彩讯股份表示，本次公司与专业机构等共同投资，旨在充分借助专业投资机构的专业资源与投资管理优 势，在合理控制风险的前提下开展投资业务，有助于公司发现市场新机遇，拓展综合盈利渠道，进一步 提高闲置自有资金使用效率，从而提升公司的综合竞争能力和盈利能力。 彩讯股份指出，公司本次投资的资金来源于公司自有资金，不会对公司财务及经营状况产生不利影响， 不存在损害上市公司股东利益的情形。另外，本次参股投资基金具有投资周期长、流动性较低的特点， 可能面临较长的投资回报期。投资基金运行过程中将受宏观经济、行业周期、投资标的公司经营管理、 交易方案整合等多种因素影响，存在不能实现预期效益的风险。公司将密切关注投资基金经营管理状况 及投资项目的实施过程，以降低投资风险。 据了解，彩讯股份是一家企业数字化技术和服务提供商，自成立以来一直专注于企业数字化转型赛道， 基于自主研发的AI技术底座与行业领先的双中台战略，形成了协同办公、智慧渠道、智算服务与数据 智能三大产品线。公司自主研发Rich Mail智能信创邮箱、AI办公助手、Rich AIBox一站式AI应用开发平 台、企业级AI知识库、云盘AI助手、数字人智能体一站式配置和应用平 ...

彩讯股份（300634）12月16日公告，公司拟与刘群等个人及机构共同认购共青城恒融一期创业投资合伙 企业（有限合伙）基金份额，公司作为有限合伙人之一，使用自有资金认缴出资500万元，认缴出资比 例为10.73%。合伙企业各合伙人认缴出资规模总计为4660万元，全体合伙人的出资方式均为人民币货 币出资。该投资基金拟专项投资于某人形机器人公司。 彩讯股份表示，本次公司与专业机构等共同投资，旨在充分借助专业投资机构的专业资源与投资管理优 势，在合理控制风险的前提下开展投资业务，有助于公司发现市场新机遇，拓展综合盈利渠道，进一步 提高闲置自有资金使用效率，从而提升公司的综合竞争能力和盈利能力。 彩讯股份指出，公司本次投资的资金来源于公司自有资金，不会对公司财务及经营状况产生不利影响， 不存在损害上市公司股东利益的情形。另外，本次参股投资基金具有投资周期长、流动性较低的特点， 可能面临较长的投资回报期。投资基金运行过程中将受宏观经济、行业周期、投资标的公司经营管理、 交易方案整合等多种因素影响，存在不能实现预期效益的风险。公司将密切关注投资基金经营管理状况 及投资项目的实施过程，以降低投资风险。 据了解，彩讯股份是一 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][10] Core Views - The company's revenue for the first half of 2025 reached 919.50 million yuan, a year-on-year increase of 17.72%, while the net profit attributable to the parent company was 135.38 million yuan, up 14.74% year-on-year [6] - The AI and computing-related revenue was 176.73 million yuan, with significant growth in the intelligent computing services and data intelligence product line, which saw a 50.05% increase year-on-year [6] - The company is focusing on integrating AI capabilities across its business lines, with a strong emphasis on technology research and development [6][7] Financial Performance Summary - Revenue projections for 2023A to 2027E are as follows: 1,496 million yuan (2023A), 1,652 million yuan (2024A), 1,954 million yuan (2025E), 2,296 million yuan (2026E), and 2,693 million yuan (2027E), with growth rates of 25%, 10%, 18%, 17%, and 17% respectively [2][7] - Net profit projections for the same period are: 325 million yuan (2023A), 230 million yuan (2024A), 273 million yuan (2025E), 319 million yuan (2026E), and 376 million yuan (2027E), with growth rates of 44%, -29%, 19%, 17%, and 18% respectively [2][7] - The company's cash flow from operating activities turned positive, achieving a significant increase of 722.76% [6] Business Segment Performance - The collaborative office product line generated revenue of 250 million yuan, a 2.01% increase year-on-year, while the smart channel product line achieved 353 million yuan, up 14.80% year-on-year [6] - The intelligent computing services and data intelligence product line's revenue reached 284 million yuan, marking a 50.05% increase year-on-year, driven by the self-developed AI native cloud computing solution [6] Market Position and Growth Potential - The company is positioned as a national high-tech enterprise, focusing on AI product and application development, with a comprehensive AI service system covering infrastructure, model training, and industry-specific solutions [6][7] - The company is expected to achieve revenues of 1,954 million yuan, 2,296 million yuan, and 2,693 million yuan in 2025, 2026, and 2027 respectively, with corresponding net profits of 273 million yuan, 319 million yuan, and 376 million yuan [7]