Financial Performance - In Q3 2025, the company achieved operating revenue of 530 million yuan and a net profit of 64.89 million yuan. Excluding share-based payment expenses of 21.81 million yuan, the net profit for the first three quarters was approximately 86.70 million yuan [1] Vietnam Manufacturing Base - The company's manufacturing capacity in Vietnam is gradually increasing, leading to a month-on-month improvement in profitability. In September 2025, the net profit, excluding share-based payment impacts, reached 13.76 million yuan, showing stability compared to 13.32 million yuan in the same period of 2024 [2] - The Vietnam factory, the company's first overseas smart manufacturing base, was established in 2024, leveraging local labor cost advantages and the "Belt and Road" policy benefits. This base effectively reduces production costs and mitigates trade friction risks while enhancing supply chain resilience [2] - The Vietnam base has achieved scale production within six months and received international customer quality recognition through automation and localized training [2] AI+ Strategy and Product Development - The "AI+" strategy has gained significant momentum since its introduction in the government work report in March 2024, with ongoing policy support for deep integration of AI with technology innovation and industrial development [3][4] - The company is leveraging AI, high-precision sensors, measurement technology, and IoT to provide customized "AI+ sensor" integrated devices and comprehensive industrial measurement solutions for sectors like smart manufacturing and energy conservation [4] - The company has developed various intelligent products, including the AI-7760 three-phase power quality analyzer, which can intelligently analyze grid data and diagnose potential faults, and AI industrial glasses that offer multiple interactive features [4] DeepSense Model - The company has developed the "DeepSense" model, a versatile vertical model that has been registered for generative AI services, aimed at providing intelligent and efficient technical support for the instrument and measurement industry [5] - The company plans to continue deepening the integration of precision measurement and AI technology, advancing the "AI+" strategy, and establishing itself as a benchmark enterprise in smart instruments and meters [5]

Core Insights - The user base of generative artificial intelligence in China reached 515 million by June 2025, doubling in size within six months, with a penetration rate of 36.5% [1][2] - Over 90% of users prefer domestic generative AI models, indicating a strong preference for local technology [3] - The report highlights the rapid integration of generative AI across various sectors, enhancing efficiency and quality [3][4] User Demographics - The core user demographic consists of young individuals under 40, making up 74.6% of users, with 37.5% holding a college degree or higher [2] - The significant growth in user numbers is attributed to increased awareness and application of generative AI during key events like the Spring Festival [2] Industry Development - China has established a comprehensive AI industry system covering all layers from foundational to application, including chips, computing power, data, and platforms [4] - The country leads globally in AI patent applications, with 1.576 million applications accounting for 38.58% of the global total as of April 2025 [4] Application Expansion - As of August 2025, there are 538 registered generative AI services and 263 applications or features documented, showcasing the expanding application scenarios [3] - Generative AI is being utilized in various fields such as intelligent search, content creation, office assistance, and smart hardware, with ongoing exploration in agriculture, manufacturing, and scientific research [3] Government Initiatives - The State Council's recent policy emphasizes the application-oriented development of AI, aiming for deep integration with six key sectors by 2027 [5] - The policy outlines goals for AI to significantly enhance public governance and to achieve over 90% penetration of new intelligent terminals and agents by 2030 [5] Company Innovations - Companies like招商证券 are actively developing AI applications, such as the "招商证券天启大模型" for wealth management and research [6] - In the entertainment sector, 三七互娱 is integrating AI into gaming, enhancing user experience through AI-driven content creation and player engagement [6] - 华盛昌 has achieved milestones in the "AI + measurement" sector with its "DeepSense" model, providing advanced solutions for industrial clients [7]

Core Insights - The user base of generative artificial intelligence (AI) in China reached 515 million by June 2025, doubling in size within six months, with a penetration rate of 36.5% [1][3] - Over 90% of users prefer domestic generative AI models, indicating strong support for local technology [4] User Growth and Demographics - The user base of generative AI saw a significant increase of 266 million users in the first half of 2025, marking a growth rate of 106.6% [3] - The core user demographic consists of young individuals under 40, who make up 74.6% of users, and those with higher education (college degree or above) account for 37.5% [3] Application and Industry Development - Generative AI is being widely adopted across various sectors, with applications in intelligent search, content creation, office assistance, and smart hardware, as well as in agriculture, manufacturing, and scientific research [4] - As of August 2025, there were 538 registered generative AI services and 263 applications or features documented in China [4] Industry Structure and Innovation - China has established a comprehensive AI industry system covering foundational layers, frameworks, models, and applications, with a supply chain that includes chips, computing power, data, platforms, and applications [5] - The country leads globally in AI patent applications, with 1.576 million applications accounting for 38.58% of the global total as of April 2025 [5] Government Initiatives and Future Goals - The State Council's recent policy emphasizes the application-oriented development of AI, aiming for deep integration with six key sectors by 2027 and a significant increase in the adoption of new intelligent terminals and agents [7] - By 2030, the goal is for AI to fully empower high-quality development, with a target adoption rate of over 90% for new intelligent applications [7] Sector-Specific Applications - In the securities sector, companies like招商证券 are integrating AI into wealth management and research services, enhancing customer interaction and operational efficiency [8] - In the entertainment industry, 三七互娱 is leveraging AI for game development, including 2D graphics, customer service, and localized content [8] - In the industrial sector, 华盛昌 has developed a deep sensing model for measurement applications, enhancing operational efficiency and digital management in manufacturing [9]

Core Viewpoint - The rise of AI smart glasses has attracted attention from both tech giants and traditional eyewear companies, with Huashengchang also entering this emerging market by developing its own AI products and models [1][6][9]. Company Developments - Huashengchang announced the development of its "DeepSense" model, which has passed generative AI service registration and will soon be available for internal testing [1]. - The company launched four AI medical devices at the 2025 China International Medical Equipment Expo, showcasing its commitment to integrating AI into healthcare solutions [6]. - Huashengchang has established a subsidiary focused on AI glasses, particularly for industrial applications, aiming to enhance measurement and detection efficiency [9]. Market Trends - The AI glasses market is rapidly growing, with a reported 145.5% year-on-year increase in shipments in Q2 2025, reaching 664,000 units in China [10]. - The Chinese AI glasses market is projected to have a compound annual growth rate of 56% over the next five years, supported by a robust supply chain for smart eyewear components [10][11]. - The overall market for smart glasses is expected to reach 4.153 million units sold by 2029, with a potential market size exceeding 100 billion yuan [12].

Core Viewpoint - The rapid development of AI smart glasses has attracted attention from both tech giants and traditional eyewear companies, with Huashengchang also entering this emerging market by leveraging its AI capabilities and existing expertise in measurement and medical devices [1][4]. Group 1: Company Developments - Huashengchang has announced the development of its "DeepSense" AI model, which has passed the generative AI service filing and will soon be available for internal testing [1]. - The company showcased four AI medical devices at the 2025 China International Medical Device Expo, including a smart blood pressure monitor with an AI voice assistant, demonstrating its commitment to integrating AI into healthcare solutions [2]. - Huashengchang has a strategic focus on combining AI with measurement and sensor technologies, aiming to provide customized industrial measurement solutions [3]. Group 2: Market Trends - The AI glasses market in China is experiencing significant growth, with a reported shipment of 664,000 units in Q2 2025, marking a year-on-year increase of 145.5% [5]. - The market is projected to have a compound annual growth rate of 56% over the next five years, indicating a robust growth trajectory for AI glasses [5]. - The overall market for smart glasses is expected to reach 415.3 million units by 2029, with a potential market size exceeding 100 billion yuan [6]. Group 3: Competitive Landscape - Huashengchang's AI glasses are positioned to serve specific industrial applications rather than being mere consumer products, aiming to enhance operational efficiency and provide real-time data support for technicians [4]. - The company faces competition in a rapidly evolving market, where the integration of AI technology is crucial for maintaining a competitive edge [6].

这些大模型基于海量多样化公开数据训练，适用于广泛场景。如腾讯混元助手大模型面向C端用户，支 持中英文输入，提供智能问答、AI绘画、语言翻译、简历生成、数据分析等功能；深圳元象信息科技 有限公司开发的元象XVERSE大模型支持文本生成、自动化写作、数据分析、知识问答、多语言翻译、 人物角色扮演、专业小助手等功能。 【深圳商报讯】（首席记者 王海荣）9月15日，记者从粤港澳大湾区生成式人工智能安全发展联合实验 室揭牌仪式上获悉，截至2025年8月，广东省已备案大模型共92款，包括通用大模型46款，行业大模型 46款。 在备案的通用大模型中，深圳共有22款，约占该类大模型总数的48%，包括腾讯混元助手大模型、鹏城 脑海、TCL大模型助手、元象XVERSE大模型、魔法大模型、商汤AI代码生成模型等。 这些行业大模型在通用模型基础上使用行业专业数据优化，针对特定领域提供更高精准度的解决方案， 在工业、政务、教育、汽车、电商、交通、游戏、农业、饮食健康、网络安全、生态环境、电力、法 律、房地产、物流等深耕领域里拥有超强本领。 如深圳市华盛昌（002980）科技实业股份有限公司开发的"DeepSense深度感测大模型"主要 ...

Core Viewpoint - The approval of "DeepSense Deep Sensing Model" by Huashengchang signifies a significant achievement in the "AI + Measurement Intelligent Body" sector, enabling the company to provide advanced measurement solutions and enhance operational efficiency in industrial applications [3][4]. Group 1: Model Development and Features - Huashengchang has developed the "DeepSense Deep Sensing Model" by integrating deep learning techniques with sensor data, aimed at providing real-time technical support in instrument operation, maintenance, and calibration [3]. - The model serves a wide range of applications in the instrument and measurement industry, offering intelligent and efficient technical support and integrated solutions for downstream enterprises and professionals [3]. Group 2: Impact of Model Approval - The approval of the model allows Huashengchang to transition from a hardware supplier to a provider of intelligent industrial monitoring solutions, enhancing its competitiveness and expanding its application scenarios [4]. - The company aims to continuously strengthen product and technology development, integrating vertical domain model technology into smart instruments and medical devices, and launching valuable new products to the market [4].

Core Viewpoint - The company Huashengchang announced that its "DeepSense Deep Sensing Model" has officially passed the filing for generative artificial intelligence services [2] Group 1 - The announcement was made on the evening of September 2 [2] - The filing indicates a significant step for the company in the field of generative AI [2]

Core Viewpoint - The company has developed the "DeepSense Deep Sensing Model," which has passed the generative AI service filing and will soon be available for internal testing, aiming to provide intelligent and efficient technical support in the instrument and measurement industry [1][2]. Group 1: Company Developments - The "DeepSense Deep Sensing Model" is a versatile vertical model designed for applications in instruments, professional measurement, and testing, offering integrated solutions for downstream enterprises and professionals [1][2]. - The model provides real-time technical support in operations, maintenance, and calibration of instruments, optimizing measurement processes and enhancing data analysis capabilities [2]. - The company is transitioning from a hardware supplier to a provider of intelligent industrial monitoring solutions, aiming to deliver value across a broader range of customers and applications [2]. Group 2: Industry Insights - The domestic instrument and meter industry is characterized by a large market with many small companies, with a total output value reaching 10,112 billion in 2023 [3]. - There is an annual total trade deficit of approximately 20 billion in the instrument and meter industry, indicating a structural reliance on high-end imports, with domestic production rates for high-end products below 50% [3]. - The company is actively embracing AI technology to penetrate the high-end instrument market, launching AI products that fill gaps in domestic high-end instruments [3]. Group 3: Strategic Initiatives - The company has established long-term partnerships with international brands and is leveraging its overseas expansion experience to empower the domestic market through AI technology [4]. - The "AI+" strategy is expected to position the company advantageously in emerging fields such as industrial intelligent measurement, environmental intelligent detection, new energy testing, and medical diagnostics [4]. - The recent filing approval signifies a milestone in the "AI+ measurement intelligence" domain, enhancing the company's competitive edge and reducing operational costs [4].

Group 1: Company Actions - Ningde Times has spent 2.131 billion yuan to repurchase 8.69 million A-shares, accounting for 0.1973% of the total A-shares as of August 31, 2025, with a maximum price of 290 yuan/share and a minimum price of 231.5 yuan/share [1] - Dongxin Co. has completed its verification work and will resume trading on September 3, 2025, after being suspended due to abnormal stock price fluctuations [2] - Daoshi Technology's subsidiary plans to invest 30 million USD in Brain Family Inc. for Pre-B round preferred shares, aiming to enhance its capabilities in AI and new materials [5] Group 2: Financial and Market Developments - *ST Tianmao plans to terminate its stock listing and will provide cash options to eligible shareholders, with a cash option price set at 1.60 yuan/share [4] - Xiamen Tungsten's credit rating has been upgraded to AAA from AA+, which is expected to lower financing costs and enhance sustainable development [8] - Gree Electric's major shareholder has increased its stake by acquiring 46.38 million shares, representing 0.8281% of the total share capital, with an investment of approximately 2.099 billion yuan [12] Group 3: Market Opportunities - Eastern Tower has been selected as a candidate for a procurement project by the State Grid, with a total bid amount of approximately 137 million yuan, representing 3.27% of its audited revenue for 2024 [6] - Juhua Technology is a candidate for a procurement project with a bid amount of approximately 166 million yuan [7] - The company plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance competitiveness and international presence [9]