全体董事对本次董事会会议议案进行了审议，经表决形成如下决议： （一）审议通过《关于向激励对象首次授予限制性股票的议案》 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》、 公司《2025 年限制性股票激励计划（草案）》的有关规定，经公司 2025 年第一 次临时股东大会的授权，董事会认为公司 2025 年限制性股票激励计划规定的授 予条件已经成就，同意确定 2025 年 9 月 1 日为首次授予日，以授予价格 22.06 元/股向符合条件的 278 名激励对象授予 264.00 万股限制性股票。 证券代码：688369 证券简称：致远互联 公告编号：2025-045 北京致远互联软件股份有限公司 关于第三届董事会第二十次会议决议公告 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。 一、董事会会议召开情况 北京致远互联软件股份有限公司（以下简称"公司"）第三届董事会第二 十次会议通知于 2025 年 8 月 27 日以电子邮件方式送达各位董事，会议于 2025 年 9 月 1 日通过现场结合通讯方式召开，本 ...

Core Insights - The recent 2025 HarmonyOS Ecological Conference in Shenzhen saw major OA vendors announce full adaptation of their core office products to HarmonyOS 5, marking a significant step towards the digital transformation of Chinese enterprises [1][6] - A joint initiative called the "Harmony Ecosystem Service Provider Application Innovation Plan" was launched by 17 service providers to create efficient and intelligent industry solutions [3] - The Harmony ecosystem is rapidly developing, with over 40 Huawei terminal products supporting HarmonyOS 5 and more than 300 service providers contributing to over 10,000 applications and services [5] Group 1: Company Innovations - Panwei has completed Harmony adaptation for six OA products, integrating over ten Harmony SDKs and serving over 7,000 government and enterprise clients [6] - Lanling has restructured its private mobile platform "Lanling KK" for Harmony, enabling service flow across multiple devices and introducing features like attendance reminders based on location [6] - Zhiyuan Huitong launched the Harmony version of its mobile office M3, featuring voice interaction and enhanced security measures like facial recognition [6] Group 2: Industry Impact - Inspur Digital Enterprise has provided Harmony mobile office services to nearly 1,000 enterprises, focusing on security and process optimization in large state-owned enterprises [7] - Hengtai High-Tech's BeeWorks platform serves thousands of large organizations, leveraging Harmony's multi-device deployment capabilities to enhance collaboration [7] - The integration of mainstream office applications into the Harmony ecosystem is expected to provide government and enterprise users with a safer, more efficient digital office experience [8]

Summary of the Conference Call for Zhiyuan Huilian Company Overview - **Company**: Zhiyuan Huilian - **Industry**: Digital Transformation and AI Solutions Key Points and Arguments Industry and Market Position - **Focus on Quality Clients**: The company emphasizes deepening relationships with high-quality clients and core partners through a new quality plan aimed at state-owned enterprises and industry clients, enhancing customer value management and partner specialization capabilities [2][3] - **Growth Engines**: The transformation in information technology (IT) and intelligent government enterprises are identified as key growth engines, contributing to revenue increases and accumulating high-value customer cases [2][4] Financial Performance - **AI Contracts**: In the first half of 2025, AI-related contract amounts reached between 46 million to 47 million, with a customer penetration rate exceeding 8% [4][19] - **Order Growth**: Orders increased by over 20% in the first half of 2025, primarily from state-owned enterprises, with an average delivery cycle of 6 to 12 months [21] Product and Service Innovations - **AI Empowerment**: The company has launched over 30 ready-to-use intelligent office agents, significantly lowering the barriers for enterprises to undergo digital transformation [6] - **Government Solutions**: The introduction of AI-powered digital government solutions and a new generation of intelligent government products supports the digital upgrade of government agencies [7][8] Strategic Initiatives - **AI Wave Plan**: In the first half of 2025, the company launched the AI Wave Plan to optimize product AI capabilities and collaborative operation mechanisms, enhancing the professional capabilities of partners [9] - **Ecosystem Development**: The company is focused on building a more open and prosperous partner ecosystem through technology empowerment and collaborative operations [9][10] Customer Engagement and Market Trends - **Growing Demand for AI**: There is an increasing urgency for AI products among customers, particularly in knowledge Q&A and scenario-based intelligent agents [22][23] - **Customization vs. Standardization**: The company employs a dual strategy of standardization for core needs while also offering customized solutions for specific roles and scenarios [24] Future Plans - **Second Half of 2025**: The company plans to continue focusing on dual-driven strategies, enhancing customer value management, and expanding the scale of intelligent upgrades in government clients [13][20] - **Profit Margin Improvement**: Measures to enhance gross margins include sales expense management, travel management, and optimizing project delivery management [25][26] Additional Important Content - **Partnerships**: The company has established deep collaborations with major tech firms like Huawei to enhance its AI capabilities and expand market reach [10][11] - **Internal Efficiency**: The use of AI products internally has significantly improved operational efficiency, achieving cost reduction and efficiency goals [15][17] - **AI Product Development**: The company has made significant advancements in AI product development, including the launch of the KOMI family of intelligent products [14][19] This summary encapsulates the essential insights from the conference call, highlighting the company's strategic focus, financial performance, product innovations, and future plans in the context of the digital transformation and AI industry.

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is focusing on a "platform + ecosystem" development strategy and is expected to benefit from the implementation of AI Agent solutions, which are seen as crucial for its growth [3] - The company has shown improvement in revenue growth in Q2, with a year-on-year increase of 5.98% in Q2 revenue, indicating a recovery trend [4] - The company aims to achieve significant progress in AI-related contracts, with a target of reaching 100 million yuan in AI-related contract orders for the year [5] Financial Performance Summary - In H1 2025, the company reported revenue of 338 million yuan, a year-on-year decrease of 15.98%, and a net loss attributable to shareholders of 135 million yuan, an increase in loss of 98.02% year-on-year [4] - The company’s Q2 revenue was 233 million yuan, with a net loss of 68.51 million yuan, reflecting a year-on-year increase in loss of 82.97% [4] - The company’s gross margin decreased by 12.52 percentage points year-on-year, while operating expenses saw a decline [4] - The company’s revenue forecasts for 2025-2027 are 926 million yuan, 1.041 billion yuan, and 1.175 billion yuan respectively, with net profit forecasts of -97 million yuan, -23 million yuan, and 21 million yuan respectively [3][8] Contract and Product Development - The company signed direct sales contracts worth 20.18% more than the previous year, with contracts exceeding one million yuan increasing by 72.70% [5] - The company has launched the new generation of CoMi Agent platform 2.0, which includes various AI Agent products aimed at enhancing its service offerings [6]

Core Viewpoint - The company reported a decline in revenue and an increase in net losses for the first half of 2025, but showed signs of recovery in orders and cash flow in the second quarter [1][2]. Financial Performance - The company achieved revenue of 338 million yuan in 1H25, a year-on-year decrease of 15.98%; net loss attributable to shareholders was 135 million yuan, with a non-recurring net loss of 134 million yuan, indicating an expanded loss compared to the previous year [1]. - In 2Q25, revenue was 233 million yuan, a year-on-year increase of 5.99%; net loss attributable to shareholders was 69 million yuan [1]. - The net cash flow from operating activities was -58 million yuan, showing significant improvement compared to previous periods [1]. Development Trends - There is a recovery trend in contract orders, with contract liabilities in 1H25 increasing by 37% year-on-year; direct sales contract amounts grew by 20.2%, with orders over one million yuan increasing by 72.7% [1]. - AI-related contracts amounted to 46.69 million yuan, with significant growth in contracts from central state-owned enterprises (up 57.8%) and government business (up 139.4%), particularly in government innovation products (up 170.9%) [1]. - The company’s second-quarter revenue and order recovery trends are expected to support annual revenue recovery [1]. Cost Management and Efficiency - The company continues to focus on cost reduction and efficiency improvement, with a notable decrease in operating losses and improved cash flow management [2]. - The gross margin saw a decline due to increased complexity and costs in direct sales projects, but the company managed to reduce sales, R&D, and management expense ratios [2]. - Accounts receivable decreased by 18.3% compared to the end of the previous year, indicating improved cash flow quality [2]. AI Investment and Applications - The company launched a new generation of AI products, CoMi, which integrates mainstream large models and proprietary collaborative operational models, enhancing its capabilities [2]. - The AI-native application, iForm, adopted a public cloud SaaS model, expanding its coverage to various industries [2]. - The company is developing AI applications in digital government and HR, increasing the practical deployment of AI [2]. Profit Forecast and Valuation - Due to short-term pressures on revenue and profit, the company has revised its 2025 revenue forecast down by 24.2% to 890 million yuan, predicting a net loss of 51.51 million yuan [3]. - For 2026, revenue is projected at 950 million yuan, with a net loss of 23.56 million yuan [3]. - The valuation has been adjusted to a 2026 P/S ratio, maintaining an outperform rating and raising the target price by 32% to 33 yuan, indicating a 7% upside potential from the current stock price [3].

Core Viewpoint - Beijing Zhiyuan Huilian Software Co., Ltd. announced the use of idle self-owned funds for cash management, aiming to enhance fund utilization efficiency and increase investment returns for the company and its shareholders [1]. Group 1: Cash Management Details - The company will use up to RMB 405 million (including principal) of idle self-owned funds for cash management [1]. - The purpose of cash management is to improve fund utilization efficiency and increase investment returns while ensuring normal operations and fund safety [1]. - The funds can be used in a rolling manner within the approved limit for a period of 12 months from the date of board approval [1]. - The board has authorized the chairman to make investment decisions and sign relevant documents, with implementation organized by the finance department [1]. - Investment products will include high-security and high-liquidity options such as structured deposits, time deposits, notice deposits, and large certificates of deposit [1]. - The company will fulfill information disclosure obligations as required by relevant laws and regulations [1]. Group 2: Risk Control Measures - The financial market is significantly influenced by macroeconomic factors, making it difficult to accurately predict investment product returns and payouts [2]. - Strict adherence to prudent investment principles will be maintained, along with compliance with relevant laws and the company's articles of association [2]. - A robust approval and execution process will be established, with financial personnel analyzing and tracking investment product conditions to identify risks promptly [2]. - The internal audit department will supervise the daily use of funds and conduct regular checks on investment products [2]. - Independent directors and the supervisory board have the authority to oversee and inspect, with the option to hire professional institutions for auditing if necessary [2]. Group 3: Impact on the Company - The use of idle self-owned funds for cash management will not affect normal operations or daily cash flow, nor will it impact the main business activities [3]. - This initiative is beneficial for improving fund utilization efficiency and increasing fund returns, aligning with the interests of the company and all shareholders [3]. - The cash management matter falls within the board's approval authority and does not require submission to the shareholders' meeting for review, with the supervisory board also agreeing to the cash management initiative [3].

Group 1 - The company, Zhiyuan Huilian (688369.SH), reported a total revenue of 338 million yuan for the first half of 2025, representing a year-on-year decline of 15.98% [1] - The net profit attributable to shareholders of the parent company was -135 million yuan, which is an increase in loss of 67.07 million yuan compared to the same period last year [1] - The basic earnings per share were -1.18 yuan [1]

Core Insights - The company achieved significant breakthroughs in the central state-owned enterprise market, with a year-on-year increase of 57.79% in customer contract amounts and a 72.70% increase in large orders exceeding one million yuan [1] - The company focuses on AI and Xinchuang (信创) as core areas, developing an integrated collaborative operation platform aimed at enhancing digital and intelligent operations for large organizations [1][2] - The company has successfully served major central state-owned enterprises, with AI-enabled scenarios being key drivers for contract signings [1] Financial Performance - The company reported a 37.00% year-on-year increase in contract liabilities, while accounts receivable decreased by 18.09%, indicating a strong order backlog and improved operational resilience [2] - The company aims for sustainable high-quality growth in the central state-owned enterprise market through the continuous deepening of its "New Quality Plan" and the maturation of AI products [2] Strategic Partnerships - The company is deepening collaborations with Huawei, telecom operators, and Xinchuang ecosystem partners to promote the "AI + Xinchuang" solutions in the central state-owned enterprise market [2] - As a global partner of Huawei, the company has launched multiple smart office and group management solutions, enhancing market coverage and service responsiveness [2] Future Outlook - The company plans to continue strengthening its platform capabilities, ecosystem partnerships, and customer success systems to maintain its leading position in the central state-owned enterprise collaborative operation market [2]

Core Insights - The company reported a total revenue of 337.87 million yuan for the first half of 2025, representing a year-on-year decline of 15.98%, although there was a 5.98% increase in revenue in the second quarter compared to the same period last year [1][2] Financial Performance - The company has improved its management of operating cash flow and revenue quality, with contract liabilities increasing by 37.00% compared to the same period last year, while accounts receivable decreased by 18.27% [2] - The direct sales contract amount increased by 20.18% year-on-year, with contracts worth over one million yuan rising by 72.70% and orders for Xinchuang products increasing by 124.28% [2] - The AI-related contract amount reached 46.69 million yuan, indicating significant progress in AI-related business [2] Strategic Initiatives - The company is advancing its "AI + Xinchuang" dual-drive strategy, focusing on platform upgrades and ecosystem co-construction, which has led to a strong business recovery and growth resilience [2] - The core business is experiencing rapid growth, with the government business accelerating its intelligence transformation, showing a contract amount increase of 139.38%, and Xinchuang product contracts growing by 170.90% [2] - Contracts with central and state-owned enterprises increased by 57.79%, and contracts worth over one million yuan also saw a 72.70% increase [2] Product Development - The company launched a new generation of intelligent agent products based on the CoMi platform, supporting multi-model access and providing over 50 out-of-the-box intelligent assistants covering key scenarios such as official documents, meetings, and decision-making [3] - The A9, A8, and A6 product lines target large, medium, and small enterprises respectively, offering differentiated AI collaborative solutions to enhance operational efficiency and intelligence levels [3] Collaboration and Innovation - The company has partnered with Huawei to initiate the "AI Application Innovation Navigation Plan," launching joint solutions for government and urban intelligent agents [3] - Collaborations with China Telecom and China Mobile have expanded coverage to over 200 cities nationwide, facilitating rapid promotion of products and solutions [3]

证券代码：688369 证券简称：致远互联 公告编号：2025-039 北京致远互联软件股份有限公司 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。 北京致远互联软件股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开第三届董事会第十九次会议及第三届监事会第十六次会议，审议通过了 《关于作废部分已授予尚未归属的限制性股票的议案》，现将相关事项公告如下： 一、限制性股票激励计划已履行的决策程序和信息披露情况 （一）2022 年限制性股票激励计划 1、2022 年 4 月 26 日，公司召开第二届董事会第二十五次会议，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》及《关于提请股 东大会授权董事会办理公司 2022 年限制性股票激励计划相关事宜的议案》。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，公司召开第二届监事会第十六次会议，审议通过了《关于公司< ...