Group 1 - The core point of the article is that Suochen Technology (688507.SH) reported its Q3 financial results, showing a revenue increase but a significant net loss [1] Group 2 - For the first three quarters of 2025, the company achieved total operating revenue of 106 million, representing a year-on-year growth of 27.83% [1] - The net profit attributable to shareholders of the parent company was a loss of 75.95 million, which is an increase in loss of 5.30 million compared to the same period last year [1] - The basic earnings per share were reported at -0.86 yuan [1]

Core Insights - The core viewpoint of the article highlights the financial performance of Suochen Technology for the third quarter of 2025, indicating significant revenue growth but also notable net losses [1] Financial Performance - In Q3 2025, Suochen Technology reported revenue of 48.56 million yuan, representing a year-on-year increase of 56.14% [1] - For the first three quarters of 2025, the company achieved revenue of 106 million yuan, which is a year-on-year growth of 27.83% [1] - The net loss for Q3 2025 was 30.25 million yuan, while the net loss for the first three quarters amounted to 75.95 million yuan [1]

证券代码：688507 证券简称：索辰科技 公告编号：2025-062 上海索辰信息科技股份有限公司 关于调整2023年限制性股票激励计划授予价格的公告 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： 限制性股票授予价格由 45.08 元/股调整为 44.65 元/股。 上海索辰信息科技股份有限公司（简称"公司"）于 2025 年 10 月 29 日召 开了第二届董事会第二十一次会议，审议通过了《关于调整 2023 年限制性股票 激励计划授予价格的议案》，同意公司根据《上市公司股权激励管理办法》 （简称《管理办法》）《公司 2023 年限制性股票激励计划（草案）》（简称 "本激励计划"或《激励计划（草案）》）的相关规定，以及公司 2023 年第一 次临时股东大会的授权，将 2023 年限制性股票授予价格由 45.08 元/股调整为 44.65 元/股。现将有关事项说明如下： 一、本次限制性股票已履行的决策程序和信息披露情况 1、2023 年 8 月 24 日，公司召开第二届董事会第二次会议，会议审议通过 了 ...

证券代码：688507 证券简称：索辰科技 公告编号：2025-063 上海索辰信息科技股份有限公司（简称"公司"）于 2025 年 10 月 29 日召 开了第二届董事会第二十一次会议，审议通过了《关于作废 2023 年限制性股票 激励计划部分已授予尚未归属的限制性股票的议案》，同意公司根据《上市公 司股权激励管理办法》（简称《管理办法》）、《公司 2023 年限制性股票激励 计划（草案）》（简称"本激励计划"或《激励计划（草案）》）的相关规定， 以及公司 2023 年第一次临时股东大会的授权，同意作废部分已授予尚未归属的 限制性股票。现将有关事项说明如下： 一、本激励计划已履行的决策程序和信息披露情况 1、2023 年 8 月 24 日，公司召开第二届董事会第二次会议，会议审议通过 了《关于<上海索辰信息科技股份有限公司 2023 年限制性股票激励计划（草 案）>及其摘要的议案》《关于<上海索辰信息科技股份有限公司 2023 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 2023 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 ...

北京市中伦律师事务所 关于上海索辰信息科技股份有限公司 部分已授予尚未归属的限制性股票事项的 法律意见书 二〇二五年十月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 2023 年限制性股票激励计划调整授予价格、作废 北京市中伦律师事务所 关于上海索辰信息科技股份有限公司 2023 年限制性股票激励计划调整授予价格、作废 部分已授予尚未归属的限制性股票事项的 法律意见书 致：上海索辰信息科技股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受上海索辰信息科技股份有 限公司（以下简称"公司"）的 ...

上海索辰信息科技股份有限公司 第二届董事会第二十一次会议决议公告 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 上海索辰信息科技股份有限公司（简称"公司"）第二届董事会第二十一次会 议于 2025 年 10 月 29 日在公司会议室以现场结合通讯方式召开，会议通知已于 2025 年 10 月 17 日以书面方式送达各位董事。会议由公司董事长陈灏先生主持，应 参会董事 7 名，实际参会董事 7 名。会议的召集、召开和表决情况符合《中华人民 共和国公司法》等有关法律、法规及《上海索辰信息科技股份有限公司章程》（简 称《公司章程》）的规定，形成的决议合法、有效。 二、董事会会议审议情况 经与会董事投票表决，本次会议审议并通过了以下议案： （一）审议通过了《关于<公司 2025 年第三季度报告>的议案》 经审议，公司 2025 年第三季度报告的编制符合相关法律法规、上交所业务 规则及《公司章程》的有关规定，报告真实、准确、完整地反映了公司的财务 状况和经营情况，不存在虚假记载、误导性陈述或重大遗漏。 证券 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥48,559,745.53, representing a year-over-year increase of 56.14%[3] - The total profit for the period was -¥35,444,445.15, with a year-to-date total profit of -¥97,837,938.64, indicating significant losses[3] - The net profit attributable to shareholders was -¥30,252,825.48 for the quarter, and -¥75,951,125.92 year-to-date[3] - Total revenue for the first three quarters of 2025 reached CNY 105,910,621.06, an increase from CNY 82,851,753.56 in the same period of 2024, representing a growth of approximately 27.8%[20] - Net profit for the first three quarters of 2025 was a loss of CNY 78,109,043.28, compared to a loss of CNY 74,216,187.52 in the same period of 2024, indicating a deterioration in profitability[21] - The total comprehensive income attributable to the parent company was -75,751,556.46 CNY for the first three quarters of 2025, compared to -70,795,214.13 CNY in the same period of 2024, reflecting a decline[22] Research and Development - Research and development expenses totaled ¥29,867,729.64, accounting for 61.51% of operating revenue, a decrease of 6.13 percentage points compared to the previous year[4] - The company experienced an increase in R&D personnel salaries and technical service fees, contributing to the rise in R&D expenses[8] - Research and development expenses amounted to CNY 80,488,664.94, down from CNY 89,580,909.36, showing a decrease of approximately 10.2%[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,990,091,002.88, down 2.62% from the previous year-end[4] - The total assets decreased to CNY 2,990,091,002.88 from CNY 3,070,471,115.59, a decline of about 2.6%[19] - Total liabilities increased to CNY 176,415,227.31 from CNY 168,008,997.41, reflecting an increase of approximately 5.3%[18] - The company's total equity decreased to CNY 2,813,675,775.57 from CNY 2,902,462,118.18, a decline of approximately 3.1%[19] Cash Flow - As of September 30, 2025, the company's cash and cash equivalents amounted to RMB 1,634,182,720.72, a decrease from RMB 1,900,689,509.48 as of December 31, 2024[16] - The company's cash and cash equivalents decreased from CNY 2,591,781,118.34 to CNY 2,355,620,681.36, a decline of about 9.1%[19] - The net cash flow from operating activities was -74,301,652.24 CNY for the first three quarters of 2025, an improvement from -87,117,140.32 CNY in the same period of 2024[24] - Cash received from sales of goods and services was 140,111,461.18 CNY, down from 147,537,019.34 CNY year-over-year[23] - Total cash inflows from operating activities amounted to 166,031,498.26 CNY, compared to 181,208,800.76 CNY in the previous year[23] - Cash outflows from operating activities totaled 240,333,150.50 CNY, a decrease from 268,325,941.08 CNY in the same period of 2024[23] - The net cash flow from investing activities was -132,556,200.07 CNY for the first three quarters of 2025, compared to -126,684,987.67 CNY in the same period of 2024[24] - Cash inflows from investing activities were 36,118,316.49 CNY, while cash outflows were 168,674,516.56 CNY, resulting in a significant net outflow[24] - Cash flow from financing activities resulted in a net outflow of -59,838,505.91 CNY, slightly improved from -60,535,883.87 CNY in the previous year[24] - The ending cash and cash equivalents balance was 1,633,516,170.72 CNY, down from 1,951,042,164.80 CNY year-over-year[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,339[10] - The company repurchased a total of 693,511 shares, representing 0.78% of the total share capital, with a total expenditure of RMB 50,502,956[13] - The company plans to grant up to 693,511 restricted stocks to core technical personnel, representing 0.78% of the total share capital[14] - The maximum price for repurchased shares was RMB 96.67 per share, while the minimum was RMB 39.65 per share[13] - The company has not disclosed any significant changes in the relationships among its major shareholders[12] Inventory and Other Assets - The company reported a total inventory of RMB 17,272,593.41 as of September 30, 2025, slightly up from RMB 17,224,963.52[16] - The company’s contract assets stood at RMB 18,336,658.14, compared to RMB 17,514,923.61 in the previous year[16] - The company’s prepayments increased to RMB 16,279,852.07 from RMB 9,195,486.02 year-over-year[16] - The company reported a significant increase in other income to CNY 10,514,160.02 from CNY 6,518,065.68, representing an increase of about 61.1%[20] Earnings Per Share - The company reported a basic and diluted earnings per share of -¥0.34 for the quarter, and -¥0.86 year-to-date[3] - The company reported a basic and diluted earnings per share of -0.86 CNY for the current period, compared to -0.80 CNY in the previous period[22] - The weighted average return on net assets was -1.09%, a decrease of 0.94 percentage points compared to the previous year[3]

索辰科技公告，第三季度营收为4855.97万元，同比增长56.14%；净利润亏损3025.28万元。前三季度营 收为1.06亿元，同比增长27.83%；净利润亏损7595.11万元。 ...

Summary of the Conference Call for Suochen Technology Company Overview - **Company**: Suochen Technology - **Industry**: Computer-Aided Engineering (CAE) and Physical AI Key Points Industry and Market Position - Suochen Technology is a leading domestic CAE software company in China, with a market share of approximately 4.5% to 5% in 2024, benefiting from the trend of domestic substitution due to increasing localization rates [4][3][13] - The global CAE market is valued at around $10 billion, while the Chinese market is close to 100 billion RMB, indicating significant growth potential as the awareness of software licensing increases [13] Financial Performance and Projections - In the first half of 2025, Suochen Technology achieved approximately 3.75 million RMB in revenue from its Physical AI platform, accounting for 6.5% to 7% of total revenue, with a target of 30 million RMB for the full year [2][5] - The company expects total revenue to approach 500 million RMB in 2025, representing a year-on-year growth of about 30%, and to reach approximately 620 million RMB in 2026 [6][4] - Profit margins are anticipated to recover to 25% to 30% as the company expands its operations [6] Product Development and Innovations - Suochen Technology launched the "Kaiwu" Physical AI platform, which competes with NVIDIA's Omniverse, and introduced a training platform for embodied intelligence and robotics [2][5] - The company aims to bridge the gap between real and simulated environments, particularly in the wind power sector, optimizing turbine designs and securing a 30 million RMB order in the low-altitude economy project [11] Competitive Advantages - Suochen Technology's comprehensive product layout, especially in multi-physical fields and AI-related areas, positions it favorably against foreign competitors like Ansys, which is experiencing slower growth in China [4][13] - The company has a strong focus on domestic market needs and has been actively involved in mergers and acquisitions to enhance its industry channels and hardware capabilities [14] Challenges and Solutions - The robotics industry faces challenges related to data generalization and precision, which Suochen aims to address through simulation data that reduces costs and increases data diversity [9][10] - The reliance on simulation data is crucial for training robots, allowing for diverse action attempts and adaptability to environmental changes [10] Future Outlook and Valuation - The company maintains a median PS valuation of around 20 times since its IPO in April 2024, with a projected valuation ceiling of approximately 30 billion RMB based on capturing 20% of the potential 150 billion RMB CE market [7][18] - The anticipated revenue growth from Physical AI and high-margin business models could further enhance the company's valuation, with a conservative estimate suggesting a valuation space of at least 12.4 billion RMB by 2026 [8][18] Impact of External Factors - Being placed on the U.S. Entity List has not adversely affected Suochen's fundamentals, as the company relies solely on domestic sales and does not depend on overseas technology [15] Strategic Directions - Suochen plans to expand its business into automotive and wind power sectors while continuing to develop its simulation platform and data delivery for the robotics field [12][11] This summary encapsulates the essential insights from the conference call regarding Suochen Technology's market position, financial outlook, product innovations, competitive advantages, and strategic directions.

Core Insights - The stock price of Suochen Technology has seen a significant increase of 91.97% year-to-date, with a recent drop of 2.08% on October 28, trading at 104.30 CNY per share [1] - The company specializes in CAE software development, sales, and services, with a revenue composition heavily weighted towards its TianGong simulation products [2] - As of June 30, 2025, the company reported a revenue of 57.35 million CNY, reflecting a year-on-year growth of 10.82%, while the net profit attributable to shareholders was -45.70 million CNY, showing a 31.21% increase in losses compared to the previous year [2] Financial Performance - The stock's trading volume on October 28 reached 202 million CNY, with a turnover rate of 3.85% and a total market capitalization of 9.29 billion CNY [1] - The company has made a cumulative cash distribution of 67.92 million CNY since its A-share listing [3] - The top ten circulating shareholders include new entrants such as Nuoan Active Return Mixed A, which holds 953,600 shares [3] Market Activity - The stock has experienced significant trading activity, with net outflows of 9.41 million CNY from major funds on October 28, while large orders accounted for 26.30% of buy transactions and 34.90% of sell transactions [1] - Suochen Technology has appeared on the "Dragon and Tiger List" once this year, with a net buy of 23.53 million CNY on March 17 [1]