Group 1: Company Operations and Services - The company has developed a C-end operational service system utilizing AI technology, achieving significant progress in employment, medical, and government service scenarios [2][3]. - In the employment sector, the company has created a flexible employment service brand, establishing a "15-minute employment service circle" in parts of Guangdong Province, with plans for expansion in Guangxi [2]. - The medical service "no-sense payment" model has been integrated into nearly 100 medical institutions in Guangzhou, with over 200,000 signed users and a weekly active user count exceeding 60,000 for the "convenient medical payment" mini-program [3]. Group 2: Competitive Advantages - The company has established a comprehensive digital public employment service system in Hubei Province, with plans to replicate this model in other provinces [4]. - Competitive advantages include government resource reliance for G-end services, focusing on key demographics such as blue-collar workers and veterans for C-end services, and providing labor consulting and training for B-end services [4]. Group 3: Financial Performance - In Q1 2025, the company reported revenue of 132.31 million yuan and a net profit of 6.51 million yuan, with a gross margin of 46.33%, reflecting a year-on-year increase of 7.22% [6][7]. - The company anticipates stable growth in the issuance of the third-generation social security cards, participating in nearly 170 cities, maintaining a leading market share [5]. Group 4: Research and Development - The company has over 400 R&D personnel and has recruited more than 30 high-level AI technology talents, with R&D expenditure accounting for 11.69% of revenue [7]. Group 5: Shareholder Returns - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares to shareholders for the 2024 fiscal year, with intentions to enhance shareholder returns in the future [8]. Group 6: Accounts Receivable Management - The company has implemented strict internal policies for accounts receivable management, maintaining positive cash flow from operating activities since 2022, with a focus on preserving cash flow [8].

Company Overview - De Sheng Technology closed at 9.65 yuan, up 2.55%, with a rolling PE ratio of 207.94 times and a total market value of 4.163 billion yuan [1] - The company operates in the software development industry, which has an average PE ratio of 116.83 times and a median of 82.67 times, placing De Sheng Technology at the 169th position in the industry ranking [1][2] - As of Q1 2025, there is one institutional holder of De Sheng Technology, with a total holding of 1.4134 million shares valued at 0.013 billion yuan [1] Business Operations - De Sheng Technology focuses on building a resident service card system and data product system for urban areas, covering social security card issuance, application, and various smart social security services [1] - The company has expanded its services to over 150 prefecture-level cities in China, achieving a coverage rate of over 50% in all prefecture-level cities nationwide [1] Financial Performance - In Q1 2025, De Sheng Technology reported an operating income of 132 million yuan, a year-on-year decrease of 12.75%, and a net profit of 6.5113 million yuan, down 5.19% year-on-year, with a gross profit margin of 46.33% [1]

Core Viewpoint - The company reported a decline in revenue and net profit for 2024 and Q1 2025, but maintains a strong cash flow to support business transformation [1] Financial Performance - In 2024, the company achieved revenue of 658 million yuan, a year-on-year decrease of 21.93%, and a net profit of 20.38 million yuan, down 72.13% [1] - For Q1 2025, revenue was 132 million yuan, a decline of 12.75%, with a net profit of 6.51 million yuan, down 5.19% [1] - The company’s gross margin remained stable, and absolute values of three major expenses (sales, management, R&D) decreased year-on-year [1] Business Transformation - The company is extending its social security card services into areas such as employment, medical services, and government services, aligning with national policies promoting consumer services [1] - The company is focusing on internal cost reduction and efficiency improvements, although the conversion of expenses into performance has been low [1] Social Security Card Services - The decline in the core social security card service is attributed to a shift in government strategy from rapid issuance to a service-driven approach [2] - As of the end of 2024, the number of holders of the third-generation social security card exceeded 500 million, with nearly 900 million cards remaining to be issued [2] Employment Services - The company differentiates itself from traditional HR firms by focusing on government resources and providing services to specific demographics such as blue-collar workers and veterans [3] - The company aims to increase its revenue from human resources operations and big data services, which are expected to contribute over 50% of total revenue in the future [3] Data Element Business - The company won a bid for the operation of the Guangzhou Data Exchange service area and received the first global ISO 55013 certification for data asset management [4] - The company plans to integrate data resources and participate in public data governance, aiming to unlock the value of data elements [4] Mergers and Acquisitions - The company is actively looking for market acquisition opportunities and has previously acquired an internet HR company [4] - Future acquisitions will focus on business synergy and enhancing regional service capabilities, as well as improving R&D strength in AI and data resource utilization [4]

从市场传播看，我们希望市场投资者能对公司更加有信心，在 2024 年年报披露中，针对 2022 年的回购股份公司同步推出了员 工持股计划，经过两年的打磨和转型，公司业务目标更加明确， 实施员工持股计划将充分调动骨干力量的积极性。员工持股计划 中的考核目标，虽不代表公司的业绩承诺，但公司业务团队对达 成目标充满信心。 二、问答环节 问题 1：公司如何看待主营业务社保服务这几年相对下降情况？ 未来几年第三代社保卡（以下简称"三代卡"）的发卡节奏会加 快吗？ 证券代码：002908 证券简称：德生科技 广东德生科技股份有限公司 投资者关系活动记录表 编号：2025-003 | 投资者关系活动类 | 特定对象调研 分析师会议 | | --- | --- | | 别 | □媒体采访 业绩说明会  | | | □新闻发布会 路演活动 | | | 现场参观  其他（电话会议） | | 参与单位名称及人 | 同泰基金、鸿运私募、创富兆业、磐厚资本、明豪能源公司、望 | | 员姓名 | 睿投资、IncTar Cap、九祥资产、广东数联、润桂投资、果行育 | | | 德公司、云众创融、浙商资管、广发证券、东北证券、国 ...

Group 1: Financial Performance - In 2024, the company's total revenue decreased by 21.93% to 658 million yuan, and net profit attributable to shareholders fell by 72.13% to 20.38 million yuan [2] - Despite the decline in overall revenue, the company's AI-driven innovative business revenue is steadily increasing, leading to a recovery in gross margin to 46.33% in Q1 2025 [2] - The net profit attributable to shareholders after deducting non-recurring items increased by 11.10% year-on-year in Q1 2025, indicating positive signals of business structure optimization [2] Group 2: Market Position and Services - The company is a leading player in the third-generation social security card service sector, actively participating in the issuance of social security cards in nearly 170 cities, maintaining a leading market share [2] - The company has developed an "AI Employment Counselor" system, creating a service matrix that includes a gig market system, WeChat mini-program, and employment map, enhancing service efficiency and user experience [3] - The company has achieved a "15-minute employment service circle" in certain areas of Guangdong Province, promoting a shift from extensive coverage to refined operations in public employment services [3] Group 3: Technological Innovations and Collaborations - The company has established a "Credit Medical" system in collaboration with China UnionPay, connecting nearly 100 top-tier hospitals in Guangzhou, with over 2 million signed users [3] - In the smart government sector, the company has built a vertical large model platform that integrates with mainstream models, enhancing operational efficiency in government services [3] - The company has won the world's first ISO 55013 certification for data asset management, indicating its capabilities in data asset management have reached an internationally leading level [4] Group 4: Data Resource Management - The company is positioned to leverage its advantages in public data resource governance as the national public data resource platform is officially launched [4] - The company aims to fully release the value of data elements through its participation in local public data resource governance [4]

智通财经APP获悉，4月28日共有27家上市公司的限售股解禁，解禁总市值约317亿元。 今日具体限售解禁股情况如下： | 股票简称 | 股票代码 | 限售股类型 | 解禁股数 | | --- | --- | --- | --- | | 时代新材 | 600458 | 股权激励限售流通 | 649.44万 | | 中航沈飞 | 600760 | 股权激励限售流通 | 361.77万 | | 中钢天源 | 002057 | 股权激励限售流通 | 424.38万 | | 万讯自控 | 300112 | 股权激励限售流通 | 171.15万 | | 新研股份 | 300159 | 股权激励限售流通 | 540万 | | 吉鑫科技 | 601218 | 股权激励限售流通 | 54.63万 | | 凯龙股份 | 002783 | 股权激励限售流通 | 9.74万 | | 东方精工 | 002611 | 股权激励限售流通 | 88万 | | 星帅尔 | 002860 | 股权激励限售流通 | 30.2万 | | 星光农机 | 603789 | 股权激励限售流通 | 513.57万 | | 口子窖 | 603589 | 股权 ...

Core Insights - The company reported a revenue of 658 million yuan and a net profit of 20.38 million yuan for the year 2024, indicating a proactive transformation towards consumer services amidst cyclical adjustments in traditional To G business demand [1] - The company has established itself as a leading "social security card service provider," participating in the issuance of the third-generation social security cards in nearly 170 cities [1] - The company is focusing on AI-driven solutions to enhance user experience in employment, healthcare, and government services, with initiatives like the "AI Agent" intelligent engine [1][3] Financial Performance - In Q4 2024, the company achieved a quarterly revenue of 244 million yuan, showing significant growth compared to previous quarters, and turned a profit from a loss in net profit [3] - The net cash flow from operating activities reached 217 million yuan in Q4, marking a substantial improvement and setting a new annual high [3] Business Development - The company has launched the "seamless medical payment" model in nearly 100 top-tier hospitals in Guangzhou, with over 2 million signed users, recognized as a highlight in the city's 2025 government work report [2] - The company has successfully won the bid for the operation of the Guangzhou Data Exchange Service Zone and received the world's first "ISO55013 Data Asset Management System Certification" [2] Strategic Focus - The company aims to deepen its layout around "employment + AI," "medical + AI," and "government + AI," reinforcing its leading position in social security and public service sectors [4] - The company plans to enhance its capabilities in AI applications, operational services, and data management to improve service quality and scale [4]

登录新浪财经APP 搜索【信披】查看更多考评等级 （二）2024年2月23日，会计师就2023年度审计工作中遇到的重大事项、关键审计事项、审计报告类型 等向审计委员会进行现场汇报，并就审计委员会委员重点关注的坏账计提、募集资金、收入确认、商誉 减值等事项进行了充分沟通。 （三）2024年4月7日，审计委员会认真听取了致同会计师事务所2023年度审计报告总体情况，认为致同 会计师事务所出具的相关报告真实、客观地反映了公司在经营管理及财务方面的实际情况，审计委员会 审议通过了公司2023年年度报告、2023年度内部控制自我评价报告、2023年度财务决算报告等议案，并 同意提交董事会审议。 （四）2024年4月7日，公司第三届董事会审计委员会第二十次会议，审议通过《关于续聘公司2024年度 审计机构的议案》。审计委员会对致同会计师事务所的执业情况、独立性、专业胜任能力、投资者保护 能力和诚信状况等方面进行了审查，认为致同会计师事务所具备为公司提供审计服务的资质、经验和专 业能力，能够为公司提供真实公允的审计服务，满足公司2024年度审计工作的要求。因此，公司董事会 审计委员会同意续聘致同会计师事务所为公司2024年 ...

Core Viewpoint - The company, Desheng Technology, has established an employee stock ownership plan (ESOP) for 2025, aimed at aligning the interests of employees and shareholders, enhancing corporate governance, and promoting long-term sustainable development [11][12][27]. Group 1: Employee Stock Ownership Plan Overview - The ESOP is based on relevant laws and regulations, including the Company Law and Securities Law, and is designed to be voluntary and compliant [2][12]. - The plan will involve up to 127 participants, including middle management and key employees, excluding directors and senior management [2][16]. - The total number of shares to be held under the plan will not exceed 1.7456 million shares, representing approximately 0.40% of the company's total share capital [3][24]. Group 2: Funding and Stock Source - The funding for the ESOP will come from employees' legal salaries and self-raised funds, with a maximum fundraising limit of 7.733 million yuan, priced at 1.00 yuan per share [5][22]. - The shares will be sourced from the company's repurchased A-shares, with a purchase price set at 4.43 yuan per share [6][25]. Group 3: Lock-up and Vesting Period - The ESOP will have a duration of 36 months, with shares being unlocked in two phases: 50% after 12 months and the remaining 50% after 24 months [5][28]. - The plan includes provisions for extending the duration with the approval of two-thirds of the participants [5][29]. Group 4: Management and Governance - The ESOP will be managed internally by a management committee, which will oversee daily operations and represent the interests of the participants [6][34]. - A holder meeting will serve as the highest authority for decision-making within the ESOP, requiring a majority vote for significant changes [35][39]. Group 5: Performance Assessment - The performance assessment for the ESOP will be based on the company's financial metrics for the years 2025 and 2026, with specific targets for revenue and net profit [31][33]. - Individual performance will also be evaluated, affecting the unlocking of shares for participants [33].

广东德生科技股份有限公司 2025 年员工持股计划管理办法 广东德生科技股份有限公司 二〇二五年四月 第一章 总则 第一条 为规范广东德生科技股份有限公司（以下简称"德生科技""公司" 或"本公司"）2025 年员工持股计划（以下简称"员工持股计划"或"本员工持 股计划"）的实施，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》"）、《关于上市公司实施员工 持股计划试点的指导意见》（以下简称"《指导意见》"）、《深圳证券交易所上市 公司自律监管指引第 1 号——主板上市公司规范运作》（以下简称"《自律监管 指引》"）等相关法律、行政法规、规章、规范性文件和《公司章程》之规定， 特制定本管理办法。 - 2 - 第二章 员工持股计划的制定 第二条 员工持股计划的基本原则 （一）依法合规原则 公司实施员工持股计划，严格按照法律、行政法规的规定履行程序，真实、 准确、完整、及时地实施信息披露。任何人不得利用员工持股计划进行内幕交 易、操纵证券市场等证券欺诈行为。 （二） 自愿参与原则 公司实施的员工持股计划遵循公司自主决定，员工自愿参加的原则，不存 在以摊派、强 ...