本次发行预计募集资金总额为不超过人民币100,000.00万元(含)，扣除发行费用后拟用于"灵擎"工业AI 赋能平台建设项目、"灵助"工业软件AI工具集开发项目、"灵智"具身智能AI训推平台研发项目、补充流 动资金。 中国经济网北京10月13日讯能科科技（603859）(603859.SH)10日晚披露2025年度向特定对象发行A股股 票预案，本次发行的对象为包括公司实际控制人之一赵岚在内的不超过35名(含)特定投资者。除赵岚外 的发行对象须为符合中国证监会规定的证券投资基金管理公司、证券公司、信托公司、财务公司、资产 管理公司、保险机构投资者、合格境外机构投资者、其他境内法人投资者、自然人或其他合格投资者。 证券投资基金管理公司、证券公司、理财公司、保险公司、合格境外机构投资者、人民币合格境外机构 投资者以其管理的2只以上产品认购的，视为一个发行对象；信托公司作为发行对象的，只能以自有资 金认购。赵岚的认购款总额为3,000万元。 本次发行的定价基准日为发行期首日，发行价格不低于定价基准日前20个交易日公司股票交易均价的 80%。 本次发行的股票种类为境内上市的人民币普通股(A股)，每股面值人民币1.00元 ...

Group 1 - The core point of the article highlights the recent performance of Nengke Technology, which saw a 5.16% increase in stock price, reaching 50.34 CNY per share, with a trading volume of 399 million CNY and a turnover rate of 3.39%, resulting in a total market capitalization of 12.318 billion CNY [1] - Nengke Technology, established on December 26, 2006, and listed on October 21, 2016, focuses on industries such as national defense, high-tech electronics, 5G, automotive and rail transportation, and equipment manufacturing, while also expanding into new energy, consumer goods, and infrastructure sectors [1] - The company's revenue composition includes cloud products and services (30.35%), industrial engineering and electrical products and services (30.24%), software systems and services (20.90%), AI products and services (18.08%), and other supplementary services (0.43%) [1] Group 2 - From the perspective of fund holdings, one fund under E Fund has a significant position in Nengke Technology, specifically the E Fund Yibai Smart Quantitative Strategy Mixed A (005437), which held 28,700 shares in the second quarter, accounting for 0.45% of the fund's net value, ranking as the fourth largest holding [2] - The E Fund Yibai Smart Quantitative Strategy Mixed A (005437) was established on January 24, 2018, with a current scale of 153 million CNY, achieving a year-to-date return of 44.64%, ranking 1484 out of 8234 in its category, and a one-year return of 57.71%, ranking 696 out of 8083 [2] - The fund managers, Yin Ming and Liu Yang, have different tenures and performance metrics, with Yin Ming having a tenure of 4 years and 209 days, managing assets totaling 960 million CNY, and achieving a best return of 94.74% during his tenure [3]

Group 1: Innovation in Pharmaceuticals - The State Council has introduced regulations to standardize clinical research and application of biomedical technologies, promoting innovation and ensuring medical quality and safety [1] - The innovative pharmaceutical industry is experiencing positive fundamentals, with overseas licensing amounts exceeding $66.8 billion by mid-2025, and 31% of innovative drugs introduced by international pharmaceutical companies originating from China [1] Group 2: Infrastructure Development - Seven departments, including the Ministry of Industry and Information Technology, have released a plan to enhance new information infrastructure, focusing on the integration of "5G + industrial internet" and the development of computing power infrastructure [2] - The plan aims to promote the resourceization and assetization of industrial data, and to integrate artificial intelligence technologies with service-oriented manufacturing [2] Group 3: Financial Standards - The China Securities Regulatory Commission has published three financial industry standards related to securities exchanges and asset securitization, effective immediately [3] Group 4: Housing and Urban Development - The Ministry of Housing and Urban-Rural Development is deepening reforms in the housing and real estate sectors during the 14th Five-Year Plan, aiming to establish a new model for real estate development and improve the housing supply system [4] Group 5: Healthcare Pricing Regulation - The National Healthcare Security Administration has initiated a special rectification of "dual pricing" practices in designated retail pharmacies, emphasizing the need for fair pricing for insured patients [5][6] Group 6: Cloud Computing Standards - The Ministry of Industry and Information Technology and the National Standardization Administration have issued guidelines for the construction of a comprehensive cloud computing standardization system, aiming to establish over 30 new national and industry standards by 2027 [7] Group 7: Company News - Nengke Technology plans to raise up to 1 billion yuan for the development of its AI training platform [8] - Various companies reported significant year-on-year profit increases, with notable growth from Dao Shi Technology (408.27%) and Dongyangguang (171.08% - 199.88%) [8]

Investment Rating - The report maintains a "Buy" rating for the computer industry in China, indicating a positive outlook for the sector [6]. Core Insights - The U.S. plans to impose export controls on "critical software," which includes both foundational and industrial software, highlighting its strategic importance in the ongoing U.S.-China technological competition [9]. - The domestic market for industrial design software is expected to accelerate its localization process due to potential U.S. export restrictions, with significant growth opportunities identified in this area [3][9]. - The report emphasizes that while industrial design software has a low localization rate, the industrial control systems have a relatively higher domestic market share, particularly in DCS systems [9]. Summary by Sections Investment Recommendations and Targets - The report suggests that if the U.S. imposes export controls on foundational software, it will significantly boost the localization of industrial and foundational software. Key investment targets include: - Industrial Software: Zhongwang Software (688083, Buy), Huada Jiutian (301269, Buy), and others [3]. - Foundational Software: Dameng Data (688692, Not Rated), Dongtu Technology (300353, Not Rated), and others [3]. Industry Overview - The report discusses the strategic significance of critical software, which includes operating systems and databases, and notes that the domestic market share for PC operating systems has reached 20-25%, while server operating systems are at 40-50% [9]. - The report highlights that the localization rate for industrial operating systems is still low, at around 10-15%, but is expected to improve as domestic products gain traction [9].

Investment Rating - The report maintains a positive outlook for the computer industry, expecting a continued "scissor difference" in Q3 2025, indicating structural growth despite varying performance among companies [3][4][11]. Core Insights - The report predicts that 22% of the tracked companies will see net profit growth exceeding 50%, with notable performers including 深信服 (1528%), 卡莱特 (998%), and 新国都 (235%) [4][5]. - The report highlights a trend of cost reduction through layoffs and non-essential cost cuts, leading to improved efficiency and profitability across the industry [3][4]. - The report identifies key investment targets in various segments, including AIGC, digital economy leaders, and data innovation [3][4]. Summary by Sections Q3 2025 Performance Forecast - Among 54 tracked companies, 11 are expected to exceed 50% profit growth, while 9 will see growth between 30%-50% [4][5]. - 36% of companies are projected to have growth between 0%-30%, and 22% are expected to experience a decline [5][6]. Key Company Performances - 深信服 is projected to achieve a staggering 1528% profit growth, while 卡莱特 is expected to see 998% growth [4][5]. - Companies like 海康威视 and 金山办公 are expected to maintain stable growth rates of around 9% and 15%, respectively [8][10]. - 联想集团 is forecasted to face a significant decline of 99% in profit, indicating challenges in its operational strategy [6][10]. Investment Targets - The report categorizes investment targets into four segments: AIGC, digital economy leaders, data innovation, and AIGC computing power [3][4]. - Notable companies in the AIGC segment include 金山办公 and 道通科技, while 海光信息 and 软通动力 are highlighted in the data innovation category [3][4].

Investment Rating - The report maintains a "Recommended" rating for the industry [4] Core Insights - The report highlights the significant impact of U.S. tariffs and export controls on Chinese products, particularly in the software and hardware sectors, emphasizing the need for domestic innovation and self-reliance [1] - The Chinese government is actively promoting domestic products through favorable procurement policies, including a 20% price deduction for local products in competitive bidding [1] - The report indicates that the domestic chip industry is gaining traction, particularly in the financial sector, with major projects like the Industrial and Commercial Bank of China's procurement of Huaguang chip servers valued at approximately 3 billion yuan [1] - The report notes a substantial increase in domestic server procurement by China Unicom, with 90.1% of the servers being domestically produced, reflecting a strong trend towards localization [2] - The report anticipates a turning point for the domestic innovation industry (Xinchang) driven by supportive policies and improving performance of listed companies in the sector [2][3] Summary by Sections - **Policy Support**: The government emphasizes high-level technological self-reliance as a key development focus, aiming to enhance core technology research and innovation capabilities [2] - **Market Performance**: Several listed companies in the Xinchang sector have shown improved performance compared to the previous year, indicating a positive outlook for the industry [3] - **Investment Recommendations**: The report suggests focusing on key players in the Xinchang sector, including China Software, Dameng Data, and others, as well as leaders in specific sub-sectors like industrial software and the Harmony OS ecosystem [3]

Core Viewpoint - The capital operations of Nengke Technology reveal a contradictory situation where the company is actively raising funds while major shareholders are quietly reducing their stakes and cashing out [1][2]. Group 1: Capital Raising and Shareholder Actions - Nengke Technology announced a plan to raise no more than 1 billion yuan through a private placement, marking the third equity financing since its listing in 2016 [1]. - The actual controller, Zhao Lan, has committed to subscribe for 30 million yuan of the new shares [1]. - Since 2019, major shareholders have conducted multiple rounds of significant share reductions, with the former actual controller, Yu Shengtang, cashing out approximately 220 million yuan through four reductions [1]. Group 2: Financial Performance - In 2024, the company reported revenue of 1.51 billion yuan, a year-on-year increase of 7.47%, but the net profit attributable to shareholders decreased by 15.17% to 192 million yuan [1]. - The decline in net profit excluding non-recurring items was even more concerning, with a drop of 22.10% [1]. - In the first half of 2025, the company achieved slight growth in both revenue and net profit [1]. Group 3: Regulatory and Financial Issues - Since its IPO in 2016, the company has raised over 1.5 billion yuan through various financing methods, significantly exceeding the 79.65 million yuan in cash dividends during the same period [2]. - In December 2024, the company was ordered by the Beijing Regulatory Bureau of the CSRC to rectify issues related to revenue recognition and inaccurate accounting of R&D expenses, exposing deficiencies in financial internal controls [2]. - The ability of the current private placement to pass regulatory scrutiny is now in doubt due to these financial issues [2].

Group 1 - The company, Nengke Technology, announced a plan to issue A-shares to specific investors, including its actual controller Zhao Lan, with a maximum of 35 investors involved [1] - The total number of shares to be issued will not exceed approximately 73.41 million shares, which is 30% of the company's total share capital before the issuance [1] - The company aims to raise up to 1 billion RMB, with funds allocated for various AI projects and working capital [1] Group 2 - For the year 2024, the revenue composition of Nengke Technology is as follows: State-owned enterprises in heavy industry account for 33.57%, general machinery 23.68%, high-tech electronics 17.71%, automotive and transportation 13.25%, and energy power 11.18% [2] - The current market capitalization of Nengke Technology is 11.7 billion RMB [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 能科科技拟向特定对象发行A股股票，为此对最近五年是否被证券监管部门和证券交易所处罚或采取监 管措施的情况进行自查。自查结果显示，公司最近五年不存在被证券监管部门和上海证券交易所处罚的 情形，但曾在2024年被采取监管措施。 2024年12月20日，能科科技收到中国证监会北京监管局出具的相关决定，指出公司存在以下问题：一是 营业收入跨期确认，少量2022年签收产品于2023年确认收入，不符合收入确认政策；二是研发支出、营 业成本核算不准确，如自研软件摊销等支出未正确归集，人员薪酬划分不当，导致2023年相关科目核算 不准及商誉减值测试评估不严谨；三是减值损失测算不准确，因账龄划分等问题致使2023年应收账款等 减值损失计提不准；四是内部控制存在缺陷，如收入确认单据管理、研发项目资料签字日期及募集资金 付款审批流等方面存在瑕疵。 因上述事项违反相关规定，北京监管局决定对能科科技采取责令改正的监管措施，对财务负责人侯海旺 采取出具警示函的监管措施，并记入诚信档案，要求公司及有关责任人30日内完成整改并提交书面报 告。 收到监管措施后，能科科技及相关人员高度重视，已按 ...

Core Viewpoint - The company, Nengke Technology (603859.SH), has announced a plan to issue A-shares to specific investors, including its actual controller, Zhao Lan, who will contribute a total of 30 million yuan [1]. Fundraising Details - The total amount expected to be raised from this issuance is not more than 1 billion yuan (including the principal) [1]. - After deducting issuance costs, the funds will be allocated to several projects, including the "Lingqing" industrial AI empowerment platform construction project, the "Lingzhu" industrial software AI toolset development project, the "Lingzhi" embodied intelligent AI training and promotion platform R&D project, and to supplement working capital [1].