（原标题：三六零获评年度卓越人工智能应用企业，周鸿祎荣膺年度卓越领袖?） 一、以"安全智能体"筑牢基石，AI应用打开增长新空间 若将时间轴拉长，会发现这家公司进入AI的方式，与大多数"模型公司"有着明显不同。 三六零的底色，并不是算法实验室，而是真实、长期、高频的安全与互联网场景。 从最早的360安全卫士、浏览器、导航，到后来面向政企的安全大脑、攻防体系，公司在过去二十年中 持续沉淀的是两样东西：一是对用户行为的理解能力，二是对风险、威胁与异常的识别经验。这些能力 在传统互联网时代，更多体现为安全工具；而在AI时代，则天然适合作为"智能体"的训练土壤。 2026年12月22日，在格隆汇"金格奖"年度评选中，三六零获得"年度卓越人工智能应用企业"，同时，公 司创始人兼CEO周鸿祎获评"年度卓越领袖"。 随着AI战略取得成绩，在经历了数年的战略调整、业务波动与市场质疑之后，三六零正在被重新放回 到一个更长周期的框架中审视。 市场开始看到，这家以安全起家的老牌互联网公司，基本完成了从"工具型软件厂商"向"AI应用平台型 公司"的实质性演化，并由此具备被重新定价的基础。 也正因如此，三六零并没有选择在参数规模或通用模 ...

2026年12月22日，在格隆汇"金格奖"年度评选中，三六零获得"年度卓越人工智能应用企业"，同时，公司创始人兼 CEO周鸿祎获评"年度卓越领袖"。 随着AI战略取得成绩，在经历了数年的战略调整、业务波动与市场质疑之后，三六零正在被重新放回到一个更长周期 的框架中审视。 市场开始看到，这家以安全起家的老牌互联网公司，基本完成了从"工具型软件厂商"向"AI应用平台型公司"的实质性 演化，并由此具备被重新定价的基础。 一、以"安全智能体"筑牢基石，AI应用打开增长新空间 若将时间轴拉长，会发现这家公司进入AI的方式，与大多数"模型公司"有着明显不同。 三六零的底色，并不是算法实验室，而是真实、长期、高频的安全与互联网场景。 从最早的360安全卫士、浏览器、导航，到后来面向政企的安全大脑、攻防体系，公司在过去二十年中持续沉淀的是 两样东西：一是对用户行为的理解能力，二是对风险、威胁与异常的识别经验。这些能力在传统互联网时代，更多体 现为安全工具；而在AI时代，则天然适合作为"智能体"的训练土壤。 也正因如此，三六零并没有选择在参数规模或通用模型能力上与头部大厂正面竞争，而是确立了"AI+安全"的双主线 战略——其核 ...

Summary of 360 Company Conference Call Industry Overview - The computer application sector is expected to be evaluated from a 2026 perspective, with a strong performance in Q3 2025, indicating a continuation of positive results into Q4 and the following year. The recovery of leading companies is a significant variable, and the current investment strategy focuses on stock selection rather than timing, emphasizing the purchase of undervalued stocks at market lows [2][5] Company Performance - 360 Company's traditional internet advertising business is benefiting from AI development, with projected revenue of nearly 2.1 billion yuan in H1 2025, marking a turnaround. Value-added services like 360 AI Office generated 457 million yuan in revenue in H1 2025, with an annual target of 1 billion yuan [2][6] - The company has introduced innovative AI search products, including 360 AI Search and Nano AI Search Super Agent, exploring a membership plus advertising revenue model, which may reshape its AI search business [2][7] - Revenue for 360 Company is expected to achieve close to double-digit growth in 2025, with profits likely turning positive due to the recovery of traditional businesses, growth in membership products, and reduced investment losses [2][8] Financial Metrics - The gross margin for 360 Company reached 66.1% in 2024, a 5 percentage point increase year-on-year, driven by the decline of low-margin businesses and growth in high-margin AI office services. Revenue growth is projected to be around 10% from 2025 to 2027, with a potential return to profitability in 2025 [4][13][15] - The company has seen a positive revenue growth trend for three consecutive quarters in 2025, primarily due to the recovery of traditional internet business and increased contributions from consumer-end revenue [10] Investment Logic - The core investment logic for 360 Company revolves around its traditional internet advertising business, which is expected to stabilize with the embrace of AI. Despite recent revenue declines, the company is optimistic about its recovery trajectory [6][11] - The introduction of the Nano AI Search Super Agent, which is the first domestic search product based on a super intelligent agent, aims to break down information barriers and utilizes a membership model priced at 59 yuan per month [9] Future Outlook - The company is expected to maintain a strong push rating, with anticipated revenue growth of around 10% from 2023 to 2027, and a potential return to profitability this year [15] - The AI and cybersecurity sectors present significant development opportunities, supported by policy backing and a recovering market environment. The company's core competitiveness lies in its large model capabilities and self-developed AI systems [14] Additional Insights - The revenue structure has shifted, with internet advertising accounting for 53% of total revenue last year, and the value-added business showing significant growth since being integrated into the 360 AI membership model [12] - The company’s chairman holds a direct stake of 5.35%, and strategic adjustments have been made to address losses in the smart hardware business [10]