注：1、上述任何一名激励对象通过全部在有效期内的股权激励计划获授的本公司股票 均未超过公司总股本的 1%。公司全部在有效期内的激励计划所涉及的标的股票总数累计不 超过股权激励计划提交股东会时公司股本总额的 20%。 2、本计划激励对象不包括独立董事，及单独或合计持有上市公司 5%以上股份的股东、 上市公司实际控制人及其配偶、父母、子女。 3、以上合计数据与各明细数相加之和在尾数上有差异系由于四舍五入所造成。 广州中望龙腾软件股份有限公司董事会 2025 年 09 月 04 日 广州中望龙腾软件股份有限公司 2025 年限制性股票激励计划激励对象名单 （截至授予日） | 姓名 | 国籍 | 职务 | 获授的限制 | 占授予限制性 | 占本激励计划公 | | --- | --- | --- | --- | --- | --- | | | | | 性股票数量 | 股票总数的比 | 告日股本总额的 | | | | | （股） | 例 | 比例 | | | （一）董事、高级管理人员及核心技术人员 | | | | | | TIM FU | 美国 | 副总经理 | 76,470 | 14.99% | 0.0451% | | ...

证券代码：688083 证券简称：中望软件 公告编号：2025-056 广州中望龙腾软件股份有限公司 关于向 2025 年限制性股票激励计划激励对象 授予限制性股票的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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： 广州中望龙腾软件股份有限公司（以下简称"公司"）《2025 年限制性股 票激励计划（草案）》（以下简称"《激励计划》"）规定的 2025 年限制性股 票激励计划（以下简称"本次激励计划"）授予条件已经成就，根据公司 2025 年第二次临时股东会的授权，公司于 2025 年 9 月 4 日召开第六届董事会第十八 次会议，审议通过了《关于向 2025 年限制性股票激励计划激励对象授予限制性 股票的议案》，同意以 2025 年 9 月 4 日为授予日，以 34.00 元/股的授予价格向 231 名激励对象授予 51.0080 万股限制性股票。现将有关事项说明如下： 一、限制性股票授予情况 （一）本次限制性股票授予已履行的决策程序和信息披露情况 1、2025 年 8 月 7 日，公司召开第六届董事会第十 ...

关于广州中望龙腾软件股份有限公司 北京市中伦（广州）律师事务所 关于广州中望龙腾软件股份有限公司 2025 年限制性股票激励计划授予事项的 法律意见书 二〇二五年九月 北京市中伦（广州）律师事务所 2025 年限制性股票激励计划授予事项的 法律意见书 致：广州中望龙腾软件股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）接受广州中望龙腾软件 股份有限公司（以下简称"中望软件"或"公司"）委托，就公司 2025 年限制性股 票激励计划授予相关事宜（以下简称"本事项"或"本次授予"）担任专项法律顾问， 并就本次授予出具本法律意见书。 为出具本法律意见书，本所律师审阅了《广州中望龙腾软件股份有限公司 2025 年限制性股票激励计划（草案）》（以下简称"《激励计划（草案）》"）、 《广州中望龙腾软件股份有限公司 2025 年限制性股票激励计划实施考核管理办 法》（以下简称"《考核管理办法》"）、公司 2025 年第二次临时股东会文件、 公司相关董事会会议文件、薪酬与考核委员会会议文件以及本所律师认为需要审 查的其他文件，并通过查询政府部门公开信息对相关的事实和资料进行了核查和 验证（如涉及）。 为出具本法 ...

格隆汇9月4日丨中望软件(688083.SH)公布，公司于2025年9月4日召开第六届董事会第十八次会议，审 议通过了《关于向2025年限制性股票激励计划激励对象授予限制性股票的议案》，同意以2025年9月4日 为授予日，以34.00元/股的授予价格向231名激励对象授予51.0080万股限制性股票。 ...

格隆汇9月4日丨中望软件(688083.SH)公布，公司于2025年9月4日召开第六届董事会第十八次会议，审 议通过了《关于向2025年限制性股票激励计划激励对象授予限制性股票的议案》，同意以2025年9月4日 为授予日，以34.00元/股的授予价格向231名激励对象授予51.0080万股限制性股票。 ...

Financial Performance - For the first half of 2025, the company's operating revenue was approximately 333.60 million, an increase from 308.20 million in the same period last year, reflecting a growth of about 8.4% [1] - The total profit for the same period was a loss of approximately 64.08 million, compared to a loss of 13.31 million in the previous year [1] - The net profit attributable to shareholders was a loss of approximately 52.41 million, down from a profit of 5.98 million in the previous year [1] - The net profit after deducting non-recurring gains and losses was a loss of approximately 114.86 million, compared to a loss of 83.97 million in the same period last year [1] - The net cash flow from operating activities was a loss of approximately 85.66 million, an improvement from a loss of 149.70 million in the previous year [1] Asset and Liability Changes - As of the end of the first half of 2025, the company's net assets attributable to shareholders were approximately 2.56 billion, down from 2.68 billion at the end of the previous year [1] - The company's construction in progress increased by 28.62% compared to the end of the previous year, while cash and cash equivalents decreased by 18.42% [37] - Short-term borrowings accounted for 4.99% of total assets, which was an increase from 0% at the end of the previous year [40] Shareholder Information - The largest shareholder, Du Yulin, held 35.84% of the shares, with other shareholders also showing varying changes in their holdings [50][51] - The shareholding of Wan Jia Industry Preferred Mixed Securities Investment Fund (LOF) decreased by 0.114 percentage points [51] Valuation Metrics - As of August 29, the company's price-to-earnings (P/E) ratio was approximately 2352.01, the price-to-book (P/B) ratio was about 5.12, and the price-to-sales (P/S) ratio was approximately 14.37 [1]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 99.26 [1][5]. Core Views - The company reported a revenue of RMB 334 million for the first half of 2025, representing a year-over-year increase of 8.24%. However, the net profit attributable to the parent company was a loss of RMB 52.41 million, compared to a profit of RMB 5.98 million in the same period last year [1]. - The growth in revenue is attributed to ongoing investment in technology research and market expansion, particularly in overseas markets, while the decline in profit is due to adjustments in performance assessment cycles, increased equity incentive costs, and reduced government subsidies [1]. - The report highlights the company's strong performance in the overseas market, with a revenue increase of 42.21% year-over-year, particularly in countries like Japan, Thailand, Italy, Spain, Turkey, and the UAE, where business growth exceeded 50% [3]. Summary by Sections Financial Performance - In Q2 2025, the company achieved a revenue of RMB 208 million, a year-over-year increase of 10.59% and a quarter-over-quarter increase of 65.78%. The net profit for Q2 was a loss of RMB 444,000, compared to a profit of RMB 3.16 million in the same period last year [1]. - The company’s revenue from standard general software, purchased hardware and software, customized services, and technical services for the first half of 2025 was RMB 318 million, RMB 200,000, RMB 400,000, and RMB 800,000 respectively, with year-over-year changes of +10.47%, -14.75%, +7.81%, and -36.86% [2]. Product Development - The company invested RMB 223 million in research and development during the reporting period, an increase of 11.84% year-over-year. The focus is on integrating products like ZWCAD and ZW3D with other solutions to create a comprehensive CAx integrated solution [4]. - The report emphasizes the strong growth of core industrial software, particularly in 2D CAD products, which generated RMB 215 million in revenue, a year-over-year increase of 11.82% [2]. Market Strategy - The company is enhancing its overseas channel empowerment system and global marketing network, which is expected to drive revenue growth. The establishment of a core team in its Japanese subsidiary is part of this strategy [3]. - The report expresses optimism regarding the company's continued penetration in the CAD/CAE product market, particularly in the context of domestic substitution trends [2][4]. Earnings Forecast - The revenue forecast for the company for 2025-2027 is RMB 1.01 billion, RMB 1.23 billion, and RMB 1.51 billion respectively, with net profit forecasts of RMB 106 million, RMB 140 million, and RMB 178 million for the same periods [5][11]. - The report maintains a price-to-sales (PS) ratio of 16.7x for 2025, corresponding to the target price of RMB 99.26 [5].

（记者 王晓波） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经头条（nbdtoutiao）——个人消费贷贴息明日开闸！贷30万元最多可享贴息3000元，一文读懂→ 每经AI快讯，开源证券9月1日发布研报称，给予中望软件（688083.SH，最新价：76.65元）买入评级。 评级理由主要包括：1）事件：公司发布2025年中报，Q2收入增长加速；2）境外收入表现亮眼，加速 成长为世界级工业软件企业；3）股权激励彰显信心，3DCAD和境外收入领跑。风险提示：客户预算不 及预期；市场竞争加剧；公司研发不及预期风险等。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is a leader in the domestic CAX industrial software sector and is expected to benefit from domestic substitution opportunities and overseas expansion, maintaining a "Buy" rating [5] - The company has accelerated revenue growth in Q2, with overseas revenue showing significant performance, indicating a potential to become a world-class industrial software enterprise [6][7] Financial Performance Summary - In the first half of 2025, the company achieved operating revenue of 334 million yuan, a year-on-year increase of 8.24%, while the net profit attributable to the parent company was -52 million yuan, a decline of 976.90% [6] - For Q2 2025, the company reported operating revenue of 208 million yuan, a year-on-year growth of 10.59%, with a net profit attributable to the parent company of -4 million yuan, a decrease of 114.04% [6] - The company’s overseas market revenue growth accelerated to 42.21% in the first half of 2025, with several markets, including Japan, Thailand, Italy, Spain, Turkey, and the UAE, experiencing growth rates exceeding 50% [7] Earnings Forecast - The revised profit forecasts for 2025-2027 are as follows: net profit attributable to the parent company is expected to be 74 million yuan, 100 million yuan, and 125 million yuan respectively, with EPS projected at 0.44 yuan, 0.59 yuan, and 0.74 yuan [5] - The current stock price corresponds to P/E ratios of 177.6, 131.2, and 105.2 for 2025, 2026, and 2027 respectively [5] Stock Incentive Plan - The company announced a restricted stock incentive plan in August 2025, proposing to grant 510,000 shares at a price of 34.00 yuan per share, covering 231 employees, which is about 11.83% of the total workforce [8]

Summary of China Software 2Q25 Conference Call Industry Overview - The conference call focused on the **China Software** industry, particularly the performance of various software companies in the second quarter of 2025 (2Q25) and the first half of 2025 (1H25) - Average revenue growth for the covered companies was **9% YoY** in 1H25, with an average net margin of **-3%** due to weak seasonality in the first half [1][2] Key Company Performances - **Kingsoft Office, Thundersoft, and Sensetime** reported revenues in 2Q25 that exceeded expectations due to increased AI spending - **Glodon and Sangfor** showed better-than-expected net income in 2Q25, attributed to improved employee productivity [1] - **Yonyou** reported a revenue growth of **7% YoY** in 2Q25, recovering from a **-21% YoY** decline in 1Q25, supported by small and medium business (SMB) growth [9] - **Thundersoft** experienced a **50% YoY** revenue increase, driven by strong growth in its AIoT business [26] - **Glodon** faced a **-5% YoY** revenue decline, but net margin improved to **13%** due to product mix upgrades and cost management [17] Core Insights and Trends - Companies are focusing on: 1. **Monetization of AI tools** to provide value-added features [2] 2. **Diversification** into overseas markets or new categories to counteract slower IT spending in certain segments [2] 3. **Integration of AI** with core software products to capture a larger share of clients' budgets [2] - The average **P/E ratio** for China software companies increased to **55x-60x**, indicating early signs of AI monetization, while the average **EV/Sales** ratio rose to **8x-9x** [2] Company Ratings and Recommendations - **Buy** ratings maintained for **Empyrean** and **Kingdee** - **Neutral** rating for **Yonyou** - **Sell** ratings for **ZWSOFT, Thundersoft, Glodon, and Sangfor** [3] Earnings Revisions - **Yonyou**: Revised down 2025 net loss to **Rmb594m** from **Rmb517m** due to lower revenues during transformation [12] - **Glodon**: Revenue estimates revised down by **1%-3%** for 2025-28E, but earnings revised up by **18%/12%/2%/1%** due to improved productivity [20] - **Thundersoft**: Revenue estimates revised up by **8%/5%/4%** for 2025-27E, reflecting higher revenues from the IoT business [30] - **Sangfor**: Revenue estimates revised down by **9%/2%/1%** for 2025-27E due to lower security software revenues [46] Other Important Insights - **ZWSOFT** launched new products with enhanced 3D CAD features, which are expected to support long-term growth despite current muted growth in 3D CAD software [39] - **Sangfor** is expanding its cloud computing product offerings, which is expected to contribute to revenue growth [45] - The overall sentiment in the industry is cautiously optimistic, with expectations of improved productivity and revenue growth driven by AI integration and new product offerings [1][2][3]