Economic Information - The People's Bank of China emphasizes a cautious approach towards the development of stablecoins and will continue to combat domestic virtual currency operations to maintain financial order [2] - The China Securities Regulatory Commission (CSRC) has issued guidelines to strengthen the protection of small investors in the capital market, enhancing monitoring of abnormal trading behaviors and ensuring transparency regarding delisting risks [2][6] - October's polysilicon production is expected to reach approximately 134,000 tons, exceeding market expectations, while some leading companies plan to reduce production in November [3] Company Updates - Victory Technology reported a net profit of 1.102 billion yuan for Q3, a year-on-year increase of 260.52%, but a quarter-on-quarter decrease of 9.88% [5] - Taicheng Light's Q3 revenue was 386 million yuan, a year-on-year decrease of 4.98%, while net profit was 86.9765 million yuan, a year-on-year increase of 31.20% but a quarter-on-quarter decrease of 7.5% [5] - Several companies, including Tongrun Equipment and Jingji Agriculture, announced plans to reduce their shareholdings by up to 3% [7] Overseas Market Updates - International precious metal futures saw a significant decline of over 3%, with COMEX gold futures dropping 3.4% to $3,997 per ounce and silver futures falling 3.61% to $46.83 per ounce [5] - The UK government has cut the support scale for offshore wind farms by 18% to £900 million, while providing an £1.1 billion budget for renewable energy support auctions [5]

Group 1 - On October 28, a total of 3 companies had their restricted shares unlocked, with a total unlock volume of 102 million shares, valued at 4.665 billion yuan based on the latest closing price [1] - The companies involved in the unlock were Qilin Xinan, Hechuan Technology, and Jiufeng Energy, with unlock share counts of 61.984 million, 40.1373 million, and 659 shares respectively [1] - In terms of unlock market value, Qilin Xinan had 3.028 billion yuan, Hechuan Technology had 1.637 billion yuan, and Jiufeng Energy had 22,400 yuan [1] Group 2 - The proportion of unlocked shares relative to total share capital was 60.72% for Qilin Xinan, 26.58% for Hechuan Technology, and 0.0% for Jiufeng Energy [1]

Core Insights - The company reported a revenue of 159.02 million yuan for the first three quarters of 2025, marking a year-on-year growth of 6.06% [1] - In the third quarter, revenue reached 64.96 million yuan, with a year-on-year increase of 7.33% [1] - The company emphasizes research and development, with total R&D investment amounting to 68.37 million yuan, a year-on-year increase of 20.43% [1] - The R&D expense ratio is at 43%, up by 5.14 percentage points year-on-year [1] - As of June 30, 2025, the company has obtained 63 authorized patents and 214 software copyrights, indicating strong technological accumulation and innovation capability [1] Industry Engagement - The company is actively involved in the power sector, participating in the construction of next-generation scheduling, distribution, and substation systems, leading to steady revenue growth in this industry [2] - The company has secured contracts for new generation scheduling system projects in multiple cities, including Zhejiang and Shenyang, as well as operating system projects for major state-owned enterprises [2] - In addition to the power sector, the company has won orders in new market areas, including smart campus procurement projects for schools [2] - In the third quarter, the company successfully won contracts for domestic operating system projects with the National Pipeline Network Group and signed strategic cooperation agreements with various partners, indicating a strong market presence [2] - The recent strategic cooperation with a "little giant" enterprise in AI and operating systems further enhances the company's development path in health and medical sectors [2]

Core Insights - The company reported a revenue of 159 million yuan for the first three quarters of 2025, marking a year-on-year growth of 6.06%, with Q3 revenue reaching 64.96 million yuan, up 7.33% year-on-year, indicating a steady growth trend [1] - The company is experiencing a golden opportunity for domestic software replacement, driven by increased R&D investment and technological breakthroughs, which are expanding market space in the信创 (Xinchuang) sector [1] Financial Performance - For the first three quarters of 2025, the company's total R&D investment reached 68.37 million yuan, a year-on-year increase of 20.43%, with an R&D expense ratio of 43%, up 5.14 percentage points year-on-year [1] - In Q3 alone, R&D investment was 24.08 million yuan, showing a significant year-on-year growth of 37.52% [1] Industry Positioning - The company is a leading player in the domestic operating system sector, focusing on the electric power industry, which is seen as a stabilizing force for revenue growth [2] - The company successfully won bids for major projects with State Grid and Southern Power Grid, contributing to steady revenue growth in the electric power sector [2] Market Expansion - The company has made breakthroughs in emerging markets such as finance, education, and government, with notable projects including a successful bid for a core IT infrastructure project with Zhongtai Securities [2] - In the education sector, the company has deployed over 500 cloud desktop terminals in various schools, enhancing resource management and integration [3] Ecosystem Collaboration - The company is actively participating in the national open-source technology foundation, pledging 3 million yuan to support the openEuler project group [4] - A strategic partnership has been established with Wisdom Eye Technology to explore intelligent terminal solutions in health and medical scenarios, expanding product application boundaries [4] - The company is transitioning from a "replacement-type信创" to an "innovation-driven ecological collaboration" phase, building a solid technological barrier and market network [4]

Core Viewpoint - 麒麟信安 reported a mixed financial performance for the first three quarters of 2025, with a slight increase in revenue but continued net losses [1] Financial Performance - The company's operating revenue for the first three quarters of 2025 was 159 million yuan, representing a year-on-year growth of 6.06% [1] - The net profit attributable to shareholders was -18.43 million yuan, an improvement from -22.93 million yuan in the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -47.14 million yuan, compared to -38.14 million yuan in the previous year [1] - The net cash flow from operating activities was -10.44 million yuan, an improvement from -32.63 million yuan year-on-year [1] Historical Context - 麒麟信安 was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2022, with an initial public offering price of 68.89 yuan per share [2][3] - The company raised a total of 910.12 million yuan, with a net amount of 833.19 million yuan after deducting issuance costs [3] - The company plans to use the raised funds for various projects, including product upgrades and marketing system construction [3] Future Projections - For 2023 and 2024, the projected net profits attributable to shareholders are -30.12 million yuan and 7.94 million yuan, respectively [4] - The projected net profit after deducting non-recurring gains and losses for the same years is -60.59 million yuan and -16.74 million yuan, respectively [4] - The projected net cash flow from operating activities for 2023 and 2024 is -41.34 million yuan and -7.46 million yuan, respectively [4]

Core Viewpoint - The domestic operating system leader, Kirin Xin'an, is poised to enter a prosperous period in the信创 industry, driven by technological innovation and market expansion. Group 1: Financial Performance - In the first three quarters of 2025, the company achieved revenue of 159 million yuan, a year-on-year increase of 6.06% [1] - In Q3, the revenue reached 64.96 million yuan, growing by 7.33% year-on-year, indicating a steady growth trend [1] - The total R&D investment for the first three quarters amounted to 68.37 million yuan, up 20.43% year-on-year, with a R&D expense ratio of 43%, an increase of 5.14 percentage points year-on-year [1] Group 2: Technological Innovation - The company has accumulated 63 authorized patents and 214 software copyrights as of June 2025, showcasing its enhanced technological capabilities and innovation [1] - In Q3, R&D investment was 24.08 million yuan, a significant increase of 37.52% year-on-year [1] Group 3: Market Expansion - Kirin Xin'an has made breakthroughs in both traditional and emerging markets, particularly in the electric power sector, where it has participated in the construction of next-generation scheduling and distribution systems [2] - The company has secured contracts for smart campus projects in various schools, marking its success in multiple sectors including energy, finance, and education [3] - Recent strategic partnerships with companies like Wisdom Eye Technology and collaborations in the "AI + operating system" integration further deepen its market expansion in health and medical fields [3] Group 4: Industry Outlook - The信创 industry is expected to experience a new wave of development in 2025, with the market scale likely to exceed 1.8 trillion yuan, accelerating the construction of a domestic digital ecosystem [1] - As a leading enterprise in the domestic operating system sector, Kirin Xin'an is actively participating in open-source communities like openEuler, which is crucial for the development of the信创 industry [3]

Group 1 - The company announced that it will hold its 25th meeting of the second board of directors on October 20, 2025 [2] - The board approved a proposal regarding external donation matters [2] - The company plans to donate 3 million yuan to the Open Atom Open Source Foundation using its own funds [2]

Core Points - Kirin Security announced the listing of its shares as a first-time restricted stock offering [2] - The total number of shares to be listed is 61,984,000 [2] - The shares will be available for trading starting from October 28, 2025 [2] Company Summary - The stock subscription method is offline [2] - The total number of shares for circulation upon listing is 61,984,000 [2]

证券代码：688152 证券简称：麒麟信安 公告编号：2025-087 湖南麒麟信安科技股份有限公司 首次公开发行部分限售股上市流通的提示性公告 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： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 61,984,000股。 本次股票上市流通总数为61,984,000股。 本次股票上市流通日期为2025 年 10 月 28 日。 一、本次上市流通的限售股类型 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意湖南麒 麟信安科技股份有限公司首次公开发行股票注册的批复》(证监许可〔2022〕2092 号)同意，公司向社会公开发行人民币普通股（A 股）13,211,181 股，并于 2022 年 10 月 28 日在上海证券交易所科创板挂牌上市。公司首次公开发行 A 股前总股本 为 39,633,543 股，首次公开发行 A 股后总股本为 52,844,724 股，其中有限售条件 流通股 41,531,336 股，无限售条件流通股 11,313,38 ...

湖南麒麟信安科技股份有限公司（以下简称"公司"或"麒麟信安"）于 2025 年 10 月 20 日召开了第二届董事会第二十五次会议，审议通过了《关于作废 2024 年限制性股票激励计划部分限制性股票的议案》，现将有关事项说明如下： 证券代码：688152 证券简称：麒麟信安 公告编号：2025-081 湖南麒麟信安科技股份有限公司 关于作废 2024 年限制性股票激励计划部分限制性 股票的公告 本公司董事会及全体董事保证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。 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、2024 年 8 月 9 日，公司召开第二届董事会第九次会议，审议并通过《关 于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2024 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授权董 事会办理公司 2024 年限制性股票激励计划相关事宜的议案》等议案。 同日，公司召开第二届监事会第九次会议，审议并通过《关于公司<2024 年 限制性股票激励计划（草案）>及其摘要的议案》《关于公司 ...