润建股份1月8日公告，公司与京东科技于2026年1月8日签署了《战略合作框架协议》，双方将围绕AI 应用、智算云拓展、智算AIDC合作等多领域开展合作，促进AI技术商业化应用。该协议预计不会对公 司本年度财务状况及经营业绩构成重大影响。 ...

文 | 极点商业，作者 | 杨 铭，编辑 | 刘珊珊 算力即国力，不是一句口号。全球地缘和科技争夺加剧、人工智能快速迭代的当下，已经成为全球AI 竞速赛的冰冷现实。 以美国为例，正通过芯片禁令、生态绑定与资本优势，构建"算力霸权"——川普就在签署的《赢得AI竞 赛:美国AI行动计划》中，用30项举措和100余条具体政策行动，应对中国AI竞争，"实现并保持全球技 术领域无可争议、无可挑战的主导地位。" 面对算力竞争的日益白热化，中国必须回答一个根本性问题：中国算力核心竞争力究竟来自哪里？是复 制烧钱军备竞赛，还是开辟一条更高效、更普惠、更可持续的智算新路？ 答案，正在浮出水面。 两大头部人工智能国家队——北京信息产业发展投资基金与北京市人工智能产业投资基金就罕见联手， 近日联合领投人工智能基础设施与智算云提供商九章云极，成为近期资本市场最受关注的交易之一。 业界普遍认为，这笔2025年中国算力领域"收官之作"的投资，更是一场关乎算力主权、产业效率与创新 公平的战略抉择：中国投资算力战略重心，正从追求规模，转向推动普惠，从"建多少算力"转向"用好 每一度算力"。 它要回答的，是中国已建成全球第二大规模算力背景下， ...

天融信今年以来股价涨41.37%，近5个交易日涨4.36%，近20日涨2.60%，近60日跌7.15%。 12月31日，天融信盘中上涨2.02%，截至13:22，报9.09元/股，成交1.83亿元，换手率1.76%，总市值 107.21亿元。 资金流向方面，主力资金净流出77.03万元，特大单买入1004.09万元，占比5.48%，卖出908.55万元，占 比4.96%；大单买入3559.95万元，占比19.42%，卖出3732.52万元，占比20.36%。 截至9月30日，天融信股东户数11.87万，较上期增加60.25%；人均流通股9833股，较上期减少37.60%。 2025年1月-9月，天融信实现营业收入12.02亿元，同比减少24.01%；归母净利润-2.35亿元，同比减少 39.10%。 分红方面，天融信A股上市后累计派现4.56亿元。近三年，累计派现4420.17万元。 机构持仓方面，截止2025年9月30日，天融信十大流通股东中，香港中央结算有限公司位居第五大流通 股东，持股1936.38万股，相比上期增加162.25万股。南方中证1000ETF（512100）位居第八大流通股 东，持股107 ...

12月25日，天融信盘中上涨2.07%，截至10:42，报8.89元/股，成交1.23亿元，换手率1.20%，总市值 104.85亿元。 资金流向方面，主力资金净流入1580.04万元，特大单买入889.62万元，占比7.21%，卖出0.00元，占比 0.00%；大单买入2377.39万元，占比19.28%，卖出1686.97万元，占比13.68%。 天融信今年以来股价涨38.26%，近5个交易日涨4.10%，近20日跌0.11%，近60日跌11.28%。 今年以来天融信已经7次登上龙虎榜，最近一次登上龙虎榜为10月29日，当日龙虎榜净买入2.28亿元； 买入总计3.41亿元 ，占总成交额比14.82%；卖出总计1.13亿元 ，占总成交额比4.92%。 资料显示，天融信科技集团股份有限公司位于广东省汕头市金平区东厦路1号世纪海岸雅园6,7幢6幢 1407号房全套,北京市海淀区西北旺东路10号院西区11号楼东侧，成立日期1985年8月30日，上市日期 2008年2月1日，公司主营业务涉及网络安全业务。主营业务收入构成为：网络安全86.98%，智算云 12.40%，其他0.63%。 天融信所属申万行业为：计算机- ...

Core Viewpoint - Tianrongxin's stock has shown a significant increase of 35.61% year-to-date, despite recent declines in the short term [1][2]. Group 1: Stock Performance - As of December 19, Tianrongxin's stock price rose by 2.11% to 8.72 CNY per share, with a total market capitalization of 10.285 billion CNY [1]. - The stock has experienced a slight decline of 0.11% over the last five trading days, 1.25% over the last twenty days, and 11.92% over the last sixty days [1]. - The company has appeared on the trading leaderboard seven times this year, with the most recent appearance on October 29, where it recorded a net purchase of 228 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Tianrongxin reported a revenue of 1.202 billion CNY, reflecting a year-on-year decrease of 24.01%, and a net profit attributable to shareholders of -235 million CNY, down 39.10% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 456 million CNY, with 44.2017 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders increased to 118,700, a rise of 60.25%, while the average number of circulating shares per person decreased by 37.60% to 9,833 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 19.3638 million shares, an increase of 1.6225 million shares compared to the previous period [3].

天融信（002212.SZ）11月26日在投资者互动平台表示，公司在低空经济领域积极布局，提供网络安 全、数据安全、智算云等产品及解决方案，覆盖低空经济涉及的基础设施、基站、飞行器等场景。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵司是否在"低空经济"领域的网络安全有所布局？ 如果有的话，请问是软件方面的安全吗？ ...

Core Insights - Kingsoft Cloud has reported impressive financial results driven by its AI strategy, achieving a revenue of 2.48 billion yuan in Q3, a year-on-year increase of 31% [1] - The adjusted operating profit turned positive at 15.36 million yuan, with an adjusted operating profit margin of 0.6%, and the adjusted net profit reached 28.73 million yuan for the first time [1] - The revenue from intelligent computing cloud services grew at a rapid pace, reaching 780 million yuan, accounting for 45% of the public cloud revenue [1] Company Performance - The demand for AI computing power and ecosystem collaboration have significantly contributed to Kingsoft Cloud's accelerated revenue growth and improved profitability [1] - Kingsoft Cloud is expected to benefit from a revaluation opportunity as it establishes a high-quality growth path driven by AI [1] Market Trends - The intelligent computing market in China is experiencing explosive growth, with IDC predicting a compound annual growth rate of 46.2% from 2023 to 2028, providing substantial growth opportunities for cloud vendors like Kingsoft Cloud [2] - Kingsoft Cloud is strategically positioned to capture growth from the Xiaomi ecosystem, with a transaction limit of 11.3 billion yuan for 2025-2027, indicating significant potential for business growth [2] Strategic Developments - The recent completion of Xiaomi's smart home appliance factory in Wuhan is expected to drive exponential growth in computing power demand, with Kingsoft Cloud being the sole strategic cloud provider within the ecosystem [2] - Various international institutions, including UBS, Jefferies, Bank of America, JPMorgan, and Citigroup, have expressed positive growth expectations for Kingsoft Cloud, with recommendations to "buy" [2]

Core Insights - Kingsoft Cloud (KC.US, 03896) reported its Q3 2025 financial results, showcasing steady implementation of its AI strategy and resilient growth in core business [1] Financial Performance - Q3 revenue reached 2.48 billion yuan, with a year-on-year growth rate accelerating from 24% in the previous quarter to 31% [1] - Intelligent computing cloud billing revenue amounted to 780 million yuan, marking a nearly 120% year-on-year increase, contributing to 45% of public cloud revenue [1] - Public cloud revenue was 1.75 billion yuan, while industry cloud revenue was 730 million yuan, both showing sequential and year-on-year growth, with public cloud revenue up 49% year-on-year [1] Profitability Metrics - Adjusted gross profit stood at 390 million yuan, reflecting a year-on-year increase of 28% [1] - Adjusted operating profit turned positive at 15.36 million yuan, with an adjusted operating profit margin of 0.6% [1] - Adjusted net profit achieved profitability for the first time at 28.73 million yuan [1]

季度内，金山云围绕人工智能全面升级基础云和智算云，已初步构建了全栈AI技术能力。受益于此， 公司不仅成功支撑了互联网行业头部客户大规模推理算力需求，还在人工智能领域拓新方面实现业务突 破。得益于智算云与基础云的同频发展，公司生态内外客户用量同步攀升。本季度，智算云账单收入达 7.8亿元，同比增长近120%，在公有云收入占比达45%。 11月19日，金山云(NASDAQ:KC，HKEX:3896)发布2025年第三季度财报。财报显示，金山云Q3营收 24.8亿元，同比增长31%；其中，公有云实现收入17.5亿元，同比大幅增长49%。 ...

11月19日，金山云(KC.US，03896)发布2025年第三季度财报。财报显示，金山云Q3营收24.8亿元，同 比增长31%；其中，公有云实现收入17.5亿元，同比大幅增长49%。季度内，金山云围绕人工智能全面 升级基础云和智算云，已初步构建了全栈AI技术能力。受益于此，公司不仅成功支撑了互联网行业头 部客户大规模推理算力需求，还在人工智能领域拓新方面实现业务突破。得益于智算云与基础云的同频 发展，公司生态内外客户用量同步攀升。本季度，智算云账单收入达7.8亿元，同比增长近120%，在公 有云收入占比达45%。 ...