Company Summary - Kelong Software (SZ 300663) announced on October 29 that its controlling shareholder, Mr. Wang Anjing, and his concerted party, Ningbo Kelong Shenghe Investment Management Partnership (Limited Partnership), have pledged a total of 7.9 million shares [1] - As of the announcement date, Mr. Wang Anjing has pledged approximately 22.9 million shares, accounting for 81.16% of his holdings, while Kelong Shenghe has pledged 11.05 million shares, representing 44.85% of its holdings [1] - For the first half of 2025, Kelong Software's revenue composition is 100% from the software and information industry [1] - The current market capitalization of Kelong Software is 8.5 billion yuan [1] Industry Summary - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation [1] - A new "slow bull" market pattern is emerging, indicating a potential shift in market dynamics [1]

| 证券代码：300663 | 证券简称：科蓝软件 公告编号：2025-097 | | --- | --- | | 债券代码：123157 | 债券简称：科蓝转债 | 北京科蓝软件系统股份有限公司 关于控股股东及其一致行动人股份质押的公告 公司控股股东王安京先生及宁波科蓝盛合投资管理合伙企业（有限合伙）保 证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 2、股东股份累计质押基本情况 一、股东股份质押的基本情况 公司接到股东函告，获悉其所持有本公司的部分股份被质押，具体事项如下： | | 是否为 | | 占其 | 占公 | | 是否 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 控股股 | 本次质押 | 所持 | 司总 | 是否 | 为补 | | | | | | | 名称 | 东及其 | 数量（股） | 股份 | 股本 | 为限 | 充质 | 质押起始日 | | 质押到期日 | 质权人 | 质押 | | | 一致行 | | 比例 | 比例 ...

截至发稿，科蓝软件市值为83亿元。 （记者 曾健辉） 每经AI快讯，科蓝软件（SZ 300663，收盘价：17.32元）10月24日晚间发布公告称，公司第四届第一次 董事会会议于2025年10月24日以通讯表决的方式召开。会议审议了《关于选举公司第四届董事会专门委 员会委员的议案》等文件。 每经头条（nbdtoutiao）——中国创新药，今年海外授权已卖出800亿美元！对话创东方投资合伙人卢 刚：生物医药二级市场火热，一级市场为何募资遇冷？ 2025年1至6月份，科蓝软件的营业收入构成为：软件和信息产业占比100.0%。 ...

| 证券代码：300663 | 证券简称：科蓝软件 | 公告编号：2025-096 | | --- | --- | --- | | 债券代码：123157 | 债券简称：科蓝转债 | | 北京科蓝软件系统股份有限公司 第四届董事会第一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，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 北京科蓝软件系统股份有限公司（以下简称"公司"）第四届董事会第一次 会议的会议通知于2025年10月17日以邮件方式发出，并于2025年10月24日以通讯 表决的方式召开。本次董事会会议由董事长王安京召集并主持。本次会议应到董 事8人，实到董事8人。本次会议的召开符合《中华人民共和国公司法》等相关法 律法规和《北京科蓝软件系统股份有限公司章程》的规定。 二、董事会会议审议情况 1、审议通过《关于选举公司第四届董事会专门委员会委员的议案》 根据《公司法》和《公司章程》的有关规定，公司第四届董事会下设战略委 员会、审计委员会、提名委员会、薪酬与考核委员会，各委员会具体组成如下： | 序号 | 专门委员会 | 主任委员 （召集人） | 委员 | | ...

Core Insights - A new digital technology company, Liaoning Lanhua Zhichuang Digital Technology Co., Ltd., has been established with a registered capital of 10 million yuan, focusing on internet data services and AI applications [1] Company Summary - The new company is co-owned by Kelong Software (300663) and others, indicating a strategic move into the AI sector [1] - The business scope includes AI industry application system integration services, AI hardware sales, and technical consulting for AI public service platforms [1]

Group 1 - The core point of the article is that Beijing Kelong Software System Co., Ltd. has been awarded the "Outstanding Case" in the 10th "Rongcheng Cup" Financial Technology Innovation Case Evaluation for its self-developed intelligent cash robot "Xiao Lan" [2][3] - The "Rongcheng Cup" is a highly influential event in the industry aimed at discovering and recognizing benchmarks of innovative practices in the financial technology sector [2] - "Xiao Lan" robot integrates multiple technologies and adapts to various scenarios, addressing many pain points of traditional bank branches, including an AI intelligent response system that covers over 200 service intents and supports natural dialogue in Mandarin and dialects [2] Group 2 - Kelong Software has been a leader in providing comprehensive solutions for financial digitalization for 25 years, emphasizing the mission of "empowering finance with technology and driving development through innovation" [2][3] - The company has established a professional R&D team of 200 people and a joint laboratory with Tsinghua University, forming an integrated innovation system of "industry-university-research" [2] - Kelong Software aims to continue upgrading "Xiao Lan" to cover more financial service scenarios and assist more financial institutions in achieving digital and intelligent transformation, contributing to the high-quality development of the financial industry [2]

Core Insights - The collaboration between Tsinghua University and Kylin Software has resulted in a self-developed database capable of competing with Oracle, marking a significant step in breaking the overseas monopoly in the database market [1][5]. Group 1: Collaboration and Innovation - Tsinghua University possesses top-tier research capabilities but lacks industry application validation, while Kylin Software has extensive experience in financial software but needs a strong research team. Their partnership effectively addresses each other's weaknesses [3]. - The establishment of a joint research institute in 2023 allows Tsinghua professors to work on algorithm models at Kylin, while Kylin engineers provide real business data for technical integration, reducing the R&D cycle by 40% compared to industry averages [3]. Group 2: Product Development and Performance - The newly developed database, SUNDB, boasts over 98% of its code written independently and holds 12 core technology patents, effectively distancing itself from Oracle and IBM [5]. - SUNDB can handle 3 million transactions per second with a response time of 10 milliseconds, doubling the speed of previous overseas databases. Its security features include full-link encryption and multi-replica disaster recovery [5]. Group 3: Market Impact and Strategy - The collaboration aims to integrate the database with domestic chips and systems, achieving over 80% compatibility with Huawei's HarmonyOS and Feiteng chips, thus simplifying implementation for banks [5]. - The market share of domestic databases has increased from 8% to 18%, demonstrating the effectiveness of this strategic partnership [5].

Policy Background - In October 2025, the U.S. will include "critical software" in its export control list, covering areas such as database management systems and industrial design tools [1] - Following this, Chinese authorities updated the "Xinchuang Product Catalog," mandating that new IT procurement projects prioritize domestically developed software that has passed national security reviews [1] Correspondence Between SUNDB and Control List - The SUNDB database from Kela Software is categorized as "Database Management Software" under the U.S. control list [2] - The self-developed source code rate is 98.31%, and it does not utilize U.S. open-source codes like MySQL or PostgreSQL, mitigating "U.S. technology" licensing risks [2] - SUNDB has passed dual security certifications from domestic and international standards [2] Quantitative Impact from Demand Changes - As of June 2025, the domestic software adoption rate in core trading systems of state-owned and joint-stock banks is below 25% [3] - Major banks are accelerating their migration plans from Oracle to 2026, originally set for 2027 [3] - For a single bank with assets over 5 trillion yuan, the database licensing fees are estimated at 120-150 million yuan; if all 12 major banks initiate replacements, the market size could reach 1.4-1.8 billion yuan [3] Key Infrastructure Industries - By September 2025, the Ministry of Industry and Information Technology mandated that the database localization rate in critical infrastructure sectors must reach 50% by the end of 2026 [4] - The existing Oracle and DB2 systems in telecommunications, energy, and transportation sectors total approximately 3,800, with a theoretical market space of 11.4-19 billion yuan based on a unit cost of 3-5 million yuan each [4] Government Procurement List - Kela Software's SUNDB has been included in the centralized procurement list for central government agencies and state-owned enterprises [5] - Following the control measures, 68 new database segments were added to the central procurement center's list in Q4 2025, with 42 explicitly stating "no U.S. technology" products [5] Supply-Side Exclusivity - The closed-source architecture of SUNDB avoids U.S. "open-source license" jurisdiction [6] - Kela Software holds 126 authorized patents covering core modules, creating a technological barrier against similar domestic open-source products [6] - Collaboration with Tsinghua University to establish a joint research institute will utilize national funding from 2025 to 2027 to further develop the next-generation fully in-memory distributed version of SUNDB [6] Market Share Changes - As of Q3 2025, the market share for distributed databases in China is as follows: Dameng 18.4%, SUNDB 16.7%, Nanda General 11.2%, and Oracle 14.9%, with Oracle experiencing a year-on-year decline of 6.8 percentage points [7][8] Conclusion - Kela Software's SUNDB is positioned to benefit directly from the concentrated replacement demand in the financial, telecommunications, and energy sectors due to the U.S. export control measures and tightening domestic regulations on "U.S. technology" procurement [9]

Core Insights - The article highlights the risks associated with using open-source databases for sensitive information storage, emphasizing the advantages of proprietary databases like those developed by Kelaun [2][3][4] Group 1: Vulnerabilities of Open-Source Databases - Open-source databases have slow vulnerability patching processes, exemplified by the 47-day delay in fixing the "Log4j2" vulnerability in MySQL, during which 30% of global financial apps were at risk [3] - Contracts associated with open-source databases may contain hidden clauses that allow service providers to access user data, leading to potential data breaches, as seen in a case where 3 million users' data was compromised [4] Group 2: Advantages of Proprietary Databases - Kelaun's proprietary database can fix vulnerabilities within 2 hours, significantly faster than open-source alternatives, enhancing data security for users [3][6] - Kelaun's databases are designed with customized security features for sensitive applications, such as encrypting transaction records for banks and anonymizing patient data for hospitals [6] Group 3: National Security Implications - The reliance on foreign-controlled databases poses significant risks to critical national infrastructure, such as power and water systems, which could be compromised if foreign entities gain access [7][8] - Kelaun's databases are installed in energy companies, ensuring data remains within domestic servers and is not subject to foreign control, thus maintaining operational integrity [8] Group 4: Industrial Resilience - Proprietary databases provide operational continuity for industries like automotive manufacturing, which faced significant downtime due to reliance on foreign open-source components [9] - Kelaun's databases are designed to operate independently of foreign technology, ensuring uninterrupted production processes even amidst international restrictions [9] Group 5: Establishing Domestic Standards - The article discusses the need for Chinese enterprises to establish their own standards for database usage, reducing dependency on foreign regulations that may not align with domestic needs [10] - Kelaun is leading the formation of a "Financial-Level Database Open Source Alliance," which aims to create rules that cater to the specific requirements of Chinese companies, promoting industry safety and autonomy [10]

Core Insights - The U.S. government has tightened export controls on foundational software technologies to China, including core database management systems and middleware, creating unprecedented opportunities for domestic software companies in China [1] - The export restrictions are expected to accelerate the shift towards domestic database solutions, as industries move from merely using to actively adopting and trusting Chinese databases [2] - Companies like Kylin Software's SUNDB are positioned to benefit significantly from this shift, as they offer fully autonomous databases that meet high performance and security standards [3] Industry Impact - The tightening of U.S. export controls is seen as a "stress test" for China's information technology supply chain, prompting a reevaluation of security standards across various sectors [3][4] - Key industries such as finance, government, and military are expected to increase their budgets and prioritize the procurement of domestic software solutions due to heightened security concerns [3] - The move away from reliance on foreign database products, particularly Oracle, is anticipated to create substantial market opportunities for domestic players like SUNDB [3][4] Company Opportunities - Kylin Software's SUNDB has established a significant first-mover advantage in the domestic database market, supported by years of technical accumulation and industry experience [3] - The company is expected to leverage favorable policies and market demand to expand its market share and deepen its industry presence [4] - SUNDB's architecture supports high availability and scalability, making it suitable for critical applications in sectors that require zero data loss and high service continuity [2]