Investment Rating - The investment rating for the company is "Buy" (maintained) [3][10] Core Insights - The company has achieved revenue growth of 9.64% year-on-year, reaching 11.56 billion yuan, and has set a record high in operating cash flow at 855 million yuan [2] - The company is accelerating its global expansion in the smart automotive sector, with a significant increase in orders and shipments, achieving over 30% growth in overall shipments [2] - The company is focusing on "AI + industry" strategies, with notable breakthroughs in "AI + healthcare" and "AI + automotive" sectors, signing new contracts worth 678 million yuan in vertical AI applications [3] Summary by Sections Financial Performance - In 2024, the company achieved a net profit of 435 million yuan, a year-on-year increase of 22.01%, meeting strategic goals [2] - The company’s revenue for the smart automotive interconnection business was 4.70% higher year-on-year, totaling 4.10 billion yuan [8] - The healthcare and social security business revenue decreased by 12.08% to 2.26 billion yuan, but future growth is anticipated [8] Business Segments - The smart city business saw a revenue increase of 49.95%, reaching 2.43 billion yuan, driven by the integration of AI and big data technologies [8] - The enterprise interconnection and other businesses generated 2.77 billion yuan in revenue, up 13.64%, benefiting from the integration of AI models and global service capabilities [8] Future Outlook - The company projects revenues of 12.85 billion yuan, 14.54 billion yuan, and 16.57 billion yuan for 2025, 2026, and 2027 respectively, with net profits expected to rise significantly [10] - The company aims to deepen the integration of AI with industry scenarios and expand application areas, transitioning from a "technology provider" to a "value creator" [9]

Investment Rating - The report maintains a "Buy" rating for Neusoft Corp with a target price of RMB 16.17 [2][6]. Core Insights - Neusoft Corp is expected to benefit from AI-driven opportunities, with all four core business segments anticipated to accelerate growth as downstream customer demand recovers [2][3]. - The company has established a strong competitive advantage in the "AI + healthcare" sector, with significant contracts signed in this area [3][4]. - The operating cash flow reached a historical high of RMB 855 million in 2024, reflecting improved cost management and operational efficiency [4][6]. Financial Performance - In 2024, Neusoft's revenue was RMB 11.56 billion, with a net profit attributable to the parent company of RMB 1.156 billion, showing a year-on-year growth of 9.64% [2][6]. - The company's gross margin for 2024 was 24.01%, a slight decrease of 0.19 percentage points from the previous year, primarily due to a decline in the gross margin of the intelligent connected vehicle segment [4][6]. - For the first quarter of 2025, revenue was RMB 1.85 billion, a year-on-year increase of 1.06%, while the net profit attributable to the parent company was a loss of RMB 12 million [5][6]. Revenue and Profit Forecast - Revenue forecasts for 2025, 2026, and 2027 are projected at RMB 13.3 billion, RMB 15.9 billion, and RMB 19.6 billion, respectively [6][12]. - The net profit attributable to the parent company is expected to be RMB 434 million, RMB 525 million, and RMB 716 million for the years 2025, 2026, and 2027, respectively [6][12]. Market Position and Valuation - The report indicates that Neusoft's valuation is aligned with industry averages, with a projected P/E ratio of 42.4 for 2025 [6][14]. - The potential upside from the current closing price of RMB 9.93 to the target price of RMB 16.17 represents a 63% increase [8].

Core Viewpoint - Neusoft Corporation is actively implementing strategic transformations focusing on AI and data value, leading to significant improvements in operational performance and market position across various sectors, particularly in healthcare and smart automotive solutions [2][3][11]. Group 1: Strategic Transformation and Performance - The company has made substantial progress in its strategic transformation, emphasizing the intelligentization of solutions and data value realization, resulting in a notable increase in net profit and cash flow [3][4]. - In 2024, the company signed new contracts worth 678 million yuan in vertical AI applications and 233 million yuan in data value-related businesses, marking a year-on-year growth of 207% [3][4]. - The company achieved a net profit of 36.13 million yuan, an increase of 111.14 million yuan year-on-year, with a main business net profit growth of 22.01% [3][4]. Group 2: Healthcare Sector Developments - Neusoft maintains the leading market share in healthcare IT solutions, focusing on high-quality reforms in public hospitals and the value realization of healthcare data [4][11]. - The company signed over 30 major healthcare project orders in 2024, enhancing its service capabilities in the healthcare sector [4][11]. - Neusoft's AI-driven healthcare solutions have been implemented in over 90 hospitals, showcasing its commitment to integrating AI with healthcare services [6][11]. Group 3: Smart Automotive Solutions - The company has developed the 8295 smart cockpit platform, achieving significant technological innovations and partnerships with major automotive manufacturers [5][22]. - In 2024, the overall shipment volume of automotive products increased by over 30%, with export-related business growing by 65% [5][24]. - Neusoft's automotive solutions have been recognized with multiple awards, including the "Best Overseas Practice Award" and "Top 10 AI Technology Partners for Chinese Automotive Enterprises" [5][24]. Group 4: Data Value and AI Integration - Neusoft is actively collaborating with various cities to build data value ecosystems, focusing on healthcare, smart cities, and government big data [8][15]. - The company has launched innovative applications in data governance and AI-driven solutions, enhancing its capabilities in the healthcare and social security sectors [15][16]. - Neusoft's cloud-native data platform has strengthened its compatibility with domestic innovations, facilitating the development of data-driven products across multiple industries [8][15]. Group 5: Recognition and Awards - The company has received numerous accolades for its contributions to the software industry and its innovative solutions in AI and healthcare [8][10]. - Neusoft was recognized as a leading enterprise in the new generation of information technology and awarded for its digital government solutions [10][28]. - The company continues to enhance its brand reputation and influence within the digital economy, receiving awards for its smart elderly care services and digital government products [9][10].

| 2024 | 年年度股东大会议程 | | 1 | | --- | --- | --- | --- | | 2024 | 年度董事会报告、2024 | 年年度报告 | 2 | | 2024 | 年度监事会报告 | | 15 | | 2024 | 年度财务决算报告 | | 18 | | 关于 2024 | | 年度利润分配的议案 | 21 | | 关于聘请 | 2025 | 年度审计机构的议案 | 22 | | 关于 2024 | | 年度董事薪酬的议案 | 23 | | 独立董事 | 2024 | 年度述职报告 | 24 | | | | 关于注销公司已回购股份的议案 | 36 | | | | 关于修改公司章程的议案 | 38 | | 关于更换董事的议案 | | | 39 | | 关于 2025 | | 年度日常关联交易预计情况的议案 | 40 | 东软集团股份有限公司 2024 年年度股东大会议程 东软集团股份有限公司 2024 年年度股东大会议程 时间：2025 年 5 月 23 日 下午 13:00 地点：沈阳市浑南新区新秀街 2 号 东软软件园 会议中心 参加人员：股东及股东授权代表、董事会成员、监事 ...

东软集团（600718）5月15日召开2024年度暨2025年第一季度业绩说明会，公司荣誉董事长刘积仁、董 事长兼首席执行官(CEO)荣新节、联席总裁兼首席财务官张晓鸥、高级副总裁兼董事会秘书王楠等，就 2024年度以及2025年第一季度经营情况与投资者进行交流。 据东软集团介绍，2024年公司全面启动解决方案智能化战略，加大以AI、大数据为代表的业务创新力 度，打造智能化、数据价值化、服务化和生态化的解决方案。在业务创新角度，公司紧抓新一轮AI及 数据价值化机遇，不断推动新产品的推出及订单的落地，相关成果迎来了爆发式增长。2024年，公司新 签垂直领域AI应用合同6.78亿元；新签数据价值化相关业务合同2.33亿元，同比增长207%，AI+医疗相 关业务合同4.88亿元，同比增长106%。 在回复投资者提问时，东软集团表示，2024年度计提的资产减值损失主要为对长期股权投资1.9亿元及 存货计提的减值准备1.2亿元。根据企业会计准则的相关规定，当出现长期股权投资的可收回金额低于 长期股权投资账面价值的情况，应当计提减值准备。同时，公司将存货的可变现净值与存货账面余额进 行对比，按照孰低的原则，对存在减值迹象 ...

智通财经5月6日电，市场监管总局发布2025年4月21日—4月27日无条件批准经营者集中案件列表，其中 包括广东九丰能源集团有限公司收购广州华凯石油燃气有限公司股权案，东软集团股份有限公司收购上 海思芮信息科技有限公司股权案，浙江吉利远程新能源商用车集团有限公司与亳州交通投资控股集团有 限公司等经营者新设合营企业案，三井物产株式会社收购天津德瑞特种业有限公司股权案等。 ...

证券代码：600718 证券简称：东软集团 公告编号：临2025-032 东软集团股份有限公司2025年第一次临时股东大会决议公告 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。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025年4月30日 (二)股东大会召开的地点：沈阳市浑南新区新秀街2号 东软软件园 (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： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议采用现场投票和网络投票相结合的方式召开，会议召集、召开程序符合《公司法》及《公司章 程》的有关规定。会议由董事长荣新节主持。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事8人，出席8人，上述部分董事通过视频接入会议。 2、公司在任监事5人，出席4人，上述部分监事通过视频接入会议。因工作原因，监事长牟宏未能出席 本次会议。 3、公司高级副总裁兼董事会秘书王楠出席了本次会议；公司高级副总裁王经锡、轮值CEO ...

证券代码：600718 证券简称：东软集团 公告编号：临 2025-032 东软集团股份有限公司 2025年第一次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 4 月 30 日 (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议采用现场投票和网络投票相结合的方式召开，会议召集、召开程序 符合《公司法》及《公司章程》的有关规定。会议由董事长荣新节主持。 (五) 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事8人，出席8人，上述部分董事通过视频接入会议。 2、 公司在任监事5人，出席4人，上述部分监事通过视频接入会议。因工作 原因，监事长牟宏未能出席本次会议。 3、 公司高级副总裁兼董事会秘书王楠出席了本次会议；公司高级副总裁王 经锡、轮值 CEO 徐洪利、联席总裁兼首席财务官张晓鸥、联席总裁兼首席运营官 盖龙佳、高级副总裁陈锡民、高级副总裁李军、高级副总 ...

辽宁青联律师事务所 LÌAO NING QING LIAN LAW FIRM 关于京镇团股捐限公司 2025 年第一次岡服东大会 之 港轉凱书 娱 第星 地址：沈阳市沈河区青年大街51号商会总部大厦B座14层 电话：024-28282868 网址：www.lnqinglian.com 辽宁青联律师事务所 关于东软集团股份有限公司 2025 年第一次临时股东大会之法律意见书 致：东软集团股份有限公司 辽宁青联律师事务所（以下简称"本所"）受东软集团股份有限公司（以下 简称"公司"）委托，指派崔永志律师、刘宏雨律师（以下简称"本所律师"） 出席公司 2025 年第一次临时股东大会。根据《中华人民共和国公司法》（以下 简称"《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》《上海证券交易所上市公司自律监管指引第 1 号——规 范运作》（以下简称"《规范指引第 1 号》"）《律师事务所从事证券法律业务 管理办法》（以下简称"《证券法律业务管理办法》"）等现行有效的法律、法 规、规章、规范性文件以及东软集团股份有限公司章程（以下简称"《公司章程》"） 《东软集团股份有限公司股东大 ...

Core Insights - Dongsoft Group reported a revenue of 11.56 billion yuan for 2024, marking a year-on-year growth of 9.64% and a net profit attributable to shareholders of 63.05 million yuan, with a significant increase in operating cash flow [1] - The company initiated major strategic transformations in 2024, focusing on intelligent solutions, data value realization, and service-oriented strategies, while continuing to emphasize innovation and globalization [1][3] Financial Performance - Revenue for 2024 reached 11.56 billion yuan, a 9.64% increase year-on-year [1] - Net profit attributable to shareholders was 63.05 million yuan, with a 22.01% growth in net profit from core business operations [1] - Operating cash flow net amount reached a record high of 855 million yuan [1] - The company proposed a cash dividend of 1.50 yuan per 10 shares (including tax) [1] Strategic Initiatives - Dongsoft Group is implementing significant changes across management platforms, R&D systems, software production, marketing, and talent leadership [1] - The company signed new contracts worth 678 million yuan in vertical AI applications and 233 million yuan in data value-related businesses, with a 207% year-on-year increase [1] - In the "AI + Healthcare" sector, contracts reached 488 million yuan, reflecting a 106% growth [1][2] Sector Development - The company is enhancing its core advantages in the "AI + Data" dual-driven health sector, with over 30 million-level healthcare project orders signed in 2024 [2] - Dongsoft has assisted 24 hospitals in achieving high-level ratings in national electronic medical record systems and provided services to over 50 medical community clients [2] - In the smart automotive connectivity sector, the company has secured orders from major domestic and international car manufacturers, with overall shipment volume increasing by over 30% [2] Future Outlook - For 2025, Dongsoft plans to further promote intelligent solutions, data value realization, and service-oriented strategies to enhance profitability and core competitiveness [3] - The company aims to unify solution development and market expansion management, focusing on customer value creation and timely market response [3] - Dongsoft intends to establish ecological collaboration with customers, partners, and cities, positioning itself as a designer and innovator of digital solutions [3]