Core Viewpoint - The article highlights the advancements in the government-oriented AI model developed by Kingsoft Office, showcasing significant improvements in reasoning capabilities, cost reduction, and productivity enhancements for civil servants. Group 1: AI Model Developments - Kingsoft Office's self-developed government AI model has achieved a 90% reduction in deployment costs, a 71.58% increase in writing efficiency, a 34.87% improvement in intent understanding, and a 12% enhancement in document formatting capabilities [1] - The model is available in two sizes: 13B and 32B, facilitating local private deployment [1] - The AI model is designed to enhance productivity for civil servants by 30-40% [1] Group 2: Market Positioning and Strategy - Kingsoft Office identified the market demand for vertical models and private deployment in the government sector, leading to proactive developments in this area [8][9] - The company launched the WPS AI government version and has been actively collaborating with various government departments [10][15] Group 3: Features and Capabilities - The government AI model is trained on a vast dataset of high-quality government language, enabling it to excel in writing official documents and policy inquiries [6][10] - It can assist in drafting five types of official documents, including notifications and proposals, while also providing intelligent editing, proofreading, and formatting services [10] - The model can activate internal documents into an intelligent knowledge base, offering civil servants answers and suggestions based on reliable references [10] Group 4: Collaboration and Data Security - Kingsoft collaborates with authoritative media like People's Daily and Xinhua News to ensure that civil servants can access updated policy information within a controlled environment [17] - The model's private deployment is crucial for many organizations, ensuring sensitive data remains secure [19][5] Group 5: Financial Performance and R&D Investment - In 2024, Kingsoft Office reported a revenue of 437 million yuan, marking a 149.33% year-on-year growth, making it the fastest-growing business segment [24] - The company invested 1.696 billion yuan in R&D, accounting for approximately 33% of its revenue, with a 15.16% increase in R&D expenses year-on-year [25] - The R&D team has grown to over 2,000 members, making it the largest R&D base for the company [26]

北京金山办公软件股份有限公司 关于参加 2024 年度科创板人工智能及软件行业集体 业绩说明会暨 2025 年第一季度业绩说明会的公告 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。 重要内容提示： https://roadshow.sseinfo.com/） 证券代码：688111 证券简称：金山办公 公告编号：2025-017 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2025 年 04 月 22 日（星期二）至 04 月 28 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 Ir@wps.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 北京金山办公软件股份有限公司（以下简称"公司"）已于 2025 年 03 月 20 日发布公司 2024 年年度报告，同时将于 2025 年 04 月 24 日发布公司 2025 年第 一季度报告。为便于广大投资者更全面深入地了解公司 2024 年度和 2025 年第一 季度经营成果、财务状况，公司计划于 2025 ...

长江商报消息 ●长江商报记者 李璟 4月18日，2025金山办公数字政务合作伙伴峰会在湖北武汉举办，现场发布了金山办公政务大模型增强 版。该大模型于2024年12月底在武汉正式发布，此次更新升级的增强版引入深度推理能力，在保证AI 算法应用效果的前提下，实现AI服务器等方面的硬件资源成本下降90%，进一步推进政务AI在各级政府 单位的普及落地。 湖北作为科教大省，科技创新实力雄厚，吸引了众多重大项目和优质企业纷纷落户。 金山办公数字政务事业部副总经理王少康在接受长江商报记者采访时表示，湖北的AI人工智能产业发 展迅速，有很好的政策支持和科研条件。金山办公与湖北，特别是武汉，是战略互补、双向奔赴的关 系。从2017年金山办公落地湖北武汉，到2025年武汉新园区正式启用，布局八年，武汉已成为金山办公 最大的研发基地，建设万人研发基地将是其在武汉布局的下一个目标。未来，金山办公将围绕智能办公 能力，与本地生态伙伴合作，共同服务用户，打造办公应用的小生态，助力湖北AI产业高质量发展。 政务大模型升级 金山办公政务大模型是基于亿级政务语料训练而成。此次金山办公政务大模型升级后，公文写作质量提 升71.58%，意图理解能 ...

Core Viewpoint - Kingsoft Office has upgraded its government AI model, enhancing its capabilities and reducing hardware costs significantly, which is expected to facilitate the adoption of AI in government units [1] Group 1: Product Development - The enhanced version of the government AI model was announced at the 2025 Kingsoft Office Digital Government Partner Summit held in Wuhan [1] - The original model was officially launched in December last year, indicating a rapid development cycle for the product [1] Group 2: Technological Advancements - The upgraded model incorporates deep reasoning capabilities, improving the effectiveness of AI algorithm applications [1] - The hardware resource costs associated with AI servers have decreased by 90%, showcasing significant cost efficiency [1] Group 3: Market Implications - The advancements in the AI model are aimed at promoting the widespread implementation of government AI across various levels of government [1]

Group 1 - The core point of the news is the performance and holdings of the Jiao Yin State-Owned Enterprise Reform Flexible Allocation Mixed A Fund, which has a latest net value of 1.7329 yuan, showing a growth of 0.55% [1] - The fund's recent performance includes a -1.21% return over the past month, a 5.20% return over the past six months, and a 1.68% return year-to-date, with respective rankings of 609 out of 2325, 607 out of 2283, and 659 out of 2308 [1] - The fund's top ten stock holdings account for a total of 50.00%, with significant positions in companies such as SF Holding (9.81%), China Chemical (6.05%), and Kingsoft Office (5.89%) [1] Group 2 - The Jiao Yin State-Owned Enterprise Reform Flexible Allocation Mixed A Fund was established on June 10, 2015, and as of December 31, 2024, it has a total scale of 2.2 billion yuan [1] - The fund manager, Shen Nan, has been in the role since the fund's inception and has a background in finance, having worked as a senior analyst and assistant fund manager prior to his current position [2]

Core Viewpoint - Chinese companies are seeking larger markets overseas, and the current global economic changes due to tariff wars present new opportunities for them [1] Group 1: Market Expansion and Competition - Kingsoft Office's CEO emphasizes the importance of confidence in global competition and the potential for Chinese companies to find new opportunities amid economic changes [1] - The company aims to accelerate its exploration of overseas markets, viewing it as a core strategy, especially with the growing market shares of domestic brands like Huawei and Xiaomi in international markets [2] - Kingsoft Office's WPS software has gained significant recognition, with approximately 200 million monthly active devices in Southeast Asia and Europe, driven by the success of Chinese mobile manufacturers [2][3] Group 2: Financial Performance - In 2024, Kingsoft Office reported a revenue of 5.121 billion yuan, a year-on-year increase of 12.40%, with 95.7% of revenue coming from domestic markets [2] - The revenue from WPS365, a comprehensive AI office platform, reached 437 million yuan, marking a substantial growth of 149.33% [2] Group 3: AI Integration and R&D Investment - The CEO views AI as a transformative opportunity for the industry, with expectations that AI applications will mature significantly by 2025 [4][5] - Kingsoft Office has invested 1.696 billion yuan in R&D, accounting for approximately 33% of its revenue, with a year-on-year increase of 15.16% in R&D expenses [6] - The company plans to continue increasing its investment in AI, collaboration, and internationalization, prioritizing long-term growth over short-term profits [6]

金山办公CEO章庆元：办公软件的底层逻辑将逐步从"人适应软件"到"软件理解人" 金十数据4月15日讯，金山办公CEO章庆元受邀参加长江商学院"中国企业CEO上海论坛"，回应了外界 关于产品战略等方面的热点问题。章庆元表示，基于私域知识的AIGC和AI Agent是今年发展的重点。 早在两年前，金山办公就开始探索AI Agent的应用，并逐步推进落地。未来，随着AI Agent智能体的可 控性逐步提升，用户与软件的交互方式还将被进一步改写，办公软件的底层逻辑也会逐步从"人适应软 件"到"软件理解人"。 （36氪） ...

金山办公CEO章庆元：WPS会考虑将国产模型引入海外市场 金十数据4月15日讯，在长江商学院"中国企业CEO上海论坛"上金山办公CEO章庆元表示，海外对于金 山办公来说是一个很大的增量市场，是金山办公的重点业务。目前，金山办公在海外已拥有超过2亿月 活设备数。面对全球AI竞赛的产业变局，章庆元表示："DeepSeek的横空出世，把中国AI大模型的水平 拉至世界级，而且成本上更占优势，也让金山办公等一众在大模型之上'做应用'的企业看到了新的机 遇。未来WPS会考虑将国内AI模型引入海外市场。" （36氪） ...

Group 1 - The A-share market's three major indices closed mixed, with the Sci-Tech Innovation Board Composite Index down 0.5% to 1158.81 points and a trading volume of 78.894 billion yuan [1] - The Sci-Tech Innovation Board Composite Index has decreased by 7.69% over the past month, increased by 4.75% over the past three months, and has risen by 4.10% year-to-date [1] - The index is composed of eligible listed companies on the Sci-Tech Innovation Board and includes dividend distributions in its performance calculations, with a base date of December 31, 2019, set at 1000.0 points [1] Group 2 - The top ten weighted stocks in the Sci-Tech Innovation Board Composite Index include Haiguang Information (5.41%), Cambrian (4.13%), SMIC (2.84%), Kingsoft Office (2.18%), Zhongwei Company (1.83%), United Imaging (1.67%), Transsion Holdings (1.54%), Baillie Tianheng (1.49%), Lattice Technology (1.32%), and China Resources Microelectronics (0.95%) [1] - The industry composition of the index shows that Information Technology accounts for 52.19%, Industry for 23.48%, Healthcare for 16.36%, Materials for 3.37%, Consumer Discretionary for 2.19%, Communication Services for 1.79%, Consumer Staples for 0.57%, and Energy for 0.05% [2] - Securities that rank in the top 10 by average total market capitalization on the Sci-Tech Innovation Board are included in the index after three months of listing, while others are included after one year [2]

Investment Rating - The report maintains an "Add" investment rating for the company, indicating a projected relative increase of 5% to 15% compared to the CSI 300 index over the next six months [1][44]. Core Views - The company reported a revenue of 5.121 billion yuan for 2024, representing a year-on-year growth of 12.40%. The net profit attributable to shareholders was 1.645 billion yuan, up 24.84% year-on-year, with a basic earnings per share of 3.56 yuan [6][11]. - The company is transitioning its business disclosure from a commercial model classification to a product business classification, focusing on the development of WPS personal and WPS 365 businesses [8]. - The AI application is expected to accelerate in 2025, with significant growth in user engagement and product capabilities anticipated [9]. Financial Performance - The company achieved a gross margin of 85.14% and a diluted return on equity of 14.49% as of December 31, 2024 [2]. - The total market capitalization is approximately 142.5 billion yuan, with a price-to-earnings ratio of 86.62 for 2024 [1][11]. - The company’s revenue is projected to grow to 6.116 billion yuan in 2025, with a net profit of 1.983 billion yuan, reflecting a growth rate of 20.55% [11]. Business Segments - The WPS personal business generated 3.283 billion yuan in revenue, growing 18% year-on-year, while WPS 365, launched in 2023, saw a revenue increase of 149.33% to 437 million yuan in 2024 [8]. - The domestic personal service subscription business generated 3.1 billion yuan, up 16.84% year-on-year, while the domestic institutional subscription and service business reached 1.064 billion yuan, growing 11.11% [8]. - The company’s international and other business revenue was 250 million yuan, with a notable 38.38% growth in overseas business [11]. Future Outlook - The company plans to enhance its overseas business, which is expected to become a significant growth driver, with a projected revenue of 2.18 billion yuan in 2024, up 38.38% [11]. - The report anticipates that the company will continue to expand its AI capabilities, which are expected to drive user engagement and revenue growth [9][11].