Market Overview - The software development sector increased by 0.93% on November 28, with Yongxin Zhicheng leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Top Performers - Yongxin Zhicheng (688244) closed at 24.66, up 20.00% with a trading volume of 153,200 shares and a transaction value of 356 million [1] - Guotou Intelligent (300188) closed at 16.59, up 7.45% with a trading volume of 788,500 shares [1] - Weide Information (688171) closed at 50.98, up 6.52% with a trading volume of 19,100 shares [1] Underperformers - ST Lifan (300344) closed at 3.36, down 5.62% with a trading volume of 636,900 shares [2] - Yingfang Software (688435) closed at 53.48, down 4.50% with a trading volume of 63,800 shares [2] - Jinchengzi (688291) closed at 36.90, down 3.30% with a trading volume of 72,400 shares [2] Capital Flow - The software development sector saw a net inflow of 211 million from main funds, while retail investors experienced a net outflow of 180 million [2][3] - Guotou Intelligent had a main fund net inflow of 231 million, but retail investors saw a net outflow of 153 million [3] - Yongxin Zhicheng experienced a main fund net inflow of 76.87 million, with retail investors facing a net outflow of 39.56 million [3]

Group 1 - The company will hold an investor briefing on December 4, 2025, from 10:00 to 11:00 AM to discuss its Q3 2025 performance and financial results [2][3][4] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [4][3] - Investors can submit questions from November 27 to December 3, 2025, and the company will address commonly asked questions during the briefing [2][4][3] Group 2 - Key personnel attending the briefing include the Chairman, General Manager, Vice General Manager, Board Secretary, Chief Financial Officer, and an Independent Director [4] - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center website on the day of the event [4][6] - After the briefing, investors can access the main content and details of the event through the Roadshow Center [6]

关于召开 2025 年第三季度业绩说明会的公告 证券代码：688651 证券简称：盛邦安全 公告编号：2025-035 远江盛邦安全科技集团股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 远江盛邦安全科技集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司《2025 年第三季度报告》，为便于广大投资者更全面深入地了 解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 4 日上 午 10:00-11:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交 流。 重要内容提示： 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 会议召开时间：2025 年 12 月 4 日(星期四)上午 10:00-11:00 二、说明会召开的时间、地点 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 ...

Core Viewpoint - Shengbang Security's stock price increased by 5.17% to 37.45 CNY per share, with a total market capitalization of 2.824 billion CNY as of November 24 [1] Company Overview - Shengbang Security Technology Group Co., Ltd. was established on December 7, 2010, and went public on July 26, 2023. The company is located in Haidian District, Beijing [1] - The main business activities include research, production, sales of information security products, and providing professional information security services. The revenue composition is as follows: 77.56% from cybersecurity products and services, 16.23% from cyberspace mapping, 6.11% from satellite internet security, and 0.09% from other sources [1] Shareholder Information - Changcheng Fund's Changcheng Jiujia Innovation Growth Mixed A Fund (004666) is among the top ten circulating shareholders of Shengbang Security. In the third quarter, it increased its holdings by 200,000 shares, totaling 1.7 million shares, which represents 5.24% of the circulating shares. The estimated floating profit today is approximately 3.128 million CNY [2] - The Changcheng Jiujia Innovation Growth Mixed A Fund was established on July 5, 2017, with a latest scale of 1.974 billion CNY. Year-to-date returns are 24.66%, ranking 2658 out of 8209 in its category; the one-year return is 22.62%, ranking 2597 out of 8129; and since inception, the return is 102.39% [2] Fund Management - The fund manager of Changcheng Jiujia Innovation Growth Mixed A Fund is You Guoliang, who has been in the position for 6 years and 34 days. The total asset size of the fund is 4.262 billion CNY. The best fund return during his tenure is 123.38%, while the worst return is -15.93% [3]

Core Viewpoint - Shengbang Security experienced a decline of 2.51% in stock price on November 20, with a trading volume of 44.76 million yuan, indicating market volatility and investor sentiment towards the company [1]. Financing Summary - On November 20, Shengbang Security had a financing buy-in amount of 4.85 million yuan and a financing repayment of 2.67 million yuan, resulting in a net financing buy of 2.18 million yuan [1]. - The total financing and securities balance for Shengbang Security reached 108 million yuan, accounting for 8.94% of its market capitalization, which is below the 20th percentile level over the past year, indicating a low financing balance [1]. - There were no short-selling activities on November 20, with a short-selling balance of 0.00 yuan, which is at a high level compared to the 90th percentile over the past year [1]. Business Performance - As of September 30, Shengbang Security reported a total of 5,160 shareholders, an increase of 25.70% from the previous period, while the average circulating shares per person decreased by 18.06% to 6,289 shares [2]. - For the period from January to September 2025, Shengbang Security achieved a revenue of 155 million yuan, representing a year-on-year growth of 8.49%, but reported a net profit attributable to shareholders of -54.07 million yuan, a decrease of 55.13% year-on-year [2]. Dividend and Shareholding - Since its A-share listing, Shengbang Security has distributed a total of 4.51 million yuan in dividends [3]. - As of September 30, 2025, the largest circulating shareholder is Changcheng Jiujia Innovation Growth Mixed A, holding 1.70 million shares, which is an increase of 200,000 shares compared to the previous period [3].

Group 1 - The core issue of AI models facing security vulnerabilities has been highlighted, with concerns about their potential misuse by malicious actors [1][4][5] - The recent amendment to the Cybersecurity Law emphasizes the need for improved AI ethics, risk monitoring, and security regulation to ensure the healthy development of AI applications [2][12] - Experts stress the urgency of building security barriers around AI models through technological innovation and industry collaboration [2][7] Group 2 - Various attack methods targeting AI models have emerged, including data poisoning, which can lead to the model producing incorrect outputs [3][5] - The phenomenon of "trust betrayal" among intelligent agents poses a new threat, where malicious agents can inject hidden commands into established dialogues [6][11] - The open-source nature of AI models introduces vulnerabilities that can affect all industry-specific models built on compromised foundations [6][11][13] Group 3 - The implementation of proactive defense strategies using AI technology is being explored to enhance cybersecurity measures [7][8] - The concept of "honey points" within AI models can be utilized to detect potential attacks before they occur, representing a shift towards preemptive security [8][9] - The need for a collaborative governance framework involving various stakeholders, including industry associations and academic institutions, is emphasized to address algorithmic ethics and security [10][12] Group 4 - The upcoming enforcement of the revised Cybersecurity Law is seen as a precursor to mandatory security measures for AI, aiming to balance innovation with safety [12][13] - The establishment of a third-party security certification and evaluation system is crucial for ensuring the transparency and effectiveness of AI model security [13]

Core Viewpoint - The integration of space, air, and ground communication networks, termed "space-air-ground integration," is identified as the future direction of the communication industry, with a focus on developing a comprehensive security system to address various communication and network security challenges [1]. Group 1: Company Developments - Shengbang Security has developed core technologies including security defense, vulnerability detection, cyberspace mapping, and satellite internet security to provide capabilities for "space-air-ground integration security," with existing orders already in place [1]. - The company has created onboard security products to ensure safety for satellites in orbit and has established a full-link security protection capability, featuring a 200G high-speed link encryption gateway that offers industry-leading 200Gbps encryption throughput and ultra-low latency of 3 microseconds [1]. Group 2: Market Outlook - The market demand for low-altitude economy, commercial aerospace, and ocean communication is expected to continue growing as the satellite, drone, and communication industries accelerate their development, indicating a broad market prospect for Shengbang Security's ongoing product research and solution iteration in "space-air-ground integration security" [1][2].

Core Viewpoint - The company, Shengbang Security, is focusing on developing security products for satellite control networks, operation control networks, and access networks, emphasizing a comprehensive security solution for satellite operations [1] Group 1: Security Solutions - The company adopts the core concept of "full-domain intelligent control, building an integrated security foundation for air and space" for its satellite control network security products [1] - For the satellite operation control network, the company aims to ensure network stability and data interaction security by integrating its self-developed satellite communication encryption system [1] - In the satellite access network, the company has developed various encryption products suitable for multiple scenarios, such as a 200G high-speed link encryption gateway and a mini IP link encryption machine, balancing high speed and lightweight requirements [1] Group 2: Project Wins and Future Plans - The company has successfully won a bid for a satellite-based security detection payload project [1] - Future product iterations will focus on commercial aerospace and low-altitude economy scenarios to enhance security service capabilities across the entire control, operation, and access link [1]

Core Viewpoint - The company, Yuanjiang Shengbang Security Technology Group Co., Ltd., is entering into a related party transaction by signing a lease agreement for office space with an associated individual, Meng Xianying, for a period of three years, with a total rental amount of 640,400 yuan excluding tax [2][4][13]. Summary by Sections 1. Overview of Related Party Transaction - The company's wholly-owned subsidiary, Beijing Shengbang Saiyun Technology Co., Ltd., plans to lease an office space of 292.4 square meters located at Room 505, Building B, No. 8 Longyu North Street, Huilongguan, Changping District, Beijing, from Meng Xianying for three years, from November 12, 2025, to November 11, 2028, at a monthly rent of 17,800 yuan, totaling 640,400 yuan for the lease term [2][4][13]. 2. Legal and Approval Process - The transaction has been approved by the company's independent directors, audit committee, and board of directors, and does not require shareholder meeting approval as it does not constitute a major asset restructuring [3][14][15]. 3. Details of the Lease Agreement - The lease agreement specifies that the first rental payment will be made alongside a security deposit of 17,800 yuan. The rental payments will be made quarterly, and the lessee is responsible for various utility costs [4][8][9]. 4. Necessity and Impact of the Transaction - This related party transaction is necessary for the company to secure a stable office location for important operational qualifications, positively impacting the company's business activities without harming the interests of the company or its shareholders [13][17]. 5. Related Party Information - Meng Xianying is identified as the spouse of the company's major shareholder and actual controller, qualifying her as a related party under relevant regulations. There are no other significant relationships between the company and Meng Xianying beyond this transaction [4][5].

Core Points - Shengbang Security announced a lease agreement for office space with an associated party, Meng Xianying, for a total area of 292.4 square meters in Beijing [2] - The lease term is set for three years, from November 12, 2025, to November 11, 2028, with a monthly rent of 17,800 yuan (excluding tax) [2] - The total rent amount over the lease period is projected to be 640,400 yuan (excluding tax) [2]