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]

Core Viewpoint - The company is actively collaborating with Huawei's Ascend ecosystem, focusing on optimizing and training customer models based on Ascend computing clusters, as well as developing integrated computing power machines based on Ascend technology [1] Group 1 - The company participated in the 2025 Shanghai-listed companies collective reception day and mid-year performance briefing [1] - The collaboration with Huawei's Ascend primarily involves operations based on Ascend computing clusters [1] - The Ascend 950 is a newly released product from Huawei, which has not yet been launched in the market [1] Group 2 - The company is looking forward to the release and application of Huawei's next-generation architecture GPU and anticipates deeper collaboration on related AI chip system architectures [1]

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]

证券代码：603496 证券简称：恒为科技公告编号：2025-051 恒为科技（上海）股份有限公司 关于公司为全资子公司进行担保事项的进展公告 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。 重要内容提示： ● 被担保人名称：上海恒为云驰信息技术有限公司（以下简称"恒为云驰"），恒为云驰为恒为科技（上 海）股份有限公司（以下简称"公司"或"本公司"）的全资子公司。 ● 本次担保金额及已实际为其提供的担保余额：公司本次为恒为云驰担保金额为1,000万元。截至本公 告日，公司累计为恒为云驰提供的担保余额为人民币1,000万元（含本次担保），占公司2024年度经审 计净资产的比例为0.74%。 ● 对外担保是否有反担保：无 2025年9月18日，公司的全资子公司恒为云驰与上海银行股份有限公司徐汇支行（以下简称"上海银行徐 汇支行"）签署《小企业流动资金借款合同》（以下简称"《借款合同》"），向银行申请人民币借款 1,000万元，借款期限为12个月。 满足恒为云驰经营和业务发展需求，保证其生产经营活动的顺利开展，公司对上述银行借款提供 ...

证券日报网讯9月18日晚间，恒为科技（603496）发布公告称，公司不存在对全资子公司以外的担保对 象提供担保的情形，不存在担保逾期的情形。 ...

Core Viewpoint - Hengwei Technology is planning to acquire 75% of Shuhang Technology, aiming to create a strong synergy between a leading network visualization hardware company and an enterprise-level AI solution provider, enhancing the application of AI technology in various industries [1][3]. Group 1: Acquisition Details - Hengwei Technology announced the acquisition of 75% equity in Shuhang Technology, with its stock entering a trading suspension [1]. - The acquisition is expected to create a complete closed loop from infrastructure to application scenarios for AI technology [1]. Group 2: Shuhang Technology Overview - Founded in 2017, Shuhang Technology specializes in enterprise-level scenario-based AI solutions, focusing on applying GPT technology to business scenarios [1][2]. - The company has developed a comprehensive product matrix, including AIGC multimodal models for content creation, interactive service robots, AI training systems, and customized knowledge management solutions [2]. Group 3: Strategic Synergy - The strategic combination of Hengwei Technology and Shuhang Technology creates a new paradigm of industrial collaboration, integrating hardware and software capabilities [3]. - Hengwei Technology has a strong foundation in network visualization and intelligent systems, while Shuhang Technology offers innovative scenario-based AI solutions, forming a technological closed loop [3]. - The customer bases of both companies complement each other, with Hengwei serving industries like information security and Shuhang focusing on fast-moving consumer goods and finance, enabling cross-selling opportunities post-acquisition [3].

关于公司为全资子公司进行担保事项的进展公告 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。 重要内容提示： 被担保人名称：上海恒为云驰信息技术有限公司（以下简称"恒为云驰"）， 恒为云驰为恒为科技（上海）股份有限公司（以下简称"公司"或"本公司"） 的全资子公司。 本次担保金额及已实际为其提供的担保余额：公司本次为恒为云驰担保 金额为 1,000 万元。截至本公告日，公司累计为恒为云驰提供的担保余额为人民 币 1,000 万元（含本次担保），占公司 2024 年度经审计净资产的比例为 0.74%。 对外担保是否有反担保：无 对外担保逾期的累计数量：无 一、 担保情况概述 （一）担保基本情况 证券代码：603496 证券简称：恒为科技 公告编号：2025-051 恒为科技（上海）股份有限公司 2025 年 9 月 18 日，公司的全资子公司恒为云驰与上海银行股份有限公司徐 汇支行（以下简称"上海银行徐汇支行"）签署《小企业流动资金借款合同》（以 下简称"《借款合同》"），向银行申请人民币借款 1,000 万元，借款期限为 12 ...

Core Viewpoint - Hengwei Technology is seeking to overcome its declining operating performance through an external acquisition of 75% of Shanghai Shuhang Information Technology Co., Ltd. (Shuhang Technology), a leading enterprise-level AI solution provider focused on GPT technology applications [1][5]. Group 1: Acquisition Details - Hengwei Technology plans to issue shares and pay cash to acquire 75% of Shuhang Technology, with additional funds raised to support the transaction [1][5]. - The acquisition is seen as a strategic move to enhance Hengwei's AI capabilities and digital transformation offerings [1][10]. - The stock of Hengwei Technology has been suspended from trading due to the ongoing acquisition planning, with an expected suspension period of no more than 10 trading days [5]. Group 2: Financial Performance - Hengwei Technology reported a net profit of 26.84 million yuan for 2024, a significant decline of 65.92% year-on-year, and a further drop of approximately 75% in the first half of 2025, with a net profit of 17.82 million yuan [3][9]. - The company's revenue for 2024 was 1.117 billion yuan, reflecting a year-on-year growth of 44.83%, but the revenue for the first half of 2025 decreased by 23.19% to 488 million yuan [9]. - The decline in net profit is attributed to reduced orders in the intelligent system platform business and a decrease in overall gross margin due to product structure issues [9]. Group 3: Company Background and Market Position - Hengwei Technology, established in 2003, specializes in intelligent system solutions and has a significant presence in the network visualization sector [8]. - The company has been a pioneer in integrating AI technology into network visualization, enhancing its competitive edge in the market [8][9]. - Despite its leading position, Hengwei Technology faces increasing market competition, which has pressured its financial performance [9].