Core Viewpoint - The announcement details the share transfer agreements between major stakeholders of Taiji Co., Ltd. and a wholly-owned subsidiary of China Electronics, indicating a strategic move in ownership structure [1] Group 1: Share Transfer Agreements - The controlling shareholder, Zhongdian Taiji (Group) Co., Ltd., plans to transfer 19.1567 million shares, representing 3.0738% of the total share capital, to Zhongdian Jintou Holdings Co., Ltd. at a price of 8.41 yuan per share [1] - Additionally, Zhongdian Ke Investment Holdings Co., Ltd. will transfer 9.7756 million shares, accounting for 1.5685% of the total share capital, to Zhongdian Jintou at the same price of 8.41 yuan per share [1]

太极股份公告，中电太极拟通过非公开协议转让方式向中电金投转让持有的公司1915.67万股无限售流 通普通股股份，占公司总股本的3.0738%，每股转让价格为人民币8.41元；电科投资拟通过非公开协议 转让方式向中电金投转让持有的公司977.56万股无限售流通普通股股份，占公司总股本的1.5685%，每 股转让价格为人民币8.41元。 ...

Group 1 - The core point of the news is that Taiji Co., Ltd. announced a share transfer agreement involving its controlling shareholder, China Electronics Taiji Group Co., Ltd., and its affiliate, China Electronics Investment Holdings Co., Ltd., with a total of approximately 2.894 million shares being transferred at a price of RMB 8.41 per share [1] - The share transfer represents 3.0738% of the total share capital for Taiji Co., Ltd. from China Electronics Taiji and 1.5685% from China Electronics Investment [1] - For the first half of 2025, Taiji Co., Ltd.'s revenue composition was 46.13% from enterprises, 40.23% from government agencies, 10.21% from public institutions, and 3.43% from other industries [1] Group 2 - As of the report, the market capitalization of Taiji Co., Ltd. is RMB 15.6 billion [2]

太极计算机股份有限公司 关于控股股东及其一致行动人协议转让股份的提示性公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示： 1.太极计算机股份有限公司（以下简称"公司"）于近日收到控股股东中电太极（集团） 有限公司（以下简称"中电太极"）及其一致行动人中电科投资控股有限公司（以下简称"电 科投资"）通知，中电太极于 2025 年 11 月 8 日与中国电子信息产业集团有限公司（以下简 称"中国电子"）全资子公司中电金投控股有限公司（以下简称"中电金投"）签署了《中 电太极（集团）有限公司与中电金投控股有限公司之股份转让协议》（以下简称《转让协议 一》），中电太极拟通过非公开协议转让方式向中电金投转让持有的公司 19,156,668 股无限 售流通普通股股份，占公司总股本的 3.0738%，每股转让价格为人民币 8.41 元； 电科投资 于 2025 年 11 月 8 日与中电金投签署了《中电科投资控股有限公司与中电金投控股有限公司 之股份转让协议》（以下简称《转让协议二》），电科投资拟通过非公开协议转让方式向中 电金投转让持有的公司 9,775, ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company reported a revenue of 4.865 billion yuan for the first three quarters of 2025, representing a year-over-year increase of 12.15%. However, the net profit attributable to shareholders was only 4 million yuan, showing a significant decline compared to the previous year [6] - The subsidiary, Electric Science and Technology JinCang, experienced strong growth, with new contract amounts increasing by over 100% year-over-year and revenue growth of nearly 50% [6] - The company has effectively controlled expenses, resulting in a significant reduction in management costs by over 100 million yuan year-over-year [6] - The overall gross margin has faced pressure, decreasing to 26.74% from 28.95% year-over-year, while operating cash flow remains negative at -1.809 billion yuan [6] - The company is increasing its investment in research and development, with R&D expenses reaching 174 million yuan, a year-over-year increase of 67.3% [6] - The company has signed contracts worth nearly 3 billion yuan in the "信创" (Xinchuang) business, which supports the sales of its core products [6] - The revenue forecasts for 2025-2027 are 8.152 billion, 9.158 billion, and 10.646 billion yuan, respectively, with net profits projected at 235 million, 325 million, and 478 million yuan [6] Financial Data and Profit Forecast - Total revenue for 2025 is estimated at 8.152 billion yuan, with a year-over-year growth rate of 4.0% [5] - The net profit attributable to shareholders is projected to be 235 million yuan for 2025, reflecting a year-over-year increase of 22.9% [5] - The earnings per share (EPS) is expected to be 0.38 yuan for 2025, with a projected price-to-earnings (P/E) ratio of 68 [5] - The gross margin is forecasted to be 25.0% for 2025, with a return on equity (ROE) of 4.3% [5]

Core Viewpoint - The stock price of Taiji Co., Ltd. has experienced fluctuations, with a recent decline of 2.00% on November 5, 2023, reflecting a broader trend of volatility in its share performance over the past weeks [1]. Financial Performance - For the period from January to September 2025, Taiji Co., Ltd. reported a revenue of 4.865 billion yuan, representing a year-on-year growth of 12.15% [2]. - The net profit attributable to shareholders for the same period was 4.0465 million yuan, showing a significant increase of 114.31% compared to the previous year [2]. Shareholder Information - As of October 31, 2025, the number of shareholders for Taiji Co., Ltd. was 55,400, which is a decrease of 0.52% from the previous period [2]. - The average number of circulating shares per shareholder increased by 0.53% to 11,193 shares [2]. Dividend Distribution - Since its A-share listing, Taiji Co., Ltd. has distributed a total of 1.191 billion yuan in dividends, with 284 million yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 8.8238 million shares, a decrease of 1.4159 million shares from the previous period [3]. - The Southern CSI 1000 ETF (512100) ranked as the ninth largest circulating shareholder, holding 3.9919 million shares, down by 33,500 shares from the previous period [3].

Group 1 - The company, Taiji Co., Ltd. (002368), reported that as of October 31, 2025, the number of its shareholders is 55,428 [1]

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Insights - The company achieved a revenue of 4.865 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 12.15%. The net profit attributable to the parent company was 4.0465 million yuan, showing improvement compared to the previous year [1]. - The database business is experiencing continuous growth, with the domestic business expected to accelerate. The company has optimized its expense ratios, with sales and management expense ratios at 4.80% and 16.74%, respectively, both lower than the same period in 2024. R&D investment has increased, with the R&D expense ratio improving year-on-year [2]. - The company has made significant strides in the financial sector, securing important orders that demonstrate its capabilities. The ComStar project, which involves a high-performance database system for financial transactions, has shown efficiency improvements of nearly three times in certain scenarios compared to the previous system [2]. - The company is leveraging the AI trend, launching the "Luoshu Intelligent Hub," which integrates AI capabilities with business intelligence functions. This platform aims to enhance intelligent data analysis and support various business scenarios [3]. Financial Forecasts - The company forecasts revenues of 9.039 billion yuan in 2025, with a growth rate of 15.4%. The net profit attributable to the parent company is expected to be 305 million yuan, reflecting a growth rate of 59.8% [5][9]. - The projected earnings per share for 2025 is 0.49 yuan, with a price-to-earnings (PE) ratio of 55 [5][10]. - The company anticipates continued growth in net profit, with estimates of 409 million yuan in 2026 and 531 million yuan in 2027, corresponding to PE ratios of 41 and 32, respectively [4][5].

Core Insights - Taiji Technology, established in 1987 and listed in 2010, is a leading digital service provider in China with comprehensive digital service capabilities and extensive industry experience [1] Group 1: Business Performance - For Q3 2025, Taiji Technology reported revenue of 4.865 billion yuan, ranking 15th in the industry, surpassing the industry average of 2.833 billion yuan but significantly behind the top competitors [2] - The net profit for the same period was 11.4292 million yuan, ranking 57th in the industry, below the average of 25.9607 million yuan [2] Group 2: Financial Ratios - The asset-liability ratio stood at 63.48%, a decrease from 65.75% year-on-year but still above the industry average of 38.93% [3] - The gross profit margin was 26.74%, lower than the industry average of 29.96% [3] Group 3: Executive Compensation - The president, Zhong Kai, received a salary of 1.1567 million yuan in 2024, an increase of 192,800 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.21% to 54,800, while the average number of shares held per shareholder increased by 0.21% to 11,300 [5] - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with both reducing their holdings [5] Group 5: Strategic Outlook - The company is in a strategic transformation phase, with increased investments leading to short-term profit pressure, but overall performance is on a recovery path [5] - Key highlights include nearly 3 billion yuan in contracts signed driven by the acceleration of the "Xinchuang" initiative and significant growth in AI-related projects [5][6] - The company’s revenue forecast for 2025-2027 is adjusted to 316 million, 428 million, and 495 million yuan respectively, maintaining a strong recommendation rating [5][6]

Core Insights - The company is experiencing short-term profit pressure due to increased investments during its strategic transformation, but overall performance is steadily recovering [1][2] - The company reported a revenue of 4.865 billion yuan for the first three quarters, a year-on-year increase of 12.15%, while the net profit attributable to shareholders was 4 million yuan, up 114.31% year-on-year [1][2] - In Q3 alone, the company generated a revenue of 1.083 billion yuan, a year-on-year decline of 37.18%, and a net profit of -600,000 yuan, down 104.29% year-on-year [1][2] Financial Performance - For the first three quarters, the company achieved an operating cash flow of -1.809 billion yuan, a year-on-year decrease of 13.22% [1] - The company’s R&D expense ratio increased by 4.50 percentage points year-on-year due to heightened investments in databases, data elements, and artificial intelligence [2] Strategic Developments - The company has signed contracts nearing 3 billion yuan driven by the acceleration of the "信创" initiative, with new contracts for the "金仓" project doubling compared to the previous year [2] - The company is actively participating in various AI projects and has launched products such as a trusted data space and a low-code development platform, contributing to a strong start in data and intelligent business [2] Investment Outlook - The company maintains a "strong buy" investment rating, with projected net profits attributable to shareholders of 316 million yuan, 428 million yuan, and 495 million yuan for the years 2025 to 2027 [3]