证券代码：603859 证券简称：能科科技 公告编号：2025-062 能科科技股份有限公司 第五届监事会第十六次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 能科科技股份有限公司（以下简称"公司"）第五届监事会第十六次会议于 2025 年 11 月 4 日在北京市海淀区中关村软件园互联网创新中心二层公司会议室 以现场表决的方式召开。会议应出席的监事 3 人，实际出席的监事 3 人。会议的 召集和召开程序符合有关法律、行政法规、部门规章、规范性文件和公司章程的 规定。 二、监事会会议审议情况 议案：《关于取消监事会、变更经营范围并修订<公司章程>的议案》 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票。 根据《中华人民共和国公司法》《关于新<公司法>配套制度规则实施相关过 渡期安排》等规定，公司拟取消监事会，由董事会审计委员会行使《公司法》规 定的监事会的职权，《监事会议事规则》相应废止，公司各项规章制度中涉及监 事会、监事的规定不再适用。基于公司业务发展需要，拟变更公司经营范 ...

证券代码：603859 证券简称：能科科技 公告编号：2025-061 第五届董事会第二十三次会议决议公告 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。 一、董事会会议召开情况 能科科技股份有限公司（以下简称"公司"）第五届董事会第二十三次会议于 2025 年 11 月 4 日在北京市海淀区中关村软件园互联网创新中心二层公司会议室以 现场结合通讯表决的方式召开。会议应出席的董事人数 9 人，实际出席的董事人数 9 人，公司监事、部分高级管理人员列席了本次会议。会议的召集和召开程序符合 有关法律、行政法规、部门规章、规范性文件和公司章程的规定。 二、董事会会议审议情况 （一）审议通过《关于取消监事会、变更经营范围并修订<公司章程>的议案》 根据《中华人民共和国公司法》《关于新<公司法>配套制度规则实施相关过渡 期安排》等规定，公司拟取消监事会，由董事会审计委员会行使《公司法》规定的 监事会的职权，《监事会议事规则》相应废止，公司各项规章制度中涉及监事会、监 事的规定不再适用。基于公司业务发展需要，拟变更公司经营范围。同时，根据 ...

Company Summary - Nengke Technology (SH 603859) held its 23rd meeting of the 5th Board of Directors on November 4, 2025, to discuss the appointment of a securities affairs representative and other documents [1] - As of the report, Nengke Technology has a market capitalization of 11.2 billion yuan [1] Revenue Composition - For the year 2024, Nengke Technology's revenue composition is as follows: - State-owned heavy industry: 33.57% - General machinery: 23.68% - High-tech electronics: 17.71% - Automotive and transportation: 13.25% - Energy and power: 11.18% [1] Industry Insights - A significant increase in overseas orders by 246% has been reported, covering over 50 countries and regions, indicating a booming industry [1] - Entrepreneurs have raised concerns about some companies selling at a loss, warning of potential vicious competition extending to overseas markets [1]

Group 1 - The A-share market experienced a significant increase in public fund research activities in October 2025, with 159 public institutions participating and covering 632 stocks, resulting in a total of 7,452 research instances, a 60.57% increase from September [1] - The computer industry saw a notable focus, with Nengke Technology being the most researched company, receiving 73 research instances from 53 public institutions, highlighting interest in its AI business developments [1] - The top ten researched stocks in October were primarily from the power equipment, machinery, and communication sectors, indicating strong interest in these industries [1][2] Group 2 - The pharmaceutical and biological industry emerged as the hottest sector for research, with 85 stocks receiving a total of 1,229 research instances, significantly outpacing other industries [2][3] - The electronics industry followed closely, with 78 stocks and a total of 1,069 research instances, indicating a strong interest from public institutions [3] - The power equipment and machinery sectors also showed high research activity, each with over 750 research instances and more than 55 stocks being researched [3] Group 3 - Chuangjin Hexin Fund was the most active public institution in October, conducting 302 research instances, primarily focusing on the pharmaceutical, electronics, and machinery sectors [3] - Ping An Fund followed with 169 research instances, concentrating on electronics, machinery, power equipment, and computer industries [3] - Bosera Fund ranked third with 137 research instances, focusing on power equipment and electronics, aligning with current market trends [3]

Group 1 - In October 2025, the A-share market experienced a significant upward trend, with public fund research enthusiasm increasing as companies prepared to disclose their third-quarter reports [1] - A total of 159 public fund institutions participated in A-share research activities, covering 632 stocks across 30 Shenwan primary industries, with a total of 7,452 research instances, marking a 60.57% increase from September [1] - The computer industry saw the highest research frequency, with Nengke Technology being the "research king" of the month, receiving 73 research instances from 53 public fund institutions [1] Group 2 - Seventeen Shenwan primary industries received significant attention from public fund institutions in October, with all industries having at least 100 research instances [2] - The pharmaceutical and biological industry emerged as the hottest research sector, with 85 stocks receiving a total of 1,229 research instances, significantly outpacing other industries [2] - The electronics industry followed closely, with 78 stocks and a total of 1,069 research instances, indicating a strong focus from public fund institutions [2] Group 3 - Chuangjin Hexin Fund was the most active public fund institution in October, conducting 302 research instances, leading other institutions by a significant margin [3] - Ping An Fund followed with 169 research instances, focusing on the electronics, machinery, power equipment, and computer industries [3] - Bosera Fund ranked third with 137 research instances, concentrating on the power equipment and electronics industries, aligning with market trends [3]

Core Viewpoint - Nengke Technology, established in December 2006 and listed on the Shanghai Stock Exchange in October 2016, is a leading company in the industrial digitalization sector in China, focusing on providing digital transformation solutions with differentiated technology and service advantages [1] Group 1: Business Performance - For Q3 2025, Nengke Technology reported revenue of 1.089 billion yuan, ranking 45th among 131 companies in the industry, with the top company, Digital China, achieving 102.365 billion yuan in revenue [2] - The net profit for the same period was 233 million yuan, placing the company 10th in the industry, while the leading company, Unisplendour, reported a net profit of 1.723 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Nengke Technology's debt-to-asset ratio was 31.96%, an increase from 30.68% year-on-year, which is lower than the industry average of 38.93%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 51.35%, up from 48.61% year-on-year, significantly higher than the industry average of 29.96%, reflecting strong profitability [3] Group 3: Executive Compensation - The chairman, Zu Jun, received a salary of 1.8935 million yuan in 2024, an increase of 155,800 yuan from 2023 [4] - The president, Zhao Lan, earned 1.9004 million yuan in 2024, up by 168,300 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 36.38% to 35,500, while the average number of shares held per shareholder decreased by 26.67% to 6,902.42 shares [5] Group 5: Growth and Future Outlook - According to Huaxin Securities, Nengke Technology's operating quality improved in the first three quarters of 2025, with revenue from AI business reaching 335 million yuan, accounting for 30.79% of total revenue [6] - The company is expected to see revenue growth from 1.75 billion yuan in 2025 to 2.404 billion yuan in 2027, with EPS projected to rise from 0.96 yuan to 1.45 yuan during the same period [6] - Haitong Securities noted that the AI business is a core driver of profit growth, with a gross margin of 51.35% and a focus on enhancing AI R&D to build long-term technological barriers [7]

Investment Rating - The report maintains a "Buy" investment rating for the company [1] Core Insights - The company has shown significant growth in its AI business, with a focus on optimizing profitability [1] - In Q3 2025, the company achieved a revenue of 351 million yuan, a year-on-year increase of 5.35%, and a net profit of 54.47 million yuan, up 122.49% year-on-year [4][5] - The company plans to raise up to 1 billion yuan through a private placement to enhance its industrial AI capabilities [9][10] Financial Performance - For the first three quarters of 2025, the company reported total revenue of 1.089 billion yuan, a 5.05% increase year-on-year, and a net profit of 165 million yuan, up 40.34% year-on-year [5] - The gross margin and net margin for the first three quarters of 2025 were 51.35% and 21.37%, respectively, reflecting improvements in operational efficiency [5][6] - The comprehensive expense ratio for the first three quarters was 27.16%, a decrease of 2.35 percentage points year-on-year, indicating effective cost control [6] Strategic Initiatives - The company is focusing on three core projects: "Lingqing" AI empowerment platform, "Lingzhu" industrial software AI toolset, and "Lingzhi" embodied intelligent AI training platform, aimed at enhancing its competitive edge in the industrial AI sector [9][10] - The "Lingqing" platform aims to create an integrated platform for model and intelligent agent development, while the "Lingzhu" project seeks to integrate AI capabilities into industrial software systems [9][10] Market Outlook - The company is well-positioned in the emerging field of embodied intelligence, supported by national policies promoting the development of this industry [10] - The company has a strong technical team of over 100 professionals dedicated to advancing its AI capabilities [11] Earnings Forecast - The company is projected to achieve revenues of 1.75 billion yuan, 2.046 billion yuan, and 2.404 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding EPS of 0.96, 1.18, and 1.45 yuan [12][14]

Group 1 - The domestic software sector experienced a significant surge in early trading, with Rongji Software hitting the daily limit up [1] - Other companies in the sector, such as Tax Friend Co., Geer Software, Nengke Technology, and Jiuqi Software, also saw notable increases [1]

Core Insights - The company reported a revenue of 1.089 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 5.05% [1] - The net profit attributable to shareholders reached 165 million yuan, showing a significant year-on-year increase of 40.34% [1] - The net profit excluding non-recurring items was 146 million yuan, reflecting a year-on-year growth of 30.55% [1] - The basic earnings per share stood at 0.68 yuan [1]

Summary of Nengke Technology Conference Call Company Overview - **Company**: Nengke Technology - **Industry**: AI and Industrial Software Key Financial Metrics - **Revenue Growth**: 2025 Q1-Q3 revenue increased by 5.05% to 1.088 billion CNY [2][3] - **Net Profit Growth**: Net profit rose by 40.34% to 165 million CNY [2][3] - **Gross Margin**: Improved by 2.74 percentage points to 51.35% [2][3] - **AI Revenue Contribution**: AI-related business revenue exceeded 30%, reaching 335 million CNY [2][3] - **Contract Liabilities**: Remained stable at 393 million CNY compared to the previous year [2][3] Strategic Focus - **Market Segmentation**: Focus on heavy equipment, automotive, high-tech electronics, and general machinery [2][5] - **Client Base**: Increased focus on large and medium-sized enterprises, with special industries accounting for 44% of revenue [2][5] - **Business Structure Adjustment**: Shifted resources towards high-value areas such as AI and industrial software [2][8] AI Business Development - **AI as a Core Direction**: AI business is a significant growth area, with substantial investments in AI applications and AR [2][6][10] - **AR Revenue Growth**: AR revenue increased from 28% to over 30% in Q3 [6] - **Sustainable Revenue Models**: Exploring subscription models for AI services to ensure long-term revenue [19] Industry Ecosystem and Collaboration - **Ecosystem Development**: Strengthened partnerships with computing power vendors, large model manufacturers, and robotics companies [9] - **Joint Solutions**: Collaborative development of integrated solutions to enhance technical capabilities and market reach [9] Research and Development - **R&D Investment**: Increased focus on cutting-edge AI technologies, with a capitalized R&D rate of 73% [10][17] - **Future Technology Layout**: Plans to develop AI platforms to address computational model and application coordination issues [11] Market Outlook and Future Plans - **Strong Demand in Special Industries**: Anticipated continued growth in special industries, with a focus on expanding customer penetration [19][22] - **Revenue Targets**: Projected revenue of 500-600 million CNY for 2025, 800-1,000 million CNY for 2026, and at least 1.5 billion CNY in subsequent years [20] - **AI Order Growth**: Aiming for a doubling of AI orders, with a strong pipeline of existing and new orders [21] Response to National Policies - **Alignment with National Goals**: Positive response to the Fourth Plenary Session's goals related to manufacturing strength and technological self-reliance [15][16] - **Strategic Positioning**: Company’s long-term strategy aligns with national industrial trends, focusing on high-end manufacturing and domestic production [15][16] Additional Insights - **Accounts Receivable Increase**: Driven by large contract liabilities and delayed payments from large clients, but with low risk [12] - **Profit Margin Improvement**: Resulting from a shift to high-margin AI business and optimized internal management [13][14]