创金合信量化多因子股票A（002210）基金经理为董梁、黄小虎。 截至发稿，董梁累计任职时间12年30天，现任基金资产总规模72.36亿元，任职期间最佳基金回报 111.17%， 任职期间最差基金回报-26.54%。 10月23日，迪普科技涨6.14%，截至发稿，报21.43元/股，成交4.70亿元，换手率5.51%，总市值137.97 亿元。 资料显示，杭州迪普科技股份有限公司位于浙江省杭州市滨江区月明路595号迪普科技，成立日期2008 年5月28日，上市日期2019年4月12日，公司主营业务涉及从事企业级网络通信产品的研发、生产、销售 以及为用户提供相关专业服务。主营业务收入构成为：网络安全产品64.81%，应用交付及网络产品 34.23%，其他(补充)0.96%。 从基金十大重仓股角度 数据显示，创金合信基金旗下1只基金重仓迪普科技。创金合信量化多因子股票A（002210）二季度持 有股数19.16万股，占基金净值比例为1.02%，位居第九大重仓股。根据测算，今日浮盈赚取约23.76万 元。 创金合信量化多因子股票A（002210）成立日期2016年1月22日，最新规模3.13亿。今年以来收益 33. ...

截至发稿，盛丰衍累计任职时间8年335天，现任基金资产总规模63.36亿元，任职期间最佳基金回报 184.13%， 任职期间最差基金回报-24.88%。 数据显示，西部利得基金旗下1只基金重仓迪普科技。西部利得中证1000指数增强A（018157）二季度 增持7800股，持有股数25.62万股，占基金净值比例为0.51%，位居第十大重仓股。根据测算，今日浮亏 损失约27.16万元。 西部利得中证1000指数增强A（018157）成立日期2023年4月25日，最新规模3.02亿。今年以来收益 31.19%，同类排名1498/4218；近一年收益37.76%，同类排名1053/3869；成立以来收益30.82%。 西部利得中证1000指数增强A（018157）基金经理为盛丰衍、翟梓舰。 10月22日，迪普科技跌5.01%，截至发稿，报20.10元/股，成交2.99亿元，换手率3.46%，总市值129.41 亿元。 资料显示，杭州迪普科技股份有限公司位于浙江省杭州市滨江区月明路595号迪普科技，成立日期2008 年5月28日，上市日期2019年4月12日，公司主营业务涉及从事企业级网络通信产品的研发、生产、销售 以 ...

Group 1 - The core point of the news is that Dipu Technology's stock price has dropped by 5.24% to 20.79 CNY per share, with a trading volume of 502 million CNY and a turnover rate of 5.63%, resulting in a total market capitalization of 13.385 billion CNY [1] - Dipu Technology, established on May 28, 2008, and listed on April 12, 2019, is based in Hangzhou, Zhejiang Province, and specializes in the research, production, and sales of enterprise-level network communication products, along with providing related professional services [1] - The company's main business revenue composition includes 64.81% from network security products, 34.23% from application delivery and network products, and 0.96% from other sources [1] Group 2 - From the perspective of fund holdings, only one fund under Western Benefit has a significant position in Dipu Technology, specifically the Western Benefit CSI 1000 Index Enhanced A (018157), which increased its holdings by 7,800 shares in the second quarter, bringing the total to 256,200 shares, accounting for 0.51% of the fund's net value [2] - The Western Benefit CSI 1000 Index Enhanced A fund was established on April 25, 2023, with a latest scale of 302 million CNY, achieving a year-to-date return of 32.49% and ranking 1489 out of 4218 in its category [2] - The fund has a one-year return of 45.18%, ranking 1050 out of 3864, and a since inception return of 32.11% [2] Group 3 - The fund manager of Western Benefit CSI 1000 Index Enhanced A is Sheng Fengyan, who has been in the position for 8 years and 329 days, managing a total fund size of 6.336 billion CNY, with the best return during his tenure being 185.04% and the worst being -24.88% [3] - The co-manager, Zhai Zijian, has been in the role for 1 year and 362 days, overseeing a fund size of 1.547 billion CNY, with the best return of 48.23% and the worst return of 39.65% during his tenure [3]

截至发稿，盛丰衍累计任职时间8年328天，现任基金资产总规模63.36亿元，任职期间最佳基金回报 186.18%， 任职期间最差基金回报-24.88%。 翟梓舰累计任职时间1年361天，现任基金资产总规模15.47亿元，任职期间最佳基金回报55.06%， 任职 期间最差基金回报41.97%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，西部利得基金旗下1只基金重仓迪普科技。西部利得中证1000指数增强A（018157）二季度 增持7800股，持有股数25.62万股，占基金净值比例为0.51%，位居第十大重仓股。根据测算，今日浮盈 赚取约27.67万元。连续3天上涨期间浮盈赚取58.93万元。 西部利得中证1000指数增强A（018157）成立日期2023年4月25日，最新规模3.02亿。今年以来收益 30.55%，同类排名1453/4220；近一年收益40.44%，同类排名973/3857；成立以来收益30.18%。 西部利得中证1000指数增强A（0181 ...

从基金十大重仓股角度 数据显示，创金合信基金旗下1只基金重仓迪普科技。创金合信量化多因子股票A（002210）二季度持 有股数19.16万股，占基金净值比例为1.02%，位居第九大重仓股。根据测算，今日浮盈赚取约21.46万 元。 10月14日，迪普科技涨5.5%，截至发稿，报21.50元/股，成交2.08亿元，换手率2.38%，总市值138.42亿 元。 资料显示，杭州迪普科技股份有限公司位于浙江省杭州市滨江区月明路595号迪普科技，成立日期2008 年5月28日，上市日期2019年4月12日，公司主营业务涉及从事企业级网络通信产品的研发、生产、销售 以及为用户提供相关专业服务。主营业务收入构成为：网络安全产品64.81%，应用交付及网络产品 34.23%，其他(补充)0.96%。 黄小虎累计任职时间3年79天，现任基金资产总规模13.29亿元，任职期间最佳基金回报65.37%， 任职 期间最差基金回报16.4%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编 ...

Company Overview - Dipu Technology Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on May 28, 2008. The company went public on April 12, 2019. Its main business involves the research, development, production, and sales of enterprise-level network communication products, along with providing related professional services [1]. - The revenue composition of the company includes 64.81% from network security products, 34.23% from application delivery and network products, and 0.96% from other sources [1]. Financial Performance - As of June 30, 2025, Dipu Technology achieved a revenue of 551 million yuan, representing a year-on-year growth of 9.59%. The net profit attributable to the parent company was 52.15 million yuan, with a slight increase of 0.17% year-on-year [2]. - The company has distributed a total of 313 million yuan in dividends since its A-share listing, with 152 million yuan distributed over the past three years [3]. Stock Performance - On September 23, the stock price of Dipu Technology increased by 2.00%, reaching 19.37 yuan per share, with a trading volume of 242 million yuan and a turnover rate of 3.03%. The total market capitalization is 12.471 billion yuan [1]. - Year-to-date, the stock price has risen by 11.19%, with a 5-day increase of 5.50%, a 20-day decrease of 0.26%, and a 60-day increase of 14.48% [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 24,500, reflecting an 8.79% rise compared to the previous period. The average number of circulating shares per person decreased by 8.08% to 17,165 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 7.399 million shares, which is a decrease of 3.5406 million shares from the previous period [3]. Market Position - Dipu Technology is classified under the Shenwan industry as part of the computer-software development sector, specifically in horizontal general software. The company is associated with several concept sectors, including Huawei Kunpeng, situational awareness, information security, financial and tax informationization, and network security [1].

Company Overview - Dip Technology Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on May 28, 2008. The company went public on April 12, 2019. Its main business involves the research, development, production, and sales of enterprise-level network communication products, along with providing related professional services [1][2]. Financial Performance - For the first half of 2025, Dip Technology achieved operating revenue of 551 million yuan, representing a year-on-year growth of 9.59%. The net profit attributable to shareholders was 52.15 million yuan, with a slight increase of 0.17% year-on-year [2]. - As of June 30, 2025, the company has distributed a total of 313 million yuan in dividends since its A-share listing, with 152 million yuan distributed over the past three years [3]. Stock Performance - As of September 17, 2023, Dip Technology's stock price increased by 2.02% during the trading session, reaching 18.73 yuan per share, with a total market capitalization of 12.059 billion yuan. The stock has risen by 7.51% year-to-date [1]. - The stock's trading volume on September 17 was 128 million yuan, with a turnover rate of 1.66%. The net outflow of main funds was 10.7397 million yuan, while large orders accounted for 19.59% of purchases [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 24,500, up by 8.79% from the previous period. The average number of circulating shares per person decreased by 8.08% to 17,165 shares [2][3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 7.399 million shares, a decrease of 3.5406 million shares compared to the previous period [3]. Business Segments - The company's main revenue sources are network security products (64.81%) and application delivery and network products (34.23%), with other sources contributing 0.96% [1]. - Dip Technology operates within the software development sector, specifically in the computer industry, and is associated with concepts such as financial technology and information security [1].

Market Trends - The domestic market indices showed mixed performance, with the Shanghai Composite Index closing at 3,639.67, up by 0.16%, while the Shenzhen Component Index fell by 0.18% to 11,157.94 [4] - The coal market has seen a significant shift, with the Qinhuangdao port's 5500 kcal thermal coal closing price rising to 667 RMB/ton, surpassing the annual long-term contract price, indicating a recovery in market confidence [7] Coal Industry Insights - The long-term contract price inversion has been resolved, boosting market confidence and leading to an expectation of rising coal prices. The inversion lasted from February 28, 2025, to August 4, 2025, during which the contract fulfillment rate declined [7] - The expectation for coal prices to rise may exceed previous forecasts, particularly for coking coal, which has shown a faster and greater increase than thermal coal [7] - Coal stocks are responding positively to favorable market conditions, with a focus on policy implementation and supply-demand dynamics. Key stocks to watch include Huayang Co., Jinkong Coal, and Shanxi Coking Coal [7] Non-Banking Financial Sector - The Ministry of Finance has announced the reintroduction of VAT on interest income from newly issued government bonds, which is expected to have a limited impact on the industry. The estimated additional tax burden for the securities industry is 5.304 billion RMB, accounting for only 1.18% of the 2024 revenue [8] Company Performance: Zhongchong Co. - Zhongchong Co. reported a revenue of 2.432 billion RMB for the first half of 2025, reflecting a year-on-year growth of 24.32%, with a net profit of 203 million RMB, up by 42.56% [9] - The company’s domestic business continues to grow robustly, with a focus on expanding its brand internationally [9] Company Performance: Dipu Technology - Dipu Technology achieved a revenue of 551 million RMB in the first half of 2025, marking a 9.59% increase year-on-year, while net profit slightly increased by 0.17% to 52 million RMB [11] - The company is accelerating its layout in AI and computing network businesses, indicating a strategic shift towards high-growth areas [11][17] Investment Recommendations - The coal sector is expected to benefit from rising prices, with specific stocks recommended for investment due to their potential for significant returns [7] - For Zhongchong Co., the growth in domestic and international markets suggests a positive outlook for future performance [9] - Dipu Technology's focus on AI and computing networks positions it well for future growth, with an adjusted earnings forecast indicating a strong potential for profitability [15][17]

Core Viewpoint - Dipu Technology (300768) has shown steady revenue growth in the first half of 2025, with a focus on accelerating its layout in AI and computing network new businesses, leading to a "Buy" rating from Shanxi Securities [1][4]. Financial Performance - In the first half of 2025, the company achieved revenue of 551 million yuan, a year-on-year increase of 9.59%, and a net profit attributable to shareholders of 52 million yuan, a slight increase of 0.17% [1]. - For Q2 2025, revenue reached 272 million yuan, up 9.61% year-on-year, with a net profit of 22 million yuan, reflecting a significant increase of 40.20% [1]. - The company's gross margin decreased by 6.18 percentage points compared to the same period last year, influenced by changes in product and customer structure [2]. Cost Control and Efficiency - The company has effectively reduced costs, with selling, administrative, and R&D expense ratios decreasing by 4.67, 0.21, and 1.57 percentage points, respectively, compared to the previous year [2]. - The net profit margin for the first half of 2025 was 9.47%, only slightly down by 0.89 percentage points year-on-year, indicating effective cost control [2]. Product and Business Development - The company is accelerating its layout in AI and computing network businesses, launching products such as an all-operational intelligent security system with a 96.2% accuracy rate and a data classification intelligent system that improves efficiency by over 10 times [3]. - The domestically produced 400G computing switch features advanced technology and self-control capabilities, supporting various data center characteristics and meeting the needs for domestic computing network infrastructure [3]. Investment Outlook - As a provider of comprehensive network security solutions, the company is expected to enhance its profitability through self-research and promotion of application delivery products [4]. - The earnings per share (EPS) forecast for 2025-2027 is adjusted to 0.31, 1.38, and 0.44 yuan, with corresponding price-to-earnings (PE) ratios of 59.55, 48.98, and 41.76 times based on the closing price of 18.44 yuan on August 6 [4].

Investment Rating - The report maintains a "Buy-A" rating for the company [1][6] Core Insights - The company achieved a revenue of 551 million yuan in the first half of 2025, representing a year-on-year growth of 9.59%. The net profit attributable to the parent company was 52 million yuan, a slight increase of 0.17% year-on-year [5] - The company is accelerating its layout in AI and computing network new businesses, with significant advancements in product offerings such as a security operation intelligent body and a domestically produced 400G computing switch [6] - The company is expected to improve its profitability through self-research in underlying hardware and the promotion of application delivery products [6] Financial Performance - In the first half of 2025, the company's revenue from network security products was 319 million yuan, a decrease of 12.76% year-on-year, while revenue from application delivery and network products increased by 81.67% to 169 million yuan [5] - The company's operating income for the first half of 2025 was 1.57 billion yuan from telecom operator clients, up 16.75% year-on-year, while government client revenue decreased by 43.19% to 920 million yuan [5] - The gross profit margin decreased by 6.18 percentage points compared to the same period last year, but the net profit margin was 9.47%, only down 0.89 percentage points year-on-year due to effective cost control [5] Earnings Forecast - The earnings per share (EPS) for 2025-2027 are projected to be 0.31, 0.38, and 0.44 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 59.55, 48.98, and 41.76 times based on the closing price of 18.44 yuan on August 6 [6][8]