Group 1 - The company is continuously advancing the transformation and upgrading of its primary growth curve in network security business [2] - The company has developed a comprehensive network security business that integrates AI and covers various scenarios including basic networks, industrial internet, vehicle networking, and IoT [2] - The network security services span across multiple industries such as government, telecommunications, finance, energy, education, and healthcare [2]

Core Viewpoint - The company views its intelligent computing cloud (智算云) as a strategic development direction with significant market potential, expected to become a new growth engine for its performance [2] Group 1: Business Growth - The company launched its cloud computing products in 2019, and the revenue from this business has maintained rapid growth, with a five-year compound annual growth rate (CAGR) of 44.76% [2] - By 2024, the cloud computing business is projected to account for 9.06% of the company's total revenue [2] Group 2: Product Development - In February 2025, the company will launch the intelligent computing integrated machine (智算一体机), upgrading its cloud computing business to intelligent computing cloud [2] - The company has released an intelligent computing cloud platform and 17 integrated machines that cater to various performance needs, providing full-stack cloud capabilities for sectors such as government, finance, telecommunications, energy, education, and healthcare [2] Group 3: Application Areas - The intelligent computing cloud has already been implemented in various fields, including government services, education, healthcare, and scientific research [2]

Core Viewpoint - Tianrongxin's stock price has shown significant fluctuations, with a year-to-date increase of 41.37%, despite a recent decline over the past 60 days [1] Group 1: Stock Performance - On December 31, Tianrongxin's stock rose by 2.02%, reaching 9.09 CNY per share, with a trading volume of 183 million CNY and a turnover rate of 1.76%, resulting in a total market capitalization of 10.721 billion CNY [1] - The stock has experienced a net outflow of 770,300 CNY from main funds, with large orders showing a buy of 35.5995 million CNY (19.42%) and a sell of 37.3252 million CNY (20.36%) [1] - The company has appeared on the trading leaderboard seven times this year, with the most recent appearance on October 29, where it recorded a net buy of 228 million CNY [1] Group 2: Financial Performance - For the period from January to September 2025, Tianrongxin reported a revenue of 1.202 billion CNY, a year-on-year decrease of 24.01%, and a net profit attributable to shareholders of -235 million CNY, down 39.10% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 456 million CNY, with 44.2017 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of Tianrongxin's shareholders reached 118,700, an increase of 60.25% from the previous period, with an average of 9,833 shares held per shareholder, a decrease of 37.60% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 19.3638 million shares, an increase of 1.6225 million shares from the previous period [3]

（编辑 丛可心） 证券日报网讯 12月29日，天融信在互动平台回答投资者提问时表示，公司在量子计算领域进行投入和 布局，开展"量子+安全"深度融合，推动量子通信、量子计算等相关场景的落地应用，目前已申请量子 科技相关专利。 ...

Core Viewpoint - Tianrongxin's intelligent computing cloud platform integrates five capabilities: computing, storage, networking, security, and intelligence, catering to various needs such as intelligent computing centers, private deployment and training of large models, and security protection for large models [1] Group 1 - The intelligent computing cloud platform is designed to provide full-stack cloud capabilities from general computing power to intelligent computing power for government, state-owned enterprises, and public institutions [1] - The company has made investments and laid out plans in the field of quantum technology, although its intelligent computing cloud does not currently incorporate quantum technology [1]

Group 1 - The core viewpoint of the article is that Tianrongxin (002212) is actively expanding its market presence through its intelligent computing cloud platform and integrated intelligent computing machines, which have been successfully implemented in various sectors such as government, education, healthcare, and scientific research [1] Group 2 - The company is continuously promoting broader industry market coverage for its products [1]

Group 1: Industry Overview - The Chinese firewall industry has a high market concentration, with Huawei holding a market share of 28% and H3C at 22%, leading to a combined CR2 market share of approximately 50% [3] - The industry has seen significant growth in market size, projected to reach $2.8 billion by 2024, driven by the digital transformation of enterprises and the increasing complexity of network boundaries [8] Group 2: Company Insights - Huawei and Tianrongxin entered the market relatively early, with Tianrongxin established in 1985 and Huawei having a registered capital exceeding 41 billion yuan [1] - Huawei's firewall products utilize an embedded Emulator microkernel and AI security detection algorithms, achieving a 95% detection rate for unknown threats, which has contributed to its market leadership [3] Group 3: Historical Development - The evolution of firewalls has progressed from simple packet filtering in 1989 to advanced AI-based threat detection models introduced by Huawei in 2018, addressing the challenges posed by advanced persistent threats (APTs) [6]

Group 1 - The "Qihang·2025 Financial Summit" was successfully held in Beijing, focusing on the theme of "New Starting Point, New Momentum, New Journey," gathering hundreds of leaders and guests from various sectors including regulatory bodies, industry associations, financial institutions, listed companies, and media [1] - The 14th "Jinzhi Award" annual evaluation results were announced, with Tianrongxin winning the "Outstanding Brand Award" [1][3] - The "Jinzhi Award" aims to establish benchmarks for high-quality development, guiding listed companies to focus on their core businesses, continue innovation, and fulfill social responsibilities, thereby promoting capital concentration towards quality enterprises [3] Group 2 - Tianrongxin, founded in 1995, is one of the earliest listed network security companies in China and has maintained the highest market share in the domestic firewall market for 25 consecutive years [4] - The company has been actively developing new business directions such as AI+security, data security, intelligent computing cloud, and industrial internet security, positioning itself as a comprehensive network security enterprise with extensive product categories and hardware chip development capabilities [4] - As a recipient of the "Outstanding Brand Award," Tianrongxin's strong brand competitiveness is attributed to its deep accumulation in the network security industry and continuous innovation [4][5] Group 3 - Network security is a crucial foundation for national security and is essential for supporting industrial upgrades and development [5] - Tianrongxin is committed to applying cutting-edge technologies like AI and intelligent computing cloud in the security field, guided by the "14th Five-Year Plan," focusing on localization, industry-specific solutions, service-oriented approaches, and intelligence [5] - The award recognition reflects the industry's acknowledgment of Tianrongxin's past achievements and expectations for its future role in leading industry security development [5]

Group 1 - The core viewpoint of the news is that Tianrongxin's stock has shown significant fluctuations, with a year-to-date increase of 40.90% and a recent trading volume indicating active market participation [1] - As of December 26, Tianrongxin's stock price was 9.06 yuan per share, with a total market capitalization of 10.686 billion yuan [1] - The company has experienced a net inflow of main funds amounting to 435,100 yuan, with large orders contributing significantly to both buying and selling activities [1] Group 2 - Tianrongxin's main business revenue composition includes 86.98% from network security, 12.40% from intelligent computing cloud, and 0.63% from other sources [1] - The company belongs to the computer software development industry and is associated with several concepts such as EDR, Huawei Kunpeng, and domestic software [2] - As of September 30, the number of Tianrongxin's shareholders increased by 60.25% to 118,700, while the average circulating shares per person decreased by 37.60% [2] Group 3 - Tianrongxin has distributed a total of 456 million yuan in dividends since its A-share listing, with 44.2017 million yuan distributed in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the fifth-largest circulating shareholder, increasing its holdings by 1.6225 million shares [3] - The South China CSI 1000 ETF is the eighth-largest circulating shareholder, having reduced its holdings by 133,000 shares [3]

Group 1 - The company, Tianrongxin (002212), has indicated its technological reserves and layout in various fields including intelligent driving safety, commercial aerospace safety, quantum communication security, quantum computing security, satellite internet security, and chip security [1] - The company encourages investors to continuously monitor its information disclosure regarding performance-related matters [1]