Core Viewpoint - The annual report of Wuhan Dameng Database Co., Ltd. shows strong financial performance with a revenue of 1,044.43 million yuan, a year-on-year increase of 31.49%, and a net profit of 340.51 million yuan, up 24.14% [1] Group 1: Business Performance - The company's main business revenue reached 1,042.76 million yuan, growing by 31.64% year-on-year, with software product licensing as the core revenue driver, generating 893.90 million yuan, accounting for 85.59% of total revenue, and a year-on-year growth of 22.79% [2] - The software licensing business maintains a high gross margin of 99.69%, reinforcing the company's profitability [2] - The data and industry solutions segment saw a remarkable growth of 204.51%, achieving revenue of 98.05 million yuan, driven by project delivery and acceptance [3] - The operation service business also grew by 38.50%, reaching 37.76 million yuan, benefiting from the expansion of software licensing and solutions [3] - The sales of database integrated machines increased significantly by 179.59%, generating 13.05 million yuan, indicating a new growth driver for the company [3] Group 2: Market Trends and Opportunities - The growth of Dameng Data reflects the deepening of China's information technology innovation industry, driven by digitalization and security needs [3] - The global database market surpassed 101 billion USD in 2023, with China's market size at 7.41 billion USD (approximately 52.24 billion yuan), representing 7.34% of the global market [4] - The market share of international vendors like Oracle and IBM is declining, while domestic companies like Dameng Data are gaining significant market share [4] Group 3: R&D and Innovation - The company invested 206.68 million yuan in R&D in 2024, a year-on-year increase of 25.16%, representing 19.79% of total revenue [6] - Dameng Data has accumulated 345 invention patents and 402 software copyrights, with a focus on core technologies such as shared storage clusters and data encryption [6][7] - The company is developing a distributed native database with multi-model data processing capabilities and is focusing on cloud databases and distributed databases [7] Group 4: Strategic Positioning - The company is positioned to benefit from the national strategy for information technology innovation, with a projected compound annual growth rate of 12.23% in the domestic database market, expected to exceed 93 billion yuan by 2028 [5] - The domestic database industry is experiencing a tiered penetration pattern, with the government sector leading at an 80% localization rate, while other sectors like finance and energy show significant potential for growth [6] - Dameng Data aims to transition from a market follower to a standard setter in the global database industry through continuous technological innovation and product development [7]

Key Points - The company announced a capital increase through a bonus share scheme, with a ratio of 0.49 shares for each existing share [1][4] - The total number of shares after the capital increase will be 113,240,000 shares, up from 76,000,000 shares [4][5] - The capital for the increase comes from the company's capital reserve formed by the premium from share issuance, and this increase does not involve tax deductions [5] - The diluted earnings per share for the fiscal year 2024, after the share increase, is projected to be 3.65 yuan [5]

证券代码：688692 证券简称：达梦数据 公告编号：2025-025 武汉达梦数据库股份有限公司2024年年度权益分派实施公告 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。 重要内容提示： 每股转增0.49股 相关日期 | 股权登记日 | 除权（息）日 | 新增无限售条件流通股份 | | --- | --- | --- | | | | 上市日 | | 2025/5/22 | 2025/5/23 | 2025/5/23 | 一、 通过转增股本方案的股东会届次和日期 本次转增股本方案经公司2025 年 5 月 8 日的2024年年度股东会审议通过。 二、 转增股本方案 1. 发放年度：2024年年度 2. 分派对象： 本次转增股本以方案实施前的公司总股本76,000,000股为基数，以资本公积 金向全体股东每股转增0.49股，共计转增37,240,000股，本次分配后总股本为 公司存在首发战略配售股份，首发战略配售股份未全部上市流通 是否涉及差异化分红送转：否 每股转增比例 113,240,000股。 三、 相关日期 | 股 ...

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 证券代码：688692 证券简称：达梦数据 公告编号：2025-024 武汉达梦数据库股份有限公司 2024年年度股东会决议公告 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： 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 5 月 8 日 （二） 股东会召开的地点：湖北省武汉市东湖高新区高新大道 999 号未来科技 大厦 C3 栋武汉达梦数据库股份有限公司 1918 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 | 111 | | --- | --- | | 普通股股东人数 | 111 | | 2、出席会议的股东所持有的表决权数量 | 56,174,157 | | 普通股股东所持有表决权数量 | 56,174,157 | | 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 | 73.9133 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决 ...

北京金杜（成都）律师事务所 关于武汉达梦数据库股份有限公司 2024 年年度股东会的 法律意见书 致：武汉达梦数据库股份有限公司 为出具本法律意见书，本所律师查阅了公司提供的以下文件： 1. 公司 2024 年 12 月 24 日公告的《公司章程》； 2. 公司于 2025 年 4 月 11 日召开的第二届董事会第九次会议决议及同日 召开的第二届监事会第六次会议决议； 3. 公司于 2025 年 4 月 24 日召开的第二届董事会第十次会议决议及同日 召开的第二届监事会第七次会议决议； 4. 公司 2025 年 4 月 15 日刊登于上交所网站（网址：www.sse.com.cn） 的《武汉达梦数据库股份有限公司关于召开 2024 年年度股东会的通知》（以 下简称《本次股东会通知》）； 北京金杜（成都）律师事务所（以下简称本所）接受武汉达梦数据库股份 有限公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理 委员会《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国 境内（以下简称中国境内，为本法律意见书之 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a total revenue of 258 million yuan for Q1 2025, representing a year-on-year growth of 55.61%. The net profit attributable to shareholders reached 98.16 million yuan, up 76.39% year-on-year, significantly exceeding market expectations, primarily benefiting from the acceleration of the "Xin Chuang" initiative [2][4][10]. - The company's strong profitability in its basic software product model has led to an increase in net profit margin, which reached 37.45%, up 4.68 percentage points year-on-year. The gross profit margin for the reporting period was 96.92%, reflecting the high-margin nature of the software licensing business [10]. Summary by Sections Financial Performance - For Q1 2025, the company achieved total revenue of 258 million yuan, a 55.61% increase year-on-year. The net profit attributable to the parent company was 98.16 million yuan, marking a 76.39% increase year-on-year. The net profit after deducting non-recurring gains and losses was 96 million yuan, up 87.92% year-on-year [2][4][10]. Market Dynamics - The company's performance is attributed to the accelerated information technology construction in sectors such as government, energy, and transportation, along with increased procurement. The "Xin Chuang" industry products align with national policies favoring domestic products, leading to significant funding support and an optimistic outlook for industry growth in 2025 [10]. Profitability and Cost Management - The company maintained a strong gross profit margin of 96.92% and improved its net profit margin to 37.45%. The sales, management, and R&D expenses were 82 million yuan, 25 million yuan, and 55 million yuan respectively, with year-on-year increases of 29.72%, 36.51%, and 25.83%. However, the expense ratios as a percentage of sales decreased, indicating effective cost control [10]. Future Outlook - The company is positioned as a leader in the domestic database sector, with advantages in product autonomy, core technology breakthroughs, and ecosystem migration. The expected growth in the "Xin Chuang" promotion cycle from 2025 to 2027 is anticipated to support high industry growth [10]. The projected net profits for 2024, 2025, and 2026 are 470 million yuan, 580 million yuan, and 710 million yuan respectively, with corresponding price-to-earnings ratios of 59, 48, and 39 [10].

Core Insights - The company reported a revenue of 1.044 billion yuan for 2024, representing a year-on-year growth of 31.49%, and a net profit attributable to shareholders of 362 million yuan, up 22.22% [1] - In Q1 2025, the company achieved a revenue of 258 million yuan, a significant increase of 55.61% year-on-year, with a net profit of 98 million yuan, reflecting a growth of 76.39% [2] Revenue Breakdown - Software product licensing revenue for 2024 reached 894 million yuan, growing by 22.79% year-on-year, while operation and maintenance service revenue was 38 million yuan, up 38.50% [2] - The revenue from data and industry solutions surged to 98 million yuan, marking a remarkable increase of 204.51% year-on-year, and database integrated machine sales revenue was 13 million yuan, up 179.59% [2] R&D Investment - The company has been increasing its R&D investment, which accounted for 19.79% of revenue in 2024 and 21.21% in Q1 2025 [3] - The company has developed advanced technologies in database management systems, cloud computing, and big data, and is also focusing on the integration of databases with artificial intelligence [3] Market Positioning and Partnerships - The company is expanding its ecosystem by achieving compatibility with over 11,000 products and forming deep collaborations with more than a thousand top ISVs and channel partners [4] - The company is strategically focusing on the financial sector and implementing differentiated market strategies based on industry characteristics and customer needs to drive steady growth [4]

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 investment rating for the company is "Buy" and is maintained [6]. Core Views - The company achieved a total revenue of 1.044 billion yuan in 2024, representing a year-on-year growth of 31.49%. The net profit attributable to the parent company was 362 million yuan, up 22.22% year-on-year. In Q4 2024, total revenue reached 415 million yuan, a 19.34% increase year-on-year, with a net profit of 188 million yuan, growing by 5.43% [4][9]. - The growth in revenue is attributed to the acceleration of information construction in sectors such as energy and transportation, leading to a 22.79% increase in software product licensing revenue. Additionally, the data and industry solutions business saw a remarkable growth of 204.51% due to the expedited delivery and acceptance of major projects [2][9]. - The company's core business gross margin remains robust, with a significant recovery in profitability in Q4 2024. The gross margin for Q4 was 94.65%, reflecting a 22.06 percentage point increase from Q3 2024 [9]. Summary by Sections Financial Performance - Total revenue for 2024 was 1.044 billion yuan, with a year-on-year growth of 31.49%. The net profit attributable to the parent company was 362 million yuan, marking a 22.22% increase. In Q4 2024, total revenue was 415 million yuan, up 19.34% year-on-year, and net profit was 188 million yuan, a growth of 5.43% [4][9]. Business Segments - Software product licensing revenue increased by 22.79% to 894 million yuan, driven by heightened demand in energy and transportation sectors. The data and industry solutions segment surged by 204.51% to 98 million yuan, attributed to faster project deliveries. The database integrated machine sales grew by 179.59% to 13 million yuan, reflecting improved efficiency in database adaptation [2][9]. Profitability - The overall gross margin for 2024 was 89.63%, a decrease of 6.18 percentage points year-on-year, primarily due to the higher proportion of lower-margin data and industry solutions revenue. However, Q4 2024 saw a gross margin of 94.65%, indicating a strong recovery in profitability [9]. Future Outlook - The company is positioned to benefit from the anticipated acceleration of the domestic information technology innovation (信创) initiative, with expectations for accelerated growth from 2025 to 2027. Projected net profits for 2025, 2026, and 2027 are 470 million yuan, 580 million yuan, and 710 million yuan, respectively, with corresponding price-to-earnings ratios of 59, 47, and 38 [9].

2024 年年度股东会会议资料 武汉达梦数据库股份有限公司 2024 年年度股东会会议资料 股票简称：达梦数据 股票代码：688692 二〇二五年五月 2024 年年度股东会会议资料 目 录 | 2024 | 年年度股东会会议须知 | | 2 | | --- | --- | --- | --- | | 2024 | 年年度股东会会议议程 | | 4 | | 议案一：关于公司 | 2024 | 年年度报告及其摘要的议案 | 6 | | 议案二：关于公司 | 2024 | 年度董事会工作报告的议案 | 7 | | 议案三：关于公司 | 2024 | 年度监事会工作报告的议案 | 18 | | 议案四：关于公司 | 2024 | 年度财务决算报告的议案 | 23 | | 议案五：关于公司 | 2025 | 年度财务预算报告的议案 | 30 | | 议案六：关于公司 | 2024 | 年度利润分配及资本公积转增股本方案的议案 | 32 | | 议案七：关于预计 | 2025 | 年度日常性关联交易的议案 | 34 | | 议案八：关于与中国电子财务有限责任公司签订《全面金融合作协议》暨 | | | | | 关联交易的 ...