香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINASOFT INTERNATIONAL LIMITED 中軟國際有限公司 * 董事會亦謹此提供有關未動用所得款項淨額用途變動之最新資料。 1 所得款項用途變動 本公司於二零二一年十月四日訂立配售協議，以配售最多合共162,000,000股配售 股份，有關配售價為每股配售股份12.26港元，為本公司籌集之所得款項淨額約為 19.70億港元（「所得款項淨額」）（經扣除配售事項之佣金及其他開支後）。下文載 列本公司對所得款項淨額之用途及擬定用途，以及自配售事項完成後，有關約7.88 億港元（佔所得款項淨額約40%）用於鴻蒙操作系統及OpenHarmony用途之預期時 間表之變動： | | | | 於二零二五年 | | | --- | --- | --- | --- | --- | | | | | 中期報告所披 | | | 所得款項 | | | 露之所得款項 | 預期動用時間 | | 淨額分配 | 所得款 ...

Core Viewpoint - Nomura has raised the target price for China Software International (00354) by 33.9%, from HKD 5.6 to HKD 7.5, while maintaining a "Buy" rating [1] Group 1: Business Performance - The worst period for China Software International may be over, as its core IT outsourcing business shows signs of recovery with a year-on-year growth of 7% in the first half of 2025, primarily benefiting from Huawei's business restructuring [1] - Despite facing pricing pressure in traditional IT outsourcing, the company is expected to achieve mid to high single-digit year-on-year growth in this segment from fiscal years 2025 to 2027 [1] Group 2: Revenue and Profitability Outlook - The overall revenue growth for the company is projected to reach 10-15% (low teens) year-on-year during the same period [1] - Due to the increasing contribution from higher-margin AI cloud services, the company's profit margins are expected to expand over the next 2-3 years [1]

Core Viewpoint - Nomura has raised the target price for China Software International (00354) by 33.9%, from HKD 5.6 to HKD 7.5, maintaining a "Buy" rating [1] Group 1: Business Performance - The worst period for China Software International may be over, as its core IT outsourcing business shows signs of recovery with a year-on-year growth of 7% in the first half of 2025, following nearly three years of decline [1] - The recovery is primarily attributed to Huawei's business restructuring, which is expected to increase demand for China Software International's IT services [1] Group 2: Future Outlook - Despite ongoing pricing pressure in traditional IT outsourcing, it is anticipated that this segment will achieve mid to high single-digit year-on-year growth from fiscal years 2025 to 2027 [1] - Overall revenue growth for the company is projected to reach 10-15% (low teens) during the same period [1] - The contribution from higher-margin AI cloud services is expected to enhance profit margins, with an expansion forecasted over the next 2-3 years [1]

Group 1 - The core viewpoint of the article is that China Software International (00354) has a positive outlook for its AI business, expecting a year-on-year growth of 109% this year, which will contribute to an improvement in gross margin [1] - The management of China Software International believes that the government's goal is to build smart cities based on the HarmonyOS, and they have already signed a contract with the Xi'an government, with other projects in progress [1] - Citic Lyon maintains a "outperform" rating for China Software International with a target price of HKD 7.5 [1]

Group 1 - The core viewpoint of the article highlights that China Software International (00354) presented a more optimistic outlook during the Citic Lyon investor forum, with expectations of a 109% year-on-year growth in its AI business this year, which is anticipated to improve gross margins [1] - The management of China Software International believes that the government's goal is to build smart cities based on the HarmonyOS, and they have already signed a contract with the Xi'an government, with other projects in progress [1] - Citic Lyon maintains a "outperform" rating for China Software International with a target price of HKD 7.5 [1]

股份方面，该行强烈建议H股多于A股;行业首选为北森控股(09669)，目标价10.3港元，评级"增持"，预 期收入将加速增长;其次为金蝶国际(00268)、中国软件国际(00354)及金山软件(03888)，目标价分别为 14.2港元、6.6港元(原本5.4港元)及38港元，均予"与大市同步"评级。 资金方面，该行认为板块在低利率环境下将跟随整体市场流动性，且有更高弹性(Beta)，因主动型基金 的相关配置比重极低。主题投资如AI应用、科技本土化和稳定币等，可能对股价产生显著影响，但目 前该行尚未发现到可以真正扭转行业基本面的主题。 摩根士丹利发布研报称，就内地软件行业基本面而言，该行仍保持谨慎态度，因预期内地GDP增长将放 缓，且通缩压力依然存在，企业对IT投资的信心仍较低，相信要待通缩结束后1至2年才会恢复。在需求 出现实质转折前，任何供应端推动的新技术趋势，都只能够促使现有的预算在市场中重新分配。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 中軟國際有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00354 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.05 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.05 | HKD | | 200,000,000 | 本月底法定/註冊股本總額： HKD 200,000,000 ...

Group 1 - The company has successfully won the bid for the centralized procurement project of human resource outsourcing services from Sinochem Information Technology Co., Ltd. for the years 2025-2027, which includes consulting, ERP, and implementation operation services [2] - The project aims to promote digital consulting, cloud planning, and IT innovation applications in the chemical industry, as well as optimize ERP systems [2] - This win is a recognition of the company's capabilities in ERP consulting implementation and digital transformation, reinforcing its market advantage in the energy sector and among central state-owned enterprises [2] Group 2 - The company plans to continue focusing on the petrochemical industry, emphasizing digital transformation, domestic substitution, and innovation in large model applications to support high-quality development in the industry [2]

Core Viewpoint - China Software International (00354.HK) has successfully entered the centralized procurement project for human outsourcing services by Sinochem Information Technology Co., Ltd. for the years 2025-2027, which includes key service categories such as consulting, ERP, and implementation operations [1] Group 1: Project Details - The project aims to promote digital consulting, cloud planning, and innovative IT applications in the chemical industry, ensuring efficient application and continuous optimization of ERP systems within enterprises [1] - The successful entry into this project is a strong recognition of the company's capabilities in ERP consulting implementation and digital transformation services [1] Group 2: Strategic Implications - This milestone marks a significant step for the company in empowering the digital transformation in the energy sector, further consolidating its penetration advantage among central state-owned enterprises [1] - The company plans to continue focusing on the petrochemical industry, aligning with industry development trends and customer needs, while emphasizing the combination of technology leadership and industrial upgrading [1] Group 3: Future Directions - The company will persist in driving digital transformation, domestic substitution, and innovation in large model applications, contributing to the cultivation of innovative-driven new productive forces for central state-owned enterprises [1] - The goal is to enhance the high-quality development of the industry by providing more wisdom and strength [1]

Core Viewpoint - China Software International (00354) has successfully entered the centralized procurement project for human outsourcing services by Sinochem Information Technology Co., Ltd. for the years 2025-2027, which includes key service categories such as consulting, ERP, and implementation operations [1] Group 1 - The project aims to promote digital consulting, cloud planning, and innovative IT applications in the chemical industry, ensuring efficient application and continuous optimization of ERP systems within enterprises [1] - The inclusion in this project signifies a high recognition of the company's ERP consulting implementation and digital transformation service capabilities, marking a solid step in empowering the digital development of the energy sector [1] - This achievement further consolidates the company's penetration advantage among central state-owned enterprises, laying a strong foundation for strategic layout advancement [1] Group 2 - The company will continue to focus on the petrochemical industry, aligning closely with industry development trends and customer needs [1] - The company aims to combine technology leadership with industrial upgrading, continuously pushing forward in areas such as digital transformation, domestic substitution, and innovative applications of large models [1] - The goal is to help central state-owned enterprises cultivate more innovation-driven new productive forces, contributing to the high-quality development of the industry [1]