编号：2025-005 | | 特定对象调研 分析师会议  | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | |  现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 中邮证券孙业亮、中邮证券程宪平、中邮证券田鹏、和聚投资 | | 人员姓名 | 范晓辉、新华基金张帅、个人投资者黄来响 | | 时间 | 2025 年 6 月 18 日（星期三） | | 地点 | 公司展厅及会议室 | | 上市公司接待人 | 董事长、总裁 黎峰 董事会秘书、财务总监 | | 员姓名 | 鲁效停 | | | 人工智能研究所所长 宗云兵 | | 投资者关系活动 | 一、参观公司展厅、介绍公司的基本情况 二、问答环节 1、问：公司在 AI 等技术研发方面的布局如何？ | | | 答：1）公司人工智能的研究方向主要包括大语言模型 | | | （LLM）、自然语言处理（NLP）、知识图谱（KG）以及图像识 | | 主要内容介绍 | 别（CV）、光学字符识别（OCR）等 AI 技术，利用该等技术， | | | 公司目前 ...

2025年AI Agent元年开启，Agent成为海内外大厂兵家必争之地 智通财经APP获悉，东北证券发布研报称，考虑到较为充裕的IT预算资金、市场化的系统以及整合程度 高的内部数据，认为银行有望成为国内AI落地先锋。DeepSeek-R1推理成本仅为对标产品的1/30，推动 行业进入"AI普惠化"新阶段;与此同时，2025年AIAgent元年开启，模型、数据与场景构建核心壁垒。目 前，大行已在投研、客服、信贷审批等领域实现AI技术规模化应用。 东北证券主要观点如下： DeepSeek-R1推理成本仅为对标OpenAI o1系列的1/30，推动行业进入"AI普惠化"新阶段 自2023年7月成立以来，DeepSeek在一年多的时间内推出了多个知名的开源模型。截至2025年5月， DeepSeek发布的模型可分为通用语言模型(V系列)、推理专用模型(R系列)、多模态模型等五大类。其中 DeepSeek-R1在数学、代码和推理任务方面均达到了与OpenAI-o1相当的性能，但推理成本仅为OpenAI o1系列的1/30。该行认为，DeepSeek之所以能做到训练/推理成本优化，归功于混合专家模型(MoE)架 构、多 ...

Financial Performance - The company reported a total revenue of 4.037 billion yuan for the fiscal year 2024, an increase of 18.33% compared to the previous year [1] - The net profit attributable to shareholders was -156 million yuan, a decrease of 9.39% year-on-year [1] - The gross margin was 24.23%, down 15.06% from the previous year, while the net margin was -3.81%, an improvement of 14.96% [1] - The total expenses (selling, administrative, and financial) amounted to 708 million yuan, accounting for 17.53% of revenue, a decrease of 2.02% year-on-year [1] - The earnings per share were -0.18 yuan, a decline of 9.5% compared to the previous year [1] Cash Flow and Financial Health - The company reported a negative operating cash flow of -0.07 yuan per share, a significant decrease of 125.79% year-on-year [1] - The average operating cash flow over the past three years relative to current liabilities is only 19.6%, indicating potential liquidity concerns [3] Business Model and Strategy - The company primarily provides management software services to government departments and large enterprises, relying heavily on research and development for its performance [3] - The company launched the Jiuxi Nvwa GPT platform to assist clients in digital transformation, indicating a focus on integrating AI technology into its services [4] - The company has developed three replicable intelligent products, including "Smart Query Data," "Smart Query," and "Smart Report," aimed at enhancing data analysis and reporting capabilities for clients [4]