江苏卓易信息科技股份有限公司监事会 关于公司 2025 年限制性股票激励计划（草案）的核查意见 江苏卓易信息科技股份有限公司（以下简称"公司"）监事会依据《中华人民 共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下 简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、 《上海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）、《科创 板上市公司自律监管指南第 4 号——股权激励信息披露》等相关法律法规、规章 及规范性文件和《江苏卓易信息科技股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，对公司《2025 年限制性股票激励计划（草案）》（以下简 称"《激励计划（草案）》"）进行了核查，发表核查意见如下： 1、公司不存在《管理办法》等法律法规、规章及规范性文件规定的禁止实 施股权激励计划的情形，包括： （1）最近一个会计年度财务会计报告被注册会计师出具否定意见或者无法 表示意见的审计报告； （2）最近一个会计年度财务报告内部控制被注册会计师出具否定意见或无 法表示意见的审计报告； （3）上市后最近 36 个月内出现过未按法律法规、公司章程、公 ...

证券代码：688258 证券简称：卓易信息 公告编号：2025-018 二、监事会会议审议情况 1、审议通过《关于<江苏卓易信息科技股份有限公司 2025 年限制性股票激 励计划（草案）>及其摘要的议案》 江苏卓易信息科技股份有限公司 第四届监事会第二十二次会议决议公告 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"）第四届监事会第二十 二次会议（以下简称"本次会议"）于 2025 年 5 月 8 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已于 2025 年 5 月 1 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》（以下简称"《公司法》"）及 《江苏卓易信息科技股份有限公司章程》（以下简称"《公司章程》"）的规定，表 决所形成的决议合法、有效。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会认为：公司《2025 年限制性 ...

证券代码：688258 证券简称：卓易信息 公告编号：2025-019 江苏卓易信息科技股份有限公司 第四届董事会第二十六次会议决议公告 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。 一、董事会会议召开情况 本议案尚需提交公司 2025 年第一次临时股东大会审议。 （二）审议通过《关于<江苏卓易信息科技股份有限公司 2025 年限制性股票激 励计划实施考核管理办法>的议案》 为了保证公司 2025 年限制性股票激励计划的顺利实施，确保公司发展战略和经 营目标的实现，根据《上市公司股权激励管理办法》《上海证券交易所科创板股票 上市规则》《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等相关 法律、法规的规定和公司实际情况，公司制定了《江苏卓易信息科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法》。 江苏卓易信息科技股份有限公司（以下简称"公司"）第四届董事会第二十六 次会议（以下简称"本次会议"）于 2025 年 5 月 8 日以现场及通讯相结合方式在公 司会议室召开，本次会议通知及相关材料已于 ...

江苏卓易信息科技股份有限公司 2024 年年度股东大会会议资料 证券代码：688258 证券简称：卓易信息 为了维护全体股东的合法权益，确保股东大会会议秩序和议事效率，保证股 东大会的顺利召开，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司股东会规则》以及《江苏卓易信息科技股份有限公司章程》、《江苏卓 易信息科技股份有限公司股东大会议事规则》等相关规定，特制定江苏卓易信息 科技股份有限公司（以下简称"公司"）2024 年年度股东大会会议须知： 一、 为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工 作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、 为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，务 必请出席大会的股东或其代理人或其他出席者准时到达会场签到确认参会资格。 会议开始后，会议登记应当终止，由会议主持人宣布现场出席会议的股东和代理 人人数及所持有效表决权的股份总数。 江苏卓易信息科技股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 江苏卓易信息科技股份有限公司 2024 年年度股东大会会议资料 2024 年年度股东 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant growth in its non-recurring profit, with a projected net profit of 0.88 billion, 1.14 billion, and 1.44 billion for 2025-2027, respectively. The expected EPS for the same period is 0.73, 0.94, and 1.19 yuan, indicating a promising growth outlook driven by both firmware and IDE businesses [4][5] Financial Performance - In Q1 2025, the company achieved an operating revenue of 85.216 million yuan, a year-on-year increase of 20.98%. The net profit attributable to the parent company was 18.799 million yuan, up 11.08% year-on-year, while the non-recurring net profit surged by 581.73% to 16.952 million yuan [5] - The gross margin for Q1 2025 was 61.53%, an increase of 17.94 percentage points year-on-year, primarily due to the growth in high-margin IDE business revenue [6] - The company reported a net cash flow from operating activities of 18.6716 million yuan, reflecting a year-on-year growth of 20.77% [6] Market Potential - The company has launched a new low-code IDE product, SnapDevelop, and an AI+IDE platform, EazyDevelop, focusing on AI programming and multi-agent collaboration. This positions the company well in the enterprise-level application development market [7] - The collaboration with DCloud is expected to enhance customer resources and accelerate the commercialization process of SnapDevelop, indicating a strong potential for growth in the AI programming software market [7] Financial Summary and Valuation Metrics - The projected financial metrics for the company are as follows: - Revenue (million yuan): 320 in 2023, 323 in 2024, 418 in 2025, 542 in 2026, and 700 in 2027, with a year-on-year growth rate of 29.4% in 2025 [8] - Net profit (million yuan): 56 in 2023, 33 in 2024, 88 in 2025, 114 in 2026, and 144 in 2027, with a significant year-on-year increase of 169.2% in 2025 [8] - EPS (yuan): 0.46 in 2023, 0.27 in 2024, 0.73 in 2025, 0.94 in 2026, and 1.19 in 2027 [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to experience significant growth in its non-recurring profit, driven by its firmware and IDE business, with a projected net profit of 0.88 billion, 1.14 billion, and 1.44 billion for 2025-2027 [4][5] - The current price-to-earnings (PE) ratios are 63.3, 49.0, and 38.8 for the years 2025, 2026, and 2027 respectively, indicating a favorable growth outlook [4] Financial Performance - In Q1 2025, the company achieved operating revenue of 85.216 million, a year-on-year increase of 20.98%, and a net profit attributable to the parent company of 18.799 million, up 11.08% year-on-year [5] - The non-recurring net profit saw a substantial increase of 581.73% year-on-year, reaching 16.952 million [5] - The gross margin improved significantly to 61.53%, an increase of 17.94 percentage points year-on-year, primarily due to the growth in high-margin IDE business revenue [6] Market Potential - The company launched a new low-code IDE product, SnapDevelop, and an AI+IDE platform, EazyDevelop, which focus on AI programming and collaboration, indicating a broad potential market space [7] - The collaboration with DCloud is expected to enhance customer resources and accelerate commercialization, further solidifying the company's position in the AI programming software market [7] Financial Summary and Valuation Metrics - Projected operating revenue for 2025 is 418 million, with a year-on-year growth of 29.4% [8] - The projected net profit for 2025 is 88 million, reflecting a significant year-on-year growth of 169.2% [8] - The gross margin is expected to stabilize around 48.8% in 2025, with a net margin of 21.1% [8]

Core Viewpoint - The report highlights the significant growth in non-net profit for Zhuoyi Information, driven by increased revenue and improved gross margin, positioning the company as a leader in the AI programming sector [2][3]. Financial Performance - In Q1 2025, Zhuoyi Information reported revenue of 0.85 billion yuan, a year-on-year increase of 20.98% [2]. - The net profit attributable to shareholders was 0.19 billion yuan, up 11.08% year-on-year, while the non-net profit reached 0.17 billion yuan, reflecting a substantial growth of 581.73% [2]. - The gross margin for Q1 2025 was 61.53%, an increase of approximately 18 percentage points compared to Q1 2024 [2]. Strategic Initiatives - The acquisition of Aipuyang has allowed the company to enter the IDE market, enhancing its profit margins through a SaaS business model [2]. - The SnapDevelop product, characterized by cloud-native and low-code features, is expected to significantly improve development efficiency [2]. - The company is actively exploring the "AI + IDE" integration, with EazyDevelop supporting complex AI task orchestration and execution [2]. Market Positioning - Zhuoyi Information is positioned to benefit from high barriers to entry in the IDE market, with a focus on cloud-native and HarmonyOS development support [2]. - The company plans to adapt to new programming languages such as Java and Python, which could open broader market opportunities [2]. Investment Outlook - The projected net profits for 2025, 2026, and 2027 are 0.86 billion yuan, 1.19 billion yuan, and 1.67 billion yuan, respectively, with corresponding price-to-earnings ratios of 63X, 46X, and 32X [3]. - The company maintains a "buy" rating, supported by collaborations with leading platforms like DCloud to accelerate IDE product promotion [3].

卓易信息（688258.SH）2025 年一季报点评 推荐 维持评级 当前价格： 44.79 元 [Table_Author] 扣非利润大幅增长，AI 编程龙头成长性不断提升 2025 年 04 月 29 日 ➢ 事件概述：2025 年 4 月 28 日公司发布 2025 年一季报，2025 年一季度公 司营收 0.85 亿元，同比增长 20.98%。2025 年一季度归母净利润 0.19 亿元，同 比增长 11.08%；扣非归母净利润 0.17 亿元，同比增长 581.73%。 ➢ 扣非归母净利润高速增长，毛利率大幅提升。扣非归母净利润增长原因：公 司营业收入及毛利润增加，带动公司扣非归母净利润快速增长。毛利率方面，公 司 2025Q1 毛利率达到 61.53%，较 2024Q1 增长约 18 个百分点。公司 2024 年完成对艾普阳的收购，艾普阳商业模式是 SaaS 模式，利润率较高，因此并表 后对公司毛利率提升有帮助。同时公司其他业务也在持续健康发展，共同推动公 司收入以及利润提升。 ➢ 国产 IDE 具有较高壁垒，顺应 AI 大趋势有望不断提升成长性。1）技术壁 垒：开发 IDE 软件是一项极具挑战性 ...

Core Insights - The company reported a total revenue of 323 million yuan in 2024, reflecting a year-on-year increase of 0.99%, while the net profit attributable to shareholders decreased by 41.52% to 33 million yuan [1][2] - The significant growth driver for revenue was the PB business, which saw a remarkable increase of 105.94% [2] - The company completed the acquisition of the remaining 48% stake in Aipuyang, making it a wholly-owned subsidiary, which is expected to create a second growth curve through its low-code IDE business [3] Financial Performance - Total revenue for 2024 was 323 million yuan, with a slight increase of 0.99% year-on-year [1] - Net profit attributable to shareholders was 33 million yuan, down 41.52% year-on-year, primarily due to a high base effect from investment income in 2023 [2] - The company achieved a non-GAAP net profit of 15 million yuan, representing a significant increase of 144.46% year-on-year [2] - The overall gross margin improved to 52.20%, an increase of 6.04 percentage points year-on-year [2] Business Segments - Revenue from the core firmware business in cloud computing was 120.68 million yuan, down 15.87% year-on-year [2] - Revenue from cloud services was 92.66 million yuan, down 16.07% year-on-year [2] - The PB business generated revenue of 98.56 million yuan, marking a year-on-year increase of 105.94% [2] Strategic Initiatives - The company launched the first GA version of its low-code IDE tool, SnapDevelop, in June 2024, which supports .NET cloud-native application development [3] - SnapDevelop is designed to enhance development efficiency, allowing for rapid iteration and high concurrency [3] - The company has established a customer base of over 3,000, primarily in North America, Europe, and Asia, indicating strong market penetration [3] AI Integration - The company has developed an AI-driven three-layer architecture to enhance its product offerings, integrating AI capabilities into IDEs, cloud services, and operation platforms [4] - The SnapDevelop tool includes an AI programming assistant that automates code completion and error detection, significantly improving development efficiency [4] - The company has created over 300 industry-specific templates to facilitate rapid application in sectors such as government, finance, and industry [4] Future Outlook - The strategic acquisition of Aipuyang is expected to enhance the company's IDE portfolio and drive significant business growth through the integration of AI and low-code technologies [4] - Revenue projections for 2025-2027 are estimated at 402 million, 494 million, and 576 million yuan, respectively, with net profits of 84 million, 105 million, and 120 million yuan [4] - The company is assigned a target price of approximately 52 yuan based on a 75x PE ratio for 2025, maintaining a strong buy recommendation [4]

Group 1: ZTE Information - ZTE Information has approximately 7,000 active users for SnapDevelop and plans to release a paid commercial version in the future [1] - EazyDevelop, which focuses on rapid development using AI technology, will support MCP calls and is set to launch a free trial version [1] - Baidao Software has made breakthroughs in RISC-V firmware and is collaborating with major companies like Huawei and Lenovo [1] Group 2: Boji Pharmaceutical - Boji Pharmaceutical's new orders for 2024 are projected to be 1.515 billion yuan, a year-on-year increase of 30.07% [2] - The company aims for a revenue target of 682 million yuan for 2025, with a focus on clinical business and technology transfer services [2] - The company is exploring AI applications in clinical trial processes and has seen a 20% growth in traditional Chinese medicine CRO orders [2] Group 3: Kehua Data - Kehua Data's revenue for 2024 is expected to be 7.757 billion yuan, a decrease of 4.71% year-on-year, with a net profit of 315 million yuan [3] - The intelligent computing center business has seen a revenue increase of 14.07%, while the new energy business revenue has decreased by 15.98% [3] - The company plans to enhance its intelligent computing center business and has completed a convertible bond project for future funding [3] Group 4: Tongyu Communication - Tongyu Communication's growth in the first quarter is attributed to increased overseas revenue and contributions from satellite communication [4] - The company is focusing on R&D in satellite communication and 5G integrated antennas, achieving significant results [4] - Future plans include targeting high-end markets and leveraging overseas advantages to assist domestic satellite manufacturers [4]