Market Overview - On September 16, the software development sector rose by 1.69%, with Yinzhijie leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Top Gainers in Software Development Sector - Yinzhijie (300085) closed at 58.16, up 7.05% with a trading volume of 923,500 shares and a turnover of 524.7 million [1] - Suochen Technology (688507) closed at 104.54, up 6.85% with a trading volume of 47,800 shares and a turnover of 48.5 million [1] - Youkeshu (300209) closed at 6.54, up 6.69% with a trading volume of 1,282,400 shares and a turnover of 824 million [1] - Other notable gainers include Jiafa Education (300559), Hanwang Technology (002362), and Zhinanzhen (300803) with respective gains of 6.64%, 6.47%, and 6.22% [1] Decliners in Software Development Sector - ST Dongtong (300379) saw a significant decline of 19.96%, closing at 4.21 [2] - Weide Information (688171) decreased by 4.12%, closing at 54.42 [2] - Other notable decliners include Shenxinfu (300454) and Chengmai Technology (300598) with declines of 2.92% and 1.74% respectively [2] Capital Flow Analysis - The software development sector experienced a net inflow of 1.077 billion in main funds, while retail investors saw a net outflow of 198 million [2][3] - Major stocks like Yinzhijie and Zhinanzhen attracted significant main fund inflows of 418 million and 387 million respectively [3] - Conversely, retail investors showed a net outflow from these stocks, indicating a divergence in investment behavior [3]

Group 1 - The core viewpoint of the news is that Shanghai Suochen Technology Co., Ltd. has seen a stock price increase of 5.09%, reaching 102.82 CNY per share, with a total market capitalization of 9.162 billion CNY as of the report date [1] - The company specializes in CAE software development, sales, and services, with its main revenue sources being TianGong simulation product development (56.93%), TianGong engineering simulation software (29.33%), KaiWu engineering simulation software (6.55%), technical services (6.07%), and other sources (0.92%) [1] - The company was established on February 24, 2006, and went public on April 18, 2023 [1] Group 2 - Jin Yuan Shun An Fund has a significant holding in Suochen Technology, with its Jin Yuan Shun An Value Growth Mixed Fund (620004) holding 18,300 shares, representing 1.92% of the fund's net value, ranking as the eighth largest holding [2] - The fund has achieved a year-to-date return of 17.07% and a one-year return of 41.2%, with a total fund size of 69.7686 million CNY [2] Group 3 - The fund manager of Jin Yuan Shun An Value Growth Mixed Fund is Kong Xiangpeng, who has been in the position for over 8 years, and Han Chenyang, who has been managing for over 2 years [3] - The total asset size of the fund managed by Kong is 131 million CNY, while Han manages 788 million CNY [3]

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 2025 年第二次临时股东会的 法律意见书 二〇二五年九月 北京市中伦律师事务所（以下简称"本所"）作为上海索辰信息科技股份有 限公司（以下简称"公司"）的常年法律顾问，受公司委托，指派律师出席公司 2025 年第二次临时股东会（以下简称"本次股东会"）。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》"）等有关 法律、法规、规范性文件及《上海索辰信息科技股份有限公司章程》（以下简称 "《公司章程》"）的规定，对本次股东会进行见证并出具法律意见。 为出具本法律意见书，本所律师审查了公司本次股东会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为作为出具本法律意见书 所必需的材料，所提供的原始材料、副本、复印件等材料、口头证言均符合真实、 准确、完整的要求，有关副本、复印件等材料与原始材料一致。 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 ...

证券代码：688507 证券简称：索辰科技 公告编号：2025-051 上海索辰信息科技股份有限公司 2025年第二次临时股东会决议公告 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 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） 股东会召开的时间：2025 年 9 月 15 日 （二） 股东会召开的地点：上海市黄浦区淮海中路 300 号 K11 大厦 51 层公 司会议室 （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： | 1、出席会议的股东和代理人人数 | 98 | | --- | --- | | 普通股股东人数 | 98 | | 2、出席会议的股东所持有的表决权数量 | 39,953,484 | | 普通股股东所持有表决权数量 | 39,953,484 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例（%） | 45.1884 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 45.1884 | （四） 表决方式是否符合《公司法》及公司章程的规定，股东会主持情况 等。 ...

机构调研要点 问：公司年初发布的物理 AI 产品包含哪些功能？ 答：索辰开物系列涵盖(1) 物理 I 开发及应用平台的全场景解决方案，使开发者和工业用户能够轻松开 发和部署物理 I应用。这个是与英伟达的 omnivorous 对标的一款产品，严格意义来说是一种生态，公司 物理 I开发平台具备非常多的功能模块，包含生成式建模仿真一体化技术、实时环境渲染、物理 I模拟 引擎、实时环境感知、实时数据库等核心功能。(2) 基于物理 I 的自动设计训练一体化系统，实现成千 上万的设计样本智能衍生、验证与训练；生成式物理 I计算引擎结合自动 3D 实景渲染技术，能够高效 构建高保真的虚拟验证环境，精准复现和预测装备与环境之间的实时、多维互动，并为具身智能、低空 经济、深海经济、智能工业等场景提供高精度 3D仿真训练场。 截至2025年9月12日收盘，索辰科技（688507）报收于96.89元，较上周的94.73元上涨2.28%。本周，索 辰科技9月9日盘中最高价报99.99元。9月8日盘中最低价报94.0元。索辰科技当前最新总市值86.74亿 元，在软件开发板块市值排名58/133，在两市A股市值排名2140/5153。 ...

Core Viewpoint - The U.S. Department of Commerce has added 23 Chinese entities to its Entity List, bringing the total to 1,112 Chinese companies on the list, citing national security and foreign policy concerns [1][2]. Group 1: Entities Listed - The 23 entities include 13 related to semiconductors and integrated circuits [3]. - Three entities are involved in biotechnology and life sciences [4]. - Two entities are research institutes related to aerospace, quantum technology, and timing systems [5]. - Two entities are related to industrial and engineering software [5]. - Three entities are involved in supply chain and logistics services [7]. Group 2: Reasons for Listing - The U.S. government claims these entities are involved in acquiring U.S. origin items for China's modernization, aerospace defense, and quantum technology development [2]. - They are also accused of supporting advanced computing, integrated circuit manufacturing, and distribution, directly serving government and security systems [2]. - There are concerns regarding their participation in biotechnology, engineering software development, and semiconductor manufacturing equipment procurement, with risks of circumventing export controls [2]. Group 3: Export Control Implications - All items controlled under the Export Administration Regulations (EAR), including hardware, software, and technology, require a license from the U.S. Department of Commerce for export, re-export, or domestic transfer to the listed entities [7].

| 收盘价（元）： | 96.60 | | --- | --- | | 年内最高/最低（元）： | 124.00/39.44 | | 流通 A 股/总股本（亿 | 0.49/0.89 | | 股）： | | | 流通 股市值（亿）： A | 47.56 | | 总市值（亿）： | 86.08 | | 年 基础数据：2025 | 月 6 | 日 30 | | | --- | --- | --- | --- | | 基本每股收益(元)： | | | -0.52 | | 摊薄每股收益(元)： | | | -0.52 | | 每股净资产(元)： | | | 32.02 | | 净资产收益率(%)： | | | -1.79 | | 资料来源：最闻 | | | | 行业应用软件 索辰科技（688507.SH） 买入-A(首次) 上半年收入稳健增长，物理 AI 加速落地 2025 年 9 月 8 日 公司研究/公司快报 公司近一年市场表现 事件描述 市场数据：2025 年 9 月 8 日 执业登记编码：S0760524050001 邮箱：fangwenqian@szxq.com 邹昕宸 邮箱：zouxinchen@sxzq ...

Investment Rating - The report maintains a "Recommendation" rating for the company, with a target price of 111.65 CNY and a current price of 95.15 CNY [4][8]. Core Views - The company reported a revenue of 57 million CNY for H1 2025, representing a year-on-year increase of 10.82%. The net profit attributable to shareholders was -46 million CNY, with losses narrowing compared to the previous year [2][3]. - The company is focusing on two main product lines: "TianGong" (CAE) and "KaiWu" (Physical AI), with high-margin engineering simulation software contributing significantly to revenue growth [3][8]. - The company is committed to high R&D investment, with R&D expenses amounting to 50.62 million CNY in H1 2025, accounting for 88.27% of revenue [3][8]. - The "KaiWu" platform has shown initial success, generating 3.75 million CNY in revenue in H1 2025, with a target of 30 million CNY for the year [3][8]. - The company is strategically acquiring to enhance its industrial ecosystem, including a merger with a leading real-time industrial database company [3][8]. Financial Summary - Total revenue projections for 2025-2027 are 523 million CNY, 739 million CNY, and 1,071 million CNY, with corresponding growth rates of 38.0%, 41.4%, and 44.8% [4][8]. - The net profit attributable to shareholders is expected to reach 86 million CNY, 125 million CNY, and 169 million CNY for the same period, with growth rates of 107.8%, 45.1%, and 35.4% respectively [4][8]. - The company maintains a high gross margin, with an overall gross margin of 41.89% in H1 2025, driven by the increase in high-margin business [3][8].

Group 1 - The core viewpoint of the news is that Shanghai Soochow Technology Co., Ltd. experienced a decline in stock price, with a drop of 5.16% to 90.24 CNY per share, and a total market capitalization of 8.041 billion CNY as of the report date [1] - The company specializes in CAE software development, sales, and services, with its main revenue sources being engineering simulation software (60.29%), simulation product development (36.16%), technical services (2.86%), machining services (0.53%), and other businesses (0.16%) [1] - The company was established on February 24, 2006, and went public on April 18, 2023 [1] Group 2 - From the perspective of fund holdings, Bosera Fund has a significant position in Soochow Technology, with its Bosera Hengrun 6-Month Holding Period Mixed A Fund holding 3,046 shares, accounting for 0.53% of the fund's net value [2] - The fund has reported a floating loss of approximately 15,000 CNY due to the stock's decline [2] - The fund was established on October 26, 2021, and has a current scale of 43.7831 million CNY, with a year-to-date loss of 1.09% and a ranking of 6,584 out of 8,256 in its category [2]

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 112.81 CNY for the next six months [8][11]. Core Insights - The company reported a total revenue of 57.35 million CNY for H1 2025, representing a year-on-year growth of 10.82%. The net profit attributable to the parent company was -45.70 million CNY, showing a 31.21% improvement compared to the previous year [3]. - The company is transitioning from traditional CAE to physical AI, with a focus on engineering simulation software and solutions. The engineering simulation software revenue increased by 88.84% year-on-year to 16.82 million CNY in H1 2025 [4]. - The company is actively expanding its presence in the civil market and has signed strategic cooperation agreements with leading domestic enterprises, aiming for industry integration and resource optimization [6]. Financial Performance - The company expects revenues of 502.2 million CNY, 634.8 million CNY, and 759.1 million CNY for the years 2025, 2026, and 2027 respectively, with net profits projected at 73.8 million CNY, 91.4 million CNY, and 119.8 million CNY for the same years [11][12]. - The company’s gross margin is expected to improve, with a projected gross margin of 71.8% in 2025, increasing to 74.3% by 2027 [12][13]. Strategic Developments - The company is focusing on low-altitude physical AI platforms and has established partnerships to develop intelligent management systems for low-altitude airspace [5]. - The company is pursuing mergers and acquisitions to enhance its industry chain layout and is currently advancing a merger with Likong Technology [6][11].