二、在本次股票交易异常波动期间，不存在买卖贵公司股票的情形。 关于《星环信息科技(上海)股份有限公司股票交易异常波动询证函》的回函 星环信息科技(上海)股份有限公司： 贵公司发送的《星环信息科技(上海)股份有限公司股票交易异常波动询证函》已收悉， 经认真自查核实，现就有关事项回复如下： 一、作为贵公司的控股股东暨实际控制人/一致行动人，截至本函签署日，不存在影响 贵公司股票交易异常波动的重大事项，不存在涉及贵公司应披露而未披露的重大信息，包 括但不限于重大资产重组、股份发行、债务重组、业务重组、资产剥离和资产注入等重大 事项； （本页无正文，为《关于<星环信息科技(上海)股份有限公司股票交易异常波动询证函>的 回函》之签字页） 签名：_____________________ 公司控股股东暨实际控制人之一致行动人：上海赞星投资中心(有限合伙) 2024 年 11 月 22 日 （本页无正文，为《关于<星环信息科技(上海)股份有限公司股票交易异常波动询证函>的 回函》之签字页） 特此函复。 （本页无正文，为《关于<星环信息科技(上海)股份有限公司股票交易异常波动询证函>的 回函》之签字页） 签名：_______ ...

证券代码：688031 证券简称：星环科技 公告编号：2024-039 星环信息科技（上海）股份有限公司 股票交易异常波动公告 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： 星环信息科技（上海）股份有限公司（以下简称"公司"或"本公司"） A 股股票于 2024 年 11 月 20 日、2024 年 11 月 21 日、2024 年 11 月 22 日连续三 个交易日内日收盘价格涨幅偏离值累计超过 30%。根据《上海证券交易所交易规 则》《上海证券交易所科创板股票异常交易实时监控细则》的有关规定，属于股 票交易异常波动情形。 经公司自查并向控股股东暨实际控制人及其一致行动人核实，截至本公 告披露日，公司目前日常经营情况正常，未发生重大变化，不存在应披露而未披 露的重大信息。 截至 2024 年 11 月 22 日，公司股票收盘价为 50.20 元/股，公司股价短 期波动幅度较大，公司特别提醒广大投资者，注意投资风险，理性决策，审慎投 资。 一、股票交易异常波动的具体情况 股票于 2024 年 11 月 2 ...

证券代码：688031 证券简称：星环科技 公告编号：2024-038 星环信息科技（上海）股份有限公司 关于变更签字注册会计师的公告 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。 星环信息科技（上海）股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日召开了第二届董事会第四次会议、第二届监事会第四次会议，于 2024 年 5 月 16 日召开了 2023 年年度股东大会，会议审议通过了《关于续聘会计师事务所的 议案》，同意续聘天健会计师事务所(特殊普通合伙)(以下简称"天健")为公司 2024 年度审计机构。具体内容详见公司于 2024 年 4 月 26 日在上海证券交易所网站 (www.sse.com.cn)披露的《星环信息科技（上海）股份有限公司关于续聘 2024 年 度会计师事务所的公告》(公告编号：2024-016)。 近日，公司收到天健送达的《关于变更签字注册会计师的函》，现将相关变 更情况公告如下： 一、本次变更签字注册会计师的基本情况 签字注册会计师：耿园园，2015 年 10 月成为中国注 ...

Group 1 - Xi'an Shuzhi Technology Co., Ltd. has been established with a registered capital of 10 million yuan, focusing on artificial intelligence public data platforms and related services [1] - The legal representative of the company is Wang Fan, indicating a leadership structure [1] - The company's business scope includes technical consulting services for artificial intelligence public service platforms and foundational resources and technology platforms [1] Group 2 - The company is co-owned by Xinghuan Technology and other stakeholders, highlighting a collaborative investment structure [2]

Group 1: Company Overview and Strategy - Star Ring Technology has extensive experience in the marketization of data elements and is committed to promoting the development of China's data element circulation service market [2] - The company provides a one-stop data security circulation solution, including data security management and data element circulation capabilities [2] - Recent government projects include winning the bid for the "Integrated Digital Resource Management Service Central Platform Construction Project" for Digital Xi'an [2] Group 2: Product Offerings - The product matrix includes data security management platforms (Defensor and Audit) and data circulation platforms (Sophon P2C, Sandbox, and Datamall) [2] - The company’s strategy has evolved from data infrastructure to AI infrastructure, focusing on creating general-purpose software products [4] - The Transwarp Knowledge Studio (TKS) is an end-to-end knowledge construction toolset designed to help various sectors efficiently build knowledge systems [4] Group 3: Market Position and Comparisons - Star Ring Technology's business model is similar to that of international data and AI giants like Databricks, providing rich data resources and low-latency data retrieval [4] - The company aims to leverage its full-stack technology in big data, cloud computing, and AI to enhance its market position [3] - The company’s approach to product development is akin to Palantir, focusing on customized solutions for government and industry sectors [3]

Investment Rating - The report maintains a "Buy" rating and raises the target price to 53.71 CNY [2][10]. Core Views - The company's revenue and profit have slightly declined, and performance remains under pressure in the short term. However, the gross margin remains at a high level, and the expense structure has been optimized. The AI strategy is continuously deepening, and there is potential for exceeding expectations in the future [2][12]. Summary by Sections 1. Earnings Forecast and Valuation - The company is expected to generate revenues of 5.24 billion CNY, 6.49 billion CNY, and 7.82 billion CNY for 2024, 2025, and 2026 respectively, with EPS of -1.86 CNY, -1.36 CNY, and -0.74 CNY for the same years [2][12]. - The gross margin is projected to improve, with the software business expected to grow at a compound annual growth rate (CAGR) of 22.41% from 2019 to 2023, and a forecasted growth of 15.10%, 28.77%, and 23.96% for 2024-2026 [12][14]. - The report uses a price-to-sales (PS) valuation method, applying a conservative 10x PS for 2025, leading to a target price of 53.71 CNY [15]. 2. Financial Summary - For the first three quarters of 2024, the company achieved revenue of 2.10 billion CNY, a year-on-year decline of 5.94%, and a net loss of 2.93 billion CNY, with losses widening by 8.92% year-on-year [2][8]. - The comprehensive gross margin for the first three quarters of 2024 was 55.75%, indicating strong performance in productization [2][12]. - The company has optimized its expense structure, with sales and R&D expenses increasing by 2.18% and 9.53% respectively, while management expenses decreased by 10.81% [2][12]. 3. AI Strategy - The company is committed to transitioning from a data infrastructure provider to an AI infrastructure provider, enhancing its AI product offerings [2][12]. - It has developed a comprehensive AI infrastructure toolset that supports the entire process of enterprise-level large model production and application, which is expected to help businesses build knowledge barriers and innovate [2][12].

上海市石门一路 288 号 兴业太古汇香港兴业中心一座 26 层 邮编：200040 电话：（86-21）5298 5488 传真：（86-21）5298 5492 君合律师事务所上海分所 关于星环信息科技（上海）股份有限公司 2023 年限制性股票激励计划 首次授予部分第一个归属期归属条件成就及部分限制性股票作废 相关事项的法律意见书 星环信息科技（上海）股份有限公司： 君合律师事务所上海分所（以下简称"本所"）接受星环信息科技（上海） 股份有限公司（以下简称"公司"）的委托，作为公司 2023 年限制性股票激励 计划（以下简称"本次激励计划"）的特聘专项法律顾问，根据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管理办 法》"）、《上海证券交易所科创板股票上市规则》（以下简称"《上市规 则》"）、《科创板上市公司自律监管指南第 4 号——股权激励信息披露》（以 下简称"《自律监管指南》"）等中国现行法律、法规和规范性文件的有关规 定，就本次激励计划第一个归属期归属条件成就（以下简称"本次股票归属"） 及 ...

星环信息科技（上海）股份有限公司监事会 2024 年 10 月 29 日 星环信息科技（上海）股份有限公司 监事会关于公司 2023 年限制性股票激励计划 首次授予部分第一个归属期归属名单的核查意见 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、准确性和完整性依法承担法律责 任。 星环信息科技（上海）股份有限公司（以下简称"公司"）监事会根据《中华 人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以 下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管理办 法》"）、《上海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）、 《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等有关法律、法 规、规范性文件以及《星环信息科技（上海）股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，对公司 2023 年限制性股票激励计划（以下简称"《激 励计划》"或"本激励计划"）首次授予部分第一个归属期归属名单进行审核，发 表核查意见如下： 本次拟归属的 181 名激励对象符合《公司法》《证券法》等法律、 ...

Revenue and Profitability - Revenue for the third quarter was RMB 69.39 million, a decrease of 18.18% year-over-year[2] - Net loss attributable to shareholders for the third quarter was RMB 101.72 million[2] - Total revenue for the first three quarters of 2024 was RMB 209,535,215.72, a decrease of 5.95% compared to RMB 222,774,720.22 in the same period of 2023[16] - Net loss for the first three quarters of 2024 was RMB 293,458,565.26, an increase of 8.92% compared to RMB 269,424,512.12 in the same period of 2023[17] - Basic earnings per share for the first three quarters of 2024 were RMB -2.42, a decrease of 9.01% compared to RMB -2.22 in the same period of 2023[18] - The company's basic and diluted earnings per share for the third quarter were both RMB -0.84[3] - The weighted average return on equity for the third quarter was -8.40%[3] R&D Investment - R&D investment for the third quarter was RMB 64.91 million, an increase of 13.12% year-over-year[3] - R&D investment as a percentage of revenue for the third quarter was 93.54%, an increase of 25.88 percentage points year-over-year[3] - R&D expenses for the first three quarters of 2024 were RMB 166,506,881.66, an increase of 9.52% compared to RMB 152,020,205.45 in the same period of 2023[17] Assets and Liabilities - Total assets at the end of the third quarter were RMB 1.43 billion, a decrease of 20.15% compared to the end of the previous year[3] - Total assets decreased to 1,431,608,349.54 RMB from 1,792,864,108.39 RMB compared to the previous year[14] - Current assets decreased to 1,158,816,250.60 RMB from 1,559,031,535.11 RMB compared to the previous year[13] - Non-current assets increased to 272,792,098.94 RMB from 233,832,573.28 RMB compared to the previous year[13] - Total liabilities decreased to 274,393,069.76 RMB from 353,030,342.95 RMB compared to the previous year[14] - Current liabilities decreased to 222,436,735.04 RMB from 294,558,464.22 RMB compared to the previous year[14] - Non-current liabilities decreased to 51,956,334.72 RMB from 58,471,878.73 RMB compared to the previous year[14] - Total equity attributable to owners of the parent company as of the end of Q3 2024 was RMB 1,161,214,448.71, a decrease of 19.55% compared to RMB 1,443,300,808.91 at the end of Q3 2023[15] - Total liabilities and equity as of the end of Q3 2024 were RMB 1,431,608,349.54, a decrease of 20.15% compared to RMB 1,792,864,108.39 at the end of Q3 2023[15] - The company's total equity attributable to shareholders at the end of the third quarter was RMB 1.16 billion, a decrease of 19.54% compared to the end of the previous year[3] Cash Flow - Net cash flow from operating activities for the third quarter was RMB -72.31 million, an improvement from RMB -107.56 million in the same period last year[7] - Net cash flow from operating activities was -317.6 million RMB, a decrease from -354.4 million RMB in the previous period[19] - Net cash flow from investing activities was 338.4 million RMB, down from 532.6 million RMB in the previous period[19] - Net cash flow from financing activities was -14.5 million RMB, compared to 50.6 million RMB in the previous period[20] - Cash and cash equivalents at the end of the period were 358.5 million RMB, up from 352.7 million RMB at the beginning of the period[20] - Total cash inflow from operating activities was 292.2 million RMB, compared to 251.8 million RMB in the previous period[19] - Total cash outflow from operating activities was 609.8 million RMB, slightly up from 606.2 million RMB in the previous period[19] - Cash received from tax refunds was 5.2 million RMB, up from 4.8 million RMB in the previous period[19] - Cash paid for goods and services was 61.4 million RMB, up from 55.8 million RMB in the previous period[19] - Cash paid to employees was 445.7 million RMB, slightly down from 448.5 million RMB in the previous period[19] - Cash received from investments was 2.69 billion RMB, down from 4.99 billion RMB in the previous period[19] - Cash received from selling goods and providing services for the first three quarters of 2024 was RMB 269,363,859.34, an increase of 14.69% compared to RMB 234,853,613.17 in the same period of 2023[18] Government Subsidies - Government subsidies received during the third quarter amounted to RMB 2.51 million[4] Inventory and Receivables - Monetary funds increased to 358,464,509.05 RMB from 352,754,083.16 RMB compared to the previous year[12] - Accounts receivable decreased to 317,091,386.05 RMB from 376,249,437.30 RMB compared to the previous year[13] - Inventory increased to 72,296,232.55 RMB from 50,252,284.70 RMB compared to the previous year[13] - Contract assets increased to 58,658,032.04 RMB from 35,737,245.76 RMB compared to the previous year[13] Operating Costs - Total operating costs for the first three quarters of 2024 were RMB 533,643,380.97, an increase of 2.20% compared to RMB 522,173,305.23 in the same period of 2023[16]

星环信息科技（上海）股份有限公司（以下简称"公司"）于 2024 年 10 月 29 日召开了第二届董事会第六次会议、第二届监事会第六次会议，审议通过了 《关于 2023 年限制性股票激励计划首次授予部分第一个归属期归属条件成就的 议案》，根据公司《2023 年限制性股票激励计划》（以下简称"《激励计划》"或 "本激励计划"）的规定和 2023 年第一次临时股东大会的授权，现将有关事项说 明如下： 一、股权激励计划批准及实施情况 证券代码：688031 证券简称：星环科技 公告编号：2024-033 星环信息科技（上海）股份有限公司 关于 2023 年限制性股票激励计划 首次授予部分第一个归属期归属条件成就的公告 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： （一）本次股权激励计划的主要内容 1、股权激励方式：第二类限制性股票。 2、授予数量：本激励计划拟向激励对象授予不超过 125.0000 万股的限制性 股票，约占本激励计划草案公告时公司股本总额 12,084.2068 万股的 1.0344%。 其中 ...