北京市建国门北大街 8 号华润大厦 20 层 邮编：100005 电话：(86-10) 8519-1300 传真：(86-10) 8519-1350 junhebj@junhe.com 北京市君合律师事务所 关于 北京金山办公软件股份有限公司 2022 年限制性股票激励计划授予价格调整、 首次授予第二类激励对象的第二个归属期归属条件成就及 部分限制性股票作废事项 的 法律意见书 二零二四年十月 关于北京金山办公软件股份有限公司 2022 年限制性股票激励计划授予价格调整、 首次授予第二类激励对象的第二个归属期归属条件成就及 部分限制性股票作废事项 的法律意见书 致：北京金山办公软件股份有限公司 北京市君合律师事务所（以下简称"本所"）为在北京市司法局注册设立并 依法执业的律师事务所。 本所受北京金山办公软件股份有限公司（以下简称"公司""上市公司"或 "金山办公"）的委托，担任金山办公 2022 年限制性股票激励计划（以下简称 "本次激励计划"）的专项法律顾问，依据《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 ...

Revenue and Profit - Revenue for the third quarter reached RMB 1,213,824,108.41, a year-on-year increase of 10.53%[2] - Net profit attributable to shareholders of the listed company was RMB 318,439,231.61, up 8.33% compared to the same period last year[2] - Revenue for Q3 2024 reached 1,213.82 million yuan, a year-on-year increase of 10.53%[12] - Net profit attributable to the parent company in Q3 2024 was 318.44 million yuan, up 8.33% year-on-year[12] - Total revenue for the first three quarters of 2024 reached 3,626,818,036.47 RMB, an increase from 3,270,364,301.43 RMB in the same period of 2023[20] - Net profit attributable to the parent company increased to 4,726,649,504.98 RMB as of September 30, 2024, compared to 4,093,062,809.70 RMB at the end of 2023[19] - Net profit attributable to parent company shareholders reached RMB 1,039.88 million, an increase of 16.4% compared to the same period last year[21] - Operating profit increased by 15.1% to RMB 1,093.30 million[21] - Total comprehensive income amounted to RMB 1,040.36 million, up 16.6% year-on-year[22] R&D Investment - R&D investment for the quarter totaled RMB 454,060,467.85, accounting for 37.41% of the revenue, an increase of 4.74 percentage points[3] - R&D expenses for the first three quarters of 2024 amounted to 1,261,587,792.71 RMB, up from 1,075,926,225.29 RMB in the same period of 2023[20] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 14,668,786,281.03, a 4.97% increase from the end of the previous year[3] - Total assets as of September 30, 2024, were 14,668,786,281.03 RMB, compared to 13,974,021,307.95 RMB at the end of 2023[19] - Current assets decreased to 5,794,834,233.60 RMB as of September 30, 2024, from 10,146,960,782.49 RMB at the end of 2023[17] - Non-current assets increased significantly to 8,873,952,047.43 RMB as of September 30, 2024, from 3,827,060,525.46 RMB at the end of 2023[18] - Long-term equity investments rose to 1,504,080,697.75 RMB as of September 30, 2024, compared to 1,094,062,948.51 RMB at the end of 2023[17] - Contract liabilities increased to 1,990,371,548.18 RMB as of September 30, 2024, from 1,891,874,143.93 RMB at the end of 2023[18] - Total liabilities decreased slightly to 3,893,505,691.69 RMB as of September 30, 2024, from 3,954,415,069.13 RMB at the end of 2023[19] - Shareholders' equity increased to 10,775,280,589.34 RMB as of September 30, 2024, from 10,019,606,238.82 RMB at the end of 2023[19] Cash Flow - Operating cash flow for the quarter was RMB 451,156,862.60, a significant year-on-year increase of 31.20%[2] - Cash received from sales of goods and services grew by 17.9% to RMB 3,930.06 million[23] - Net cash flow from operating activities increased by 14.9% to RMB 1,079.49 million[23] - Cash outflow for investments surged by 30.8% to RMB 13,604.08 million[24] - Net cash flow from financing activities decreased by 31.4% to RMB -484.42 million[24] - Cash and cash equivalents at the end of the period stood at RMB 540.62 million, down 83.7% from the beginning of the year[24] Earnings Per Share and ROE - Basic earnings per share for the quarter were RMB 0.69, up 7.81% from the same period last year[2] - Weighted average return on equity (ROE) for the quarter was 3.03%, a decrease of 0.14 percentage points[3] - Basic earnings per share rose to RMB 2.25, a 16.0% increase from the previous year[22] Non-Recurring Items - Non-recurring gains and losses for the quarter amounted to RMB 15,264,864.39[5] Shareholding and Shareholders - Kingsoft WPS Corporation Limited holds 51.54% of the company's shares[8] - The number of ordinary shareholders at the end of the reporting period was 22,835[8] Product and Service Performance - Monthly active devices for the main product reached 618 million, a year-on-year increase of 4.92%[14] - WPS Office PC version monthly active devices were 277 million, up 6.95% year-on-year[14] - WPS Office mobile version monthly active devices were 338 million, up 3.36% year-on-year[14] - Domestic personal office service subscription revenue in Q3 2024 was 761.72 million yuan, up 17.24% year-on-year[13] - Domestic institutional subscription and service revenue in Q3 2024 was 248.23 million yuan, up 0.02% year-on-year[13] - Domestic institutional licensing revenue in Q3 2024 was 142.88 million yuan, up 8.97% year-on-year[13] - International and other business revenue in Q3 2024 was 60.75 million yuan, down 10.43% year-on-year[13]

特此公告。 北京金山办公软件股份有限公司 监事会 北京金山办公软件股份有限公司 监事会关于 2022 年限制性股票激励计划首次授予部分第二 类激励对象第二个归属期归属名单的核查意见 北京金山办公软件股份有限公司（以下简称"公司"）监事会依据《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》"）、《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 相关法律、法规及规范性文件和《北京金山办公软件股份有限公司章程》（以下 简称"《公司章程》"）的有关规定，对公司 2022 年限制性股票激励计划首次 授予部分第二类激励对象第二个归属期符合归属条件的激励对象名单进行审核， 发表核查意见如下： 经核查 2022 年限制性股票激励计划首次授予部分第二类激励对象中 1 名激 励对象离职，不符合归属条件，本次拟归属的其余 3 名激励对象绩效考核结果合 规、真实，不存在虚假、故意隐瞒等相关情况，符合《公司法》《证券法》等法 律、法规和规范性文件以及《公司章程》规定的任职资格，符合《管理办法》等 法律、法规和 ...

证券代码：688111 证券简称：金山办公 公告编号：2024-060 关于调整 2022 年限制性股票激励计划授予权益价格并作废 处理部分限制性股票的公告 北京金山办公软件股份有限公司 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。 据北京金山办公软件股份有限公司（以下简称"公司"）2021 年年度股东 大会的授权，公司于 2024 年 10 月 25 日召开第三届董事会第二十次会议审议通 过了《关于调整 2022 年限制性股票激励计划授予权益价格并作废处理部分限制 性股票的议案》，现将相关事项说明如下： 一、股权激励计划已履行的相关审批程序 1、2022 年 3 月 23 日，公司召开第二届董事会第二十二次会议，审议通过 了《关于公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》《关于 公司<2022 年限制性股票激励计划实施考核管理办法>的议案》及《关于提请股 东大会授权董事会办理 2022 年限制性股票激励计划相关事宜的议案》等议案。 公司独立董事就本激励计划相关议案发表了独立意见。 同日，公司召开第二届监 ...

证券代码：688111 证券简称：金山办公 公告编号：2024-059 北京金山办公软件股份有限公司 关于公司 2022 年限制性股票激励计划首次授予部分第二类 激励对象第二个归属期符合归属条件的公告 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： 一、股权激励计划批准及实施情况 （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：2022 年限制性股票激励计划（以下简称"本激励计划"）拟 向激励对象授予 100.00 万股限制性股票，约占本激励计划草案公告时公司股本 总额 46,100.00 万股的 0.22%。其中首次授予 80.00 万股，约占本激励计划草案公 告时公司股本总额的 0.17%，首次授予部分占本次授予权益总额的 80.00%；预 留 20.00 万股，约占本激励计划草案公告时公司股本总额的 0.04%，预留部分占 本次授予权益总额的 20.00%。 3、授予价格（调整后）：43.55 元/股。 4、归属期限及归属安排如下： 根据岗位职责及激励需求不同，在综合 ...

证券代码：688111 证券简称：金山办公 公告编号：2024-056 北京金山办公软件股份有限公司 高级管理人员集中竞价减持股份结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 高级管理人员持股的基本情况 本次减持计划实施前，北京金山办公软件股份有限公司（以下简称"公司"） 高级管理人员、财务负责人崔研（CUI YAN）女士持有公司 30,000 股股份，占 公司总股本比例为 0.0065%，上述股份为通过公司限制性股票激励计划取得。 一、集中竞价减持主体减持前基本情况 股东名称 股东身份 持股数量（股） 持股比例 当前持股股份来源 CUI YAN 董事、监事、高 级管理人员 30,000 0.0065% 其他方式取得：30,000 股 二、集中竞价减持计划的实施结果 （一）大股东及董监高因以下事项披露集中竞价减持计划实施结果： 减持计划实施完毕 | 股东名称 | 减持数量 | 减持比例 | 减持期间 | 减持方式 | 减持价格区间 | 减持总金额 | 减持完成情况 | 当前持股 | 当 ...

Investment Rating - The report maintains a "Buy" rating for the company with a 6-month outlook [4] Core Viewpoints - The company is expected to significantly benefit from the new innovation cycle in the technology sector, with upward revisions to profit forecasts for the next three years [1] - The technology innovation sector is entering a 2.0 phase, driven by policy support and a trillion-yuan national bond issuance, which is expected to boost the sector's growth [1] - The company's institutional licensing business is projected to experience rapid growth due to the expansion of the technology innovation market, particularly in the government and enterprise sectors [2][3] Financial Forecasts - Revenue forecasts for 2024-2026 have been revised upward from 51.37/60.75/73.16 billion yuan to 52.20/64.75/80.95 billion yuan, representing growth rate adjustments of 2pct/6pct/5pct [6] - Net profit attributable to the parent company is expected to increase from 15.52/19.54/24.05 billion yuan to 16.16/22.91/30.66 billion yuan for 2024-2026 [6] - The company's EPS is projected to grow from 2.42/2.85/3.49 yuan per share in 2022-2024 to 4.95/6.63 yuan per share in 2025-2026 [6] Market Opportunities - The government sector has a PC replacement potential of nearly 2000 million units, with an estimated annual replacement of 400/450/500 million units from 2024-2026, creating a revenue opportunity of 20/22.5/25 billion yuan for the company's office software [3] - The company's office software products are expected to see increased demand from government and enterprise users, driven by the technology innovation policies and funding support [2][3] Financial Performance - The company's revenue growth rate is projected to be 14.58% in 2024, increasing to 24.05% and 25.02% in 2025 and 2026, respectively [6] - The company's net profit growth rate is expected to rise from 22.66% in 2024 to 41.76% in 2025 and 33.83% in 2026 [6] - The company's ROE is forecasted to increase from 14.44% in 2024 to 17.93% in 2025 and 20.58% in 2026 [8] Valuation Metrics - The company's P/E ratio is expected to decrease from 53.22 in 2024 to 37.55 in 2025 and 28.06 in 2026 [6] - The P/B ratio is projected to decline from 7.69 in 2024 to 6.73 in 2025 and 5.77 in 2026 [6] - The EV/EBITDA ratio is forecasted to drop from 44.31 in 2024 to 30.92 in 2025 and 22.36 in 2026 [6]

金山办公（688111）/计算机 证券研究报告/公司点评 2024 年 9 月 1 日 [Table_Title] 评级：买入（维持） 市场价格：182.21 元/股 [Table_Industry] 分析师：闻学臣 执业证书编号：S0740519090007 分析师：何柄谕 执业证书编号：S0740519090003 Email：heby@zts.com.cn | --- | --- | |---------------------------|--------| | | | | [Table_Profit] 基本状况 | | | 总股本 ( 百万股 ) | 463 | | 流通股本 ( 百万股 ) | 463 | | 市价 ( 元 ) | 182.21 | | 市值 ( 百万元 ) | 84,277 | | 流通市值 ( 百万元 ) | 84,277 | [Table_QuotePic] 股价与行业-市场走势对比 公司持有该股票比例 相关报告 1《金山办公（688111）：双订阅维 持高增，AI 加速商业化落地》 2《金山办公（688111）：双订阅收 入继续高增，WPS AI 打开成长空间》 3《金山办 ...

Investment Rating - The report maintains an "Accumulate" investment rating for the company [2][6][47] Core Insights - The company's subscription business continues to grow, with a significant increase in the proportion of subscription revenue, reaching 82% in the first half of 2024, up 5 percentage points year-on-year [6][16] - The AI product commercialization process has officially begun, with the launch of WPS AI 2.0 and various versions targeting personal, enterprise, and government users [6][38][47] - The company is focusing on enhancing user penetration and cultivating user habits for its AI products, which may lead to short-term fluctuations in gross margin but is expected to positively impact product positioning and improvement in the long run [6][46] Summary by Sections 1. Overall Performance Analysis in H1 2024 - The company reported a revenue of 2.413 billion yuan in H1 2024, a year-on-year increase of 11.09%, but a decline of 10.16 percentage points compared to the previous year [6][9] - The net profit attributable to shareholders was 721 million yuan, up 20.38% year-on-year, with a growth of 5.06 percentage points compared to the previous year [6][9] - In Q2 2024, revenue was 1.188 billion yuan, a year-on-year increase of 5.98%, but a decline of 10.56% compared to Q1 [11] 2. AI Product Progress - The company has launched several AI products, including WPS AI Office Assistant, WPS AI Enterprise Edition, and WPS AI Government Edition, focusing on efficiency and data security [38][39] - The AI membership and premium membership have been introduced, with over one million paid users, indicating a significant increase in average revenue per user (ARPPU) [40][47] 3. Investment Recommendations - The report projects EPS for 2024-2026 to be 3.32 yuan, 4.57 yuan, and 6.35 yuan respectively, with corresponding PE ratios of 52.34x, 38.05x, and 27.37x based on the closing price of 173.72 yuan on September 3, 2024 [6][47]

关于参加 2024 年半年度软件行业集体业绩说明会的公告 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。 证券代码：688111 证券简称：金山办公 公告编号：2024-055 北京金山办公软件股份有限公司 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：网络文字互动 投资者可于 2024 年 9 月 12 日（星期四）16:00 前通过邮件、电话形式将 需要了解和关注的问题提前提供给公司。公司将在文字互动环节对投资者 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 2024 年 8 月 21 日 在上海证券交易所网站（www.sse.com.cn）披露公司 2024 年半年度报告。为便于 广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况、发展理 念，公司将参与由上海证券交易所主办的 2024 年半年度软件行业集体业绩说明 会，此次活动将采用网络文字互动的方式举行，投资者可登录上海证券交易所上 证路演中心（http://roadsh ...