9月30日，高新兴涨1.22%，成交额2.90亿元。两融数据显示，当日高新兴获融资买入额2839.51万元， 融资偿还3829.14万元，融资净买入-989.62万元。截至9月30日，高新兴融资融券余额合计5.34亿元。 融资方面，高新兴当日融资买入2839.51万元。当前融资余额5.34亿元，占流通市值的5.29%，融资余额 低于近一年30%分位水平，处于低位。 融券方面，高新兴9月30日融券偿还4500.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量2500.00股，融券余额1.45万元，低于近一年20%分位水平，处于低位。 截至6月30日，高新兴股东户数9.64万，较上期减少5.64%；人均流通股15985股，较上期增加5.98%。 2025年1月-6月，高新兴实现营业收入8.97亿元，同比增长36.24%；归母净利润2628.96万元，同比增长 683.10%。 分红方面，高新兴A股上市后累计派现1.81亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，高新兴十大流通股东中，香港中央结算有限公司位居第三大流通 股东，持股1867.70万股，相比上 ...

9月17日，高新兴跌0.96%，成交额4.65亿元。两融数据显示，当日高新兴获融资买入额3835.82万元， 融资偿还5333.22万元，融资净买入-1497.40万元。截至9月17日，高新兴融资融券余额合计5.97亿元。 截至6月30日，高新兴股东户数9.64万，较上期减少5.64%；人均流通股15985股，较上期增加5.98%。 2025年1月-6月，高新兴实现营业收入8.97亿元，同比增长36.24%；归母净利润2628.96万元，同比增长 683.10%。 分红方面，高新兴A股上市后累计派现1.81亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，高新兴十大流通股东中，香港中央结算有限公司位居第三大流通 股东，持股1867.70万股，相比上期增加601.57万股。 责任编辑：小浪快报 融资方面，高新兴当日融资买入3835.82万元。当前融资余额5.96亿元，占流通市值的5.55%，融资余额 超过近一年50%分位水平，处于较高位。 融券方面，高新兴9月17日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元；融 券余量6.01万股，融券余额37.20万 ...

Core Viewpoint - The Henan Provincial Government has issued an action plan to accelerate the integration of artificial intelligence into new industrialization from 2025 to 2027, focusing on breakthroughs in AI terminals and high-end chip development [1] Group 1: AI Terminal Development - The plan emphasizes the need to enhance the development of high-end chips and strengthen the production of AI smartphones, personal computers, and large model integrated machines [1] - It aims to support the integration of terminal products with large models to explore new product forms [1] Group 2: Sector-Specific Applications - The action plan targets various sectors including smart cities, smart education, smart environmental protection, smart transportation, and smart healthcare [1] - Development of high-end components such as intelligent sensors and integrated circuits is highlighted to meet the demands of these sectors [1]

Core Viewpoint - The company has established a long-term strategic partnership with Huawei in the field of urban safety and is the first external customer to obtain authorization for the Balong 5G RedCap platform in its vehicle terminal business [2]. Group 1 - The company is the first external customer to receive authorization for the Balong 5G RedCap platform [2]. - The company has maintained a strategic partnership with Huawei for several years in the urban safety sector [2]. - The company is recognized as a leading ISV and ecosystem partner in collaboration with Huawei [2].

Core Insights - The 2025 World Intelligent Industry Expo (2025智博会) will host 11 industry matchmaking activities aimed at promoting cross-domain, cross-regional, and cross-level industrial collaboration and innovation [1] Group 1: Event Overview - The expo will take place from September 5 to 8, 2025, in Chongqing [1] - The event will focus on high-quality matchmaking activities for large, medium, and small enterprises, including specialized sessions on AI terminal industry chains, smart industry equity financing, and B2B digital empowerment [2] Group 2: Participation and Collaboration - Major companies such as Lenovo, Changan, Seres, OPPO, and Baidu will share application scenario demands in mobile, automotive, and wearable terminal fields [2] - Financial institutions like Industrial Securities, CCB Equity, and Shenchuang Investment will engage in deep financial demand matchmaking [2] - Huawei will collaborate with over 20 digital service providers to offer solutions for the digital transformation of advanced manufacturing [2] Group 3: Specialized Activities - The expo will organize high-standard matchmaking activities to consolidate outcomes and promote cooperation across regions and industries [2] - Two supply-demand matchmaking events will be held in collaboration with Tianjin, focusing on AI-enabled biomedicine and intelligent manufacturing equipment [2]

Investment Rating - The report maintains an "Overweight" rating for the company with a target price of 5.73 RMB [7][5]. Core Insights - The company reported a revenue of 8.97 million RMB and a net profit of 0.26 million RMB for 1H25, marking a year-on-year increase of 36% and a return to profitability, primarily driven by the successful expansion of its vehicle terminal business and an increase in the proportion of high-quality B-end business, leading to a significant improvement in gross margin [1][2]. - The vehicle terminal business achieved a record revenue of 5.19 million RMB in 1H25, up 47.3% year-on-year, with automotive terminal and rail transit terminal products generating revenues of 3.23 million RMB and 1.96 million RMB, respectively [2][3]. - The company has a comprehensive C-V2X product matrix and is well-positioned to benefit from the integration of vehicle-road-cloud construction, with significant growth potential in the vehicle-road-cloud market projected to reach 417.4 billion RMB by 2030 [4][5]. Summary by Sections Financial Performance - In 1H25, the company achieved a gross margin of 37.25%, an increase of 3.69 percentage points year-on-year, attributed to an improved product mix and a higher proportion of quality B-end business [3]. - The company’s sales expense ratio, management expense ratio, and R&D expense ratio decreased significantly, reflecting a substantial dilution of expense ratios due to revenue growth [3]. Business Segments - The vehicle terminal business revenue reached 5.19 million RMB, with automotive terminals growing by 79.1% year-on-year and rail transit terminals by 14.0% [2]. - The electronic license plate and vehicle-road-cloud business generated 0.23 million RMB, up 14.3% year-on-year, while the smart justice and video cloud business achieved 2.43 million RMB, a 19.2% increase [2]. Market Outlook - The company has been actively involved in smart connected vehicle demonstration zones and pilot projects since 2019, positioning itself favorably for future local tenders related to vehicle-road-cloud integration [4]. - The report forecasts a compound annual growth rate (CAGR) of 80% for the vehicle-road-cloud market from 2025 to 2030, indicating substantial growth opportunities for the company [4]. Profitability Forecast - The company’s net profit forecasts for 2025-2027 are 0.63 million RMB, 1.38 million RMB, and 1.74 million RMB, respectively, with a projected price-to-earnings (PE) ratio of 72x for 2026 [5][11].

高新兴（300098.SZ）8月13日在投资者互动平台表示，公司未有相关规划。公司目前持续聚焦车载终端 及公安信息化的主营业务。 每经AI快讯，有投资者在投资者互动平台提问：贵公司具备强大的科研能力，是否计划进军具身机器 人和脑机接口等新兴产业？完成从无到有的布局？ （文章来源：每日经济新闻） ...

Core Viewpoint - The Henan Provincial Government has issued a set of policies aimed at fostering the development of the artificial intelligence (AI) industry, with a focus on creating a new high ground for AI development in the province [1][6]. Funding and Financial Support - A total of 3 billion yuan (approximately 30 billion) will be allocated to establish an AI industry fund to support various financing needs of AI companies at different stages of their lifecycle [3][8]. - The policies include a mechanism for financial support through investment and loan linkage, aiming to enhance patient capital in the AI sector [3][8]. Innovation and Research Support - The policies encourage the establishment of innovation platforms in AI by enterprises, research institutions, and universities, offering a one-time reward of 5 million yuan for newly created national-level platforms [3][7]. - Continuous funding support of up to 10 million yuan will be provided based on R&D investments and project implementations [3][7]. Model Development and Application - Companies that register generative AI models with the National Internet Information Office will receive a one-time funding support of 1 million yuan [4][6]. - Enterprises that develop and publicly release effective AI industry models can receive up to 1 million yuan in funding [4][6]. Talent Development - The policies emphasize the recruitment and training of high-level AI talent, with financial rewards for companies hiring top-tier professionals [7][8]. - Specific criteria are set for recognizing provincial-level leading and youth talents based on salary and experience [7][8]. Enterprise Support and Growth - National-level specialized "little giant" enterprises in AI can receive subsidies of up to 500,000 yuan, covering 20% of actual investment in equipment and software [4][7]. - The policies promote the development of AI terminal products and encourage local governments to create platforms for product testing and small-scale production [7][8]. Ecosystem and Community Development - The establishment of AI innovation ecological communities is supported, providing integrated services for enterprises, including data sharing and financing [7][8]. - Local governments are encouraged to offer incentives such as rent reductions and computing power subsidies to operational AI innovation communities [7][8]. Collaboration and Networking - The policies promote the organization of high-profile events, forums, and competitions in the AI sector, with financial support from local governments for approved activities [7][8]. Implementation and Evaluation - The policies will be effective for three years, with annual evaluations to assess implementation and make necessary adjustments based on industry development [8].

Core Viewpoint - The article discusses the recent issuance of ten significant measures by the Henan Provincial Government to support the development of the artificial intelligence (AI) industry ecosystem, aiming to establish Henan as a new highland for AI development [2]. Summary by Sections Funding and Financial Support - A total of 3 billion yuan will be allocated to establish an AI industry fund to support various financing needs of AI companies at different stages of their lifecycle [4][10]. - For national-level specialized "little giant" enterprises in the AI sector, a subsidy of up to 500,000 yuan will be provided, covering no more than 20% of actual investment in equipment and software [5][10]. Model Research and Application - The measures emphasize strengthening model research and application, offering a one-time funding of 1 million yuan for companies that register generative AI models with the National Internet Information Office [4][7]. - Companies that develop and publicly release effective AI industry large models can receive up to 100,000 yuan in support [4][7]. Infrastructure and Resource Support - A computational power service will be established, with a total of 50 million yuan in computational vouchers distributed annually, rewarding enterprises using high-capacity computing resources [7][10]. - Support for the construction of high-quality data resources for AI model development will be provided, with each eligible corpus receiving up to 100,000 yuan [7][10]. Talent Development - The measures include incentives for attracting high-level AI talent, with specific funding rewards for core personnel in AI companies [7][10]. Innovation and Ecosystem Development - The establishment of AI innovation ecological communities is encouraged, providing integrated services for enterprises within these communities [7][10]. - The government will support the organization of high-impact industry events related to AI, offering financial rewards for approved activities [7][10]. Implementation and Evaluation - The policy measures will be effective for three years, with annual evaluations to assess implementation and make necessary adjustments based on industry development [10].

Core Points - The Henan Provincial Government has issued policies to support the development of the artificial intelligence (AI) industry ecosystem [1] - The policies emphasize the introduction and cultivation of specialized and innovative enterprises in the AI sector [1] Group 1: Financial Support - National-level specialized "little giant" enterprises in the AI field will receive subsidies of up to 20% of actual investment in equipment and software, with a maximum of 5 million yuan [1] - The support is aimed at promoting the construction of projects within the AI industry [1] Group 2: Product Development and Innovation - The policies encourage the research and promotion of various AI terminal products, including intelligent robots, AI smartphones, AI computers, audiovisual terminals, vehicle-mounted terminals, industrial terminals, and integrated large models [1] - Local governments and parks are encouraged to establish service platforms for product trial production and new product introduction, facilitating agile verification and trial production of AI terminal products [1]