证券代码：301236 证券简称：软通动力 软通动力信息技术（集团）股份有限公司 2025 年度向特定对象发行股票预案 （修订稿） 二〇二五年十一月 声 明 1、本公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不 存在虚假记载、误导性陈述或重大遗漏，并对本预案内容的真实性、准确性、 完整性承担个别和连带的法律责任。 2、本预案按照《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司证券发行注册管理办法》等要求编制。 3、本次向特定对象发行股票完成后，公司经营与收益的变化由公司自行负 责；因本次向特定对象发行股票引致的投资风险由投资者自行负责。 4、本预案是公司董事会对本次向特定对象发行股票的说明，任何与之相反 的声明均属不实陈述。 5、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 6、本预案所述事项不代表审批机关对于本次向特定对象发行股票相关事项 的实质性判断、确认或批准，本预案所述本次向特定对象发行股票相关事项的 生效和完成尚待取得有关审批机关的批准或注册。 2 重大事项提示 本部分所述的词语或简称与本预案"释义"中所定义的词语或简称具有相 同的含义。 ...

软通动力信息技术（集团）股份有限公司 证券代码：301236 证券简称：软通动力 公告编号：2025-090 2025 年 11 月 7 日 公司向特定对象发行股票预案（修订稿）的披露事项不代表审批机关对本次 发行股票相关事项的实质性判断、确认或批准。上述预案（修订稿）所述本次向 特定对象发行股票相关事项的生效和完成尚需深圳证券交易所审核通过并经中 国证券监督管理委员会作出同意注册决定后方可实施，敬请广大投资者注意投资 风险。 特此公告。 软通动力信息技术（集团）股份有限公司 董 事 会 关于2025年度向特定对象发行股票预案（修订稿） 披露的提示性公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）于 2025 年 11 月 7 日召开了第二届董事会第二十二次会议和第二届监事会第二十次会议， 审议通过了《公司 2025 年度向特定对象发行股票预案（修订稿）》等相关议案。 《软通动力信息技术（集团）股份有限公司 2025 年度向特定对象发行股票预案 （修订稿）》及相关文件已于同日在符合条件的信息披露网站 ...

软通动力信息技术（集团）股份有限公司 第二届董事会第二十二次会议决议公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）经全体董事一 致豁免会议通知时间，于 2025 年 11 月 7 日发出会议通知，2025 年 11 月 7 日在 公司会议室以现场及通讯表决方式召开了第二届董事会第二十二次会议，会议应 到董事 9 名，实到董事 9 名。会议的召集和召开程序符合有关法律、行政法规、 部门规章、规范性文件和公司章程的有关规定。本次会议由董事长刘天文先生主 持，公司监事和高级管理人员列席了本次会议，经过认真审议，形成如下决议： 一、会议审议通过如下议案 证券代码：301236 证券简称：软通动力 公告编号：2025-088 1、审议通过《关于调整公司 2025 年度向特定对象发行股票方案的议案》 为推进公司 2025 年度向特定对象发行股票工作的顺利开展，根据《上市公 司证券发行注册管理办法》、《证券期货法律适用意见第 18 号》、《监管规则适用 指引——发行类第 7 号》等相关规定，并结合公司实际情况， ...

Investment Rating - The report maintains a "Buy" rating for the company [4][7]. Core Insights - The company has shown a significant improvement in profit quality and sustained growth in its computing product business [1]. - The revenue for the first three quarters of 2025 reached 25.38 billion yuan, reflecting a year-on-year growth of 14.3%, primarily driven by the hardware business acquired from Tongfang Computer [7]. - The company’s gross margin for the first three quarters of 2025 was 11.39%, influenced by the lower margin of newly consolidated computing product business, but showed improvement in Q3 due to product structure optimization [7]. Financial Data and Profit Forecast - Total revenue projections for 2025, 2026, and 2027 are 34.615 billion yuan, 38.788 billion yuan, and 43.865 billion yuan respectively, with year-on-year growth rates of 10.5%, 12.1%, and 13.1% [3][9]. - The net profit attributable to the parent company is forecasted to be 369 million yuan in 2025, 483 million yuan in 2026, and 646 million yuan in 2027, with significant growth rates of 104.5%, 31.0%, and 33.6% respectively [3][9]. - The earnings per share (EPS) are projected to be 0.39 yuan in 2025, 0.51 yuan in 2026, and 0.68 yuan in 2027 [3][9]. Market Data - As of November 4, 2025, the closing price of the stock was 52.99 yuan, with a market capitalization of 41.498 billion yuan [4]. - The price-to-earnings (P/E) ratio is projected to decrease from 280 in 2024 to 78 in 2027, indicating an improving valuation [3][4].

Core Insights - The event held in Guangzhou focused on the development of the computing power industry in the Guangdong-Hong Kong-Macao Greater Bay Area, highlighting the latest progress and achievements of the Shaoguan data center cluster [1][2] Group 1: Industry Development - Shaoguan is designated as a key data center cluster under the "East Data West Computing" initiative, aiming to optimize the computing power industry ecosystem with policies such as computing power vouchers [2][3] - The Shaoguan data center cluster has a capacity to support 120,000 standard racks and 180,000 P of intelligent computing power, with significant infrastructure developments including dual power and water supply systems [2][3] - The local government is committed to supporting the computing power industry, focusing on attracting quality resources and promoting high-quality development in the digital economy [3][4] Group 2: Investment Opportunities - The comprehensive cost of the data industry in Shaoguan is approximately 60% of that in the Greater Bay Area, making it an attractive location for data industry development [4] - A list of computing power application scenarios and capabilities was released, covering various sectors such as education, advanced manufacturing, and energy infrastructure, providing clear collaboration directions for quality projects [4]

Investment Rating - The report maintains a "Recommended" rating for the company [7] Core Insights - The company reported a revenue of 25.383 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 14.30%, and a net profit of 98.8866 million yuan, up 30.21% year-on-year [3] - The third quarter revenue was 9.602 billion yuan, a slight decline of 0.83% year-on-year, while net profit increased by 4.87% year-on-year to 241 million yuan, marking a positive profit for the company by the end of the third quarter [3] - The company has made significant advancements in the intelligent field, achieving the top market share in China's IT service sector for 2024 and launching various AI-driven industry solutions [3][4] Summary by Sections Financial Performance - The company achieved a total revenue of 25.383 billion yuan in the first three quarters of 2025, with a net profit of 98.8866 million yuan [3] - The contract liabilities increased to 1.487 billion yuan by the end of the third quarter, up from 1.096 billion yuan at the mid-year report [3] Product and Technology Innovation - The company launched an AI engineering system and various AI tools, enhancing its digital twin models and simulation software [4] - Strategic partnerships were formed with major clients in various industries, including steel and banking, to drive digital transformation [4] Autonomous and Intelligent Electronics - The company is focusing on domestic production of computing products, achieving over 98% localization in its terminal intelligent products [5] - It has secured significant contracts for AI computing devices and servers, indicating strong demand in the market [5] Robotics and Intelligent Business - The company introduced a series of composite robots and humanoid robots, showcasing its commitment to advancing in the robotics sector [6] - Collaborations with research institutions aim to enhance capabilities in intelligent robotics [6] Investment Outlook - The company is expected to see net profits of 448 million yuan, 706 million yuan, and 952 million yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 114X, 73X, and 54X [8][9]

Market Overview - The A-share market experienced fluctuations on November 3, with the Shanghai Composite Index rising by 0.05% while the Shenzhen Component Index and the ChiNext Index fell by 1.06% and 1.37% respectively [1] - The total trading volume across the market was approximately 1.4 trillion CNY, showing a slight decrease compared to the previous day, with nearly 2,600 stocks declining [2] Sector Performance - Energy sectors such as coal and oil & gas saw gains, with notable increases in stocks like Antai Group, China Coal Energy, and Jincheng Anthracite Mining [13][14] - Conversely, the precious metals sector, particularly jewelry stocks, faced significant declines, with companies like Chow Tai Fook and Lao Feng Xiang experiencing drops of over 7% [6][11] Specific Stock Movements - Chow Tai Fook's stock price fell by 7.62% to 14.060 CNY, leading the decline among the Hang Seng Index constituents [6][11] - The precious metals index dropped, with several companies such as Goldwind and Hunan Gold also reporting significant losses [10][12] - Cleantech saw a sharp decline, with its stock hitting the daily limit down of 20% due to regulatory issues regarding financial data misrepresentation [17][20] Regulatory Impact - A recent announcement from the Ministry of Finance and the State Taxation Administration regarding tax policies on gold trading is expected to impact market sentiment negatively, particularly affecting the global market due to China's status as the largest gold consumer [12][16]

Market Overview - A-shares experienced mixed fluctuations on November 3, with the Shanghai Composite Index rising by 0.05%, while the Shenzhen Component and ChiNext Index fell by 1.06% and 1.37%, respectively [1][2] - The total market turnover was approximately 1.4 trillion yuan, slightly lower than the previous day, with nearly 2,600 stocks declining [2] Sector Performance - The coal, oil and petrochemical, media, and banking sectors saw gains, while lithium battery, precious metals, and semiconductor sectors faced significant declines [2][3] - The precious metals sector, particularly jewelry stocks, experienced a collective drop, with notable declines in companies like Chaohongji and Pengxin Resources [6][7] Hong Kong Market - The Hong Kong market also showed volatility, with the Hang Seng Index up by 0.58% and the Hang Seng Technology Index down by 0.24% [4][5] - Chow Tai Fook led the decline among Hang Seng constituents, dropping over 7% [5][11] Regulatory News - On November 1, the Ministry of Finance and the State Administration of Taxation announced tax policy changes regarding gold transactions, which may impact market sentiment [11][12] Company-Specific Developments - Qingyue Technology's stock hit the daily limit down of 20% due to an investigation by the China Securities Regulatory Commission for suspected financial misconduct [19][20][23] - The stock of Shikong Technology, which had previously seen a significant rise, also fell to its limit down [23] Energy Sector Activity - The coal and oil sectors were active, with companies like Antai Group and China Oilfield Services seeing substantial gains [14][16] - The recent cold weather has increased seasonal demand for coal, which may support prices in the near term [14]

Core Insights - The 2025 High-Quality Development Forum for Listed Companies and the 27th Golden Bull Award Ceremony took place in Nantong, Jiangsu, highlighting the achievements of listed companies in China [1][4] - Softcom Power's Secretary Wang Yue received the "Golden Bull Secretary Award" for outstanding performance and capabilities [1] Group 1 - The Golden Bull Award is a prestigious financial brand established by China Securities Journal, recognized as a significant award in the Chinese capital market [4] - The award aims to create a credible platform for communication and brand display in the capital market, promoting high-quality development among listed companies [5] Group 2 - Softcom Power is guided by four strategic pillars: intelligent, autonomous, green, and international, focusing on software and digital technology services, computing products, and digital energy [5] - The company has successfully expanded its overseas market presence, leading to significant growth in revenue and core competitiveness [5] - For the first three quarters, Softcom Power reported revenue of 25.383 billion yuan, a year-on-year increase of 14.30%, and a net profit attributable to shareholders of 98.8866 million yuan, up 30.21% year-on-year [5]

Group 1: Global Technology Competition - The report outlines three potential scenarios for global technology competition over the next decade: baseline scenario (strategic equilibrium between China and the US), optimistic scenario (China becomes an innovation leader), and pessimistic scenario (China's industrial upgrade falls short) [6][7] - Key technologies are defined as frontier technologies (AI, semiconductors, quantum computing, biopharmaceuticals), advanced manufacturing, and critical infrastructure technologies (energy and advanced networks) [6][7] - The US focuses on invention and innovation, while China aims for large-scale innovation in key industries, with both countries undergoing reforms in their innovation systems [6][7] Group 2: Softcom Power (301236.SZ) - For the first three quarters of 2025, Softcom Power reported revenue of 25.38 billion yuan, a year-on-year increase of 14.30%, and a net profit of 0.99 billion yuan, up 30.21% [15][17] - The company is guided by four strategic directions: intelligence, autonomy, greening, and internationalization, with a focus on enhancing software and digital technology services [16][17] - Future revenue projections for Softcom Power are 35.9 billion yuan, 41.3 billion yuan, and 47.7 billion yuan for 2025-2027, with net profits expected to be 0.384 billion yuan, 0.526 billion yuan, and 0.855 billion yuan respectively [17] Group 3: Dingjie Smart (300378.SZ) - Dingjie Smart's revenue for the first three quarters of 2025 reached 1.614 billion yuan, a 2.6% increase year-on-year, with a net profit of 0.051 billion yuan, up 2.4% [19][21] - The company is experiencing short-term pressure in mainland China but is seeing stable performance in non-mainland markets, driven by deepening applications and market expansion [19][20] - Revenue projections for Dingjie Smart are 2.502 billion yuan, 2.726 billion yuan, and 2.989 billion yuan for 2025-2027, with net profits expected to be 0.191 billion yuan, 0.233 billion yuan, and 0.301 billion yuan respectively [21] Group 4: Hai Tian Wei Ye (603288.SH) - Hai Tian Wei Ye reported a revenue increase of 6.02% to 21.628 billion yuan for the first three quarters of 2025, with a net profit of 5.322 billion yuan, up 10.54% [22][24] - The company experienced a slowdown in revenue growth in Q3, with a 2.48% increase to 6.398 billion yuan, while net profit rose by 3.40% to 1.408 billion yuan [23][24] - The company is focusing on creating new growth points and enhancing efficiency through digital production [24] Group 5: Guizhou Moutai (600519.SH) - Guizhou Moutai's revenue for the first three quarters of 2025 was 130.904 billion yuan, a 6.32% increase, with a net profit of 64.627 billion yuan, up 6.25% [26][28] - The company reported stable sales performance for its flagship Moutai liquor, while other series faced pressure [27][28] - Future earnings per share (EPS) projections for Guizhou Moutai are 72.87 yuan, 77.31 yuan, and 82.70 yuan for 2025-2027, maintaining a "buy" rating [28] Group 6: Xian Cai Co., Ltd. (600095.SH) - Xian Cai Co., Ltd. reported a significant increase in net profit of 203.39% for the first three quarters of 2025, reaching 0.442 billion yuan [46][47] - The company's revenue for Q3 was 0.655 billion yuan, a 43.77% increase year-on-year, driven by a surge in commission income [47][48] - The company is expected to achieve a net profit of 0.608 billion yuan for 2025, reflecting a 456.6% increase [48]