Meeting Overview - The first extraordinary general meeting of shareholders for YunSai ZhiLian Co., Ltd. was held on November 13, 2025, in Shanghai [2] - The meeting was convened by the board of directors and chaired by the general manager, Jiang Xiaoyong, using a combination of on-site and online voting [2][3] Attendance and Voting - All five current directors attended the meeting, along with the company secretary and other senior management [3] - The meeting had no rejected resolutions, and the voting process complied with the Company Law and the company's articles of association [2][3] Resolutions Passed - The proposal to increase the daily related party transaction limit for 2025 was approved [3][4] - The proposal to supplement the board of directors was also discussed, with specific voting details not disclosed [3] Legal Verification - The meeting was witnessed by lawyers from Beijing Tongshang Law Firm, confirming that the meeting's procedures and results were legal and valid [4] Board of Directors Meeting - The 23rd meeting of the 12th board of directors was held on November 13, 2025, with all seven directors present [8] - The board elected Liu Shanqian as the chairman of the 12th board of directors, with a unanimous vote of 7 in favor [9] Committee Adjustments - The board approved adjustments to the members of its specialized committees, including the Strategic Committee, Audit and Compliance Committee, Nomination Committee, and Compensation and Assessment Committee [9][10][11][12]

Group 1 - The core point of the article is that YunSai ZhiLian (SH 600602) held its 23rd board meeting on November 13, 2025, to discuss the election of the chairman of the board [1] - For the year 2024, YunSai ZhiLian's revenue composition is as follows: solution and integration services account for 95.67%, other industries account for 7.44%, other businesses account for 0.01%, and internal offsets account for -3.13% [1] - As of the report date, YunSai ZhiLian has a market capitalization of 26.6 billion yuan [1]

证券代码：600602 900901 证券简称：云赛智联 云赛 B 股 公告编号：2025-042 云赛智联股份有限公司 2025年第一次临时股东会决议公告 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。 (一)股东会召开的时间：2025 年 11 月 13 日 (二)股东会召开的地点：上海市徐汇区虹漕路 39 号华鑫科技园 D3 栋 3 楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 989 | | --- | --- | | 其中：A 股股东人数 | 945 | | 境内上市外资股股东人数（B 股） | 44 | | 2、出席会议的股东所持有表决权的股份总数（股） | 504,077,352 | | 其中：A 股股东持有股份总数 | 480,455,831 | | 境内上市外资股股东持有股份总数(B 股) | 23,621,521 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 36.8565 | | ...

云赛智联股份有限公司 2025 年第一次临时股东会 的 北京市通商律师事务所上海分所 关于 法律意见书 二〇二五年十一月 北京市通商律师事务所上海分所（以下简称"本所"）接受云赛智联股份有 限公司（以下简称"公司"）委托，指派本所律师（以下简称"本所律师"）出 席公司 2025 年第一次临时股东会（以下简称"本次股东会"），并根据《中华 人民共和国公司法》《中华人民共和国证券法》（以下简称"《证券法》"）《上 市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和规范性文 件（以下统称"法律法规"）以及《云赛智联股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，对本次股东会的召集、召开程序、出席会议人员的资 格、表决程序和表决结果等有关事宜出具法律意见。 本所及本所律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则(试行)》等规定及本法律意见书出具日以 前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信用 原则，进行了充分的核查验证，保证法律意见所认定的事实真实、准确、完整， 所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述 ...

证券代码：600602 证券简称：云赛智联 编号：临 2025-043 900901 云赛 B 股 一、关于选举公司第十二届董事会董事长的议案 表决结果：7票赞成，0票反对，0票弃权。 根据公司章程规定，公司董事会同意选举刘山泉先生（简历附后）担任公 司第十二届董事会董事长，任期至公司第十二届董事会届满之日止。 二、关于调整公司第十二届董事会专门委员会成员的议案 表决结果：7票赞成，0票反对，0票弃权。 鉴于公司董事会部分成员调整，为保证董事会专门委员会正常运行，根据 《公司法》《公司章程》及公司董事会各专门委员会实施细则等相关规定，公 司董事会同意对董事会专门委员会组成人员进行调整，调整后的具体情况如下： 1.战略委员会成员：刘山泉、江骁勇、田明、封松林，主任：刘山泉。 2.审计与合规委员会成员：李远勤、田明、董剑萍，主任：李远勤。 云赛智联股份有限公司 十二届二十三次董事会会议决议公告 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个别及连带责任。 云赛智联股份有限公司（以下简称：云赛智联、公司）董事会十二届二十 三次会议通知于20 ...

云赛智联股份有限公司 2025 年第一次临时股东会会议文件 云赛智联股份有限公司 2025 年第一次临时股东会 会议文件 二〇二五年十一月 云赛智联股份有限公司 2025 年第一次临时股东会会议文件目录 | 一 | 公司 2025 | 年第一次临时股东会有关规定 | | --- | --- | --- | | 二 | 公司 2025 | 年第一次临时股东会表决办法说明 | | 三 | 公司 2025 | 年第一次临时股东会会议议程 | | 1 | 关于增加 | 2025 年度日常关联交易额度的议案 | | 2.00 | 关于选举董事的议案 | | | 2.01 | 选举刘山泉先生为公司第十二届董事会董事 | | | 2.02 | 选举田明先生为公司第十二届董事会董事 | | - 2 - 云赛智联股份有限公司 2025 年第一次临时股东会会议文件 云赛智联股份有限公司 2025 年第一次临时股东会有关规定 为了维护投资者的合法权益，确保股东在公司 2025 年第一次临时股东会期 间依法行使权利，保证股东会的正常秩序和议事效率，依据中国证券监督管理委 员会《上市公司股东会规则》的有关规定，制定如下有关规定： 一、 ...

Investment Rating - The report assigns a "Strong Buy" rating for the computer industry, particularly focusing on AI applications and quantum computing [6]. Core Insights - The integration of AI into various applications is deepening, with significant government support and technological advancements driving growth in the sector [6][12]. - Quantum computing is entering a new era with the introduction of NVQLink, which facilitates practical applications by connecting quantum processors with GPU supercomputers [6][17]. - Cursor has transitioned from an AI shell to a native AI programming platform, enhancing its capabilities with new models and interfaces [6][19]. - OpenAI is preparing for a historic IPO, potentially valued at $1 trillion, marking its shift from a non-profit to a profit-driven tech giant [6][22]. - The signing of an 80.5 million yuan contract by Yujian Robotics signifies the commercialization of embodied intelligence in high-precision manufacturing [6][24]. Summary by Sections AI Integration - The "14th Five-Year Plan" emphasizes the implementation of "AI+" actions, aiming to integrate AI across various sectors, enhancing productivity and innovation [12][13]. - As of September 2025, the active user base for AI applications reached 729 million on mobile and 200 million on PC, indicating robust growth in the sector [12][14]. Quantum Computing - NVQLink, introduced by NVIDIA, connects quantum processors with GPU supercomputers, enhancing computational efficiency and enabling real-time error correction [17][18]. - The system has shown a 200-fold increase in computational speed for molecular simulations while reducing power consumption by 15% [17][18]. AI Programming Platforms - Cursor's new model, Composer, offers a fourfold speed advantage in coding tasks, marking its evolution into a fully integrated AI platform [19][20]. - The platform allows for parallel operation of multiple AI agents, improving coding efficiency and quality through collaborative problem-solving [19][20]. OpenAI's IPO - OpenAI's restructuring aims to bolster its market position, with plans to raise at least $60 billion through its IPO, potentially making it the largest in history [22][23]. Robotics in Manufacturing - Yujian Robotics has secured a significant contract for embodied intelligence robots, indicating a shift from concept to practical application in high-end manufacturing [24][25][26].

Core Viewpoint - YunSai ZhiLian is a significant player in the smart city sector in China, providing core software and hardware products and comprehensive solutions, with a differentiated advantage in technology and resource integration [1] Group 1: Business Performance - In Q3 2025, YunSai ZhiLian achieved a revenue of 4.599 billion yuan, ranking 5th out of 102 in the industry, significantly above the industry average of 1.712 billion yuan and median of 419 million yuan, but still far behind the top competitors [2] - The net profit for the same period was 161 million yuan, ranking 12th in the industry, exceeding the average net profit of 26.43 million yuan and median of -7.1992 million yuan, yet still trailing behind the leaders [2][6] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 39.00%, an increase from 30.82% year-on-year, and above the industry average of 31.94%, indicating rising debt pressure [3] - The gross profit margin was 16.66%, down from 19.59% year-on-year and significantly lower than the industry average of 41.71%, suggesting a need for improvement in profitability [3] Group 3: Management and Shareholder Structure - The controlling shareholder is Shanghai Yidian (Group) Co., Ltd., with the actual controller being the Shanghai State-owned Assets Supervision and Administration Commission [4] - The general manager, Jiang Xiaoyong, has a rich background in technology and management, previously holding positions in related companies [4] Group 4: Shareholder Changes - As of February 3, 2017, the number of A-share shareholders decreased by 47.11% to 75,700, while the average number of circulating A-shares held per account increased by 215.68% [5] - As of September 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with notable changes in shareholdings [5] Group 5: Future Outlook - West Securities projects revenues for 2025 to 2027 at 6.434 billion yuan, 7.516 billion yuan, and 8.818 billion yuan, with year-on-year growth rates of 14.4%, 16.8%, and 17.3% respectively, maintaining a "buy" rating [6] - Guosheng Securities anticipates revenues of 6.489 billion yuan, 7.593 billion yuan, and 8.943 billion yuan for the same period, with net profits expected to rise correspondingly [7]

Group 1 - The Computer ETF (159998) has risen by 0.28% as of October 28, 2025, marking its fourth consecutive increase, with a turnover rate of 4.25% and a transaction volume of 121 million yuan [3] - The Computer ETF (159998) has seen a cumulative increase of 3.82% over the past week, ranking first among comparable funds, with a significant growth in scale of 8.639 million yuan [3] - The Tianhong Sci-Tech Index ETF (589860) has a turnover rate of 11.44% and a transaction volume of 40.4241 million yuan, indicating active market trading [3] Group 2 - The Computer ETF (159998) covers a wide range of sectors including information technology services, application software, and communication equipment, featuring leaders in AI applications and hardware manufacturing [4] - The Tianhong Sci-Tech Index ETF (589860) covers 97% of the market capitalization of the Sci-Tech board, with a balanced allocation in strategic emerging industries such as semiconductors and artificial intelligence [4] - The U.S. Department of Energy has announced a collaboration with NVIDIA and Oracle to build seven new AI supercomputers, emphasizing the importance of AI in scientific research [5] Group 3 - The quantum technology market is expected to exceed $6.1 billion globally by 2025, with China's market projected to reach 11.56 billion yuan, reflecting a compound annual growth rate of over 30% [6] - CITIC Securities highlights the need to accelerate innovation in AI and digital technologies, predicting significant growth in capital expenditure related to AI model development [7]

900901 云赛 B 股 | | | | | | | | 是否继续 | | 是否存 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时 间 | | 原定任 期到期 | | 离任 原因 | 在上市公 司及其控 | 具体职 务（如 | 在未履 行完毕 | | | | | | 日 | | | 股子公司 | 适用） | 的公开 | | | | | | | | | 任职 | | 承诺 | | 黄金刚 | 董事长、董事、董事 | 2025 | 年 | 2026 | | 到 龄 | 否 | 不适用 | 否 | | | 会战略委员会主任 | 10 月 | 27 | 年 5 | 月 | 退休 | | | | | | 及委员、董事会提名 | 日 | | 18 日 | | | | | | | | 委员会委员、董事会 | | | | | | | | | | | 薪酬与考核委员会 | | | | | | | | | | | 委员、法定代表人 | | | | | | | | | 二、离任对公司的影响 根据《公司法》《上海证券 ...