Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for seven companies, including Ruiming Technology, which is required to clarify its business model and specifics regarding its AI large model applications [1][2]. Group 1: Supplementary Material Requirements - Ruiming Technology must provide a detailed explanation of its business model and the specific applications of its AI large model, including use cases and functionalities [2]. - The company is also required to clarify its involvement in AI-assisted driving systems, particularly regarding the acquisition and use of geographic information data, and whether its business operations fall within restricted or prohibited foreign investment sectors [2]. - Additionally, Ruiming Technology needs to disclose whether it develops or operates websites, mini-programs, apps, or public accounts, and provide details on the types of information content shared with third parties, as well as user information collection and storage practices [2]. Group 2: Company Solutions and Products - Ruiming Technology's solutions primarily include AI solutions that utilize vision-based AI technology for perception, analysis, and decision-making to enhance driving safety and fleet operational efficiency [2]. - The company also offers video equipment that collects, records, and transmits driving information through cameras and other integrated devices [2].

Group 1 - The China Securities Regulatory Commission (CSRC) issued supplementary material requirements for seven companies, including Ruiming Technology, which must clarify its business model and specifics regarding AI large models [1] - Ruiming Technology submitted its listing application to the Hong Kong Stock Exchange on September 30, with CICC as the sole sponsor [1] - The CSRC requests Ruiming Technology to provide detailed explanations of its business model, AI-assisted driving systems, and compliance with foreign investment restrictions [1][2] Group 2 - Ruiming Technology's solutions include AI solutions that utilize vision-based AI technology for perception, analysis, and decision-making to enhance driving safety and fleet operational efficiency [2] - The company also offers video equipment that collects, records, and transmits driving information through cameras and other integrated devices [2]

证券代码：002970 证券简称：锐明技术 公告编号：2025-089 深圳市锐明技术股份有限公司 关于2022年股票期权激励计划部分股票期权注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 特此公告。 1 深圳市锐明技术股份有限公司 董事会 2025年11月15日 2 深圳市锐明技术股份有限公司（以下简称"公司"）于2025年7月14日召开了第 四届董事会第十三次会议和第四届监事会第十三次会议，于2025年10月22日召开了第 四届董事会第十六次会议分别审议通过了《关于注销2022年股票期权激励计划部分已 授予但尚未行权的股票期权的议案》，鉴于4名获授2022年股票期权激励计划（以下 简称"本次激励计划"）首次授予部分股票期权的激励对象因个人原因已从公司离职， 已不符合激励对象资格条件，公司董事会决定注销上述激励对象已获授但尚未行权的 3.00万份股票期权；鉴于2名获授本次激励计划预留授予第一批次股票期权的激励对 象因已从公司离职，已不符合激励对象资格条件，公司董事会决定注销上述激励对象 已 获授 但尚 未行 权的 0.90 万 份股 票期 权 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company experienced a decline in revenue for Q1-Q3 2025, attributed to a reduction in sales scale and the impact of subsidiaries being excluded from consolidation. The revenue from the subsidiary Shenzhen Technology is expected to be concentrated in the second half of 2024, significantly affecting the Q3 year-on-year growth rate. For Q1-Q3 2025, the company achieved a net profit attributable to shareholders of 274 million yuan, a year-on-year increase of 24.40% [2][5]. - The company is focusing on rapid growth in overseas markets through various strategies, including establishing overseas subsidiaries and offices, increasing the proportion of local employees, and building production facilities in Vietnam. The company has also completed certifications for its products with major domestic export bus manufacturers and is expected to gradually enter the passenger car market [12]. - The company is enhancing its product offerings by integrating AI algorithms with 5G and vehicle networking technologies, transitioning from passive monitoring to proactive warning and intervention systems. This aligns with industry demands for safety and efficiency [12]. Summary by Sections Financial Performance - For Q1-Q3 2025, the company reported total revenue of 1.693 billion yuan, a year-on-year decrease of 11.75%. The net profit attributable to shareholders was 274 million yuan, reflecting a year-on-year increase of 24.40%. In Q3 2025, revenue was 537 million yuan, down 29.86% year-on-year, with a net profit of 71 million yuan, down 26.55% year-on-year [5][12]. Future Outlook - The company anticipates continued growth in the commercial vehicle information sector, with significant room for improvement in market penetration. The expected net profits for 2025-2027 are projected to be 381 million, 495 million, and 667 million yuan, representing year-on-year growth rates of 31%, 30%, and 35%, respectively. The corresponding price-to-earnings ratios are estimated to be 21, 16, and 12 times [12].

证券代码：002970 证券简称：锐明技术 公告编号：2025-088 深圳市锐明技术股份有限公司 关于 2022 年股票期权激励计划预留授予第一批次 第三个行权期采用自主行权模式的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、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： 公司 2022 年股票期权激励计划（以下简称"本次激励计划"）预留授予 第一批次期权简称：锐明 JLC3；期权代码：037311； 本次行权采用自主行权模式； 公司本次激励计划预留授予第一批次第三个行权期实际可行权期限为 2025 年 10 月 31 日起至 2026 年 10 月 23 日止； 本次可行权股票期权若全部行权，公司股份分布仍具备上市条件。 深圳市锐明技术股份有限公司（以下简称"公司"）于 2025 年 10 月 22 日 召开第四届董事会第十六次会议审议通过了《关于 2022 年股票期权激励计划预 留授予第一批次第三个行权期行权条件成就的议案》，根据《上市公司股权激励 管理办法》（以下简称"《管理办法》"）、《深圳市锐明技术股份有限公司 2022 年股票期权激励计划（草案修订稿）》（以下简称 ...

Group 1 - The company is actively monitoring changes in laws and regulations across different regions to identify new business opportunities [1] - The company leverages its years of accumulated product technology capabilities to quickly meet the new demands of customers in various regions [1]

Core Viewpoint - Rui Ming Technology (002970) reported good operational performance and advised investors to refer to the company's regular reports for detailed business progress [1] Group 1 - The company is actively engaging with investors through interactive platforms [1] - The company emphasizes the importance of regular reports for understanding business developments [1]

Core Viewpoint - The company emphasizes the importance of sustainable development and market value performance, aiming for long-term recognition of its value through improved operational efficiency and innovation [1] Group 1: Company Strategy - The company acknowledges that its stock price is influenced by macroeconomic factors, policy environment, and market sentiment [1] - To enhance shareholder value and investor confidence, the company has initiated stock option incentive plans and employee stock ownership plans for 2025 [1] - The company plans to continue its dividend distribution according to the "2025-2027 Three-Year Shareholder Dividend Return Plan" [1] Group 2: Market Communication - The company aims to strengthen market value management and establish good communication with the capital market through legal and compliant methods [1] - The management is committed to actively returning the support of shareholders and sharing development results [1]

Group 1 - The company Rui Ming Technology (002970) confirmed that its official website is operating normally in response to investor inquiries on October 24 [1]

Market Overview - On October 24, the computer equipment sector rose by 2.05%, led by Aerospace Intelligence [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Aerospace Intelligence (300455) saw a closing price of 19.76 with a significant increase of 19.98% and a trading volume of 311,100 shares, amounting to a transaction value of 614 million [1] - Weihong Co., Ltd. (300508) closed at 31.98, up 12.61%, with a trading volume of 94,300 shares [1] - Dahua Intelligent (002512) closed at 4.46, up 10.12%, with a trading volume of 672,500 shares [1] - Other notable performers include Langke Technology (300042) with an 8.93% increase and a closing price of 33.18, and Jiayuan Technology (301117) with a 7.96% increase and a closing price of 43.25 [1] Capital Flow - The computer equipment sector experienced a net inflow of 1.494 billion in main funds, while retail funds saw a net outflow of 575 million [2] - The main funds' net inflow for Zhongke Shuguang (603019) was 914 million, accounting for 12.96% of the total, while retail funds had a net outflow of 578 million [3] - Dahua Intelligent (002512) had a main fund net inflow of 139 million, representing 46.50% of the total, with retail funds experiencing a net outflow of 64.93 million [3]