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].

Core Viewpoint - Zhongke Soft is a leading company in the domestic insurance IT sector, with a strong focus on software development and sales, showcasing significant technical expertise and industry experience [1] Group 1: Business Performance - In Q3 2025, Zhongke Soft reported revenue of 4.415 billion yuan, ranking 7th out of 102 in the industry, surpassing the industry average of 1.712 billion yuan and the median of 419 million yuan, but significantly lower than the top competitor Shanghai Steel Union's 57.318 billion yuan and second-place Desay SV's 22.337 billion yuan [2] - The net profit for the same period was 173 million yuan, ranking 11th in the industry, above the average of 26.431 million yuan and the median of -7.1992 million yuan, yet still trailing behind Desay SV's 1.805 billion yuan and Tonghuashun's 1.206 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Zhongke Soft's debt-to-asset ratio was 55.97%, an increase from 52.26% year-on-year, and higher than the industry average of 31.94%, indicating relatively high debt pressure [3] - The gross profit margin for Q3 2025 was 24.98%, down from 30.07% in the previous year and below the industry average of 41.71%, suggesting a need for improvement in profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.19% to 65,100, while the average number of circulating A-shares held per account increased by 2.24% to 12,800 [5] - Notable changes among the top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 3.1576 million shares, and the new entry of Huabao CSI Financial Technology Theme ETF as the sixth-largest shareholder [5] Group 4: Future Outlook - Zhongke Soft is expected to experience stable revenue growth in H1 2025, with significant increases in revenue from government, education, and cultural sectors, up 22.00% and 32.17% year-on-year, respectively, although revenues from insurance, non-insurance finance, and healthcare sectors have declined [5] - The company is focusing on AI to enhance its business processes, with adjusted revenue forecasts for 2025-2027 set at 7.184 billion, 7.914 billion, and 8.925 billion yuan, and net profits at 434 million, 578 million, and 714 million yuan, respectively [5] - Citic Securities anticipates that Zhongke Soft will host an insurance technology forum to strengthen its brand and industry influence, despite short-term performance pressures [6]

Core Viewpoint - On October 30, seven A-share listed companies disclosed their plans for share reductions, with no companies announcing any share increases on the same day [1]. Group 1: Company Reduction Plans - Yongyue Technology plans to reduce no more than 1.35% of its total share capital from repurchased shares [2]. - Chaojie Co., Ltd. intends for its controlling shareholder to reduce no more than 2.97% of its shares [2]. - Jindun Co., Ltd. has a shareholder, Qianhai Hongyi, planning to reduce no more than 1% of the company's shares [2]. - Saiwei Microelectronics' shareholders plan to collectively reduce no more than 1% of the company's shares [2]. - Zhongke Software's shareholders, Kesoft Chuangyuan and executives, plan to collectively reduce no more than 1.3753% of the shares [2]. - Ruisheng Intelligent's shareholder, Ruihe Sheng, intends to reduce no more than 3% of the shares [2]. - Daan Gene has authorized its management to sell no more than 3% of the company's total share capital [2].

Core Viewpoint - On October 30, no A-share listed companies disclosed any increase in shareholding, while seven companies announced share reductions, indicating a cautious sentiment in the market [1]. Summary by Category Share Reduction Announcements - Yongyue Technology plans to reduce its repurchased shares by no more than 1.35% of the total share capital [2]. - Chaojie Co., Ltd. intends for its controlling shareholder to reduce holdings by no more than 2.97% [2]. - Jindun Co., Ltd. has a shareholder, Qianhai Hongyi, planning to reduce holdings by no more than 1% [2]. - Saiwei Microelectronics' shareholders plan to collectively reduce holdings by no more than 1% [2]. - Zhongke Software's shareholders, Kesoft Chuangyuan and executives, plan to reduce holdings by no more than 1.3753% [2]. - Ruisheng Intelligent's shareholder, Ruihe Sheng, intends to reduce holdings by no more than 3% [2]. - Daan Gene has authorized management to sell up to 3% of the company's total share capital [2].

证券代码：603927 证券简称：中科软 公告编号：2025-035 中科软科技股份有限公司 股东及高级管理人员减持股份计划公告 本公司董事会、全体董事及相关股东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： 大股东及高级管理人员持股的基本情况：截至本公告披露日， 中科软科技股份有限公司（以下简称"公司"）股东北京科软创源软 件技术有限公司（以下简称"科软创源"）持有公司无限售条件流通 股 178,226,406 股，约占公司股份总数的 21.4462%；公司高级管理 人员谢中阳先生、王欣女士、蔡宏先生分别持有公司无限售条件流通 股 5,220,102 股、3,267,797 股、3,987,726 股，约占公司股份总数 的 0.6281%、0.3932%、0.4798%。 减持计划的主要内容：因中国科学院软件研究所（以下简称"软 件所"）自身科研需要，科软创源计划以集中竞价方式减持公司股份 不超过 8,310,400 股，不超过公司股份总数的 1%；公司高级管理人 员谢中阳先生、王欣女士、蔡宏先生因个人资金需求，计划以集中竞 价及 ...

Core Viewpoint - Zhongke Software (603927) announced a plan for share reduction by major shareholders and executives due to personal and research needs [1] Group 1: Shareholder Reduction Plans - Shareholder Kesoft Chuangyuan plans to reduce holdings by up to 8.31 million shares, representing no more than 1% of the total share capital [1] - Executives Xie Zhongyang, Wang Xin, and Cai Hong plan to reduce their holdings by up to 1.305 million shares (0.1570%), 816,900 shares (0.0983%), and 996,900 shares (0.1200%) respectively [1] Group 2: Reduction Period - The reduction period is set from November 21, 2025, to February 21, 2026 [1]

证券代码：603927 证券简称：中科软 公告编号：2025-034 公司对本次业绩说明会中投资者提出的主要问题及公司回复整 理如下： 1、公司近几年来，销售额几乎停滞增长，利润增速趋缓、24 年 甚至出现了大幅下降，一改在 A 股上市前大幅成长的公司形象。公司 中科软科技股份有限公司 关于 2025 年第三季度业绩说明会 召开情况的公告 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、业绩说明会召开情况 中科软科技股份有限公司（以下简称"公司"）于 2025 年 10 月 22 日在上海证券交易所网站（www.sse.com.cn）披露了《中科软关 于召开 2025 年第三季度业绩说明会的公告》（公告编号：2025-033）， 并通过上证路演中心网站"提问预征集"栏目以及邮件方式提前征集 投资者所关注的问题。 2025 年 10 月 29 日 13:00-14:00，公司通过上证路演中心提供的 网上平台（https://roadshow.sseinfo.com/）以网络互动方式召开 了 2025 年第三季度业绩说明会，公 ...