证券日报网讯 1月8日，彩讯股份（300634）在互动平台回答投资者提问时表示，彩讯股份是字节跳动 旗下火山引擎产品和服务的合作伙伴，目前共同在运营商数智化和AI应用方向有合作落地；同时公司 自主研发的Rich AIBox一站式AI应用开发平台已对接豆包大模型及豆包语音、多模态模型，可实现企业 私域知识库无缝衔接与多场景智能体可视编排，助力企业快速构建AI应用。 ...

Group 1 - The core point of the article is that 彩讯股份 plans to invest 5 million yuan in a venture capital fund focused on humanoid robotics, aiming to leverage professional investment resources to enhance its competitive and profit capabilities [1] - The total capital commitment from all partners in the fund amounts to 46.6 million yuan, with 彩讯股份 holding a 10.73% stake [1] - The investment is sourced from the company's own funds and is not expected to adversely affect its financial or operational status [1] Group 2 - 彩讯股份 is a provider of digital technology and services, focusing on enterprise digital transformation with products in collaborative office, smart channels, intelligent computing services, and data intelligence [2] - The company has developed various AI-based products, including Rich Mail smart email, AI office assistant, and a one-stop AI application development platform, to assist clients in sectors like telecommunications, energy, finance, and government [2] - In the field of embodied intelligence, 彩讯股份 is involved in developing applications for robotic dogs, enhancing their interactive design and control for home environments [2]

Group 1 - The company plans to invest 5 million RMB in a venture capital fund focused on humanoid robotics, representing a 10.73% stake in the fund, which has a total commitment of 46.6 million RMB from all partners [1] - The investment aims to leverage professional resources and investment management advantages to discover new market opportunities and enhance the efficiency of idle capital, thereby improving the company's competitive and profitability capabilities [1] - The funding for this investment comes from the company's own resources and will not adversely affect its financial or operational status, ensuring no harm to shareholder interests [1] Group 2 - The company is a leading provider of digital technology and services, focusing on enterprise digital transformation, with three main product lines: collaborative office, smart channels, and intelligent data services [2] - The company utilizes core technologies such as AI, cloud computing, 5G, and big data to develop various products, including intelligent email systems and AI office assistants, to support clients in sectors like telecommunications, energy, finance, and government [2] - In the field of embodied intelligence, the company is involved in developing applications for robotic dogs, enhancing user interaction and experience in home settings [2]

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]