Core Viewpoint - The company plans to acquire 75% of Shanghai Shuhang Information Technology Co., Ltd. through a combination of issuing shares and cash payment, which will extend its product and business layout into downstream AI application fields [1] Group 1 - The acquisition involves a significant stake of 75% in Shanghai Shuhang Information Technology Co., Ltd. [1] - The transaction will be executed through a mix of share issuance and cash payment [1] - Post-transaction, the company's focus will shift towards downstream AI applications [1]

Core Viewpoint - Hengwei Technology (603496.SH) is planning to acquire 75% of Shanghai Shuhang Information Technology Co., Ltd. through a combination of issuing shares and cash payment, along with raising supporting funds for the transaction [1][6]. Company Overview - Hengwei Technology, established in 2003 and listed on the Shanghai Stock Exchange in 2017, had a market capitalization of 10.33 billion yuan before its stock suspension. The company operates primarily in two segments: network visualization and intelligent system platforms [5]. - In the first half of 2025, Hengwei Technology faced significant performance challenges, with revenue of 488 million yuan, a year-on-year decline of 23.19%, and a net profit of 17.82 million yuan, down 75.16% year-on-year [5]. Acquisition Details - The acquisition will allow Hengwei Technology to gain control over Shuhang Technology, which specializes in enterprise-level AI solutions. The deal is expected to enhance Hengwei's AI strategy [2][10]. - The transaction is not anticipated to constitute a major asset restructuring unless it is delayed beyond the current reporting period [7]. Shuhang Technology Profile - Founded in December 2017, Shuhang Technology focuses on localized AI solutions for enterprises, with a mission to apply GPT technology in business scenarios. The company has developed several proprietary technologies, including the S-GPT AI engine [9][10]. - Shuhang Technology has received various qualifications, including high-tech enterprise status, and holds numerous intellectual property rights [12]. Industry Context - The demand for scenario-based AI solutions is surging as enterprises undergo digital transformation. IDC predicts that the market for AI enterprise applications in China will exceed 300 billion yuan by 2025, with a compound annual growth rate of over 30% [13][14]. - The acquisition reflects a shift in the AI industry towards practical applications, with a focus on quantifiable commercial value becoming a key investment criterion [17]. Strategic Synergies - The acquisition aims to leverage the strengths of both companies, combining Hengwei's AI infrastructure with Shuhang's localized AI engine to create a synergistic effect [16]. - The customer bases of both companies are expected to complement each other, providing opportunities for cross-selling [16]. Challenges Ahead - Integrating a hardware company with a software company presents challenges, particularly in aligning organizational culture and management practices. Retaining Shuhang's core technical team and fostering innovation will be crucial for the success of the merger [17].

Core Insights - The AI industry is shifting from a focus on computational power to application implementation, as evidenced by Hengwei Technology's acquisition of 75% of Shuhang Information, marking the first AIRaaS acquisition in the A-share market [1][4] - Hengwei Technology's previous focus was on hardware solutions, but the need for quantifiable business outcomes has led to a strategic pivot towards service-oriented models [1][3] Company Overview - Shuhang Information, established in 2017, specializes in binding large model technology with industry scenarios, offering a full-process solution from data preparation to deployment through its proprietary S-GPTAI engine and Langtree model orchestration platform [2] - The company has experienced rapid revenue and profit growth over the past three years, serving various industries including fast-moving consumer goods, automotive, and finance [2] AIRaaS Model - The AIRaaS model aims to address the growth challenges faced by traditional AI service companies, which often struggle with implementation and measurable results, leading to client hesitance [3] - Unlike traditional models that charge for software licenses or human resources, AIRaaS focuses on quantifiable business outcomes, charging clients only upon achieving agreed results, thus creating a "results-based" service model [3] - This model allows for access to a core profit pool that constitutes 20%-60% of enterprise revenue, significantly higher than the 1%-2% covered by traditional digital services, presenting a substantial value opportunity for companies like Shuhang Information and hardware manufacturers like Hengwei Technology [3] Industry Trends - The acquisition reflects a broader trend in the AI industry, where competition is expected to shift from computational power to the ability to implement solutions in specific business contexts by 2025 [4] - As AI technology becomes more accessible, the focus will increasingly be on understanding industry needs and adapting models to meet those demands, moving away from a purely parameter-driven approach [4] - The ultimate impact of this acquisition will require time to assess, particularly regarding the integration of technologies and resources, as well as the ability to create differentiated advantages in the market [4]

Wind数据显示，9月24日，银河磁体、新大正、恒为科技等9只个股停牌。 ...

Group 1 - The company is planning to acquire 75% of Shanghai Shuhang Information Technology Co., Ltd. through a combination of issuing shares and cash payment, while also raising matching funds [1][6] - The transaction is not expected to constitute a major asset restructuring based on preliminary calculations, but if it is delayed into the next reporting period, it may be classified as such [1][3] - The company’s stock was suspended from trading on September 17, 2025, to ensure fair information disclosure and prevent abnormal stock price fluctuations [2][6] Group 2 - As of the announcement date, the transaction is still in the planning stage, and no formal agreements have been signed yet [3] - The transaction requires approval from the company's board of directors, shareholders, and relevant regulatory authorities before it can be officially implemented [3] - The total number of shares outstanding for the company is 320,209,243, all of which are freely tradable [7]

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]