Core Viewpoint - The company expects a net loss of 140 million to 190 million yuan for the fiscal year 2025, compared to a loss of 51.1 million yuan in the same period last year [1] Group 1: Financial Performance - The anticipated net loss for 2025 is significantly higher than the previous year's loss, indicating a worsening financial situation [1] - The company reported a decline in gross profit due to external market conditions and clients' cost-reduction strategies [1] Group 2: Operational Challenges - Project acceptance and approval processes have been prolonged, leading to delays in project acceptance and extended acceptance cycles [1] - The company faced pressure on pricing during business negotiations, contributing to the decline in gross profit [1] - The combination of these factors has resulted in gross profit not being sufficient to cover fixed cost expenditures [1]

Financial Performance - The company expects a net loss for the fiscal year 2025, estimated between CNY 14 million and CNY 19 million, compared to a net loss of CNY 5.11 million in the same period last year[5] - The net profit after deducting non-recurring gains and losses is projected to be a loss between CNY 14.56 million and CNY 19.56 million, compared to a loss of CNY 4.95 million in the previous year[5] - A provision for asset impairment has been planned, impacting current profits due to identified impairment signs[7] - The financial data presented is preliminary and has not been audited, with final figures to be disclosed in the 2025 annual report[9] - The company emphasizes the importance of cautious decision-making for investors due to the preliminary nature of the financial data[9] Market Conditions - The decline in gross profit is attributed to external market pressures and extended project acceptance timelines, which have delayed revenue recognition and increased cost pressures[7] Business Strategy - New business initiatives in the digital economy are still in the investment phase, with expected contributions to performance materializing in future years[7] - The company plans to optimize management strategies, enhance technological innovation, and improve product and service quality to increase market share[8]

Core Viewpoint - The company is significantly increasing its strategic investment in artificial intelligence, having established a comprehensive AI toolchain and self-developed large model technology system [1] Group 1: AI Product Development - The company has developed a product system of intelligent agents that deeply serves multiple core areas including telecommunications, urban management, and various industries [1] - In the telecommunications sector, the company has created over a hundred intelligent agents across six categories: market, government and enterprise, network, service, management, and research and development [1] - Specific intelligent agents include multi-turn precise dialogue systems, intelligent operation and maintenance for network anomaly prediction and repair, customer insight and personalized marketing assistants, intelligent fault handling for business interruption recovery, and AI bidding assistants for tender processes [1] Group 2: Industry Applications - The company has tailored intelligent agents to meet the development needs of primary, secondary, and tertiary industries, enhancing productivity and smart operations in agriculture, industry, and cultural tourism [1] - The company is also deploying intelligent capabilities in smart city governance, industrial digital transformation, and financial service innovation [1] Group 3: Future Outlook - The company plans to continue deepening its investment in AI technology and further enhance its intelligent product matrix to drive digital transformation across various industries, aiming to create long-term value for shareholders [1]

Core Viewpoint - The company, Sitongqi, has reported significant industry achievements in the field of spatial intelligence through its affiliate, Kaola Youran, which is focused on technological innovation and product development in the artificial intelligence sector [1] Group 1 - The affiliate, Kaola Youran, is committed to continuous technological iteration and product innovation [1] - The company aims to become a leading enterprise in technological innovation and industry implementation within the artificial intelligence sector [1]

Core Viewpoint - The company, Sitergy (300608), has confirmed that all revenue generated from AI-related projects is recognized in accordance with the Accounting Standards for Business Enterprises, ensuring compliance with revenue recognition criteria [1] Financial Reporting - The revenue from AI projects is included under "main business income" in the company's financial statements [1] - The company has accurately and completely accounted for all operating income in its 2025 periodic report [1] - All significant financial and operational data are uniformly and systematically disclosed in the periodic reports [1]

Company and Industry Summary Company Overview - The company is recognized as the first stock focused on space computing scheduling, leveraging its core technology originally developed for telecom BOSS systems to manage vast, heterogeneous, and distributed resources including network, computing, and storage [1][2]. Core Technology and Services - The company has transitioned from communication networks to a more generalized computing capability, expanding its applications from terrestrial to space environments [2][3]. - It has developed universal products and solutions that cater to the commercial aerospace sector, based on its expertise in cloud computing, domestic PaaS, and business support platforms [2][3]. - Specific offerings include a business platform that supports satellite data services for commercial operations and capabilities for high-performance computing in the aerospace sector [3]. - The company acts as a ground scheduling hub software provider, participating in national or commercial aerospace projects, responsible for designing and managing scheduling systems [3]. - It provides an integrated solution for satellite remote sensing data processing, combining "in-orbit computing + ground scheduling" to enhance data timeliness [3]. Strategic Initiatives - The company is involved in building a platform that allows satellite computing power to be sold and scheduled as a service [4]. Risk Factors - There is a risk that the development of space computing may not meet expectations, which could impact the company's growth and market position [5].

Group 1 - The core stock price of Sitergy increased by 2.73% on January 22, reaching 12.06 CNY per share, with a total market capitalization of 3.995 billion CNY [1] - The company has seen an 8.94% increase in stock price year-to-date, but a decline of 3.67% over the last five trading days [2] - As of September 30, the number of shareholders increased to 29,100, while the average circulating shares per person decreased by 1.12% to 9,896 shares [3] Group 2 - Sitergy's main business includes providing comprehensive solutions for telecom operators such as China Mobile, China Unicom, and China Telecom, focusing on customer relationship management, big data, billing, and mobile internet services [2] - The revenue composition of Sitergy's main business is as follows: CRM 46.97%, Billing 19.51%, Cloud Computing 16.84%, and Big Data 16.68% [2] - The company reported a revenue of 240 million CNY for the first nine months of 2025, a year-on-year decrease of 25.48%, and a net profit attributable to shareholders of -177 million CNY, a decrease of 14.12% [3] Group 3 - Sitergy has distributed a total of 121 million CNY in dividends since its A-share listing, with 5.9229 million CNY distributed over the last three years [4]

Group 1 - The core point of the article is that Huachuang Yunxin holds a 25.69% stake in its subsidiary, Siterqi [1] Group 2 - Huachuang Yunxin responded to investor inquiries on an interactive platform regarding its ownership in Siterqi [1] - Siterqi is identified as a controlled subsidiary of Huachuang Yunxin [1]

| 保荐机构名称：财信证券股份有限公司 被保荐公司简称：思特奇 | | | | --- | --- | --- | | 保荐代表人：徐行刚 联系电话：0731-84403385 | | | | 保荐代表人：宋一宁 联系电话：0731-84403385 | | | | 现场检查人员姓名：徐行刚、宋一宁 | | | | 现场检查对应期间：2025 年度 | | | | 现场检查时间：2025 年 12 月 29 日至 2025 年 12 月 31 日 | | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 是 不适用 | 否 | | | 现场检查手段：查阅公司股东会、董事会会议文件；查阅公司章程等制度文件；访谈公 | | | | 司董事会秘书等 | | | | 1.公司章程和公司治理制度是否完备、合规 √ | | | | 2.公司章程和股东会、董事会规则是否得到有效执行 √ | | | | 3.股东会、董事会会议记录是否完整，时间、地点、 | | | | 出席人员及会议内容等要件是否齐备，会议资料是否 √ | | | | 保存完整 | | | | 4.股东会、董事会会议决议是否由出席会议的 ...

财信证券股份有限公司 关于北京思特奇信息技术股份有限公司 2025 年度持续督导培训情况报告 深圳证券交易所： 财信证券股份有限公司（简称"财信证券"）根据《深圳证券交易所上市公 司自律监管指引第 13 号——保荐业务》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 等规定的要求，对北京思特奇信息技术股份有限公司（简称"公司"）董事、高 级管理人员、中层以上管理人员代表及公司控股股东委派工作人员等相关人员进 行了 2025 年度持续督导培训，具体情况报告如下： 一、本次持续督导培训的基本情况 保荐机构：财信证券股份有限公司 培训时间：2025 年 12 月 31 日 培训方式：现场与通讯方式相结合 培训地点：北京市海淀区万科翠湖国际南区 6 号楼公司会议室 培训对象：公司董事、高级管理人员、中层以上管理人员代表及公司控股股 东委派工作人员等 二、培训内容： 本次持续督导培训内容包括： 1、《上市公司募集资金监管规则》解读 2、《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律 监管指引第 2 号——创业板上市公司规范运作》修订事项 ...