations [9][10]. - The company aims to build a collaborative ecosystem in the cybersecurity sector, aligning closely with China Mobile's operational framework through strategic alliances and technological cooperation [9][10]. Financial Summary - The total revenue forecast for 2025-2027 is projected at 3.237 billion yuan, 3.639 billion yuan, and 4.057 billion yuan, with year-on-year growth rates of -2.4%, +12.4%, and +11.5% respectively [5][10]. - The net profit attributable to shareholders is expected to turn positive in 2025, reaching 135 million yuan, and further increasing to 275 million yuan and 400 million yuan in 2026 and 2027 respectively, with growth rates of 159.6% and 104.1% [5][10]. - The earnings per share (EPS) are projected to be 0.11 yuan, 0.23 yuan, and 0.33 yuan for 2025, 2026, and 2027 respectively [5][10].

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 1.133 billion yuan and a net profit growth of 48.78% year-on-year, indicating strong operational performance and improved key metrics [1] - The company is actively pursuing AI-driven security solutions, aligning with government initiatives to integrate digital technology with manufacturing and market advantages, and has launched a new safety protection track for large model applications [2][3] - The company has increased its R&D investment to 37.67% of revenue, up by 3.64 percentage points from the previous year, which supports rapid innovation and product iteration [4] Financial Performance - In the first half of 2025, the company achieved an operating income of 1.133 billion yuan and a net profit growth of 48.78% compared to the same period last year [1] - The company's gross profit margin and accounts receivable metrics have shown continuous improvement, with positive operating cash flow in the second quarter [1] Strategic Initiatives - The company is implementing the "AI+" action plan, optimizing its security large model and intelligent systems, and has developed a collaborative model for security operations, threat detection, and data security [2][3] - The company has launched a systematic large model security product matrix and has successfully executed several benchmark projects, positioning itself to capitalize on new opportunities in the security industry [3] R&D and Innovation - The company emphasizes rapid innovation driven by R&D investments, with a focus on weekly product iterations to meet market demands [4] - The launch of the DeepSeek R1 model has spurred interest in AI applications, leading to heightened attention on security issues from regulators and users [4] Market Outlook - The global market for AI-driven cybersecurity solutions is projected to reach 16.13 billion USD in 2024 and 43.16 billion USD by 2031, with a compound annual growth rate (CAGR) of 15.3% from 2025 to 2031 [5][6] - The company aims to be a leading force in national cybersecurity strategy, focusing on technological innovation and building a robust security framework to support the development of a digital China [6]