Core Insights - Neusoft Group has signed a memorandum of understanding with MapmyIndia to leverage their respective strengths in software technology and data resources for deep collaboration in emerging markets like Southeast Asia and India [1][2] - The partnership aims to provide localized navigation products and smart mobility solutions, combining Neusoft's OneCoreGo global in-car smart mobility solution 6.0 Plus with local resources to facilitate market entry for automotive companies [1][2] - This collaboration signifies Neusoft's efforts to expand its global business footprint and enhance local ecosystem connections, establishing a network of partnerships with leading mapping companies across key global regions [1][2] Industry Context - The automotive industry's shift towards intelligence and connectivity is driving a wave of global expansion among automotive brands, with Southeast Asia and India identified as significant growth markets for automotive consumption [1][2] - These regions present unique challenges for automotive companies, including complex road conditions, unique traffic regulations, and a vast address system, which can hinder the provision of a seamless smart mobility experience [1] - MapmyIndia holds over 90% market share in the automotive navigation market in India, and the collaboration will integrate its mapping data and real-time traffic information with Neusoft's technology to enhance navigation and mobility services [2] - The partnership aims to create a comprehensive capability loop of "navigation + payment + interaction + vehicle connectivity + operation," addressing local user needs and improving product experience [2] - Neusoft's existing collaboration network spans major markets including Europe, North America, ASEAN, Australia, New Zealand, India, Japan, South Korea, the Middle East, and Africa, positioning it to deliver "globally adaptable, locally intelligent" smart mobility solutions [2]

11月20日，东软解决方案论坛2025在福州召开，论坛主题为"数据创造社会价值"。 论坛期间，东软全面介绍数据空间架构，正式发布面向城市就业、智慧医院等领域的多款创新产品，并全方位呈现数据价值化的业务布局与落地成果。同 时，东软联合关键客户分享了众多场景应用实践，为行业智能化转型提供新思路、新范式。 在论坛上，东软多次强调其新定位："智能世界的可靠伙伴"。这一价值锚点，驱动公司从技术提供者向客户价值创造者实现身份跃迁。这既是对"超越技 术"精神的传承，也是对"软件如此奇妙"的生动诠释。这一转变也意味着，公司正从传统技术服务提供商，转向客户价值的共同创造者。 具体而言，在客户侧，作为客户价值的赋能者，成为客户成功的一部分；在社会侧，作为民生与发展的贡献者，在养老、就业、医疗等新型城市基础设施领 域贡献力量；在产业侧，作为变革与创新的推动者，以软件创新推动产业高质量发展。 更为重要的是，东软并未将数据价值化视为短期风口，而是将其嵌入组织机制：成立智慧城市研究院与智能医疗研究院，推动跨业务单元协同；采 用"1+3+N"城市赋能体系（1个数据资源池、3大平台、N个生态主体）；与地方政府、国企、科研机构共建数据生态。 ...

Core Viewpoint - Neusoft Corporation's stock price has shown a slight increase of 2.09% on November 24, reaching 10.25 CNY per share, with a total market capitalization of 12.221 billion CNY, despite a year-to-date decline of 3.48% [1] Financial Performance - For the period from January to September 2025, Neusoft Corporation reported a revenue of 7.491 billion CNY, reflecting a year-on-year growth of 8.72%. However, the net profit attributable to shareholders decreased by 66.47% to 51.0818 million CNY [2] - Cumulatively, since its A-share listing, Neusoft has distributed a total of 1.894 billion CNY in dividends, with 332 million CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders of Neusoft Corporation increased to 98,200, marking an 8.72% rise from the previous period. The average number of circulating shares per shareholder decreased by 9.15% to 12,145 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 23.2244 million shares, a decrease of 21.662 million shares from the previous period [3] Market Activity - Neusoft Corporation has appeared on the stock market's "龙虎榜" three times this year, with the most recent occurrence on September 19, where it recorded a net purchase of 1.01 billion CNY, accounting for 51.22% of total trading volume on that day [1]

Core Viewpoint - Neusoft Corporation (600718) has received a significant contract from a major domestic automotive manufacturer to supply intelligent cockpit domain controllers, valued at approximately 4.2 billion RMB, which will be applied in multiple models set for mass production between 2026 and 2027 [1][1][1] Company Performance - As of November 21, 2025, Neusoft's stock closed at 10.04 RMB, down 1.67% from the previous week's closing price of 10.21 RMB [1][1] - The stock reached a weekly high of 10.88 RMB and a low of 10.03 RMB during the same period [1][1] - The company's current total market capitalization is 11.971 billion RMB, ranking 34th out of 119 in the IT services sector and 1509th out of 5167 in the A-share market [1][1] Contract Details - The contract for the intelligent cockpit domain controller is expected to have a lifecycle of approximately 6 years, although it is currently in the pre-mass production development stage and will not have a direct impact on the company's performance for the current fiscal year [1][1][1] - The product leverages Qualcomm's platform and integrates AI computing power with multimodal large model technology [1][1]

Core Insights - Neusoft Group has been selected as a designated supplier by a well-known domestic automotive manufacturer to supply intelligent cockpit domain controllers for multiple models set to be mass-produced between 2026 and 2027, with a total contract value of approximately 4.2 billion RMB [2] - This follows a previous announcement on September 19, where Neusoft secured a similar contract worth about 5.6 billion RMB for the supply of intelligent cockpit domain controllers, further solidifying its leading position in the automotive electronics sector [2][3] - The intelligent cockpit serves as a crucial component for advanced perception and interaction experiences in smart vehicles, directly impacting the travel experience of passengers [2] Company Strengths - Neusoft has accumulated substantial technical expertise and global project experience in the intelligent cockpit domain, establishing itself as a core supplier for mainstream automotive manufacturers [2] - The newly awarded intelligent cockpit domain controller products will be developed based on Qualcomm platforms, integrating AI computing power and multimodal large model technology to enhance user interaction and multitasking capabilities [2] - The company’s comprehensive solution capabilities, which include hardware, software, algorithms, and services, enable it to meet the stringent demands of mainstream automakers for advanced technology and reliable system performance [3] Market Position - The recent large orders reflect the market's deep trust in Neusoft's technological products and delivery capabilities, validating the core competitiveness of its intelligent cockpit domain controller platform, which is characterized by scalability and high adaptability [3] - As Chinese automotive brands accelerate their move towards the high end of the global value chain, Neusoft's ability to quickly respond to market changes and efficiently transition innovative products from development to mass production is increasingly recognized [3]

Core Insights - The current trend in the Chinese automotive industry is a rapid move towards the high-end of the global value chain, with mainstream automakers demanding advanced technology, system reliability, and comprehensive lifecycle service capabilities from core component suppliers [1][2] - Neusoft Group has been selected as a designated supplier for a well-known domestic automotive manufacturer, providing intelligent cockpit domain controllers, with an expected total supply value of approximately 4.2 billion yuan over a product lifecycle of about six years [1][2] Company Strategy - Neusoft Group leverages its "hardware + software + algorithms + services" full-stack solution capabilities and extensive global project experience to respond quickly to market demand changes, facilitating efficient product innovation from R&D to mass production [1] - The company aims to drive innovation focused on user experience and industry needs, promoting a more open and collaborative automotive intelligence ecosystem to achieve deeper technological breakthroughs in the field of intelligent vehicle connectivity [1][2] Product Development - The newly awarded intelligent cockpit domain control product will be based on Qualcomm's platform, integrating AI computing power and multimodal large model technology to enhance perception and reasoning capabilities across all scenarios, thereby improving user interaction and multitasking efficiency [2] - The signing of this order is seen as a strong validation of Neusoft's technological products and delivery capabilities, showcasing the platform's scalability and adaptability as core competitive advantages [2] Market Impact - The scale effect from this order is expected to create a positive feedback loop, enhancing Neusoft Group's core competitiveness and market share while accelerating penetration among global automotive brands [2] - Continuous revenue growth will provide sufficient support for R&D, and deep collaborations with various automakers will accumulate rich scenario data, facilitating ongoing optimization of platform solutions and fostering a virtuous cycle of "technological innovation - market validation - scale expansion" [2]

Core Insights - Neusoft Group has secured a significant order for intelligent cockpit domain controllers from a well-known domestic automotive manufacturer, amounting to approximately 4.2 billion yuan, with products expected to be used in multiple models set for mass production between 2026 and 2027, with a lifecycle of 6 years [1][2] - Cumulatively, Neusoft Group has achieved a total of 9.8 billion yuan in orders within the intelligent automotive sector in 2025, marking a record high in both order speed and scale [2][3] Order Details - The recent order of 4.2 billion yuan is the second major order exceeding 5 billion yuan received by Neusoft Group in 2025, following a 5.6 billion yuan order in September for models equipped with the Qualcomm 8397 platform [2] - The total order amount in the intelligent automotive sector since 2025 has reached 9.8 billion yuan, reflecting a robust order reserve and growth trajectory [2][3] Strategic Significance - The new order enhances Neusoft Group's revenue scale and profitability, reinforcing its market position as a leader in the intelligent cockpit domain controller sector and strengthening its technological barriers and brand advantages [3] - Neusoft Group's strategic transformation has led to a significant increase in its order reserves in automotive intelligence, with total project amounts exceeding 13 billion yuan over the past two years [2][3] Financial Performance - Neusoft Group has shown steady growth in overall performance, recovering from a loss in 2022 to achieve revenue growth from 9.466 billion yuan in 2022 to 11.56 billion yuan in 2024, a cumulative increase of 22.1% [6] - The company reported a net profit of 51.08 million yuan in the first three quarters of 2025, despite a year-on-year decline of 66.47%, attributed to increased R&D expenditures [6][7] R&D Investment - Neusoft Group has maintained high R&D investment levels, with expenditures reaching 1.032 billion yuan, 883 million yuan, and 818 million yuan from 2023 to the first three quarters of 2025, representing 9.79%, 7.64%, and 10.92% of annual revenue respectively [6] - The company's focus on R&D is a core competitive advantage, supporting its strategic transformation and business expansion [5][6] AI+ Industry Strategy - Neusoft Group is actively promoting its "AI+ industry" strategy, achieving significant breakthroughs in the "AI+ healthcare" sector, with new AI application contracts in vertical fields amounting to 484 million yuan in the first half of 2025, a year-on-year increase of approximately 50% [7] - The intelligent automotive connectivity segment has also seen a revenue increase of 20.11%, highlighting the market potential and resilience of the "AI+ industry" strategic layout [7]

Key Highlights - CICC plans to absorb and merge with Dongxing Securities and Xinda Securities, with stock suspension starting from November 20 [1] - Saiwu Technology has delivered a small batch of perovskite stacked component light-transmitting film, with minimal impact on performance [1] - Zhongfu Industrial intends to invest 259 million yuan in a green manufacturing project for aluminum-based new materials [1] - Dafeng Industrial has won a contract for the construction of stage craft equipment for an international performing arts center, valued at 165 million yuan [2] - Jinbei Automotive plans to invest a total of 158 million yuan to acquire 52% equity in Zhongtuo Technology [1] - Pro Pharmaceutical intends to repurchase shares worth between 180 million and 360 million yuan [1] - Yandong Micro plans to reduce its stake by up to 2.5% through shareholders Jingguorui and the National Integrated Circuit Fund [1][3] - Zhaomin Technology plans to issue convertible bonds to raise no more than 590 million yuan [1] - Dongsoft Group has received a notification from an automotive manufacturer for designated cooperation [1]

Core Viewpoint - Neusoft Group has been selected as a designated supplier for a well-known domestic automotive manufacturer to provide intelligent cockpit domain controllers, with an estimated total value of approximately 4.2 billion yuan over a product lifecycle of about 6 years, starting from 2026 to 2027 [1][2]. Group 1: Partnership and Product Details - The intelligent cockpit domain controller will be based on Qualcomm's platform, integrating AI computing power and multimodal large model technology to enhance interaction experience and multitasking capabilities [2]. - Neusoft Group has a long-standing cooperative relationship with the automotive manufacturer, with its intelligent cockpit and communication products already applied in several mainstream models [2]. - The project represents a deepening of the long-term partnership and is a recognition of Neusoft's core products and technological strength in automotive intelligence [2]. Group 2: Market Position and Competitive Advantage - Neusoft Group has over 30 years of experience in the automotive electronics sector, providing a range of products including intelligent cockpit domain controllers and IVI in-vehicle infotainment systems [1]. - In 2024, Neusoft Group is expected to lead the competitiveness ranking of domestic suppliers for high-end intelligent cockpit domain control platforms, thanks to its advantages in supplying the first mass-produced cockpit based on Qualcomm 8295 [1]. - The company has also received a previous notification from another major automotive manufacturer for a similar project, involving an estimated total value of approximately 5.6 billion yuan over a product lifecycle of about 4 years, starting from the fourth quarter of 2026 [3].

Key Points - CICC plans to absorb and merge with Dongxing Securities and Xinda Securities, with stock suspension starting from November 20 [1] - Saiwu Technology has delivered a small batch of perovskite stacked component light-transmitting films, with minimal impact on performance [1] - Zhongfu Industrial intends to invest 259 million yuan in a green manufacturing project for aluminum-based new materials [1] - Zhaomin Technology plans to issue convertible bonds to raise no more than 590 million yuan [1] - Jinbei Automotive aims to invest a total of 158 million yuan to acquire 52% equity in Zhongtuo Technology [1][2] - Pro Pharmaceutical plans to repurchase company shares worth between 180 million and 360 million yuan [2] - Sudar Co. plans to reduce its stake by no more than 3% [2] - Yandong Micro and the National Integrated Circuit Fund plan to collectively reduce their stake by no more than 2.5% [2] - Fuguang Co.'s controlling shareholder plans to increase its stake by 80 million to 150 million yuan [2] - Dongsoft Group has received a notification from an automotive manufacturer for designated cooperation [1][2]