Group 1 - The core viewpoint of the announcement is that Zhuoyi Information reported a revenue of 85.22 million yuan for the first quarter of 2025, representing a year-on-year growth of 20.98% [1] - The net profit for the same period was 18.80 million yuan, showing a year-on-year increase of 11.08% [1]

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [2][19]. Core Insights - The company reported a total revenue of 323 million yuan in 2024, a year-on-year increase of 0.99%, while the net profit attributable to shareholders decreased by 41.52% to 33 million yuan due to a high base effect from 2023's equity transfer investment income [2][8]. - The company's core business profitability has significantly improved, with a gross margin increase to 52.20%, up 6.04 percentage points year-on-year [8]. - The acquisition of the remaining 48% stake in Aipuyang has been completed, positioning it as a wholly-owned subsidiary and enhancing the company's low-code IDE business, which is expected to drive future growth [8]. - The company has developed an AI-driven three-layer architecture to enhance its product offerings, integrating AI capabilities into its IDE, cloud services, and operation platforms, which is anticipated to improve development efficiency significantly [8]. Financial Summary - For 2024, the company achieved a total revenue of 323 million yuan, with projected revenues of 402 million yuan in 2025, 494 million yuan in 2026, and 576 million yuan in 2027, reflecting growth rates of 24.3%, 22.9%, and 16.5% respectively [4][8]. - The net profit attributable to shareholders is expected to rebound to 84 million yuan in 2025, 105 million yuan in 2026, and 120 million yuan in 2027, with growth rates of 156.8%, 24.2%, and 14.5% respectively [4][8]. - The report projects an earnings per share (EPS) of 0.70 yuan in 2025, 0.86 yuan in 2026, and 0.99 yuan in 2027, with corresponding price-to-earnings (P/E) ratios of 63, 51, and 44 [4][8].

证券代码：688258 证券简称：卓易信息 公告编号：2025-015 江苏卓易信息科技股份有限公司 关于参加 2024 年度科创板人工智能及软件行业 集体业绩说明会的公告 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。 重要内容提示： 江苏卓易信息科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 18 日发布公司 2024 年年度报告，为便于广大投资者更全面深 入地了解公司 2024 年年度经营成果、财务状况，公司计划于 2025 年 04 月 29 日（星期二）15:00-17:00 参加 2024 年度科创板人工智能及 软件行业集体业绩说明会，就投资者关心的问题进行交流。 （三）会议召开方式：上证路演中心线上网络文字互动 三、 参加人员 公司参加此次说明会人员包括：董事长兼总经理谢乾先生、副总 经理兼董事会秘书王娟女士、独立董事徐建忠先生、财务总监黄吉丽 女士。（如有特殊情况，参会人员将可能进行调整） 四、 投资者参加方式 （一）投资者可在 2025 年 04 月 29 日（星期二）15:00-17:0 ...

Investment Rating - The report maintains a "Recommended" rating for the company [6]. Core Insights - The company has shown significant growth in its non-GAAP net profit, which increased by 144.46% year-on-year, despite a decline in net profit attributable to shareholders by 41.52% [1][4]. - The acquisition of the remaining 48% stake in Aipuyang Technology has positioned the company as a leader in the domestic AI programming software market, with promising growth potential in its IDE business [2][4]. - The company is actively integrating AI into its firmware business and is expected to benefit from the trend of domestic substitution in the semiconductor industry [4]. Financial Performance - In 2024, the company reported total revenue of 323 million yuan, a year-on-year increase of 0.99%, while the net profit attributable to shareholders was 32.84 million yuan [1]. - The forecast for 2025-2027 indicates a significant recovery in net profit, projected at 86 million yuan in 2025, 119 million yuan in 2026, and 167 million yuan in 2027, with corresponding PE ratios of 60X, 43X, and 31X [5][4]. Business Strategy - The company is focusing on creating a dual layout of "AI + IDE," with its SnapDevelop tool deeply integrated with leading AI models, enhancing its software development capabilities [3][4]. - Strategic collaboration with DCloud, which has over 9 million front-end developer users, is expected to accelerate the promotion of SnapDevelop and expand the company's market reach [2][4].

Investment Rating - The report maintains a "Recommended" rating for the company [6]. Core Insights - The company has shown significant growth in its non-recurring net profit, with a 144.46% increase year-on-year, despite a 41.52% decline in net profit attributable to shareholders [1][4]. - The acquisition of the remaining 48% stake in Aipuyang Technology has positioned the company as a leader in the "AI + IDE" programming software sector, with promising growth potential in its IDE business [2][4]. - The company is actively integrating AI into its firmware business and is expected to benefit from the trend of domestic substitution in the semiconductor industry [4]. Financial Performance - In 2024, the company reported an operating income of 323 million yuan, a year-on-year increase of 0.99%, while the net profit attributable to shareholders was 33 million yuan [1][5]. - The projected net profit for 2025-2027 is expected to be 86 million, 119 million, and 167 million yuan, respectively, with corresponding PE ratios of 60X, 43X, and 31X [4][5]. - The company’s gross profit margin is projected to improve from 52.20% in 2024 to 57.16% by 2027 [11].

Group 1 - The company reported an operating income of 323.39 million yuan, a year-on-year increase of 0.99% [41] - The net profit attributable to the parent company was 32.84 million yuan, a decrease of 41.52% compared to the previous year, primarily due to a reduction in investment income [41] - The total assets of the company at the end of the reporting period were 1.552 billion yuan, a decrease of 5.34% from the beginning of the period [42] Group 2 - The main business of the company includes providing core firmware development and product sales for CPU and computing device manufacturers, supported by cloud service technology [5][6] - The company offers integrated development tools (IDE) and customized software solutions for government and enterprise clients, as well as small software companies [5][11] - The company’s IDE products include SnapDevelop, a low-code tool for rapid development of cloud-native applications, and PowerBuilder, a visual database development environment [8][9][32] Group 3 - The global cloud computing market reached a scale of 586.4 billion USD in 2023, with a growth rate of 19.4% [38] - The cloud computing market in China was valued at 616.5 billion yuan in 2023, growing by 35.5% compared to 2022 [38] - The company’s cloud service business primarily focuses on government and enterprise clients, providing customized software and system development solutions [11][34] Group 4 - The company is positioned as a key player in the BIOS and BMC firmware market, with a focus on the X86 architecture [28][33] - The demand for AI computing power has surged, with the AI computing power market in China expected to reach 19 billion USD in 2024, growing by 36.32% year-on-year [27] - The company has established a competitive advantage in the domestic market for firmware products, particularly in the context of national security and self-sufficiency strategies [33]

Fund Management and Usage - The company has established a fund management system to ensure the proper use and efficiency of raised funds, in compliance with relevant laws and regulations [1][2] - A special account for raised funds has been set up in banks, with a tripartite supervision agreement signed with the underwriter and banks [1] - As of December 31, 2024, the company has opened special settlement accounts for financial products in designated banks [3] Fund Usage and Projects - The company approved the completion of the "Domestic BIOS Firmware and BMC Firmware Product Series Development Project" and decided to permanently supplement working capital with the remaining funds [2] - There were no instances of advance investment or replacement of funds for investment projects during the reporting period [5] - The company has not used idle funds to temporarily supplement working capital during the reporting period [7] Cash Management of Idle Funds - The company approved the use of up to RMB 180 million of temporarily idle raised funds for cash management, investing in safe and liquid financial products [7][8] - As of December 31, 2024, the company has engaged in cash management for idle funds, with specific investment details provided [9] Changes in Fund Projects - The company has not changed any investment projects during the reporting period, but it did change the project from "Data-based Government and Enterprise Cloud Service Product Series Construction Project" to "Zhuoling Digital Twin Cloud Platform Construction Project" [13] Financial Reports and Audits - The company has disclosed its fund usage in a timely and accurate manner, with no violations in fund management [14] - The accounting firm Tianheng issued a report confirming that the company's fund management complies with regulatory requirements [15] - The underwriter, CITIC Jianan Securities, also confirmed that the fund storage and usage are in accordance with regulations [15] Profit Distribution and Dividends - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, with a total expected distribution of RMB 11.9 million [20] - The profit distribution plan and the 2025 mid-term dividend plan have been approved by the board and will be submitted for shareholder approval [22][23]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's growth prospects are promising, driven by both firmware and IDE businesses, leading to a maintained "Buy" rating [4] - The company reported a revenue of 3.23 billion yuan in 2024, a year-on-year increase of 0.99%, while the net profit attributable to the parent company was 328.41 million yuan, a year-on-year decrease of 41.52% [5] - The company plans to raise up to 300 million yuan through a simplified procedure for financing related to its main business projects [5] Financial Performance - The company expects net profits attributable to the parent company for 2025-2027 to be 88 million, 114 million, and 144 million yuan respectively, with corresponding EPS of 0.73, 0.94, and 1.19 yuan [4] - The current price-to-earnings (P/E) ratios are projected to be 58.4, 45.3, and 35.8 for 2025, 2026, and 2027 respectively [4] - The company's revenue from the core firmware business was 1.21 billion yuan in 2024, a year-on-year decrease of 15.87%, while the PB business revenue grew by 105.94% to 985.58 million yuan [6] Market Potential - The AI + IDE market has significant potential, with the SnapDevelop IDE expected to attract over 300,000 paying users based on market estimates [7] - The collaboration with DCloud is anticipated to enhance the company's growth trajectory in the AI + IDE sector [7] Financial Summary and Valuation Metrics - The company's projected revenues for 2025-2027 are 4.18 billion, 5.42 billion, and 7 billion yuan, with year-on-year growth rates of 29.4%, 29.2%, and 25.0% respectively [8] - The gross margin is expected to stabilize around 50% by 2027, with net profit margins projected at 21.1% for 2025 and 20.6% for 2027 [8][10]

Group 1 - The core viewpoint of the news is that Zhuoyi Information (688258.SH) has disclosed its annual report for 2024, highlighting the institutional ownership and changes in shareholding among public funds and social security funds [1][2] Group 2 - As of April 17, 2025, a total of 44 institutional investors hold shares in Zhuoyi Information, with a combined holding of 16.5388 million shares, representing 13.65% of the total share capital [1] - The top ten institutional investors account for 12.97% of the total shares, with a decrease of 2.49 percentage points compared to the previous quarter [1] - In the public fund sector, one fund, Huaxia Industry Prosperity Mixed Fund, reduced its holdings by 1.27% compared to the previous quarter, while 36 new public funds were disclosed [2] - One social security fund, Huaxia Fund Management Co., Ltd. - Social Security Fund 422 Combination, increased its holdings slightly in the current period [2]

江苏卓易信息科技股份有限公司（以下简称"卓易信息"）近日发布2024年年度报告，报告期内公司实现 营业收入323,392,632.95元，同比增长0.99%；归属于上市公司股东的净利润为32,841,483.65元，同比下 降41.52%。本文将基于年报数据，对卓易信息的财务状况、经营成果及潜在风险进行深入解读。 财务关键指标解读 营收微增，净利润大幅下滑营业收入：2024年公司营业收入为323,392,632.95元，较上年同期的 320,223,831.27元增长0.99%，增长幅度较为有限。从业务板块来看，PB业务的增长成为营收增长的主 要动力。然而，云计算设备核心固件业务和云服务业务收入均有所下降，其中云计算设备核心固件业务 收入120,678,039.84元，同比下降15.87%；云服务业务收入92,664,030.06元，同比下降16.07%。净利 润：归属于上市公司股东的净利润为32,841,483.65元，同比下降41.52%。主要原因是2023年公司转让子 公司卓易文化10.83%的股权，确认股权转让投资收益41,277,900元，而本期无相关事项，使得2024年投 资收益相比2023年大幅 ...