Core Insights - Mingyuan Cloud (00909) announced the acquisition of ASIOT Co., Ltd., a provider of AI and IoT solutions for the Japanese real estate industry, through its wholly-owned subsidiary MytePro Technology Japan for a total cash consideration of 700 million JPY [1] - The acquisition will allow the company to hold 100% of ASIOT's shares, and its financial performance will be consolidated into the group's financial statements [1] - Japan's real estate market is one of the largest globally, with a GDP contribution of over 60 trillion JPY, accounting for more than 10% of the local GDP [1] Industry Context - The Japanese real estate industry faces challenges such as an aging population leading to a shortage of skilled professionals and rising management costs due to aging infrastructure [1] - The Japanese government is accelerating the digital transformation of the real estate sector to address these challenges [1] - ASIOT's smart metering solutions enable remote meter reading and data analysis, helping to reduce labor costs and improve efficiency, having already been commercially validated in the Japanese market [1] Strategic Implications - This acquisition is a key move for the company to expand into the Japanese market and represents an important milestone in its global strategy [2] - The company aims to leverage its best practices and brand strength from the Chinese real estate digitalization market, combined with ASIOT's mature digital products and customer resources, to provide cost-effective "AI + IoT + SaaS" solutions to Japanese real estate clients [2] - Post-acquisition, the company and ASIOT will share resources in products, operations, and technology to achieve rapid business collaboration and development [2]

智通财经APP讯，明源云(00909)公布，近日，公司全资子公司MytePro Technology Japan株式会社 (MytePro Japan)与三位独立第三方签订了股份购买协议，以收购ASIOT株式会社，该公司是一家专为日 本不动产行业提供人工智能(AI)及物联网(IOT)解决方案的服务商。根据股份购买协议，MytePro Japan 同意以总现金代价7亿日元收购目标公司100%的股权。 收购完成后，该公司将持有目标公司100%的股权。目标公司将成为公司附属公司，且目标公司的财务 业绩将会并入集团的财务报表。 据悉，日本是全球最大的不动产单体市场之一，相关行业国内生产总值(GDP)长期维持在六十万亿日 元，占当地GDP的10%以上。该行业长期面临两方面挑战：一是人口老龄化导致专业人才短缺;二是既 有建筑设备老化导致管理成本上升。为应对上述挑战，日本政府正加速推进不动产行业数字化转型。目 标公司的智能抄表解决方案能实现远程抄表及数据分析，有助于降低人力成本并提升抄表效率。该方案 已在日本市场完成商业验证，并获得部分不动产企业客户的认可。 基于上述行业背景，此次收购既是公司开拓日本市场的关键举措，更是实 ...

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告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Ming Yuan Cloud Group Holdings Limited 明源雲集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：909） 自願性公告 收購目標公司的100%股權 本公告乃由明源雲集團控股有限公司（「本公司」，連同其附屬公司及併表聯屬實 體統稱「本集團」）自願作出。 1 基於上述行業背景，此次收購既是本公司開拓日本市場的關鍵舉措，更是實現全 球化布局的重要里程碑。本公司依托深耕中國不動產數字化市場積累的行業最佳 實踐與品牌勢能，結合目標公司成熟的數字化產品與客戶資源，旨在為日本不動 產企業客戶提供高效且具有性價比的「AI+IOT+SaaS」數字化解決方案，以滿足當 地市場需求。收購完成後，本公司與目標公司將在產品、運營和技術等方面進行 資源共享，實現業務快速協同發展。 由於根據香港聯合交易所有限公司證券上市規則（「上市規則」）第14.07條計算所 得之本次收購所有適用百 ...

Summary of Ming Yuan Cloud (0909.HK) Conference Call Company Overview - **Company**: Ming Yuan Cloud (0909.HK) - **Industry**: Real Estate Software in China Key Financial Highlights - **1H25 Profit Alert**: Expected net profit between Rmb12.09 million to Rmb15.41 million, significantly better than previous estimates of Rmb141 million net loss and Rmb85 million loss consensus [1][6] - **Cost Control**: The positive profit is attributed to better-than-expected cost control measures [1] Forecast Changes - **Revenue Forecast**: 2025-27E revenue forecast remains largely unchanged [2] - **Adjusted Net Profit**: Increased by 107%/57%/46% for 2025-27E to reflect the above-expectation net profit [2] - **2025E Expectations**: Anticipated flat revenue with adjusted net profit of Rmb117 million [2] Valuation and Price Target - **Target Price**: Raised to HK$2.25 from HK$2.00 based on DCF valuation methodology [2] - **Current Price**: HK$3.53, indicating a downside potential of 36.3% [11] Investment Thesis - **Business Transition**: Ming Yuan Cloud is in the early stages of transitioning its business model amidst a challenging real estate market in China [7] - **Cash Position**: Strong net cash position of Rmb3.8 billion as of 1H24, with 71% held in USD/HKD offshore [7] - **Operational Efficiency**: Effective OPEX reduction leading to a positive net profit inflection expected in 2H24E [9] Risks and Considerations - **Upside Risks**: Faster recovery in the real estate sector, increased digitization demand, successful transition into new business initiatives, and improved market sentiment [10] - **Downside Risks**: Poor execution in cost reduction, weaker sales cycles, and slow share repurchase program execution [10] Financial Metrics - **Market Cap**: HK$6.5 billion / $829.4 million [11] - **Revenue Estimates**: Expected revenues for 2025E at Rmb1,434.8 million [11] - **EBITDA**: Projected negative EBITDA for 2024, turning positive in subsequent years [11] Conclusion - **Rating**: Neutral on Ming Yuan Cloud, with a cautious outlook given the current market conditions and the company's transition phase [9][10]

Core Viewpoint - Mingyuan Cloud (00909) has announced a positive earnings forecast, expecting a net profit attributable to shareholders between RMB 12.09 million and RMB 15.41 million for the six months ending June 30, 2025, compared to a net loss of approximately RMB 115 million in the same period last year [1] Group 1: Financial Performance - The company anticipates a turnaround from loss to profit, primarily due to the optimization of its existing product line and customer structure [1] - The expected profit range indicates a significant improvement in financial health, showcasing a strategic shift in operations [1] Group 2: Operational Efficiency - The focus on core products and key customers has led to a reduction in development, sales, and operational costs [1] - The implementation of AI technology has significantly enhanced operational efficiency, resulting in a substantial year-on-year increase in output per employee [1] Group 3: Currency Impact - The report period experienced an increase in foreign exchange gains due to the appreciation of the US dollar against the Hong Kong dollar [1]

Group 1 - The core viewpoint of the article highlights the significant stock performance of Mingyuan Cloud, which saw a 5.38% increase, reaching a price of 3.72 yuan per share with a trading volume of 1.16 billion yuan [1] - Mingyuan Cloud Group Holdings Limited is a service provider offering digital solutions for the real estate ecosystem, with a focus on various SaaS products and solutions including digital operations, marketing, engineering, asset management, supply chain, property management, and commercial services [1] - The company has provided digital products and services to over 7,000 real estate development and operation enterprises, as well as comprehensive digital solutions to more than 1,000 state-owned enterprises, aiding in their digital transformation and high-quality development [1] Group 2 - As of the 2024 annual report, Mingyuan Cloud reported total operating revenue of 1.435 billion yuan and a net profit of -190 million yuan [2]

明源云(00909)午后一度涨超9%，截至发稿，涨7.08%，报3.78港元，成交额2.05亿港元。 消息面上，明源云日前发盈喜，预期于截至2025年6月30日止六个月将取得于约人民币1209万元至人民 币1541万元之间的股东应占利润净额，去年同期则取得股东应占亏损净额约人民币1.15亿元。预期扭亏 为盈主要归因于公司积极优化其现有产品线及客户结构，聚焦核心产品与重点客户，以此削减对应的开 发、销售、运营成本；通过AI技术赋能进一步提升经营效率，人均产出同比大幅提升；及报告期内受 美元兑港币升值影响导致的外汇收益增加。 ...

本文源自财华网 【财华社讯】明源云(00909.HK)公布，预期截至2025年6月30日止六个月将录得介乎于约人民币1209万 元至人民币1541万元之间的股东应占利润净额，相比2024年同期则录得股东应占亏损净额约人民币1.15 亿元。预期扭亏为盈主要原因为积极优化其现有产品线及客户结构，聚焦核心产品与重点客户，以此削 减对应的开发、销售、运营成本；通过AI技术赋能进一步提升经营效率，人均产出同比大幅提升；及 报告期內受美元兑港币升值影响导致的外汇收益增加。 ...

Core Viewpoint - Mingyuan Cloud (00909) is expected to achieve a net profit attributable to shareholders ranging from approximately RMB 12.09 million to RMB 15.41 million for the six months ending June 30, 2025, marking a turnaround from a net loss of approximately RMB 115 million in the same period last year [1] Group 1 - The anticipated turnaround to profitability is primarily due to the company's active optimization of its existing product line and customer structure, focusing on core products and key customers to reduce corresponding development, sales, and operational costs [1] - The company has enhanced operational efficiency through AI technology, significantly increasing output per employee year-on-year [1] - The reporting period also benefited from increased foreign exchange gains due to the appreciation of the US dollar against the Hong Kong dollar [1]

本公告乃由明源雲集團控股有限公司（「本公司」，連同其附屬公司及併表聯屬實 體，統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部的內幕消息條文（定義 見上市規則）作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資 者，根據對本集團截至二零二五年六月三十日止六個月（「報告期」）之未經審核綜 合管理賬目作出之初步審閱及分析以及董事會目前所得資料，本集團預期於報告 期將錄得介乎於約人民幣12.09百萬元至人民幣15.41百萬元之間的股東應佔利潤 淨額。相比之下，本集團於去年同期錄得股東應佔虧損淨額約人民幣115.37百萬 元。 預期扭虧為盈之主要原因為： 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告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Ming Yuan Cloud Group Holdings Limited 明源雲集團控股有限公司 （於開曼群島註冊成立的有限 ...