中电联党委委员、专职副理事长，水电分会会长于崇德出席论坛并致辞，指出水电是清洁可再生能 源，也是新型电力系统中兼具电量支撑与灵活调节能力的核心电源，在促进新能源消纳、保障系统安全 稳定方面具有不可替代的作用。他强调，推动数字化、智能化技术与水电深度融合，加快智慧水电建 设，是实现水电高质量发展的必由之路。中电联将持续发挥桥梁纽带作用，助力行业转型升级，为构建 清洁低碳、安全充裕、经济高效、供需协同、灵活智能的新型电力系统贡献力量。 水电分会轮值会长单位国家电力投资集团有限公司基础产业部主任邢连中在讲话中表示，构建以新 能源为主体的新型电力系统已成为能源转型的战略方向。水电具有出色的调峰、调频和储能能力，是保 障电网安全稳定、提升系统灵活性的关键支撑。他强调，面对高比例可再生能源带来的波动性挑战，水 电必须加快数字化、智能化转型，深挖运行潜力，提升安全水平，强化调度响应，拓展"水电+"融合发 展新模式。国家电投将充分发挥水电分会轮值会长单位作用，携手行业推进数智化升级与新能源协同发 展，为新型电力系统建设贡献坚实力量。 在主旨演讲环节，业内专家围绕水电数智化转型核心挑战与实现路径展开深度交流。在加快智能运 维升 ...

Report Industry Investment Rating There is no information provided in the content about the report industry investment rating. Core Viewpoints of the Report - The development of Agentic AI is driving the transformation of enterprise ICT infrastructure and operations and maintenance, enabling enterprises to achieve digital and intelligent upgrades [10][11]. - Huawei is actively promoting the application of Agentic AI in enterprise operations and maintenance, providing a series of solutions and case studies to help enterprises improve operational efficiency and user experience [6]. - The future development of enterprise ICT infrastructure will focus on intelligent, autonomous, and collaborative operations and maintenance, with Agentic AI playing a key role [17][21]. Summary by Directory 01 Trend and AEI Overview 1.1 Agentic AI Accelerates Enterprise Digital and Intelligent Upgrade - The development of technology has gone through the information age, digital age, and is now moving towards the digital and intelligent age, with AI becoming the core driving force [9][10]. - Agentic AI is expected to reach the early majority adoption stage in 3 - 6 years, and by 2028, 60% of IT operations and maintenance tools will have AI agent functions [11]. 1.2 AI + New ICT Infrastructure is the Cornerstone of Enterprise Digital and Intelligent Transformation - Enterprises leading in digital and intelligent transformation focus on investing in digital infrastructure and using technology to create value [14]. - AI + ICT infrastructure innovation can accelerate the popularization and monetization of enterprise business, and Huawei predicts significant technological development by 2030 [15]. 1.3 Agentic AI Era of Enterprise ICT Infrastructure Operations and Maintenance - The development of the intelligent world has changed business applications, posing challenges to infrastructure and operations and maintenance systems [16]. - AEI, with features of Adaptive Multi - Agent, Autonomous O&M, and AI Native Infrastructure, aims to improve enterprise digital productivity [19]. - Agentic AI will reconstruct the enterprise operations and maintenance model, and Huawei is committed to promoting the transformation of operations and maintenance from automation to autonomy [21]. 02 Vision, Target Architecture, and Overall Plan 2.1 Huawei AEI Vision - Huawei aims to build a fusion - simplified Agentic AI operations and maintenance solution for enterprise data centers and smart campuses, enabling high availability, excellent experience, and simple operations [22]. 2.2 Huawei AEI Target Architecture - The operations and maintenance mode is transitioning from automation to autonomy, and Agentic AI provides technical support for autonomous operations and maintenance [24]. - The architecture includes intelligent infrastructure, intelligent data中台, intelligent business applications, and Agentic AI operations and maintenance systems, each with specific functions [26][27][30][31]. 2.3 Huawei AEI Overall Plan - Huawei offers three solution capabilities for data centers and smart campuses: computing - network - storage Agentic intelligent strong computing, enterprise - network - terminal Agentic intelligent auxiliary operations and maintenance, and ICT intelligent cloud management Agentic intelligent interconnection [35]. - The implementation of AEI is phased, with different stages achieving cross - domain self - intelligence and group intelligence [38][39]. 03 Value Scenarios and Solutions 3.1 Data Center - Data centers face challenges such as frequent failures, complex fault patterns, low resource utilization, and high energy consumption [42][43][44][45]. - The AEI@DC solution consists of three layers: intelligent infrastructure, Agentic AI operations and maintenance system, and business platform and application [52]. - The solution provides six operations and maintenance value scenarios, including fault handling, experience optimization, and efficient operations [54]. 3.2 Smart Campus - Different industries in smart campuses, such as education, healthcare, finance, and retail, face various operations and maintenance challenges [80][82][85][87]. - Huawei offers two solutions for smart campuses: AEI@Campus large - and medium - sized campus solution and AEI@Campus branch small - sized campus solution [89].

Group 1 - The company achieved operating revenue of 289 million yuan in the first half of 2025, representing a year-on-year growth of 23.65% [2] - The net profit attributable to shareholders reached 16.47 million yuan, an increase of 13.65% year-on-year [2] - The company focuses on three main customer groups: national railways, urban rail, and vocational colleges, with a diverse product line including locomotive and vehicle business, traction power supply, and railway transportation [2] Group 2 - The company has successfully won multiple significant projects in smart training and intelligent operation and maintenance, with new orders in 6A video and fire prevention subsystems exceeding 10 million yuan [2][3] - In the smart vehicle section, the company marked a breakthrough by winning the safety interlocking system project for Taiyuan Railway Bureau, demonstrating the product's application in harsh outdoor conditions [3] - The company signed a significant research project in flexible traction power supply with a local railway, and its products for intelligent freight have achieved record-high order amounts [3]

Core Viewpoint - The company is a leading supplier of intelligent systems for rail transit, focusing on smart training, intelligent operation and maintenance, smart vehicle depot solutions, intelligent traction power supply, and intelligent freight solutions, aiming to enhance safety and efficiency in rail operations [3][20][21]. Company Overview - The company operates in the rail transit sector, providing solutions to various customer groups including national railways, urban rail, and vocational schools [3][20]. - The company has a comprehensive product line that covers multiple application scenarios in the rail transit industry, filling technological gaps and business shortcomings in the industry [20]. Business Strategy - The company follows a "3351" strategic plan, targeting three major customer groups and three main business sectors, while providing five major system solutions [7][20]. - The company integrates advanced technologies such as big data, cloud computing, IoT, 5G, AI, and digital twins into its solutions to enhance operational efficiency and passenger experience [7][20]. Key Products and Solutions - **Smart Training Solutions**: Utilizes digital twin technology and AI for comprehensive training systems covering various rail transit roles, enhancing training quality and efficiency [8][9]. - **Intelligent Operation and Maintenance Solutions**: Focuses on lifecycle health management of vehicles, utilizing IoT and big data for smart analysis and decision-making [11][12]. - **Smart Vehicle Depot Solutions**: Aims to improve operational quality and efficiency through integrated intelligent management platforms [13][14]. - **Intelligent Traction Power Supply Solutions**: Provides efficient power management and energy utilization for rail operations [14][15]. - **Intelligent Freight Solutions**: Enhances operational efficiency and reduces costs through digital transformation of traditional freight models [16][17]. Industry Position - The company has received numerous national honors and is recognized as a key player in the rail transit intelligent systems market, with a strong focus on R&D and innovation [20][25]. - The company is well-positioned to benefit from national policies promoting the development of a comprehensive transportation network and the modernization of rail systems [21][22][23]. Financial Highlights - The company has undergone accounting policy changes affecting the classification of service fees, which may impact financial reporting [26]. - The company has engaged in share buybacks to maintain value and protect shareholder interests, repurchasing approximately 6.12 million shares [28][30].