Core Insights - Company has demonstrated solid performance since its listing on June 30, 2025, with a revenue of 405 million RMB in the first half of 2025, reflecting a year-on-year growth of 20.2% [1] - The large model-related business has shown remarkable growth, with revenue increasing by 457% to nearly 100 million RMB [1] - AI chip sales reached 16.5 million units in the first half of the year, with cumulative shipments surpassing 100 million units [1] - The insurance business experienced explosive growth, soaring by 1386.8% [1] - In the "AI + healthcare" sector, revenue per customer increased by 116.2% year-on-year, indicating stability in core business areas [1] Industry Context - The recent release of the State Council's opinions on deepening the implementation of the "Artificial Intelligence +" initiative provides clear direction and strong momentum for the development of China's AI industry [1] - As a pioneer in the commercialization of AGI (Artificial General Intelligence), the company's strategic layout aligns closely with the guidelines of the "Artificial Intelligence +" initiative [1] - The company aims to actively respond to national calls and promote the deep integration of AI with various sectors such as healthcare, home, government, and transportation [1] - The inclusion in the Hong Kong Stock Connect reflects the market's high recognition of the company's value and presents new development opportunities [2] - The policy support from the "Artificial Intelligence +" initiative is expected to accelerate the company's AGI technology innovation and industrial implementation, marking a new chapter in high-quality development [2] - The company's inclusion in the Hong Kong Stock Connect will enhance stock liquidity and market attention, broadening financing channels [4]

Core Viewpoint - Yunzhisheng has been officially included in the Hong Kong Stock Connect list, enhancing its market visibility and liquidity, and providing broader access to mainland investors [1] Financial Performance - For the first half of 2025, Yunzhisheng reported revenue of 405 million RMB, reflecting a year-on-year growth of 20.2% [1] - Revenue from large model-related businesses surged by 457% to nearly 100 million RMB [1] - AI chip sales reached 16.5 million units in the first half of 2025, with cumulative shipments surpassing 100 million units [1] - The insurance business experienced a dramatic increase of 1386.8% year-on-year [1] - Revenue per customer in the "AI + healthcare" sector grew by 116.2% year-on-year [1] Technological Advancements - Yunzhisheng is investing heavily in R&D, optimizing its Atlas intelligent computing platform and enhancing its large model capabilities [2] - The company achieved significant breakthroughs in model efficiency, compressing model parameters to below 0.5 billion and developing high-performance, low-latency models [2] - The company has expanded its language model capabilities to cover multiple languages and dialects, improving communication efficiency in diverse environments [2] International and Regional Cooperation - Yunzhisheng has signed several cooperation agreements with governments and organizations in the South Pacific and ASEAN regions, establishing a strong foundation for market expansion [3] - The company has received multiple authoritative recognitions, maintaining its position as an industry leader [3] Strategic Alignment with National Policies - The recent release of the "Artificial Intelligence +" action plan by the State Council aligns with Yunzhisheng's strategic goals, providing new growth opportunities [4] - The inclusion in the Hong Kong Stock Connect reflects market recognition of Yunzhisheng's value and is expected to accelerate its AGI technology innovation and industrial application [4]

Core Insights - Yunzhisheng has been officially included in the Hong Kong Stock Connect list, enhancing its visibility and liquidity among mainland investors, which will broaden its financing channels [1] - The company reported a robust revenue growth of 20.2% year-on-year, reaching 405 million RMB in the first half of 2025, with significant contributions from its large model-related business, which surged by 457% to nearly 100 million RMB [1] - The company has made substantial investments in technology R&D, optimizing its AI models and achieving breakthroughs in model efficiency and performance [2] - Yunzhisheng has established strategic partnerships and collaborations in both domestic and international markets, laying a solid foundation for its expansion [3] - The recent government policies on AI development align with Yunzhisheng's strategic direction, providing new growth opportunities in various sectors [4] Financial Performance - Revenue for the first half of 2025 reached 405 million RMB, marking a year-on-year increase of 20.2% [1] - The large model-related business saw a remarkable growth of 457%, contributing nearly 100 million RMB to the total revenue [1] - AI chip sales reached 16.5 million units in the first half of 2025, with cumulative shipments surpassing 100 million units [1] Technology Development - The company has invested heavily in R&D, utilizing its self-developed Atlas computing platform to enhance its AI capabilities [2] - Significant advancements in model efficiency were achieved, with parameters compressed to below 0.5 billion, resulting in high-performance, low-latency models [2] - The company has developed multilingual models that improve communication efficiency across various languages and dialects [2] Strategic Partnerships - Yunzhisheng has signed multiple cooperation agreements with governments and organizations, including partnerships in the ASEAN region and domestic healthcare [3] - The company is actively involved in the development of national standards for large models and has received multiple industry recognitions [3] Industry Outlook - The recent release of the "Artificial Intelligence +" action plan by the State Council provides a strong impetus for the AI industry, aligning with Yunzhisheng's strategic initiatives [4] - The inclusion in the Hong Kong Stock Connect is seen as a recognition of the company's value and presents new opportunities for growth in the capital market [4]

Group 1 - The core viewpoint of the article highlights the strong performance of Yunzhisheng (09678.HK), the first AGI stock in Hong Kong, with its share price reaching a record high of 620 HKD and a market capitalization exceeding 44 billion HKD since its IPO on June 30, reflecting confidence in the AGI sector and the company's technological advancements [1][3]. Group 2 - The strong stock performance of Yunzhisheng is attributed to a combination of technical strength and capital market trust, with cornerstone investors like SenseTime and others contributing approximately 95.5 million HKD during the IPO, and an additional 45.6 million HKD raised through the full exercise of the over-allotment option [3]. - According to a report by Frost & Sullivan, Yunzhisheng ranks as the fourth largest AI solution provider in China by revenue for 2024, with the second highest growth rate among companies with annual revenues exceeding 500 million CNY, and it holds the third position in life AI solutions and fourth in medical AI services [3]. Group 3 - Yunzhisheng has established a comprehensive technology matrix over more than a decade, including large model technology, multimodal interaction, AI chips, and domain knowledge graphs, with its self-developed "Shanhai Model" being a core component that excels in various evaluations, particularly in the medical field [4]. - The "Shanhai Model" serves as an "engine" for intelligent applications across multiple fields, supporting solutions in smart cockpit applications for vehicles and achieving significant market presence with its "Fengniao" series AI voice chips [4]. Group 4 - The company employs a "large industry model + scenario-based intelligent agent" approach to convert technological value into industrial value, with products covering the entire chain in smart healthcare and deep collaborations with leading automotive companies in the smart cockpit sector [6]. - This closed-loop model of "technology foundation - scenario implementation - value feedback" is identified as the core competitive advantage of Yunzhisheng, positioning it as a typical example of the transition from technological innovation to industrial practice in China's AI sector [6].

Core Viewpoint - Yunzhisheng (09678) experienced a significant decline in stock price, dropping over 18% after previously reaching new highs in the past month, indicating a reversal in market sentiment [1] Group 1: Stock Performance - The stock opened high but fell sharply, with a current decline of 18.22%, trading at 610.5 HKD and a transaction volume of 120 million HKD [1] - Since the peak on September 1, the stock price has retraced by 27% [1] Group 2: Company Announcements - The Shanghai and Shenzhen Stock Exchanges announced that Yunzhisheng has been included in the Hong Kong Stock Connect eligible list, effective from September 8 [1] Group 3: Financial Performance - In the first half of the year, Yunzhisheng reported revenue of 405 million RMB, reflecting a year-on-year growth of 20.2% [1] - The company recorded a loss attributable to shareholders of 297 million RMB, which is an increase of 16.4% year-on-year [1] - The basic loss per share was reported at 4.28 RMB [1]

Core Viewpoint - Yunzhisheng (09678) experienced a significant decline in stock price, dropping over 18% after previously reaching new highs in the past month, indicating a potential reversal in market sentiment [1] Group 1: Stock Performance - The stock opened high but saw a downward trend, with a current price of 610.5 HKD, reflecting a 27% decline from the peak on September 1 [1] - The trading volume reached 120 million HKD, indicating active market participation despite the price drop [1] Group 2: Company Financials - In the first half of the year, Yunzhisheng reported revenues of 405 million RMB, representing a year-on-year growth of 20.2% [1] - The company recorded a loss attributable to shareholders of 297 million RMB, which is a 16.4% increase in losses compared to the previous year [1] - The basic loss per share was reported at 4.28 RMB [1] Group 3: Market Developments - Yunzhisheng was included in the Hong Kong Stock Connect list, effective from September 8, which may influence trading dynamics and investor interest [1]

Core Viewpoint - The company is focusing on expanding its business in the insurance sector, particularly in medical insurance, by leveraging its technological capabilities and deepening collaborations with leading insurance institutions [1][2]. Group 1: Business Strategy - The company is implementing a strategy to focus on key regions and deeply explore lighthouse clients, particularly in the medical insurance field [1]. - The company is actively exploring new sustainable business models and project opportunities [1]. Group 2: Insurance Business Development - The company has established significant partnerships with leading insurance institutions, enhancing its service models and expanding its business boundaries [2]. - A notable collaboration with a major property insurance company has led to the successful implementation of an intelligent medical review system, which has been recognized for its effective risk identification and review efficiency [2]. - In the first half of 2025, the company generated revenue of RMB 9.963 million from medical-related claims review services in the insurance industry, representing a substantial increase of 1386.8% compared to the same period in 2024 [2]. Group 3: Healthcare Sector Initiatives - The company signed a strategic cooperation framework agreement with the Guangxi Zhuang Autonomous Region Medical Security Bureau to promote the innovative application of artificial intelligence in medical security [3]. - The company aims to enhance the digitalization of medical security through AI technology and explore applications in the integration of medical, medical insurance, and pharmaceutical reforms [3]. Group 4: Project Opportunity Expansion - The company is focusing on two main areas for project expansion: integrating medical data processing capabilities with insurance risk control technology, and actively engaging in the field of medical insurance fund supervision [4]. - As the demand for specialized and intelligent regulatory technology grows, the company is well-positioned to leverage its cross-domain expertise to break into this area [4].

Core Viewpoint - The company is actively expanding its business in the insurance and healthcare sectors by leveraging advanced technology and strategic partnerships to enhance its service offerings and operational efficiency [1][2][3][4]. Group 1: Business Strategy - The company is focusing on key regions and deepening relationships with lighthouse clients, particularly in the healthcare insurance sector [1]. - The company is exploring new sustainable business models and project opportunities to drive growth [1]. Group 2: Insurance Business Development - The company is deepening cooperation with leading insurance institutions, particularly in the area of intelligent medical review, which has shown significant results [2]. - In 2025, the company achieved revenue of RMB 9.963 million from medical-related claims review services in the insurance industry, marking a substantial increase of 1386.8% compared to the same period in 2024 [2]. - A new cooperation agreement was signed in 2025 to extend services to additional areas of auto insurance claims risk control, indicating a deepening partnership with a major property insurance company [2]. Group 3: Healthcare Collaboration - The company signed a strategic cooperation framework agreement with the Guangxi Medical Security Bureau to promote the innovative application of artificial intelligence in healthcare [3]. - The collaboration aims to enhance the digitalization of medical security and explore AI applications in the integration of medical, medical insurance, and pharmaceutical sectors [3]. Group 4: Project Opportunity Expansion - The company is integrating its medical data processing capabilities and risk control technology to deepen its presence in the insurance claims risk control market [4]. - There is a growing demand for specialized and intelligent regulatory technology in the healthcare fund supervision sector, which the company aims to address with its cross-domain expertise [4].

（於中華人民共和國註冊成立的股份有限公司） 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，並明確表示概不就因本公告全部或任何部分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。 UNISOUND AI TECHNOLOGY CO., LTD. 雲知聲智能科技股份有限公司 2 （股份代號：9678） 自願性公告 最新業務進展 本公告乃由雲知聲智能科技股份有限公司（「本公司」）自願作出，旨在知會本公司股東 及潛在投資者有關本公司的最新業務發展情況。 在業務領域上，本公司持續貫徹立足重點區域、深挖燈塔客戶的策略，在醫療保險領域 深入挖掘並拓展邊界；在經營策略上，本公司大力嘗試新的可持續商業模式並積極探 索新型項目機會。 在保險業務領域，本公司憑藉成熟的技術能力與豐富的行業經驗，持續深化與頭部保 險機構的合作，並積極拓展業務邊界與服務模式，為業務規模化發展奠定堅實基礎。其 中，與某頭部財產保險公司（「該財險公司」）的合作成果尤為顯著。繼2024年雙方在智能 醫療審核項目上達成深度合作，成功完成系統在全國範圍內的推廣上線後，該系統憑藉 精準的風險 ...

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8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: 雲知聲智能科技股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年9月4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) | 09678 | 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 | | | 41,621,883 | RMB | | 1 RMB | | 41,621,883 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 41,621,883 | RMB | | 1 RMB | | 41,621,883 | | 2. 股份分類 ...