Core Points - The company will hold its Q3 2025 earnings briefing on October 30, 2025, with Chairman Yan Zhongwen in attendance [1] - For the first three quarters of 2025, the company achieved a revenue of 314 million yuan, representing a year-on-year growth of 18.10% [1] - The core business segment, "self-developed database products and services," generated revenue of 143 million yuan, showing a significant year-on-year increase of 50.89%, contributing to a gross profit margin of 78% [1] - Despite the revenue growth, the company reported a net loss of 75.4281 million yuan due to ongoing investments in research and development as well as marketing [1] - As of September 30, the company had approximately 571 million yuan in cash assets, accounting for 55.57% of its total assets [1]

Summary of Key Points from the Conference Call Company Overview - The company discussed is **海量数据 (Massive Data)**, focusing on its performance in the third quarter of 2025 and its strategic initiatives in the database and infrastructure solutions sectors. Financial Performance - In Q3 2025, the company reported revenue of **314 million yuan**, representing an **18% year-over-year increase** [2][3] - Revenue from the database software business reached **143 million yuan**, with a **50.8% year-over-year growth**, achieving a gross margin of **69%** [2][3] - The company aims for an annual revenue target of **over 500 million yuan** for 2025, with a significant backlog of orders [2][4] - The overall gross margin for the company was reported at **40.5%**, with expectations to improve to **45% by year-end** [3][9] Business Segments - The business is primarily divided into two segments: **self-developed database software and services**, and **infrastructure solutions** [3] - The database business is expected to grow at an annual rate of **40% from 2025 to 2028**, potentially reaching **500-600 million yuan** in revenue by 2028 [2][8] - The hardware business is projected to maintain a revenue level of around **200 million yuan** [2][8] Strategic Partnerships and Ecosystem Development - The company has established partnerships with various OA software vendors and hardware manufacturers, including **致远, 泛微, 蓝凌, 用友, and 金蝶** [2][5] - Significant progress has been made in the ecosystem, with collaborations in the healthcare sector and other industries [5][6] Market Opportunities and Growth Drivers - The company is actively pursuing opportunities in the **government and enterprise digital transformation (信创)** market, with successful bids in regions like **广东, 河北, and 湖北** [3][10] - The company has secured contracts with major clients, including **央企 (central enterprises)** and various provincial operators [10][11] Competitive Landscape - The company faces competition from other database providers such as **达梦, 金仓, and 华为** [11][18] - The pricing strategy is competitive, with the company's centralized database priced between **40,000 to 50,000 yuan**, which is lower than some competitors [16][17] Future Outlook - The company anticipates significant growth in both the government and industry信创 sectors, with expectations for **40% growth in 2026** [22] - The focus will also be on enhancing product offerings and reducing losses to achieve profitability by **2027 or 2028** [9][22] Additional Insights - The company is exploring the **vector database** market, which is expected to grow at a rate of **20% this year**, driven by demand in AI and machine learning applications [7][20] - The company has a strong technical foundation, with its vector database development led by a team from **Tsinghua University** [21] This summary encapsulates the key points discussed in the conference call, highlighting the company's financial performance, strategic initiatives, market opportunities, and competitive positioning.

Group 1 - The financial industry is undergoing a digital and intelligent transformation, which is driving business innovation and improving service quality while also changing risk patterns and security boundaries [1] - Financial regulatory bodies need to enhance their digital intelligence levels and establish regulatory mechanisms that align with the development of digital technologies to effectively balance financial innovation and risk prevention [1] - The use of big data analysis technology reduces the difficulty of risk prediction, allowing financial institutions to quantify potential risks and implement timely interventions [1] Group 2 - Digital technology is changing the transmission paths and speed of financial risks, with risks potentially spreading rapidly across platforms and ecosystems [2] - The collaboration between banks and third-party service providers, such as cloud service and fintech companies, increases the risk spillover effects [2] - The widespread use of homogeneous algorithms and models may lead to a "herding effect," increasing the probability of market resonance and pro-cyclical risks [2] Group 3 - Systematic promotion of financial legal construction is crucial for risk prevention and collaborative governance in the digital age [3] - Regulatory bodies are encouraged to innovate friendly regulations that manage risks while allowing sufficient space for financial innovation [3] - The ultimate goal of regulation is to enable finance to better serve the real economy and promote national economic development [3]

Core Insights - The company won a gold and bronze award at the 2025 Modern Advertising Awards for its Apple Ads case studies, showcasing its strategic partnership with Alibaba Cloud and recognition from companies like NetEase Games and 58.com [1] - The company's intelligent marketing system is built on vast data resources, processing trillions of user behavior data daily, which forms a data asset of billions, enabling precise marketing strategies [1][2] Group 1: Awards and Recognition - The company received a gold award for its project with NetEase Games and a bronze award for its project with 58.com at the 2025 Modern Advertising Awards [1] - The awards highlight the company's capabilities in managing advertising costs and expanding traffic in competitive environments [1] Group 2: Intelligent Marketing System - The company’s intelligent marketing system leverages extensive data (603138) to enhance advertising efficiency and control customer acquisition costs [1] - The platform processes vast amounts of user behavior data, creating a comprehensive data asset that supports targeted marketing efforts [1] Group 3: AI Technology Integration - The integration of Alibaba's AI model has significantly enhanced the company's advertising platform, enabling automated and precise ad placements [2] - The platform features ROI prediction, real-time bidding, and dynamic budget adjustment models, optimizing advertising strategies based on real-time data [2] Group 4: Revenue Growth Projections - The company experienced over 400% revenue growth in overseas markets in the first half of 2025, with expectations for continued acceleration in the second half [2] - The company aims for a 50% increase in global revenue for 2025, targeting a revenue goal of 4 billion yuan [2]

Core Insights - Google has launched a new Bigtable storage layer aimed at efficiently managing massive datasets, which is currently available in preview [1] Group 1 - The new Bigtable storage layer is designed to enhance data management capabilities for large-scale applications [1] - This initiative reflects Google's ongoing commitment to improving cloud services and data handling solutions [1] - The preview version allows users to test the new features and provide feedback for further development [1]

证券代码：603138 证券简称：海量数据 公告编号：2025-069 北京海量数据技术股份有限公司 2023 年限制性股票激励计划第一期解除限售 暨股票上市公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 5,225,860股。 本次股票上市流通总数为5,225,860股。 本次股票上市流通日期为2025 年 10 月 31 日。 北京海量数据技术股份有限公司（以下简称"公司"）于2025年10月21日召 开第四届董事会第十七次会议，审议通过了《公司2023年限制性股票激励计划第 一个解除限售期解除限售条件成就的议案》。根据《公司2023年限制性股票激励 计划》（以下简称"《激励计划》"、"本激励计划"）的规定，本激励计划授 予的限制性股票第一个解除限售期解除限售条件已成就，现将有关情况公告如下： 一、本次限制性股票激励计划批准及实施情况 6、2024 年 4 月 17 日及 2024 年 5 月 9 日，公司第四届董事会第八次会议及公 ...

中国北京建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-14thFloor,ChinaWorldOffice2,No.1JianguomenwaiAvenue,Beijing100004,China 电话 Tel:+861065637181 传真 Fax:+861065693838 电邮 Email:beijing@tongshang.com 网址 Web:www.tongshang.com 关于北京海量数据技术股份有限公司 2023 年限制性股票激励计划第一个解除限售期解除限售条件达成及 回购注销部分限制性股票的 法律意见书 致：北京海量数据技术股份有限公司 北京市通商律师事务所(以下简称"本所")接受北京海量数据技术股份有限 公司(以下简称"公司")的委托，作为公司实施的 2023 年限制性股票激励计划 (以下简称"本次激励计划"或"激励计划")的专项法律顾问。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》")、《上市公司股权激励管理办法》(以下简称"《管理办法》") 等中国现行法律、行政法规、规范性文件和《北京海量数 ...

使用部分闲置募集资金进行现金管理到期赎回的公告 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。 北京海量数据技术股份有限公司（以下简称"公司"）于 2024 年 4 月 17 日 召开第四届董事会第八次会议审议通过了《使用部分闲置募集资金进行现金管理 的议案》。同意公司使用额度不超过人民币 24,000 万元的闲置募集资金购买安全 性高、流动性好、具有合法经营资格的金融机构销售的大额存单、结构性存款等 保本型产品，在上述额度范围内资金可滚动使用，使用期限自董事会审议通过之 日起十二个月内有效。 公司又于 2025 年 4 月 16 日召开第四届董事会第十二次会议审议通过了《使 用部分闲置募集资金进行现金管理的议案》。同意公司使用额度不超过人民币 15,000 万元的闲置募集资金购买安全性高、流动性好、具有合法经营资格的金 融机构销售的大额存单、结构性存款等保本型产品，在上述额度范围内资金可滚 动使用，使用期限自董事会审议通过之日起十二个月内有效。 具体内容详见公司于 2024 年 4 月 19 日在指定信息披露媒体披露的《公司 ...

北京海量数据技术股份有限公司 董事会薪酬与考核委员会关于公司 2023年限制性股票激励计划 第一个解除限售期解除限售条件成就的核查意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股权 激励管理办法》等法律法规、规范性文件及公司《2023年限制性股票激励计划 (草案)》的有关规定,北京海量数据技术股份有限公司(以下简称"公司") 董事会薪酬与考核委员会对公司 2023年限制性股票激励计划第一个解除限售期 解除限售条件成就事项进行了核查,并发表如下意见: 公司 2023 年限制性股票激励计划第一个解除限售期的解除限售条件已成就, 本次解除限售事项符合《上市公司股权激励管理办法》及公司《2023年限制性股 票激励计划(草案)》的有关规定;本次解除限售的激励对象主体资格合法、有 效。根据公司 2023年第二次临时股东大会授权,可以按照相关规定解除限售。 本次对各激励对象解除限售安排未违反有关法律、法规的规定,不存在损害公司 及全体股东利益的情形;同意公司对本激励计划授予的 103 名激励对象办理限制 性股票解除限售相关事宜,对应的解除限售股票数量为 5,225,860 股。 (以下无正文) 北京海 ...

Group 1 - Sanwang Communication plans to repurchase shares worth 20-40 million yuan for employee stock incentive plans [1] - Ankrui reported a net profit of 192 million yuan for the first three quarters, a year-on-year increase of 21.31% [1] - Taishan Petroleum's net profit for the first three quarters reached 113 million yuan, up 112.32% year-on-year [1] - Zhejiang Xiantong achieved a net profit of 152 million yuan for the first three quarters, a 17.4% increase year-on-year [1] Group 2 - Xuanji Information reported a net loss of 173 million yuan for the first three quarters [1] - Mailande's net profit slightly decreased by 0.07% to 96 million yuan for the first three quarters [1] - Tengjing Technology's subsidiary received a sales order worth 87.61 million yuan [1] Group 3 - Hotgen Biotech's affiliate achieved positive results in Phase Ib clinical trials for the innovative drug SGC001 [1] - Zhongyan Dadi won a bid for a sports project in Beijing worth 74.04 million yuan [1] - Henghui Security's net profit decreased by 12.85% to 81.98 million yuan for the first three quarters [1] Group 4 - Xiongdi Technology's net profit increased by 71.16% to 18.38 million yuan for the first three quarters [1] - Meilixin reported a net loss of 215 million yuan for the first three quarters [1] - Haichen Pharmaceutical's net profit grew by 16.22% to 32.68 million yuan for the first three quarters [1] Group 5 - Qiaoyuan Co. reported a net profit of 181 million yuan for the first three quarters, a 40.54% increase year-on-year [1] - Fuda Co. achieved a net profit of 221 million yuan for the first three quarters, up 83.27% year-on-year [1] - Xianggang Technology's net profit surged by 186.19% to 95.47 million yuan for the first three quarters [1] Group 6 - ST Nanchuan received a restriction order from the court due to a financial dispute [1] - Changyou Technology announced the dismissal of two vice presidents [1] - Haoyuan Automotive received a project confirmation for an automatic parking system worth 576 million yuan [1] Group 7 - Jiuzhou Biotech obtained a medical device registration certificate for a diagnostic kit [1] - Shihua Machinery signed an investment intention letter for a subsidiary's capital increase [1] - Zhuhai Mian Group plans to transfer 100% equity of Gree Real Estate [1] Group 8 - Dalian Heavy Industry reported a net profit of 490 million yuan for the first three quarters, a 23.97% increase year-on-year [1] - Haimeng Data reported a net loss of 75.43 million yuan for the first three quarters [1] - Feilong Co. achieved a net profit of 287 million yuan for the first three quarters, a 7.54% increase year-on-year [1] Group 9 - Kaipu Testing reported a net profit of 57.84 million yuan for the first three quarters, a 3.34% increase year-on-year [1] - Ganyue Express signed a strategic cooperation agreement with a major energy company [1] - Tuoshan Heavy Industry's controlling shareholder plans to reduce its stake by 2.82% [1] Group 10 - Yiatong's shareholder plans to reduce its stake by 1% [1] - Weishi Electronics reported a net profit of 24.29 million yuan for the first three quarters, a 22.59% decrease year-on-year [1] - Shensi Electronics won a bid for a data space construction project worth 161 million yuan [1] Group 11 - Xiechuang Data plans to purchase server assets worth up to 4 billion yuan [1] - Shandong Express's controlling shareholder plans to transfer 7% of its shares [1] - ST Huapeng's subsidiary received a government subsidy of 4.65 million yuan [1] Group 12 - Jieqiang Equipment's shareholder plans to reduce its stake by 1% [1] - China Jushi reported a net profit of 2.568 billion yuan for the first three quarters, a 67.51% increase year-on-year [1] - ST Fanli reported a net loss of 44.78 million yuan for the first three quarters [1] Group 13 - Xiyu Tourism reported a net profit of 98.58 million yuan for the first three quarters, a 14.51% decrease year-on-year [1] - Abison reported a net profit of 185 million yuan for the first three quarters, a 57.33% increase year-on-year [1] - Huayan Precision reported a net profit of 70.76 million yuan for the first three quarters, a 31.07% increase year-on-year [1] Group 14 - Jiangling Motors reported a net profit of 74.9 million yuan for the first three quarters, a 35.76% decrease year-on-year [1]