Core Insights - The company is accelerating its "One Foundation, Two Wings" technology strategy amid the rise of intelligent agents, recently launching the "ShanHai.ZhiYin" model 2.0 after upgrading the "ShanHai.ZhiYi" 5.0 medical model [1] Group 1: Model Capabilities - The "ShanHai.ZhiYin" model 2.0 focuses on three major capability evolutions: understanding professional and local dialects, expressing warmth and emotional connection, and achieving extreme responsiveness [1] - In terms of "understanding," the model's ASR (Automatic Speech Recognition) capabilities have demonstrated leading performance in both public test sets and proprietary full-scenario test sets, surpassing mainstream domestic open-source and closed-source speech models, reaching the highest industry standards [1] - For the "expression" aspect, the ShanHai.ZhiYin-TTS (Text-to-Speech) features a "highly human-like and creatively diverse" core, currently supporting 12 dialects (including Cantonese, Sichuanese, and Shanghainese) and 10 foreign languages, with the ability to switch between 12 styles of Mandarin [1] - The model also overcomes challenges in smooth full-duplex interaction, enabling real-time interruptions, immediate responses, and coherent follow-up questions, making human-machine dialogue as fluid as conversations between close friends [1] Group 2: Technological Foundation - The capabilities of the ShanHai.ZhiYin 2.0 model are underpinned by the company's proprietary "ShanHai.Atlas" intelligent computing foundation, which deeply integrates the general multimodal model base with the Atlas architecture, serving as the foundation for professional intelligent agents and the core of perceptual AI [1]

Group 1 - The company has signed a cooperation agreement with the Guangxi Zhuang Autonomous Region government to establish a China-ASEAN AI Application Cooperation Center, leveraging Guangxi's unique advantages to create a cross-border industrial ecosystem [1] - This cooperation marks the company's first strategic partnership with a provincial-level government, indicating recognition of its core AI technology capabilities and industry experience [1] - The collaboration aims to form a sustainable and replicable business synergy mechanism at the regional level, laying the foundation for scalable implementation across multiple scenarios and departments [1] Group 2 - The company has established a wholly-owned subsidiary, Yunzhisheng (Guangxi) Intelligent Technology Co., Ltd., in Nanning, Guangxi, which will serve as the ASEAN headquarters [2] - The focus will be on "AI + healthcare," integrating advanced technologies and high-end talent from major cities to create a comprehensive smart healthcare system [2] - The company has successfully won the first provincial-level medical insurance model project in Jiangsu, which includes core aspects such as model construction and knowledge base development [2] Group 3 - The company will actively promote resource sharing and technology exchange with ASEAN enterprises from its base in Guangxi, enhancing its brand influence internationally [3]

Group 1 - The company has signed a cooperation agreement with the Guangxi Zhuang Autonomous Region government to establish a China-ASEAN Artificial Intelligence Application Cooperation Center, leveraging Guangxi's unique geographical advantages and mature policy and industrial platforms [1] - This cooperation marks the company's first strategic partnership with a provincial-level government, indicating recognition of its core AI technology capabilities and industry experience [1] - The collaboration aims to create a sustainable and replicable business synergy mechanism at the regional level, laying the foundation for scalable implementation across multiple scenarios and departments [1] Group 2 - The company has established a wholly-owned subsidiary, Yunzhisheng (Guangxi) Intelligent Technology Co., Ltd., in Nanning, Guangxi, which will serve as the ASEAN headquarters [2] - The focus will be on "AI + healthcare," integrating advanced technologies and high-end talent from major cities to develop a comprehensive smart healthcare system covering clinical services, insurance settlement, and regulatory oversight [2] - The company has successfully won the Jiangsu Provincial Medical Insurance Model Project, marking a significant achievement in the healthcare sector and establishing a solid foundation for rapid business implementation in Guangxi [2] Group 3 - The company will actively promote resource sharing and technical exchanges with ASEAN enterprises from its base in Guangxi, providing critical support for expanding into overseas markets [3] - This initiative aims to enhance the company's brand influence internationally [3]

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。 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） UNISOUND AI TECHNOLOGY CO., LTD. （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。 近日，本公司與廣西壯族自治區（「廣西」）人民政府簽訂合作協議，共同建設中國 — 東 盟國家人工智能應用合作中心，借力廣西獨特的區位優勢、成熟的政策與產業平台，構 建「北上廣研發+廣西集成+東盟應用」的跨境產業生態。本公司將立足廣西、面向東盟， 發揮本公司在技術、人才、資源和場景等方面的優勢，打造人工智能創新高地。 本次合作系本公司首次與省級（自治區級）人民政府建立戰略合作關係，標誌著本公司人 工智能核心技術能力、行業落地經驗及品牌影響力已獲得省級（自治區級）政府層面的系 統性認可。該等合作有助於本公 ...

雲知聲智能科技股份有限公司 公司章程 二零二六年一月修訂 | | | | 第一章 | 總則 | 1 | | --- | --- | --- | | 第二章 | 經營宗旨及範圍 | 3 | | 第三章 | 股份 | 4 | | 第四章 | 股份增減和回購 | 8 | | 第五章 | 股東名冊 | 10 | | 第六章 | 股東的權利和義務 | 12 | | 第七章 | 股東會 | 16 | | 第八章 | 董事會 | 33 | | 第九章 | 董事會秘書 | 45 | | 第十章 | 總經理及其他高級管理人員 | 46 | | 第十一章 | 財務會計制度與利潤分配和審計 | 48 | | 第十二章 | 合併、分立、增資、減資、解散和清算 | 52 | | 第十三章 | 修改章程 | 58 | | 第十四章 | 通知 | 59 | | 第十五章 | 附則 | 60 | 第一章 總 則 公 司 系 由 北 京 雲 知 聲 信 息 技 術 有 限 公 司（以 下 簡 稱「雲 知 聲 有 限」）整 體 變 更 發 起 設 立 的 股 份 有 限 公 司，在 北 京 市 工 商 行 政 管 理局海淀分局註冊登記，取得營業 ...

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： 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： 2026年1月22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 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09678 | 說明 | H股 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | 事件 | | ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：9678） 完成根據一般授權配售新H股 及 修訂《公司章程》 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。 本公告僅供參考，並不構成收購、購買或認購任何證券的邀請或要約，亦並非擬用作邀請提出相關要約或邀請。 本公告或其任何副本概不得直接或間接帶入美國或於美國（包括其領土及屬地、美國任何州及哥倫比亞特區）派 發。尤其是，本公告並不構成亦並非在美國或其他地方出售證券的要約或招攬購買或認購證券的任何要約。除非 已根據1933年美國證券法（經修訂）登記或獲豁免登記，否則證券不得在美國提呈發售或出售。於美國進行的任何 證券公開發售將僅以招股章程的方式進行，該招股章程可向發行人或出售證券持有人取得，並載有發行人及管理 層的詳細資料以及財務資料。本公司無意於美國公開發售本公告所述證券。 UNISOUND AI TECHNOLOGY CO., LTD. 雲知聲智能科技股份有限公司 獨家整體協調人及獨家配售代理 ...

Core Viewpoint - Cloud Wisdom is facing significant financial challenges, necessitating a capital raise shortly after its IPO, with a focus on enhancing R&D and exploring new business opportunities while grappling with increasing losses and cash flow issues [1][2][3]. Fundraising and Financial Situation - The company announced a placement of 780,000 new H-shares at HKD 252 each, a 16% discount from the previous closing price, aiming to raise approximately HKD 192 million [1][2]. - The net proceeds will be allocated as follows: 50% for R&D enhancement, 40% for investing in emerging business opportunities, and 10% for working capital [2][9]. - As of the end of 2024, the company's cash reserves were only HKD 156 million, while it reported a net loss of HKD 454 million for the year, indicating a cash runway of only about four months at the current burn rate [2][3]. Revenue and Loss Trends - From 2022 to 2024, the company's revenue grew from HKD 601 million to HKD 939 million, but net losses increased from HKD 366 million to HKD 454 million, totaling over HKD 1.2 billion in cumulative losses [3][4]. - High R&D expenditures, which accounted for 30%-40% of revenue during this period, have significantly contributed to the losses [4][5]. Customer Growth and Retention Issues - Customer growth has stagnated, with the number of clients in the AI life sector increasing marginally from 373 to 411 and in the medical AI sector from 165 to 166 over three years [4][5]. - The retention rate for medical clients has declined sharply, dropping from 70.4% in 2022 to 53.3% in 2024, indicating a concerning trend in customer loyalty [4][5]. Market Position and Competition - Cloud Wisdom is the fourth largest AI solution provider in China by revenue, holding a mere 0.6% market share, while the top three competitors command significantly larger shares [6][19]. - The company faces intense competition from major players like Baidu and Alibaba in the smart living sector and from iFlytek in the medical AI space [20]. Strategic Adjustments and Future Prospects - The recent fundraising reflects a strategic shift towards balancing R&D with commercial viability, contrasting with previous funding focuses on vertical projects [9][22]. - The company is attempting to establish a foothold in the AI medical sector, having launched a new medical model that has shown promising results in evaluations [11][24]. - Regulatory support for AI in healthcare is increasing, which may provide new opportunities for growth [24]. Market Sentiment and Valuation - The stock price has significantly declined from a peak of HKD 319.80 to HKD 252, with market capitalization dropping from over HKD 600 billion to around HKD 200 billion [25][26]. - Analysts have given a "buy" rating with a target price of HKD 451.33, predicting over 35% revenue growth from 2025 to 2027, but caution that the company must improve its profitability to maintain investor confidence [24][25].

Core Viewpoint - CloudWalk Technology Co., Ltd. (stock code: 9678) announced a placement agreement to issue 780,000 new H-shares at a price of HKD 252.00 per share, aiming to raise approximately HKD 192 million for various purposes, including R&D and new business opportunities [2]. Group 1: Placement Details - The placement shares represent approximately 1.87% of the total issued H-shares and about 1.10% of the total issued shares as of the announcement date [2]. - The net proceeds from the placement will be allocated as follows: approximately 50% for enhancing R&D capabilities, around 40% for investing in emerging business opportunities, and 10% for working capital and general corporate purposes [2]. Group 2: Market Impact - Following the announcement of the placement, CloudWalk's stock price fell by over 4%, with the current stock price at HKD 288, resulting in a market capitalization of HKD 20.474 billion [3]. - CloudWalk was listed on the Hong Kong Stock Exchange in June 2025, with an initial offering price of HKD 205 and a net fundraising amount of HKD 206 million [4]. Group 3: Cornerstone Investors - The cornerstone investors in CloudWalk's listing include SensePower, Zhenyi Asset Management, and Runjian International, with investments of HKD 43.698 million, HKD 30 million, and RMB 20 million respectively [5]. - The total number of shares subscribed by cornerstone investors amounts to 462,860, representing approximately 29.65% of the placement shares [5].

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。 本公告僅供參考，並不構成收購、購買或認購任何證券的邀請或要約，亦並非擬用作邀請提出相關要約或邀請。 本公告或其任何副本概不得直接或間接帶入美國或於美國（包括其領土及屬地、美國任何州及哥倫比亞特區）派 發。尤其是，本公告並不構成亦並非在美國或其他地方出售證券的要約或招攬購買或認購證券的任何要約。除非 已根據1933年美國證券法（經修訂）登記或獲豁免登記，否則證券不得在美國提呈發售或出售。於美國進行的任何 證券公開發售將僅以招股章程的方式進行，該招股章程可向發行人或出售證券持有人取得，並載有發行人及管理 層的詳細資料以及財務資料。本公司無意於美國公開發售本公告所述證券。 UNISOUND AI TECHNOLOGY CO., LTD. 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） （股份代號：9678） 根據一般授權配售新H股 獨家整體協調人及獨家配售代理 董事會欣然宣佈，於2026 ...