Core Points - The company, 博睿数据 (688229.SH), announced that Mr. 孟曦东 has reduced his shareholding in the company through block trading and centralized bidding [1] - Mr. 孟曦东 sold a total of 1 million shares, representing 2.25% of the company's total share capital, and now holds 3.7066 million shares, which is 8.35% of the total [1] - The reduction in shareholding was completed on November 7, 2025, with a specific decrease of 880,000 shares through block trading and 120,000 shares through centralized bidding [1] Summary by Category Shareholding Changes - Mr. 孟曦东 reduced his shareholding by 1.98% through block trading and 0.27% through centralized bidding, totaling 2.25% [1] - Post-reduction, Mr. 孟曦东 and his concerted parties hold 5.0366 million shares, down from 5.9166 million shares, decreasing their ownership percentage from 13.33% to 11.34% [1] Transaction Details - The share reduction was executed via two methods: 880,000 shares through block trading and 120,000 shares through centralized bidding [1] - The completion of the share reduction plan was confirmed on the same day as the announcement [1]

证券代码：688229 证券简称：博睿数据 公告编号：2025-042 北京博睿宏远数据科技股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度暨减 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： 大股东及董事持有的基本情况 本次减持计划实施前，北京博睿宏远数据科技股份有限公司（以下简称"公 司"）持股 5%以上股东、董事、副总经理、董事会秘书、核心技术人员孟曦东先 生直接持有公司股份 4,706,610 股，占公司总股本的 10.60%。 上海元亨利汇咨询管理中心（有限合伙）（以下简称"元亨利汇"）为孟曦东 先生的一致行动人。本次减持计划实施前，元亨利汇持有公司股份 1,650,000 股，占公司总股本的比例为 3.72%，孟曦东先生与其一致行动人合计持有公司股 份 6,356,610 股，占公司总股本的比例为 14.32%。 上述股份均为无限售流通股且来源于公司首次公开发行前取得的股份。 减持计划的实施结果情况 2025 年 9 月 13 日，公司在上海证券交易所网站（ ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% compared to the benchmark index within the next six months [8][14]. Core Insights - The company is actively pursuing cost reduction and efficiency improvement strategies, with a global launch of the new product Bonree ONE Autumn Edition focused on AI integration and enhanced observability capabilities [5][6]. - For the first three quarters of 2025, the company reported revenue of 101 million yuan, a year-on-year decrease of 3.92%, while total profit reached -42 million yuan, an increase of 34.34% year-on-year [5][6]. - The company experienced a significant decline in revenue in Q3 2025, with a 19.75% drop compared to the same period last year, primarily due to certain contracts not meeting revenue recognition criteria [5][6]. Financial Performance Summary - The company’s revenue projections for 2025-2027 are estimated at 173 million, 235 million, and 302 million yuan, reflecting year-on-year growth rates of 22.78%, 36.11%, and 28.54% respectively [8][10]. - The forecasted net profit for the same period is expected to be -30.21 million, 15.72 million, and 62.05 million yuan, with significant year-on-year growth rates of 73.77%, 152.02%, and 294.79% respectively [8][10]. - The company’s earnings per share (EPS) is projected to improve from -0.68 yuan in 2025 to 1.40 yuan in 2027 [10][11].

Group 1 - The corporate service industry is facing significant challenges, with many companies struggling to survive in a tough economic environment [2] - A leading operations company, BoRui Data, resorted to "executives using personal funds to subsidize clients" to secure a major client with a workforce of over 10,000 [3][4] - BoRui Data won a project originally budgeted at 5 million, but they reduced their bid to approximately 2.4 million to win the contract [4] Group 2 - Anthropic's announcement to prohibit Chinese capital-controlled enterprises from using its AI services poses a risk to AWS's business in China, which generates nearly 600 million annually [6][7] - Despite the restrictions, AWS's business in China experienced explosive growth of about 1600% in the past year, with current monthly revenues stabilizing around 40 to 50 million [6] - The new ban is seen as more damaging than previous restrictions due to its stringent review standards, potentially leading to a "supply cut" risk for AWS in China [7] Group 3 - YuZhou Cloud has implemented strict KPIs, with detailed percentage requirements for various business segments, making AI performance a critical factor [8][9] - The sales team at YuZhou Cloud faces challenges as their AI business performance is now strictly evaluated, with a "one-vote veto" rule in place for AI token usage [9] Group 4 - Microsoft Cloud's ecosystem in China is undergoing positive changes, with a restructuring of its agent system to improve efficiency and collaboration [10][11] - The integration of local and Asia-Pacific teams aims to reduce internal competition and enhance cooperation among partners [10] Group 5 - A major cloud provider in Southern China is experiencing difficulties in its observability and logging services due to departmental competition and lack of integration [12][13] - The separation of observability and logging services leads to a fragmented customer experience, complicating the delivery of a comprehensive monitoring platform [12] Group 6 - SHEIN has signed a significant renewal contract worth 1.5 billion with AWS, while its contracts with Google Cloud and Microsoft Cloud are at different stages [15][16][17] - The renewal with AWS is a five-year deal totaling 1.5 billion, while the contract with Google Cloud is not set to expire until the end of next year [17] Group 7 - A leading internet cloud provider is facing challenges with its large model products, which are not yet mature and have slow development cycles, leading to low sales enthusiasm [18] - The management has not enforced the inclusion of large model product revenues in sales KPIs, recognizing the products' current limitations [18] Group 8 - The former head of AWS China West, Cai Tao, has joined Microsoft Cloud, taking over the Digital Native division, which serves key internet and gaming clients [19][20] - Cai Tao faces immediate challenges, including the reassignment of significant clients, necessitating a focus on acquiring new customers and retaining existing ones [20]

证券代码：688229 证券简称：博睿数据 公告编号：2025-041 北京博睿宏远数据科技股份有限公司 关于持股 5%以上股东及其一致行动人权益变动 触及 1%刻度的提示性公告 本公司董事会、全体董事及相关股东保证向本公司提供的信息真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事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： 冯云彪先生本次权益变动情况 | 权益变动方向 | 比例增加□ | | 比例减少☑ | | --- | --- | --- | --- | | 权益变动前合计比例 | 11.41% | | | | 权益变动后合计比例 | 10.57% | | | | 本次变动是否违反已作出的承 诺、意向、计划 | 是□ | 否☑ | | | 是否触发强制要约收购义务 | 是□ | 否☑ | | 注：本公告中所有比例数据如有差异，系按照四舍五入保留两位小数所致。 孟曦东先生及其一致行动人本次权益变动情况 | 权益变动方向 | 比例增加□ | | 比例减少☑ | | --- | --- | --- | --- | | 权益变动前合计比例 | 14.32% | | ...

Core Viewpoint - The company, 博睿数据 (688229.SH), has reported significant share reductions by key shareholders, indicating potential shifts in ownership dynamics and investor sentiment [1] Shareholder Actions - Mr. 冯云彪 has reduced his shareholding by 370,000 shares, representing 0.83% of the total share capital, decreasing his direct holdings from 5.0643 million shares to 4.6943 million shares, which lowers his ownership percentage from 11.41% to 10.57% [1] - Mr. 孟曦东 and his concerted party, 元亨利汇, have collectively reduced their holdings by 440,000 shares, accounting for 0.99% of the total share capital, resulting in a decrease in their ownership from 14.32% to 13.33% [1]

Core Points - Major shareholders Feng Yunbiao and Meng Xidong have reduced their stakes in the company through centralized bidding transactions, with Feng reducing his holdings by 369,988 shares, representing 0.83% of the total share capital, decreasing his ownership from 11.41% to 10.57% [1] - Meng Xidong and his concerted action party, Yuanheng Lihui, have collectively reduced their holdings by 0.99% of the total share capital, lowering their ownership from 14.32% to 13.33% [1] - The changes in equity are part of a planned reduction and do not trigger a mandatory takeover bid, nor do they affect the company's control [1] - Both shareholders have not completed their reduction plans yet [1]

Core Insights - The announcement from Borui Data indicates that as of October 31, 2025, significant shareholders Feng Yunbiao and Meng Xidong have reduced their holdings in the company through centralized bidding transactions, impacting the overall shareholding structure [1] Shareholder Changes - Shareholder Feng Yunbiao has cumulatively reduced his shareholding by 369,988 shares, which represents 0.83% of the total share capital, decreasing his ownership from 11.41% to 10.57% [1] - Shareholder Meng Xidong and his concerted party Yuanheng Lihui have collectively reduced their shareholding by 0.99% of the total share capital, lowering their ownership from 14.32% to 13.33% [1] - Both shareholders' changes in equity have reached the 1% threshold, but these reductions are part of a planned divestment and do not trigger a mandatory takeover bid, nor do they affect the company's control [1]

Core Insights - Bonree Data launched the Bonree ONE 2025 Fall Edition, an integrated intelligent observability platform aimed at helping enterprises navigate complex digital systems more effectively [1] - The company emphasizes that observability is a strategic cornerstone for businesses, especially in the context of AI-driven industrial transformation [1] Group 1: AI Deep Integration - The platform features a multi-dimensional intelligent module collaboration framework that integrates observability with AI, enabling autonomous operational decision-making and precise root cause analysis [3][4] - The "Xiao Rui Assistant" serves as a unified interaction entry point, offering intelligent Q&A, navigation guidance, and AI writing capabilities to enhance user experience [3] Group 2: Comprehensive Multi-Dimensional Observability - The observability capability is centered around business forms, organizing IT operations data for layered and categorized presentation, allowing for quick emergency recovery and business continuity [5] - Users can customize key path views around core business processes, enabling a holistic view of system architecture and operational status [5] Group 3: Architecture Breakthrough and Upgrades - The core ETL engine, Ingester, has been restructured to reduce resource consumption by 65% and achieve millisecond-level data access, enhancing query efficiency [6][8] - The QueryService has significantly improved compatibility with PromQL, increasing query convenience and capability [6][9] Group 4: AI Service and Intelligent Capabilities - The AI Service is built around large model technology, featuring intelligent modules for smart Q&A, next-generation root cause analysis, and natural language-driven intelligent retrieval [10] - The platform supports flexible scheduling and closed-loop service capabilities, facilitating comprehensive coverage of AI technology from generation to implementation [10] Group 5: Industry Recognition and Application - Bonree ONE has gained recognition from over a hundred leading clients across key sectors such as finance, internet, energy, and manufacturing [11] - Guotou Securities has implemented Bonree ONE to enhance its end-to-end observability system, improving collaboration efficiency across various operational scenarios [11] Group 6: Future Outlook - Bonree Data plans to increase overseas investments, focusing on deepening its presence in Southeast Asia and expanding its global business footprint [16] - The company aims to become a top-tier high-tech firm in the enterprise service sector, committed to building smarter and more reliable observability capabilities for global clients [16]

Core Insights - The report indicates that as of October 28, 2025, three institutional investors hold a total of 3.5728 million shares of Borui Data (688229.SH), representing 8.05% of the company's total share capital [1] - The institutional holding percentage has decreased by 1.66 percentage points compared to the previous quarter [1] - A total of 47 public funds were disclosed in this period, with notable funds including Dachen CSI 360 Internet + Index A and Guotai Small and Medium Growth Mixed (LOF) [1] Institutional Holdings - Three institutional investors are reported to hold shares in Borui Data, with a combined holding of 3.5728 million shares [1] - The total institutional holding accounts for 8.05% of the company's total share capital [1] - The institutional holding percentage has seen a decline of 1.66 percentage points from the last quarter [1] Public Fund Disclosure - The report mentions that 47 public funds were disclosed this quarter, which were not reported in the previous quarter [1] - Key public funds include Dachen CSI 360 Internet + Index A, Nuon Multi-Strategy Mixed A, and Guotai Small and Medium Growth Mixed (LOF) [1] - The presence of these funds indicates ongoing interest in Borui Data from various investment vehicles [1]