Core Viewpoint - Haitai Ruisheng (688787) has experienced significant growth in its performance, driven by the rapid evolution of multimodal AI technology and the deep application of AI in vertical industries, creating new market opportunities [1] Group 1: Financial Performance - In 2024, Haitai Ruisheng achieved total revenue of 237 million yuan, a nearly 40% year-on-year increase, and a net profit attributable to shareholders of 11.3361 million yuan, marking a turnaround from losses [1] - The company reported a net profit attributable to shareholders in the first quarter of this year, indicating a continued positive trend [1] Group 2: Business Growth Drivers - The core drivers of revenue growth for 2025 will be the increasing demand for cross-modal fusion data and the rapid iteration of multimodal large models [1] - The company's computer vision and natural language businesses have experienced rapid growth, supported by the implementation of AI in government, legal compliance, and other application scenarios [1] Group 3: Global Expansion and Strategic Initiatives - Haitai Ruisheng has expanded its data delivery system in Southeast Asia, which is now in the ramp-up operational phase, contributing to significant incremental revenue [1] - The company aims to explore the overseas custom service market, which is expected to become a new strategic foothold for business expansion [1] Group 4: Data Service Market Trends - The data service market is expected to undergo a reshuffle, with increasing concentration as major players invest in technology research and resource capability building [3] - Companies lacking data security and compliance capabilities are likely to be eliminated from the market due to stricter national regulations [3] - The company is collaborating with local governments and universities to develop data labeling talent and enhance the regional digital economy [3]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][10]. Core Insights - The company is recognized as a leading AI training data provider in China, with a significant uptick in performance driven by the rapid development of large model technologies and the increasing demand for multilingual and natural language processing services [5][6]. - The company has established a strong competitive edge through its standardized dataset products, with over 1,700 proprietary training datasets available, catering to various AI core fields [7]. - Strategic collaborations with government entities and local operators are underway to build a "trusted data space," enhancing data governance and circulation systems [8]. - A partnership with Huawei has led to the launch of the Deepseek data flywheel intelligent agent, which integrates high-performance hardware and software for comprehensive data processing solutions [9]. Financial Performance - In 2024, the company achieved a revenue of 237 million yuan, representing a year-on-year growth of 39.45%, with a net profit attributable to shareholders of 11.34 million yuan [6][10]. - The first quarter of 2025 saw a rapid revenue increase of 71.75% year-on-year, reaching approximately 69.81 million yuan, with a turnaround to profitability [6]. - Forecasts for 2025-2027 predict earnings per share (EPS) of 0.33, 0.49, and 0.70 yuan, with corresponding price-to-earnings (P/E) ratios of 290.74, 192.52, and 135.94 [10][11].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2]. Core Insights - The company is recognized as a leading AI training data service provider in China, with a significant performance turnaround expected due to the rapid development of large model technologies and the increasing demand for AI training datasets across various applications [5][6]. - The company has established a strong competitive edge through its standardized dataset products, with over 1,700 proprietary training datasets developed, catering to the growing needs of central enterprises in AI training [7]. - The company is actively exploring new business models in the data industry and collaborating with local governments to build trusted data spaces, enhancing data governance and circulation systems [8]. - A partnership with Huawei has led to the launch of the Deepseek data flywheel intelligent agent, which integrates high-performance hardware and software for comprehensive data processing and model training solutions [9]. Financial Performance - In 2024, the company achieved a revenue of 237 million yuan, representing a year-on-year growth of 39.45%, driven by the demand for multilingual and natural language processing services [6]. - The company's net profit attributable to shareholders was 11.34 million yuan in 2024, with a significant increase in gross margin due to a higher proportion of high-margin dataset products [6]. - For the first quarter of 2025, the company reported a revenue growth of 71.75% year-on-year, amounting to 69.81 million yuan, indicating a strong recovery and profitability [6]. Earnings Forecast - The company is projected to have earnings per share (EPS) of 0.33, 0.49, and 0.70 yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (P/E) ratios of 290.74, 192.52, and 135.94 [10][11]. - Revenue is expected to grow to 338 million yuan in 2025, with a growth rate of 42.67%, and further increase to 441 million yuan in 2026 [11][12]. - The net profit attributable to shareholders is forecasted to reach 19.77 million yuan in 2025, reflecting a growth rate of 74.41% [11].

Core Insights - The launch of the "Haitian Ruisheng X Ascend DeepSeek Data Flywheel Intelligent Agent" aims to address the core challenges of digital transformation for enterprises, providing a zero-code, low-threshold deployment solution for intelligent agents [1][7] Group 1: Technological Empowerment - The new solution tackles high deployment barriers and data security risks associated with AI technology in various industries, leveraging the Ascend AI foundational hardware and software platform for robust computational support [3] - The software integrates the Haitian Ruisheng Data Flywheel Intelligent Agent platform, DOTS data labeling platform, and AI research and development platform, creating a complete closed loop from data labeling to model training [3] Group 2: Three Key Advantages - The intelligent agent system is designed to ensure data security while allowing for rapid deployment with minimal transformation costs, tailored to meet specific business needs [4] - Utilizing Retrieval-Augmented Generation (RAG) technology, the solution deeply extracts internal data value and supports multi-source data mixed retrieval, ensuring outputs are closely aligned with business scenarios [4] - The system features built-in intelligent parsing, automated labeling, and dynamic feedback mechanisms, forming a "data-training-application-feedback" loop that promotes continuous iteration of the intelligent agent and reduces manual maintenance costs [4] Group 3: Future Collaboration - The partnership between Haitian Ruisheng and Ascend not only addresses the "last mile" challenge of AI implementation but also builds a sustainable intelligent ecosystem, supporting the intelligent development across various industries [7]

Meeting Overview - The first meeting of the 2024 Employee Stock Ownership Plan (ESOP) was held on May 16, 2025, with 43 participants representing 100% of the total shares in the plan [1] - The meeting was convened and presided over by the company’s board secretary, Zhang Zhe [1] Resolutions Passed - The establishment of a management committee for the 2024 ESOP was approved to oversee and manage the plan, ensuring the rights of the shareholders are protected [1] - The management committee will consist of three members, including one chairperson, with a term that lasts for the duration of the ESOP [1] Voting Results - All 13,579,620.39 shares represented at the meeting voted in favor of the resolutions, resulting in 100% approval [2] - No votes were cast against the resolutions, and there were no abstentions [2] Committee Elections - Wang Shuang, Xu Huiyu, and Li Xinyuan were elected as members of the management committee for the 2024 ESOP [2] - Wang Shuang was subsequently elected as the chairperson of the management committee [2] Committee Responsibilities - The management committee is authorized to handle various responsibilities, including convening meetings, managing daily operations, and representing shareholders in exercising rights [2][3] - Specific duties include managing profit distribution, handling qualification cancellations, and making decisions regarding the recovery and transfer of shares [2][3][4] - The committee is also responsible for signing relevant documents and managing the assets of the ESOP, including investments in bank wealth management products [2][3][4]

Core Points - The annual general meeting of Beijing Haitan Ruisheng Technology Co., Ltd. is scheduled to discuss various proposals including the annual report, board work report, and profit distribution plan for 2024 [7][8][16]. Group 1: Meeting Procedures - Shareholders and their representatives must sign in at least 30 minutes before the meeting and present necessary identification documents [2][3]. - The meeting will follow a specific agenda, allowing shareholders to express their opinions and vote on proposals [2][4]. - Voting will be conducted both on-site and online, with results announced after the meeting [9][5]. Group 2: Financial Performance - The company reported a revenue of 237 million yuan for 2024, a year-on-year increase of 39.45% [28]. - The net profit attributable to shareholders was 11.34 million yuan, a significant increase compared to the previous year [28][16]. - The proposed cash dividend for 2024 is 3.50 yuan per share, totaling approximately 20.95 million yuan [16][17]. Group 3: Board and Management Reports - The board of directors will present the 2024 annual report and the work report, which includes a summary of the company's operational performance and strategic initiatives [8][27]. - The independent directors will also provide their annual report during the meeting [6]. Group 4: Proposals for Approval - Proposals include the reappointment of the accounting firm, approval of the financial budget for 2025, and adjustments to the company's business scope [12][19][25]. - The company plans to revise its articles of association to reflect changes in its business operations [25][26]. Group 5: Future Strategies - The company aims to enhance its global business presence and expand its data services related to AI and machine learning [34][35]. - There is a focus on improving data security and compliance in response to evolving regulations [36].

北京海天瑞声科技股份有限公司 2024 年年度股东大会会议资料 证券代码：688787 证券简称：海天瑞声 | 2024 | | 年年度股东大会会议须知 1 | | --- | --- | --- | | 2024 | | 年年度股东大会会议议程 3 | | 2024 | | 年年度股东大会会议议案 5 | | | 议案一 | 关于《2024 年年度报告》及其摘要的议案 5 | | | 议案二 | 关于《2024 年度董事会工作报告》的议案 6 | | | 议案三 | 关于《2024 年度监事会工作报告》的议案 7 | | | 议案四 | 关于续聘会计师事务所的议案 8 | | | 议案五 | 关于《2024 年度财务决算报告》的议案 9 | | | 议案六 关于 | 2024 年度利润分配预案的议案 10 | | | 议案七 | 关于《2025 年度财务预算报告》的议案 13 | | | 议案八 | 关于确认 年度董事薪酬金额及 2024 2025 年度董事薪酬方案的议案 14 | | | 议案九 | 关于确认 2024 年度监事薪酬金额及 2025 年度监事薪酬方案的议案 16 | | | 议案十 | 关 ...

证券代码：688787 证券简称：海天瑞声 公告编号：2025-018 北京海天瑞声科技股份有限公司 2024 年员工持股计划第一次持有人会议决议公告 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、会议召开情况 北京海天瑞声科技股份有限公司（以下简称"公司"）2024 年员工持股计 划第一次持有人会议于 2025 年 5 月 16 日以现场与通讯相结合方式召开，本次 会议通知已于 2025 年 5 月 12 日向全体持有人发出。本次会议由公司董事会秘 书张哲先生召集和主持，出席本次会议的持有人 43 人，代表 2024 年员工持股 计划份额 13,579,620.39 份，占公司 2024 年员工持股计划总份额的 100%。会议 的召集、召开和表决程序符合公司 2024 年员工持股计划的有关规定。会议以记 名投票表决方式，审议通过了以下议案： 二、会议审议情况 经与会持有人逐项审议，通过以下议案： 1、审议通过《关于设立公司 2024 年员工持股计划管理委员会的议案》 为保证公司 2024 年员工持股计划的顺利进行， ...

Group 1 - The core viewpoint of the article highlights the recent research conducted by Longying Fuze on the listed company Haitan Ruisheng, focusing on its revenue growth driven by advancements in multimodal AI technology and data service operations in Southeast Asia [1] - Haitan Ruisheng's revenue growth in Q1 2025 is attributed to the iteration of multimodal large models, high-quality image/video data acquisition, increased demand for scenario-based text data, and the operation of its Southeast Asia data delivery system [1] - The company is exploring the development of public data resources, training data annotation talents, and establishing local data annotation bases, indicating a strategic focus on enhancing its data capabilities [1] Group 2 - Haitan Ruisheng has become a significant data service provider in collaboration with telecom operators, suggesting a sustained increase in data demand in the future [1] - The revenue growth points for 2025 are expected to stem from the evolution of multimodal AI technology, deep applications in vertical industries, and the operation of the Southeast Asia data delivery system [1] - The company’s core competitiveness lies in its dual-mode service products, technological platform capabilities, supply chain resource management, and data security and compliance abilities [1] Group 3 - The main competitors of Haitan Ruisheng include domestic companies such as Data Hall and Biao Bei, as well as international firms like Appen and potentially Scale AI, which possess stronger technological attributes [1]

Group 1: Haitai Ruisheng - The revenue growth in Q1 2025 is primarily driven by the iteration of multimodal large models, high-quality image/video data acquisition, increased demand for scenario-based text data, and the operation of the Southeast Asia data delivery system [1] - The company is exploring the development of public data resources, training data annotation talents, and building local data annotation bases [1] - Haitai Ruisheng has become an important data service provider in collaboration with operators, with future data demand expected to continue growing [1] - Key revenue growth points for 2025 include the evolution of multimodal AI technology, deep applications in vertical industries, and the operation of the Southeast Asia data delivery system [1] - The company’s core competitiveness lies in its dual-mode service products, technical platform capabilities, supply chain resource management, and data security and compliance capabilities [1] Group 2: Wanrun New Energy - In Q1, the company achieved a shipment of 74,000 tons, representing a year-on-year increase of 138%, with strong industry demand and an expected increase in shipments in Q2 [2] - Despite rising prices of some raw materials like MP and ferrous sulfate, the company has managed cost pressures through expanded procurement channels, staggered purchasing, and enhanced supply chain and inventory management [2] - The company plans to deepen cooperation with strategic customers to expand market share and enhance global competitiveness [2] - The sodium battery materials are expected to exceed 200 tons in shipments in 2024, applied in small electric vehicles and low-speed four-wheelers, indicating a positive outlook for the sodium battery market [2] - The U.S. project land and factory have been successfully delivered, and the company is advancing design and approval processes [2]