关于回购公司股份的进展公告 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。 中科创达软件股份有限公司（以下简称"公司"）于2025年4月7日召开第五届 董事会第七次会议审议通过《关于回购公司股份方案的议案》，公司拟以集中竞 价交易方式回购公司股份，本次用于回购的资金总额为不低于人民币5,000万元 （含），不超过人民币10,000万元（含），回购价格不超过96元/股。具体回购资 金总额以公司公告回购方案实施完毕之日实际使用的资金总额为准。本次公司回 购股份的资金来源为公司自有或自筹资金。回购的股份将用于员工持股计划或股 权激励。本次回购股份的实施期限为自公司董事会审议通过本次回购股份方案之 日起12个月内。具体内容详见公司披露于巨潮资讯网的相关公告。 证券代码：300496 证券简称：中科创达 公告编号：2026-001 中科创达软件股份有限公司 （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； （2）中国证监会和深圳证券交易所规定的其他情形。 2、公司以集中竞价交易方式回购股份符合下列要求： 根 ...

Core Viewpoint - The company is committed to advancing its AIOS strategy, integrating "chip + AIOS + ecosystem + globalization" into a new comprehensive solution [1] Group 1: AIOS Development - AIOS is centered around "AI native architecture + edge-cloud collaboration" as its core highlight [1] - The company has already secured project designations from leading domestic automotive manufacturers for its AIOS [1] Group 2: Collaboration Model - The collaboration model with automotive companies includes software development and technical services, software licensing, and provision of integrated hardware-software products [1]

Group 1 - The core viewpoint of the news highlights the recent advancements in intelligent driving, particularly the introduction of L3 level conditional autonomous driving vehicles by Changan and BAIC, which are set to undergo trials in designated areas [1] - The approval of L3 level trials for companies like XPeng indicates a maturing landscape in technology, policy, and regulation, suggesting that intelligent driving is entering an accelerated development phase [1] - The potential for Robotaxi services is underscored by Elon Musk's announcement regarding the testing of driverless taxis without human safety operators, which could significantly advance the commercialization of fully autonomous driving [1] Group 2 - Changjiang Securities notes that the recent positive developments from L3 to Robotaxi, along with expectations for the continuation of vehicle trade-in policies next year, could lead to a recovery in Beta pressures, maintaining a positive outlook on the intelligent driving industry chain [1] - As of December 22, 2025, the CSI Internet of Vehicles Theme Index (930725) has seen a strong increase of 2.07%, with notable stock performances from Wanji Technology (300552) up 16.16%, Beidouxing (002151) up 9.99%, and Jingwei Hengrun (688326) up 9.49% [1] - The intelligent connected vehicle ETF (159872) has risen by 1.57%, with the latest price reported at 1.04 yuan [1] Group 3 - The intelligent connected vehicle ETF closely tracks the CSI Internet of Vehicles Theme Index, which includes companies related to content and service providers, software providers, hardware providers, and automotive manufacturers [2] - As of November 28, 2025, the top ten weighted stocks in the CSI Internet of Vehicles Theme Index include CATL (300750), Hongfa Technology (600885), Dahua Technology (002236), and others, collectively accounting for 51.03% of the index [2]

Core Viewpoint - The article discusses the performance of the China Securities Artificial Intelligence ETF (159381) on December 22, highlighting its opening increase and the performance of its constituent stocks [1] Group 1: ETF Performance - The China Securities Artificial Intelligence ETF (159381) opened with a gain of 1.33%, priced at 1.822 yuan [1] - Since its inception on March 14, 2025, the fund has achieved a return of 79.76%, with a monthly return of 13.06% [1] Group 2: Constituent Stocks Performance - Among the top holdings, Zhongji Xuchuang increased by 3.20%, Xinyi Sheng by 3.88%, and Tianfu Communication by 1.85% [1] - Other notable performances include: - Xiechuang Data decreased by 0.10% - Ruantong Power decreased by 0.17% - Quanzhi Technology increased by 0.49% - Shenxinfeng increased by 0.36% - Beijing Junzheng increased by 1.00% - Zhongke Chuangda increased by 1.05% - Jingjiamei increased by 0.20% [1]

Core Insights - Global technology investment enthusiasm remains high in 2025, but there is a structural differentiation characterized by "strong computing power, weak applications" [3] - Major global tech giants are significantly increasing capital expenditures, benefiting upstream computing chips and supporting hardware, while the computer/software sector faces three pressures: 1) Software companies' performance growth is overall lower than that of the computing chain; 2) Software company valuations are not cheap compared to hardware; 3) Concerns about "large models consuming software" continue to grow [3] - By Q3 2025, domestic public funds are underweight in the computer sector by 1.7 percentage points [10] Market Review: AI Applications' Concerns and Breakthroughs - The performance of the computer/software sector in both China and the US has been weak, with software and service-focused indices significantly underperforming hardware and semiconductor indices [5] - As of December 12, 2025, the A-share computer index has risen by 15.15%, lagging behind the 49.16% increase in the ChiNext index and the 45.90% increase in the electronic index [5] - In the US market, the IGV software index has only increased by 7.84%, underperforming the 22.52% rise in the Nasdaq Composite and the 39.75% increase in the SOXX semiconductor index [5] Opportunities in Chinese AI Applications 1. Deepening Industrial Applications - China possesses the world's only complete industrial system, providing high-value real-world data, application scenarios, and energy supply, which will foster diverse agent forms [27] - The construction of a modern industrial system is prioritized in the "14th Five-Year Plan," with expectations for intensive policy support for "Artificial Intelligence+" during this period [39] 2. Expanding Overseas - AI application teams in China can leverage "extreme efficiency + global pricing" arbitrage, with the engineer dividend in China continuing to expand [3] - Many computer companies prioritize overseas strategies, with overseas revenue growth generally outpacing domestic growth [64] 3. Reconstructing Edge AI - Internet giants and AI startups are actively exploring edge forms in the AI era, integrating deeply with existing consumer electronics and developing new AI-native hardware [3] - The shipment volume of related products is expected to have high growth potential as hardware and algorithms mature [3] Investment Recommendations - Focus on companies with industry know-how and data for industrial empowerment, such as Hikvision, Dahua Technology, and Han's Laser [3] - Prioritize AI application companies with high overseas revenue proportions, including Foxit Software and Kingsoft Office [3] - Pay attention to AI hardware brands and algorithm vendors benefiting from the emergence of blockbuster products, such as Rainbow Soft and iFlytek [3]

证券日报网讯12月19日，中科创达（300496）在互动平台回答投资者提问时表示，公司与客户的合作信 息请以公司披露的信息为准。 ...

Market Overview - A-shares experienced a collective rise with nearly 4,500 stocks closing in the green, and the total trading volume in Shanghai and Shenzhen reached 1.73 trillion yuan, an increase of 704 billion yuan from the previous day [1][19][20] - The Shanghai Composite Index has shown three consecutive days of gains, recovering the 10-day and 20-day moving averages, with a key resistance level at approximately 3,912 points [1][19] Economic Indicators - Recent economic data from the US, including November's non-farm payrolls and CPI, along with Japan's central bank raising its target interest rate by 25 basis points to 0.75%, have alleviated external uncertainties for the A-share market [20] - The US CPI data has boosted market confidence, leading to increased expectations for a rate cut by the Federal Reserve in January [20][29] Sector Performance - The chemical sector continues to perform strongly, with the Chemical ETF (516020) rising by 1.75% and attracting over 2 billion yuan in net inflows over the past five trading days [4][20][25] - Key stocks in the chemical sector, such as Zangge Mining and Hangyang Co., saw significant gains, with Zangge Mining increasing by 6.56% [4][23] Investment Trends - The market is shifting focus from external factors to internal dynamics, with a notable interest in sectors benefiting from the "anti-involution" trend, particularly in chemicals and non-ferrous metals [20][22] - The Hong Kong market is also seeing a rebound, with the Hong Kong Internet ETF (513770) experiencing a net inflow of 13.3 billion yuan over the past ten days, indicating strong investor interest [20][30] Future Outlook - Analysts from Zhongyin Securities believe that the A-share market remains in an upward channel, with a transition from policy-driven momentum to profit-driven growth expected [22] - The chemical industry is anticipated to see a marginal improvement in its economic outlook, with supply-demand dynamics expected to stabilize [25][26] - The Hong Kong market is positioned for a rebound, with a focus on technology growth stocks as the market prepares for a potential upward trend [30][31]

Group 1 - The A-share technology sector experienced a rebound, with the AI index on the ChiNext board rising by 1.07% as of 13:06 on December 19, 2025 [1] - Notable stocks included Xinyi Sheng (300502) up by 3.80%, Zhongke Chuangda (300496) up by 3.26%, and Xingchen Technology (301536) up by 3.22% [1] - The Huaxia ChiNext AI ETF (159381) increased by 1.00%, reaching a latest price of 1.82 yuan, and has seen a cumulative increase of 6.58% over the past two weeks [1] Group 2 - The Huaxia ChiNext AI ETF has seen continuous net inflows over the past eight days, with a peak single-day inflow of 120 million yuan, totaling 504 million yuan, and reaching a new high in scale of 1.68 billion yuan [3] - The ByteDance Volcano Engine announced new pricing models and an "AI Savings Plan" at its conference, which could help enterprises save up to 47% on usage costs [3] - The Volcano Engine is rapidly growing as a dark horse in the cloud computing sector, leveraging its technological advantages and ecosystem [3] Group 3 - As of December 18, 2025, the Huaxia ChiNext AI ETF has achieved a net value increase of 89.94% over the past six months, ranking first among comparable funds [4] - The ETF's highest monthly return since inception was 37.61%, with a maximum consecutive monthly increase of 93.37% [4] - The management fee for the Huaxia ChiNext AI ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [4]

Core Insights - On December 17, 2023, brokerage firms provided target prices for listed companies, with notable increases for Honglu Steel Structure (002541), Jiuzhou Pharmaceutical (603456), and Huarui Precision, showing target price increases of 56.76%, 48.99%, and 36.02% respectively, across the professional engineering, medical services, and general equipment industries [1][2]. Target Price Increases - Honglu Steel Structure (002541) received a target price of 25.27 yuan, with a target increase of 56.76% from Guotai Junan Securities [2]. - Jiuzhou Pharmaceutical (603456) has a target price of 26.64 yuan, reflecting a 48.99% increase from Huachuang Securities [2]. - Huarui Precision (688059) was assigned a target price of 110.05 yuan, indicating a 36.02% increase from Guotou Securities [2]. - Other companies with significant target price increases include Hefeng Co. (603609) at 32.58%, Tianci Materials (002709) at 27.56%, and Anfu Technology (603031) at 26.56% [2]. Rating Adjustments - On December 17, only one company had its rating upgraded, with Qunyi Securities (Hong Kong) raising Tianci Materials (002709) from "Hold" to "Buy" [3][4]. First Coverage - A total of nine companies received initial coverage on December 17, including SAIC Motor (600104) and Weilan Lithium (002245), both rated "Buy" by Aijian Securities [4][5]. - Jiuzhou Pharmaceutical (603456) was also rated "Recommended" by Huachuang Securities, while Zhongke Chuangda (300496) and Kema Technology (301611) received "Buy" and "Increase" ratings from Dongbei Securities [4][5].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][5]. Core Insights - The company is building a foundational AI-native vehicle operating system, enhancing its competitive edge in the smart automotive industry through strategic partnerships with leading firms like Qualcomm and AMD [1][2]. - The integration of edge AI capabilities is transforming automotive computing architecture, with the AIBox serving as a critical bridge for local data processing and AI computation [1][2]. Financial Projections - Revenue is projected to reach 7.04 billion yuan in 2025, 8.54 billion yuan in 2026, and 11.28 billion yuan in 2027, reflecting growth rates of 30.79%, 21.22%, and 32.09% respectively [3][4]. - Net profit attributable to the parent company is expected to be 470 million yuan in 2025, 572 million yuan in 2026, and 761 million yuan in 2027, with corresponding growth rates of 15.26%, 21.90%, and 32.99% [3][4]. Financial Metrics - The projected P/E ratios are 61.72 for 2025, 50.64 for 2026, and 38.07 for 2027, indicating a decreasing trend as the company grows [3][4]. - The net asset return is expected to improve from 4.63% in 2025 to 6.80% in 2027, showcasing enhanced profitability [4][5].