证券代码：300624 证券简称：万兴科技 公告编号：2025-033 万兴科技集团股份有限公司 证券代码：300624 证券简称：万兴科技 公告编号：2025-033 关于2024年度股东会增加临时提案 暨股东会补充通知的公告 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。 万兴科技集团股份有限公司（以下简称"公司"）第四届董事会第二十四次 会议决定于2025年5月19日召开公司2024年度股东会（以下简称"本次会议"）。 公司独立董事将在本次股东会上述职。具体内容详见公司于2025年4月28日在巨 潮资讯网（www.cninfo.com.cn）披露的《关于召开2024年度股东会的通知》（公 告编号：2025-020）。 2025年5月7日，公司董事会收到了控股股东、实际控制人、董事长及总经理 吴太兵先生以书面形式提交的《关于提请增加2024年度股东会临时提案的函》。 吴太兵先生提请将《关于公司董事会换届选举暨提名第五届董事会非独立董事候 选人的议案》和《关于公司董事会换届选举暨提名第五届董事会独立董事候选人 的议案》作为临时提案提交公司2024年度股东会审 ...

证券代码：300624 证券简称：万兴科技 公告编号：2025-029 万兴科技集团股份有限公司 鉴于公司第四届董事会任期即将届满，根据《中华人民共和国公司法》《万 兴科技集团股份有限公司章程》等相关规定，公司董事会按照相关法定程序进行 换届选举。经公司董事会提名委员会资格审查通过，公司董事会同意提名吴太兵 先生、林倩晖先生为第五届董事会非独立董事候选人，任期自公司股东会审议通 过之日起三年。 本议案尚需提交公司股东会审议。本议案由控股股东、实际控制人、董事长 及总经理吴太兵先生提请以临时提案方式提交公司 2024 年度股东会一并审议， 本次提案程序合法合规，公司董事会同意将本议案作为临时提案在公司 2024 年 度股东会一并审议。 具体内容详见刊登于巨潮资讯网（www.cninfo.com.cn）的相关公告。 证券代码：300624 证券简称：万兴科技 公告编号：2025-029 第四届董事会第二十五次会议决议公告 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、董事会会议召开情况 万兴科技集团股份有限公司（以下简称"公司"）第四届董事会第二十五次 会议 ...

Market Overview - The Shanghai Composite Index rose by 0.28% on May 8, with 21 out of the 28 sectors in the Shenwan classification experiencing gains, led by the communication and defense industries, which increased by 2.60% and 2.57% respectively [1] - The computer industry saw a rise of 0.71% [1] - The beauty care and non-ferrous metals sectors had the largest declines, falling by 0.96% and 0.43% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 118 million yuan across the two markets, with 11 sectors experiencing net inflows [1] - The communication sector led the net inflow with 2.60% increase and a total inflow of 2.423 billion yuan, followed by the power equipment sector with a 1.62% increase and an inflow of 1.669 billion yuan [1] - The basic chemical sector had the largest net outflow, totaling 2.663 billion yuan, followed by the computer sector with a net outflow of 1.173 billion yuan [1] Computer Industry Performance - In the computer sector, 336 stocks were tracked, with 255 stocks rising and 73 stocks declining; three stocks hit the daily limit up [2] - The top three stocks with the highest net inflow were Donghua Software, with an inflow of 649 million yuan, followed by Wangda Software and Wanxing Technology with inflows of 264 million yuan and 234 million yuan respectively [2] - The stocks with the highest net outflow included Huasheng Tiancheng, Changshan Beiming, and Ruantong Power, with outflows of 548 million yuan, 454 million yuan, and 426 million yuan respectively [2][3] Top Gainers in Computer Sector - The top gainers in the computer sector included: - Donghua Software: +9.96% with a turnover rate of 8.19% and a main capital flow of 649.29 million yuan - Wangda Software: +7.67% with a turnover rate of 22.22% and a main capital flow of 264.49 million yuan - Wanxing Technology: +6.17% with a turnover rate of 12.42% and a main capital flow of 233.92 million yuan [2] Top Losers in Computer Sector - The top losers in the computer sector included: - Huasheng Tiancheng: -2.64% with a turnover rate of 45.15% and a main capital flow of -547.88 million yuan - Changshan Beiming: -2.90% with a turnover rate of 11.66% and a main capital flow of -454.25 million yuan - Ruantong Power: -2.14% with a turnover rate of 6.06% and a main capital flow of -425.53 million yuan [3]

Market Performance - The Sora (Wensheng Video) concept declined by 0.80%, ranking among the top decliners in the concept sector, with *ST Tianze hitting the daily limit down [1] - Among the concept stocks, Tianyu Digital Science surged by 10.04%, followed by Fushi Holdings at 1.19% and Daheng Technology at 0.67% [1] Capital Flow - The Sora concept experienced a net outflow of 368 million yuan, with 28 stocks seeing net outflows, and 10 stocks with outflows exceeding 30 million yuan [1] - The stock with the highest net outflow was Jincai Huilian, with a net outflow of 89.09 million yuan, followed by ZheShu Culture and Huace Film & TV with outflows of 69.59 million yuan and 53.24 million yuan respectively [1] Top Gainers and Losers - The top gainers in the Sora concept included Tianyu Digital Science, Fushi Holdings, and Xinhua Net, with net inflows of 267.44 million yuan, 12.00 million yuan, and 9.87 million yuan respectively [2] - The stocks with the largest net outflows included Jincai Huilian, ZheShu Culture, and Huace Film & TV, with outflows of 89.09 million yuan, 69.59 million yuan, and 53.24 million yuan respectively [2]

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。 万兴科技集团股份有限公司（以下简称"公司"）于 2024 年 8 月 15 日召开 第四届董事会第十九次会议，审议通过了《关于回购公司股份方案的议案》，使 用自有资金以集中竞价方式回购公司部分 A 股股份，用于员工持股计划或股权 激励计划；回购股份的资金总额不低于人民币 2,000 万元（含）且不超过人民币 4,000 万元（含），回购股份的价格不超过人民币 71.78 元/股（含），回购期限 自公司董事会审议通过回购股份方案之日起 12 个月内。具体内容详见公司于 2024 年 8 月 16 日在巨潮资讯网上披露的《关于回购公司股份方案的公告暨回购 报告书》（公告编号：2024-054）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，回购期间，公司应当在每个月的前三个交易日 内披露截至上月末的回购进展情况。现将公司截至上月末回购股份的进展情况公 告如下： 一、回购公司股份的进展情况 证券代码：300624 证券简称：万兴科技 公 ...

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。 万兴科技集团股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开 第四届董事会第二十四次会议审议通过了《关于回购公司股份方案的议案》，同 意使用自有资金和自筹资金通过深圳证券交易所股票交易系统以集中竞价交易 方式回购公司股份，用于员工持股计划或股权激励计划，回购股份的期限自董事 会审议通过本次回购股份方案之日起 12 个月内，回购股份的价格为不超过人民 币 89.85 元/股（含），回购的资金总额不低于人民币 2,500 万元（含），不超过 人民币 5,000 万元（含）。具体内容详见公司于 2025 年 4 月 28 日在巨潮资讯网 上披露的《关于回购公司股份的方案公告》（公告编号：2025-019）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，回购期间，公司应当在每个月的前三个交易日 内披露截至上月末的回购进展情况。现将公司截至上月末回购股份的进展情况公 告如下： 一、回购公司股份的进展情况 截至 2025 ...

Core Insights - The multi-modal large model industry focuses on deep learning models capable of processing, understanding, and generating various types of data, including text, images, audio, and video, enabling complex and intelligent tasks [1] - The industry has a wide application potential across various sectors such as natural language processing, image recognition, speech recognition, intelligent driving, and medical imaging diagnosis [1] Industry Overview - The multi-modal large model industry chain is complex, encompassing hardware facilities, software development, and various model types, including CLIP, BLIP, and LLaMA, among others [1] - The industry is divided into three layers: the foundational layer (hardware and basic software), the model layer (various types of multi-modal large models), and the application layer (industry-specific applications) [1] Cost Structure - The training costs for mainstream domestic large models range from tens of millions to hundreds of millions of dollars, with major companies like Baidu, Alibaba, and Tencent investing over $200 million [3][5] - Startups like Kimi and DeepSeek have managed to reduce training costs to between $30 million and $60 million through technological optimizations [3] - Cloud hosting costs are significantly influenced by model scale, with major companies leveraging their own cloud platforms to reduce costs [3] Development History - The global large model industry has evolved through several phases: early exploration (1956-2005), rapid growth (2006-2019), the rise of large models (2020-2022), and the current phase of widespread application starting in 2023 [6] Computational Demand - The demand for computational power in AI is increasing, with larger models requiring exponentially more computational resources; for instance, the GPT-3 model requires 3640 PF-days of computation and at least 10,000 GPUs [9] - As model parameters increase, the computational investment needed grows significantly, influenced by model architecture, optimization efficiency, and hardware capabilities [9]

Investment Rating - The investment rating for the computer industry is "Buy" [2] Core Insights - The computer industry is experiencing a bottoming out of demand in 2024, with significant differences in structural performance across various segments. Companies are enhancing operational efficiency to cope with the challenges [6][14] - The median revenue growth rate for the industry in 2024 is -1.59%, a decrease of 4.88 percentage points from 2023. The median net profit growth rate is -2.24%, down 8.35 percentage points from the previous year [15] - The report highlights that while revenue and profit metrics are declining, the rate of decline is slowing, indicating potential for improvement in Q1 2025 [15][16] Summary by Sections 1. 2024 Annual Report: Bottoming Demand and Efficiency Improvements - The report analyzes the performance of 208 listed companies in the computer industry, revealing that the overall revenue growth is stabilizing, and profit margins are showing signs of recovery [14][15] - Different segments within the industry show varying performance, with IT hardware, trusted computing, and smart vehicle sectors demonstrating positive growth trends [16][28] 2. Demand Stabilization and Financial Indicators - The report notes that contract liabilities are beginning to improve, and accounts receivable growth is declining, indicating a more stable financial environment [23][24] - Cash inflows from sales of goods and services have significantly increased, reflecting a positive trend in operational cash flow [24] 3. Investment Activity and Valuation Levels - The report indicates an increase in net cash outflow from investment activities, suggesting an expansion trend among companies [26] - As of April 30, 2025, the industry’s price-to-earnings (P/E) ratio is 46 times, with software companies showing a higher P/E increase compared to hardware companies [19][20] 4. Key Areas of Investment Value - The report identifies several key areas with strong investment potential, including AI applications, domestic software and hardware replacements, and the smart driving industry [20][21] - The acceleration of domestic orders in trusted computing and the expansion of the Harmony OS ecosystem are expected to enhance the competitive edge of leading companies in the industry [20][21]

Investment Rating - The report maintains a positive outlook on the AI industry, suggesting continued attention to investment opportunities within the sector [3][7]. Core Insights - The national emphasis on AI development is highlighted, with significant political support from President Xi Jinping, who underscored the importance of self-reliance and application orientation for healthy AI growth [2][7]. - The "Model Speed Space" in Shanghai is identified as a key innovation hub for AI, representing a comprehensive industry chain and expected to enhance industry momentum [2][7]. - The integration of young talent and academia is seen as a catalyst for accelerating the commercialization of AI technologies, with a focus on leveraging China's large pool of engineers and youth [2][7]. - The report emphasizes the diverse applications of AI products, advocating for quality and safety in development, and notes the vast market potential in China [2][7]. Summary by Sections National Policy and Industry Development - The report discusses the recent collective study by the Political Bureau of the CPC Central Committee on AI, indicating a strong governmental push for the sector [2][3]. - President Xi's visit to Shanghai reinforces the strategic importance of AI in national development, aiming to position Shanghai as a global tech innovation center [2][7]. Key Companies and Investment Opportunities - Recommended companies include Hehe Information, Sie Consulting, Digiwin Software, ArcSoft, Wondershare Technology, Kingdee International, Kingsoft Office, and Hygon Information Technology, with Cambricon Technologies identified as a beneficiary [3][7]. - The report provides earnings forecasts for these companies, indicating potential growth in EPS and PE ratios over the next few years [5]. Market Dynamics and Product Development - The report notes the flourishing of AI applications across various sectors, emphasizing the need for safe and reliable products to ensure long-term growth [2][7]. - The "Model Speed Space" showcases a range of AI products, reflecting a shift from "Made in China" to "Intelligent Manufacturing in China" [2][7].

证券代码：300624 证券简称：万兴科技 公告编号：2025-026 万兴科技集团股份有限公司 回购报告书 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。 万兴科技集团股份有限公司（以下简称"公司"）拟使用自有资金和自筹资 金以集中竞价交易方式回购公司股份（以下简称"本次回购"），具体方案如下： 1、回购股份的用途：拟用于员工持股计划或股权激励计划。 2、回购股份的种类：公司发行的人民币普通股（A 股）。 3、回购股份的价格：不超过人民币 89.85 元/股（含），该回购价格上限未 超过董事会审议通过本次回购股份方案决议前 30 个交易日公司股票交易均价的 150%。 4、回购股份的资金总额：不低于人民币 2,500 万元（含）且不超过人民币 5,000 万元（含）。 5、回购资金来源：公司自有资金和自筹资金。 6、回购期限：自董事会审议通过回购股份方案之日起 12 个月内。 7、回购股份的数量占公司总股本的比例： 按照本次回购股份的资金总额的上下限及回购股份价格上限人民币 89.85 元 /股进行测算，预计回购股份数量约为 278,242 股（取整）至 5 ...