Core Viewpoint - The company aims to enhance its investor relations management and communicate its long-term investment value to the market [1] Group 1 - The company will continue to adhere to an active cash dividend policy [1] - The company is committed to providing shareholders with sustainable, stable, and reasonable investment returns [1] - The company intends to share its operational achievements with shareholders [1]

Core Viewpoint - Zhongke Soft (603927) is actively monitoring technological advancements and their application prospects across various industries, particularly in intelligent computing solutions [1] Group 1: Company Overview - The largest shareholder of Zhongke Soft is Beijing Kesoft Chuangyuan Software Technology Co., Ltd., which holds equity in Zhongke Arc Light [1] - The company focuses on the development of industry application software and operates in the downstream of the computing power industry chain [1] Group 2: Industry Collaboration - Zhongke Soft has established ecological partnerships with major intelligent computing platforms and computing infrastructure manufacturers, including Huawei, Alibaba Cloud, and Tencent Cloud [1] - The company aims to deliver digital intelligence solutions to downstream industry clients, driven by the demand for intelligent computing from sectors such as insurance, government, and healthcare [1]

Group 1 - The company, Zhongke Soft (603927), confirmed on November 10 that it has no undisclosed information that should have been disclosed [1]

Core Viewpoint - Zhongke Soft (603927) reported that as of October 31, 2025, the total number of shareholders is expected to reach 65,450 [1] Company Summary - Zhongke Soft has engaged with investors through an interactive platform, providing insights into its shareholder structure [1] - The company is projecting a significant increase in its shareholder base by the end of October 2025, indicating potential growth and interest from investors [1]

Core Viewpoint - The company acknowledges the stagnation in its stock price compared to the rising software industry and outlines its strategic plans to enhance quality and returns for investors [1] Group 1: Company Strategy - The company has developed a "Quality Improvement and Return Enhancement" action plan for 2024 and 2025 to drive high-quality development and increase investment value [1] - The company focuses on its core business, aiming to stabilize business revenue while enhancing its core competitiveness through technological innovation and ecological cooperation [1] - The company plans to increase its product development efforts around new technologies such as AIGC, having obtained 160 new software copyrights in 2024 [1] Group 2: Investor Relations and Returns - The company emphasizes the importance of investor returns and has implemented a market value management system in 2025 to enhance shareholder satisfaction [1] - In addition to a high dividend payout in 2024, the company will introduce a mid-term dividend in 2025 to improve shareholder experience [1] - The company is committed to optimizing its investor relations management through various communication channels, including performance briefings and investor roadshows, to convey its long-term investment value [1]

Company Overview - Zhongke Ruankong Technology Co., Ltd. is located in Haidian District, Beijing, and was established on May 30, 1996. The company was listed on September 9, 2019. Its main business involves computer software development, sales, and services [1]. - The company's revenue composition includes 71.83% from software development and services, 26.63% from system integration and services, 1.29% from software products, and 0.26% from other sources [1]. Financial Performance - As of September 30, 2025, Zhongke Ruankong achieved operating revenue of 4.415 billion yuan, representing a year-on-year growth of 7.04%. However, the net profit attributable to shareholders decreased by 40.18% to 173 million yuan [2]. - The company has distributed a total of 1.728 billion yuan in dividends since its A-share listing, with 977 million yuan distributed over the past three years [3]. Stock Market Activity - On November 6, Zhongke Ruankong's stock price increased by 2.24%, reaching 22.35 yuan per share, with a trading volume of 260 million yuan and a turnover rate of 1.42%. The total market capitalization is 18.574 billion yuan [1]. - Year-to-date, the stock price has risen by 4.88%, with a 3.33% increase over the last five trading days, a 5.23% increase over the last 20 days, and a 10.26% increase over the last 60 days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders is 65,100, a decrease of 2.19% from the previous period. The average number of circulating shares per person increased by 2.24% to 12,756 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fifth largest, holding 9.6235 million shares, an increase of 3.1576 million shares from the previous period. The Huabao CSI Financial Technology Theme ETF is the sixth largest shareholder, holding 9.4231 million shares as a new shareholder [3].

Core Viewpoint - Zhongke Soft's stock price has experienced a decline of 2.04% as of November 5, with a current price of 21.10 yuan per share and a total market capitalization of 17.535 billion yuan [1] Financial Performance - For the period from January to September 2025, Zhongke Soft achieved operating revenue of 4.415 billion yuan, representing a year-on-year growth of 7.04%. However, the net profit attributable to shareholders decreased by 40.18% to 173 million yuan [2] - Since its A-share listing, Zhongke Soft has distributed a total of 1.728 billion yuan in dividends, with 977 million yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Zhongke Soft is 65,100, a decrease of 2.19% from the previous period. The average number of circulating shares per person increased by 2.24% to 12,756 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 9.6235 million shares (an increase of 3.1576 million shares), and Huabao CSI Financial Technology Theme ETF, which is a new shareholder with 9.4231 million shares [3] Stock Performance - Zhongke Soft's stock has seen a year-to-date decline of 0.99%, a 5-day decline of 3.70%, a 20-day increase of 1.10%, and a 60-day increase of 5.45% [1]

Group 1 - The AI application sector continues to show positive momentum, with the Xinchuang ETF (562030) experiencing a price increase of 0.35%, indicating a bullish trend over the past nine trading days, with six days of gains [1] - Key stocks within the ETF, such as Xinghuan Technology and 360, have seen significant price increases, with gains exceeding 7% and 6% respectively [1] - The report from QuestMobile indicates that the number of monthly active users for AI applications on mobile devices in China has surpassed 700 million, reaching 729 million by September 2025 [3] Group 2 - The Xinchuang industry is transitioning from being policy-driven to a dual-driven model of policy and market, with significant growth expected in the market size, projected to reach over 2.6 trillion yuan by 2026 [4] - The Xinchuang ETF tracks the Zhongzheng Xinchuang Index, which encompasses core segments of the Xinchuang industry, including hardware, software, and information security, highlighting its high growth and elasticity characteristics [7] - The investment logic for the Xinchuang industry includes geopolitical factors, increased local debt efforts, technological breakthroughs by domestic manufacturers, and the critical timing of procurement standards [7]

Core Insights - The AI and financial technology sectors are experiencing significant activity, with notable stock performances and ETF movements [1][3] - The financial technology ETF (159851) has seen a substantial increase in trading volume and market interest, indicating strong investor sentiment [3] Group 1: Stock Performance - Shenzhou Information has achieved a limit-up increase for four consecutive days, while other stocks like Gaweida and Geer Software have also shown positive movements, with gains exceeding 5% and 1% respectively [1] - The financial technology ETF (159851) experienced a notable intraday surge, with a trading volume nearing 300 million CNY [1] Group 2: ETF Insights - The financial technology ETF (159851) has surpassed 10 billion CNY in scale, with an average daily trading volume of 800 million CNY over the past month, leading among similar ETFs [3] - The ETF's underlying index primarily consists of computer-related stocks, aligning with current trends in domestic substitution and self-sufficiency [3] Group 3: Market Outlook - Minsheng Securities predicts that 2025 will mark the beginning of a new era for AI Agents, potentially expanding the software market to trillions of dollars and enhancing software consumption attributes [2] - The report emphasizes the importance of focusing on financial and tax-related opportunities within the AI application space as a key investment strategy [2]

Core Viewpoint - The major shareholder and senior management of Zhongke Soft Technology Co., Ltd. plan to reduce their shareholdings for personal and institutional needs, with specific details on the number of shares and the timeline for the reduction [2][3][5]. Shareholding Structure - As of the announcement date, the major shareholder, Beijing Kesoft Chuangyuan Software Technology Co., Ltd., holds 178,226,406 shares, accounting for approximately 21.4462% of the total shares. Senior management members hold the following shares: Mr. Xie Zhongyang (5,220,102 shares, 0.6281%), Ms. Wang Xin (3,267,797 shares, 0.3932%), and Mr. Cai Hong (3,987,726 shares, 0.4798%) [2]. Reduction Plan Details - Kesoft Chuangyuan plans to reduce its holdings by up to 8,310,400 shares, not exceeding 1% of the total shares. Senior management plans to reduce their holdings as follows: Mr. Xie Zhongyang (up to 1,305,000 shares, 0.1570%), Ms. Wang Xin (up to 816,900 shares, 0.0983%), and Mr. Cai Hong (up to 996,900 shares, 0.1200%) [2][3]. Purpose of Fund Utilization - The funds obtained from the share reduction by Kesoft Chuangyuan will primarily be used for the research and development needs of the Software Institute [5]. Commitment to Shareholding - Kesoft Chuangyuan and senior management have made commitments regarding their shareholding, including a long-term holding intention and adherence to regulations regarding share reduction [7][8]. Compliance with Regulations - The reduction plan will comply with relevant laws and regulations, and any changes in shareholding due to corporate actions will lead to adjustments in the planned reduction amounts [3][11]. No Change in Control - The planned share reductions will not lead to a change in control of Zhongke Soft Technology Co., Ltd. [3][10].