Core Viewpoint - CloudWalk Technology has completed a board restructuring and senior management appointments, marking a new phase in its governance structure [1][4]. Group 1: Board Restructuring - The new board consists of non-independent directors Zhou Xi, Yang Hua, Li Jiwei, Li Xiaofeng, You Yu, and Liu Jun, along with independent directors Xu Xin, Gao Hui, and Zhao Peilin, all serving a three-year term [4]. - Zhou Xi has been elected as the chairman during the first meeting of the new board, which also established various specialized committees to enhance internal governance and decision-making mechanisms [4]. Group 2: Senior Management Appointments - Zhou Xi has been appointed as the general manager, with Yang Hua and Li Jiwei as deputy general managers; Yang Hua will also serve as the board secretary, and Gao Wei has been appointed as the CFO, all for a three-year term [5]. - The company’s nomination committee has reviewed the qualifications of the new senior management, confirming compliance with relevant laws and regulations [5]. Group 3: Business Focus and Financial Performance - CloudWalk Technology specializes in AI visual and cognitive solutions, focusing on smart finance and smart city applications, and aims to leverage advancements in AI models and computing infrastructure [5]. - For the first three quarters of 2025, the company reported revenue of 355 million yuan and a net loss of 310 million yuan, indicating ongoing financial challenges [6]. - Industry experts highlight the significant funding needs for AI companies in product development, computing power investment, and ecosystem building, emphasizing the importance of core technology competitiveness and cost control for future performance [6].

证券代码：688327 证券简称：云从科技 公告编号：2025-058 云从科技集团股份有限公司 关于完成董事会换届选举及聘任高级管理人员的公告 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、准确性和完整性承担法律责任。 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上海证券交易 所科创板股票上市规则》（以下简称"《上市规则》"）、《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》等法律、法规、规范性文件及《云 从科技集团股份有限公司章程》等有关规定，云从科技集团股份有限公司（以下 简称"公司"）于 2025 年 11 月 28 日召开 2025 年第三次临时股东大会，选举产生 第三届董事会成员。次日，公司召开第三届董事会第一次会议，选举产生董事长、 各专门委员会委员及主任委员（召集人），并聘任高级管理人员。现将相关情况 公告如下： 一、董事会换届选举情况 公司第三届董事会审计委员会、提名委员会、薪酬与考核委员会中独立董事 均过半数，并由独立董事担任召集人。审计委员会委员均由不在公司担任高级管 理人员的董事担任，且审计委员会 ...

Core Viewpoint - Cloudwalk Technology Group Co., Ltd. is set to hold a Q3 2025 earnings presentation on December 8, 2025, to discuss its operational results and financial status with investors [2][3][5]. Group 1: Earnings Presentation Details - The earnings presentation will take place on December 8, 2025, from 16:00 to 17:00 [5][6]. - The event will be conducted in an interactive online format via the Shanghai Stock Exchange Roadshow Center [3][5]. - Investors can submit questions from December 1 to December 7, 2025, through the Roadshow Center or via email and phone [2][7]. Group 2: Company Governance - The board of directors guarantees the accuracy and completeness of the announcement regarding the earnings presentation [1][10]. - The company has previously held a temporary shareholders' meeting on November 28, 2025, with all resolutions passed without any objections [10][11]. - The meeting was conducted in compliance with relevant laws and regulations, ensuring proper governance [11][15].

证券代码：688327 证券简称：云从科技 公告编号：2025-057 云从科技集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 12 月 1 日（星期一）至 12 月 7 日（星期日）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （ir@cloudwalk.com）和电话（021-60969707）向公司提问，公司将在说明会上 对投资者普遍关注的问题进行回答。 一、说明会类型 本次业绩说明会以网络互动的形式召开，公司将针对 2025 年第三季度的经 营成果和财务状况与投资者进行互动交流和沟通，在信息披露允许的范围内就投 资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 12 月 8 日（星期一）16:00-17:00 1 会议召开时间：2025 年 12 ...

证券代码：688327 证券简称：云从科技 公告编号：2025-056 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 11 月 28 日 （二） 股东大会召开的地点：上海市浦东新区川和路 55 弄张江人工智能岛 11 号楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： 云从科技集团股份有限公司 2025年第三次临时股东大会决议公告 | 1、出席会议的股东和代理人人数 | 250 | | --- | --- | | 普通股股东人数 | 249 | | 特别表决权股东人数 | 1 | | 2、出席会议的股东所持有的表决权数量 | 1,246,562,524 | | 普通股股东所持有表决权数量 | 15,917,644 | | 特别表决权股东所持有表决权数量（每份特别表决权股份的 | 1,230,644,880 | | 表决权数量为：6） | | | 3、出席 ...

法律意见书 国枫律股字[2025]A0577号 致：云从科技集团股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第三次临时股东大会（以下简称"本次会议"）。 本所律师根据《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》"）、《上市公司股东会规则》（以下简称 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律 业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法 律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《云从科技集团股份 有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召开程序、召 集人资格、出席会议人员资格、会议表决程序及表决结果等事宜，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： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案内容及该等议 案所表述的事实或数据的真实性、准确性 ...

Core Viewpoint - CloudWalk Technology (云从科技) holds a 32.21% stake in Zhongsu Xinke (众数信科) through its wholly-owned subsidiary, Guangzhou CloudWalk, and there is no substantial competition between the two companies as they have clear strategic synergies and ecological complementarity [1] Group 1 - CloudWalk Technology's core business focuses on providing efficient human-machine collaborative operating systems and industry solutions, particularly in smart finance and smart governance [1] - The CWOS serves as a foundational technology platform with comprehensive perception, cognition, and decision-making capabilities, offering AI support and an efficient development environment through platformization, standardization, and modularization [1] - Zhongsu Xinke is positioned as a provider of enterprise AI intelligent agent solutions, utilizing CloudWalk's platform technology to deliver customized AI products and solutions for specific vertical industries such as maritime, smart water management, and education [1] Group 2 - The collaboration between CloudWalk Technology and Zhongsu Xinke follows a "platform + application" model, effectively extending the core technology and facilitating commercialization, with significant differentiation in their business areas that does not constitute substantial competition [1]

Investment Rating - The overall industry rating is positive, expecting returns to exceed the CSI 300 index by more than 5% in the next six months [33] Core Insights - The computer industry index fell by 3.03% during the week of November 10-16, 2025, ranking 29th among 31 first-level industries, but has risen 18.24% year-to-date, outperforming the CSI 300 index by 0.62 percentage points [3][27] - OpenAI launched the GPT-5.1 series flagship model, focusing on enhancing user experience and conversation engagement, with two models: GPT-5.1 Instant for daily interactions and GPT-5.1 Thinking for advanced reasoning [4][11] - Alibaba and Tencent are actively developing AI intelligent agents, with Alibaba's "Qianwen" project aiming to compete directly with ChatGPT, and Tencent planning to introduce an AI agent within WeChat to assist users [15][17] - Kimi K2 Thinking, a new generation of open-source thinking agent, has achieved significant advancements in reasoning and tool usage capabilities, outperforming other models in various benchmarks [20][23] Summary by Sections Industry Key Events Review - OpenAI released GPT-5.1, optimizing user experience with enhanced models for different interaction types [11] - Alibaba initiated the "Qianwen" project to create a personal AI assistant, leveraging its leading position in the open-source model market [15] - Tencent is exploring AI capabilities within WeChat, aiming to enhance user task completion through AI [17] Market Review - The computer industry index decreased by 3.03% for the week, but has increased by 18.24% since the beginning of the year, outperforming the CSI 300 index [27] - The top five gainers in the computer industry for the week included Haixia Innovation (+33.1%) and Yingfang Software (+19.3%), while the top five losers included Fangzhi Technology (-19.91%) and Chunzong Technology (-17.43%) [29][31] Investment Recommendations - The report recommends focusing on companies like Kingsoft Office, Feng Assistant, and Yonyou Network, as well as those involved in AI applications and computing power demands, such as Haiguang Information and Lenovo Group [5][31]

Group 1 - The core point of the announcement is the election of the third board of directors for CloudWalk Technology Group Co., Ltd., which will consist of 9 directors, including 3 independent directors [1][2] - The candidates for the non-independent directors include Zhou Xi, Yang Hua, Li Jiwei, Li Xiaofeng, You Yu, and Liu Jun, while the independent director candidates are Xu Xin, Gao Hui, and Zhao Peilin [1][2][3] - The election will be conducted at the company's third extraordinary general meeting of shareholders on November 28, 2025, using a cumulative voting system [2][24] Group 2 - All nominated candidates meet the qualifications required by relevant laws and regulations, and none have been subject to administrative penalties or disciplinary actions by the China Securities Regulatory Commission [3][4][6][7][8][9][10][11][13][14][15] - The current board of directors has been recognized for their diligence and contributions to the company's development during their tenure [3][17] - The independent director candidates have relevant educational backgrounds and work experiences that qualify them for their roles [3][13][14][15]

云从科技集团股份有限公司 董事、高级管理人员薪酬管理制度 第一章 总则 第一条 为进一步完善云从科技集团股份有限公司（以下简称"公司"）治理 结构，加强和规范公司董事、高级管理人员（以下简称"高管"）薪酬的管理， 根据《中华人民共和国公司法》《上市公司治理准则》《上市公司独立董事管理办 法》等有关法律法规、规范性文件和《云从科技集团股份有限公司章程》（以下 简称"《公司章程》"）、《云从科技集团股份有限公司董事会薪酬与考核委员会工 作细则》（以下简称"《工作细则》"）的规定，结合公司实际情况，特制定本制度。 第二条 本制度适用对象具体包括以下人员： 第三章 薪酬管理机构 （一）公司董事会的全体成员，包括独立董事和非独立董事； （二）经公司董事会选举产生的高管，包括总经理、副总经理、董事会秘书、 财务总监。 第二章 薪酬管理原则 第三条 公司董事、高管薪酬管理遵循以下原则： （一）公司长远利益相结合原则：应与公司持续健康发展目标相符，短期与 长期激励相结合，防止短期行为，促进公司可持续发展； （二）权责利对等原则：按工作岗位、工作成绩、贡献大小及权责相结合等 因素确定基本工资薪酬标准； （三）绩效挂钩原则：年度 ...