Core Viewpoint - Hengwei Technology announced plans to acquire 75% of Shanghai Shuhang Information Technology Co., Ltd. through a combination of share issuance and cash payment, while also raising additional funds through share issuance [2] Group 1: Transaction Details - The transaction is expected not to constitute a major asset restructuring based on preliminary assessments [2] - The company and relevant parties are actively advancing the transaction and are in discussions to finalize the transaction plan [2] Group 2: Stock Suspension - Due to the uncertainties surrounding the transaction, the company's A-share stock will continue to be suspended from trading [2] - The company will fulfill its information disclosure obligations in a timely manner based on the progress of the related matters during the suspension period [2]

Group 1 - The core principle of the current AI industry is that the focus is shifting from selling tools to selling results, leading to a growing interest in the "pay for results" model [2][3] - Hengwei Technology announced a suspension of trading to plan the acquisition of 75% of Shanghai Shuhang Information, marking the first A-share listed company to incorporate the AI RaaS (Result as a Service) model into its core strategy [2][4] - The AI RaaS model emphasizes quantifiable business outcomes, requiring service providers to be accountable for achieving agreed results, thus transforming the traditional service delivery approach [3][4] Group 2 - AI RaaS is reshaping the underlying logic of business by shifting the focus from model parameters to measurable value creation, facilitating a cognitive revolution from "buying tools" to "buying results" [4][5] - The model allows for a deeper integration of AI into core profit pools, which traditionally cover only 1%-2% of enterprise revenue, while AI RaaS can tap into areas accounting for 20%-60% of revenue, creating a significant value gap [4][5] - The acquisition of Shuhang Information by Hengwei Technology aims to create an ecosystem that combines computing power with practical applications, enhancing the overall value proposition in the AI RaaS market [7][8] Group 3 - The success of AI RaaS requires service providers to possess not only technical capabilities but also a deep understanding of user needs and industry-specific knowledge [5][6] - The analogy of electricity illustrates that the true value of AI lies in its application across various scenarios, rather than just the technology itself [6][7] - The partnership between Hengwei Technology and Shuhang Information is expected to significantly reduce the cost of AI solutions, particularly in regulated sectors like finance and government [8]

证券代码：603496 证券简称：恒为科技 公告编号：2025-052 恒为科技（上海）股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套资金事项 的停牌进展公告 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。 恒为科技（上海）股份有限公司（以下简称"恒为科技"或"公司"）正在 筹划以发行股份及支付现金的方式购买上海数珩信息科技股份有限公司（以下 简称"数珩科技"或"标的公司"）75%股份，同时公司拟发行股份募集配套资 金（以下简称"本次交易"）。根据《上市公司重大资产重组管理办法》等相关 规定，经初步测算，本次交易预计不构成重大资产重组。如本报告期内本次交 易未实施完成而延期至下一报告期，以最近一期未经审计的财务数据测算，可 能会构成重大资产重组，如构成重大资产重组，则将会按照相关规则履行审议 及披露程序，敬请广大投资者注意投资风险。 根据《上海证券交易所股票上市规则》等相关法规，本次交易预计不构成 关联交易。本次交易不会导致公司控股股东、实际控制人变更，不构成重组上 市。 因有关事项尚存在不确定性，为保证公平信息披 ...

证券代码：603496 证券简称：恒为科技 公告编号：2025-053 恒为科技（上海）股份有限公司 关于本次交易停牌前一个交易日 截至 2025 年 9 月 16 日，公司股本总数为 320,209,243 股，均为无限售条件流 通股，公司前十大股东及前十大流通股股东数据一致，其持股情况如下： | 序号 | | 股东名称 | 持有数量 | 占总股本比例 | | --- | --- | --- | --- | --- | | | | | （股） | （%） | | 1 | 沈振宇 | | 44,096,777 | 13.77 | | 2 | 胡德勇 | | 22,102,562 | 6.90 | | 3 | 王翔 | | 17,374,944 | 5.43 | | 4 | 张诗超 | 10,635,443 | 3.32 | | --- | --- | --- | --- | | 5 | 黄琦 | 5,444,754 | 1.70 | | 6 | 上海迎水投资管理有限公司－迎水合力 12 号私募证券投资基金 | 5,030,342 | 1.57 | | 7 | 香港中央结算有限公司 | 4,734,244 | ...

Group 1 - Seven stocks, including Galaxy Magnetics, New Dazheng, and Hengwei Technology, were suspended from trading on September 23 [1]

Core Viewpoint - Hengwei Technology's acquisition of 75% of Shuhang Technology marks the first case of a listed company in the A-share market planning to acquire an AI RaaS (Result as a Service) target, indicating a shift in AI industry competition from computing power to application implementation [1] Group 1: Acquisition Details - Hengwei Technology has been deeply involved in network visualization and intelligent system platforms, and is now expanding into AI infrastructure and solutions [2] - Shuhang Technology, established in 2017, is a leading provider of enterprise-level scenario-based AI solutions, having achieved rapid revenue and profit growth over the past three years [2][3] - The acquisition aims to enhance Hengwei's AI strategy by integrating Shuhang's capabilities, allowing for a complete chain from computing power provision to application implementation [3] Group 2: AI RaaS Model - The AI RaaS model, which focuses on quantifiable business outcomes, is expected to become a competitive area for listed companies, as it helps enterprises achieve digital transformation and improve efficiency [4] - Traditional AI services often fail to deliver clear business returns, leading to hesitance among enterprises to invest in AI; the AI RaaS model addresses this issue by holding service providers accountable for business results [4][5] - AI RaaS can tap into 20%-60% of core profit pools in various sectors, significantly outperforming traditional SaaS, which only covers 1%-2% [5] Group 3: Industry Trends - The competition in the AI sector is shifting from a focus on computing power to the ability to implement solutions in specific scenarios, with a growing emphasis on model efficiency and industry-specific applications [6] - Shuhang Technology's self-developed S-GPT model and Langtree platform enable a full process from data preparation to deployment, showcasing the effectiveness of the AI RaaS model [6] - The acquisition reflects a broader trend in the AI industry towards application competition, with Hengwei aiming to build a "computing power + application" ecosystem [7]

Core Viewpoint - Hengwei Technology's acquisition of 75% of Shuhang Technology marks the first case of a listed company in the A-share market planning to acquire an AI RaaS (Result as a Service) target, indicating a shift in AI industry competition from computing power to application implementation [2] Group 1: Acquisition Details - Hengwei Technology is planning to acquire 75% of Shuhang Technology, a leading enterprise-level AI solution provider, which has shown rapid growth in revenue and profit over the past three years [3][4] - Shuhang Technology's S-GPT AI engine integrates business strategies with localized deployment, enabling the application of large model technology in various industry scenarios [3][4] Group 2: AI RaaS Model - The AI RaaS model, which focuses on quantifiable business outcomes, is becoming a new trend in the industry, allowing companies to provide scenario-based AI solutions that help businesses achieve digital transformation [5][6] - Traditional AI services often fail to deliver clear business returns, leading to a cautious approach from enterprises; AI RaaS changes this by holding service providers accountable for business results [5][6] Group 3: Market Implications - The acquisition signals a growing interest among listed companies in AI RaaS due to its potential to directly drive performance growth, with AI RaaS capable of tapping into 20%-60% of core profit pools compared to just 1%-2% for traditional SaaS [6] - The shift in AI competition is moving towards application capabilities, with a focus on model efficiency and industry-specific needs, as seen in Shuhang Technology's ability to address diverse industry demands [7][9] Group 4: Strategic Importance - The acquisition is not just about business expansion; it aims to build a "computing power + application" ecosystem, leveraging Shuhang's industry experience to explore new markets while reducing client costs through deep integration of hardware and AI models [8][9] - Successful integration of resources, technology collaboration, and market development will be crucial for the success of this acquisition and the broader AI industry [9]

更多集体接待日详情，请点击：https://rs.p5w.net/html/175611728073329.shtml 恒为科技在2025年上海辖区上市公司集体接待日暨中报业绩说明会活动上回答投资者提问称，公司与华 为昇腾的生态合作主要体现在：基于昇腾算力集群的运营，客户模型优化与训练；以及基于昇腾的推算 算力一体机等方面。昇腾950是华为近期新发布的产品规划，目前还未向市场投放，我们关注华为昇腾 新一代架构GPU的发布与应用，期待能进一步与相关AI芯片的系统架构上展开更深入合作。 ...

Core Viewpoint - Hengwei Technology is planning to acquire a controlling stake in Shanghai Shuhang Information Technology Co., Ltd. to extend its AI strategy, marking the first case of an A-share listed company acquiring an AI RaaS target, which is seen as a strategic positioning move in the AI industry [1][5]. AI Strategy Extension - Hengwei Technology announced on September 16 that it is planning to purchase 75% of Shanghai Shuhang's shares through a combination of issuing shares and cash, while also raising matching funds through share issuance. This transaction is not expected to constitute a major asset restructuring [2]. - Shanghai Shuhang, established in 2017, began training a locally deployable S-GPT large model in 2022 and completed its localized deployment in March 2023. The company has developed a series of advanced AI applications based on customer demand scenarios [2]. - The acquisition aligns with Hengwei Technology's focus on upgrading and expanding its AI computing capabilities, as both companies have complementary strengths in AI infrastructure and application [2]. Innovative Business Model - The AI industry is still in its early stages, with few AI software and service companies achieving profitability. However, Shanghai Shuhang has already realized significant profitability, with rapid growth in revenue and profit over the past three years [3]. - Shanghai Shuhang is innovating its business model by practicing AI RaaS, which is seen as a potential final model for AI application implementation. This model shifts the value perception for customers from "buying tools" to "buying results," allowing for a significant increase in the revenue share from 1%-2% to over 20% [3]. Comprehensive Capability - Shanghai Shuhang has built a comprehensive capability from foundational models to practical applications, serving numerous brand companies across various industries such as fast-moving consumer goods, automotive, finance, education, and human resources [4]. - The company expects to see the effects of its data-driven business model starting in 2025, leading to increased revenue and improved profit margins through deep customer engagement and operational efficiency [4]. Strategic Positioning - The acquisition is not only about business synergy but also about capturing industry trends, with Hengwei Technology aiming to establish a significant first-mover advantage in the AI application sector [5][6]. - First movers in the AI application field benefit from advantages in technological advancement and customer loyalty, with the potential to create sustainable competitive barriers through deep integration of AI RaaS into client production systems [6].

Group 1 - Eight stocks, including Galaxy Magnetics, New Dazheng, and Hengwei Technology, were suspended from trading on September 19 according to Wind data [1]