Core Points - The company announced that its chairman and general manager, Lei Hongwen, reduced his shareholding by selling 4.02 million shares, which accounts for 0.6020% of the company's total shares [1] - The shares were sold at a price range of 7.31 to 7.49 yuan per share, and the reduction plan has been fully implemented [1] - After the reduction, Lei Hongwen's total shareholding decreased to 26.2603 million shares, representing 3.9325% of the company's total shares [1]

Core Viewpoint - Haoyun Technology's stock has shown a positive trend with a year-to-date increase of 15.75%, reflecting strong market performance despite a recent net outflow of funds [1][2]. Financial Performance - For the period from January to September 2025, Haoyun Technology achieved a revenue of 322 million yuan, representing a year-on-year growth of 30.01% [2]. - The company reported a net profit attributable to shareholders of -23.63 million yuan, a significant decrease of 378.38% compared to the previous period [2]. Stock Market Activity - As of November 5, Haoyun Technology's stock price was 7.59 yuan per share, with a market capitalization of 5.135 billion yuan [1]. - The stock experienced a trading volume of 31.25 million yuan, with a turnover rate of 0.65% [1]. - Over the last five trading days, the stock price increased by 3.55%, and it has risen by 9.68% over the past 20 days [1]. Shareholder Information - As of September 30, the number of shareholders for Haoyun Technology was 39,300, a decrease of 12.71% from the previous period [2]. - The average number of circulating shares per shareholder increased by 58.47% to 16,358 shares [2]. Business Overview - Haoyun Technology, established on March 8, 2001, and listed on April 24, 2015, specializes in financial security system design, integration, and operation services, along with related software and hardware products [1]. - The company's main revenue sources include low-code platform and IoT platform construction and solutions (95.45%), IoT device and software sales (3.51%), and leasing income (1.05%) [1]. Dividend Information - Since its A-share listing, Haoyun Technology has distributed a total of 180 million yuan in dividends, with 54.22 million yuan distributed over the past three years [3].

Group 1 - The company, Haoyun Technology, announced a joint investment of 32.8 million RMB to establish Huayun Smart Energy Technology (Wuhan) Co., Ltd. in Wuhan, Hubei Province [2] - The new company's main business scope will include technical services, technology development, and research and development of energy-efficient technologies in the power industry [2] - Haoyun Technology was founded on March 8, 2001, with a registered capital of 676.52 million RMB and is headquartered in Guangzhou [2] Group 2 - In terms of financial performance, the company's operating revenues for 2022, 2023, 2024, and the first three quarters of 2025 were 447 million RMB, 365 million RMB, 344 million RMB, and 322 million RMB, reflecting year-on-year changes of -20.84%, -18.36%, -5.64%, and 30.01% respectively [3] - The company's net profit attributable to shareholders for the same periods were 20.66 million RMB, -58.69 million RMB, -35.12 million RMB, and -23.63 million RMB, with year-on-year growth rates of 41.08%, -384.04%, 40.16%, and -378.38% respectively [3] - The company's asset-liability ratios for the same periods were 7.63%, 7.38%, 9.20%, and 4.94% [3]

证券代码：300448 证券简称：浩云科技 公告编号：2025-051 浩云科技股份有限公司 关于投资设立控股子公司暨关联交易进展的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 一、关于投资设立控股子公司暨关联交易事项概述 2025 年 10 月 24 日，浩云科技股份有限公司（以下简称"公司"）召开第六 届董事会独立董事第一次专门会议、第六届董事会审计委员会第六次会议、第 六届董事会第五次会议审议通过了《关于投资设立控股子公司暨关联交易的议 案》，同意公司与高洁芬、邓伟、武汉华中科大资产管理有限公司、华智热工科 技（佛山）有限公司签订出资协议书，共同出资 3,280.00 万元人民币在湖北省 武汉市设立华云智慧能源科技（武汉）有限公司，具体内容详见公司于 2025 年 10 月 25 日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于投资设立 控股子公司暨关联交易的公告》（公告编号：2025-048）。 二、关于投资设立控股子公司暨关联交易的进展情况 3、类型：其他有限责任公司 4、法定代表人：高洁芬 5、住所：湖北省武汉 ...

Group 1 - A new company named Huayun Smart Energy Technology (Wuhan) Co., Ltd. has been established with a registered capital of 32.8 million yuan [2] - The legal representative of the company is Gao Jiefen, and its business scope includes engineering and technology research and development, as well as energy-efficient technology research in the electric power industry [2] - The shareholders of the company include Haoyun Technology (300448) and Wuhan Huazhong University of Science and Technology Asset Management Co., Ltd. [2]

Group 1 - Recently, Huayun Smart Energy Technology (Wuhan) Co., Ltd. was established, focusing on the manufacturing of new energy power equipment, electronic special equipment manufacturing, and sales of electrical facility materials [1] - The company is jointly held by Haoyun Technology (300448) and others, indicating a collaborative investment approach in the new energy sector [1]

Core Insights - Recently, Huayun Smart Energy Technology (Wuhan) Co., Ltd. was established with a registered capital of 32.8 million RMB, focusing on efficient energy-saving technologies and digital solutions for the energy sector [1] Company Information - The company is co-owned by Haoyun Technology (46% share), Wuhan Huazhong University of Science and Technology Asset Management Co., Ltd. (9.61% share), and other stakeholders [2] - The legal representative of the company is Gao Jiefen, and it was officially registered on November 1, 2025 [2] Business Focus - The company aims to develop "AI-enabled flexible intelligent power generation" solutions, collaborating with a professor team from the National Key Laboratory of Coal Combustion and Low Carbon Utilization at Huazhong University of Science and Technology [1][2] - Its business scope includes engineering and technology research, high-efficiency energy-saving technology development, and manufacturing of new energy equipment [1][2]

Core Viewpoint - The establishment of Huayun Smart Energy Technology (Wuhan) Co., Ltd. aims to leverage AI to enhance flexible and intelligent power generation, providing digital and smart solutions for the energy sector [1] Group 1: Company Developments - Haoyun Technology, along with its partners, has signed an investment agreement to establish Huayun Smart, holding a combined 51% stake [1] - The collaboration includes contributions from Huazhong University of Science and Technology and Huazhi Thermal Technology, focusing on the industrialization of technological achievements [1][5] - Huayun Smart integrates academic, engineering, and practical experience to create a comprehensive business model [5] Group 2: Market Opportunities - The Chinese government has introduced policies to accelerate the flexibility transformation of existing coal-fired power units, with a potential market size of 400 billion yuan [2] - The demand for digital and intelligent technologies in the traditional coal power industry is increasing due to the dual carbon goals and the need for flexibility upgrades [3] Group 3: Technological Innovations - Huayun Smart is developing three core technologies: IoT coal flow and quality monitoring, AI-based predictive control, and flexible execution technology [4] - The project has achieved a breakthrough in the load adjustment rate of coal-fired units, reaching a new global record of 3.5% per minute [4] - The technology has been adopted by nearly 20 power plants across five major power generation groups, showcasing its international leadership [4] Group 4: Strategic Alignment - The technology roadmap of Huayun Smart aligns with national policies on coal power decarbonization and modernization [5] - The small powder warehouse flexible intelligent solution has become a leading technology in the flexibility upgrade of thermal power generation [5] - The company aims to create an innovative service ecosystem covering the entire energy value chain through advanced technologies [6]

Core Insights - Haoyun Technology plans to invest 32.8 million yuan to establish a subsidiary, Huayun Smart Energy Technology (Wuhan) Co., Ltd., focusing on "AI-enabled flexible intelligent power generation" solutions for the energy sector [1] - The company aims to leverage digital and intelligent technologies to enhance cost efficiency and facilitate low-carbon transformation in the traditional coal power industry, driven by the dual carbon goals and the need for increased flexibility in coal power generation [3][4] Company Developments - The establishment of Huayun Smart Energy is a collaborative effort that integrates academic, research, and industrial capabilities, utilizing the strengths of Huazhong University of Science and Technology and Huazhi Thermal Technology [5] - The subsidiary's core technologies include IoT coal flow and quality monitoring, AI-based predictive control, and enhanced flexible storage solutions, aiming to create a closed-loop solution for coal power flexibility [4][5] Market Potential - The market for flexible transformation of coal power generation is substantial, with optimistic estimates suggesting a market space of 40 billion yuan, driven by government policies promoting the upgrade of coal power units [2] - Huayun Smart Energy's solutions are aligned with national policies aimed at low-carbon transformation and have been recognized as a leading technology in the industry [5] Technological Advancements - The company has developed a new generation of coal power flexibility technology, achieving a load adjustment rate of 3.5% per minute, surpassing previous records and demonstrating significant advancements in coal power flexibility [4] - The technology has been successfully implemented in nearly 20 power plants across five major power generation groups, showcasing its international competitiveness [4] Strategic Positioning - Haoyun Technology is positioning itself as a comprehensive platform for energy digitalization, integrating advanced AI and big data technologies to cover the entire energy value chain [6] - The company's innovative service ecosystem aims to fill gaps in traditional coal power intelligence, enhancing collaboration between main and auxiliary machines [6]

Core Viewpoint - Haoyun Technology (300448.SZ) reported its Q3 2025 results, indicating a slight decline in institutional ownership and a stable presence of public funds and foreign investors [1] Institutional Ownership - As of October 24, 2025, two institutional investors disclosed holdings in Haoyun Technology A-shares, totaling 4.3567 million shares, which represents 0.64% of the total share capital [1] - The institutional ownership ratio decreased by 0.01 percentage points compared to the previous quarter [1] Public Fund Activity - In this reporting period, 39 public funds were disclosed, which were not reported in the previous quarter [1] - Notable funds include Morgan Stanley Multi-Factor Strategy Mixed, Guojin Quantitative Multi-Factor A, Guojin Quantitative Selected A, CITIC Prudential CSI Information Security Index (LOF) A, and CITIC Jiantou Zhixin Internet of Things A [1] Foreign Investor Attitude - Two new foreign institutions disclosed their holdings this quarter, including UBS AG and J.P. Morgan Securities PLC - proprietary funds [1]