证券代码：688787 证券简称：海天瑞声 公告编号：2025-021 北京海天瑞声科技股份有限公司 股东、董事及高级管理人员减持股份计划公告 股东宁波丰琬因自身资金需求，计划通过集中竞价及大宗交易方式减持所持 有的公司股份合计不超过 1,206,503 股，合计不超过公司股份总数的 2.00%。其 中，通过集中竞价方式减持的，减持股份合计不超过 603,251 股，不超过公司股 份总数的 1.00%；通过大宗交易方式减持的，减持股份合计不超过 1,206,503 股， 不超过公司股份总数的 2.00%。减持期间为自公告披露之日起 3 个交易日后的 3 个月内进行。 本公司董事会、全体董事及相关股东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： 大股东、董事及高级管理人员持股的基本情况 截至本公告披露日，北京海天瑞声科技股份有限公司（以下简称"公司"）控 股股东、实际控制人贺琳及其一致行动人宁波中毅安创业投资合伙企业(有限合 伙)（以下简称"中毅安"）分别持有公司股份 12,137,615 股、6,935,780 股，分别 占 ...

海天瑞声公告，公司控股股东贺琳及其一致行动人中毅安计划减持不超过177.74万股，占公司股份总数 的2.9463%。股东宁波丰琬计划减持不超过120.65万股，占公司股份总数的2.00%。董事及高级管理人员 李科、吕思遥、黄宇凯、郝玉峰、张哲分别计划减持0.0172%、0.0135%、0.0168%、0.0008%、0.0043% 的股份。减持方式包括集中竞价及大宗交易，减持期间为公告披露之日起15个交易日后的3个月内。减 持原因为自身资金需求及经营需要。本次减持计划不会导致公司控股股东、实际控制人发生变化，不会 对公司持续稳定经营产生重大影响。 ...

海天瑞声：股东贺琳及其一致行动人中毅安拟减持不超2.9463%公司股份 金十数据6月30日讯，海天瑞声公告，股东贺琳及其一致行动人中毅安因自身资金需求、经营需要，计 划通过集中竞价及大宗交易方式减持所持有的公司股份合计不超过177.74万股，合计不超过公司股份总 数的2.9463%。其中，通过集中竞价方式减持的，减持股份合计不超过60.33万股，不超过公司股份总数 的1.00%；通过大宗交易方式减持的，减持股份合计不超过120.65万股，不超过公司股份总数的2.00%。 减持期间为自公告披露之日起15个交易日后的3个月内进行。 ...

Summary of Key Points from the Conference Call Company Overview - **Company**: 海天瑞声 (Haitian Ruisheng) - **Industry**: Data Annotation and AI Training Data Services Core Insights and Arguments - **2022 Performance**: Benefited from a surge in demand for autonomous driving visual data, leading to rapid growth [2][4] - **2023 Performance**: Revenue declined due to the impact of outbound data regulations, but net profit turned positive, and gross margin improved due to increased demand for multimodal data and unique datasets [2][6] - **Market Growth**: The data annotation industry is expected to have a compound annual growth rate (CAGR) exceeding 20% by 2027, with policy support increasing [2][7] - **Market Size Forecast**: The data annotation market is projected to exceed 10 billion yuan by 2025, with a growth rate of over 30% [2][8] - **Competitive Landscape**: 60% of demand comes from in-house teams, 35% from brand data service providers like Haitian Ruisheng, and the remaining from small data service providers, indicating increased market concentration [8] Important Developments - **Global Expansion**: The company is actively expanding its global AI client base, with expected overseas revenue growth of nearly 90% in 2024, surpassing 100 million yuan [5][14] - **Government Collaboration**: Partnered with China Mobile to launch the DeepThink industry intelligence solution, focusing on government clients and contributing to the construction of the ASEAN corpus and trusted data space [5][16] - **Future Revenue Growth**: Anticipates overall revenue growth exceeding 40% this year, with specific segments like computer vision and natural language processing expected to grow over 50% [18] Additional Insights - **Business Model**: The company’s business model includes customized services, standardized products, and application services related to training data [3] - **Scale AI Comparison**: The company’s future direction may align with Scale AI, which has seen significant growth and investment, indicating a potential roadmap for Haitian Ruisheng [14] - **Data Demand Shift**: The demand for data is shifting from general knowledge to specialized knowledge, driven by the development of large models [7] - **Scale AI Overview**: Scale AI, a competitor, provides data annotation and management services, with expected revenue growth from nearly 900 million USD in 2023 to over 2 billion USD in 2024 [11] Conclusion - The data annotation industry is poised for significant growth, driven by regulatory support and increasing demand for specialized data. Haitian Ruisheng is strategically positioning itself for future expansion, particularly in overseas markets and through government collaborations, while also navigating challenges posed by regulatory changes.

Investment Rating - The report assigns a "Buy" rating for the company, Hai Tian Rui Sheng (688787) [1]. Core Views - Hai Tian Rui Sheng is a leading provider of AI training data solutions in China, focusing on AI datasets and services for AI companies and research institutions. The company is expected to benefit from the growing demand for high-quality datasets driven by the development of large AI models [8][13]. - The data labeling industry is experiencing policy-driven growth, with expectations for a compound annual growth rate (CAGR) exceeding 20% by 2027. The demand for specialized data sets is increasing as AI applications expand [30][32]. - The company has established a global presence, with significant growth in overseas revenue and partnerships with government entities to enhance its data labeling capabilities [47][49]. Summary by Sections Company Overview - Hai Tian Rui Sheng, founded in 2005, is the first company in the AI data industry to be listed on the Sci-Tech Innovation Board. It provides multilingual, cross-domain, and cross-modal AI data services, covering over 200 major languages and dialects [13]. Market Dynamics - The data labeling industry is set to grow significantly, with the Chinese market expected to exceed 10 billion yuan by 2025. The demand for specialized data sets is increasing, particularly in sectors like healthcare and autonomous driving [30][37]. Financial Projections - Revenue projections for Hai Tian Rui Sheng are as follows: 2025 revenue is expected to reach 3.45 billion yuan, with net profit of 0.32 billion yuan. By 2027, revenue is projected to grow to 6.44 billion yuan, with net profit reaching 0.91 billion yuan [1][55]. Competitive Positioning - The company is positioned as a rare player in the A-share market focusing on AI training data solutions, with strong potential to secure orders from internet companies and state-owned enterprises [57]. Growth Strategy - Hai Tian Rui Sheng is expanding its global footprint by establishing a data delivery base in Singapore and forming joint ventures with local governments to enhance its data labeling operations [47][49]. Investment Thesis - The report emphasizes that high-quality datasets are foundational for AI development, and Hai Tian Rui Sheng is well-positioned to benefit from the ongoing evolution and application of AI large models [57].

Core Points - The company announced a differentiated cash dividend distribution plan, proposing a cash dividend of 0.35 yuan per share [1][2] - The total number of shares eligible for the dividend distribution is 59,859,063 shares, resulting in a total cash dividend payout of approximately 20,950,672.05 yuan (including tax) [2][3] - The dividend distribution will not include capital reserve transfers or stock bonuses, and the number of circulating shares will remain unchanged [1][2] Dividend Distribution Details - The cash dividend will be distributed to shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1][2] - The reference price for the ex-dividend trading will be calculated based on the formula: (previous closing price - cash dividend) / (1 + change in circulating shares ratio) [2] - The company will not distribute dividends to shares held in the repurchase special account [3] Taxation Information - For individual shareholders holding shares for more than one year, the dividend income is exempt from personal income tax, while those holding for one year or less will have tax withheld upon transfer [4] - For Qualified Foreign Institutional Investors (QFIIs), a 10% withholding tax will apply, resulting in a net cash dividend of 0.315 yuan per share [5] - Other institutional investors and corporate shareholders are responsible for their own tax obligations, with a gross cash dividend of 0.35 yuan per share [6]

Core Viewpoint - The company is implementing a differentiated dividend distribution plan for the fiscal year 2024, which is compliant with relevant laws and regulations, ensuring that the interests of the company and all shareholders are not harmed [8][9]. Group 1: Reasons for Differentiated Dividend - The company has approved a share repurchase plan, intending to use between RMB 15 million and RMB 30 million to repurchase its A-shares within 12 months [2][3]. - As of April 15, 2024, the company has repurchased 439,897 shares at a total cost of approximately RMB 29.99 million [3]. - By August 27, 2024, the company had repurchased an additional 466,117 shares at a cost of approximately RMB 19.99 million [4]. Group 2: Differentiated Dividend Plan - The company plans to distribute a cash dividend of RMB 3.50 per 10 shares (including tax) to all shareholders, excluding shares held in the repurchase account [5][6]. - The total number of shares eligible for the dividend distribution is 59,859,063, resulting in a total cash dividend payout of approximately RMB 20.95 million [5][6]. - The company will maintain the cash dividend amount per share even if the total share capital changes before the dividend distribution date [5]. Group 3: Compliance and Calculation Basis - The differentiated dividend distribution is in accordance with the provisions that shares in the repurchase account do not participate in profit distribution [6][7]. - The impact of the differentiated dividend on the ex-dividend reference price is calculated to be less than 1% [7]. - The company’s differentiated dividend plan meets the legal requirements and does not harm the interests of the company or its shareholders [8][9].

北京市天元律师事务所 关于北京海天瑞声科技股份有限公司 差异化分红事项的专项说明 北京市天元律师事务所 中国北京市西城区金融大街 35 号 国际企业大厦 A 座 509 单元 邮编：100033 北京市天元律师事务所 关于北京海天瑞声科技股份有限公司 差异化分红事项的专项说明 京天股字（2025）第 386 号 致：北京海天瑞声科技股份有限公司 北京市天元律师事务所（以下简称"本所"）接受北京海天瑞声科技股份有 限公司（以下简称"公司"或"海天瑞声"）委托，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》"）、《上海证券交易所上市公司自律监管指引第 7 号—回购股份》（以 下简称"《自律监管指引第 7 号》"）等法律法规以及《北京海天瑞声科技股份 有限公司章程》（以下简称"《公司章程》"）的规定，就公司 2024 年度利润 分配所涉及的差异化分红（以下简称"本次差异化分红"）相关事项出具本专项 说明。 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见出具之日 以前已经发生 ...

证券代码：688787 证券简称：海天瑞声 公告编号：2025-020 北京海天瑞声科技股份有限公司 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： 每股现金红利0.35元 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/26 | 2025/6/27 | 2025/6/27 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经北京海天瑞声科技股份有限公司（以下简称"公司"） 2025 年 6 月 6 日的2024年年度股东大会审议通过。 二、 分配方案 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（公 司回购专用证券账户除外）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 是否涉及差异化分红送转：是 每股分配比例 号—— ...

Core Insights - Recently, a new venture capital partnership named Infinite Sailing Haihe (Tianjin) was established with a capital contribution of approximately 140 million yuan [1] - The business scope includes venture capital, private equity investment, investment management, and asset management activities [1] - The company is co-funded by Hangzhou Alibaba Venture Capital Co., Ltd. and Haitan Ruisheng among others [1]