Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company is leading enterprises towards a digital-native transformation by upgrading its product thinking and driving software development through an "upgrade" paradigm, having initiated the "Smart+" strategy in 2015 and the Athena platform development in 2019 [2][3] - The company has developed a new driving force for digital intelligence, covering five major areas: R&D design, production manufacturing, quality control, business management, and after-sales service [2] - The AI suite includes a comprehensive data management stack, enterprise AI generation suite, integration of AI into ERP, PLM, MES, and WMS systems, and an AIoT command center, showcasing the company's capabilities in digital transformation [3] Financial Projections - Revenue projections for 2025, 2026, and 2027 are estimated at 2.658 billion, 3.051 billion, and 3.576 billion respectively, with year-on-year growth rates of 14.0%, 14.8%, and 17.2% [4][6] - Earnings per share (EPS) are projected to be 0.73, 0.91, and 1.14 for the years 2025, 2026, and 2027 respectively [4][6] - The price-to-earnings (PE) ratios corresponding to the closing price on June 27 are 48.87, 39.07, and 31.40 for the years 2025, 2026, and 2027 respectively [4][6]

Investment Rating - The report maintains an "Outperform" rating for the company with a target price of RMB 46.70 [5][11]. Core Insights - The company is expected to achieve EPS of RMB 0.72, RMB 0.90, and RMB 1.14 for the years 2025, 2026, and 2027 respectively, reflecting strong growth potential [5][11]. - The report highlights the company's strong AI integration capabilities and its recent breakthroughs in AI solutions, which are expected to enhance its operational efficiency and market position [12][13][14]. Financial Summary - The company's projected revenue for 2025 is RMB 2,658 million, with a growth rate of 14.0% compared to 2024 [3][7]. - Net profit attributable to the parent company is expected to reach RMB 195 million in 2025, representing a 25.3% increase from 2024 [3][6]. - The projected PE ratio for 2025 is 44.57, with a valuation premium applied due to the company's strong market position [5][11]. Revenue Breakdown - The company's total revenue is expected to grow from RMB 2,331 million in 2024 to RMB 2,658 million in 2025, with a gross margin improvement from 58% to 61% [7]. - The technical services segment is projected to generate RMB 1,258.50 million in revenue for 2025, with a gross margin of 55% [7]. Market Position and Strategy - The company aims to create an AI+ era through its innovative framework of "one model, two cores, three intelligent agents," which integrates physical and digital worlds [12][14]. - Collaborations with partners like Huawei Cloud are emphasized as crucial for building an inclusive AI service ecosystem, enhancing the company's competitive edge in the digital economy [14].

经审核，监事会认为：本次对 2021 年股票期权与限制性股票激励计划限制 性股票授予价格的调整符合《上市公司股权激励管理办法》及公司《2021 年股票 期权与限制性股票激励计划（草案修正案）》的相关规定，不存在损害公司股东 利益的情形。 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）的 相关公告。 表决结果：3 票同意，0 票反对，0 票弃权。 证券代码：300378 证券简称：鼎捷数智 公告编码：2025-06056 鼎捷数智股份有限公司 第五届监事会第十五次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完 整，不存在虚假记载、误导性陈述或者重大遗漏。 鼎捷数智股份有限公司（以下简称"公司"）第五届监事会第十五次会议通 知已于 2025 年 6 月 17 日以邮件、电话确认方式发出。会议于 2025 年 6 月 24 日 以通讯方式在公司会议室举行。会议应出席监事 3 名，实际出席监事 3 名。董事 会秘书列席了本次会议。本次会议由监事会主席皮世明先生召集并主持。会议的 召开符合有关法律、行政法规、部门规章、规范性文件和《鼎捷数智股份有限公 司章 ...

鼎捷数智股份有限公司 第五届董事会第十六次会议决议公告 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。 证券代码：300378 证券简称：鼎捷数智 公告编码：2025-06055 鼎捷数智股份有限公司（以下简称"公司"）第五届董事会第十六次会议通 知已于 2025 年 6 月 17 日以邮件、电话确认方式发出。会议于 2025 年 6 月 24 日 13 时 30 分以通讯方式在公司会议室举行。会议应出席董事 9 名，实际出席董事 9 名。本次董事会会议由公司董事长叶子祯先生召集并主持，公司监事、高级管 理人员列席了本次会议。会议的召开符合有关法律、行政法规、部门规章、规范 性文件和《鼎捷数智股份有限公司章程》的规定。经与会董事认真审议，做出如 下决议： 一、审议通过《关于调整公司 2021 年股票期权与限制性股票激励计划相关 事项的议案》 特此公告。 鼎捷数智股份有限公司 董事会 二〇二五年六月二十五日 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）的 相关公告。 关联关系：董事叶子祯先生、张苑逸女士、刘波先生为公司 ...

证券代码：300378 证券简称：鼎捷数智 公告编码：2025-06057 鼎捷数智股份有限公司 关于调整公司 2021 年股票期权与限制性股票激励 计划相关事项的公告 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。 鼎捷数智股份有限公司（以下简称"公司"）于 2025 年 6 月 24 日召开第五 届董事会第十六次会议、第五届监事会第十五次会议，审议通过了《关于调整公 司 2021 年股票期权与限制性股票激励计划相关事项的议案》，现将相关事项说 明如下： 一、本次股权激励计划已履行的相关审批程序 1、2021 年 2 月 1 日，公司第四届董事会第八次会议审议通过了《关于公司 <2021 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2021 年限 制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会 办理公司 2021 年限制性股票激励计划相关事项的议案》，公司第四届监事会第 七次会议审议通过了相关议案。公司独立董事就公司 2021 年股票期权与限制性 股票激励计划（以下简称"本激励计划")是否有利于公司的持续发展及是否存 在 ...

关于鼎捷数智股份有限公司 调整 2021 年股票期权与限制性股票激励计划 限制性股票授予价格的法律意见书 北京市朝阳区建外大街甲 14 号广播大厦 5/9/10/13/17 层 电话：010-65219696 传真：010-88381869 法律意见书 北京海润天睿律师事务所 二〇二五年六月 法律意见书 北京海润天睿律师事务所 关于鼎捷数智股份有限公司 调整 2021 年股票期权与限制性股票激励计划 限制性股票授予价格的法律意见书 致：鼎捷数智股份有限公司 北京海润天睿律师事务所（以下简称"本所"）受鼎捷数智股份有限公司（以 下简称"鼎捷数智"、"公司"）的委托，担任鼎捷数智 2021 年股票期权与限 制性股票激励计划事项（以下简称"本次激励计划"、"本激励计划"）的专项 法律顾问。本所根据《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》"）、中国证券监督管理委 员会《上市公司股权激励管理办法》（以下简称"《激励管理办法》"）等有关 法律、法规及规范性文件的规定，本所现就调整本次激励计划限制性股票授予价 格事项（以下简称"本次调整"）出具本法律意见书。 在出 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [4][19]. Core Insights - The company is positioned as a key player in the AI-driven transformation of industries, showcasing its innovative capabilities at the recent summit [2][9]. - The collaboration between government, industry, and academia is seen as a strategic move to enhance technological innovation and create a robust ecosystem for digital economy development [3][9]. - The company has introduced various AI solutions aimed at enhancing productivity and operational efficiency, reflecting its commitment to leveraging AI as a new engine of productivity [8][9]. Financial Summary - Projected revenue growth from 2025 to 2027 is expected to reach CNY 25.75 billion, CNY 28.90 billion, and CNY 33.08 billion respectively, with corresponding net profits of CNY 2.02 billion, CNY 2.31 billion, and CNY 2.86 billion [9]. - The company's earnings per share (EPS) are forecasted to increase from CNY 0.75 in 2025 to CNY 1.06 in 2027, reflecting a strong growth trajectory [9]. - The price-to-earnings (P/E) ratio is projected to decline from 45.3x in 2025 to 32.0x in 2027, indicating potential value appreciation as earnings grow [9].

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company is focusing on AI infrastructure development, aiming to enhance enterprise AI application density and productivity [6][7] - The AI software suite is expected to lower the barriers for enterprise-level AI agent implementation, thereby increasing market opportunities [7] - The company anticipates significant revenue growth driven by AI applications, with projected revenue increases of 14.8%, 16.6%, and 16.1% for 2025-2027 [9] Financial Data Summary - Total revenue is projected to reach 26.77 billion, 31.22 billion, and 36.23 billion yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 14.8%, 16.6%, and 16.1% [9][10] - Net profit is expected to be 2.05 billion, 2.53 billion, and 3.17 billion yuan for the same years, reflecting growth rates of 31.4%, 23.9%, and 25.3% [9][10] - The company’s gross margin is projected to decline from 58.3% in 2024 to 53.7% by 2027 [10]

Core Insights - The company maintains a "Buy" rating with a target price of 46.70 yuan, projecting EPS for 2025-2027 to be 0.72, 0.90, and 1.14 yuan respectively, and applying a 65x PE for 2025 due to its strong application capabilities in AI integration [2][3] Group 1: Event Overview - The fourth Smart Future Summit was held on June 19 in Wuhan, focusing on exploring the frontiers of the digital economy with the theme "AI Transformation: Breaking Boundaries for Growth" [2][3] - The company introduced the concept of "one model, two cores, and three types of intelligent agents" to envision future operational modes [2] Group 2: AI Solutions and Innovations - Multiple AI solutions were launched, including the Smart Data Suite and Enterprise Intelligent Agent Generation Suite, which are key components of the Athena platform aimed at facilitating AI infrastructure [3] - The integration of smart suites into four major industrial software aims to automate data production, enhance process intelligence, and enable real-time knowledge creation [3] Group 3: Strategic Partnerships - The company collaborates with ecosystem partners like Huawei Cloud to build an AI-inclusive service system, emphasizing the importance of ecological collaboration for business breakthroughs [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][4][14] Core Views - The company is a leading provider of digital transformation and smart manufacturing solutions in China, expected to benefit from downstream recovery and overseas opportunities, with AI opening up growth potential [4][7] - The company hosted the 2025 Digital Future Summit, focusing on AI-driven business innovation and productivity enhancement [5] - AI commercialization has begun to show results, with a 135.07% year-on-year increase in AI business revenue in Taiwan in 2024, and the introduction of AI-integrated products enhancing customer value [7] Financial Summary - The company forecasts net profits for 2025-2027 to be 201 million, 240 million, and 289 million yuan respectively, with EPS projected at 0.74, 0.88, and 1.07 yuan per share [4][9] - Revenue is expected to grow from 2,228 million yuan in 2023 to 3,581 million yuan in 2027, reflecting a compound annual growth rate (CAGR) of approximately 16.6% [9][11] - The company's gross margin is projected to stabilize around 60% from 2025 onwards, with net profit margin improving to 8.2% by 2027 [9][11] Product and Innovation - The company launched an AI infrastructure suite to assist enterprises in finding effective AI applications, showcasing its capabilities in integrating AI across various operational scenarios [6] - The introduction of AI-driven software solutions, including ERP and PLM systems, demonstrates the company's commitment to enhancing its product offerings through AI [6][7]