Group 1 - The company, ChaoYue Technology, announced the election of Mr. Fang Haiou as the employee representative director of the second board of directors during the employee representative meeting held on September 12, 2025 [2]

北京中伦（杭州）律师事务所 关于安徽超越环保科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 二〇二五年九月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京中伦（杭州）律师事务所 关于安徽超越环保科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：安徽超越环保科技股份有限公司 北京中伦（杭州）律师事务所（以下简称"本所"）接受安徽超越环保科技 股份有限公司（以下简称"公司"）委托，指派本所律师对公司 2025 年第一次 临时股东大会（以下简称"本次股东大会"）的合法 ...

安徽超越环保科技股份有限公司 2025年第一次临时股东大会决议公告 证券代码：301049 证券简称：超越科技 公告编号：2025-034 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议通知情况 安徽超越环保科技股份有限公司（以下简称"公司"）于2025 年8月26日，发布了《关于召开2025年第一次临时股东大会的通知》 （ 公 告 编 号 ： 2025-028 ） ， 具 体 内 容 详 见 巨 潮 资 讯 网 （www.cninfo.com.cn）。 (2)网络投票时间：通过深圳证券交易所互联网投票系统进行网 络投票的具体时间为2025年9月12日（星期五）9:15至15:00； 通过深圳证券交易所交易系统进行网络投票的具体时间为2025 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形。 2.会议召开的日期、时间 (1)现场会议召开时间：2025年9月12日（星期五）下午14:30。 年9月12日（星期五）9:15-9:25，9:30-11:30和13:00-15:0 ...

安徽超越环保科技股份有限公司 离任董监高持股及减持承诺事项的说明 董监高减持股份的若干规定》《深圳证券交易所上市公司股东及董事、 监事、高级管理人员减持股份实施细则》等相关法律法规、规范性文 件的规定及做出的相关承诺。 特此说明。 安徽超越环保科技股份有限公司 董事会 2025 年 9 月 12 日 安徽超越环保科技股份有限公司（以下简称"公司"）于 2025 年 9 月 12 日召开 2025 年第一次临时股东大会，审议通过了《关于增 加董事会成员人数、修订<公司章程>的议案》。根据现行《中华人民 共和国公司法》《上市公司章程指引》《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》等有关法律、法规、规范性文件的规定，公司 结合实际情况，相应调整组织架构，监事会的职权由董事会审计委员 会行使，公司第二届监事会监事职务自然免除。现将公司第二届监事 会相关人员离任情况公告如下： 第二届监事会原定任期自 2023 年 1 月 16 日至 2026 年 1 月 15 日。 因公司不再设置监事会，公司第二届监事方海欧先生、袁峰先生、张 安先生将不再担任公司 ...

证券代码：301049 证券简称：超越科技 公告编号：2025-035 安徽超越环保科技股份有限公司 关于增加董事会成员人数暨选举职工代表董事的公告 二、备查文件 1、职工代表大会决议。 特此公告。 安徽超越环保科技股份有限公司 董事会 2025 年 9 月 12 日 本公司及董事会全体成员保证信息披露的内容真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 一、选举职工代表董事的情况 安徽超越环保科技股份有限公司（以下简称"公司"）于 2025 年 9 月 12 日召开 2025 年第一次临时股东大会，审议通过了《关于增 加董事会成员人数、修订<公司章程>的议案》。根据修订后的《公司 章程》规定，董事会成员人数由 7 名变更为 8 名，新增 1 名董事为职 工代表董事，由职工代表大会选举产生。 为完善公司治理结构，公司于 2025 年 9 月 12 日召开了职工代表 大会，经全体与会职工代表表决，选举方海欧先生（简历详见附件） 为第二届董事会职工代表董事，任期自本次职工代表大会选举之日起 至第二届董事会任期届满之日止。 方海欧先生当选公司职工代表董事后，公司第二届董事会中兼任 公司高级管理人员以及由职 ...

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。 为进一步加强与投资者的互动交流，安徽超越环保科技股份有限 公司（以下简称"公司"）将参加由安徽证监局指导、安徽上市公司 协会与深圳市全景网络有限公司联合举办的"2025 年安徽上市公司 投资者网上集体接待日"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（https://rs.p5w.net），或关注微信公众号：全景财经，或下 载全景路演 APP,参与本次互动交流，活动时间为 2025 年 9 月 15 日 （周一）15:00-17:00。届时公司高管将在线就公司业绩、公司治理、 发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关 心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 证券代码：301049 证券简称：超越科技 公告编号：2025-033 安徽超越环保科技股份有限公司 关于参加 2025 年安徽辖区上市公司投资者网上集体接待日 活动的公告 安徽超越环保科技股份有限公司 董事会 2025 年 9 月 9 日 ...

Core Viewpoint - The article discusses the evolution of autonomous driving technology, particularly focusing on the transition from end-to-end systems to Vision-Language-Action (VLA) models, highlighting the differing approaches and perspectives within the industry regarding these technologies [6][32][34]. Group 1: VLA and Its Implications - VLA, or Vision-Language-Action Model, aims to integrate visual perception and natural language processing to enhance decision-making in autonomous driving systems [9][10]. - The VLA model attempts to map human driving instincts into interpretable language commands, which are then converted into machine actions, potentially offering both strong integration and improved explainability [10][19]. - Companies like Wayve are leading the exploration of VLA, with their LINGO series demonstrating the ability to combine natural language with driving actions, allowing for real-time interaction and explanations of driving decisions [12][18]. Group 2: Industry Perspectives and Divergence - The current landscape of autonomous driving is characterized by a divergence in approaches, with some teams embracing VLA while others remain skeptical, preferring to focus on traditional Vision-Action (VA) models [5][6][19]. - Major players like Huawei and Horizon have expressed reservations about VLA, opting instead to refine existing VA models, which they believe can still achieve effective results without the complexities introduced by language processing [5][21][25]. - The skepticism surrounding VLA stems from concerns about the ambiguity and imprecision of natural language in driving contexts, which can lead to challenges in real-time decision-making [19][21][23]. Group 3: Technical Challenges and Considerations - VLA models face significant technical challenges, including high computational demands and potential latency issues, which are critical in scenarios requiring immediate responses [21][22]. - The integration of language processing into driving systems may introduce noise and ambiguity, complicating the training and operational phases of VLA models [19][23]. - Companies are exploring various strategies to mitigate these challenges, such as enhancing computational power or refining data collection methods to ensure that language inputs align effectively with driving actions [22][34]. Group 4: Future Directions and Industry Outlook - The article suggests that the future of autonomous driving may not solely rely on new technologies like VLA but also on improving existing systems and methodologies to ensure stability and reliability [34]. - As the industry evolves, companies will need to determine whether to pursue innovative paths with VLA or to solidify their existing frameworks, each offering unique opportunities and challenges [34].

Core Viewpoint - The recent financial report of ChaoYue Technology (301049) shows significant declines in revenue and net profit, indicating serious operational challenges and a deteriorating financial position [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 was 78.08 million yuan, a decrease of 46.21% year-on-year [1]. - The net profit attributable to shareholders was -58.93 million yuan, down 203.67% compared to the previous year [1]. - The gross margin was -31.12%, a decline of 368.1% year-on-year, while the net margin was -76.93%, down 459.52% [1]. - The total of selling, administrative, and financial expenses reached 25.41 million yuan, accounting for 32.58% of total revenue, an increase of 66.42% year-on-year [1]. Cash Flow and Investment Summary - Operating cash flow per share improved to 0.12 yuan, an increase of 135.67% year-on-year, attributed to reduced raw material expenditures [2]. - The net cash flow from investing activities increased by 62.26%, due to decreased project construction investments [2]. - The net cash flow from financing activities decreased by 114.05%, primarily due to increased loan repayments [3]. Business Evaluation - The company's historical return on invested capital (ROIC) has been weak, with a median ROIC of 21.46% since its listing, and a particularly poor ROIC of -12.42% in 2023 [4]. - The company has experienced three years of losses since its listing, indicating a fragile business model [4]. - Current cash flow ratios are concerning, with cash and cash equivalents covering only 5.56% of current liabilities, and the average operating cash flow over the past three years covering only 11.06% of current liabilities [4].

Core Viewpoint - The company, 超越科技, reported significant declines in both revenue and net profit for the first half of 2025, indicating potential challenges in its operational performance [1] Financial Performance - The company achieved operating revenue of 78.08 million yuan in the first half of 2025, a year-on-year decrease of 46.21% [1] - The net profit for the same period was -58.93 million yuan, reflecting a year-on-year decline of 203.67% [1] - The basic earnings per share were -0.63 yuan, indicating a loss per share [1] - The weighted average return on equity (ROE) was -9.00%, suggesting negative returns for shareholders [1]

Group 1 - The core viewpoint of the article is that ChaoYue Technology (301049.SZ) has reported an increase in institutional investor holdings in its A-shares, reflecting growing interest from both domestic and foreign investors [1] - As of August 25, 2025, a total of 4 institutional investors disclosed holdings in ChaoYue Technology, with a combined shareholding of 1.9565 million shares, accounting for 2.08% of the total share capital [1] - The institutional holding ratio increased by 0.89 percentage points compared to the previous quarter, indicating a positive trend in institutional investment [1] Group 2 - One new public fund was disclosed during this period, specifically the NuAn Duo Strategy Mixed A fund [1] - Two foreign institutions disclosed their holdings, namely J.P. Morgan Securities PLC - proprietary funds and Barclays Bank PLC, indicating an increase in foreign investment interest [1]