证券代码：301269 证券简称：华大九天 公告编号：2025-045 北京华大九天科技股份有限公司 关于部分募投项目结项并注销相关募集资金专户的公告 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。 北京华大九天科技股份有限公司（以下简称"公司"）首次公开发行股票募 集资金投资项目（以下简称"募投项目"）"数字设计综合及验证 EDA 工具开发 项目"和"面向特定类型芯片设计的 EDA 工具开发项目"已达到预定可使用状态， 公司决定对上述募投项目进行结项，同时注销"数字设计综合及验证 EDA 工具开 发项目"和"面向特定类型芯片设计的 EDA 工具开发项目"的募集资金专项账户。 根据《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》的相关规定，募投项目节余募集资金低于 500 万元且低于该项目募集资 金净额 5%的，可以豁免履行相关审议程序。现将相关情况公告如下： 三、本次结项的募投项目募集资金使用情况及结余情况 公司本次结项的募投项目"数字设计综合及验证 EDA 工具开发项目"，实施 主体是上海华大九天信息科技有限公司。本项目计划投资 ...

Summary of Conference Call Records Industry Overview - The conference call discusses the software industry in China, focusing on nine companies: Kingsoft Office, Empyrean, Glodon, Thundersoft, Yonyou, Kingdee, iFlytek, ZWSOFT, and Sangfor. [1][2] Key Points and Arguments Revenue Growth and Profitability - Overall revenue growth is expected to recover in 2Q25 compared to 1Q25 due to improving client order momentum, although IT spending in certain segments, such as construction, may face near-term challenges. [1] - Profit growth is anticipated to remain weak in 2Q25, with potential improvement in 2H25 driven by better operational efficiency and headcount optimization. [1] Company-Specific Insights 1. **Kingsoft Office (KO)** - Expected revenue growth of 10% YoY in 2Q25, reaching Rmb1.3 billion, supported by an increase in paying users for upgraded WPS AI features. [7] - Focus on AI features upgrade and extending trial periods to expand the user base. [7] - Earnings revised down by 2% for 2025-27E due to lower revenues from ToB solutions. [16] 2. **Empyrean** - Anticipated revenue growth of 27% YoY in 2Q25, driven by expanding digital/memory EDA tools and increased client spending. [8] - Opex ratio expected to remain high at 114%. [8] - Earnings revised down by 3% for 2025-27E due to lower revenues from analog EDA tools. [20] 3. **Glodon** - Revenue growth projected at 2% YoY in 2Q25, with improving net margin expected at 4.2%. [10] - New business drivers include infrastructure and urban renewal projects. [11] - Earnings revised down by 6% for 2025-28E due to lower revenues from construction cost tools. [26] 4. **Thundersoft** - Expected revenue growth of 20% YoY in 2Q25, supported by IoT business growth from AI edge devices. [13] - Earnings revised down by 5% for 2025-27E due to lower revenues from automotive software. [30] 5. **Yonyou** - Revenue guidance for 2Q25 is in line, with a narrowed net loss expected. [14] - Earnings revised up by 1% for 2026/27E due to higher revenues from Gen-AI spending. [35] 6. **Kingdee** - Expected revenue growth of 13% YoY in 1H25, supported by large-scale enterprise client spending. [14] - Earnings revised up by 1% for 2026/27E due to improved operational efficiency. [38] 7. **iFlytek** - Midpoint revenue growth for 2Q25 is guided at 11% YoY, with a net loss expected due to higher spending on AI models. [15] Market Trends and Strategic Focus - Key questions for the upcoming results season include AI product upgrades, client IT spending outlook, headcount plans, and new business opportunities in vertical expansion and non-China markets. [1] - Companies are focusing on enhancing operational efficiency and exploring new business avenues to drive growth amid challenging market conditions. [1] Additional Important Insights - The conference highlights the importance of AI integration across various software solutions, with companies like Kingsoft Office and iFlytek leading in AI product development. [7][15] - The overall sentiment indicates cautious optimism for the second half of 2025, with expectations of improved profitability as companies adapt to market conditions and enhance their product offerings. [1][8]

Group 1 - Domestic refined oil price adjustment is expected to be suspended, with the new adjustment window opening on July 29. This year, there have been fourteen rounds of price adjustments, resulting in six increases, six decreases, and two suspensions. After adjustments, the domestic gasoline and diesel prices have decreased by 225 yuan and 215 yuan per ton compared to the end of last year. If this round is suspended, the adjustment pattern will change to six increases, six decreases, and three suspensions by 2025 [1] Group 2 - A total of 347.52 billion yuan in market value of restricted stocks will be unlocked today, with 13 companies having a total of 5.65 billion shares released. Four companies have more than 10 million shares unlocked, with Huada Jiutian, Xinghuo Technology, and Changrun Co., Ltd. leading in terms of unlocked shares at 281 million, 146 million, and 110 million shares respectively. In terms of market value, Huada Jiutian, Changrun Co., Ltd., and Xinghuo Technology have the highest unlocked values at 30.899 billion yuan, 1.856 billion yuan, and 1.184 billion yuan respectively [4]

Macro News - The National Bureau of Statistics reported that from January to June, the total profit of industrial enterprises above designated size reached 34,365 billion yuan, a year-on-year decrease of 1.8% [2] - In June, the profit of industrial enterprises above designated size fell by 4.3% year-on-year, although the decline was narrower compared to May, with rapid profit growth in new momentum industries like equipment manufacturing [2] - The Chinese government proposed the establishment of a World Artificial Intelligence Cooperation Organization, with initial considerations for its headquarters to be located in Shanghai [2] Industry and Company News - The Ministry of Agriculture and Rural Affairs and nine other departments jointly issued the "Implementation Plan for Promoting Agricultural Product Consumption," which includes nine measures to optimize supply, innovate circulation, and activate market potential [3] - The State Council's Food Safety Office emphasized increased daily supervision of infant food and disaster relief food to ensure public dietary safety [4] - Tesla showcased its smart electric vehicles and autonomous driving technology at the World Artificial Intelligence Conference, planning to further implement its smart assisted driving system in China by the end of 2025 [14] - Alibaba announced the technological progress of its self-developed AI glasses, "Quark AI Glasses," which integrate various functionalities and support multiple applications within the Alibaba ecosystem [16] - China Mobile's chairman stated the company's commitment to upgrading its "AI+" action plan to enhance technological and industrial innovation, aiming to contribute significantly to high-quality economic development [19] - Taiyuan Heavy Industry announced that it is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [20]

Group 1 - The core viewpoint of the article highlights that a total of 54 stocks in the A-share market will have their restricted shares unlocked from July 28 to August 1, with a total market value of 1026.79 billion yuan being released [1] - Among the stocks, 12 have a market value exceeding 2 billion yuan, with Huada Jiutian leading at 310.25 billion yuan, followed by Shanghai Airport at 142.16 billion yuan and Tongguan Copper Foil at 125.4 billion yuan [1] - The article emphasizes that the unlocking ratio (the number of unlocked shares as a percentage of total shares) is a more significant indicator of potential price impact, with 21 stocks having an unlocking ratio above 10% [1] Group 2 - Huada Jiutian and Luguan Technology are identified as having their original shareholders' restricted shares and strategic placement shares unlocked, while Tongguan Copper Foil has original shareholders' restricted shares unlocked, and Shanghai Airport has shares from a targeted placement unlocked [1] - The article notes that stocks such as Tongguan Copper Foil, Jun Cheng Technology, Beilu Zhikong, and Yidong Electronics have unlocking ratios exceeding 60%, specifically 72.38%, 71.28%, 62.41%, and 60.55% respectively, all being original shareholders' restricted shares [1]

Investment Rating - The report maintains a positive outlook on the computer industry, indicating a "Look Favorably" investment rating for the sector [6][7]. Core Insights - The computer industry is experiencing a low holding ratio, with public fund allocation at 2.6% in Q2 2025, down 0.6 percentage points from the previous quarter, ranking 13th among 30 primary industries [8][9]. - AI remains the main theme for the computer sector throughout 2025, supported by three key factors: the introduction of domestic super-node solutions improving cost-performance, the launch of several foundational large models driving AI applications into commercialization, and continuous innovations across various fields such as stablecoins and 3D printing [9][11]. - The report highlights significant company updates, particularly the official upgrade of iFLYTEK's reasoning large model X1, which enhances capabilities in multiple languages and applications [38][43]. Summary by Sections Investment Allocation - In Q2 2025, the computer industry's public fund allocation decreased to 2.6%, marking a historical low since 2010, with a configuration coefficient of 0.56, down from 0.67 in Q1 2025 [8][9]. - The report suggests increasing positions in Hong Kong-listed computer stocks such as Kingdee and Meitu [6][7]. AI Development - The report identifies three main drivers for the future performance of the computer industry: 1. The launch of domestic super-node solutions that enhance cost-performance and reduce the gap with overseas solutions [9][10]. 2. The introduction of multiple foundational large models that facilitate the commercialization of AI applications [10][11]. 3. Ongoing innovations in various sectors, including stablecoins and 3D printing, which are expected to gain traction [11][12]. Valuation Metrics - As of July 22, 2025, the computer industry’s PE (TTM) stands at 85.4x, placing it in the 93.40% historical percentile, while the PS (TTM) is at 3.4x, in the 48.90% historical percentile [24][25]. - The report notes that current valuation levels exceed those of 2020 and 2023, reflecting optimistic market expectations regarding potential profitability [24][25]. Company Updates - iFLYTEK's reasoning large model X1 has been officially upgraded, showcasing improvements in comprehensive capabilities and multi-language support, with applications in education, healthcare, and enterprise solutions [38][43]. - The report emphasizes the growth trend in AI revenue for iFLYTEK, with significant increases in both consumer and enterprise AI solutions [44]. Market Dynamics - The report discusses the varying rhythms of different technology sectors, influenced by the certainty and traceability of new technologies, with AI applications expected to follow a similar trajectory to cloud computing [36][37]. - The report anticipates a rapid increase in market capitalization for AI-related companies as performance metrics begin to materialize in the latter half of 2025 [37][38].

Investment Rating - The report rates the industry as "Outperform" [1] Core Insights - BYD has achieved a global milestone by realizing L4-level intelligent parking, allowing drivers to be hands-free under specific conditions, with liability on automobile companies [5][12] - xAI has released Grok-4, a next-generation large model that has seen a tenfold increase in reasoning capabilities compared to its predecessor, excelling in various benchmarks and outperforming human graduate-level academic abilities [5][13] - The Ministry of Industry and Information Technology has issued the 2025 Work Points for Integration of Informatization and Industrialization, emphasizing new industrialization and supporting software development, AI empowerment, and digital transformation [5][14] Summary of Related Companies - Recommended targets include: Empyrean Technology, Dameng Data, Beijing Kingsoft Office Software, Newland Digital Technology, Jiangsu Tongxingbao Intelligent Transportation Technology Co., Ltd., Kingdee International Software Group, Hehe Information; related target: Wuxi Unicomp Technology Co., Ltd. [5][11] - BYD's advantages in assisted driving and manufacturing ensure safety for users in the Chinese market, boosting trust in intelligent parking [5][12] - Grok-4 has demonstrated strong capabilities in real-world applications, including significant improvements in voice response speed and performance in complex tasks across various industries [5][13]

Core Viewpoint - The domestic EDA industry has made significant progress in recent years, driven by a strong determination to develop local capabilities in response to international pressures, despite still facing substantial gaps compared to established global players like Synopsys and Cadence [1][3][4]. Group 1: Current State of Domestic EDA - Domestic EDA companies have increased from 1,000 to approximately 7,000 personnel, achieving an 80% coverage of local EDA products [4]. - There are over 110 EDA companies in China, reflecting a strong enthusiasm for developing domestic EDA capabilities [3]. - The investment in domestic EDA has surged post-2020, with a notable increase in the number of companies and personnel involved in the sector [3][4]. Group 2: Challenges and Gaps - The gap between domestic EDA and international leaders is significant, with the latter having a head start and deeper investment in R&D and acquisitions [3]. - Domestic EDA tools still face challenges in functionality, performance, and user experience compared to established products [4]. Group 3: Strategic Initiatives by Huada Jiutian - Huada Jiutian is focusing on self-research, collaborative development, and mergers to strengthen its position in the EDA market [4]. - The company has developed a full suite of EDA tools across various domains, including analog, storage, and RF circuit design [4][5]. Group 4: AI Integration in EDA - EDA is becoming a target for AI transformation, with major international players already experimenting with AI to enhance their tools [8]. - Huada Jiutian has also invested in machine learning and aims to integrate AI into its EDA offerings, focusing on creating a unified structure and intelligent systems [8][9]. Group 5: Product Innovations - Huada Jiutian has introduced tools like Empyrean Andes® Power, which automates the design process, significantly improving efficiency and reducing manual errors [9][10]. - The new platform, Empyrean PyAether®, supports a wide range of chip design needs and offers over 12,000 Python API interfaces for automation [10][11]. Group 6: Future Outlook - The company aims to build a comprehensive service ecosystem that includes tools from other EDA companies, ensuring data security and privacy for clients [11]. - Huada Jiutian is also developing foundational IPs and plans to maintain a dual focus on EDA and IP development for future growth [13].

北京华大九天科技股份有限公司 关于部分首次公开发行前已发行股份及首次公开发行战略配售股份 上市流通的提示性公告 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。 特别提示： 证券代码：301269 证券简称：华大九天 公告编号：2025-044 "公司"或"华大九天"）首次公开发行前已发行的部分股份及首次公开发行部 分战略配售股份； 股，占截至本公告披露日公司总股本的 51.69%，限售期为自公司股票首次公开 发行并上市之日起 36 个月； 一、首次公开发行股票概况 （一）首次公开发行股份情况 经中国证券监督管理委员会《关于同意北京华大九天科技股份有限公司首次 公开发行股票注册的批复》 （证监许可[2022]851 号）同意，公司首次公开发行人 民币普通股（A 股）股票 108,588,354 股，于 2022 年 7 月 29 日在深圳证券交易 所创业板上市交易。 首次公开发行前，公司总股本为 434,353,414 股，首次公开发行股票完成后， 公司总股本为 542,941,768 股，其中无流通限制及锁定安排的股票数量为 票数量为 469,506,205 ...

证券代码：301269 证券简称：华大九天 公告编号：2025-044 北京华大九天科技股份有限公司 关于部分首次公开发行前已发行股份及首次公开发行战略配售股份 上市流通的提示性公告 2023 年 1 月 30 日，公司首次公开发行网下配售限售股上市流通，股份数量 为 4,736,580 股，占公司发行后总股本的 0.87%。具体情况详见公司于 2023 年 1 月 18 日在巨潮资讯网上（http://www.cninfo.com.cn）披露的《关于首次公 开发行网下配售限售股上市流通的提示性公告》（公告编号：2023-001）。 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。 特别提示： 1、本次上市流通的限售股份为北京华大九天科技股份有限公司（以下简称 "公司"或"华大九天"）首次公开发行前已发行的部分股份及首次公开发行部 分战略配售股份； 2、本次解除限售股东户数共计 3 户，解除限售股份的数量为 280,620,322 股，占截至本公告披露日公司总股本的 51.69%，限售期为自公司股票首次公开 发行并上市之日起 36 个月； 3、本次解除限售股份的 ...