致：香港交易及結算所有限公司 公司名稱: 七牛智能科技有限公司 呈交日期: 2025年8月5日 截至月份: 2025年7月31日 狀態: 新提交 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) | 02567 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.0001 | USD | | 500,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.0001 | USD | | 500,000 | 本月底法定/註冊股本總額： USD 500,000 FF301 股份發行人及根據《上市規則》第十九B ...

消息面上，自上市以来，七牛智能便一直积极围绕AI展开战略布局，正式换道AI。如今，公司已蜕变 成为"音视频+AI+云服务"赛道的领先者。值得关注的是，今年7月，七牛智能AI大模型用户量成功突破 10000人，验证了其技术路线的市场吸引力，也标志着公司换道AI战略布局迎来新里程（002219）碑。 七牛智能(02567)再涨超6%，近一个月股价累升五成。截至发稿，涨6.11%，报1.39港元，成交额456.23 万港元。 ...

Core Viewpoint - Qiniu Intelligent (02567) has seen its stock price increase by over 50% in the past month, with a current rise of 6.11% to HKD 1.39, indicating strong market performance and investor interest [1] Group 1: Company Performance - Qiniu Intelligent's stock has risen by more than 6% recently, with a trading volume of HKD 4.5623 million [1] - The company has transformed into a leader in the "audio-video + AI + cloud services" sector, showcasing its strategic pivot towards AI [1] Group 2: Strategic Developments - Since its listing, Qiniu Intelligent has actively pursued a strategy centered around AI, marking a significant shift in its business model [1] - In July of this year, the user base for Qiniu Intelligent's AI model surpassed 10,000, demonstrating the market appeal of its technological direction and marking a new milestone in its AI strategy [1]

申万宏源发布研报称，七牛智能布局AI大语言模型推理服务、AI Agent、Go+编程语言、智能化音视频 处理能力等AI技术产品，从而提升服务价值，拓展应用场景。公司的核心优势在于一体化MPaaS技术， 多年的技术积累使公司自主拥有支撑一站式场景化音视频解决方案的关键技术，包括音视频技术、低代 码平台、AI能力等。伴随AIGC技术融入，公司将专注多模态大模型，结合场景化开发赋能APaaS业 务，匹配客户需求。此外，公司预计将加快海外业务拓展，提升国际市场占有率。 智通财经APP获悉，七牛智能(02567)再涨超8%，截至发稿，涨7.73%，报47.1港元，成交额4433.13万港 元。 智通财经APP在《换道AI后，看七牛智能（02567）领涨48.8%背后的战略升维》指出，得益于公司较早 上线的MCP托管服务，并针对用户需求提供多个模型效果的中立对比，今年7月，七牛智能AI大模型用 户量成功突破10000人，验证了其技术路线的市场吸引力，也标志着公司换道AI战略布局迎来新里程 碑。随着数字中国建设深入"深水区"，基础设施与应用端价值加速释放。政策强驱动、基建大投入、应 用快落地、产业高景气四重因素叠加，AI领 ...

七牛智能(02567)再涨超8%，截至发稿，涨7.73%，报47.1港元，成交额4433.13万港元。 智通财经APP在《换道AI后，看七牛智能(02567)领涨48.8%背后的战略升维》指出，得益于公司较早上 线的MCP托管服务，并针对用户需求提供多个模型效果的中立对比，今年7月，七牛智能AI大模型用户 量成功突破10000人，验证了其技术路线的市场吸引力，也标志着公司换道AI战略布局迎来新里程 （002219）碑。随着数字中国建设深入"深水区"，基础设施与应用端价值加速释放。政策强驱动、基建 大投入、应用快落地、产业高景气四重因素叠加，AI领域基本面确定性增强，相关标的行情空间可 期。在这一产业爆发前夜，凭借音视频+AI+云服务的三重基因，七牛智能有望站在新一轮技术革命的 前沿。 申万宏源发布研报称，七牛智能布局AI大语言模型推理服务、AI Agent、Go+编程语言、智能化音视频 处理能力等AI技术产品，从而提升服务价值，拓展应用场景。公司的核心优势在于一体化MPaaS技术， 多年的技术积累使公司自主拥有支撑一站式场景化音视频解决方案的关键技术，包括音视频技术、低代 码平台、AI能力等。伴随AIGC技术 ...

Group 1 - The Hang Seng Index fell by 0.18%, down 45 points, closing at 24,727 points, while the Hang Seng Tech Index decreased by 0.12% [1] - In the semiconductor sector, InnoSilicon became the only Chinese chip manufacturer included in NVIDIA's latest 800V architecture supplier list, leading to a more than 30% increase in InnoSilicon's stock [1] - The Ministry of Industry and Information Technology issued a special energy-saving inspection task list for the polysilicon industry, boosting the solar panel sector, with notable stock increases for companies like Kaisheng New Energy (up over 5%) and Fuyao Glass (up over 4%) [1] Group 2 - Stone Pharmaceutical Group's stock rose over 6% after announcing a more than $2 billion overseas business development deal [2] - Ruihe Smart's stock surged over 10% following a profit warning, with expected net profits for the first half of the year reaching up to 44 million yuan, marking a turnaround from losses [3] - Inspur Digital Enterprises' stock increased nearly 6%, reaching a new high, with expected net profits for the first half of the year up to 190 million yuan, supported by its parent company Inspur Group [4] Group 3 - Xirui's stock rose over 4%, reaching a new high, as institutions predict rapid growth in the private aviation market [5] - Qiniu Intelligent's stock increased by over 8%, with its AI model user base surpassing 10,000, marking a significant milestone in its AI strategy [6] - Tsugami Machine Tool's stock rose over 5%, with its Japanese division reporting a 38.1% year-on-year increase in profits for the first quarter [7] Group 4 - New Macau International Development's stock fell over 4%, with its subsidiary New Macau Borya reporting a nearly 20% year-on-year decline in net income for the second quarter [7] - Kintor Pharmaceutical's stock plummeted over 16% after the company announced a discounted placement of shares at an 18.75% discount, raising approximately 40.34 million Hong Kong dollars [7]

在政策与技术双轮驱动下，AI及相关赛道呈现"长坡厚雪"的广阔前景。 ·应用安全层：创新打造"AIGC内容安全一体化解决方案"，覆盖敏感信息识别至数据溯源全生命周期风 控，成为金融、医疗等高合规行业首选； ·场景赋能层：通过数字人营销AI Agent、广告内容自动生成等工具，提供一站式音视频内容营销闭环。 智通财经APP了解到，七牛智能的核心优势源于一体化MPaaS技术，而随着多年的音视频处理、低代码 平台与AI能力积累，使公司具备支撑复杂场景化音视频解决方案的核心竞争力。而随着AIGC技术的深 度融入，公司也正聚焦多模态大模型研发，通过场景化开发赋能APaaS业务。 近两个月，七牛智能（02567）以其48.8%的惊人涨幅（近五成）脱颖而出，不仅超越恒生指数同期 20.1%的涨幅，更跑赢港股人工智能板块的30.1%与AIGC概念板块的34.3%，成为港股科技股领涨标 杆。 在这背后，得益于公司较早上线的MCP托管服务，并针对用户需求提供多个模型效果的中立对比，今 年7月，七牛智能AI大模型用户量成功突破10000人，验证了其技术路线的市场吸引力，也标志着公司 换道AI战略布局迎来新里程碑。 领跑"AI+音视频 ...

(a) 本公司聯席公司秘書； 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倚賴該等內容而引致的任何損失承擔任何責任。 Qiniu Limited 七牛智能科技有限公司 （於英屬維爾京群島註冊成立並遷至開曼群島及於開曼群島存續的有限公司) (股份代號: 2567) 聯席公司秘書、授權代表及 法律程序文件代理人變更 七 牛 智 能 科 技 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，自2025年7月31 日起，梁君慧女士（「梁女士」）已獲委任接替已提呈辭任的何倩彤女士（「何女士」）， 以擔任以下職位： 張 袁 昊 先 生（「張先生」）將 繼 續 擔 任 本 公 司 的 另 一 名 聯 席 公 司 秘 書。 何 女 士 已 確 認，彼 與 董 事 會 並 無 意 見 分 歧，且 概 無 有 關 彼 辭 任 的 事 宜 須 提 請 聯 交所或本公司股東垂注。 – 1 – (b) 根 據 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）證 券 上 市 規 則（「上市規 ...

Core Viewpoint - Qiniu Intelligent is a leading provider of audio and video cloud services in China, focusing on MPaaS and APaaS solutions, with significant growth in revenue and customer base expected in the coming years [1][2][3] Company Overview - Qiniu Intelligent is recognized as the third-largest audio and video PaaS provider and the second-largest APaaS provider in China as of 2023 [1] - The company reported a revenue of 1.437 billion yuan for 2024, reflecting a year-on-year growth of 7.72% [1] - The adjusted net loss decreased from 150 million yuan in 2022 to 60.92 million yuan in 2023, a reduction of 59.3% [1] Business Segments - The company operates in both MPaaS and APaaS segments, leveraging over a decade of experience in audio and video cloud services [1] - APaaS revenue for 2024 is projected to be 354 million yuan, with a year-on-year growth of 25.8%, accounting for 24.6% of total revenue [1] Market Potential - The audio and video cloud service market in China is expected to grow from approximately 91.5 billion yuan in 2023 to 240.5 billion yuan by 2028, with a CAGR of 21.3% [2] - The PaaS market share is anticipated to increase from 24.9% in 2023 to 32.3% in 2028, with APaaS expected to grow from 2 billion yuan to 14.4 billion yuan, achieving a CAGR of 48.6% [2] Technological Advancements - The company emphasizes AI and computing power as core strategies, developing AI-driven products such as large language model inference services and intelligent audio-video processing capabilities [2] - Qiniu Intelligent possesses key technologies for one-stop scenario-based audio and video solutions, including audio-video technology, low-code platforms, and AI capabilities [2] Customer Base - As of 2023, the company has 2,597 paying APaaS customers, representing a year-on-year increase of 32.0%, with a customer retention rate of 87.9% [2] Future Outlook - The company plans to accelerate its overseas business expansion to increase its international market share [3] - Revenue projections for 2025-2027 are 1.7 billion, 2 billion, and 2.5 billion yuan respectively, with year-on-year growth rates of 18%, 20%, and 21% [3]

Investment Rating - The report initiates coverage with a "Buy" rating for the company, Qiniu Smart [2][7]. Core Insights - Qiniu Smart is a leading provider of audio and video cloud services in China, recognized as the third-largest PaaS and second-largest APaaS service provider in the country. The company has a strong market position and is expected to benefit from the growing demand in the audio and video cloud service market [6][17]. - The company is projected to achieve revenue growth from RMB 1.334 billion in 2023 to RMB 1.689 billion in 2025, with a compound annual growth rate (CAGR) of 18%. Adjusted net profit is expected to improve significantly from a loss of RMB 116 million in 2023 to a profit of RMB 25 million by 2027 [5][7]. - The report highlights the significant market potential for audio and video cloud services, with the market size expected to grow from RMB 915 billion in 2023 to RMB 2,405 billion by 2028, representing a CAGR of 21.3% [6][46]. Financial Data and Profit Forecast - Revenue projections for Qiniu Smart are as follows: RMB 1.334 billion in 2023, RMB 1.437 billion in 2024, RMB 1.689 billion in 2025, RMB 2.031 billion in 2026, and RMB 2.457 billion in 2027, with respective growth rates of 16%, 8%, 18%, 20%, and 21% [5][7]. - The adjusted net profit forecast indicates losses of RMB 116 million in 2023, RMB 127 million in 2024, a reduced loss of RMB 60 million in 2025, a break-even in 2026, and a profit of RMB 25 million in 2027 [5][7]. Market Space and Growth Drivers - The audio and video cloud service market in China is characterized by high growth potential, driven by advancements in network infrastructure and audio-video transmission technologies. The PaaS segment is expected to capture a larger market share, increasing from 24.9% in 2023 to 32.3% by 2028 [46][50]. - The APaaS market is anticipated to grow at a rapid pace, with projections indicating an increase from RMB 20 billion in 2023 to RMB 144 billion by 2028, achieving a CAGR of 48.6% [50][58]. Competitive Landscape - Qiniu Smart holds a market share of 5.8% in the audio and video PaaS market, ranking third among competitors. The competitive environment is described as relatively mild for independent PaaS providers, allowing for collaboration with IaaS service providers without direct competition [54][55]. - The APaaS market is slightly more concentrated, with Qiniu Smart capturing a 14.1% market share, ranking second among its peers [58][59]. Technology and Strategic Focus - The company emphasizes AI and computational power as core strategic elements, focusing on developing AI-driven products and enhancing service value through integrated MPaaS and APaaS solutions [6][40]. - Qiniu Smart's technology foundation includes audio-video technology, low-code platforms, and AI capabilities, which are expected to enhance its competitive edge in the market [6][40].