Group 1: Financial Performance - In the first three quarters of 2024, the revenue structure shows that boundary security revenue accounts for approximately 72.36% of total revenue, cloud security revenue accounts for about 6.79%, and other security revenue makes up around 20.85% [1] - The company achieved a significant improvement in gross margin year-on-year, maintaining a high position within the industry, primarily due to the increased proportion of proprietary security business revenue [2][3] Group 2: Market and Customer Insights - The company has seen a leading growth rate in demand from government clients, with emerging industries such as energy and rail transportation performing well, where energy sector revenue ranked sixth in the first three quarters [2] - The sales team has been focusing on key clients in finance, telecommunications, and energy sectors, successfully securing projects and entering procurement lists [3] Group 3: Strategic Measures and Future Outlook - The company is committed to a "technology + ecosystem" model, enhancing product capabilities through continuous hardware and software updates to strengthen market competitiveness [3] - The company is focused on improving cash flow management and reducing accounts receivable risk, with a trend of improving sales collection and operating cash flow [2]

证券代码：688030 证券简称：山石网科 公告编号：2024-092 转债代码：118007 转债简称：山石转债 根据相关规定及《山石网科通信技术股份有限公司向不特定对象发行可转换 公司债券募集说明书》的约定，在本次发行的可转换公司债券存续期间，当公司 股票在任意连续三十个交易日中至少有十五个交易日的收盘价低于当期转股价 格的 85%时，公司董事会有权提出转股价格向下修正方案并提交公司股东大会 表决。 二、本次不向下修正"山石转债"转股价格 截至 2024 年 11 月 12 日，"山石转债"转股价格已触发向下修正条款。鉴 于"山石转债"发行上市时间较短，近期公司股价受到宏观经济、市场调整、大 盘低迷等诸多因素的影响，出现了较大波动，公司董事会和管理层从公平对待所 有投资者的角度出发，综合考虑公司的基本情况、股价走势、市场环境等多重因 素，以及对公司的长期发展潜力与内在价值的信心，为维护全体投资者的利益， 经公司董事会决定，本次不向下修正转股价格。 自 2024 年 11 月 13 日开始重新起算后，若再次触发"山石转债"转股价格 的向下修正条款，届时公司董事会将决定是否行使"山石转债"转股价格的向下 1 ...

证券代码：688030 证券简称：山石网科 山石网科通信技术股份有限公司 2024 年第三次临时股东大会会议资料 2024 年 11 月 1 / 7 山石网科通信技术股份有限公司 2024 年第三次临时股东大会会议资料目录 | 山石网科通信技术股份有限公司 | 2024 年第三次临时股东大会会议须知 3 | | --- | --- | | 山石网科通信技术股份有限公司 | 年第三次临时股东大会会议议程 5 2024 | | 议案一、《关于续聘公司 2024 | 年度审计机构的议案》 7 | 2 / 7 山石网科通信技术股份有限公司 2024 年第三次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司股东大会规则（2022 年修订）》以及《山石网科通信技术股份有限公 司章程》（以下简称"《公司章程》"）、《山石网科通信技术股份有限公司股东大会 议事规则》等相关规定，特制定 2024 年第三次临时股东大会须知。 一、为保证本次大会的严肃性和正常秩序，切实维护与会股东（或股东代理 人）的合法权 ...

Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 705 million yuan, a year-on-year increase of 0.70% [3] - Revenue from proprietary security products increased by approximately 14.94% year-on-year [3] - Gross margin improved to approximately 72.90%, maintaining a leading position in the industry [3] - The net profit attributable to shareholders was -76.58 million yuan, with losses narrowing by 55.74% year-on-year [3] - The company turned profitable in the third quarter with a single-quarter profit of approximately 3.43 million yuan [3] Cost Management - Sales expenses decreased by approximately 29.75% year-on-year in the third quarter [3] - Total expenses (sales, R&D, and administrative) decreased by approximately 16.01% year-on-year [3] - The company aims to achieve stable revenue growth and significantly reduce losses in the fourth quarter [4] Market Development - The company’s proprietary security revenue increased, contributing to improved profitability [3] - The company’s channel participation contributed approximately 180 million yuan in sales contracts, exceeding the total for 2023 [3] - The company’s trust in the domestic market is reflected in a 171.64% year-on-year increase in revenue from the Xinchuang product line, reaching approximately 130 million yuan [4] ASIC Chip Development - The company successfully completed the first trial production of ASIC chips in March 2024, with internal testing results meeting design requirements [4] - The company plans to enter mass production of ASIC chips by February 2025 [5] - ASIC chips are expected to enhance product performance and reduce reliance on CPU, improving overall cost-effectiveness [5] Client Engagement and Market Opportunities - The company has made significant breakthroughs in key industries, including new energy vehicles and education [6] - Strategic agreements with major clients like Inspur Cloud and Tencent have been established, laying a foundation for future performance [6] - The company’s business opportunities have reached over three times the operational target, indicating a positive outlook for revenue growth [6] Channel Development - The number of certified channel partners has exceeded 1,500, indicating increased brand influence [7] - The company has achieved project breakthroughs in collaboration with Shenzhou Digital in the financial sector [7] Cloud Security Growth - Cloud security revenue reached approximately 47.5 million yuan, a year-on-year increase of about 41.00% [9] - The company aims to develop cloud security products into a major product line alongside firewalls [9]

证券代码：688030 证券简称：山石网科 山石网科通信技术股份有限公司投资者关系活动记录表 编号：2024-10 投资者关系活动类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 其他：苏州上市公司投资者集体接待日线上交流 参与投资者及机构名称 苏州上市公司投资者集体接待日投资者线上交流 时间 2024 年 11 月 6 日 地点 线上交流 上市公司参与人员姓名 董事会秘书 唐琰 投资者关系活动主要内 容介绍 1、能否介绍下公司 ASIC 芯片试产流片内部测试的结果? 答：尊敬的投资者，您好，感谢对公司的关注。公司 ASIC 试产芯片已于 2024 年 9 月底按期回片，并在公司内部成功 完成验证测试，所有指标均达到设计要求。后续，ASIC 芯 片还需进入量产流片环节。具体内容，您可查阅公司披露的 公告。 2、请问山石网科的新技术、新产业、新业态、新模式的发 展情况和未来发展趋势? 答：尊敬的投资者，您好，感谢您对公司的关注。从产品线 维度来说，公司持续关注以防火墙为代表的网络基础设施安 全的产品发展，以及与新技术、新场景等应用紧密相关的云 安全、数据安全、端 ...

转债代码：118007 转债简称：山石转债 证券代码：688030 证券简称：山石网科 公告编号：2024-091 1、修正权限与修正幅度 1 / 3 山石网科通信技术股份有限公司 关于"山石转债"预计满足转股价格修正条件 的提示性公告 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、准确性和完整性依法承担法律责任。 一、可转债发行上市概况 经中国证券监督管理委员会《关于同意山石网科通信技术股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可〔2021〕4025 号）同意注 册，山石网科通信技术股份有限公司（以下简称"公司"）于 2022 年 3 月 22 日 向不特定对象共计发行2,674,300张可转换公司债券，每张面值为人民币100元， 按面值发行，本次发行总额为人民币 26,743.00 万元，可转换公司债券期限为自 发行之日起六年。 经上海证券交易所自律监管决定书[2022]101 号文同意，公司 26,743.00 万元 可转换公司债券于 2022 年 4 月 21 日起在上海证券交易所挂牌交易，债券简称 "山石转债"，债券代码" ...

Summary of Conference Call Company and Industry - **Company**: 山石网科 (Sangfor Technologies) - **Industry**: Cybersecurity and Network Solutions Key Points and Arguments Financial Performance - For the first three quarters of 2024, the company achieved revenue of **1.705 billion** yuan, a year-on-year increase of **0.7%** [2] - The sales revenue from proprietary security products increased by nearly **15%** year-on-year [2] - Gross margin for the first three quarters was **73%**, maintaining a leading position in the industry [2] - Net loss for the first three quarters was **76.57 million** yuan, a year-on-year reduction of approximately **56%** [2] - The company turned profitable in Q3 with a net profit of approximately **3.43 million** yuan [3] Cost Control and Efficiency - Sales expenses decreased by **30%** year-on-year in Q3, and total expenses decreased by **16%** [3] - The company is focusing on cost control and efficiency improvements, with a goal to maintain stable gross margins while achieving revenue growth [4][7] Strategic Focus - The company aims to balance revenue growth with profitability recovery, emphasizing a "technology plus ecosystem" model [4] - The partnership with 神州数码 (Digital China) has enhanced operational management and marketing team motivation [4] Market Opportunities - The company reported significant growth in the 信创 (Xinchuang) product line, with revenue of approximately **130 million** yuan, a year-on-year increase of **172%** [5] - The successful trial production of ASIC chips is expected to enhance the company's competitiveness in the Xinchuang market [5][6] - The company is focusing on building a robust channel network, with channel contributions reaching nearly **180 million** yuan, surpassing last year's total [5] Product Development - The ASIC chip is designed to reduce dependency on high-end CPUs, improving performance and stability while lowering costs [14] - The chip will be applicable across various products, including firewalls and security detection systems, significantly impacting revenue [9][10] Market Sentiment and Demand - The company perceives a positive market sentiment, particularly in the cloud and Xinchuang sectors, with increased demand from government and educational institutions [17][24] - The company has secured key projects with major clients like 比亚迪 (BYD) and the Hong Kong government, indicating strong market penetration [18][20] Future Outlook - The company anticipates a strong Q4, driven by government demand and ongoing projects in various sectors, including transportation and finance [24][25] - The management is optimistic about achieving its performance targets for the year and is preparing for future growth opportunities [7][34] Challenges and Considerations - The company acknowledges the challenges in maintaining profitability while pursuing quality growth and managing operational costs [7][34] - There is a focus on continuous improvement in operational efficiency and cost management to sustain growth [31][33] Investment and M&A Strategy - The company remains open to investment and acquisition opportunities that align with its strategic goals, particularly in enhancing its technological capabilities [36][37] Other Important but Overlooked Content - The management emphasized the importance of maintaining a balance between revenue growth and cost control, highlighting the need for quality growth rather than just quantity [7] - The company is actively working on enhancing its channel partnerships and increasing the proportion of its products within those partners' offerings [27][28]

Group 1: Event Details - The company will participate in the "Suzhou Listed Companies Investor Collective Reception Day" on November 6, 2024, from 15:30 to 17:00 [1] - The event will be conducted remotely, allowing investors to join via "Panorama Roadshow" website, WeChat public account, or Panorama Roadshow APP [1] Group 2: Participants and Communication - The company's board secretary, Ms. Tang Yan, will represent the company during the event [2] - The company will address investor concerns regarding its operational results and financial status during the interactive session [1]

转债代码：118007 转债简称：山石转债 证券代码：688030 证券简称：山石网科 公告编号：2024-088 山石网科通信技术股份有限公司 关于续聘公司 2024 年度审计机构的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ●拟续聘审计机构名称：致同会计师事务所（特殊普通合伙） 山石网科通信技术股份有限公司（以下简称"公司"）于 2024 年 10 月 29 日 召开第二届董事会第三十次会议，审议通过了《关于续聘公司 2024 年度审计机 构的议案》，同意续聘致同会计师事务所（特殊普通合伙）为公司 2024 年度审计 机构，聘期一年。前述议案尚需提交公司股东大会审议，具体情况如下： 一、拟续聘审计机构的基本情况 （一）机构信息 1、基本信息 （1）会计师事务所名称：致同会计师事务所（特殊普通合伙）（以下简称"致 同所"） （2）成立日期：2011 年 12 月 22 日 （3）组织形式：特殊普通合伙 （7）截至 2023 年 12 月 31 日注册会计师人数：1,364 人，其中：签署过证 1 ...

Financial Performance - In Q3 2024, the company reported operating revenue of CNY 324,379,404.96, a decrease of 0.80% year-on-year[2] - The net profit attributable to shareholders was CNY 3,430,660.10, showing a significant improvement from a net loss of CNY 76,578,084.01 in the same period last year[2] - The company achieved a gross profit margin of 72.90% in the first three quarters of 2024, maintaining a leading position in the industry[4] - The net profit attributable to shareholders for Q3 2024 increased due to improved gross margins and effective control of period expenses[8] - The net profit attributable to shareholders for the period from January to September 2024 showed a narrowing of losses, driven by increased gross margins, effective expense control, and VAT refunds on software product sales[8] - The net profit for the third quarter of 2024 was reported at -¥77,150,412.69, compared to -¥170,170,432.68 in the same quarter of 2023, showing an improvement in losses[20] - The total comprehensive loss of -¥77,211,208.98 for the third quarter of 2024, compared to -¥168,913,149.89 in the same quarter of 2023, indicating a reduction in overall losses[21] - The total comprehensive loss for Q3 2024 was -¥24,597,858.22, which is an improvement from -¥36,801,624.10 in Q3 2023[29] Expenses and Costs - Research and development (R&D) expenses totaled CNY 120,930,560.56, accounting for 37.28% of operating revenue, an increase of 1.76 percentage points year-on-year[3] - The company reported a significant reduction in selling expenses by 29.75% year-on-year in Q3 2024[4] - Research and development expenses increased to ¥265,381,309.84, up from ¥258,900,539.86, indicating a rise of approximately 2.9% year-over-year[19] - Research and development expenses for the first three quarters of 2024 were ¥163,836,962.18, a decrease of 3.9% from ¥169,677,252.77 in the same period of 2023[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,504[10] - The largest shareholder, Shenzhou Yunkexin (Beijing) Technology Co., Ltd., holds 12.96% of the shares, totaling 23,357,932 shares[10] - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding nearly 13%[10] - The company has not reported any changes in the status of share lending or borrowing among the top shareholders[12] - The company plans to repurchase shares worth between RMB 20 million and RMB 40 million within six months starting from February 1, 2024[13] - The company has received a notice from its largest shareholder regarding the share repurchase plan, which is not subject to a price range[13] - The company completed a share repurchase of 1,414,450 shares for a total amount of RMB 16,297,707.38[16] - The company plans to repurchase shares with a total fund not less than RMB 15 million and not exceeding RMB 30 million[16] Assets and Liabilities - The company’s total assets at the end of Q3 2024 were CNY 1,829,208,376.92, a decrease of 1.23% compared to the end of the previous year[3] - The total assets of the company as of Q3 2024 amounted to RMB 1,829,208,376.92, a decrease from RMB 1,852,071,698.16 in the previous quarter[18] - The company's cash and cash equivalents decreased to RMB 192,956,136.33 from RMB 338,765,647.39, representing a decline of approximately 43%[15] - Accounts receivable increased to RMB 871,041,451.41 from RMB 793,600,330.97, reflecting a growth of about 10%[15] - The total liabilities of the company rose to RMB 843,473,586.95 from RMB 771,770,410.89, indicating an increase of approximately 9%[17] - The company's equity attributable to shareholders decreased to RMB 984,933,466.69 from RMB 1,078,942,643.90, a decline of around 8.7%[18] - The company's short-term borrowings increased to RMB 203,900,000.00 from RMB 122,491,848.46, an increase of about 66%[17] - The total liabilities increased to ¥546,087,876.56 in Q3 2024 from ¥474,033,859.40 in Q3 2023, reflecting a growth of approximately 15.1%[29] - The total equity decreased to ¥1,083,148,072.05 in Q3 2024 from ¥1,125,101,218.59 in Q3 2023, representing a decline of about 3.7%[29] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -96,225,312.17, indicating a narrowing of cash outflow compared to the previous year[2] - The net cash flow from operating activities was -96,225,312.17 RMB, an improvement from -117,679,621.36 RMB in the previous year[23] - Total cash inflow from investment activities was 211,409,717.43 RMB, down from 291,631,669.97 RMB year-over-year[23] - Cash outflow from investment activities totaled 318,538,092.94 RMB, compared to 445,367,486.24 RMB in the same period last year[23] - The net cash flow from financing activities was 63,369,900.01 RMB, a significant recovery from -23,256,476.87 RMB in the previous year[24] - The ending balance of cash and cash equivalents was 182,120,590.80 RMB, down from 216,808,517.73 RMB year-over-year[24] - The company's cash flow from operating activities showed a net outflow of -¥85,264,550.90 for the first three quarters of 2024, compared to -¥80,523,477.61 in the same period of 2023[30] - The company reported a cash and cash equivalents balance of ¥97,402,752.77 at the end of Q3 2024, down from ¥113,565,955.01 at the end of Q3 2023[31] Operational Efficiency - The company expects to continue focusing on cost control and efficiency improvements to support healthy development moving forward[4] - Operating profit for the third quarter of 2024 was -¥76,929,405.17, an improvement from -¥180,462,354.32 in the same quarter of 2023, reflecting better operational efficiency[20]