1 法律意见书 二零二三年八月 北京观韬中茂（杭州）律师事务所 关于恒生电子股份有限公司 t ( 11 2022 年股 计划 第一个行权期行权条件成就、调整股票期权行权价格 及注销部分已授予股票期权事项 的 目 录 | 日 来 | | --- | | 释义 | | 第一节 本所律师声明事项 . | | 第二节 正文 . | | 一、 本次行权、本次调整及本次注销的批准和授权………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 6 | | 二、 本次行权的情况 . | | 三、 本次激励计划调整的相关情况……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 10 | | 四、 本次注销的情况 | | 五、结论意见 . | 2 释义 除非本法律意见书另有所指，否则下列词语具有如下含义: | 恒生电子、公司 | 指 | 恒生电子股份有限公司 | | --- ...

恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 编号：2023-054 恒生电子股份有限公司 关于变更公司住所并修订公司章程的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 恒生电子股份有限公司 2023 年 8 月 26 日 恒生电子股份有限公司（以下简称"恒生电子"或"公司"）于 2023 年 8 月 24 日召开了第八届董事会第十次会议，审议并通过了《关于变更公司住所及 修订<公司章程>的议案》，具体修改如下： | 条文 | 公司章程原条文 | 修订后的条文 | | --- | --- | --- | | 序号 | | | | | 公司住所：杭州市滨江区江南大道 3588 号恒 | 公司住所：杭州市滨江区江南大道 3588 号 | | 5 | 生大厦 11 层 | 2 幢 11 层 | | | 邮政编码：310053 | 邮政编码：310053 | 除以上修订内容外，《公司章程》其他条款不变。本议案尚需提交公司 2023 年第一次临时股东大会审议，同时提请股东大会授权公司管理层办理本次变更住 所 ...

恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 编号：2023-044 恒生电子股份有限公司（以下简称"公司"）拟于 2023 年 8 月 26 日在上 海证券交易所网站（www.sse.com.cn）披露公司 2023 年半年度报告。为了增强 与投资者的交流，方便投资者更好理解公司发展规划及 2023 年半年度报告相关 内容，公司拟以网络直播形式召开 2023 年半年度业绩说明会。现将相关事宜公 告如下： 一、 业绩说明会类型 业绩说明会通过网络直播方式召开，公司将针对 2023 年半年度业绩和经营 情况与投资者进行交流，并对投资者普遍关注的问题进行回答。 二、 业绩说明会召开的时间、地点 会议召开时间：2023年8月30日（星期三）15:00-16:00 业绩说明会召开方式：网络直播。 网络直播地址：https://live.polyv.cn/watch/4188436 (一) 会议召开时间：2023 年 8 月 30 日 15:00-16:00 (二) 会议召开方式：网络直播 (三) 网络直播地址：恒生 U+直播平台，投资者可通过以下两种方式观看并参 与互动。 ① 点击下方链接，直接 ...

恒生电子股份有限公司 恒生电子股份有限公司（以下简称"恒生电子"或"公司"）于 2023 年 6 月 27 日召开了第八届董事会第九次会议，审议并通过了《关于以集中竞价交易方 式回购公司股份的方案》，公司拟使用不低于人民币 5,000 万元（含），不超过人 民币 10,000 万元（含）的自有资金回购公司股票。有关本次回购股份事项的具 体情况请见公司于 2023 年 6 月 28 日披露的《关于以集中竞价交易方式回购公司 股份方案的公告》（公告编号：2023-030）。 证券代码：600570 证券简称： 恒生电子 编号：2023-043 恒生电子股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 自 2023 年 8 月 1 日至本公告披露之日，公司通过集中竞价交易方式已累 计回购股份 209,200 股，占公司总股本的比例为 0.0110%，购买的最低价为 39.68 元/股、最高价为 42.87 元/股，支付的金额为 8,539,119.00 元（不含交 易费用）。 ...

Financial Performance - The company achieved a net profit of CNY 1,030,126,214.29 for the year 2022, with a proposed cash dividend of CNY 1.30 per 10 shares, totaling CNY 246,828,639.85[6]. - Operating revenue for 2022 was CNY 6,502,387,143.49, representing an 18.30% increase compared to CNY 5,496,578,624.88 in 2021[21]. - The net profit attributable to shareholders decreased by 25.45% to CNY 1,091,088,379.58 from CNY 1,463,538,930.14 in the previous year[21]. - The net assets attributable to shareholders increased by 19.61% to CNY 6,811,761,050.50 at the end of 2022, compared to CNY 5,695,031,051.05 at the end of 2021[22]. - The total assets of the company rose by 7.65% to CNY 13,004,578,298.67 at the end of 2022, up from CNY 12,079,908,312.76 in 2021[22]. - The cash flow generated from operating activities was CNY 1,138,192,779.96, an increase of 18.96% from CNY 956,789,306.14 in 2021[21]. - The company's revenue increased by 18.3% year-on-year, driven by opportunities from the digital transformation in the financial industry[31]. - Total revenue for the year 2022 reached CNY 6,497,599,111.75, representing an 18.31% increase year-over-year[57]. - Gross profit margin improved to 73.56%, with a year-over-year increase of 0.58 percentage points[57]. Research and Development - Research and development expenses totaled RMB 2.346 billion, accounting for 36.08% of total revenue[34]. - The company has 7,016 R&D personnel, representing 52.07% of its total workforce, indicating a strong focus on innovation[34]. - The company is actively exploring AI technologies, including deep learning and NLP, to enhance business value across various sectors[34]. - The company has established a three-tier R&D structure, including a research institute and technology platform, and maintains a high level of R&D investment to keep pace with emerging technologies like AI and blockchain[100]. - The company invested 100 million RMB in research and development for new technologies[114]. - The R&D budget has been increased by H%, focusing on developing cutting-edge technologies and improving existing products[117]. Market and Product Development - The company has developed new technology platforms, including UF3.0 and Light, aimed at enhancing operational efficiency and digital transformation in the financial sector[13]. - Core products such as UF3.0 and O45 have successfully expanded to multiple clients, maintaining market and technological leadership[31]. - The company completed the adaptation of over 70 products for domestic innovation, enhancing its competitive edge in the market[31]. - The company has successfully launched new products in the retail IT sector, including personal pension services for seven major clients and commercial pension services for five pilot institutions[43]. - The company aims to become a leading one-stop financial technology solution provider, leveraging its 28 years of operational experience to enhance brand influence and customer recognition[52]. - New product launches are expected to contribute an additional 200 million RMB in revenue in the upcoming year[114]. - New product launches are anticipated to contribute an additional D% to revenue, with a focus on innovative technology solutions[118]. Corporate Governance and Management - The board of directors consists of 11 members, including 4 independent directors with expertise in accounting, finance, and law, ensuring compliance with legal requirements[104]. - The company held 4 shareholder meetings during the reporting period, ensuring transparent communication and equal treatment of all shareholders[102]. - The company has implemented an employee stock ownership plan and stock option incentive plan to align employee interests with company performance[106]. - The company has established specialized committees within the board to enhance decision-making processes and reduce operational risks[104]. - The company is focusing on expanding its employee stock ownership plan and stock option incentive plan to enhance employee engagement[129]. - The company is actively expanding its board with new appointments, indicating a strategic focus on governance and leadership[121]. Financial Management and Investments - The company has made a significant equity investment of CNY 4,500,000 in Hangzhou Weihong Technology Co., Ltd., holding a 9.5745% stake[75]. - The company adjusted its investment strategy to focus on post-merger management and integration, enhancing product line layout through subsidiaries[75]. - The company has established an industrial fund to expand its upstream and downstream layout through cooperation with external capital[75]. - The company has entrusted wealth management with a total amount of CNY 39.71 million in bank financial products and CNY 27.41 million in other financial products[168]. - The company reported a significant loss of RMB 112.3 million from fair value changes of financial assets in 2022[26]. - The company has repurchased 2,497,957 shares as part of its buyback plan, which is intended for employee stock ownership plans[184]. Risk Management - There are no significant risks or violations reported regarding the decision-making process for external guarantees or fund occupation by controlling shareholders[9]. - The company faces risks including talent attrition, market competition, and challenges in technological innovation[99]. - The company is focused on building a unified risk management platform to transition from passive to proactive risk management[90]. - The company has implemented various internal controls to ensure the accuracy of financial reporting and compliance with accounting standards[196]. Corporate Social Responsibility - The company is committed to corporate social responsibility and sustainable development, adhering to its core values of customer focus and integrity[102]. - The company invested 208.84 million CNY in environmental protection during the reporting period[150]. - The company implemented carbon reduction measures that resulted in a decrease of 3,411 tons of CO2 equivalent emissions[153]. - The company made a total donation of 1.2611 million CNY to various public welfare projects, benefiting 1,583 individuals[154]. Future Outlook - The company anticipates an 18% year-over-year growth in main business revenue for 2023, with costs and expenses also expected to rise by 18%[98]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[114]. - The company plans to expand its market presence by entering three new regions by the end of 2023, aiming for a market share increase of 15% in these areas[116]. - The company has set a performance guidance of 12 billion RMB in revenue for 2023, reflecting a growth target of 20%[116].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,129,631,187.52, representing a year-on-year increase of 16.05%[6]. - The net profit attributable to shareholders was CNY 222,065,842.87, with a significant increase in net profit excluding non-recurring gains and losses of 386.09% to CNY 74,746,441.06[6][9]. - The basic and diluted earnings per share for the period were both CNY 0.12, with a return on equity of 3.21%, an increase of 3.93 percentage points compared to the previous year[7]. - Total operating revenue for Q1 2023 reached ¥1,129,631,187.52, an increase of 16.06% compared to ¥973,430,594.24 in Q1 2022[20]. - Net profit for Q1 2023 was ¥223,609,353.89, a significant recovery from a net loss of ¥49,070,528.64 in Q1 2022[21]. - Earnings per share for Q1 2023 were ¥0.12, compared to a loss of ¥0.02 per share in Q1 2022[22]. - The company reported a total comprehensive income of ¥207,817,727.48 for Q1 2023, compared to a loss of ¥61,078,394.23 in Q1 2022[22]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 1,022,306,805.29, indicating a cash outflow during the quarter[6]. - Cash flow from operating activities in Q1 2023 was ¥879,407,609.37, an increase from ¥624,902,062.16 in Q1 2022[24]. - The net cash flow from operating activities was -1,022,306,805.29 RMB, compared to -1,072,701,705.21 RMB in the previous year, indicating a slight improvement[25]. - Total cash inflow from investment activities was 318,755,177.26 RMB, down from 1,759,185,308.27 RMB year-over-year[25]. - The net cash flow from financing activities was 31,751,618.96 RMB, a significant recovery from -15,616,217.05 RMB in the previous year[26]. - The company reported a total operating cash inflow of 978,649,769.45 RMB, an increase from 651,758,590.40 RMB year-over-year[25]. - Cash outflows for operating activities totaled 2,000,956,574.74 RMB, compared to 1,724,460,295.61 RMB in the previous year[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,283,308,606.50, down 5.55% from the end of the previous year[7]. - The company's total current assets as of March 31, 2023, amount to ¥4,878,704,657.87, a decrease from ¥5,953,544,003.19 as of December 31, 2022[17]. - The total liabilities amount to ¥4,553,038,671.99, compared to ¥5,530,117,083.95 in the previous year[18]. - The total assets of the company are ¥12,283,308,606.50, down from ¥13,004,578,298.67 in the previous year[17]. - The total liabilities and equity decreased to ¥12,283,308,606.50 in Q1 2023 from ¥13,004,578,298.67 in Q1 2022[19]. - Total liabilities amounted to approximately ¥5.53 billion, with current liabilities at ¥5.25 billion and non-current liabilities at ¥284.87 million[30]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 72,003[13]. - The largest shareholder, Hangzhou Hengsheng Electronic Group Co., Ltd., holds 393,743,087 shares, accounting for 20.72% of total shares[13]. - The total equity attributable to shareholders increased to ¥7,053,046,526.25 in Q1 2023 from ¥6,811,761,050.50 in Q1 2022[19]. - The total owner's equity, including minority interests, was approximately ¥7.47 billion[31]. Operational Insights - The company is focusing on continuous adjustments and optimizations in its organizational structure and key business areas to enhance responsiveness to customer needs and product innovation[10][11]. - The company received government subsidies amounting to CNY 3,182,792.05, which are closely related to its normal business operations[7]. - The company has restructured its reporting categories, including a new segment for "Data Services" and "Innovative Business"[13]. - Research and development expenses for Q1 2023 totaled ¥540,674,188.06, up from ¥502,120,116.27 in Q1 2022, indicating a focus on innovation[20].

Financial Performance - The company achieved a net profit of ¥1,030,126,214.29 for the year 2022, with a proposed cash dividend of ¥1.30 per 10 shares, totaling ¥246,828,639.85[4]. - The company's revenue for 2022 was CNY 6,502,387,143.49, representing an 18.30% increase compared to 2021[16]. - Net profit attributable to shareholders decreased by 25.45% to CNY 1,091,088,379.58, primarily due to significant declines in fair value gains on financial assets[24]. - The net profit excluding non-recurring gains increased by 20.90% to CNY 1,144,419,161.05, attributed to effective cost control measures[24]. - Operating cash flow for 2022 was CNY 1,138,192,779.96, reflecting an 18.96% increase from the previous year[16]. - Total revenue for the year reached ¥6,497,599,111.75, representing an 18.31% increase compared to the previous year[49]. - The company reported a net profit margin of 15%, up from 12% in the previous year, indicating improved operational efficiency[100]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2022, representing a year-over-year growth of 20%[100]. Research and Development - The company's R&D expenditure totaled RMB 2.346 billion, accounting for 36.08% of its revenue, with 7,016 R&D personnel representing 52.07% of the total workforce[26]. - Research and development expenses increased to ¥2,004,931,415.46 in 2022, up from ¥1,811,641,736.55 in 2021, marking a rise of 10.7%[185]. - The company is exploring advanced AI technologies such as deep learning and NLP to enhance its service offerings in various fields including investment advisory and risk management[26]. - The company is focusing on product innovation and aims to strengthen its competitive edge by continuously improving its core products[81]. - Research and development investments increased by 10%, focusing on innovative technologies and product enhancements[102]. Market Strategy and Growth - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[183]. - The company aims to support the financial sector's digital transformation by leveraging technologies like cloud computing, big data, and blockchain[34]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[100]. - The company is actively pursuing partnerships and collaborations to enhance its research and development capabilities in emerging technologies[87]. - The company is focusing on strategic acquisitions to bolster its market position and product offerings[97]. Corporate Governance - The company held a total of 4 shareholder meetings during the reporting period, ensuring compliance with the Company Law and internal regulations[89]. - The board of directors consists of 11 members, including 4 independent directors, with a total of 9 board meetings held during the reporting period[90]. - The company has established specialized committees under the board, including the Strategy and Investment Committee, Audit Committee, Nomination Committee, and Compensation and Assessment Committee, to enhance decision-making[90]. - The company has a clear governance structure in place, ensuring transparency and accountability in its operations[88]. - The company has implemented measures to ensure the independence of its assets, personnel, finance, and operations, maintaining compliance with relevant regulations[90]. Risk Management - The company emphasizes the importance of risk awareness regarding future strategies and plans, indicating that these do not constitute substantial commitments to investors[5]. - The company is committed to developing a unified risk management platform to transition from passive to proactive risk management[77]. - The company has no significant risks or violations in decision-making procedures regarding external guarantees[6]. - There are no non-operational fund occupations by controlling shareholders or related parties reported[5]. Employee Engagement and Corporate Social Responsibility - The company has implemented a stock ownership plan and stock option incentive plan for employees in 2022[30]. - The company is committed to corporate social responsibility and sustainable development, adhering to its core values of "customer first, integrity, dedication, open cooperation, and continuous growth"[88]. - The company has emphasized employee training programs to enhance overall workforce quality and management capabilities[126]. - The company plans to invest 50 million in sustainability initiatives over the next three years[103]. - The company achieved a reduction of 3,411 tons in carbon emissions through various measures, including digital energy management and waste classification[139]. Financial Position and Assets - Total assets at the end of 2022 reached CNY 13,004,578,298.67, a 7.65% increase from 2021[17]. - The company's net assets attributable to shareholders increased by 19.61% to CNY 6,811,761,050.50[17]. - The company's goodwill increased by 84.62% to CNY 678,448,513.59, attributed to the acquisition of Summit software-related business[57]. - The total liabilities as of December 31, 2022, were ¥3,500,000,000.00, compared to ¥3,200,000,000.00 in 2021, reflecting an increase of 9.38%[175]. - The company maintained a strong liquidity position with a current ratio of 1.5, indicating good short-term financial health[175].

证券代码：600570 证券简称： 恒生电子 编号：2023-007 恒生电子股份有限公司 恒生电子股份有限公司 会议召开时间：2023年4月4日（星期二）15:00-16:30 业绩说明会召开方式：网络直播。 网络直播地址：https://live.polyv.cn/watch/3845445 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资者可于2023年4月4日12:00前将相关问题通过电子邮件的形式 发送至公司投资者关系邮箱：investor@hundsun.com。公司将于业绩说明会上对 投资者普遍关注的问题进行回答。 恒生电子股份有限公司（以下简称"公司"）拟于 2023 年 4 月 1 日在上海 证券交易所网站（www.sse.com.cn）披露公司 2022 年度报告。为了增强与投资 者的交流，方便投资者更好理解公司发展规划及 2022 年度报告相关内容，公司 拟以网络直播形式召开 2022 年度业绩说明会。现将相关事宜公告如下： 一、 业绩说明会类 ...

2018 年第三季度报告 公司代码：600570 公司简称：恒生电子 恒生电子股份有限公司 2018 年第三季度报告 1 / 23 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 10 | 2018 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 5,683,230,696.67 5,852,148,269.04 -2.89 归属于上市公司 股东的净资产 3,183,885,722.94 3,073,004,047.25 3.61 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 -103,273,490.69 -58,716,588.97 不适用 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 1,963,072, ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,360,997,368.50, representing a 25.98% increase compared to CNY 1,080,287,923.47 in the same period last year [24]. - The net profit attributable to shareholders for the same period was CNY 300,348,340.63, up 31.37% from CNY 228,624,105.24 year-on-year [24]. - The net profit after deducting non-recurring gains and losses increased by 61.35%, reaching CNY 223,850,843.50 compared to CNY 138,735,663.44 in the previous year [24]. - The basic earnings per share for the first half of 2018 was CNY 0.49, a 32.43% increase from CNY 0.37 in the same period last year [25]. - The weighted average return on net assets was 9.43%, an increase of 0.35 percentage points compared to 9.08% in the previous year [25]. - The total assets at the end of the reporting period were CNY 5,497,301,933.31, a decrease of 6.06% from CNY 5,852,148,269.04 at the end of the previous year [24]. - The net assets attributable to shareholders increased by 3.75%, reaching CNY 3,188,188,801.47 compared to CNY 3,073,004,047.25 at the end of the previous year [24]. - The net cash flow from operating activities was negative at CNY -351,158,363.83, compared to CNY -242,625,565.82 in the same period last year, indicating a decline in cash flow [24]. Regulatory and Compliance Issues - The company reported a net asset balance of -422,121,500.60 CNY for its subsidiary, indicating it is unable to continue normal operations [10]. - The subsidiary Hangzhou Hengsheng Network Technology Co., Ltd. was fined a total of ¥329,600,618.01 and had illegal gains of ¥109,866,872.67 confiscated due to violations of the Securities Law [79]. - The network technology company has paid ¥23,121,028.61 of the fines, leaving an outstanding balance of ¥416,346,462.07, with potential for additional penalties due to non-compliance [78]. - The company has been placed on the list of dishonest executors, which may impact its future business operations and reputation [80]. - The board acknowledges that the network technology company is unable to continue normal operations due to insufficient net assets to cover the fines imposed by the regulatory authority [76]. - The company has not indicated any significant risks or changes in profit expectations for the upcoming reporting period [73]. Strategic Initiatives and Market Position - The company emphasizes the importance of embracing regulation while innovating to mitigate risks associated with financial policies and market competition [7]. - The company plans to enhance its product development and invest more in financial innovation to maintain competitiveness in the rapidly evolving market [8]. - The company acknowledges the increasing competition from new entrants in the financial IT services sector, including internet giants and strong financial institutions [7]. - The company is focusing on enhancing user experience and creating user value through its U+ initiative, which has become a key part of its long-term strategy [24]. - The company continues to invest in new technologies and products, including AI and blockchain solutions, to expand its market presence and improve service offerings [24]. - The company is actively exploring market opportunities arising from new policies, including potential foreign investment relaxations in the domestic financial sector [32]. Employee and Organizational Development - The company is committed to improving employee compensation and establishing a long-term incentive system to retain talent in a competitive labor market [8]. - The company plans to strengthen team and organizational development in response to recent management crises, ensuring operational stability [43]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period [81]. Financial Management and Investments - The company reported a significant decrease in employee compensation payable, down 69.53% to ¥140.22 million from ¥460.17 million [61]. - The company has made significant equity investments totaling ¥12 million in two companies, with no litigation involved [64][65]. - The company confirmed an investment income of 41.0588 million yuan based on the performance of Weier Technology in 2017, which met the performance commitment [82]. - The company has a performance commitment period from 2016 to 2018, with a total transaction price of 189.975 million yuan for the acquisition of 18.625% equity in Weier Technology [82]. - The company has a cash payment of 56.9925 million yuan and a share issuance payment of 132.9825 million yuan as part of the acquisition deal [82]. Subsidiary Performance - The company’s subsidiary, Hangzhou Hengsheng Network Technology Service Co., Ltd., reported a net loss of 0.85 million RMB with total assets of 0.59 million RMB [71]. - The company’s subsidiary, Hangzhou Yunyin Network Technology Co., Ltd., achieved a net profit of 0.56 million RMB on total assets of 3.41 million RMB [71]. - The company’s subsidiary, Hangzhou Cloud Winning Network Technology Co., Ltd., reported a net profit of 0.56 million RMB with total assets of 2.00 million RMB [72]. - The company’s subsidiary, Hangzhou Whale Teng Network Technology Co., Ltd., reported a significant net loss of 2.35 million RMB on total assets of 5.00 million RMB [72]. Accounting and Financial Reporting - The company adheres to the accounting standards, ensuring that the financial reports accurately reflect its financial position and performance [134]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months [132]. - The company has implemented specific accounting policies for receivables, fixed assets, and revenue recognition, tailored to its operational characteristics [133]. - The company recognizes revenue from self-developed software when ownership risks and rewards transfer to the buyer, and the amount can be reliably measured [190]. - For custom software sales, revenue is recognized using the percentage-of-completion method when the outcome can be reliably estimated [191].