Group 1: Company Overview - Beijing Huaru Technology Co., Ltd. is transitioning from "military simulation" to "military intelligence" with its core brand XSim® [2][3] - The company leverages over ten years of product accumulation and industry cases in the military simulation sector to enhance its military intelligence capabilities [8] Group 2: XSim® Military Intelligence System - The XSim® military intelligence system is based on a new generation of military simulation and AI technologies, aiming to support China's defense technology in entering the "intelligent victory era" [3] - The system includes the XSimVerse® military large model, which integrates military-specific knowledge and simulation technology for military decision-making and training [3][4] Group 3: Five Application Areas - The military intelligence business covers five key application areas: 1. **Intelligent Decision-Making**: Enhances decision-making processes through an AI-driven OODA (Observe-Orient-Decide-Act) system [4] 2. **Virtual Training**: Provides realistic training experiences through a closed-loop training system combining military models and simulation technology [4] 3. **Digital Testing**: Integrates digital parallel testing environments with military models to enhance the authenticity and complexity of weapon testing [4] 4. **Training Equipment**: Develops advanced training equipment using AI and simulation technologies to create realistic battlefield environments [4] 5. **Intelligent Equipment**: Constructs a collaborative system for unmanned equipment using military models to optimize battlefield decision-making [5] Group 4: Product Innovations - The XSimStudio V7 product offers a fully intelligent modeling and simulation process, including capabilities for intelligent code generation and real-time situation analysis [5] - The XSimWorld® digital battlefield platform aims to create a high-fidelity digital battlefield environment, enhancing military intelligence applications [6] Group 5: Competitive Landscape - Key international competitors in military intelligence include: 1. **Palantir Technologies**: Provides detailed battlefield information and optimizes decision-making processes for military operations [9] 2. **Anduril Industries**: Develops AI-driven systems that integrate data from various sensors to enhance situational awareness and decision-making [10]

中信证券股份有限公司 关于北京华如科技股份有限公司 部分首次公开发行前已发行股份上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）作为北京华 如科技股份有限公司（以下简称"华如科技"、"公司"）首次公开发行股票并在 创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《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》等相关法律法规和规范性文件的规定，对华如科技首次部分 首次公开发行前已发行股份上市流通事项进行了审慎核查，核查意见如下： 一、首次公开发行前已发行股份概况 2022 年 12 月 23 日，公司首次公开发行网下配售限售股上市流通，数量为 1,361,098 股，占公司总股本的 1.29%。 2023 年 6 月 26 日，公司部分首次公开发行前已发行股份上市流通，数量为 47,025,000 股，占公司总股本的 29.72%。 （二）首次公开发行前已发行股份的限售股形成后至今公司股本数量变化情 况 公司于 2023 年 5 月 18 日召开 2022 年年度股东大会审议通过《关于 2022 年度 利润 ...

证券代码：301302 证券简称：华如科技 公告编号：2025-030 北京华如科技股份有限公司 关于部分首次公开发行前已发行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公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、本次解除限售的股份为北京华如科技股份有限公司 (以下简称"公司"或 "发行人") 部分首次公开发行前已发行股份。 2、本次解除限售的股东户数共计 5 户，解除限售的股份数量为 71,625,000 股，占公司总股本的 45.9532%，限售期为自公司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上市流通日期为 2025 年 6 月 23 日（星期一）。 一、 首次公开发行前已发行股份概况及上市后股本变动情况 1、首次公开发行股份情况 公司于 2023 年 5 月 18 日召开 2022 年年度股东大会审议通过《关于 2022 年 度利润分配及资本公积金转增股本预案的议案》，同意以公司总股本 105,470,000 股为基数，每 10 股以资本公积金转增股本 5 股，共计转增 52,735,000 股。上述 方案已于 2023 年 6 ...

Market Overview - The Shanghai Composite Index closed at 3377.00 points, remaining above the six-month moving average, with a decline of 0.75% [1] - The total trading volume of A-shares reached 15039.97 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 52 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Jieqiang Equipment (300875) with a deviation rate of 11.63% and a daily increase of 20.01% [1] - Jihua Group (601718) with a deviation rate of 9.85% and a daily increase of 9.96% [1] - Hongxing Development (600367) with a deviation rate of 9.35% and a daily increase of 10.03% [1] Stocks with Smaller Deviation Rates - Stocks with smaller deviation rates that have just crossed the six-month moving average include: - Guangsha Huaneng (乖离率较小) [1] - Hualitai (乖离率较小) [1] - Chuan Investment Energy (乖离率较小) [1]

Financial Performance - In 2024, the company reported operating revenue of 249.35 million yuan, a decrease of 31.12% compared to 362.03 million yuan in 2023 [1][2] - The net profit attributable to shareholders was -354.30 million yuan, worsening from -221.63 million yuan in the previous year, representing a decline of 59.86% [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -367.13 million yuan, compared to -241.84 million yuan in 2023, a decrease of 51.81% [1][2] - The net cash flow from operating activities was -94.39 million yuan, significantly worse than -0.25 million yuan in the previous year [1][2] Quarterly Performance - In Q1 2025, the company achieved operating revenue of 37.94 million yuan, a slight increase of 2.15% from 37.14 million yuan in the same quarter of the previous year [3] - The net profit attributable to shareholders for Q1 2025 was -39.78 million yuan, marginally worse than -39.74 million yuan in Q1 2024 [3] - The net cash flow from operating activities improved to -101.29 million yuan from -153.27 million yuan in the same quarter of the previous year, reflecting a 33.91% improvement [3] IPO and Fundraising - The company was listed on the Shenzhen Stock Exchange's ChiNext board on June 23, 2022, with an initial stock issuance of 26.37 million shares at a price of 52.03 yuan per share [4][5] - The total amount raised from the IPO was 137.20 million yuan, with a net amount of 127.52 million yuan, exceeding the original plan by 47.52 million yuan [4] - The funds raised are intended for projects including a new generation of combat systems and a multidisciplinary collaborative design and simulation testing platform [4]

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Beijing Huaru Technology Co., Ltd., which focuses on military simulation and related services [1][2] - As of June 6, the company's stock closed at 23.96 yuan, with a market capitalization of 3.735 billion yuan and a price-to-book ratio of 2.22, marking a new low in 11 days [1] - The latest quarterly report for Q1 2025 shows the company achieved operating revenue of 37.9373 million yuan, a year-on-year increase of 2.15%, while net profit was -39.784 million yuan, reflecting a slight year-on-year decrease of 0.11% [1] Group 2 - The company is primarily engaged in military simulation, relying on three foundational engineering aspects: platform, model, and data, to meet simulation needs for combat experiments, training, equipment verification, and comprehensive support [1] - The main products include joint air-sea combat experimental systems, mission planning systems, and joint warfare simulation systems [1] - The company is held by six institutions, including three funds, two other entities, and one social security fund, with a total holding of 4.7761 million shares valued at 10.7 million yuan [1]

证券代码：301302 证券简称：华如科技 公告编号：2025-029 北京华如科技股份有限公司 关于股份回购进展情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北京华如科技股份有限公司（以下简称"公司"）于 2024 年 10 月 24 日召 开第五届董事会第七次会议，审议通过了《关于回购公司股份方案的议案》， 同意公司使用自有资金以集中竞价交易方式回购部分公司股份，用于实施股权 激励计划或员工持股计划。本次回购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），回购价格不超过人民币 26.00 元/股（含）。 按本次回购资金总额上限人民币 4,000 万元，回购股份价格上限 26.00 元/股进 行测算，预计可回购股份数量为 1,538,461 股，约占公司当前总股本的 0.99%； 按本次回购资金总额下限人民币 2,000 万元，回购股份价格上限 26.00 元/股进 行测算，预计可回购股份数量为 769,231 股，约占公司当前总股本的 0.49%， 具体回购股份的金 ...

Group 1: Company Overview - Beijing Huaru Technology Co., Ltd. focuses on military simulation and AI integration, evolving its core brand XSim® from military simulation to military intelligence [2][3] - The company aims to support China's defense technology advancement into the "Intelligent Victory Era" through its new generation military intelligence system [3] Group 2: XSim® Military Intelligence System - The XSimVerse® military model integrates military domain knowledge with general models, supporting military decision-making, virtual training, digital experiments, training equipment, and intelligent equipment [5][6] - The military intelligence business covers five application areas: intelligent decision-making, virtual training, digital experiments, training equipment, and intelligent equipment [6][7] Group 3: Application Areas - **Intelligent Decision-Making**: Enhances decision-making processes for equipment validation, task planning, and operational support using AI tools [6] - **Virtual Training**: Provides realistic training experiences through a closed-loop training system that combines military models and simulation technology [6] - **Digital Experiments**: Merges digital testing environments with military models to improve the authenticity and complexity of weapon testing [6] - **Training Equipment**: Develops advanced training equipment that simulates real combat environments to enhance trainees' capabilities [7] - **Intelligent Equipment**: Constructs a collaborative system for unmanned equipment, optimizing battlefield awareness and operational efficiency [7] Group 4: AI Toolset - The AI toolset includes five products: XSimStudio® for intelligent simulation, XSimWorld® for digital battlefield creation, XSimAgent© for model training, XSimForce for digital troop modeling, and XSimLink® for real-time mapping [8] Group 5: Drone Simulation Training System - The drone simulation training system utilizes distributed simulation technology, offering realistic environments and diverse training modes, including single and multi-operator training [8] Group 6: Cloud Brain for Unmanned Systems - The "Cloud Brain" system addresses challenges in unmanned systems' intelligence levels and coordination, utilizing edge computing and AI technologies for enhanced operational capabilities [9] Group 7: Market Demand and Brand Development - The integration of military models and AI tools has increased potential customer demand through product upgrades [9] - The company is nurturing its subsidiary "Xiaoru Culture" to innovate in the digital cultural sector, focusing on online game development and IP derivative products [9]

北京华如科技股份有限公司 关于完成工商变更登记的公告 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。 北京华如科技股份有限公司（以下简称"公司"）于2025年4月17日召开第 五届董事会第八次会议、于2025年5月14日召开2024年年度股东会，审议通过了 《关于变更公司经营范围及修订<公司章程>的议案》。具体内容详见公司于 2025年4月21日在巨潮资讯网（https://www.cninfo.com.cn）披露的《关于变 更公司经营范围及修订<公司章程>的公告》（公告编号：2025-014）。 近日，公司完成工商变更登记手续，并取得了北京市海淀区市场监督管理 局换发的《营业执照》，相关信息如下： 证券代码：301302 证券简称：华如科技 公告编号：2025-028 名称：北京华如科技股份有限公司 统一社会信用代码：91110108587705789X 类型：股份有限公司（上市、自然人投资或控股） 住所：北京市海淀区西北旺东路10号院东区14号楼君正大厦B座三层301- 305室、四层401-410室 法定代表人：韩超 注册资本：15586.5万元 成立日 ...

Group 1: Shijia Photon - The company reported that changes in international trade policies have limited impact, as it is addressing tariff policies through overseas capacity layout and diversification strategies [1] - In Q1, the gross margin significantly increased due to product structure upgrades, process optimization, yield improvements, and customer structure optimization [1] - The company is making progress in data centers, access networks, and laser radar and sensing markets, with plans to deepen process advantages and accelerate product industrialization [1] - Global capacity layout for MPO products and stable supply ensured for MT connectors through investments and long-term agreements [1] - The existing production line for WG products meets order demands, with future capacity adjustments based on market conditions [1] - Revenue and profit are expected to continue growing in Q1 2025, driven by rapid growth in computing power demand and the data communication market [1] - The construction of the Thailand production base is progressing steadily, with core team formation and skills training meeting expectations [1] - The company maintains a cautiously optimistic outlook for the market and operational conditions in 2025 [1] Group 2: Canrui Technology - The company expects a 24.36% year-on-year increase in revenue for 2024, but net profit is projected to turn negative due to intense market competition, high R&D expenses, impairment losses, and losses in the testing business [2] - Revenue from smart sensor chips is expected to grow by 32.61%, while power management chip growth is only 5.04% [2] - The total cost of equity incentives for 2024 is projected to be 20.68 million yuan, amortized over three years [2] - In Q1 2025, revenue is expected to reach 125 million yuan, an 8.86% year-on-year increase, with gross margin rising to 28.12% [2] - The company is enhancing profit margins through internal growth and external expansion in the competitive analog chip industry [2] - A new share buyback program has accumulated the purchase of 1,155,191 shares, costing 31,898,161.44 yuan [2] Group 3: Huaru Technology - The company highlighted the characteristics of leading foreign military intelligence enterprises and introduced the XSimVerse military model with five application areas: intelligent decision-making, virtual training, digital testing, training equipment, and intelligent equipment [3] - The company emphasized the upgrade advantages from military simulation to military intelligence, forming a closed-loop system through simulation systems and corpus resources [3] - Despite facing procurement restrictions from military networks, the company can still secure orders through alternative channels and increase potential customer demand through product iterations [3] - As of December 31, 2024, the company has signed new contracts worth 376 million yuan [3] Group 4: Changsheng Fund - As of now, Changsheng Fund has an asset management scale of 86.128 billion yuan, ranking 64th out of 210 [3] - The asset management scale for non-monetary public funds is 55.698 billion yuan, ranking 67th out of 210 [3] - The fund manages 136 public funds, ranking 54th out of 210, with 22 public fund managers, ranking 63rd out of 210 [3] - The best-performing public fund product in the past year is Changsheng Urbanization Theme Mixed A, with a latest net value of 1.62 and a growth of 53.12% over the past year [3]