Group 1 - The company plans to repurchase its shares using funds from its initial public offering and its own funds, with a total repurchase amount between RMB 40 million and RMB 60 million, and a maximum repurchase price of RMB 84.39 per share [2] - The maximum repurchase price was adjusted to RMB 56.55 per share following the implementation of the 2024 annual equity distribution [3] - As of May 27, 2025, the company has repurchased 276,665 shares, representing 0.0342% of the total share capital, with a total expenditure of approximately RMB 9.99 million [4] Group 2 - The company will adhere to relevant regulations and guidelines during the repurchase process and will disclose information regarding the progress of the share repurchase in a timely manner [6]

证券代码：688568 证券简称：中科星图 公告编号：2025-038 中科星图股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 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。 2025 年 5 月 27 日，公司通过上海证券交易所交易系统以集中竞价交易方式首 次回购公司股份 276,665 股，已回购股份占目前公司总股本 809,555,636 股的比例 为 0.0342%，回购成交的最高价为 36.28 元/股，最低价为 35.96 元/股，支付的资金 总额为人民币 9,999,659.06 元（不含印花税、交易佣金等交易费用）。 本次回购符合相关法律法规的规定及公司的回购股份方案安排。 重要内容提示： 一、回购股份的基本情况 中科星图股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日召开第三 届董事会第四次会议、第三届监事会第四次会议，于 2025 年 5 月 7 日召开 2025 年第一次临时股东大会，审议通过《关于以集中竞价交易方式回购公司股份方案 的议案》。公司拟使用首次公开发行股票取得的 ...

Investment Rating - The report maintains a "Recommended" investment rating for the computer industry, particularly focusing on AI applications [2]. Core Insights - The report emphasizes that AI applications are entering a realization phase, with significant advancements in model performance and increasing enterprise adoption [2][12]. - The report highlights the emergence of multi-modal capabilities, cost-effective models, and enhanced reasoning abilities as key drivers for AI development [7][12]. - The report notes that the AI sector is witnessing a surge in demand, particularly in advertising, programming, search, big data, office applications, and education, indicating a robust growth trajectory [9][28][37]. Summary by Sections Model Performance Progress - Multi-modal capabilities are being enhanced, with major companies supporting text, image, audio, and video inputs, marking 2025 as a pivotal year for native multi-modal development [7][15]. - High-performance models like OpenAI's GPT-4.1 and Alibaba's Qwen3 have emerged, significantly reducing deployment costs while maintaining performance [7][15]. - New models are achieving breakthroughs in reasoning capabilities across mathematics, coding, and image tasks, meeting higher application demands [7][15]. AI Application Developments - Overseas AI applications are exceeding expectations, with major companies like Microsoft and Alibaba rapidly deploying AI agents to transform user interactions and enterprise workflows [8][28]. - The report identifies a trend where AI is creating new demand and significantly enhancing traditional business needs, particularly in advertising and programming sectors [9][28]. - Companies such as Applovin and Meta are experiencing substantial growth in advertising revenue, driven by improved ROI from AI technologies [9][42]. Agent Industry Progress - The report discusses the evolution of AI agents from tools to collaborative "AI colleagues," reshaping enterprise structures and workflows [11][35]. - Major firms are integrating AI agents into their operations, with Salesforce and ServiceNOW leading the way in enhancing business efficiency through automation [11][35]. - The report predicts that the AI agent market will transition to a multi-agent collaboration model, significantly impacting enterprise budgeting and valuation [11][12]. Investment Recommendations - The report expresses optimism about the accelerated development of AI, suggesting that companies strategically investing in AI are likely to see accelerated performance growth [12]. - It highlights the potential for market space to shift from IT budgets to human resource budgets, leading to a revaluation of AI application companies [12].

Industry Overview - Remote sensing satellites are defined as application satellites that utilize sensors onboard to detect the Earth's surface and lower atmosphere for information gathering. They can operate in orbit for several years and cover specified areas continuously when in geosynchronous orbit [1][2]. - The remote sensing satellite system consists of two main components: the satellite platform and the payload system, which includes various subsystems such as power units, antennas, and control electronics [1]. Industry Chain Analysis - The upstream of the commercial remote sensing satellite industry includes satellite manufacturing, launch services, and ground equipment manufacturing. Manufacturing involves materials, chips, and propulsion systems, while launch services cover rocket development and delivery [5][6]. - The midstream consists of commercial remote sensing satellite operations, primarily involving ground operators and data operators who sell data products and provide service solutions [6][8]. - The downstream application areas are divided into B-end (government and enterprises) and C-end (consumers), with various information products and services distributed to users [6][8]. Industry Development History - The Chinese commercial remote sensing satellite industry has evolved from non-existence to a significant presence, driven by policy support since 2014. The establishment of companies like Changguang Satellite Technology marked the beginning of commercial remote sensing in China [10][11]. - The period from 2015 to 2019 saw rapid development, with the emergence of private companies and significant projects like the "Beijing No. 2" satellite [11]. - Since 2020, the industry has entered a phase of large-scale commercialization, with numerous companies announcing satellite constellation and launch plans [11]. Industry Policy Background - The importance of satellite remote sensing has been emphasized in national strategies, with various supportive policies introduced to promote the industry and its applications [15][16]. Current Industry Status - China has seen a significant increase in remote sensing satellite launches, with 105 satellites launched in 2022, surpassing the US for the first time. In 2023, over 160 satellites were successfully launched [19][22]. - By the end of 2023, China had more than 323 commercial remote sensing satellites in orbit, with a diverse range of data types and enhanced capabilities [22][27]. Commercial Remote Sensing Satellite Market - The market for commercial remote sensing satellites in China has been steadily growing, driven by policy support, technological advancements, and diverse market demands. The industry scale exceeded 270 billion yuan in 2023, with direct benefits surpassing 50 billion yuan [26][27]. - The commercial operation models include self-owned satellite operators who develop and launch their satellites and those who purchase data for processing and resale [23][26]. Competitive Landscape - The commercial remote sensing satellite industry features a mix of cooperation and competition among companies. The competitive landscape is dynamic, influenced by manufacturing cycles, application demands, and market evaluations [28][29]. - The first tier of competition includes leading companies with comprehensive capabilities across the industry chain, while the second and third tiers focus on specific operational models and data services [28][29]. Future Industry Trends - The market for remote sensing satellites is expected to grow at around 10% annually, potentially exceeding 37.2 billion yuan by 2030, driven by increasing applications in various sectors [32][35]. - Future trends include technological innovations in satellite miniaturization, high-resolution imaging, and AI data processing, alongside expanding applications in agriculture, environmental monitoring, and disaster management [35].

Core Viewpoint - Company plans to adjust the share repurchase price limit and quantity after the implementation of the 2024 annual equity distribution, using excess funds from the IPO and its own funds for the repurchase [1][2][3] Summary by Sections Share Repurchase Plan - The company intends to repurchase its A-shares through centralized bidding, with a total repurchase fund not less than RMB 40 million and not exceeding RMB 60 million [1][4] - The maximum repurchase price is adjusted from RMB 84.39 per share to RMB 56.55 per share due to the equity distribution [3][5] - The repurchase period is set for no more than 12 months from the approval date by the shareholders' meeting [1] 2024 Annual Equity Distribution - The company approved a cash dividend of RMB 1.30 per 10 shares and a capital reserve increase of 4.90 shares per 10 shares during the 2024 annual shareholders' meeting [2][3] - The record date for the equity distribution is May 20, 2025, and the ex-dividend date is May 21, 2025 [3] Adjustments to Repurchase Parameters - The adjusted maximum repurchase price limit is calculated based on the cash dividend and the increase in share capital [5] - The estimated number of shares to be repurchased is adjusted to approximately 707,339 to 1,061,007 shares, representing about 0.09% to 0.13% of the total share capital post-equity distribution [5][4] - The adjustments will take effect from the ex-dividend date [4]

证券代码：688568 证券简称：中科星图 公告编号：2025-036 中科星图股份有限公司 关于 2024 年年度权益分派实施后 调整股份回购价格上限和回购数量的公告 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： 一、回购股份的基本情况 中科星图股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日召开第三 届董事会第四次会议、第三届监事会第四次会议，于 2025 年 5 月 7 日召开 2025 年第一次临时股东大会，审议通过《关于以集中竞价交易方式回购公司股份方案 的议案》。公司拟使用首次公开发行股票取得的超募资金和自有资金以集中竞价 交易方式回购公司发行的人民币普通股（A 股）股票，本次回购的股份拟用于注 销并减少公司注册资本，本次回购的资金总额不低于人民币 4,000 万元（含）且 不超过人民币 6,000 万元（含），回购价格不超过人民币 84.39 元/股（含），回 购期限为自公司股东大会审议通过本次回购方案之日起不超过 12 个月，具体回 购股份数量以回购完毕或回购实施期限届满时实 ...

证券代码：688568 证券简称：中科星图 公告编号：2025-037 中科星图股份有限公司 关于 2024 年年度权益分派实施后 调整向特定对象发行股票发行数量上限的公告 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： 中科星图股份有限公司（以下简称"公司"）2024 年年度权益分派方案已经 实施完毕，公司总股本由 543,325,930 股变更为 809,555,636 股，现将公司 2025 年度向特定对象发行 A 股股票（以下简称"本次向特定对象发行股票"）的发行 数量上限由不超过 162,997,779 股（含本数）调整为不超过 242,866,690 股（含本 数）。除上述调整外，公司本次向特定对象发行股票的其他事项未发生变化。 一、本次向特定对象发行股票发行数量上限的调整依据 公司于 2025 年 3 月 3 日召开第三届董事会第三次会议、第三届监事会第三 次会议，并于 2025 年 3 月 25 日召开公司 2024 年年度股东大会，审议通过《关 于中科星图股份有限公司 2025 年度向特定 ...

Group 1 - The Shanghai Stock Exchange Composite Index increased by 0.38%, while the Shanghai National New Sci-Tech Board State-Owned Enterprise Index decreased by 0.19%, closing at 972.15 points with a trading volume of 11.629 billion yuan [1] - The Shanghai National New Sci-Tech Board State-Owned Enterprise Index has risen by 1.13% over the past month, declined by 4.42% over the past three months, and increased by 0.12% year-to-date [1] - The index reflects the overall performance of state-owned enterprises listed on the Sci-Tech Board, selected from securities listed on the Sci-Tech Board that are either state-owned enterprises or have state capital participation without actual control [1] Group 2 - The top ten weighted stocks in the index include: China Resources Microelectronics (5.98%), Haiguang Information (5.73%), Western Superconducting (5.41%), Huahai Qingke (5.32%), SMIC (5.21%), Jinghe Integrated (3.97%), Zhongwei Company (3.90%), Huahong Semiconductor (3.66%), Zhongke Star Map (3.63%), and China Communication Signal (3.22%) [1] - The index's holdings are entirely from the Shanghai Stock Exchange, with a 100% allocation [1] - The industry composition of the index includes: Information Technology (53.86%), Industrial (30.03%), Materials (9.96%), Healthcare (3.53%), and Communication Services (2.62%) [2] Group 3 - The index samples are adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are adjusted in accordance with the periodic sample adjustments, which are fixed until the next scheduled adjustment unless a special situation arises [2] - Companies that are delisted or undergo mergers, acquisitions, or splits will be processed according to the calculation and maintenance guidelines [2]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index (950180) has weakened as of May 19, 2025, with mixed performance among constituent stocks [1] - Zhongyou Technology (688648) led the gains with an increase of 7.19%, while Tianzhun Technology (688003) experienced the largest decline at 4.66% [1] - The Sci-Tech Innovation Board Artificial Intelligence ETF (588930) fell by 1.57%, with the latest price at 1.13 yuan, but has seen a cumulative increase of 3.52% over the past month as of May 16, 2025 [1] Group 2 - The liquidity of the Sci-Tech Innovation Board Artificial Intelligence ETF was 2.6% during intraday trading, with a transaction volume of 20.98 million yuan [1] - The average daily transaction volume of the Sci-Tech Innovation Board Artificial Intelligence ETF over the past year was 82.25 million yuan [1] - The latest share count for the Sci-Tech Innovation Board Artificial Intelligence ETF reached 713 million, marking a new high since its inception [1] Group 3 - Minsheng Securities indicates that AI Agents are key to the software revolution, addressing the application limitations of generative AI models and advancing AI technology towards practical and intelligent applications [2] - AI Agents consist of a model, tools, and an orchestration layer, enabling autonomous goal achievement [2] - The commercialization path for AI Agents emphasizes different payment models for C-end (consumer) and B-end (business) applications, focusing on generality and extensibility for C-end, and task completion and accuracy for B-end [2] Group 4 - The future outlook suggests that the task length of AI Agents may double approximately every seven months, leading to a closed-loop development cycle where Agents can develop other Agents [2]

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。 证券代码：688568 证券简称：中科星图 公告编号：2025-035 中科星图股份有限公司2024年年度权益分派实施公告 重要内容提示： | 股权登记日 | 除权（息）日 | 新增无限售条件流 | 现金红利发放日 | | --- | --- | --- | --- | | | | 通股份上市日 | | | 2025/5/20 | 2025/5/21 | 2025/5/21 | 2025/5/21 | 一、通过分配、转增股本方案的股东大会届次和日期 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配及转增股本以方案实施前的公司总股本543,325,930股为基数， 1 公司存在首发战略配售股份，首发战略配售股份已全部上市流通 是否涉及差异化分红送转：否 每股分配比例，每股转增比例 每股现金红利0.13元（含税） ...