登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 一、对外投资概述 （一）基本情况 为抢抓数字经济发展新机遇，布局能源产业智能化升级，构建多元化增长格局，增强公司未来发展潜 力，山东圣阳电源股份有限公司（以下简称"公司"）拟与山东发展投资控股集团有限公司（以下简 称"山东发展集团"）、山东发展科创投资有限公司（以下简称"山东发展科创投资"）、山东高速路桥投 资管理有限公司（以下简称"山东高速路桥投资"）、深圳开鸿数字产业发展有限公司（以下简称"深开 鸿"）共同投资设立开源鸿蒙（山东）数字科技有限公司（暂定名，以最终工商登记为准，以下简称"合 资公司"）布局开源鸿蒙生态领域业务。合资公司注册资本为人民币5,000万元，其中，公司拟以自有资 金出资500万元，持股比例10%；山东发展集团出资1,500万元，持股比例30%；山东发展科创投资出资 1,000万元，持股比例20%；山东高速路桥投资出资1,000万元，持股比例20%；深开鸿出资1,000万元， 持股比例20%。 山东发展集团为公司控股股东，山东发展科创投资与 ...

Core Insights - The software and information technology services industry in China is experiencing solid high-quality development, characterized by stable growth, enhanced efficiency, and strengthened capabilities [1] - The industry is expected to maintain a double-digit growth rate throughout the year, driven by the integration of artificial intelligence [1][8] Revenue and Profit Growth - From January to May, software business revenue reached 55,788 billion yuan, a year-on-year increase of 11.2%, while total profit amounted to 6,721 billion yuan, growing by 12.8% [1][2] - Information technology service revenue was 38,096 billion yuan, with a year-on-year growth of 12.0%, accounting for 68.3% of the total industry revenue [1][2] - Software industry profit growth outpaced revenue growth by 1.6 percentage points, indicating improved operational efficiency and a higher proportion of high-value-added services [2] International Market Performance - Software business exports reached 22.71 billion USD from January to May, marking a 3.3% year-on-year increase, transitioning from negative growth in the previous year [2] - The growth in exports is attributed to the expansion into emerging markets and the competitive advantage in AI and cloud computing technologies [2] Regional Development - The eastern region remains the core of the industry, contributing 84.2% of the national software business revenue [2] - The Beijing-Tianjin-Hebei and Yangtze River Delta urban agglomerations showed significant growth rates of 12.3% and 11.9%, respectively [2] Digital Transformation and AI Integration - The integration of software products into various sectors is accelerating the digital transformation of the real economy, driven by AI, big data, and IoT technologies [3][4] - AI is reshaping the software industry by optimizing cost efficiency and enhancing development paradigms through tools like intelligent code generation [4][8] Open Source Ecosystem - The open-source ecosystem is evolving, with significant contributions from various tech companies, leading to the development of numerous open-source software projects [5] - The number of products using the open-source HarmonyOS has exceeded 1.2 billion, with over 25,000 applications and services available [5] Innovation and Market Demand - The software industry is characterized by active technological innovation, with continuous updates to products and an expanding market share for domestic software [7][8] - The convergence of macro demand, technological innovation, and a supportive policy environment is driving sustained growth in the software sector [7] Future Outlook - The software industry is expected to maintain a growth rate of over 10% for the year, with AI, cloud computing, big data, and integrated circuit design remaining key growth areas [8]

Core Viewpoint - The industrial and information technology sectors in China are expected to see steady growth in key economic indicators by the first half of 2025, with significant advancements in manufacturing and digital technologies [1][13]. Industrial Growth - In the first half of 2025, the industrial added value above designated size increased by 6.4% year-on-year, demonstrating strong resilience following a good start in the first quarter [3][14]. - The manufacturing value added accounted for 25.7% of GDP, remaining stable [3][14]. - Manufacturing investment grew by 7.5% year-on-year, supported by major engineering projects under the 14th Five-Year Plan [14]. Equipment Manufacturing - The equipment manufacturing sector continued to show robust growth, contributing 35.5% to the total industrial added value [16]. - The added value of the equipment manufacturing industry increased by 10.2% year-on-year, driving a 3.4 percentage point increase in overall industrial growth [18]. - Key products in the equipment manufacturing sector saw significant production and sales increases, with shipbuilding metrics indicating a global market share of 51.7% for completed orders, 68.3% for new orders, and 64.9% for hand-held orders [20]. Digital Technology Development - Digital technologies, including 5G and AI, are rapidly advancing, with the digital industry achieving a business revenue growth of 9.3% year-on-year, an increase of 3.4 percentage points compared to the previous year [11][16]. - The number of mobile internet users has shown double-digit growth for six consecutive months, with 5G applications integrated into 86 out of 97 major categories of the national economy [45]. Green Transformation - The deep green transformation of traditional industries is a primary task for low-carbon industrial development, focusing on steel, non-ferrous metals, petrochemicals, and building materials [24]. - The goal is to increase the proportion of recycled materials in raw materials by 2027, targeting 22% for scrap steel, 30% for scrap copper, and 25% for scrap aluminum [26]. Financial Support for Manufacturing - The national financial cooperation platform has facilitated over 1.2 trillion yuan in financing for manufacturing enterprises, with an average of nearly 34 million yuan in support per company [37]. - The A-share market raised 148.8 billion yuan for industrial enterprises through various financial instruments, marking a year-on-year increase of 51.6% [41]. Telecommunications Sector - The telecommunications sector maintained stable operations, with a 9.3% year-on-year growth in total telecom business volume, reaching 905.5 billion yuan in revenue [40][44]. - By the end of June, the number of 5G base stations reached 4.55 million, with 5G mobile phone users totaling 1.118 billion, achieving a penetration rate of over 79% [44].

Core Viewpoint - The industrial economy in China showed steady growth in the first half of the year, with significant contributions from key industries and advancements in technology and innovation [2][4]. Group 1: Industrial Economic Performance - The industrial added value of large-scale enterprises increased by 6.4% year-on-year, with the manufacturing sector's contribution to GDP remaining stable at 25.7% [2]. - Key industries such as electrical machinery, automotive, electronics, general equipment, chemicals, and non-ferrous metals experienced rapid growth, enhancing their contribution to overall industrial growth [2]. - All 31 provinces reported growth in industrial added value, with eight major industrial provinces exceeding the national average profit growth rate [2]. Group 2: New Growth Drivers - The equipment manufacturing sector maintained a strong growth trend, accounting for 35.5% of the total industrial added value [2]. - The digital industry saw a business revenue increase of 9.3% year-on-year, with a 3.4 percentage point acceleration compared to the previous year [2]. - Green factories contributed over 20% to the total manufacturing output, and energy consumption per unit of industrial added value continued to decline [2]. Group 3: Innovation and Technology Integration - The Ministry of Industry and Information Technology supported the high-quality development of 1,241 specialized "little giant" enterprises [3]. - The number of registered technology contracts reached nearly 410,000, with a transaction value exceeding 3 trillion yuan, marking a 14.2% year-on-year increase [4]. - The establishment of 33 national manufacturing innovation centers was reported, with a focus on key strategic areas [4]. Group 4: Industrial Transformation and Upgrading - The added value of high-tech manufacturing increased by 9.5% year-on-year, contributing 23.3% to the overall industrial growth [5]. - As of June, the total number of 5G base stations reached 4.55 million, with 5G applications integrated into 86 out of 97 major categories of the national economy [5]. - Software business revenue reached 55.788 billion yuan from January to May, reflecting an 11.2% year-on-year growth [6].

Group 1 - The core viewpoint highlights the robust growth in the computer, communication, and electronic device manufacturing industry, with a year-on-year increase of 11.1% in added value for the first half of the year, surpassing the overall industrial growth rate by 4.7 percentage points [2] - The software and information technology service industry has shown solid progress in high-quality development, with business revenue reaching 557.88 billion yuan, a year-on-year growth of 11.2%, and total profits of 67.21 billion yuan, up 12.8% [2] - The hardware ecosystem is witnessing significant breakthroughs, with multiple domestic companies launching key products in high-growth areas such as security chips and AI-integrated devices, stimulating diverse consumer demand [2] Group 2 - The open-source ecosystem is evolving, with a focus on enhancing open-source software development, as evidenced by the introduction of several open-source projects and a growing community in fields like artificial intelligence and autonomous driving [3] - The open-source HarmonyOS ecosystem has expanded significantly, with over 1,200 product types and more than 1.19 billion devices equipped with the system, alongside a developer base exceeding 7.2 million [3] - The Ministry of Industry and Information Technology plans to promote digital transformation in the electronic information manufacturing industry and enhance the quality of new energy storage solutions [3][4]

Group 1 - The State Council has approved the "Manufacturing Green and Low-Carbon Development Action Plan (2025-2027)", emphasizing the need for green technology innovation and the deep green transformation of traditional industries [4] - 26 new floating rate funds have been registered by the China Securities Regulatory Commission, with fee structures set at 1.2%, 1.5%, and 0.6% for different performance tiers [4] - The People's Bank of China and the State Administration of Foreign Exchange have released a draft for public consultation regarding the management of funds for domestic companies listed overseas, aiming to enhance cross-border financing convenience [4] Group 2 - The National Internet Information Office and financial regulatory authorities have taken action against accounts spreading false information in the capital market and engaging in illegal stock recommendations [5] - The State Administration for Market Regulation is drafting a compliance guideline for the charging behaviors of online trading platforms, aimed at protecting the rights of platform operators [5] - The Financial Regulatory Bureau is seeking public opinion on a draft regulation for asset management product information disclosure, which aims to standardize the disclosure process throughout the product lifecycle [5] Group 3 - Nvidia is reportedly launching a new AI chip for the Chinese market based on the Blackwell architecture, expected to start mass production in June [8] - Haiguang Information (688041) and Zhongke Shuguang (603019) are planning a merger through a share exchange, with their stocks suspended from trading starting May 26 [8] - China Bank (601988), Bank of Communications (601328), and Postal Savings Bank (601658) have received approval for A-share issuance to specific investors, with total fundraising amounts reaching up to RMB 165 billion [9] Group 4 - Weier Shares (603501) plans to issue H-shares for listing on the Hong Kong Stock Exchange to enhance international strategy and overseas business development [9] - Northern Long Dragon (301357) is planning to issue shares and pay cash for asset acquisition, with the stock suspended from trading starting May 26 [10] - Junjian Shares (002929) has terminated its public offering for cash capital increase due to a lack of interested investors [12]

Group 1 - The first cross-border e-commerce TIR international truck from Henan has successfully launched, marking the integration of cross-border e-commerce and TIR transportation mode, enhancing logistics efficiency for inland regions and supporting "Made in China" exports [1] - The first provincial-level open-source Harmony manufacturing innovation center has been established in Qianhai, focusing on core technologies like real-time computing and AI, aiming to develop a unified operating system for distributed heterogeneous multi-machine collaborative robots [1] - SK Group plans to sell 62.9% of its electric vehicle charger manufacturing subsidiary, SK Signet, as part of its business rebalancing efforts, facing significant operational losses [1] - Foxconn has received approval from the Indian government for a $433 million semiconductor joint venture with HCL Group, expected to produce display driver chips with a monthly capacity of 20,000 wafers and 36 million chips [1] - TSMC is set to accelerate its factory construction, planning to build 9 new facilities globally this year, including 8 wafer fabs and 1 advanced packaging plant, with significant advancements in 2nm technology expected [1]

"AI端侧模型与硬件模组一体化"迎接智能终端大爆发。 2025年伊始，DeepSeek的风潮无异于一声惊雷，把大模型再次炸出了圈。 在海外，被这波巨浪冲击到的模型厂——OpenAI、Anthropic、xAI纷纷公布最新进展，力证自家模型依旧领先。 国内，随着微信接入DeepSeek-R1，国内移动互联时代的王炸APP和大模型时代的国运级创新的大模型就此联手。 而在产业场景更深处，DeepSeek这次引发热议的推理模型DeepSeek-R1也引发一些思考。 比如，如何顺利把它运用在强隐私安全保护、不能上互联网处理、需要多模态视觉AI分析、需要更快响应速度并且算力有限的终端侧场景？ 这些场景市场广阔，包括：医疗器械（显微镜、内窥镜等）、手机相册、个人文件存储、家庭NAS、保密安全PC、汽车、手表、智能家居、AI萌宠、机器 人等等。据估计，至2032年全球AI端侧市场有1436亿美元。 DeepSeek提供了蒸馏版模型（如1.5B版本），进一步优化了资源受限硬件的运行能力。以分析苹果出名的分析师郭明錤，日前也发文指出，DeepSeek爆红 后，端侧AI趋势将加速推进。 这种趋势已经开始显现。 在这两天的一场发布会 ...