南京莱斯信息技术股份有限公司 2024 年年度股东大会会议资料 证券代码：688631 证券简称：莱斯信息 南京莱斯信息技术股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 南京莱斯信息技术股份有限公司 2024 年年度股东大会会议资料 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《公司法》、中国证监会《上市公司股东会规则》和公司《股东大会议事规 则》等有关规定，特制定本会议须知： 一、全体参会人员应以维护全体股东的合法权益、保障会议的正常秩序和议 事效率为原则，自觉履行法定义务。 二、为保证股东大会的严肃性和正常秩序，除出席会议的股东及股东代理人、 董事、监事、高级管理人员、公司聘请的律师及公司董事会要求的人员以外，公 司有权依法拒绝其他人士入场。为确认出席股东大会的股东或其他出席者的出席 资格，会议工作人员将对出席会议者的身份进行必要的核对工作，请被核对者予 以配合。 三、出席会议的股东及股东代理人须在会议召开前 30 分钟到会议现场办理 签到手续，并按规定出示身份证原件、法人营业执照副本复印件（加盖公章）、 股票账户卡原件、授权委托书原件（法定代表人/ ...

Core Insights - The transportation information technology industry in China is experiencing continuous growth, with a market size reaching 219.67 billion yuan in 2023, projected to be approximately 243.75 billion yuan in 2024, and expected to exceed 260 billion yuan in 2025 [12][21] - The advancement of technologies such as 5G, IoT, and AI is driving the expansion of the transportation information market, enhancing system intelligence and operational efficiency [12][22] Industry Definition and Classification - Transportation information technology refers to the comprehensive upgrade and transformation of transportation systems using modern information technologies (e.g., IoT, big data, AI, 5G) to improve efficiency, safety, sustainability, and user experience [1] Industry Chain Analysis - The industry chain includes upstream hardware suppliers and software providers, midstream solution providers, and downstream operational enterprises and end-users, all collaborating closely to drive intelligent, green, and integrated upgrades [3] Development History - The industry has evolved over three decades from basic electronic systems to a fully intelligent ecosystem, with significant milestones in digitalization, data sharing, and the integration of advanced technologies [5] Current Industry Status - The market size of the transportation information technology industry is expanding, driven by the application of new technologies, with 5G enhancing system intelligence and AI playing a crucial role in traffic flow prediction and intelligent scheduling [12][21] Key Enterprises Analysis - The industry features a competitive landscape with leading companies like Yihualu and Silver River Technology leveraging data assets and AI algorithms to dominate high-value scenarios, while regional players focus on localized services and vertical breakthroughs [14][19] Future Development Trends - Integrated development is a key trend, emphasizing the need for multi-modal transport information platforms to enhance logistics efficiency and reduce costs [21] - Technological innovation through the integration of IoT and AI is transforming traffic management and decision-making processes [22][23] - Enhancements in safety and emergency management through information technology are critical, focusing on network security and the integration of various information sources for effective emergency response [24]

一、持续督导工作概述 中信证券股份有限公司 关于南京莱斯信息技术股份有限公司 2024 年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为南京莱 斯信息技术股份有限公司（以下简称"莱斯信息"或"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人。根据《证券发行上市保荐业务管理 办法》、《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持 续督导职责，并出具本持续督导年度跟踪报告。 （3）查阅公司与控股股东、实际控制人及其关联方的资金往来明细及相关 内部审议文件、信息披露文件，查阅会计师出具的 2024 年度审计报告、关于 2024 年度控股股东及其他关联方占用发行人资金情况的专项报告； 1 （4）查阅公司募集资金管理相关制度、募集资金使用信息披露文件和决策 程序文件、募集资金专户银行对账单、募集资金使用明细账、会计师出具的 2024 年度募集资金存放与使用情况鉴证报告； 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 ...

Investment Rating - The investment rating for the computer industry is "Buy" [2] Core Insights - The computer industry is experiencing a bottoming out of demand in 2024, with significant differences in structural performance across various segments. Companies are enhancing operational efficiency to cope with the challenges [6][14] - The median revenue growth rate for the industry in 2024 is -1.59%, a decrease of 4.88 percentage points from 2023. The median net profit growth rate is -2.24%, down 8.35 percentage points from the previous year [15] - The report highlights that while revenue and profit metrics are declining, the rate of decline is slowing, indicating potential for improvement in Q1 2025 [15][16] Summary by Sections 1. 2024 Annual Report: Bottoming Demand and Efficiency Improvements - The report analyzes the performance of 208 listed companies in the computer industry, revealing that the overall revenue growth is stabilizing, and profit margins are showing signs of recovery [14][15] - Different segments within the industry show varying performance, with IT hardware, trusted computing, and smart vehicle sectors demonstrating positive growth trends [16][28] 2. Demand Stabilization and Financial Indicators - The report notes that contract liabilities are beginning to improve, and accounts receivable growth is declining, indicating a more stable financial environment [23][24] - Cash inflows from sales of goods and services have significantly increased, reflecting a positive trend in operational cash flow [24] 3. Investment Activity and Valuation Levels - The report indicates an increase in net cash outflow from investment activities, suggesting an expansion trend among companies [26] - As of April 30, 2025, the industry’s price-to-earnings (P/E) ratio is 46 times, with software companies showing a higher P/E increase compared to hardware companies [19][20] 4. Key Areas of Investment Value - The report identifies several key areas with strong investment potential, including AI applications, domestic software and hardware replacements, and the smart driving industry [20][21] - The acceleration of domestic orders in trusted computing and the expansion of the Harmony OS ecosystem are expected to enhance the competitive edge of leading companies in the industry [20][21]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the benchmark index [5][7]. Core Insights - The company has shown resilience in its core aviation traffic management and urban traffic management businesses, with revenue from the aviation sector growing by 13.68% year-on-year and urban traffic management increasing by 33.47% [2]. - The company is actively investing in research and development, with R&D expenditures reaching 146 million yuan in 2024, a 13.21% increase from the previous year [3]. - The company is positioning itself as a leader in the low-altitude economy, launching a comprehensive solution centered around the "Tianmu" low-altitude flight service management platform and establishing a provincial-level low-altitude platform in Jiangsu [4]. Financial Performance Summary - In 2024, the company reported total revenue of 1.61 billion yuan, a decrease of 3.94% year-on-year, and a net profit of 129 million yuan, down 2.31% year-on-year [2]. - The first quarter of 2025 saw a significant decline in revenue to 109 million yuan, a drop of 55.53% year-on-year, with a net loss of 15 million yuan [2]. - Revenue projections for 2025-2027 are estimated at 1.85 billion, 2.11 billion, and 2.38 billion yuan respectively, with net profits expected to reach 165 million, 208 million, and 252 million yuan [5][9].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the benchmark index [5][7]. Core Insights - The company has shown resilience in its core aviation traffic management and urban traffic management businesses, with revenue from the aviation sector growing by 13.68% year-on-year and urban traffic management increasing by 33.47% [2]. - The company is actively expanding its low-altitude economy initiatives, launching the "Tianmu" series of products centered around low-altitude flight service management [4]. - The company’s R&D investment reached 146 million yuan in 2024, marking a 13.21% increase, which supports its leadership in domestic air traffic control [3]. Financial Performance Summary - In 2024, the company reported total revenue of 1.61 billion yuan, a decrease of 3.94% year-on-year, with a net profit of 129 million yuan, down 2.31% [2]. - For the first quarter of 2025, the company’s revenue was 109 million yuan, reflecting a significant decline of 55.53% year-on-year, with a net loss of 15 million yuan [2]. - The forecast for 2025-2027 projects revenues of 1.85 billion, 2.11 billion, and 2.38 billion yuan respectively, with net profits expected to rise to 165 million, 208 million, and 252 million yuan [5][9]. Market Position and Strategy - The company is positioned as a leader in the domestic air traffic control sector, actively participating in the national "8+N" construction initiative and securing key projects in major cities [3]. - It is also focusing on expanding its airport product applications, with new products being promoted in various regional airports [3]. - The company is establishing itself as a benchmark in the low-altitude platform sector, particularly with the Jiangsu provincial low-altitude service management platform [4].

证券研究报告·公司点评报告·软件开发 莱斯信息（688631） 2024 年年报和 2025 年一季报点评：25Q1 业 绩符合预期，低空有望持续引领 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,676 | 1,610 | 1,844 | 2,222 | 2,665 | | 同比（%） | 6.35 | (3.94) | 14.56 | 20.46 | 19.96 | | 归母净利润（百万元） | 132.09 | 129.04 | 153.24 | 191.05 | 240.60 | | 同比（%） | 47.60 | (2.31) | 18.75 | 24.67 | 25.94 | | EPS-最新摊薄（元/股） | 0.81 | 0.79 | 0.94 | 1.17 | 1.47 | | P/E（现价&最新摊薄） | 98.50 | 100.82 | 84.90 | 68.10 | 54.08 | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [1][8]. Core Insights - The company reported a revenue of 1.61 billion yuan for 2024, a year-on-year decrease of 3.94%, and a net profit attributable to shareholders of 129 million yuan, down 2.31% year-on-year, which aligns with market expectations [2][8]. - In Q1 2025, the company achieved a revenue of 109 million yuan, reflecting a significant year-on-year decline of 55.53%, with a net loss of 15 million yuan, which is a reduction of 5.10% compared to the previous year, also meeting market expectations [2][8]. - The company is positioned as a leader in air traffic control systems and is expected to benefit from the ongoing development of low-altitude economy infrastructure, which is anticipated to drive future growth [8]. Financial Summary - The total revenue forecast for the company is projected to grow from 1.61 billion yuan in 2024 to 2.67 billion yuan by 2027, with a compound annual growth rate (CAGR) of approximately 19.96% [1][9]. - The net profit attributable to shareholders is expected to increase from 129 million yuan in 2024 to 241 million yuan in 2027, reflecting a CAGR of 25.94% [1][9]. - The earnings per share (EPS) is forecasted to rise from 0.79 yuan in 2024 to 1.47 yuan in 2027, indicating a positive trend in profitability [1][9].

Group 1 - The core products of Zhaoli Pharmaceutical show stable growth, with a high dividend payout ratio maintained, achieving a revenue of 2.578 billion yuan in 2024, a year-on-year increase of 32.71% [8][9] - The company has significantly reduced costs and improved efficiency, with a notable decrease in expense ratios, including a sales expense ratio of 32.53%, down 7.5 percentage points year-on-year [9] - The company plans to implement an employee stock ownership plan by the end of 2024, with profit growth targets set at no less than 30% for 2025 [10] Group 2 - Weining Health's revenue for Q1 2025 was 345 million yuan, a year-on-year decrease of 30.24%, with a net profit of 5.29 million yuan, down 68.18% [11][12] - The company is focusing on cost reduction and efficiency improvement, with a significant increase in cash flow from operating activities, up 120.53% year-on-year [12] - The WiNEX product is entering a phase of mass delivery, supporting internet operations and international adaptation, with a strong digital architecture capable of handling millions of transactions [14][15] Group 3 - Lais Information's revenue for 2024 was 1.61 billion yuan, a year-on-year decrease of 3.94%, while Q1 2025 revenue dropped by 55.53% to 109 million yuan [17][18] - The company is optimizing its business structure, with significant growth in air traffic control and urban traffic management sectors, achieving revenue increases of 13.68% and 33.47% respectively [18][19] - The company is enhancing its research and development efforts, with a focus on refining its product offerings and improving operational efficiency [20] Group 4 - FenJung Media reported a revenue of 12.262 billion yuan in 2024, a year-on-year increase of 3.01%, with a net profit of 5.155 billion yuan, up 6.80% [23][25] - The company maintains a high dividend payout ratio, with cash dividends amounting to 4.766 billion yuan, representing 92.45% of net profit [24][25] - The planned acquisition of New潮传媒 is expected to enhance the company's competitive position in the outdoor advertising market [28] Group 5 - Jingwang Electronics achieved a revenue of 12.659 billion yuan in 2024, a year-on-year increase of 17.68%, with a net profit of 1.169 billion yuan, up 24.86% [30][31] - The company is expanding its production capacity, with a focus on high-end markets and AI applications, particularly in the automotive sector [32][33] - The company is increasing its R&D investments to support technological advancements and market expansion [33]

南京莱斯信息技术股份有限公司： 中信证券股份有限公司（以下简称"本保荐人"）作为对贵公司进行持续督 导的保荐人，按照《上海证券交易所上市公司自律监管指引第 11 号——持续督 导》的有关要求，对贵公司认真履行了持续督导职责。 经过持续督导现场检查工作，中信证券认为：2024 年，贵公司在公司治理、 内控制度、三会运作、信息披露、独立性、关联交易、对外担保、重大对外投资、 募集资金使用、经营状况等重要方面总体运行良好，符合《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《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》等法规的相关要求。 中信证券股份有限公司 关于南京莱斯信息技术股份有限公司2024年持续督导工作现场 检查结果及提请公司注意事项 1 附件：《中信证券股份有限公司关于南京莱斯信息技术股份有限公司 2024 年持续督导工作现场检查报告》 2 （本页无正文，为《中信证券股份有限公司关于南京莱斯信息技术股份有限 公司 2024 年持续督导工作现场检查结果及提请公司注意事项》之盖章页） 保荐人：中信证券股份有限公司 年 月 日 基于 2024 年度现场检查，本保荐人 ...