中国国际金融股份有限公司 关于优刻得科技股份有限公司 2024 年度 募集资金存放与实际使用情况的核查意见 根据《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要 求》《证券发行上市保荐业务管理办法》《上海证券交易所科创板上市公司自律 监管指引第 1 号——规范运作》《上海证券交易所科创板股票上市规则》《上海 证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律、法规的 规定，中国国际金融股份有限公司（以下简称"中金公司"和"保荐机构"）作 为优刻得科技股份有限公司（以下简称"公司"）持续督导工作的保荐机构，对 优刻得 2024 年度募集资金存放与使用情况进行了审慎核查，核查情况及意见如 下： 一、募集资金基本情况 （一）募集资金金额和资金到账时间 1、首次公开发行股票募集资金 经中国证券监督管理委员会《关于同意优刻得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[2019]2917 号）同意注册，公司向社会公开发行 人民币普通股 58,500,000 股，每股面值人民币 1.00 元，每股发行价为人民币 33.23 元，募集资金总额共计人民币 1,943,955,00 ...

优刻得科技股份有限公司 财务报表及财务报表附注 2024 年度 审计报告 信会师报字[2025]第 ZA11242 号 优刻得科技股份有限公司全体股东： 一、 审计意见 我们审计了优刻得科技股份有限公司（以下简称"优刻得"）财 务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公 司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的 规定编制，公允反映了优刻得 2024 年 12 月 31 日的合并及母公司财 务状况以及 2024 年度的合并及母公司经营成果和现金流量。 二、 形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计 报告的"注册会计师对财务报表审计的责任"部分进一步阐述了我们 在这些准则下的责任。按照中国注册会计师职业道德守则，我们独立 于优刻得，并履行了职业道德方面的其他责任。我们相信，我们获取 的审计证据是充分、适当的，为发表审计意见提供了基础。 三、 关键审计事项 关键审计事项是我们根据职业判断，认为对本期财务报表审计最 为重要的事 ...

优刻得科技股份有限公司 营业收入扣除情况表的鉴证报告 2024 年度 关于优刻得科技股份有限公司2024年度 营业收入扣除情况表的鉴证报告 信会师报字[2025]第ZA11244号 我们按照《中国注册会计师其他鉴证业务准则第3101号——历史 财务信息审计或审阅以外的鉴证业务》的规定执行了鉴证业务。该准 则要求我们遵守职业道德规范，计划和实施鉴证工作，以对营业收入 扣除情况表是否在所有重大方面按照《上海证券交易所科创板股票上 鉴证报告第 1 页 市规则》和上海证券交易所《科创板上市公司自律监管指南第9号— —财务类退市指标：营业收入扣除》的相关规定编制，如实反映优刻 得公司2024年度营业收入扣除情况获取合理保证。在执行鉴证工作过 程中，我们实施了包括询问、检查会计记录等我们认为必要的程序。 我们相信，我们的鉴证工作为发表鉴证结论提供了合理的基础。 四、鉴证结论 优刻得科技股份有限公司全体股东： 我们审计了优刻得科技股份有限公司(以下简称"优刻得公 司")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司 资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流 量表、合并 ...

Financial Performance - The company reported a basic earnings per share of -0.5300 yuan for 2024, an improvement of 30.26% compared to -0.7600 yuan in 2023 [1] - The net profit for 2024 was -2.41 billion yuan, showing a 29.74% improvement from -3.43 billion yuan in 2023 [1] - The return on equity (ROE) improved to -9.58% in 2024 from -12.24% in 2023, reflecting a 21.73% increase [1] - Total revenue for 2024 was 15.03 billion yuan, slightly down by 0.79% from 15.15 billion yuan in 2023 [1] - The net asset per share decreased by 8.95% to 5.29 yuan in 2024 from 5.81 yuan in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 100.88 million shares, accounting for 25.07% of the circulating shares, a decrease of 2.86 million shares from the previous period [2] - Major shareholders include China Mobile Capital Holdings with 23.54 million shares (5.85%), and Mo Xianfeng with 23.43 million shares (5.82%), both remaining unchanged [3] - New entrants among the top shareholders include Chen Chunhuan with 2.04 million shares (0.51%) and Liu Juan with 1.84 million shares (0.46%) [3] Dividend Policy - The company has decided not to distribute dividends or increase capital [3]

优刻得公告，2024年营业收入为15.03亿元，同比下降0.81%。归属于上市公司股东的净亏损2.41亿元， 去年同期净亏损3.43亿元。公司2024年度利润分配方案为不派发现金红利，不送红股，不以资本公积转 增股本。 ...

Group 1 - The company's revenue for Q1 2025 is 376 million yuan, representing a year-on-year growth of 7.97% [1] - The net loss for the company in Q1 2025 is 44.73 million yuan, an improvement compared to the net loss of 61.87 million yuan in the same period last year [1]

Core Insights - The privacy computing industry is characterized by a collaborative development across its entire value chain, which includes upstream hardware, midstream technology services, and downstream applications across various sectors such as government, finance, and education [1][2]. Industry Overview - The upstream of the privacy computing industry primarily consists of trusted hardware such as encryption chips and specialized processors, while the midstream includes technology and service providers offering various security protection technologies and application technologies [1]. - The downstream application layer encompasses a wide range of sectors, indicating a broad market potential for privacy computing solutions [1]. Regional Distribution - The distribution of representative companies in the privacy computing industry is relatively dispersed, with Shanghai having a well-established layout across the entire value chain, followed by Beijing, Guangdong, and Zhejiang [2]. Company Performance - Tencent leads in R&D investment within the privacy computing sector, followed closely by Alibaba and Baidu, with significant variations in R&D expenditure as a percentage of revenue among companies [6]. - Notable advancements in privacy computing have been reported by companies such as AsiaInfo, NSFOCUS, and Tuolsi [6]. R&D Investment - AsiaInfo's R&D investment totaled 319 million yuan, accounting for 28.8% of its revenue, while NSFOCUS invested 416 million yuan, representing 32.7% of its revenue [7]. - The R&D efforts of various companies are focused on developing comprehensive solutions in privacy computing, including secure execution environments and integrated systems [7]. Investment Trends - Privacy computing companies are actively investing in sectors such as scientific research, technology services, and financial services to enhance their technological capabilities and expand their market reach [10]. - Recent investments include AsiaInfo's 10 million yuan investment in Tianjin AsiaInfo Security Technology Co., and NSFOCUS's 510 million yuan investment in Nanjing Tuolsi Intelligent Systems Co., among others [11][12].

Investment Rating - Industry rating: Recommended [5] Core Viewpoints - The ongoing tariff war between the US and China has intensified, with the US imposing a 34% tariff on Chinese imports, prompting China to respond with similar tariffs, which accelerates the domestic innovation and localization process in the technology sector [1][3][14] - The Chinese government emphasizes "technological self-reliance" as a core agenda, with policies aimed at enhancing key technology breakthroughs and increasing investment in basic research, which supports the growth of the domestic technology industry [2][26] - The tariff situation has led to significant market volatility, with the Chinese stock market experiencing a drop of over 7% in a single day, but state-owned enterprises have stepped in to stabilize the market through share buybacks and acquisitions [3][32] Summary by Sections 1. Changes in Foreign Tariff Policies - The US has implemented a "reciprocal tariff" policy, raising tariffs on Chinese goods, which has increased the cost of imported high-end components for the Chinese tech industry, particularly in hardware sectors like chips and servers [1][14][19] - The tariff war has created short-term challenges for the domestic innovation industry, but it also accelerates the push for domestic alternatives and self-sufficiency in technology [19][35] 2. Policy Promotion of Self-Reliance - The Chinese government has introduced measures to strengthen key technology research and optimize the layout of scientific research resources, aiming to create a trillion-level domestic innovation industry cluster by 2027 [2][28] - Local governments are also implementing supportive policies to promote domestic technology development, focusing on areas such as artificial intelligence and software ecosystems [28][30] 3. Corporate Actions and Domestic Tariff Responses - In response to the tariff war, state-owned enterprises have increased share buybacks to bolster market confidence, with 18 central enterprises taking action to stabilize the market [3][32] - The domestic chip market is benefiting from the increased prices of imported chips, highlighting the competitive advantage of domestic alternatives [3][31] 4. Investment Recommendations - Beneficial targets include core domestic innovation companies such as China Software, China Great Wall, and Dongfang Tong, as well as domestic computing and chip firms like Tuwei Information and Haiguang Information [4][39]

2024 年度持续督导工作现场检查报告 上海证券交易所： 中国国际金融股份有限公司 根据《上海证券交易所上市公司科创板股票上市规则》等有关法律、法规的规定， 中国国际金融股份有限公司（以下简称"保荐机构"、"中金公司"）作为正在履行优刻 得科技股份有限公司（以下简称"优刻得"、"公司"）持续督导工作的保荐机构，对公 司 2024 年度情况进行了现场检查，现就现场检查的有关情况报告如下： 关于优刻得科技股份有限公司 一、本次现场检查的基本情况 （一）保荐机构：中国国际金融股份有限公司 （二）保荐代表人：曹宇、马强 （三）现场检查时间：2025 年 3 月 27 日 （四）现场检查人员：马强、费海珊 （五）现场检查内容：公司治理及内部控制、信息披露、独立性、与关联方的资金 往来、募集资金使用情况、关联交易、对外担保、重大对外投资及公司经营状况等。 （六）现场检查手段： 1、对公司首席财务官进行访谈； 2、查阅公司公告、公司治理文件、重大合同、公司定期报告等底稿文件； 3、查阅公司募集资金使用凭证、募集资金专户银行对账单等资料； 4、查阅公司本持续督导期建立或更新的有关内控制度文件； 5、核查公司本持续督导期发生的 ...

Core Insights - The rise of DeepSeek significantly lowers the industry threshold, enabling major breakthroughs in large model applications across various sectors [4] - DeepSeek reduces training model costs to 5%-10% of previous levels, enhancing the feasibility of business models in AI companion toys and similar applications [1] - The demand for inference computing power is expected to grow rapidly as startups can now utilize their data and application experience at lower costs [1] Model Performance Evaluation - The performance of DeepSeek is assessed based on five criteria: breadth of knowledge, inference capability, cost-effectiveness, safety, and hallucination severity [2] - DeepSeek demonstrates strong inference capability and high cost-performance ratio, but there is room for improvement in knowledge base, safety, and hallucination issues [2] Opportunities and Challenges - The deployment of DeepSeek requires substantial computing resources, with cloud computing providing flexible and scalable solutions [3] - Companies face opportunities as various enterprises begin to adopt large models, but they must also navigate the rapid evolution of technology and industry [3] - The competitive landscape is characterized by intense homogenization, yet demand currently exceeds supply [3] Cloud Computing and Infrastructure - The establishment of self-built intelligent computing centers has proven beneficial for companies like UCloud, enhancing revenue and profit while reducing operational costs [5] - UCloud's neutral cloud strategy fosters trust among users, allowing for rapid product and service advancements [5] Domestic AI Chip Ecosystem - The emergence of DeepSeek presents opportunities for domestic AI chips, with collaborative hardware-software design methods enhancing performance under limited computing power [6] - UCloud has completed adaptations of DeepSeek models based on Huawei's Ascend AI chips, integrating cloud platform advantages with high-quality computing power [6] - The gap between domestic models and leading overseas models is narrowing, encouraging clients to consider "Chinese solutions" as viable alternatives [6] Future Developments - Current domestic chips are operational but not yet optimal in performance or cost, prompting UCloud to collaborate with partners for further optimization [7] - UCloud is considering launching an integrated "Xinchuang" version to meet customer needs while maintaining cost-effectiveness [7]