Group 1 - The company, Wanxing Technology, confirmed on August 13 that its main business involves the sales and services of digital creative software products [2] - The company does not currently engage in the robotics business [2]

格隆汇8月13日丨万兴科技(300624.SZ)在互动平台表示，公司主业为数字创意软件产品的销售与服务， 暂不涉及机器人业务。 ...

Core Viewpoint - Wanjun Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image, with Ernst & Young appointed as the auditing firm for this issuance [1]. Group 1: Globalization Strategy - The Chinese Securities Regulatory Commission supports compliant companies in cross-border listings, clearing institutional barriers for the "A+H" model [4]. - Wanjun Technology aims to increase its R&D investment to over 30% in 2024, with H-shares expected to attract international capital to support its global expansion [4]. - The company's overseas revenue accounted for 90% in Q1 2025, and listing in Hong Kong is anticipated to strengthen global user trust and attract talent [4]. Group 2: Industry Position and Advantages - Wanjun Technology is recognized as a benchmark for Chinese creative software going global, with a product matrix that includes video creation, drawing, and document processing [5]. - The company has a strong technical moat with its self-developed "Wanjun Tianmu" model supporting AI video generation, achieving a cost as low as 0.25 yuan per video [5]. - The subscription model contributes to a high gross margin, with an overall gross margin of 93.22% projected for 2024, approaching that of premium brands like Moutai [6]. Group 3: Financial Performance and Challenges - Despite a high gross margin, the company reported a net profit loss of 163 million yuan due to a high expense ratio of 101.94% [7]. - Sales expenses increased to 59.03%, driven by rising customer acquisition costs on platforms like Google and Facebook, with a 22% year-on-year increase in CPC [7]. - R&D expenses accounted for 30.73%, with annual AI server costs reaching 210 million yuan, and management expenses at 12.18% due to global office network expansion [7].

每经AI快讯，有投资者在投资者互动平台提问：请问贵公司与华为集团在Ai推理领域有哪些技术合 作？目前在大模型方面有涉及ai人形机器人大模型吗？ 万兴科技（300624.SZ）8月13日在投资者互动平台表示，公司主业为数字创意软件产品的销售与服务， 暂不涉及机器人业务。 （文章来源：每日经济新闻） ...

Group 1 - The first meeting of the 2025 second employee stock ownership plan was held on August 9, 2025, with 99 participants representing 12,931,462 shares [2][3] - The meeting unanimously approved the establishment of a management committee for the employee stock ownership plan and elected members, ensuring no conflicts of interest with major shareholders or executives [3] - The management committee is authorized to handle various matters related to the employee stock ownership plan until its completion, including convening meetings, exercising shareholder rights, and managing daily operations [4][5] Group 2 - The management committee's responsibilities include decision-making on share transfers, qualification cancellations, and signing relevant agreements on behalf of the plan [5] - All resolutions passed during the meeting received 100% approval from the participating shareholders, indicating strong support for the plan [3][4] - The management committee's chairperson was elected on the same day, with a term lasting until the plan's completion [3]

二、持有人会议审议情况 经与会持有人审议并表决，一致形成决议如下： 证券代码：300624 证券简称：万兴科技 公告编号：2025-056 万兴科技集团股份有限公司 关于2025年第二期员工持股计划第一次持有人会议决议公 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。 一、持有人会议召开情况 万兴科技集团股份有限公司（以下简称"公司"）2025 年第二期员工持股 计划（以下简称"本员工持股计划"）第一次持有人会议于 2025 年 8 月 9 日在 公司会议室以现场结合通讯表决方式召开。本次会议由公司董事会秘书刘江华先 生召集和主持，出席会议的持有人 99 人，代表本员工持股计划份额 12,931,462 份。本次会议的召集、召开和表决程序符合本员工持股计划的相关规定。 （一）审议通过《关于设立公司 2025 年第二期员工持股计划管理委员会并 选举委员的议案》 为确保公司 2025 年第二期员工持股计划的顺利实施，根据《2025 年第二期 员工持股计划》《2025 年第二期员工持股计划管理办法》等相关规定，同意设 立公司 2025 年第二期员工持股计划管理委 ...

Core Viewpoint - Wankey Technology, known as the "Chinese version of Adobe," plans to list H-shares in Hong Kong to advance its globalization strategy, despite reporting a net loss of 163 million yuan in 2024 with a high gross margin of 93.22% [1][4][5]. Financial Performance - In 2024, Wankey Technology's revenue is projected to be 1.44 billion yuan, a decline of over 2% from 2023's 1.481 billion yuan, with a quarterly revenue increase of approximately 8.1% in Q4 [3]. - The video creative segment remains the core business, generating 961 million yuan in revenue, accounting for nearly 70% of total revenue, with a slight year-on-year growth of 0.06% [3]. - The company reported a net loss of 163 million yuan in 2024, with a net profit margin of -10.93%, and a further loss of 33 million yuan in Q1 2025, indicating ongoing financial challenges [4]. Gross Margin and Profitability - Wankey Technology's gross margin for 2024 stands at 93.22%, although it has decreased slightly due to competitive pricing pressures and rising AI server costs [5]. - The disparity between high gross margins and low net profits is attributed to significant increases in operating expenses [6]. Expense Analysis - In 2024, sales expenses rose by 17.42% to 849 million yuan, driven by intensified market competition and increased traffic costs, while R&D expenses reached 442 million yuan, reflecting a commitment to innovation [7]. - The company's total operating expenses in Q1 2025 amounted to 387 million yuan, with a period expense ratio of 101.94%, indicating a substantial increase in costs [7]. Competitive Advantages - Wankey Technology's core competitive advantages include strong technical innovation capabilities, a diverse product matrix, and an expanding global presence [9]. - The company has invested heavily in AI technology, launching the "Tianmu" multimedia model and integrating external models, which enhances product functionality and user experience [9]. - The product matrix encompasses various creative software solutions, allowing for cross-promotion and increased user loyalty [10]. Globalization Strategy - The company's overseas revenue accounted for 35.1% of total revenue in 2024, with a significant increase in Q1 2025, indicating a successful global expansion strategy [11]. Market Opportunities and Challenges - Wankey Technology's AI applications generated 67 million yuan in revenue in 2024, reflecting rapid growth, while subscription models and user retention strategies contribute to sustainable profitability [12]. - The company faces challenges from intense competition with global giants like Adobe and Canva, necessitating continuous differentiation to maintain its market position [13].

（文章来源：证券日报） 证券日报网讯万兴科技8月11日在互动平台回答投资者提问时表示，公司主业为数字创意软件产品的销 售与服务，不涉及机器人代工业务。 ...

Group 1 - The core viewpoint of the articles highlights the integration of AI in the cultural and creative industries, emphasizing its role in lowering creative barriers and enhancing the entire IP value chain, which is crucial for high-quality development in the cultural sector [1][2] - The AIGC (AI Generated Content) industry in China is projected to exceed 100 billion yuan in revenue by 2025, with the potential to reach a trillion yuan scale within the next decade, driven by advancements in AIGC technology [2] - The company, Wankey Technology, is actively promoting the fusion of culture and technology, providing creative and promotional support to industries such as animation, gaming, and cultural IP [3] Group 2 - Wankey Technology showcased its AI video solutions, including the Wankey Tianmu 2.0 and various applications, at the China International Animation Copyright Protection and Trade Expo, generating significant interest in the cultural creation field [1] - The company is collaborating with various sectors, such as producing an AI promotional video for Shenzhen's intangible cultural heritage and launching a video challenge with the game "Identity V" [3] - The company aims to assist cultural creators in making their stories more visible globally by providing the necessary tools powered by AI, thus transforming the cultural expression and production landscape [2]

Group 1 - The company, Wanxing Technology, plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image [1] - The issuance and listing are subject to approval from various regulatory bodies, including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] - As of the announcement date, the company is in discussions with intermediaries regarding the issuance, but specific details have not been finalized [1] Group 2 - In 2024, the company reported a revenue of 1.44 billion yuan, a decrease of 2.78% year-on-year, and a net loss attributable to shareholders of 163 million yuan compared to a profit of 86.21 million yuan in the previous year [2] - For Q1 2025, the company achieved a revenue of 380 million yuan, representing a year-on-year growth of 6.06%, but still reported a net loss of 32.81 million yuan [2] - The net cash flow from operating activities for 2024 was 33.32 million yuan, down from 234 million yuan in the previous year [2] Group 3 - The company went public in January 2018, raising a total of 331 million yuan, with a net amount of 289.62 million yuan after deducting issuance costs [3] - In June 2021, the company issued convertible bonds, raising a total of 378.75 million yuan, with a net amount of 371.07 million yuan after expenses [3][4] - The total funds raised from both the IPO and the bond issuance amounted to 709.75 million yuan [4]