实数融合深入，乘数效应更加澎湃。各地立足自身资源禀赋，加速推进实数融合，发挥数据要素的放 大、叠加、倍增作用，既让传统产业"发新枝"，又让新兴产业"长成林"。比如，河北发挥钢铁产业集聚 优势，大力推进钢铁大模型建设，赋能钢铁行业高质量发展。还有许多地方结合数据标注基地、数据产 业集聚区建设，推动数据企业发展壮大。 组织开展"数据要素×"大赛是行动计划的一项重要举措。发布会介绍了今年"数据要素×"大赛相关情况。 截至目前，大赛已顺利完成地方分赛阶段的激烈角逐，全国报名队伍突破2.2万支，各地共遴选出近900 个项目入围全国总决赛。国家数据局将印发总决赛通知，于10月中下旬在北京、上海两地举办相关赛道 的全国总决赛评审，届时将通过线上初评、线下评审两个阶段遴选出各赛道优胜项目，并于11月在上海 举办颁奖仪式。 栾婕表示，下一步，将指导地方持续推进行动走深走实，全面完成行动任务和目标；继续支持地方先行 先试、大胆探索，印发数据要素场景指引，充分激活数据要素价值；支持地方深化实数融合，释放数据 要素乘数效应，加快形成以数据要素为引擎的新质生产力，助力地方高质量发展。（本报记者 邱海 峰） 9月28日，国家数据局举办第 ...

Core Viewpoint - The State Council has approved a comprehensive reform pilot program for market-oriented allocation of factors in ten regions, aiming to enhance the efficiency of resource allocation and promote differentiated reforms based on local conditions [1][3]. Group 1: Reform Objectives - The pilot program will focus on the market-oriented allocation of technology, land, human resources, data, capital, and environmental resources, with an emphasis on improving collaborative allocation efficiency [1][3]. - The ten selected regions are expected to explore innovative reforms and will be granted greater autonomy to adjust existing laws and regulations as needed [3][9]. Group 2: Economic Impact - The combined economic output of the ten pilot regions is projected to exceed one-quarter of the national total by 2024, indicating their strong economic foundation and potential for driving reform [3][9]. - The pilot regions will serve as a testing ground for efficient allocation of various resources, supporting major economic provinces in their development [3][9]. Group 3: Specific Reforms by Region - Each pilot region will implement tailored measures, such as Beijing's exploration of a state-owned enterprise R&D reserve fund and the Guangdong-Hong Kong-Macao Greater Bay Area's reform of state-owned venture capital institutions [7][8]. - The regions will also focus on optimizing land use, labor mobility, and capital allocation to enhance economic development [6][9]. Group 4: New Factor Allocation - The pilot program will not only address traditional factors like land and labor but will also explore new types of factors such as data, computing power, and airspace [10][12]. - Regions like Hefei and the Greater Bay Area will develop comprehensive systems for utilizing new factors, which could lead to the emergence of new industries and economic growth [10][12]. Group 5: Service Sector Reforms - The pilot regions will implement reforms in the service sector, particularly in areas like elderly care and commercial health insurance, to meet the growing demand for high-quality services [12][13]. - The reforms aim to eliminate systemic barriers that hinder the growth of the service sector, thereby enhancing consumer spending and domestic demand [12][13].

Group 1 - The company, Yihualu (300212), is focusing on enhancing its competitiveness and achieving performance improvement in areas such as smart transportation, data elements, and integrated computing and storage [1]

Group 1 - The core viewpoint emphasizes that breaking down barriers to factor mobility will significantly enhance total factor productivity, providing long-term support for potential growth [1] - The pilot program for comprehensive reform of factor market allocation is seen as a crucial step towards improving factor allocation efficiency and stimulating innovation [2][3] - The reform aims to deepen the coupling of industrial chains, innovation chains, and capital chains, promoting the evolution of the industrial system towards high-end and intelligent development [1][4] Group 2 - The State Council's meeting highlighted the need to stimulate technological innovation, promote efficient allocation of land factors, and enhance the service capacity of capital factors to the real economy [2] - The pilot areas will be selected based on both "maturity" and "urgency," focusing on regions with high marketization and strong industrial clusters, as well as areas with weak market foundations but significant reform potential [3] - The implementation plan for the pilot program is expected to accelerate its launch by the second half of 2025, aligning with the goal of achieving significant results by that time [4]

Core Viewpoint - The introduction of the "Hubei Data Regulations" marks a transition for Hubei's manufacturing industry from "policy-driven" to "law-driven" digital transformation, providing a legal foundation for the digitalization efforts in the manufacturing sector [1] Group 1: Digital Transformation Progress - As of now, 6,490 industrial enterprises above designated size in Hubei have initiated digital transformation, accounting for nearly one-third of the total [1] - Over 90% of these enterprises have reached Level 2 digitalization and are in the process of upgrading to Level 3 [1] - The numerical control rate of key processes in Hubei's industrial enterprises stands at 69.7%, ranking 7th nationwide, while the penetration rate of digital R&D design tools is 90.7%, ranking 6th [1] Group 2: Future Initiatives - The Hubei Economic and Information Technology Department plans to expand the breadth and depth of data applications in the industrial sector, accelerating changes in industrial models, business models, and organizational structures [2] - A "point-line-surface" transformation demonstration will be established, focusing on comprehensive digital transformation coverage for industrial enterprises, collaborative transformation of industrial chains, and regional cooperation development [2] - The department will enhance the "government guidance-enterprise主体-multi-party collaboration" mechanism, optimizing resources and promoting the integration of the real economy and digital economy [2]

Investment Rating - The report maintains a "Positive" investment rating for the software and services industry [6]. Core Insights - The construction of national data element comprehensive pilot zones is progressing, which is expected to accelerate the landing of data elements and lead to a revaluation of their value across the entire industry chain [2][10]. - The pilot zones, established in ten locations including Beijing, Zhejiang, and Anhui, aim to explore market-oriented and value-oriented paths for the data industry, addressing core issues within the data element sector [10]. - The report suggests focusing on companies with vast data resources and those with strong capabilities in data processing, management, and analysis as potential investment opportunities [2][10]. Summary by Sections Event Description - On July 25, the National Data Bureau held a press conference to introduce the progress of the comprehensive pilot zone construction for data elements [4]. Event Commentary - The pilot work is gradually being carried out, with the expectation that it will address core issues in the data element industry and accelerate its landing process [10]. Policy and Market Development - Related policies are being developed to support the circulation of data elements, with various local governments issuing guidelines to standardize data transactions [10]. - Different pilot zones are applying unique approaches based on local conditions, which will contribute to the exploration of data elements in various scenarios [10].

Core Viewpoint - Sichuan Jiuyuan Yinhai Software Co., Ltd. (referred to as "Jiuyuan Yinhai") is expected to achieve significant growth in both revenue and net profit for the first half of 2025, driven by effective project management and operational efficiency [1][2]. Group 1: Financial Performance - Jiuyuan Yinhai anticipates revenue between 414 million to 454 million yuan, representing a year-on-year growth of 5% to 15% [1]. - The company expects net profit attributable to shareholders to be between 26.49 million to 32.25 million yuan, reflecting a year-on-year increase of 130% to 180% [1]. - The net profit after deducting non-recurring gains and losses is projected to be between 20.21 million to 22.66 million yuan, indicating a year-on-year growth of 230% to 270% [1]. Group 2: Strategic Focus and Market Position - Jiuyuan Yinhai is transitioning from an "order acquisition" model to a "delivery fulfillment" model, enhancing its operational efficiency through refined management practices [1]. - The company is focusing on three strategic areas: healthcare insurance, digital governance, and smart cities, leveraging technologies such as big data, cloud computing, blockchain, and artificial intelligence [1]. - The future development trends in Jiuyuan Yinhai's main business areas are positive, supported by deepening medical reforms and accelerated digital construction in China [2]. Group 3: Innovation and R&D - Jiuyuan Yinhai plans to continue focusing on its core business while enhancing its competitive edge through increased R&D in artificial intelligence, data elements, and blockchain technologies [2]. - The company aims to optimize project management and cost control, striving to achieve its annual operational goals and promote sustainable high-quality development [2].

Performance Forecast - The company expects a positive net profit for the period from January 1, 2025, to June 30, 2025, with an estimated net profit range of 26.49 million to 32.25 million yuan, representing a year-on-year increase [1] - Projected operating revenue is 394.63 million yuan, reflecting a growth of 5% to 15% compared to the same period last year [1] - The net profit attributable to shareholders is expected to be between 20.21 million and 22.66 million yuan, with a significant increase of 230% to 270% in net profit after deducting non-recurring gains and losses [1] Financial Adjustments - The company has made retrospective adjustments to its financial statements for the previous year due to the implementation of new accounting standards regarding quality assurance [2] - Quality assurance fees previously recorded under sales expenses have been reclassified to operating costs, aligning with the new accounting treatment [2] Operational Improvements - The company has implemented measures to enhance management efficiency, reduce costs, and improve gross margins, leading to a positive impact on profit growth [2] - There has been a notable increase in net cash flow from operating activities compared to the previous year, contributing to the overall profit increase [2]

Core Viewpoint - Shanghai is implementing new policies to support the development of the software and information services industry, aiming to maintain its growth momentum and enhance the quality of development [1][4]. Group 1: Policy Measures - The Shanghai government has issued "Several Measures to Promote High-Quality Development of Software and Information Services Industry," which includes four categories and 17 specific initiatives [4]. - The first category involves direct rewards for enterprises without the need for approval, while the second focuses on incentives for artificial intelligence applications [4]. - The third category aims to accelerate the cultivation of new growth drivers, and the fourth is designed to reduce burdens on enterprises [4]. Group 2: Financial Support for Enterprises - For high-quality enterprises, districts are encouraged to reward software and information service companies with annual revenues exceeding 2 billion yuan and growth rates exceeding 1.2 times the city's average [4]. - For small and medium-sized enterprises, one-time rewards are provided based on revenue scale, ranging from 5 million to 30 million yuan [4]. - Micro-enterprises can receive one-time rewards based on growth rates, with amounts ranging from 300,000 to 500,000 yuan [4]. Group 3: Artificial Intelligence Incentives - There are four specific measures to incentivize AI applications, including the use of "computing power vouchers" to support innovation and reduce costs for model deployment [4]. - Support is also provided for collaborative applications of large models in industries such as manufacturing and finance, with funding subsidies of up to 30% for projects with significant application effects [4]. Group 4: Industry Growth Statistics - From January to May this year, the total revenue of Shanghai's software and information services industry exceeded 690 billion yuan, with a year-on-year growth of 20.4%, surpassing the national average of 14.3% [6]. - The software and information technology services sector has been a major driver of growth, with a revenue scale of approximately 360 billion yuan and a year-on-year increase of 27.1% [6]. - Key platform enterprises in Shanghai generated over 290 billion yuan in revenue, accounting for more than 40% of the city's total revenue [6]. Group 5: Regional Support Initiatives - In the Pudong New Area, which accounts for a quarter of the city's software and information services industry, over 1,000 regulated enterprises have been established [7]. - New enterprises can receive up to 50 million yuan in phased support and enjoy rent reductions for up to three years [7]. - High-end talent can apply for the "Pearl Plan," with project subsidies of up to 100 million yuan available to support industry development [7].

Investment Rating - The industry investment rating is "Positive" and maintained [9] Core Viewpoints - On June 5, the National Data Bureau announced the establishment of 10 national data element comprehensive pilot zones in Beijing, Zhejiang, and Anhui, aimed at fostering business entities and expanding the data market, thereby enhancing the integration of the real economy and digital economy [2][5] - The establishment of these pilot zones is expected to address core issues in the data element industry, accelerating the industry's implementation and leading to a revaluation of data element value, benefiting the entire industry chain [2][5] Summary by Relevant Sections Event Description - The pilot zones will support local initiatives in cultivating business entities and expanding the data market, focusing on releasing the potential of the integration between the real economy and digital economy [5] Event Commentary - The construction of national data element comprehensive pilot zones is anticipated to resolve bottlenecks in data application, with the data resource scale in China expected to grow significantly, reaching 51.78ZB by 2025 and 136.12ZB by 2029, with a compound annual growth rate of 26.9% [11] - Local governments are actively responding, with Beijing creating a "one district and three centers" model, aggregating 700 billion public data entries and opening 18,000 datasets [11] - The market reform for data elements is entering a critical phase, with the potential for significant industry shifts as pilot cities improve relevant regulations and systems [11] - The establishment of these pilot zones is seen as a crucial step towards the realization of data element value, suggesting a focus on companies with vast data resources and strong capabilities in data processing, management, and analysis [11]