Summary of Conference Call Company and Industry Overview - The company is primarily engaged in technology software, focusing on two major product lines: firmware (BIOS and BMC) for device design and cloud application services [1][2] - The industry is experiencing stable growth, particularly in self-controlled products, with a notable increase in domestic product promotion [2] Core Insights and Arguments - The company has seen a consistent revenue growth of approximately 10% annually, translating to around $12 million in revenue [3] - The global market for IDE tools is significant, with an estimated 1.6 million engineers worldwide, indicating substantial growth potential [4] - AI integration in software development is enhancing efficiency by approximately 30% for medium to large software projects, with a focus on IDE companies leveraging AI capabilities [5] - The company is positioning itself against larger competitors by focusing on niche markets and specific use cases rather than competing directly with general-purpose IDEs [7][8] Competitive Landscape - The company acknowledges competition from major players like Huawei and emphasizes its strategy of developing specialized IDE tools for specific scenarios [7] - The market share in the domestic sector is approximately 90%, while the international market share is less than 5% [12] Financial Performance and Projections - The company anticipates a revenue increase of about 15% for existing products in 2025, excluding new product launches [16] - The gross margin has been under pressure, but there are expectations for improvement as the company refines its product offerings and operational efficiencies [15] Product Development and Strategy - The company is developing lightweight IDE products aimed at small to medium-sized enterprises, integrating AI to enhance functionality [9][10] - There is a focus on collaboration with other companies to expand user bases, with plans to onboard 500,000 users through partnerships [15][18] - The company is also exploring integration with the HarmonyOS ecosystem, aiming to provide tools that facilitate development within this framework [19] Additional Insights - The company is adapting to market demands by shifting towards self-sufficient and controllable solutions, particularly in response to government encouragement for domestic equipment adoption [11] - The company is managing operational costs effectively, with a reduction in base expenses expected compared to the previous year [17] Conclusion - The conference highlighted the company's strategic focus on niche markets, AI integration, and collaboration to drive growth in a competitive landscape, while also addressing financial performance and future projections.

Summary of the Conference Call for 卓易信息 Company Overview - 卓易信息 primarily engages in the development of programming software products, with core products including BIOS and DMC firmware, and IDE acquired in 2024. The company mainly serves the European and American markets, generating annual revenue of approximately $18 million, with a growth rate of 5% to 10% per year [3][3]. Core Business and Products - The company focuses on IDE tool development and is actively expanding into ICD development, having started to explore Java and HarmonyOS in 2024, with plans to launch a commercial version in 2025 [3][3]. - AI-enabled IDE tools enhance efficiency by 20% to 30% for medium to large software developers, while AI automatic programming tools, which rely 80% on AI, are more suitable for beginners and lower-end users [4][4]. Financial Performance - In 2024, 卓易信息 achieved revenue exceeding 300 million RMB, with a subscription model ensuring good cash flow and no accounts receivable issues. For 2025, the company expects a natural growth of 10% to 15% without launching new products [5][5]. Market Demand - The global automatic programming market is substantial, with the Chinese market estimated at approximately 15 billion RMB and the overseas market nearing $30 billion. Overseas users exhibit better payment habits, with a higher proportion purchasing software usage rights compared to domestic companies [6][6]. Customer Base and Growth - The company has 60,000 to 80,000 customers overseas, with 18,000 being paying users, averaging payments of around 6,000 RMB each. This segment experiences stable annual growth of 5% to 10% [7][7]. - The DotNet global user base is approximately 8 million, primarily overseas, with recent downloads reaching 5,000 in the last month [7][7]. Product Launch Plans - A domestic developer preview version is set to be released in March in collaboration with Beijing Digital Paradise, with Java and HarmonyOS versions expected in December [8][8]. Collaboration and Technology Integration - The company has partnered with NVIDIA to integrate ChatGPT into its products, with plans to launch a low-end product for junior engineers in June [9][10]. Competitive Landscape - 卓易信息 differentiates itself from other low-code platforms by providing a comprehensive IDE tool that allows users to develop and modify independently, unlike competitors who offer limited modifications on existing platforms [12][12]. Future Directions - The company plans to continue its subscription model and may enhance user engagement through additional AI features, although overall pricing may decline due to market trends [17][18]. - Current active users number around 18,000, with new products attracting approximately 5,000 active users [19][19]. Language Support and Commercialization - The company supports dotNet and JavaScript, with plans to commercialize Java and HarmonyOS based on user penetration and payment metrics from the first quarter [20][20].

Investment Rating - The report maintains a "Buy" investment rating for the company [1] Core Views - The company is advancing in both mergers and acquisitions as well as technology upgrades, particularly in the fields of domestic innovation and development tools [1] - The acquisition of a 48% stake in Aipu Yang Technology has been completed, resulting in full ownership, which is expected to stabilize and slightly grow the revenue from the PowerBuilder product line [3] - The low-code IDE tool SnapDevelop has gained traction with nearly 4,000 trial users, showcasing AI capabilities that enhance coding efficiency [4] - The company is positioned as a leading supplier of core firmware in the domestic innovation sector, collaborating with major domestic chip manufacturers and maintaining a strong market presence [5][7] Financial Forecast - Revenue projections for 2024, 2025, and 2026 are estimated at 395 million, 502 million, and 644 million respectively, with corresponding EPS of 0.57, 0.78, and 0.99 [8][10] - The company is expected to experience significant growth, with revenue growth rates of 23.3%, 27.2%, and 28.3% for the years 2024 to 2026 [10] - The report indicates a steady increase in net profit, with projections of 69 million, 95 million, and 120 million for the same years [10]

Investment Rating - The report assigns a "Buy" rating to the company [2] Core Insights - The company is a leading player in the domestic BIOS/BMC firmware market and offers a rare AI programming platform, indicating strong growth potential [5][9] - The company has a projected market size of nearly 800 billion RMB for its AI programming platform and approximately 65 billion RMB for the firmware industry [5][46] - The company is expected to benefit from the acceleration of domestic substitution trends in both its IDE and firmware businesses [5][30] Company Overview - The company, established in 2008, focuses on the "independent, secure, and controllable" cloud computing industry chain, providing integrated development tools (IDE) and firmware for computing devices [9][11] - The company has a strong foothold in the cloud computing firmware market, being one of the few firms capable of developing BIOS for multiple architectures including X86, ARM, and MIPS [11][49] Financial Analysis - The company reported total revenue of 320 million RMB in 2023, a year-on-year increase of 13.5%, with a compound annual growth rate of approximately 8.48% from 2019 to 2023 [13][14] - The projected earnings per share (EPS) for 2024-2026 are 0.38, 0.53, and 0.66 RMB, respectively, with corresponding price-to-earnings (P/E) ratios of 112.09, 81.82, and 65.23 [6] IDE Business - The company has acquired Aipuyang Technology to enhance its application development capabilities, focusing on integrated development tools (IDE) [20] - The SnapDevelop platform, launched in 2024, is a low-code IDE that significantly improves development efficiency by 2-3 times compared to traditional methods [22][30] Firmware Industry - The firmware market is characterized by high barriers to entry, with the company being the only major Intel-authorized supplier in mainland China [48][49] - The total market size for BIOS and BMC firmware is estimated at around 65 billion RMB globally, with the domestic market size approximately 21 billion RMB [46][41]

Investment Rating - The report assigns a "Buy" rating to the company [2] Core Insights - The company, Zhuoyi Information, is a leading player in the domestic BIOS/BMC firmware market and offers a rare AI programming platform, indicating strong growth potential driven by dual engines [5][9] - The company has a projected market size of nearly 80 billion RMB for its AI programming platform and approximately 6.5 billion RMB for the firmware industry, highlighting significant opportunities for expansion [5][46] - The newly launched low-code IDE platform, SnapDevelop, is expected to enhance development efficiency by 2-3 times compared to traditional methods, positioning the company favorably against international competitors [22][30] Company Overview - Zhuoyi Information was established in 2008 and focuses on the "independent, secure, and controllable" cloud computing industry chain, primarily providing integrated development tools (IDE) and firmware development for computing devices [9][11] - The company has a strong foothold in the cloud computing firmware market, being one of the few firms capable of developing BIOS technologies across multiple architectures, including X86, ARM, and MIPS [11][49] Financial Analysis - The company reported total revenue of 320 million RMB in 2023, a year-on-year increase of 13.5%, with a compound annual growth rate of approximately 8.48% from 2019 to 2023 [13][14] - The projected earnings per share (EPS) for 2024-2026 are 0.38, 0.53, and 0.66 RMB, respectively, with corresponding price-to-earnings (P/E) ratios of 112.09, 81.82, and 65.23 [6] IDE Business - The company has acquired Aipuyang Technology to enhance its application development capabilities, focusing on integrated development tools (IDE) [20] - SnapDevelop, the company's self-developed low-code IDE platform, is designed to facilitate rapid cloud-native application development and is expected to fill a gap in the domestic market for such tools [22][30] Firmware Industry - The firmware business is characterized by high barriers to entry, with a market size of approximately 6.5 billion RMB, driven by the increasing demand for BIOS and BMC firmware in PCs, servers, and IoT devices [5][46] - The company is the only major authorized supplier of Intel's X86 architecture BIOS in mainland China, which provides a competitive edge in the domestic market [49]

证券代码：688258 证券简称：卓易信息 公告编号：2025-007 江苏卓易信息科技股份有限公司 关于 2022 年限制性股票激励计划 第二个归属期归属结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司有关业务规则的规定，江苏卓易信息科技股份有限公司（以下 简称"公司"）于近日收到中国证券登记结算有限责任公司上海分公司出具的《过 户登记确认书》，公司完成了 2022 年限制性股票激励计划第二个归属期的股份 登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 （一）2022 年 8 月 24 日，公司召开第三届董事会第二十一次会议，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》以及《关 于提请公司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 ...

Company and Industry Summary Company Overview - The company operates primarily in two business segments: cloud services and firmware for computing devices. The cloud services are based in Wuxi, Jiangsu, where the company has developed its own cloud center. The firmware business includes BIOS and BMC firmware, which are critical for the operation of devices like desktops, laptops, and servers [1][2]. Key Points and Arguments Firmware Business - The revenue from firmware is mainly derived from BIOS firmware, which is essential for device stability and security. The company has a unique position in the domestic market, as it is one of the few providers of this technology [1][2]. - The global market for CPUs is predominantly based on the x86 architecture, which has over 90% market share, although ARM architecture is gaining traction [2][3]. - The company has developed technical capabilities to adapt to various architectures, including ARM, which positions it well in the domestic innovation sector [3]. IDE Business - In June 2023 and September 2024, the company acquired Shenzhen Aipiao, leading to the establishment of a new IDE business. The IDE tool is designed to create a development environment for software engineers, similar to office tools for document creation [4][5]. - The IDE tool, named "Nijibeile," is currently in a free trial phase, allowing the company to gather feedback and improve the product [5][6]. - The sales model for the IDE tool is based on direct online subscriptions, similar to international software companies, providing a unique advantage in global markets [6]. Market Position and Competition - The company competes with four major firms authorized by Intel for firmware, including AMI and Phoenix, with AMI being the largest globally. The company is the newest entrant among these competitors [8][9]. - Despite being a latecomer, the company has made significant technological advancements and is now competitive with major international firms in terms of product quality and service [10][11]. - The current market share for the company in the firmware sector is less than 5%, indicating substantial growth potential [10][11]. Future Outlook - The company anticipates growth in both the firmware and IDE segments, with expectations for increased demand for domestic software tools as the market shifts towards localized solutions [12][16]. - The IDE tool is expected to evolve with additional features and support for various platforms, catering to both professional and casual users [12][13]. - The company is optimistic about its collaboration with Intel, which is expected to continue and potentially expand based on Intel's market performance in China [14]. AI and Market Dynamics - The company recognizes the growing importance of AI servers, which require specialized firmware. The complexity of these servers may increase development costs, but a surge in demand could lead to higher revenues [15]. - The overall market activity is expected to positively impact the company's revenue streams, particularly if AI server demand increases significantly [15]. Additional Important Insights - The company has established stable partnerships with major equipment manufacturers like Lenovo and Inspur, which further validates its technological capabilities [10]. - The firm is focused on continuous improvement and innovation in its product offerings, with plans for new versions of its IDE tool and potential monetization strategies in the future [16].

GRANDWAY 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编： 100005 北京国枫律师事务所 关于江苏卓易信息科技股份有限公司 2020 年限制性股票激励计划作废部分限制性股票的 法律意见书 国枫律证字[2020]AN288-6号 电话（Tel）: 010-88004488/66090088 传真（Fax）: 010-66090016 北京国枫律师事务所 关于江苏卓易信息科技股份有限公司 2020 年限制性股票激励计划作废部分限制性股票的 法律意见书 国枫律证字[2020]AN288-6号 致: 江苏卓易信息科技股份有限公司 根据本所与卓易信息签署的《律师服务协议书》,本所接受卓易信息的委托,担 任卓易信息本次股权激励计划的特聘专项法律顾问,根据《公司法》《证券法》《管 理办法》《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执 业规则(试行)》等有关法律、法规、规章及规范性文件的规定,就卓易信息本次股 权激励计划作废部分限制性股票的相关事宜出具本法律意见书。 对本法律意见书的出具,本所律师特作如下声明: ...

（一）审议通过《关于作废处理 2020 年限制性股票激励计划部分限制性股 票的议案》 证券代码：688258 证券简称：卓易信息 公告编号：2025-006 江苏卓易信息科技股份有限公司 第四届监事会第十九次会议决议公告 本公司监事会及全体监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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 江苏卓易信息科技股份有限公司（以下简称"公司"）第四届监事会第十九 次会议（以下简称"本次会议"）于 2025 年 1 月 17 日以现场方式在公司会议室 召开，本次会议通知及相关材料于 2025 年 1 月 10 日以书面形式送达公司全体监 事。本次会议由监事会主席杜娟女士主持，会议应到监事 3 名，实到 3 名，会议 的召集和召开程序符合《中华人民共和国公司法》及《江苏卓易信息科技股份有 限公司章程》的规定，表决所形成的决议合法、有效。 二、监事会会议审议情况 经全体监事表决，形成决议如下： 表决结果：同意 3 票，反对 0 票，弃权 0 票。 经核查，监事会认为：公司本次作废部分限制性股票符合有关法律、法规及 公司《2020 年 ...

1、2020 年 10 月 12 日，公司召开第三届董事会第十一次会议，会议审议通 过了《关于公司<2020 年限制性股票激励计划（草案）>及其摘要的议案》、《关 于公司<2020 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公司 2020 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，公司召开第三届监事会第八次会议，审议通过了《关于公司<2020 年 限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2020 年限制性股 票激励计划实施考核管理办法>的议案》以及《关于核实公司<2020 年限制性股 票激励计划激励对象名单>的议案》，公司监事会对本激励计划的相关事项进行核 实并出具了相关核查意见。 证券代码：688258 证券简称：卓易信息 公告编号：2025-004 江苏卓易信息科技股份有限公司 关于作废部分已授予尚未归属的限制性股票的公告 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、准确性和完整性依法承担法律责任。 江苏卓易信息科技股份有限公司（以 ...