Core Insights - Baidang Co., Ltd. has launched an innovative Group Tax Compliance Insight Platform aimed at transforming tax compliance management from a passive response to a proactive, systematic approach [1] - The platform focuses on "data unification, risk preemption, and closed-loop governance," enabling enterprises to establish a compliance hub suitable for the era of "data-driven tax management" [1] Group-Level Insights - The platform provides a comprehensive "compliance panorama" for management, allowing them to visualize overall tax risk distribution, credit rating changes, risk concentration, and declaration progress [1] - This visualization helps management quickly identify key risk areas and allocate resources proactively rather than reactively [1] Member Unit-Level Insights - At the member unit level, the platform functions as a dynamic "tax health report," enabling self-checks based on tax numbers and monitoring abnormal indicators, pending declarations, and historical rectifications [2] - Compliance becomes a sustainable action integrated into daily operations rather than a one-time task [2] Risk Management Features - The platform includes a risk model and indicator system covering multiple dimensions such as invoices, declarations, finance, and business operations, continuously scanning and scoring tax-related data [2] - It automatically triggers alerts based on risk levels and generates corresponding action tasks, providing a detailed risk anomaly display panel for both groups and member units [2] Intelligent Assistance - The platform incorporates Baidang's intelligent assistant product matrix, which aids tax personnel by providing targeted verification suggestions and response directions based on historical data and regulatory changes [2] - Feedback indicates that the platform has significantly reduced risk identification time from 7 days to real-time and decreased query response time from 36 hours to under 4 hours, while also reducing average workload by 60% and annual tax loss by over 800,000 yuan [2] Comprehensive Solution - The Group Tax Compliance Insight Platform serves as an intelligent BI display for compliance management and integrates tax data services, risk governance capabilities, and AI decision-making into a comprehensive solution [3] - It enables enterprises to see earlier, think deeper, and act more steadily in tax compliance management, transforming it into a long-term operational capability [3]

Core Insights - The 2025 Annual ESG Value Awards Ceremony was held in Hong Kong, recognizing outstanding ESG performance among listed companies and leaders in the region [1][4] - Baiwang Technology (百望股份) won the "Outstanding ESG Investment Value Listed Company" award, highlighting its strong ESG practices [4] - The event aimed to establish industry benchmarks and provide important ESG investment reference points for the Hong Kong capital market [4] Company Performance - Baiwang Technology is transitioning from a traditional "tax tool provider" to a "data asset operation platform," leveraging its unique data asset barriers [5] - The company has processed over 10.55 trillion yuan in invoice transaction amounts and handled 23.1 billion invoices, serving 90.7 million taxpayer identification numbers [5] - In the first half of 2025, Baiwang Technology achieved a revenue of 348 million yuan, a year-on-year increase of 23.5%, and recorded a net profit of 3.6 million yuan, marking a historic turnaround [5] Market Positioning - The current market valuation for typical SaaS companies does not reflect the growth potential of Baiwang Technology's data asset operations [6] - The company has launched a product matrix covering transaction management, financial services, and business decision-making, demonstrating strong commercial value across various verticals [6] - Baiwang Technology's business model is evolving from SaaS to DaaS (Data as a Service) and MaaS (Model as a Service), which is central to its "tenfold stock" logic [6] Global Strategy and ESG Integration - The official operation of its wholly-owned subsidiary in Hong Kong marks the start of a global strategy, aiming to export China's digital transformation experience to emerging economies [7] - Baiwang Technology integrates ESG practices with business development, creating a model where commercial and social values coexist [7] - The company has embedded AI ethics review throughout its product lifecycle, establishing a comprehensive data security and AI ethics governance system [7] Future Outlook - With the acceleration of AI agent implementation, Baiwang Technology is positioned as a potential value dark horse in the capital market, focusing on data asset operations [8]

Group 1 - The core viewpoint of the news is the collaboration between Baiwang Co., Ltd. and Ant Group's Ant Data Science, aiming to integrate their strengths to innovate in AI and data utilization, creating a new paradigm for "data intelligent infrastructure" in the AI era [1][2] - Baiwang Co., Ltd. has processed over 23.1 billion transaction vouchers and accumulated data exceeding one quadrillion, serving 28.5 million enterprise clients across various scenarios [1] - The partnership will initially focus on intelligent risk control, leveraging Ant Data Science's risk control intelligent agent technology to enhance Baiwang's risk control products from "experience-driven" to "intelligent generation" [1] Group 2 - The collaboration will elevate Baiwang's intelligent platform from the 1.0 stage of "data aggregation and governance" to the 2.0 stage of "data intelligence with financial-grade reliability and business understanding" [2] - Ant Data Science, a subsidiary of Ant Group, specializes in enterprise-level AI and Web3 services, with its Agentar platform recognized as a leader in intelligent agent development by IDC [2] - Ant Data Science has launched over 100 intelligent joint solutions in core business scenarios such as risk control, marketing, and data analysis, facilitating the large-scale application of large models in the industry [2]

Core Insights - The collaboration between Baiwang Co., Ltd. and Ant Group's Ant Financial Technology aims to integrate their core strengths to promote the deep fusion and innovative application of large model technology and massive data, accelerating the release of data value and creating a new paradigm for "data intelligent infrastructure" in the AI era [1][2] Company Overview - Baiwang Co., Ltd. is a leading data intelligence service provider in China, having processed over 23.1 billion transaction vouchers and accumulated data exceeding one quadrillion, serving 28.5 million enterprise customers across diverse scenarios [1] - Baiwang has established a comprehensive product system covering intelligent finance and taxation, intelligent risk control, intelligent decision-making, and intelligent marketing, providing full support for enterprise digital transformation [1] Focus of Collaboration - The partnership will initially focus on intelligent risk control scenarios, leveraging Ant Financial Technology's risk control intelligent agent technology to transition Baiwang's intelligent risk control products from "experience-driven" to "intelligent generation" [1] - Ant Financial Technology's risk feature intelligent agent can assist human experts in mining high-value features from massive data, addressing pain points of traditional models that heavily rely on expert experience, long accumulation cycles, and high trial-and-error costs, achieving a model performance improvement of up to 32% [1] Technological Advancements - Ant Financial Technology's risk modeling intelligent agent can autonomously construct modeling processes based on large model intent recognition and task planning capabilities, reducing modeling time by 30% and achieving modeling results comparable to human experts with minimal instructions [1][2] - This collaboration will elevate Baiwang's intelligent platform from the 1.0 stage of "data aggregation and governance" to the 2.0 stage of "data intelligence autonomous generation with financial-grade reliability and business understanding," enhancing operational efficiency and providing more precise and efficient intelligent support for clients in compliance, risk control, and business decision-making [2]

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 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 百望股份有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06657 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 90,842,048 | RMB | | 1 | RMB | | 90,842,048 | | 增加 / 減少 (-) | | | 135,064,706 | | | | RMB | | 135,064,706 | | 本月底結存 | | | 225,906,754 | RMB | | 1 | RMB | | 225,906,75 ...

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分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。 BAIWANG CO., LTD. 百望股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 有關可換股貸款協議之關連交易的進一步進展 緒 言 茲 提 述 百 望 股 份 有 限 公 司（「本公司」）日 期 為2024年11月17日 及2025年12月 3日 的 公 告（「該等公告」），內 容 有 關 本 公 司 與 環 球 智 鏈 及 百 望 雲 海 外 訂 立 可 換 股 貸 款 協 議 及 延 長 本 公 司 行 使 轉 股 選 擇 權 的 期 限。除 非 另 有 定 義， 本 公 告 所 用 詞 彙 與 該 等 公 告 所 界 定 者 具 有 相 同 涵 義。 可換股貸款協議的進一步進展 董 事 會 謹 此 宣 佈，於2025年12月31日（交 易 時 段 後），本 公 司 與 環 球 智 ...

Core Insights - RegtechCloud has signed a multi-million dollar contract for a national electronic invoicing system project in Laos, marking a significant step in the export of China's tax governance model to Southeast Asia [1][8] - The project aims to enhance tax collection and management in Laos by leveraging China's successful tax governance practices, particularly the Golden Tax Project [3][5] Group 1: Project Overview - The electronic invoicing system will cover a pilot phase and nationwide rollout, providing at least five years of ongoing service [1] - The first invoice was successfully issued during the pilot phase, witnessed by the Minister of Finance of Laos, and will be promoted to taxpayer enterprises [1][3] Group 2: Tax Governance Framework - The project replicates China's advanced tax governance framework, which has proven to be effective in managing tax collection and compliance [5][6] - It aims to formalize the informal economy by enabling market participants to register and access electronic invoicing services [3][5] Group 3: Benefits to Laos - The system is expected to expand the tax base by integrating large enterprises and numerous small and micro enterprises into the electronic invoicing service [3][5] - It will increase tax revenue through real-time data collection and automated invoice verification, enhancing compliance and reducing tax fraud [3][6] Group 4: Technological Integration - The AInvoiceX smart hardware, developed by RegtechCloud, seamlessly integrates with local SaaS systems, enhancing operational efficiency [7] - The AI-driven technology automates order processing and invoice generation, significantly improving invoicing efficiency by 80% [7] Group 5: Future Prospects - RegtechCloud aims to continue exporting China's governance best practices globally, contributing to the digital transformation of tax systems in various countries [8][9] - The company is positioned to become a global leader in regulatory technology, with operations in over 20 countries [9]

Core Viewpoint - The collaboration between Baiwang Co., Ltd. and DingTalk to launch the "Baiwang Tax Xiaozhi" product represents a significant step in the digital economy, focusing on the concept of "transaction ontology" as a foundational principle for establishing a credible and accountable digital economy [1][3]. Group 1: Partnership and Product Launch - Baiwang Co., Ltd. has partnered with DingTalk to introduce the "Baiwang Tax Xiaozhi," which serves as an intelligent tax risk management assistant on the DingTalk platform [1][2]. - The product leverages Baiwang's extensive tax data and risk control models to provide systematic risk scanning, intelligent tax reports, and expert interpretations for enterprises [2]. Group 2: Theoretical Framework - Baiwang's "transaction ontology" aims to redefine the fundamental unit of the digital economy, emphasizing that transactions, rather than data, are the essential elements that can generate accountability and consequences [2][3]. - The collaboration signifies a transition from a worldview to a methodology, positioning transactions as the core of economic participation, thus transforming intelligence from merely an analytical tool to an active economic agent [3]. Group 3: Strategic Vision - Baiwang is not just a financial software provider; it is building an intelligent economic infrastructure centered around transactions, reflecting a shift in its value positioning from a technology platform to a facilitator of institutional relationships [3]. - The company believes that in the next phase of the digital economy, controlling real, auditable, and institutionally recognized entities will be key to gaining trust and driving future growth [3].

Group 1 - The "Annual Outstanding PR Team" award recognizes PR teams that have made significant contributions to brand image maintenance and industry public relations governance [4] - The award aims to highlight the importance of effective communication in enhancing market vitality and confidence [4] - The selection process involved quantitative data analysis and expert review to determine the final results [4] Group 2 - The "Golden Grid Award" aims to create a reference list of the most valuable listed companies and unicorns in the investment community [4] - The evaluation covers all listed companies on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, American Stock Exchange, and NASDAQ [4] - Ten companies, including 361 Degrees, Anta Sports, Yum China, and others, were awarded the "Annual Outstanding PR Team" award [1][4]

Group 1 - The event "Technology Empowerment, Capital Breakthrough" was held online by Gelonghui on December 22, where the annual outstanding company awards were announced [1] - The "Golden Gelong Award" recognized ten companies for their "Outstanding PR Team of the Year," including 361 Degrees, Anta Sports, Yum China, Baiwang, Hehe Information, Jitu Express, Jianshi Technology, Shanghai Jahwa, Yadea Holdings, and Yika [1] - The award aims to honor PR teams that have made significant contributions to brand image maintenance and industry public relations governance, highlighting the importance of effective communication in enhancing market vitality and confidence [1] Group 2 - Gelonghui's evaluation aims to create a reference list of the most valuable listed companies and unicorns in the investment circle, covering all listed companies on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, American Stock Exchange, and NASDAQ [2]