智通财经APP讯，明源云(00909)发布公告，于2025年9月3日斥资98.3万港元回购27.7万股。 ...

明源云(00909)发布公告，于2025年9月3日斥资98.3万港元回购27.7万股。 ...

格隆汇9月3日丨明源云(00909.HK)发布公告，2025年9月3日耗资98.31万港元回购27.7万股，回购价格每 股3.54-3.56港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 明源雲集團控股有限公司 第 1 頁 共 7 頁 v 1.3.0 | | | 第 2 頁 共 7 頁 v 1.3.0 FF305 FF305 呈交日期： 2025年9月3日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00909 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | 庫存股份變動 | | | ...

Core Viewpoint - The company has adjusted its revenue forecasts for 2025 and 2026 downwards by 18.0% and 17.6% to 1.27 billion yuan each, while increasing its adjusted net profit forecasts for the same years to 68.1 million yuan and 87.05 million yuan due to effective cost control [1] Group 1: Financial Performance - In the first half of 2025, the company's revenue decreased by 15.9% year-on-year to 610 million yuan, which was below expectations, primarily due to headwinds in the real estate industry [2] - The adjusted net profit for the first half of 2025 was 33.12 million yuan, marking a turnaround from a loss of 16.96 million yuan in the same period last year, with an adjusted net profit margin of 5.5% [2] - The company’s overall expenses decreased by 20% year-on-year to 560 million yuan, contributing to the improved profitability [5] Group 2: Industry Challenges - The company faced revenue pressure in various business lines due to the downturn in the domestic residential market and optimization of certain product lines, leading to a decline in short-term contracts [3] - The cloud service revenue fell by 14.3% year-on-year to 520 million yuan, with specific segments like customer relationship management and project construction experiencing significant declines [3] Group 3: Growth Drivers - The company has made significant progress in the AI sector, with AI product contracts amounting to 32 million yuan in the first half of 2025, surpassing the total for the previous year [4] - In the overseas market, the company achieved approximately 15 million yuan in contract value and completed the acquisition of a Japanese real estate technology company, establishing localized teams in Japan, Hong Kong, and Southeast Asia [4] Group 4: Cost Control and Efficiency - The company has successfully implemented cost reduction and efficiency improvement measures, resulting in a 14.6% increase in per capita output value to 345,000 yuan [5] - The operating cash flow net outflow narrowed by 74% year-on-year, indicating improved cash flow management [5]

Core Viewpoint - The company has adjusted its revenue forecasts for Mingyuan Cloud (00909) for 2025 and 2026 down by 18.0% and 17.6% to 1.27 billion yuan each, while increasing its adjusted net profit forecasts for the same years to 68.1 million yuan and 87.05 million yuan due to effective cost control [1] Group 1: Financial Performance - In the first half of 2025, Mingyuan Cloud's revenue decreased by 15.9% year-on-year to 610 million yuan, which was below expectations, primarily due to headwinds in the real estate industry [2] - The adjusted net profit for the same period was 33.12 million yuan, marking a turnaround from a loss of 16.96 million yuan in the previous year, with an adjusted net profit margin of 5.5% [2] - The company’s overall expenses (excluding share-based payments) decreased by 20% year-on-year to 560 million yuan, with management, R&D, and marketing expenses down by 5%, 21%, and 22% respectively [5] Group 2: Industry Challenges - The company faced revenue pressure in various business lines due to a decline in short-term contracts, influenced by the domestic residential market downturn and product line optimization [3] - Cloud service revenue fell by 14.3% to 520 million yuan, with specific segments like customer relationship management and project construction seeing declines of 13.1% and 25.5% respectively [3] Group 3: Growth Drivers - The company has made significant progress in AI, with AI product contracts totaling 32 million yuan in the first half of 2025, surpassing the entire previous year's new contract amount [4] - In the overseas market, the company achieved approximately 15 million yuan in contract value and completed the acquisition of ASIOT Corporation in Japan, establishing localized teams in Japan, Hong Kong, and Southeast Asia [4] Group 4: Operational Efficiency - The company reported a 14.6% increase in per capita output to 345,000 yuan, reflecting successful cost reduction and efficiency improvement measures [5] - Operating cash flow net outflow narrowed by 74% year-on-year to 42.8 million yuan, indicating improved cash flow management [5]

致：香港交易及結算所有限公司 公司名稱: 明源雲集團控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年9月2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) | 00909 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,800,000,000 | HKD | | 0.0001 HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,800,000,000 | HKD | | 0.0001 HKD | | 380,000 | 本月底法定/註冊股本總額： HKD 380,000 FF301 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 截 ...

在2025中国国际大数据产业博览会暨828 B2B企业节上，明源云产业中心政企营销负责人张宇雷作为华为云生态 伙伴代表，以《加速国资国企智赢新时代》为主题，与来自全国各地的行业嘉宾分享了明源云在助力国资国企数 字化转型方面的最新实践与成果。张宇雷指出，"盘清家底、资产盘活、严控新增债务"是国资国企高质量发展的 核心抓手，而数字化、智能化体系则是这一转型的关键驱动力。 作为华为云长期紧密合作的伙伴，明源云与华为云在智算、云服务、安全等层面深度协同，共同打造适配国资国 企全场景需求的"1+2+N"智慧监管与运营模式，已累计服务全国1000+家国资国企，覆盖政府平台、城市运营、产 业发展及地产开发等领域，推动国资国企数智治理迈向新高度。 明源云基于已服务超过1000家国资国企得出的丰富实践经验，提炼出"1+2+N"智慧监管模式，这一模式已成为加 速国资国企数字化转型的关键框架。它由1个核心分析决策平台，数据交换层与数据分析层2大能力中心，以及N 个业务场景模块组成，全面覆盖政府平台、城市运营、产业发展等全链路需求，帮助企业实现从数据驱动到智能 决策的跃升。 具体而言，1个分析决策平台作为中枢，整合多源数据并提供实时 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is experiencing revenue pressure, but profits are gradually improving. The focus on AI and overseas expansion is becoming clearer, leading to a positive outlook despite current challenges in the real estate market [5][6] - Revenue estimates for 2025-2027 have been revised down to 1.29 billion, 1.24 billion, and 1.29 billion RMB respectively, reflecting year-on-year changes of -10.3%, -3.8%, and +4.4%. However, net profit estimates for 2025 and 2026 have been raised to 40 million and 80 million RMB, respectively [5][6] Financial Summary and Valuation Metrics - Revenue for 2023 was 1.64 billion RMB, with a year-on-year decline of 9.7%. The projected revenue for 2025 is 1.29 billion RMB, reflecting a further decline of 10.3% [8] - The net profit for 2023 was -586 million RMB, with a projected net profit of 43 million RMB for 2025, indicating a significant turnaround [8] - The gross margin is expected to be stable at around 80.6% from 2025 to 2027, while the net margin is projected to improve from 3.3% in 2025 to 8.5% in 2027 [8] - The price-to-sales (P/S) ratio is estimated at 5.5 for 2025, indicating a valuation that reflects the company's growth potential despite current market pressures [8]

Market Overview - The Hang Seng Index closed at 25,201.76 points, down 1.27% [1] - The Hang Seng Tech Index closed at 5,697.53 points, down 1.47% [1] - The China Enterprises Index closed at 9,020.26 points, down 1.40% [1] - The Red Chip Index closed at 4,273.29 points, down 1.62% [1] Top Gainers - Nongfu Spring rose over 7% to 50.250 HKD [1][2] - NIO-SW increased over 4% to 51.700 HKD [1][2] - Shanghai Fudan and WanGuo Data-SW both rose over 1% [1][2] Top Losers - Beike-W fell over 6% to 47.200 HKD [1][2] - Naixue's Tea and Stone Pharmaceutical Group both dropped over 5% [1][2] - Li Ning, Alibaba Health, and Pop Mart fell over 4% [1][2] - JD Logistics, Zhou Hei Ya, and Mengniu Dairy declined over 3% [1][2] - Other notable declines include Zhou Dafu, Dongfang Zhenxuan, and Haidilao, all down over 2% [1][2]