Group 1 - The core viewpoint of the news is that HaiTian RuiSheng is experiencing comprehensive growth in its three major business segments: computer vision, natural language processing, and intelligent voice, driven by rapid advancements in global AI technology [1] - The increase in the proportion of computer vision and natural language businesses is attributed to technological breakthroughs and growing market demand [1] - The company is involved in the construction of a national training data labeling base, forming a comprehensive solution in the data element field [1] Group 2 - HaiTian RuiSheng's strategic cooperation with Huawei includes projects such as the Ascend DeepSeek data flying intelligent body, Shaanxi Smart Cultural Tourism Project, and the Jingxi Zhigu Digital Human Platform and dubbing platform project [1] - Key drivers for revenue growth in 2025 include two major trends in the AI industry, innovative business layout, and strategic partnerships, particularly with Huawei and the Southeast Asia data delivery system [1] - The company is advancing its global strategy through acquisitions, such as the Philippine delivery base, and accelerating the construction of a global service network [1] Group 3 - The data sources required for training specific vertical domain models are categorized into public data, proprietary customer data, and targeted data collection from vertical scenarios [1] - The data labeling industry is expected to become more intelligent, with data security and compliance capabilities becoming core evaluation dimensions [1] - The company's core competitiveness lies in its dual-mode service products, technical platform capabilities, supply chain resource management, and data security and compliance capabilities [1] Group 4 - The distinction between product data set business and customized service business is that the former involves simulated data, while the latter is pure processing service based on targeted needs [1]

调研纪要：鼎通科技二季度生产订单饱和，营业收入和净利润同比大幅增长，通讯业务占总营收80%， 112G产品需求旺盛，224G和液冷产品将提高收入和利润。马来西亚子公司订单充足，上半年总收入 5158万元，二季度逐渐开始盈利。三季度客户需求旺盛，预计环比仍会有增长。液冷产品二季度小批量 出货，预计年底或2026年初开始量产。Overpass系列产品二季度需求增长较缓，预计三季度表现会更 好。汽车业务上半年增长不明显，预计下半年与比亚迪、长安汽车合作项目及宝马BMS将起量。BMS 项目已有两条自动化产线安装完成，预计年底或2026年初开始量产。112G通讯产品月需求超150万套， 预计三季度仍将有环比增长。224G通讯产品已开始批量试产，预计下半年大批量量产。公司通过购买 机器设备和增加组装线来扩充产能，为后续产品上量做准备。公司对未来业绩有信心，224G通讯产 品、液冷产品和BMS项目将贡献收入和利润。 机构简介： 调研纪要：全球AI技术快速发展推动海天瑞声计算机视觉、自然语言和智能语音三大业务板块全面增 长。计算机视觉和自然语言业务占比提升，得益于技术突破和市场需求增长。公司在数据要素领域通过 参与国家训练数 ...

Core Insights - The rapid development of global AI technology is driving comprehensive growth in the three business segments of Haitian Ruisheng: computer vision, natural language, and intelligent voice [1] - The increase in the proportion of computer vision and natural language businesses is attributed to technological breakthroughs and growing market demand [1] - The company is participating in the construction of national training data labeling bases, forming comprehensive solutions in the data element field [1] Business Collaboration and Growth Drivers - Strategic collaborations with Huawei involve projects such as the Ascend DeepSeek data flywheel intelligent body, Shaanxi Smart Cultural Tourism Project, Jingxi Zhigu Digital Human Platform, and dubbing platform projects [1] - Key drivers for revenue growth by 2025 include two major trends in the AI industry, innovative business layouts, and strategic partnerships with Huawei and Southeast Asia's data delivery system [1] Global Expansion Strategy - The company is advancing its globalization strategy by acquiring a delivery base in the Philippines and accelerating the construction of a global service network [1] - Data sources required for training specific vertical domain models include public data, proprietary customer data, and targeted data collection from vertical scenarios [1] Industry Trends and Core Competencies - The data labeling industry is expected to become more intelligent, with data security and compliance capabilities becoming core evaluation dimensions [1] - The company's core competitiveness lies in its dual-mode service products, technological platform capabilities, supply chain resource management, and data security and compliance capabilities [1] - The distinction between product data set business and customized service business is that the former involves simulated data, while the latter is pure processing service based on targeted needs [1]

根据市场公开信息及8月4日披露的机构调研信息，知名私募趣时资产近期对1家上市公司进行了调研， 相关名单如下： 1）海天瑞声 （趣时资产参与公司分析师会议） 调研纪要：全球AI技术快速发展推动海天瑞声计算机视觉、自然语言和智能语音三大业务板块全面增 长。计算机视觉和自然语言业务占比提升，得益于技术突破和市场需求增长。公司在数据要素领域通过 参与国家训练数据标注基地建设，形成综合解决方案。与华为合作涉及昇腾 DeepSeek数据飞轮智能 体、陕西智慧文旅项目、京西智谷数字人平台及配音平台项目。2025年收入增长的核心驱动因素包括 AI产业的两大发展趋势和创新业务布局，以及与华为的战略合作和东南亚数据交付体系。海外市场拓 展方面，公司全面推进全球化战略布局，通过并购菲律宾交付基地和加快全球化服务网络建设。训练特 定垂向领域大模型所需数据来源分为公开数据、客户自有数据和垂直场景定向采集数据。数据标注行业 将更加智能化，数据安全及合规能力成为核心评价维度。公司核心竞争力体现在服务产品双模式、技术 平台能力、供应链资源管理和数据安全及合规能力。产品数据集业务与定制化服务业务的区别在于前者 是模拟数据，后者是定向化需求的纯 ...