北京金山办公软件股份有限公司 2025 年度"提质增效重回报"行动方案 公司将大模型与全线产品深度耦合，利用"AI 网关"统一管理不同大模型能 1 力，顺利解决了各家大模型的兼容问题，实现不同功能背后的大模型精准适配。 同时，公司聚焦办公场景自主研发模型，打造场景化智能最优解：基于政务大模 型打造的 WPS 公文模式，实现公文全生命周期智能管理——从智能拟稿、交互 式改写，到一键排版及要素校验，支持通知/报告/议案等标准公文模板，并延伸 至标书、合同审核、论文撰写等专业场景；自研文生图大模型通过海量数据预训 练和高质量数据精调，展现了卓越的控制力和处理速度，更贴合办公场景需求， 应用于演示生成场景后，用户采用率持续增长。 北京金山办公软件股份有限公司（以下简称"公司"或"金山办公"）践行 以投资者为本的理念，以高质量发展和增厚股东回报为行动路径，结合公司战略 规划、生产经营等公司情况，公司于 2024 年 3 月 21 日发布了《2024 年度 "提 质增效重回报"行动方案》，公司切实履行 2024 年度行动方案有关内容，积极 开展和落实相关工作。 2025 年，公司为能更好地延续上述方面取得的良好成绩，特制 ...

证券代码：688111 证券简称：金山办公 公告编号：2025-014 北京金山办公软件股份有限公司 股东询价转让定价情况提示性公告 股东天津奇文一维企业管理咨询合伙企业（有限合伙）（以下简称"奇文一维"）、天津 奇文二维企业管理咨询合伙企业（有限合伙）（以下简称"奇文二维"）、天津奇文三维企业 管理咨询合伙企业（有限合伙）（以下简称"奇文三维"）、天津奇文四维企业管理咨询合伙 企业（有限合伙）（以下简称"奇文四维"）、天津奇文五维企业管理咨询合伙企业（有限合 伙）（以下简称"奇文五维"）、天津奇文六维企业管理咨询合伙企业（有限合伙）（以下简称 "奇文六维"）、天津奇文七维企业管理咨询合伙企业（有限合伙）（以下简称"奇文七维"）、 天津奇文九维企业管理咨询合伙企业（有限合伙）（以下简称"奇文九维"）、天津奇文十维 企业管理咨询合伙企业（有限合伙）（以下简称"奇文十维"）（以上股东合并简称"奇文 N 维""出让方"）保证向北京金山办公软件股份有限公司（以下简称"公司""本公司""金山 办公"）提供的信息内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、 准确性和完整性依法承担法律责任。 本公司及董事 ...

发稿人 矫月 本报讯 （记者李乔宇）研发投入与盈利规模能否兼顾？这道困扰科技企业的战略命题正迎来突破性解 法。 2025年《政府工作报告》明确提出，推进高水平科技自立自强。充分发挥新型举国体制优势，强化关键 核心技术攻关和前沿性、颠覆性技术研发，加快组织实施和超前布局重大科技项目。 近期，上市公司年报密集披露，在交出业绩"成绩单"的同时，也透露了上市公司的研发布局成果及动 向。以金山办公为例，2024年该公司实现了营收、净利润同步上行，在研发投入上的布局也有商业化回 报。展望未来，金山办公仍将不断深化技术研发，持续补充关键研发能力，加强研发人才梯队建设。 营收规模、研发费用同步上行 上市以来斥资60亿元加码研发 2024年，金山办公实现收入规模与研发费用的同步增长。年报数据显示，2024年，金山办公实现营业收 入51.21亿元，同比增长12.40%；归属于母公司所有者净利润为16.45亿元，同比增长24.84%。 从细分业务板块来看，2024年，金山办公坚持以用户体验为中心，不断精进产品功能与服务，实现了用 户规模与商业化能力的双增长。去年，WPS个人业务收入32.83亿元，同比增长18%。截至去年年末， W ...

Core Viewpoint - Kingsoft Office (688111.SH) announced a share transfer plan involving the transfer of 7,761,767 shares, representing 1.68% of the total share capital, due to the seller's funding needs [1][3]. Group 1: Share Transfer Details - The share transfer will be conducted by the shareholder Qiwens N Dimension, with the total shares to be transferred accounting for 22.16% of the seller's holdings [1][2]. - The transfer includes multiple entities under Qiwens N Dimension, with each entity's proposed share transfer and ownership percentages detailed [2]. - The transfer will be organized by China International Capital Corporation (CICC), and the shares acquired through this transfer cannot be sold within six months [2][4]. Group 2: Financial Performance - Kingsoft Office reported a revenue of 512,084 million yuan for the year 2024, marking a year-on-year increase of 12.40% [4]. - The net profit attributable to the parent company was 164,508 million yuan, reflecting a growth of 24.84% year-on-year [4]. - The net cash flow from operating activities was 219,557.40 million yuan, which is a 6.71% increase compared to the previous year [4]. Group 3: Initial Public Offering (IPO) Information - Kingsoft Office was listed on the Sci-Tech Innovation Board on November 18, 2019, with an initial offering price of 45.86 yuan per share [4]. - The total amount raised during the IPO was 463,186 million yuan, with a net amount of 445,940.27 million yuan after deducting issuance costs [5]. - The company originally planned to raise 205,012.53 million yuan for various development projects, but the actual net fundraising exceeded this by 240,927.74 million yuan [5].

Core Viewpoint - The shareholders of Kingsoft Office, specifically the "Qiwens" partnerships, are planning a non-public transfer of shares amounting to 7,761,767 shares, which represents 1.68% of the company's total share capital, to institutional investors through a pricing inquiry process [2][8]. Group 1: Shareholder Information - The selling shareholders, collectively referred to as "Qiwens," include multiple partnerships, all of which are associated with Beijing Kingsoft Qiwens Management Consulting Co., Ltd. [4] - The actual controller of the company, Lei Jun, and the major shareholder, Kingsoft WPS Corporation Limited, will not participate in this share transfer [2][4]. Group 2: Transfer Details - The total number of shares to be transferred is 7,761,767, which constitutes 22.16% of the shares held by the selling shareholders [8]. - The transfer is motivated by the selling shareholders' need for funds [8]. - The transfer will not occur through centralized bidding and will have a lock-up period of six months for the acquiring parties [2][3]. Group 3: Pricing Mechanism - The minimum transfer price will be set at no less than 70% of the average trading price of Kingsoft Office shares over the 20 trading days preceding the invitation for subscription [9]. - The pricing inquiry will prioritize subscription price, subscription quantity, and the order of receipt of subscription forms to determine the final transfer price [10]. Group 4: Investor Eligibility - Eligible investors for this transfer include institutional investors with appropriate pricing capabilities and risk tolerance, such as securities companies, fund management companies, and qualified foreign investors [11][12].

中国国际金融股份有限公司 关于北京金山办公软件股份有限公司 股东向特定机构投资者询价转让股份 2025 年 3 月 27 日，中金公司收到出让方关于本次询价转让的委托，委托中 1 金公司组织实施本次询价转让。 二、关于参与本次询价转让股东相关资格的核查情况 （一）核查过程 相关资格的核查意见 中国国际金融股份有限公司（以下简称"中金公司"）受北京金山办公软件 股份有限公司（以下简称"金山办公"）股东天津奇文一维企业管理咨询合伙企 业（有限合伙）（以下简称"奇文一维"）、天津奇文二维企业管理咨询合伙企业 （有限合伙）（以下简称"奇文二维"）、天津奇文三维企业管理咨询合伙企业（有 限合伙）（以下简称"奇文三维"）、天津奇文四维企业管理咨询合伙企业（有限 合伙）（以下简称"奇文四维"）、天津奇文五维企业管理咨询合伙企业（有限合 伙）（以下简称"奇文五维"）、天津奇文六维企业管理咨询合伙企业（有限合伙） （以下简称"奇文六维"）、天津奇文七维企业管理咨询合伙企业（有限合伙）（以 下简称"奇文七维"）、天津奇文九维企业管理咨询合伙企业（有限合伙）（以下 简称"奇文九维"）、天津奇文十维企业管理咨询合伙企业（有限合伙）（ ...

证券代码：688111 证券简称：金山办公 公告编号：2025-013 北京金山办公软件股份有限公司 股东询价转让计划书 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 拟参与金山办公首发前股东询价转让（以下简称"本次询价转让"）的股 东为奇文 N 维； 出让方拟转让股份的总数为 7,761,767 股，占公司总股本的比例为 1.68%； 本次询价转让为非公开转让，不会通过集中竞价交易方式进行。受让方 通过询价转让受让的股份，在受让后 6 个月内不得转让； 公司实际控制人雷军先生及控股股东 Kingsoft WPS Corporation Limited 不参与本次询价转让。 本次询价转让的受让方为具备相应定价能力和风险承受能力的机构投资 者。 一、拟参与转让的股东情况 股东天津奇文一维企业管理咨询合伙企业（有限合伙）（以下简称"奇文一维"）、天 津奇文二维企业管理咨询合伙企业（有限合伙）（以下简称"奇文二维"）、天津奇文三维 企业管理咨询合伙企业（有限合伙）（以下简称"奇文三维"）、天津奇文四维企业管理咨 询合伙企业（有限合伙）（以下简称"奇文四维"）、天津奇文五维企业管 ...

Core Viewpoint - The article highlights the integration of artificial intelligence in the healthcare sector through the "WPS 365 Medical Solution" developed by Kingsoft Office, aimed at enhancing the efficiency and quality of hospital operations while controlling costs in the digital transformation process [1]. Group 1: WPS 365 Medical Solution Features - The solution integrates document management, AI, multi-terminal collaboration, and comprehensive information security control to support the construction of smart hospitals [1]. - It focuses on a "three-in-one" approach to smart hospital construction, meeting the requirements for software legalization and innovation while enhancing hospital management [1]. - The solution allows hospitals to integrate with existing platforms without overhauling their current systems, facilitating a new office model [1]. Group 2: Application Scenarios - The solution provides practical applications in contract management, light approval processes, mobile office capabilities, document collaboration, and meeting organization [2][3]. - It includes lightweight tools such as intelligent forms and multi-dimensional tables to manage various hospital tasks and fill system gaps [3][4]. - The intelligent forms tool enhances contract review efficiency and risk management, while the multi-dimensional tables tool allows for zero-code system building and data visualization [3][4]. Group 3: Implementation and Impact - The WPS 365 Medical Solution has been implemented in multiple hospitals across the country, significantly improving operational efficiency [6]. - Collaborations with hospitals like Huashan Hospital and Beijing Tongren Hospital have led to enhanced information management and administrative efficiency through AI technology [6]. - The solution supports the maximization of data resources and real-time data synchronization for better management decision-making [6]. Group 4: Company Positioning - Kingsoft Office, as a leader in office software, leverages over 30 years of continuous innovation to provide comprehensive AI office solutions for the healthcare sector [6]. - The company aims to address multiple needs such as software legalization, healthcare innovation, and smart hospital construction, positioning itself as a key player in the digital transformation of healthcare [6].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [7][11]. Core Insights - The company reported a revenue of 5.12 billion yuan for 2024, representing a year-on-year growth of 12.40%. The net profit attributable to shareholders was 1.65 billion yuan, up 24.84% year-on-year [1]. - The company is focusing on its core strategic areas of "multi-screen, cloud, content, collaboration, and AI," with a significant increase in R&D investment, which reached 1.696 billion yuan in 2024, accounting for approximately 33% of revenue [1]. - The personal business segment showed steady growth, with revenue of 3.283 billion yuan, an 18.00% increase year-on-year, and a global monthly active device count of 632 million [2]. - The WPS 365 business targeting organizational clients saw a remarkable revenue increase of 149.33%, reaching 436.5 million yuan [3]. - The company is actively responding to national policies by focusing on government and enterprise client needs, promoting software legalization and domestic software substitution [3]. Financial Summary - The company forecasts revenues of 6.094 billion yuan, 7.146 billion yuan, and 8.369 billion yuan for 2025, 2026, and 2027, respectively. The net profit attributable to shareholders is projected to be 1.899 billion yuan, 2.287 billion yuan, and 2.753 billion yuan for the same years [4][8]. - The earnings per share (EPS) are expected to be 4.10 yuan, 4.94 yuan, and 5.95 yuan for 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (P/E) ratios of 75.87, 62.92, and 52.28 [4][8].

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [8]. Core Insights - The company achieved a revenue of 5.121 billion yuan in 2024, representing a year-on-year growth of 12.40%, and a net profit of 1.645 billion yuan, which is a 24.84% increase year-on-year [1]. - The growth is driven by two main factors: the personal business segment and the WPS365 service, with a strong focus on AI technology to enhance user experience and expand subscription growth both domestically and internationally [1][3]. - The company is a leading provider of office software in China, with a significant presence in over 220 countries and a monthly active device count exceeding 630 million [3]. Revenue Breakdown - The revenue from different business segments in 2024 is as follows: WPS personal business at 3.283 billion yuan (up 18.00%), WPS365 at 437 million yuan (up 149.33%), software business at 1.268 billion yuan (down 8.56%), and other businesses at 132 million yuan (down 37.17%) [2]. - The gross margins for these segments are 81.19%, 91.16%, 92.72%, and 91.30% respectively, indicating strong profitability in the WPS365 and software segments [2]. AI and Collaboration Focus - The company is focusing on collaboration and AI, with significant investments in R&D to enhance its market competitiveness in smart office solutions [6][7]. - The monthly active users of WPS AI reached 19.68 million, and the number of documents uploaded to the cloud surpassed 260 billion, showcasing the growing user engagement [7]. Financial Forecast - The company forecasts revenues of 6.413 billion yuan, 7.759 billion yuan, and 9.221 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 4.00 yuan, 4.86 yuan, and 5.88 yuan [8][10]. - The projected revenue growth rates are 25.2% for 2025, 21.0% for 2026, and 18.8% for 2027, indicating a robust growth trajectory [9].