每经AI快讯，有投资者在投资者互动平台提问：你好董秘，公司不是有AI智能体方面的贡献吗，请介 绍一下。 （记者 张明双） 九联科技（688609.SH）12月18日在投资者互动平台表示，我司部分产品已完成DeepSeek大模型的深度 接入与部署，并在水利、安全生产、医疗、智慧城市等多个关键领域积累了丰富的行业落地应用案例。 基于这些行业落地应用案例，公司推出了DeepSeek大模型一体机，可基于客户行业数据集，提供模型 微调/训练评估、推理全生命周期过程支撑，同时提供在智能写作、智能问答、智能BI数据分析、智能 审查、深度思考决策等应用场景的多智能体产品，打造私有化全场景智算解决方案。 ...

针对公司前三季度的经营业绩情况，九联科技董事长、总经理詹启军在业绩说明会上解释称，目前国际 政治经济环境更趋复杂，国内外普遍消费需求不足，经济下行压力明显。公司虽然受诸多不利因素的影 响，但内部经营一直在持续改善。公司2025年第三季度实现单季度营收、利润双增长，单季度业绩扭亏 为盈，结束连续亏损局面；公司前三季度经营现金流同比增长，应收账款催收显成效；三季度公司毛利 率虽整体处于较低值，但稳步提升，盈利能力得到改善。 "目前，公司多项创新产品已实现量产，包括FTTR设备、WiFi7路由器、5G物联网模组、信创云桌面电 脑、星闪技术组网产品，以及基于行业解决方案的DeepSeek大模型一体机及鸿蒙相关产品等，展现了 持续的创新实力。另外，公司以构建全栈国产化能力为目标，通过资源整合、供应链优化、智能制造能 力打造、团队能力提升等行为从硬件、操作系统、软件等各方面积极推动产业生态的国产化。"詹启军 称。 今年4月，九联科技披露了筹划重大资产重组的公告，筹划收购成都能通科技股份有限公司(简称"成都 能通")。有投资者问及公司收购成都能通的进展情况。詹启军回答称，该项交易目前处于核心交易条款 谈判事宜阶段。 九联科 ...

Group 1 - The core point of the news is that 360 Digital Security Technology Group, a subsidiary of 360, won a bid for the Wuhan Artificial Intelligence Innovation Application Demonstration Base project (Phase I) with a bid amount of 132 million yuan, marking another significant order after winning a project in Hohhot earlier in October, bringing the total amount for AI-related projects in October to over 300 million yuan [1] Group 2 - The project aims to establish a comprehensive and multi-dimensional AI innovation application demonstration base, leveraging existing infrastructure in the Yangtze River New Area [1] - The construction includes five major components: AI security cloud construction, AI application factory and AI academy, AI government center, AI public service center, and AI SME service center, as well as computing power support [2] - The AI security cloud construction encompasses a secure hosting cloud platform, DeepSeek large model integration machine, and large model development platform [2] - The AI application factory will create a vertical field large model engineering platform, including AI agent large model application development platform and low-code development platform [2] - The AI academy will deepen industry-university-research cooperation and focus on training "AI + security" interdisciplinary talents [2] - The project also includes the establishment of various centers focusing on governance, public services, enterprise transformation, and industrial upgrading [2] - Computing power support will involve hardware servers, network equipment, and computing power management platforms to provide general computing power services [2]

Group 1 - 360 Group has recently secured multiple significant contracts in the artificial intelligence sector, with a total of over 300 million yuan in AI-related projects in October alone [1][4] - The company won the Wuhan AI Innovation Application Demonstration Base Project (Phase I) with a bid of 132 million yuan, marking another major order following a previous win in Hohhot [1][2] - The projects aim to establish a comprehensive AI innovation application demonstration base, leveraging existing infrastructure in the Yangtze River New Area [2] Group 2 - The construction of the Wuhan project includes five main components: AI security cloud, AI application workshop and academy, AI government and public service centers, computing power support, and auxiliary engineering [3] - The AI application workshop will focus on developing large model platforms and training "AI + security" professionals, while the AI centers will enhance governance, public services, and industry upgrades [3] - 360 Group's financial report for the first half of 2025 shows a revenue of 3.827 billion yuan, a year-on-year increase of 3.67%, with R&D expenses reaching 1.565 billion yuan, accounting for 40.89% of revenue [4]

Group 1 - The Wuhan Artificial Intelligence Innovation Application Demonstration Base project (Phase I) was awarded to 360 Digital Security Technology Group Co., Ltd. for 132 million yuan [1] - The project aims to establish a comprehensive and three-dimensional AI innovation application demonstration base, leveraging existing infrastructure in the Yangtze River New Area [1] - The construction includes five major components: AI security cloud construction, AI application factory, AI academy, and computing power support [1] Group 2 - This project marks another significant order for the company, following a recent win in Hohhot, bringing the total to over 300 million yuan in AI-related projects in October alone [2] - The company also secured approximately 160 million yuan for the Hohhot AI and Digital Security Industry Demonstration Base project as part of a consortium [2] - Additionally, the company won a contract worth about 22.68 million yuan for the Ningbo Digital Security Industry Base project [2]

Core Points - The Wuhan Artificial Intelligence Innovation Application Demonstration Base Project (Phase I) has awarded the bid to 360 Digital Security Technology Group Co., Ltd. with a total bid price of 132 million yuan [2][7] - The project aims to establish a comprehensive AI innovation application demonstration base, leveraging existing infrastructure in the Yangtze River New Area [3] Group 1: Project Details - The project includes the construction of an AI security cloud platform, AI infrastructure, and a large model development platform [4] - It will also establish an AI application workshop and an AI academy to support various industries such as manufacturing, new materials, and biomedicine [4] - The project will create AI governance centers, public service centers, SME service centers, and industry upgrade centers to provide intelligent services and solutions across four dimensions: governance, livelihood, enterprise, and industry [5] Group 2: Competitive Landscape - The first bidder, 360 Digital Security Technology Group Co., Ltd., had a bid of 132 million yuan, while the second and third bidders had bids of approximately 133.59 million yuan and 128.49 million yuan, respectively [7] - The project service period is 18 months from the date of contract signing until acceptance by the bidder [8] Group 3: Company Performance - 360 Digital Security has been increasing its investment in AI, with a reported revenue of 3.83 billion yuan for the first half of 2025, a year-on-year increase of 3.67% [9] - The company reported a net profit of -282 million yuan, a year-on-year increase of 17.43%, with R&D expenses amounting to 1.57 billion yuan, representing 40.89% of its revenue [9]

Core Viewpoint - The report by Kaiyuan Securities on Luopute highlights the company's transformation and growth potential in the computer vision sector, giving it a "Buy" rating for investment [1][2]. Group 1: Company Overview - Luopute has been deeply engaged in computer vision for 20 years and has established a national-level AI technology center, providing solutions in public safety, smart justice, and smart cities [2]. - The company is recognized as a leading supplier of AI technology solutions that empower digital economic development in China [2]. Group 2: Financial Performance - In the first half of 2025, Luopute achieved a revenue of 70 million yuan, representing a year-on-year increase of 81.4% [2]. - The net profit improved to a loss of 50 million yuan, reducing the loss by 2.0361 million yuan compared to the previous year [2]. - The net cash flow from operating activities turned positive at 7.3425 million yuan [2]. Group 3: Future Growth Prospects - The company is expected to return to a high growth trajectory with the recovery of its traditional business and the expansion of new businesses in integrated models and robotics [2]. - Forecasted net profits for 2025, 2026, and 2027 are -85 million yuan, 60 million yuan, and 110 million yuan, respectively, with corresponding PE ratios of 58.1 and 31.6 for 2026 and 2027 [2]. Group 4: Strategic Initiatives - The company is advancing into the private deployment of large model integrated machines, with the DeepSeek model being a key product that offers "soft and hard collaboration" and is suitable for various industries [3]. - Luopute has partnered with leading robotics companies to develop specialized robots for smart security and industrial applications, aiming to become a benchmark enterprise in Fujian's robotics industry [4].

Group 1 - The China Artificial Intelligence Industry Development Alliance is launching the development of performance standards for AI integrated machines to standardize performance indicators and technical capabilities [1] - The AI integrated machine includes high-performance computing hardware, pre-trained large AI models, and supporting software systems, designed for "plug-and-play" use, reducing the barriers to AI application [1] - The market for AI integrated machines is rapidly expanding, with over 100 manufacturers in China launching AI integrated machines, indicating a competitive landscape [1] Group 2 - Tianrongxin is advancing its intelligent computing cloud business by releasing a series of products including intelligent computing cloud platforms, integrated machines, and computing power servers, integrating multiple capabilities such as computing, storage, networking, security, and intelligence [2]

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 23.30 CNY for the next six months, indicating a potential upside from the current price of 21.34 CNY [5]. Core Insights - The report highlights the strategic partnership between China Electronics Cloud and Muxi Integrated Circuit (Shanghai) Co., Ltd., aimed at enhancing AI capabilities and supporting the development of China's AI industry ecosystem [1][3]. - Despite an increase in net profit loss compared to the previous year, the digital and information services segment, represented by China Electronics Cloud, has shown growth in new contract signings, particularly for self-developed products, leading to a reduction in operational losses [1][2]. - The company is positioned as a key player in the digital infrastructure and data resource system, focusing on critical industries such as defense, energy, finance, and public services [2]. Financial Performance Summary - The projected revenues for the company from 2025 to 2027 are 691.80 billion CNY, 724.27 billion CNY, and 760.05 billion CNY, respectively, with net profits expected to be 4.42 billion CNY, 5.73 billion CNY, and 6.98 billion CNY [10]. - The company’s revenue growth rates are forecasted at 10.2% for 2023, 19.7% for 2024, and a more modest 2.7% for 2025, indicating a potential slowdown in growth [13]. - The net profit margin is projected to improve from 0.6% in 2023 to 0.9% by 2027, reflecting an upward trend in profitability [13]. Market Position - China Electronics Cloud ranks among the top five providers in the intelligent computing service market and is recognized as a leader in the government cloud market in China [2]. - The company is actively promoting AI technology applications across various sectors, including government, public security, healthcare, and transportation, with specific models developed for these industries [4][9].

Group 1: Investor Relations Activity Overview - The investor relations activity was an earnings briefing held on May 16, 2025, via the "Investor Relations Interactive Platform" [3] - Key attendees included the Chairman, General Manager, CFO, and Board Secretary of the company [3][4] Group 2: Industry Performance and Company Growth - In 2025, China's intelligent computing power is expected to reach 1,037.3 EFLOPS, a 43% year-on-year increase [4][31] - The compound annual growth rate (CAGR) for China's intelligent computing power from 2023 to 2028 is projected at 46.2% [4][31] - The company achieved a revenue of 654.62 million yuan in 2024, with a 48.27% increase in computing power service revenue [5][10] Group 3: Financial Performance - The net profit attributable to shareholders in 2024 was 12.06 million yuan, marking a turnaround from losses [5][10] - In Q1 2025, the company reported a revenue of 198.27 million yuan, a 51.68% increase year-on-year [8][10] - The gross margin for computing power services was 32% in 2024, decreasing to 27% in Q1 2025 due to changes in service mix [11] Group 4: Accounts Receivable and Debt - As of the end of 2024, accounts receivable over three years amounted to 7.42 million yuan, representing about 7% of total accounts receivable [7] - The company's debt ratio stood at 76.53%, primarily due to contract liabilities and bank loans [12] Group 5: Customer Base and Market Position - The top five customers contributed 26.48% of total revenue in 2024, indicating a reasonable level of customer concentration [16] - The company has a sufficient order backlog and is actively pursuing large clients in the computing power service sector [13][14] Group 6: Research and Development - As of the end of 2024, the company employed 83 R&D personnel, accounting for 19.58% of total employees [24] - The company has no PhD holders among its R&D staff, with 12.05% holding master's degrees [24] Group 7: Future Outlook - The company anticipates continued growth driven by expanding business scale and improving operational efficiency [28] - The intelligent computing service market is expected to mature, with increasing demand for high-performance computing infrastructure [27][28]