Group 1 - Recently, Runzhi (Liuzhou) Data Technology Co., Ltd. was established with a registered capital of 10 million yuan [1] - The company's business scope includes artificial intelligence public service platform technology consulting services, Internet of Things technology services, integrated circuit sales, and intelligent unmanned aerial vehicle sales [1] - Runzhi is wholly owned by Runjian Co., Ltd. (002929) [1]

Core Viewpoint - Runjian Co., Ltd. has established a new data technology company, indicating a strategic expansion into AI and IoT sectors [1] Group 1 - Runjian (Liuzhou) Data Technology Co., Ltd. has been founded with a registered capital of 10 million yuan [1] - The business scope of the new company includes services related to artificial intelligence public service platform technology consulting, IoT technology services, integrated circuit sales, and sales of intelligent unmanned aerial vehicles [1] - Runjian Co., Ltd. holds 100% ownership of the newly established data technology company [1]

Core Insights - Recently, Runzhi (Liuzhou) Data Technology Co., Ltd. was established with a registered capital of 10 million RMB, focusing on various technology services including information system integration and AI consulting [1][2] Company Information - The legal representative of the company is Li Qunwei, and it is wholly owned by Runjian Co., Ltd. (002929) [1][2] - The company is classified as a limited liability company and operates in the software and information technology services industry [2] Business Scope - The business scope includes information system integration services, software development, internet data services, data processing and storage support services, AI public service platform technical consulting, IoT technology services, information system operation and maintenance services, and 5G communication technology services [1][2]

Core Insights - The 22nd China-ASEAN Expo and the 2025 China (Guangxi)-ASEAN AI Application Ecological Exchange Conference took place in Nanning, focusing on AI applications in education [1] - Runjian Co., as a key participant, has developed a mature digital education solution through five years of experience in over a thousand schools across China [1][3] Group 1: AI in Education - The "AI + Education" forum highlighted various AI application cases aimed at ASEAN, with significant contributions from multiple universities [1] - Runjian Co. entered the Malaysian education market around 2021, leveraging its experience in digital education to enhance local educational infrastructure [3] - The company is collaborating with Malaysian educational authorities to create a "digital professor" AI application for campus teaching [3] Group 2: Customization and Local Adaptation - Runjian Co. emphasizes user perspective and customized delivery, aligning with ASEAN clients' expectations for technology transfer and capacity building [5] - The company adheres to local data security and content regulations, customizing solutions based on local curricula rather than simply replicating domestic models [3][5] - The demand for digital and AI talent in Southeast Asia is increasing, with Runjian's projects contributing to local employment [3] Group 3: Long-term Partnerships and Business Expansion - Runjian Co. has established stable partnerships in ASEAN through long-term service and support, creating a positive cycle of cost reduction and enhanced client profitability [5] - Since 2019, the company has expanded its overseas operations, establishing 24 computing centers in Malaysia and Indonesia, covering various sectors including smart education [5] - Future competition will focus on industry data assets and application rules, with Chinese companies positioned to help clients accelerate their digital transformation [5]

Core Viewpoint - Recently, Chongqing Runshang New Energy Co., Ltd. was established, focusing on various aspects of the new energy sector, including battery manufacturing [1] Group 1: Company Overview - Chongqing Runshang New Energy Co., Ltd. has a registered capital of 10 million yuan [1] - The legal representative of the company is Yu Liangliang [1] - The company is jointly held by Runjian Co., Ltd. (002929) and Hainan Yuhai Xiahua International Trade Co., Ltd. [1] Group 2: Business Scope - The business scope includes thermal power production and supply, wind power generation technology services, battery sales, photovoltaic equipment and components manufacturing, centralized fast charging stations, and battery manufacturing [1]

Group 1 - A new company, Chongqing Runshang New Energy Co., Ltd., has been established with a registered capital of 10 million yuan [1] - The legal representative of the company is Yu Liangliang [1] - The business scope includes heat production and supply, wind power generation technology services, battery sales, photovoltaic equipment and components manufacturing, centralized fast charging stations, and battery manufacturing [1] Group 2 - The company is jointly held by Runjian Co., Ltd. (002929) through its wholly-owned subsidiary Runjian Smart Energy Co., Ltd. and Hainan Yuhai Xiahua International Trade Co., Ltd. [1]

Core Insights - The 2025 China (Guangxi) - ASEAN Artificial Intelligence Application Ecological Exchange Conference was held in Nanning, showcasing over 30 cross-border AI cooperation achievements and more than 50 cooperation agreements, exemplifying the implementation of the national strategy "AI+" [1][3] - The conference adopted a "1+4+1+N" model, including one main forum, four industry sub-forums, one AI innovation application exhibition area, and multiple closed-door meetings to discuss new technologies, new business formats, and new models, aiming to shift the industry towards high-end value chains and innovation-driven growth [1][3] AI Cooperation and Products - Key products and platforms promoting China-ASEAN AI cooperation were launched, including the "Xingkuang Cloud Pool" inclusive computing power platform, AITIR recording translation card for multilingual real-time translation, Malaysia's smart palm oil management platform, and the National Robotics Exchange (NRX) platform for AI talent exchange [3] - Four industry forums focused on AI education, intelligent operations, AI agriculture, and AI healthcare, where experts discussed industry pain points and innovative integration [3] AI Innovation Exhibition - The 500-square-meter AI innovation application exhibition area became a highlight of the conference, featuring four experience zones that showcased human-machine collaboration, the Quchi AI open platform, ecological partners, and the latest AI technologies and application cases from ASEAN countries [5] - Over 40 ecological partners and representatives from ASEAN countries displayed cross-border cooperation achievements in the exhibition area [5] Future Directions - The conference is a significant initiative for Guangxi to deepen AI cooperation with ASEAN and respond to the national "AI+" action plan, with plans to enhance computing power support, technology output, and ecological co-construction [7] - Guangxi aims to play a pivotal role in China-ASEAN cooperation, promoting inclusive development of "AI+" across broader regions and injecting new momentum into the construction of the "Digital Silk Road" [7]

Group 1 - The stock price of Runjian Co., Ltd. dropped by 2.01% on September 19, closing at 49.62 yuan per share, with a trading volume of 4.13 billion yuan and a market capitalization of 14.096 billion yuan [1] - Year-to-date, the stock price has increased by 48.16%, but it has seen a decline of 5.31% over the last five trading days and a slight decrease of 0.72% over the last 20 days [1] - Runjian Co., Ltd. has appeared on the "Dragon and Tiger List" seven times this year, with the most recent appearance on February 25, where it recorded a net purchase of 87.1036 million yuan [1] Group 2 - Runjian Co., Ltd. was established on January 3, 2003, and went public on March 1, 2018. Its main business includes communication network construction services, maintenance, and optimization [2] - The revenue composition of Runjian Co., Ltd. is as follows: communication network business 43.57%, energy network business 27.36%, information network business 21.90%, computing network business 7.10%, and others 0.07% [2] - As of August 8, 2025, the number of shareholders of Runjian Co., Ltd. was 47,200, an increase of 0.78% from the previous period, with an average of 4,465 circulating shares per shareholder, a decrease of 0.77% [2] Group 3 - Runjian Co., Ltd. has distributed a total of 323 million yuan in dividends since its A-share listing, with 165 million yuan distributed in the last three years [3] Group 4 - As of June 30, 2025, the top ten circulating shareholders of Runjian Co., Ltd. include several new institutional investors, such as GF Value Core Mixed Fund and GF Small Cap Growth Mixed Fund, which are now among the top shareholders [4] - The Hong Kong Central Clearing Limited has reduced its holdings by 195,650 shares compared to the previous period [4]

Core Viewpoint - Runjian Co., Ltd. plans to register and issue non-financial corporate debt financing instruments in the interbank bond market, with a total amount not exceeding RMB 6 billion, to meet funding needs for computing power and optimize its debt structure [9][10][18]. Group 1: Board Meeting Resolutions - The fifth board meeting on September 17, 2025, approved the proposal to register and issue debt financing tools [1][9]. - The board meeting had 9 directors present, and all voted in favor of the proposal [4]. - The proposal requires approval from the shareholders' meeting [3][17]. Group 2: Debt Financing Tool Details - The issuance will include short-term financing bonds up to RMB 3 billion and medium-term notes up to RMB 3 billion [9][10]. - The short-term financing bonds will have a maturity of no more than 1 year, while the medium-term notes will have a maturity of no more than 10 years [10]. - The funds raised will be used for infrastructure investments, debt repayment, working capital, and other approved uses [12][18]. Group 3: Shareholders' Meeting - The fourth extraordinary shareholders' meeting is scheduled for October 13, 2025, at 14:30 in Guangzhou [5][21]. - The meeting will combine on-site and online voting methods [25][26]. - Shareholders must register by September 29, 2025, to participate in the meeting [27][28].

Core Viewpoint - Runjian Co., Ltd. plans to issue non-financial corporate debt financing instruments in the interbank bond market, with a total amount not exceeding 6 billion RMB [2]. Group 1 - The company will hold the 25th meeting of the fifth board of directors on September 17, 2025, to review the proposal for the bond issuance [2]. - The proposed issuance includes short-term financing bonds and medium-term notes [2]. - The matter requires approval from the company's shareholders' meeting [2].