Group 1: Company Overview - Beijing Huaru Technology Co., Ltd. focuses on the development of military simulation and intelligence systems, leveraging over a decade of experience in the military simulation industry [2][3]. - The company has transitioned from "military simulation" to "military intelligence" with its core brand XSim®, responding to the future of national defense intelligence [3]. Group 2: XSim® Military Intelligence System - The XSim® military intelligence system is based on simulation and AI, aiming to enhance China's defense technology into the "intelligent victory era" [3]. - The XSimVerse® military model integrates military-specific knowledge into a general model, supporting five application areas: military decision-making, virtual training, intelligent testing, training equipment, and intelligent equipment [4][5]. Group 3: AI Toolset - The AI toolset includes five products: 1. XSimStudio® for intelligent simulation covering the entire process from model development to performance evaluation [5]. 2. XSimWorld® for creating dynamic digital battlefield environments [5]. 3. XSimAgent© for training and optimizing large models [5]. 4. XSimForce for generating multi-domain digital force models [5]. 5. XSimLink® for real-time mapping and collaboration between digital and physical worlds [5]. Group 4: Application Areas - The military intelligence business covers five major application areas: 1. Intelligent decision-making for equipment validation and task planning [6]. 2. Virtual training for skills and tactical training [7]. 3. Intelligent testing for weapon equipment trials [8]. 4. Training equipment for realistic combat training environments [9]. 5. Intelligent equipment for autonomous and collaborative combat capabilities [10]. Group 5: Market and Sales - The company’s primary clients are military and defense industrial enterprises, with a new contract order of CNY 376 million signed by December 31, 2024 [12]. - The company faces restrictions on procurement through military channels but can utilize other platforms for order acquisition [12]. Group 6: Competitive Landscape - Leading foreign companies in military intelligence include Palantir, which provides detailed battlefield information and decision-making support, and Anduril, which integrates data from various sensors for enhanced situational awareness [13]. Group 7: Cultural Initiatives - The wholly-owned subsidiary, Xiaoru Culture, focuses on digital cultural innovation, including online game development and IP derivative product creation [14].

Group 1: Company Overview - Beijing Huaru Technology Co., Ltd. focuses on the development of the "1•5•5•N" next-generation XSim® military intelligence system, leveraging over a decade of experience in military simulation and AI integration [3] - The core brand XSim® represents a transition from "military simulation" to "military intelligence," addressing the future of national defense technology [3] Group 2: Key Products and Technologies - XSimVerse® military model integrates military-specific knowledge into a general model, supporting military decision-making, virtual training, and intelligent equipment across five application areas [4] - The AI toolset includes five products: 1. XSimStudio® for intelligent simulation 2. XSimWorld® for digital battlefield creation 3. XSimAgent© for model training and optimization 4. XSimForce for digital force modeling 5. XSimLink® for real-time mapping and collaboration [5] Group 3: Application Areas - Military intelligence business covers five major application areas: 1. Intelligent decision-making for equipment validation and mission planning 2. Virtual training for tactical and command training 3. Digital testing for weapon systems 4. Training equipment for realistic combat scenarios 5. Intelligent equipment for autonomous operations [6][7] Group 4: Market and Financials - As of December 31, 2024, the company secured new contracts worth CNY 376 million [7] - The company faces restrictions on procurement through military channels but can utilize alternative platforms for order acquisition [7] Group 5: Competitive Landscape - Leading foreign companies in military intelligence include: 1. Palantir, providing detailed battlefield information and optimizing decision-making processes [8] 2. Anduril, integrating data from various sensors for enhanced situational awareness [9]

Summary of Huaru Technology Conference Call Company Overview - Huaru Technology was established on November 23, 2011, focusing on military simulation as its main business. The company aims for domestic substitution and self-control, addressing the military simulation platform issues from its inception. After 13 years of technological accumulation, Huaru has developed a strong technical barrier and created a software platform based on C language, with a model collection covering various military branches, currently possessing around 400-500 models. 90% of its clients are in the military and defense sector, including the military and defense enterprises, establishing a strong first-mover advantage and customer loyalty [3][11]. Core Products and Innovations - The company launched its latest military large model product, constructing a foundational large model framework and reconstructing its AI toolset. This includes the integration of the DeepStateDS open-source large model, enabling intelligent decision-making, virtual training, and digital testing functionalities, thereby enhancing operational planning efficiency and training effectiveness [3][5]. - Huaru's business model encompasses digital twin simulations and inspections before and after equipment construction, as well as intelligent decision-making simulations and numerical testing, extending into intelligent equipment fields such as unmanned cloud brains and military intelligent integrated machines, providing comprehensive solutions for clients [3][9]. Financial Performance and Projections - The company expects rapid development in military AI projects starting in 2025, as AI becomes a national strategy. Huaru anticipates receiving more orders due to its product lineup and demos, with new contracts expected to reach 500 million yuan in 2025. As of 2024, new contracts signed amount to 376 million yuan, with an order backlog of 418 million yuan [3][12][13]. - Huaru has a strong cash flow, with nearly 900 million yuan in cash and cash equivalents and 560 million yuan in accounts receivable as of the third quarter of 2024. The company is confident in its ability to perform well and become a leading player in domestic military AI [3][35]. Market Trends and Competitive Landscape - The military AI industry is expected to see significant growth as AI becomes a national priority. The company is well-positioned to participate in upcoming projects, especially as the 14th Five-Year Plan concludes and the 15th Five-Year Plan begins, with anticipated increases in AI and military AI orders [3][12][21]. - Currently, there are no comparable companies in the domestic A-share market, while international counterparts like Brunswick have a market value of nearly 300 billion USD. This unique position provides Huaru with a competitive edge [3][12]. Business Model and Revenue Structure - Huaru's revenue structure is primarily project-based, divided into three parts: technical development income, software product income, and hardware product income. Approximately 70% of the workload can utilize existing results, while only 30% requires customization based on client needs [3][23][24]. - The company does not adopt a subscription model due to the diverse nature of military projects and funding sources, focusing instead on application products and technical development contracts [3][24]. Advantages and Future Development - Huaru has a significant advantage in military simulation and military AI due to its 13 years of experience and extensive model and project case accumulation. This has created a closed-loop logic that integrates simulation with AI, enhancing decision-making capabilities [3][11][30]. - The company plans to continue developing AI products based on military simulation, leveraging accumulated data to generate comprehensive operational planning solutions [3][25]. Challenges and Solutions - Military clients face unique challenges due to their operational environments, often lacking internet connectivity. Huaru addresses this by deploying trained large model results onto integrated machines within military local area networks, enabling clients to utilize these models for document preparation and other tasks [3][33]. Conclusion - Huaru Technology is positioned to capitalize on the growing military AI market, with a robust financial foundation, innovative product offerings, and a strategic focus on integrating AI into military operations. The company is confident in its future growth and aims to establish itself as a leader in the domestic military AI sector [3][35][36].

证券代码：301302 证券简称：华如科技 公告编号：2025-003 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 ...

Financial Performance Expectations - The company expects a net loss for 2024 between RMB 31 million and RMB 36 million, compared to a loss of RMB 22.16 million in the same period last year[3]. - The net loss after deducting non-recurring gains and losses is projected to be between RMB 32 million and RMB 37 million, compared to a loss of RMB 24.18 million in the previous year[3]. - The company continues to increase R&D investment, contributing to the expected decline in net profit for 2024[6]. Impact of Procurement Ban - The company has been banned from participating in military procurement activities from November 22, 2023, to November 22, 2026, due to violations identified during procurement activities[5]. - The ban has led to a decrease in new orders and project acceptance, resulting in a decline in main business revenue for 2024[6]. - The increase in main business costs is attributed to the termination of projects affected by the procurement ban, leading to a significant rise in costs[6]. Contract and Revenue Information - The company reported new contract orders of RMB 376 million as of December 31, 2024[6]. - The company’s main clients are military and defense industry enterprises, with order acquisition channels including military procurement websites and bidding agencies[6]. Financial Data and Investor Advisory - The financial data in the earnings forecast is preliminary and has not been audited, with detailed financial results to be disclosed in the 2024 annual report[7]. - Investors are advised to exercise caution and consider investment risks based on the preliminary financial data provided[7].

中信证券股份有限公司 关于北京华如科技股份有限公司 2024年度持续督导培训情况的报告 深圳证券交易所： 中信证券股份有限公司（以下简称"中信证券"、"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（2024 年修订）》 《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》对北京华如科 技股份有限公司（以下简称"华如科技"、"公司"）进行了 2024 年度持续督导培 训，报告如下： （七）培训内容： 本次培训从资本市场新规、退市新规、上市公司信息披露、募集资金运用等 方面进行了讲解，并结合相关案例进行分析。本次培训促使上述对象加强理解作 为上市公司管理人员在公司日常规范运作及募集资金合规使用等方面所应承担 的责任和义务。 二、上市公司的配合情况 一、本次持续督导培训的基本情况 （一）保荐机构：中信证券股份有限公司 （二）保荐代表人：刘芮辰、王彬 （三）培训时间：2024 年 12 月 30 日 （四）培训地点：华如科技会议室 （五）培训人员：刘芮辰（保荐代表人）、买鸿翔（持续督导专员） （六）培训对象：公司董事、监事、高级管理人员、中层以上管理人员及控 股股东和 ...

编号：2024-011 证券代码：301302 证券简称：华如科技 北京华如科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-------------------------|----------------------------------------------------| | | √特定对象调研 | □分析师会议 | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □电话会议 | | | □其他 | | | 参与单位名称及 人员姓名 | | 兴业证券：石砾；中航基金：郑常斌；招商基金：王晗； | | | 新华基金：刘海彬。 | | | 时间 | 2024 年 12 月 10 日 | | | 地点 | 公司会议室 | | | 公司接待人员 | | | | 姓名 | 董事会秘书：吴亚光 | | | | 一、公司经营情况介绍 | 公司以军事仿真为主业，致力于打造中国军事仿真 | | 投资者关系活动 | | 自主品牌，在作战实验、模拟训练、装 ...

证券代码：301302 证券简称：华如科技 公告编号：2024-059 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。 法定代表人：韩超 注册资本：15586.5万元 成立日期：2011年11月23日 经营范围：一般项目：软件开发；技术服务、技术开发、技术咨询、技术 交流、技术转让、技术推广；信息技术咨询服务；计算机系统服务；计算机软 硬件及辅助设备批发；计算机软硬件及辅助设备零售；计算机软硬件及外围设 1 北京华如科技股份有限公司（以下简称"公司"）于2024年8月27日召开第 五届董事会第六次会议、于2024年9月19日召开2024年第一次临时股东会，审议 通过了《关于变更公司注册资本及修改<公司章程>的议案》。鉴于公司前期股 份回购方案已实施完毕，已回购的股份2,340,000股全部注销并相应减少注册资 本，需对《公司章程》中相应条款进行修订并办理工商变更登记。具体内容详 见公司于2024年8月29日在巨潮资讯网（http://www.cninfo.com.cn）披露的 《关于变更公司注册资本及修改< ...

证券代码：301302 证券简称：华如科技 公告编号：2024-058 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 ...

编号：2024-010 证券代码：301302 证券简称：华如科技 北京华如科技股份有限公司 投资者关系活动记录表 | --- | --- | |-------------------------|---------------------------------------------------------------------------------------------------| | | √特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | 投资者关系活 动类别 | □新闻发布会 □路演活动 | | | □现场参观 □电话会议 | | | | | 参与单位名称 及人员姓名 | 华泰证券：朱雨时；国元证券：石昆仑；诺昌投资：许 耀文、董亮亮；东北证券：王凤华、黄泽；深圳路演时 | | | 代：高扬洵、程鹏。 | | 时间 | 年 11 月 27 日 | | 地点 | 公司会议室 | | 公司接待人员 姓名 | 董事会秘书：吴亚光 | | | 一、公司经营情况介绍 | | 投资者关系活 | 公司以军事仿真为主业，致力于打造中国军事仿真 | | 动主要内容 | 自主品牌，在作战 ...