其中，在智能视觉终端方向上，重点研发视频监控产品、多维感知智能融合终端及网络直播和新媒体智 能应用等品类；在智能计算终端方面，聚焦开发搭载国产人工智能芯片的边缘计算服务器、AI服务器 等产品。《征求意见稿》还提到，将加快开发以大模型为基础架构的智能通用人形机器人，充分推进人 工智能技术与终端产品深度融合。 同时，《征求意见稿》提出，针对智能家居终端领域，开发全面融合人工智能能力的智能音响、智能门 锁、智能门铃、扫地机器人等家居家电产品，推动无感交互需求升级。在智能无人飞行器终端应用方 面，重点开展载重无人机、特种无人机和消费级无人机的研发制造，以满足不同行业领域的需求。 日前，杭州市经济和信息化局就《杭州市加快发展人工智能终端产业三年行动方案（2025—2027年） （征求意见稿）》（以下简称《征求意见稿》）公开向社会征求意见。《征求意见稿》系统规划了智能 视觉终端、智能计算终端、智能机器人、智能可穿戴设备等10类人工智能终端发展赛道，并提出了重点 任务和具体的保障措施，为杭州市人工智能终端产业的发展提供了明确指引。 政策引领 描绘产业发展蓝图 《征求意见稿》提出，到2027年，全市人工智能终端产业规模力争达 ...

Market Performance - On September 9, the Shanghai Composite Index fell by 0.51%, the Shenzhen Component Index dropped by 1.23%, and the ChiNext Index decreased by 2.23%[3] - The total trading volume in the Shanghai and Shenzhen markets exceeded 2.1 trillion yuan, a decrease of over 300 billion yuan compared to the previous trading day[1] Sector Analysis - The number of declining sectors outnumbered those that rose, with real estate, non-ferrous metals, commerce, and food and beverage sectors showing gains, while electronics and computer sectors experienced declines[1] - The precious metals sector saw an upward trend due to rising gold prices, with domestic gold jewelry prices surpassing 1,070 yuan per gram[5] Fund Flow - On September 9, net outflows from the Shanghai Stock Exchange amounted to 2.117 billion yuan, while the Shenzhen Stock Exchange saw net outflows of 8.788 billion yuan[4] - The top three sectors for capital inflow were batteries, precious metals, and automotive parts, while the sectors with the highest outflows were semiconductors, consumer electronics, and photovoltaic equipment[4] Investment Trends - Institutional investors conducted over 47,000 company surveys in the past month, focusing on industry conditions and company performance[14] - Active equity fund stock positions have surpassed 90%, reaching the highest level since March 2021[14] Industry Developments - The Ministry of Industry and Information Technology plans to promote high-quality development in the AI industry and will introduce an implementation plan for AI + manufacturing[6] - China's manufacturing robot density has reached 470 units per 10,000 people, significantly exceeding the global average[12]

Group 1 - The core point of the news is that Zhongke Hanwuji Technology Co., Ltd. has received approval from the China Securities Regulatory Commission to issue stocks to specific investors, which is valid for 12 months from the date of approval [1] - The Ministry of Industry and Information Technology plans to promote high-quality development in the artificial intelligence industry and will implement a special action plan for AI + manufacturing [1] - Local policies in Hangzhou are focusing on developing high-performance AI integrated machines and edge computing servers based on domestic AI chips [1] Group 2 - The AI ETF on the STAR Market has seen a strong increase of 2.27%, with significant gains in constituent stocks such as Lingyun Optics and others [2] - The State Council has outlined three major goals and six key areas for AI development, aiming for over 70% application penetration in key industries by 2027 [2] - The AI industry is viewed as a significant driver of the new technological revolution and industrial transformation, benefiting from ongoing technological advancements and policy support [2] Group 3 - The AI ETF on the STAR Market has experienced a notable growth of 9.90 billion yuan in scale over the past three months [3] - The fund has seen an increase of 9.30 billion shares in the past month, ranking first among comparable funds [3] - The AI ETF has attracted a net inflow of 54.297 million yuan recently, with a total of 280 million yuan in the last ten trading days [3]

Core Viewpoint - The report serves as an independent financial advisory opinion on the 2025 restricted stock incentive plan of Zhongfutong Group Co., Ltd, ensuring compliance with relevant laws and regulations while assessing the plan's feasibility and potential impact on the company's sustainable development and shareholder interests [1][19]. Summary by Sections Independent Financial Advisor's Role - The independent financial advisor, Shanghai Xinguang Yihe Enterprise Management Consulting Co., Ltd, was commissioned to provide an opinion on the incentive plan based on information provided by Zhongfutong, ensuring the accuracy and completeness of the data [1][2]. Basic Assumptions - The report is based on assumptions that current laws and regulations will not change significantly, and that all provided information is accurate and complete [5]. Main Content of the Incentive Plan - The incentive plan involves granting 2 million restricted stocks, representing 0.87% of the company's total share capital of 2,297.43622 million shares. The initial grant will be 1.7 million shares (0.74% of total shares), with 300,000 shares reserved [4][6][20]. Timeframe and Conditions - The plan's effective period is up to 48 months from the grant date, with specific conditions for stock vesting and a prohibition on stock transfer during certain periods [6][9]. Grant Price - The initial grant price for the restricted stocks is set at 7.64 RMB per share, which is above the par value and in line with regulatory requirements [10][11]. Performance Assessment - The performance targets for the incentive plan include net profit benchmarks for the subsidiary Shenzhen Yingboda, with specific targets set for 2025 and 2026 [14][16]. Financial Impact - The implementation of the incentive plan is expected to positively influence the company's sustainable operations and shareholder equity by motivating key personnel and aligning their interests with those of the shareholders [21][22]. Compliance and Feasibility - The plan complies with relevant regulations and has a clear operational framework for approval, granting, and vesting processes, ensuring its feasibility [19][20]. Performance Evaluation System - The performance evaluation system is designed to assess both company-wide and individual performance, ensuring a comprehensive approach to measuring effectiveness [24].