据证券之星公开数据整理，近期山石网科(688030)发布2025年中报。截至本报告期末，公司营业总收入 4.17亿元，同比上升9.46%，归母净利润-7655.72万元，同比上升4.31%。按单季度数据看，第二季度营 业总收入2.59亿元，同比上升12.67%，第二季度归母净利润-214.8万元，同比上升53.34%。本报告期山 石网科公司应收账款体量较大，当期应收账款占最新年报营业总收入比达103.38%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率69.26%，同比减5.0%，净利率-18.72%，同比增 11.52%，销售费用、管理费用、财务费用总计1.94亿元，三费占营收比46.58%，同比减21.57%，每股净 资产4.6元，同比减13.96%，每股经营性现金流-0.7元，同比减79.89%，每股收益-0.42元，同比增6.0% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 3.81亿 | 4.17 Z | 9.46% | | 归母净利润(元) | -8000.87万 | -7655.72万 | ...

交易性金融资产变动幅度为-100.0%,原因:保本理财产品到期赎回。 据证券之星公开数据整理，近期山石网科（688030）发布2025年中报。截至本报告期末，公司营业总收 入4.17亿元，同比上升9.46%，归母净利润-7655.72万元，同比上升4.31%。按单季度数据看，第二季度 营业总收入2.59亿元，同比上升12.67%，第二季度归母净利润-214.8万元，同比上升53.34%。本报告期 山石网科公司应收账款体量较大，当期应收账款占最新年报营业总收入比达103.38%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率69.26%，同比减5.0%，净利率-18.72%，同比增 11.52%，销售费用、管理费用、财务费用总计1.94亿元，三费占营收比46.58%，同比减21.57%，每股净 资产4.6元，同比减13.96%，每股经营性现金流-0.7元，同比减79.89%，每股收益-0.42元，同比增6.0% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 3.81 (Z | 4.17亿 | 9.46% | ...

通用计算机设备 天融信（002212.SZ） 增持-A(维持) 二季度收入实现正增长，一体机成为新增长点 2025 年 8 月 25 日 公司研究/公司快报 公司近一年市场表现 事件描述 | 市场数据：2025 年 8 | 25 | | | 日 | 月 | | --- | --- | --- | --- | --- | --- | | 收盘价（元）： | | | 10.23 | | | | 年内最高/最低（元）： | | 11.17/3.99 | | | | | 流通 股/总股本（亿 A | | 11.67/11.79 | | | | | 股）： | | | | | | | 流通 A 股市值（亿）： | | | 119.37 | | | | 总市值（亿）： | | | 120.66 | | | | 年 基础数据：2025 | 月 6 | 日 30 | | | --- | --- | --- | --- | | 基本每股收益(元)： | | | -0.06 | | 摊薄每股收益(元)： | | | -0.06 | | 每股净资产(元)： | | | 7.91 | | 净资产收益率(%)： | | | -0.70 ...

内容概况：在当今数字化浪潮下，信息已成为国家发展的关键要素，如同空气和水一般，渗透到政治、 经济、军事、文化等各个领域，成为了国家战略资源的核心组成部分。随着信息技术的快速发展，网络 安全威胁日益严峻，信息安全设备作为关键防护手段应运而生，涵盖了防火墙、加密设备、入侵检测系 统、数据备份与恢复设备等多种类型，通过对网络流量的过滤、数据的加密存储与传输、异常行为的实 时监测以及数据的备份保护等功能，全方位地保障信息系统的安全性、稳定性和可靠性，为国家战略安 全筑牢根基。当前，数字化转型加速推动信息安全设备需求持续增长，行业呈现蓬勃发展态势。同时， 信息安全设备企业通过技术创新不断升级产品，云安全、数据安全、人工智能等前沿技术的融合为行业 注入新动力。数据显示，2024年中国信息安全设备行业市场规模约744.34亿元，其中，硬件市场规模为 391.18亿元；软件市场规模为353.16亿元。未来，中国信息安全设备行业将在技术创新驱动和市场需求 的共同作用下，迎来更高质量的发展阶段。 相关上市企业：深信服（300454）、奇安信（688561）、山石网科（688030）、天融信（002212）、迪 普科技（30076 ...

Financial Performance - In the first half of 2025, the company reported a revenue of 826 million CNY, a year-on-year decrease of 5.38% [3] - The gross profit margin increased by 4.1 percentage points, reaching 67.41% [5] - Total expenses decreased by 14.04% year-on-year [9] - The net profit attributable to shareholders was a loss of 64.69 million CNY, significantly reducing the loss by 68.56% compared to the previous year [3] Quarterly Highlights - In Q2 2025, revenue was 491 million CNY, an increase of 8.72% year-on-year [4] - The net profit for Q2 2025 was 3.70 million CNY, recovering from a loss of 116 million CNY in Q2 2024, marking a 103.17% improvement [4] Revenue Quality and Structure - The proportion of low-margin projects decreased by 12.5 percentage points in the first half of 2025 [5] - Revenue from intelligent computing cloud products reached 102 million CNY, accounting for 12.40% of total revenue, with a year-on-year increase of 3.00% [6] - Revenue from state-owned enterprises increased by 30.62% year-on-year, while revenue from government and public institutions decreased by 30.35% [9] Cost Control and Efficiency - Total expenses for the first half of 2025 were 784 million CNY, down 14.04% year-on-year [9] - R&D expenses decreased by 15.47%, management expenses by 15.42%, and sales expenses by 12.65% [9] - The total number of employees decreased by 0.87% to 5,250, with a slight increase in marketing personnel by 1.41% [10] Industry Analysis and Business Development - The cybersecurity market in China is projected to reach 17.1 billion USD by 2028, with a compound annual growth rate (CAGR) of 9.2% [10] - The demand for intelligent computing is expected to grow significantly, with the AI model market projected to exceed 36 billion CNY in 2024 [11] - The company is focusing on AI integration to enhance product competitiveness and operational efficiency [12] Future Outlook - The company anticipates continued growth in revenue from state-owned enterprises and cloud security services [25] - The gross profit margin is expected to exceed last year's levels due to a focus on core business and reduced low-margin projects [25]

Core Viewpoint - As of August 18, 2025, the stock price of Hillstone Networks is 20.49 CNY, reflecting a 1.69% increase from the previous trading day [1] Group 1: Company Overview - Hillstone Networks operates in the software development industry, focusing on the research, production, and sales of network security products [1] - The company's main products include firewalls, VPNs, and intrusion detection systems [1] Group 2: Stock Performance - On August 18, the trading volume was 39,572 hands, with a transaction amount of 0.81 billion CNY [1] - A significant block trade occurred on the same day, involving 120,000 shares at a transaction amount of 2.09 million CNY, with a transaction price of 17.42 CNY, representing a 14.98% discount to the closing price [1] Group 3: Shareholder Activity - On August 18, the company announced that shareholder Guochuang Kaiyuan has completed its reduction plan, cumulatively reducing 1.05 million shares, which accounts for 0.58% of the company's total share capital [1] Group 4: Capital Flow - On August 18, the net inflow of main funds into Hillstone Networks was 1.4252 million CNY, while the net outflow over the past five days was 11.6976 million CNY [1]

Core Insights - The article explores the cultural significance of fire prevention methods embedded in the architecture of the Forbidden City, highlighting various traditional beliefs and practices aimed at disaster prevention [3][14][20]. Group 1: Architectural Features - The intricate design of the "dragon and phoenix" coffered ceiling in the Hall of Supreme Harmony serves not only as a symbol of imperial power but also as a traditional fire prevention tool, believed to have protective qualities against fire [5][10]. - The unique writing style of the character "门" (door) on the gate plaques, which lacks a hook, reflects ancient fire prevention superstitions, dating back to the Southern Song Dynasty [6][8]. - The "Chiwun" (a mythical creature) placed at the roof corners of the Forbidden City is believed to ward off fire, with historical references to its protective role against fire disasters [9][12]. Group 2: Water Sources and Firewalls - The inner Golden Water River, designed to meander through the Forbidden City, serves as a practical water source for firefighting, allowing for quick access to water during emergencies [14][16]. - The construction of solid "firewalls" and "wind-fire eaves walls" in the Forbidden City reflects a strategic approach to fire prevention, particularly after significant fire incidents [16][18]. Group 3: Firefighting Equipment - The use of large bronze water tanks, known as "海," strategically placed throughout the Forbidden City, serves as a primary firefighting resource, with historical records indicating the presence of over 300 tanks during the Qing Dynasty [21][23]. - The "water dragon" and "pumping barrels" represent advanced firefighting technology of the time, with the water dragon being particularly effective in extinguishing fires from a distance [23][24].

一、行业客户面临的信息安全合规挑战 在我跟不同行业的企业合作时，企业信息安全等级测评从来都不是个"技术"问题这么简单。尤其是银行、医院、互联网金融和大型制造企业，大家最头疼的 其实还是合规压力——等级保护2.0实施以后，这已不是可选项，更多时候是"必须过关"的一道坎。2023年《网络安全法》、数据安全法反复强调等保的重 要性，银保监会、卫健委等监管部门往往直接把等保作为系统投入运营的前置门槛。 比如我曾经服务过的一家头部民营医院，他们首次上线互联网诊疗平台时，内部的信息科主任一边要平衡业务上线压力，一边每天被问"我们什么时候能拿 到等保三级测评报告？"他们一开始还觉得主要靠买个入门级防火墙就能应付，但测评过程中才发现不是买设备那么简单，而是设备、制度、流程一整个体 系都得过硬。这种顾虑，我觉得在医疗、金融、轨交乃至政务云场景都普遍存在。 二、采购"等保设备"的常见误区 很多企业在准备做等保的时候，下意识就会把重心放在设备采购——尤其是市面上宣传很火的"等保设备厂家排名"这个词，简直被HR和运维经理们"按头 查"了不下二十遍。我理解他们的焦虑，但实际来看，有些误区没法忽视。 合规并不等同于买设备。就算你采购了排 ...

等保2.0产品清单是网络安全等级保护备案过程中的关键要素，帮助企业合规并推动项目进展。各行业的IT经理面临选择合适产品组合的挑战，常见误区包 括仅从外部经验购买设备而忽视实际业务需求及安全要求。有效的清单梳理需以企业核心业务和IT架构为依据，确保有相应的防护措施和合规证据。大企业 通过分工协作、持续优化清单提升合规能力，而小型企业则需避免临时应付的策略，建立稳定的安全管理体系。随着等保标准的不断完善，企业需重视安全 能力建设，实现清单透明化、流程标准化和责任明确化，以顺利通过等保备案，保障业务安全发展。 创云科技（广东创云科技有限公司）成立于2015年，总部位于广州（地址是广州市越秀区东风东路808号华宫大厦15楼），在北京，上海，深圳，香港均设 有办事处，是一站式等保行业领导者，国内领先的一站式等保测评与云安全综合服务商。业务覆盖全国34个省级行政区，服务城市90+，服务客户1500+。 提供定级备案、差距测评、整改、安全检查等全流程专业服务。我们拥有ISO9001/27001/20000认证及CCRC等资质。服务团队由资深安全测评师、渗透工 程师，应用整改指导架构师、安全产品架构师，项目经理等组成，深耕文 ...

Group 1 - The stock price of Tianrongxin closed at 8.22 yuan on August 7, 2025, down by 0.12 yuan, a decrease of 1.44% from the previous trading day [1] - The trading volume on that day was 310,225 hands, with a transaction amount of 255 million yuan [1] - Tianrongxin specializes in the field of cybersecurity, focusing on the research, sales, and services of cybersecurity products, including firewalls, situational awareness, and endpoint security [1] Group 2 - The company recently disclosed a collaboration with Huawei to launch the Tianrongxin Intelligent Computing Integrated Machine (Ascend version), which is powered by Huawei's Ascend AI chip [1] - The Tianrongxin Kunlun Xinchang product series, based on Huawei's Kunpeng architecture, includes 15 categories and 27 products such as firewalls, situational awareness, and hyper-convergence, all equipped with Huawei's Kunpeng processor chip [1] Group 3 - On August 7, the net outflow of main funds was 31.84 million yuan, accounting for 0.33% of the circulating market value [1] - Over the past five days, the cumulative net outflow of main funds reached 7.48 million yuan, representing 0.08% of the circulating market value [1]