股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 中軟國際有限公司 第 1 頁 共 10 頁 v 1.1.1 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00354 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.05 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.05 | HKD | | 200,000,000 | 本月底法定/註冊 ...

Investment Rating - The investment rating for the company is "Buy," indicating a potential return exceeding 10% relative to the CSI 300 index over the next six months [20]. Core Insights - The company is focusing on a multi-dimensional layout in the "AI + HarmonyOS" market, leveraging its partnership with Huawei to enhance its service offerings across various sectors including finance, government, and energy [2][3]. - The company has experienced a revenue growth decline during the transition period from 2023 to 2024, with expected growth rates of -14.44% and -0.97% respectively, but anticipates a recovery with growth rates of 6.74% and 9.37% in the following years [2][13]. - The company aims to build a comprehensive AI technology stack, including AI-native ERP solutions and various AI applications tailored for key industries [2][3]. Summary by Sections 1. IT Services and Business Outlook - The company is stabilizing its IT service core business, focusing on AI and HarmonyOS integration, and has maintained its leading position in the Huawei cloud ecosystem for seven consecutive years [2][3]. - Revenue projections for 2024 show a total of approximately 16,950.73 million, with a slight decline expected, followed by a recovery in subsequent years [11][16]. 2. Revenue Forecast - The Technical Professional Services Group (TPG) is expected to see a revenue decline of 1.7% in 2024, while the Internet Information Technology Services Group (IIG) anticipates a 4.0% increase due to growth in Agent products and HarmonyOS solutions [13][16]. - Revenue growth rates for TPG are projected at 7.00%, 10.00%, and 10.00% from 2025 to 2027, while IIG is expected to grow at 5.00% annually during the same period [14][15]. 3. Financial Performance - The company's net profit attributable to shareholders is projected to decline by 28.10% in 2024, with subsequent growth rates of 19.46%, 18.21%, and 12.77% in the following years [11][19]. - Earnings per share (EPS) are expected to increase from 0.19 in 2024 to 0.30 by 2027, reflecting a positive trend in profitability [11][19].

Investment Rating - The report maintains a "Buy" rating with a target price of HKD 6.1 per share, indicating a potential upside of 20.6% from the current price of HKD 5.06 [5][7][20]. Core Insights - The company is transitioning into a full-stack AI product and service provider, with significant growth expected from its AIGC (Artificial Intelligence Generated Content) business, which is becoming a key driver of revenue [2][9]. - The company is actively participating in the construction of digital currency systems and exploring opportunities in stablecoins and Real World Assets (RWA) tokenization, leveraging its expertise in big data, AI, blockchain, and cloud computing [4][17]. Financial Performance - For 2024, the company is projected to achieve revenue of RMB 16.95 billion, a slight decline of 1.0% year-on-year, with a net profit of RMB 512.9 million, down 28.1% [8][20]. - The second half of 2024 is expected to show a recovery, with a significant increase in revenue from full-stack AI products and services, which is projected to reach RMB 957 million, accounting for 5.6% of total revenue [2][12]. Strategic Developments - The company is deepening its collaboration with Huawei, enhancing its KaihongOS applications and completing over 200 Huawei cloud CTSP projects, which strengthens its cloud integration and domestic substitution strategy [3][13]. - The company is also focusing on international expansion, establishing a presence in the Asia-Pacific and Middle Eastern markets, and successfully executing projects in digital governance and smart cities [14][16]. Future Projections - Revenue forecasts for 2025 to 2027 are RMB 18.22 billion (+6.1%), RMB 20.01 billion (+9.86%), and RMB 22.32 billion (+11.5%), respectively, with net profits expected to grow significantly during this period [5][20]. - The report emphasizes that the company is in a transitional phase, moving from traditional service adjustments to emerging business growth, supported by national policy initiatives [20].

Investment Rating - The investment rating for the company is "Outperform" [1][5] Core Views - The Hong Kong Special Administrative Region has officially passed the "Stablecoin Ordinance," establishing a licensing system for the issuance of legal tender stablecoins, which is expected to enhance the regulatory framework for virtual asset activities and maintain financial stability [2][3] - The stablecoin market is projected to grow rapidly, with an expected market size of $2 trillion by 2028. As of June 3, 2025, the global stablecoin market size is approximately $227.3 billion, with major players like Tether and Circle holding significant market shares [3] - The company is deeply engaged in the digital finance sector, providing digital RMB system solutions based on its proprietary microservices technology platform, Toplink, which positions it to benefit from the growth of the stablecoin market [6][9] Summary by Sections Regulatory Developments - The "Stablecoin Ordinance" has been officially enacted, which aims to regulate the issuance of stablecoins in Hong Kong and ensure financial stability [2][3] Market Outlook - The stablecoin market is expected to reach $2 trillion by 2028, indicating a robust growth trajectory. The current market size is around $227.3 billion, with Tether and Circle being the dominant players [3] Company Positioning - The company is focused on the digital finance sector, offering comprehensive solutions for digital RMB system construction and ecosystem development, which includes various operational and regulatory scenarios [6][9] - The company is also involved in infrastructure projects in Hong Kong and has established a joint venture in Saudi Arabia to expand its international presence [7]

Summary of Conference Call Notes Company and Industry Overview - **Company**: 中软国际 (China Software International) - **Industry**: ICT (Information and Communication Technology), Software Development, Cloud Computing Key Points and Arguments - **Hongmeng Ecosystem Growth**: The Hongmeng ecosystem is expected to see significant growth, with related revenues projected to double year-on-year by 2025. Although there may be short-term impacts on Huawei's sales, long-term technological iterations are anticipated to enhance user experience [2][4] - **Hongmeng PC Business**: The Hongmeng PC business includes virtual machine software and hardware PCs. Software will be sold to both ToC (Consumer) and ToB (Business) markets, while hardware PCs will initially target B-end customers, with potential future expansion into the ToC market [2][5] - **ICT Spending Trends**: Operators are showing significant incremental spending in the ICT sector, with a concentration of market share leading to sustained growth rates of 40-50%. Central state-owned enterprises are increasing software investments, driven by AI transformation and demand for new projects [2][7] - **China Software International's Financials**: The company's revenue is expected to remain flat compared to 2021, but profit levels are comparable to those in 2016. The company is transitioning towards productization and new business layouts, with a projected compound annual growth rate (CAGR) of 70-80% over the next three years, and an anticipated gradual increase in gross margin [2][7] - **New Business Segment Impact**: The new product-oriented business segment, which includes self-developed products and services, is expected to reach nearly 1 billion in size by 2024, positively impacting the overall retail proportion and gross margin of the company [2][8] - **Huawei Cloud Business**: Huawei's cloud intelligent business has surpassed 40% of its revenue, with the pure product segment estimated at around 1 billion, expected to grow to 2 billion by 2025, representing over 10% of total revenue [2][9] Additional Important Insights - **Employee Planning at Huawei**: Huawei plans to maintain its workforce at approximately 75,000 employees in 2025, aiming for revenue growth without increasing headcount through AI coding tools and cost optimization [3][10] - **Future Development Events for Huawei**: Key events to watch for Huawei in 2025 include the establishment of joint ventures and product launches. Investors should pay attention to mid-term performance reports, with expectations of over 30% annual growth and potential stock buybacks [3][11]

Financial Performance - The company achieved a revenue of RMB 16.951 billion and an adjusted profit of RMB 650 million during the reporting period, with an investment of RMB 906 million in product and solution R&D[8]. - The company's revenue for 2024 was RMB 16,950,733 thousand, a decrease of 1.0% compared to RMB 17,116,894 thousand in 2023[92]. - Service revenue declined by 1.9% to RMB 16,314,168 thousand from RMB 16,631,560 thousand year-over-year[92]. - Annual profit decreased by 28.3% to RMB 511,145 thousand from RMB 712,667 thousand year-over-year[91]. - Basic earnings per share fell by 22.7% to RMB 20.01 from RMB 25.88 in the previous year[92]. - The adjusted profit for 2024 was RMB 650,240 thousand, an increase of 3.8% from RMB 626,350 thousand in 2023, with an adjusted profit margin of 3.8% compared to 3.7% in 2023[129]. - The company's annual profit attributable to owners was RMB 512,925 thousand in 2024, down 28.1% from RMB 713,394 thousand in 2023, resulting in basic earnings per share of RMB 20.01, a decrease of 22.7%[128]. - The company achieved a compound annual growth rate (CAGR) of 24.6% in total revenue and 30.8% in service revenue since its listing in 2003[102]. Research and Development - The company invested RMB 906 million in product and solution R&D[8]. - R&D expenses for 2024 were RMB 906,274 thousand, a decrease of 16.0% from RMB 1,078,296 thousand in 2023, with a focus on AI and ERP solutions[119]. - The company has developed over 50 general AI algorithms and launched 6 industry-specific smart terminal products, successfully implementing real-time monitoring in various scenarios across cities[16]. - The company has established a technology innovation center to enhance AI service capabilities, integrating AI computing services and engineering[94]. - The company has developed a self-research AI financial analysis tool that automates report generation and provides interactive decision support[22]. AI and Technology Integration - The company launched the Agentic AI platform suite Lumi and Lumi ONE, along with the training and inference integrated platform ARK Foundry, significantly shortening the innovation cycle for AI applications[12]. - The AI data analyst Agent, based on the AI native application engine, enhances data analysis efficiency and supports enterprise management and business decision-making[13]. - The company has established a digital power innovation center in collaboration with Huawei and Beijing Changping Future Science City, integrating DeepSeek models to provide comprehensive AI services[10]. - The model factory has been upgraded to 2.0, offering full lifecycle services from data governance to model training and deployment verification[9]. - The company aims to drive the intelligent upgrade of SMEs by integrating AI Agent service scenarios into their operations[12]. Market Expansion and Partnerships - The company has established a joint venture in Saudi Arabia as a strategic center for the Middle East market, signing a memorandum of cooperation with Huawei to promote regional digital development[21]. - The company is expanding its global market presence, using Hong Kong as a hub to reach Asia-Pacific and Middle Eastern regions[26]. - The company has partnered with state-owned banks and leading city commercial banks for AIGC projects, demonstrating its capabilities in the financial sector[20]. - The company has secured contracts worth HKD 410 million for the Hong Kong Police Central Digital Imaging Platform project, establishing a benchmark for government-controlled IT[21]. - The company has established cloud excellence centers (CCOEs) in key cities to enhance localized service capabilities and support AI cloud transformation for enterprises[71]. Operational Efficiency and Innovations - The company has achieved a 10x efficiency improvement in core services such as project review and acceptance through AI upgrades, utilizing a knowledge base covering over 100,000 project rules and experiences[39]. - The company has launched an intelligent risk control solution for bills, which automates compliance checks and risk detection, showcasing significant potential for cost reduction and risk management in the financial sector[40]. - The company has successfully implemented AI solutions in multiple sectors, including smart power, government, finance, and healthcare, showcasing the extensive application value of Agentic AI[20]. - The company has launched various AI applications in traditional manufacturing, focusing on enhancing production efficiency and market competitiveness[76]. - The company has established a layered defense architecture for AI applications, ensuring security through fine-grained access control and enhanced isolation mechanisms[33]. Corporate Governance and Compliance - The board of directors includes a mix of executive, non-executive, and independent directors, ensuring diverse expertise[140]. - The company emphasizes the importance of board diversity, considering various factors such as gender, age, and professional background in the selection of candidates[150]. - The audit committee reviewed the group's financial reporting procedures and internal control systems, ensuring compliance with applicable accounting standards[161]. - The company has established a clear delegation of authority to the executive directors and management for daily operations and business strategy[145]. - The company is committed to continuously optimizing its risk management system to enhance its risk management capabilities and ensure long-term growth and sustainability[172]. Social Responsibility and Sustainability - The company is committed to fulfilling corporate social responsibility (CSR) by aligning with SA8000 standards and promoting green innovation[181]. - The company is facing challenges in talent acquisition and retention due to intensified market competition for skilled personnel[181]. - The company is enhancing information security management and has achieved ISO27001 certification while introducing ISO27701 for personal privacy protection[182]. - The company aims to maintain its competitive edge by accelerating the transition from traditional IT services to high-value AI solutions[184]. - The company is committed to building a "healthy win-win" ecosystem with partners to enhance supply chain management and cost control[179].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 16,950,733 thousand, a decrease of 1.0% compared to RMB 17,116,894 thousand in 2023[2]. - The annual profit decreased by 28.3% to RMB 511,145 thousand from RMB 712,667 thousand in the previous year[3]. - Adjusted profit increased by 3.8% to RMB 650,240 thousand from RMB 626,350 thousand in 2023[2]. - Basic earnings per share fell by 22.7% to RMB 20.01 from RMB 25.88 in 2023[4]. - The company reported a total comprehensive income of RMB 502,673 thousand, down from RMB 706,486 thousand in the previous year[4]. - Gross profit for 2024 was RMB 3,741,502 thousand, representing a 6.5% decline from RMB 4,003,076 thousand in 2023, with a gross margin of 22.1%[45]. - The company's administrative expenses decreased by 9.9% to RMB 1,220,082 thousand in 2024, with the expense ratio dropping to 7.2% from 7.9% in 2023[47]. - Research and development costs were RMB 906,274 thousand in 2024, down 16.0% from RMB 1,078,296 thousand in 2023, with the R&D expense ratio at 5.3%[48]. - Other income fell by 43.6% to RMB 241,941 thousand in 2024, primarily due to reduced government subsidies and interest income[50]. - Financial expenses decreased by 13.3% to RMB 175,918 thousand in 2024, with the expense ratio at 1.0% compared to 1.2% in 2023[52]. - The effective tax rate increased to 7.4% in 2024 from 2.9% in 2023, with income tax expenses rising to RMB 56,951 thousand, a 167.6% increase[52]. Revenue Breakdown - Service revenue for 2024 was RMB 16,314,168 thousand, down 1.9% from RMB 16,631,560 thousand in 2023[10]. - The Technology Professional Services Group generated revenue of RMB 14,770,393 thousand in 2024, down from RMB 15,020,564 thousand in 2023[12]. - The Internet Information Technology Services Group reported revenue of RMB 2,180,340 thousand in 2024, an increase from RMB 2,096,330 thousand in 2023[12]. - Revenue from the Technology Professional Services Group decreased by 1.7% to RMB 14,770,393 thousand in 2024, while the Internet Information Technology Services Group saw a 4.0% increase to RMB 2,180,340 thousand[57]. Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.0533 per share for the fiscal year[2]. - The proposed final dividend is HKD 0.0533 per ordinary share, subject to shareholder approval at the annual general meeting on May 20, 2025[71]. - The company plans to hold its annual general meeting on May 20, 2025[73]. - The company will suspend share transfer registration from May 14 to May 20, 2025, to determine shareholder eligibility for voting at the annual general meeting[74]. - The company will also suspend share transfer registration from June 3 to June 6, 2025, to determine eligibility for the proposed final dividend[74]. Assets and Liabilities - Non-current assets increased to RMB 5,642,061 thousand from RMB 4,122,341 thousand in 2023, reflecting a significant growth[5]. - Current liabilities rose to RMB 6,103,164 thousand from RMB 2,962,210 thousand in the previous year, indicating increased financial obligations[6]. - The total equity attributable to the owners of the company decreased to RMB 11,415,975 thousand from RMB 11,742,461 thousand in 2023[6]. - Trade receivables (net of provisions) increased to RMB 5,998,723 thousand in 2024 from RMB 5,304,724 thousand in 2023[21]. - Trade payables rose to RMB 930,191 thousand in 2024, compared to RMB 641,287 thousand in 2023[22]. - The net cash balance for 2024 was RMB 4,747,142 thousand, down from RMB 5,088,641 thousand in 2023, primarily due to increased share buybacks totaling HKD 926,726,800[54]. - The current ratio for 2024 was 2.1, a decrease from 4.4 in 2023, indicating a decline in liquidity[54]. - The group's total borrowings increased to RMB 4,416,097 thousand in 2024 from RMB 3,016,817 thousand in 2023[54]. - The net debt ratio was negative, indicating strong debt repayment capability, as available cash exceeded total borrowings of RMB 4,416,097 thousand in 2024[54]. Strategic Initiatives and Growth - The company established an innovation center to enhance AI service capabilities, integrating AI computing services and engineering[27]. - The company expanded its computing power operations and established multiple data centers, including a collaboration with Huawei[28]. - The JointPilot AI application platform was upgraded, resulting in over 60 AI agents deployed and 30 benchmark cases created[29]. - The company launched a domestic ERP system for the power industry, successfully delivering projects for major state-owned enterprises[30]. - The KaihongOS platform was developed to provide integrated hardware and software solutions, achieving significant advancements in various industries[31]. - The company achieved over 30% growth in Huawei Cloud SMB CORE performance during the reporting period, leading the Huawei Cloud ecosystem[32]. - The company plans to leverage domestic computing power and AI capabilities to enhance enterprise productivity and create long-term value for stakeholders[33]. - The company has established R&D and delivery centers in multiple countries, including Saudi Arabia, to support its international expansion strategy[37]. - The company expanded its presence in the Asia-Pacific and Middle East regions, establishing a joint venture in Saudi Arabia to promote digital transformation[33]. Workforce and Corporate Governance - The total number of employees reached 75,075 by the end of 2024, reflecting a 7.3% increase from the previous year[38]. - Technical personnel comprised 95.6% of the total workforce, with project managers, consultants, and senior engineers making up 36.6% of the technical staff[39]. - The board believes that corporate governance is crucial for the company's success and has adopted various measures to maintain high standards[61]. - The audit committee reviewed and monitored the financial reporting procedures and internal control systems during the fiscal year[69]. - The chairman and CEO roles are currently held by the same individual, which the board believes provides strong and consistent leadership[66]. - The board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors[75]. Future Outlook - The company plans to enhance gross margin by increasing the proportion of high-margin services and accelerating the deployment of AI products and services[49]. - The company aims to improve operational efficiency through self-developed Agent products and AI tools integrated into delivery processes[49]. - The company's performance in the Internet Information Technology Services Group improved by 20.8% when excluding bad debt impacts, despite a reported decline of 40.5%[58]. - The company expects to utilize approximately HKD 394 million for general operating funds by December 31, 2024[60].

Financial Performance - Revenue for the first half of 2024 was RMB 7.926 billion, a decrease of 6.2% compared to the same period in 2023[4] - Service revenue for the first half of 2024 was RMB 7.648 billion, a decrease of 7.8% compared to the same period in 2023[4] - Net profit for the first half of 2024 was RMB 285.353 million, a decrease of 18.6% compared to the same period in 2023[4] - Basic earnings per share for the first half of 2024 were RMB 10.93 cents, a decrease of 12.1% compared to the same period in 2023[4] - Revenue for the first half of 2024 decreased by 6.2% year-on-year to RMB 7,926.183 million[49] - Service income for the first half of 2024 decreased by 7.8% year-on-year to RMB 7,647.920 million[49] - Net profit for the first half of 2024 decreased by 18.6% year-on-year to RMB 285.353 million[49] - The company achieved revenue of RMB 7.926 billion and net profit of RMB 285 million in the first half of 2024[52] - Revenue for the first half of 2024 was RMB 7,926,183 thousand, a 6.2% decrease compared to the same period in 2023[61] - Service revenue for the first half of 2024 was RMB 7,647,920 thousand, a 7.8% decrease year-over-year[61] - Gross profit for the first half of 2024 was RMB 1,831,400 thousand, a 8.5% decrease compared to the same period in 2023[64] - Gross margin for the first half of 2024 was 23.1%, a 0.6% decrease year-over-year[64] - Sales and distribution costs for the first half of 2024 were RMB 425,950 thousand, a 1.2% increase compared to the same period in 2023[67] - Administrative expenses for the first half of 2024 were RMB 1,113,278 thousand, a 8.0% decrease year-over-year[67] - Financial expenses for the first half of 2024 were RMB 99,837 thousand, a 20.2% increase compared to the same period in 2023[68] - Other income for the first half of 2024 was RMB 94,577 thousand, a 34.2% decrease year-over-year[65] - Other gains for the first half of 2024 were RMB 104,890 thousand, compared to a loss of RMB 5,663 thousand in the same period in 2023[66] - Income tax expense for the first half of 2024 was RMB 10,481 thousand, compared to an income of RMB 8,314 thousand in the same period in 2023[68] - The company's available cash balance decreased to RMB 3,937,782 thousand in the first half of 2024, compared to RMB 5,088,641 thousand at the end of 2023[70] - Net current assets decreased to RMB 8,095,537 thousand in the first half of 2024, down from RMB 9,983,119 thousand at the end of 2023[70] - The company's profit for the period decreased by 18.6% to RMB 285,353 thousand in the first half of 2024, compared to RMB 350,687 thousand in the same period last year[71] - Basic earnings per share decreased by 12.1% to RMB 10.93 cents in the first half of 2024, compared to RMB 12.44 cents in the same period last year[71] - Revenue from the Technology Professional Services Group (TPG) decreased by 7.3% to RMB 7,076,954 thousand in the first half of 2024[72] - Revenue from the Internet Information Technology Services Group (IIG) increased by 3.7% to RMB 849,229 thousand in the first half of 2024[72] - Revenue for the six months ended June 30, 2024, was RMB 7,926,183 thousand, a decrease of 6.2% compared to RMB 8,450,060 thousand in the same period of 2023[79] - Gross profit for the six months ended June 30, 2024, was RMB 1,831,400 thousand, down 8.5% from RMB 2,001,135 thousand in the same period of 2023[79] - Net profit attributable to the company's owners for the six months ended June 30, 2024, was RMB 285,720 thousand, a decrease of 18.6% from RMB 351,028 thousand in the same period of 2023[79] - Total assets as of June 30, 2024, were RMB 13,107,051 thousand, a decrease of 7.1% from RMB 14,105,460 thousand as of December 31, 2023[81] - Current assets as of June 30, 2024, were RMB 12,195,876 thousand, down 5.8% from RMB 12,945,329 thousand as of December 31, 2023[81] - Total equity attributable to the company's owners as of June 30, 2024, was RMB 11,379,724 thousand, a decrease of 3.1% from RMB 11,742,461 thousand as of December 31, 2023[83] - Basic earnings per share for the six months ended June 30, 2024, were RMB 10.93 cents, down 12.1% from RMB 12.44 cents in the same period of 2023[79] - Diluted earnings per share for the six months ended June 30, 2024, were RMB 10.56 cents, a decrease of 12.6% from RMB 12.08 cents in the same period of 2023[79] - Non-current assets as of June 30, 2024, were RMB 5,011,514 thousand, an increase of 21.6% from RMB 4,122,341 thousand as of December 31, 2023[81] - Current liabilities as of June 30, 2024, were RMB 4,100,339 thousand, up 38.4% from RMB 2,962,210 thousand as of December 31, 2023[81] - Operating cash flow decreased to RMB -686,433 thousand in 2024 from RMB -731,184 thousand in 2023[87] - Investment cash flow increased to RMB -910,800 thousand in 2024 from RMB -721,980 thousand in 2023[87] - Financing cash flow turned negative to RMB -332,717 thousand in 2024 from RMB 812,612 thousand in 2023[87] - Total revenue decreased to RMB 7,926,183 thousand in 2024 from RMB 8,450,060 thousand in 2023[93] - Revenue from software and hardware sales decreased to RMB 278,263 thousand in 2024 from RMB 154,309 thousand in 2023[94] - Revenue from the Technology Professional Services Group (TPG) decreased to RMB 7,076,954 thousand in 2024 from RMB 7,631,522 thousand in 2023[96] - Revenue from the Internet IT Services Group (IIG) increased to RMB 849,229 thousand in 2024 from RMB 818,538 thousand in 2023[96] - Pre-tax profit decreased to RMB 295,834 thousand in 2024 from RMB 342,373 thousand in 2023[97] - Interest on borrowings increased to RMB 96,377 thousand in 2024 from RMB 77,399 thousand in 2023[98] - Earnings per share decreased to RMB 285,720 thousand in 2024 from RMB 351,028 thousand in 2023[99] - The weighted average number of ordinary shares for calculating basic earnings per share in 2024 was 2,614,104,739, a decrease from 2,821,509,612 in 2023[101] - The weighted average number of ordinary shares for calculating diluted earnings per share in 2024 was 2,706,115,049, down from 2,905,709,398 in 2023[101] - Trade and other receivables (net of provisions) increased to RMB 6,282,802 thousand in 2024 from RMB 5,304,724 thousand in 2023[103] - Receivables within 90 days accounted for RMB 4,162,887 thousand in 2024, up from RMB 4,019,768 thousand in 2023[105] - Trade and other payables decreased to RMB 1,555,845 thousand in 2024 from RMB 1,662,625 thousand in 2023[106] - Total borrowings increased to RMB 3,605,110 thousand in 2024 from RMB 3,016,817 thousand in 2023[108] - The company prepaid HKD 1.65 billion of loans in February 2024, with the remaining HKD 1.35 billion due in December 2025[109] - The average annual interest rate for borrowings in the first half of 2024 was 2.12%, down from 2.19% in 2023[109] - The company's issued and fully paid shares decreased from 3,027,011,358 to 2,809,753,358 between January 1, 2023, and June 30, 2024, with a corresponding reduction in share value from HKD 151,350,569 to HKD 140,487,669[110] - Capital commitments for property, plant, and equipment amounted to RMB 492,657,000 as of June 30, 2024, compared to RMB 542,091,000 at the end of 2023[110] - The company has committed to additional funding of RMB 246,708,000 for equity method investments as of June 30, 2024, down from RMB 276,408,000 in 2023[110] - Revenue from IT outsourcing services to related parties increased to RMB 4,604,000 in the first half of 2024, up from RMB 1,273,000 in the same period of 2023[112] - Employee compensation for the first half of 2024 totaled RMB 6,526,599,000, including director remuneration of RMB 22,389,000, compared to RMB 7,199,889,000 and RMB 11,995,000 respectively in 2023[113] - Amortization of intangible assets and depreciation expenses for the first half of 2024 were RMB 44,638,000 and RMB 130,436,000 respectively, compared to RMB 38,083,000 and RMB 198,267,000 in 2023[113] AI and Technology Transformation - The company focused on AI-driven transformation, establishing AI consulting, industry model training fields, and model factories[5] - The company developed a multi-heterogeneous large model operation management system to optimize computing resource allocation and scheduling[6] - The company launched HR.ai and Fin.ai models to enhance productivity through AI digital employees[11] - The company has achieved deep cooperation with top clients in industries such as finance, energy, and steel for AI pilot projects[12] - The company has successfully implemented NLP and CV training and inference projects, collaborating with leading clients in finance, energy, steel, and pharmaceutical industries[16] - The company has established partnerships with over 100 enterprises and institutions in fields such as scientific research, smart manufacturing, and healthcare, completing more than 100 projects[17] - The company's AI Agent product solutions, including "Ask Data," "Ask Strategy," "Ask Service," and "Ask Vision," have been upgraded and implemented in industries like finance, transportation, and manufacturing[18] - The company has developed the LMBSS system for managing diverse large models, successfully deploying it in projects such as Gui'an Development Group and Nanjing Big Data Bureau[17] - The company has integrated deep learning and data mining technologies to enhance AI support for the oil and gas pipeline industry[16] - The company launched the "Model Factory" service, offering end-to-end large model application R&D services, including model migration, training, and deployment[15] - The company has achieved compatibility certification for its "Ask" series integrated products with Huawei's training servers and AI framework[18] - The company has been selected for the "2023 Computing Power Network Industry Map" at the 2024 Computing Network Integration Development Conference[17] - The company established the Zhongsoft International AIGC Research Institute, focusing on AI model empowerment and data innovation[52] - The company became a partner in the Ascend AI ecosystem, providing AI computing power services across multiple industries[52] - The company is focusing on AI-related solutions and services, promoting local intelligent upgrades, and building cloud intelligence business capabilities in key regions such as Asia-Pacific[54] - The company is strengthening its organizational structure with a "Spearhead-Army-Base Camp" model, focusing on technology IP incubation and AI team formation[54] HarmonyOS Ecosystem - The company collaborated with over 300 application vendors in various fields for HarmonyOS native applications and services[7] - The company served over 500 categories and 400 brand customers in HarmonyOS chip southbound adaptation, with device access reaching tens of millions[7] - KaihongOS achieved full ecosystem connectivity with HarmonyOS Next, solidifying its leading position in the OpenHarmony ecosystem[23] - Upgraded OpenHarmony edge intelligent products, with 17 models and 13 self-developed products currently available[24] - Collaborated with 300+ application manufacturers in the HarmonyOS ecosystem, covering smart travel, life services, finance, government, healthcare, and cultural tourism[25] - Awarded "HarmonyOS Ecosystem Excellent Development Service Provider" and "HarmonyOS Ecosystem Pioneer Partner Award" at Huawei HDC 2024[25] - Cumulative service of 500+ categories and 400+ brand clients in the HarmonyOS chip adaptation business, with device access reaching tens of millions[25] - Approximately HKD 244 million of the net proceeds were used for the development of HarmonyOS and OpenHarmony products and solutions[76] - Secured multiple large-scale Hongmeng application development projects for state-owned banks, joint-stock banks, and leading insurance institutions[33] - Assisted in the release of HarmonyOS 4.2 and the beta launch of HarmonyOS NEXT, enhancing Huawei's smart ecosystem[42] - Collaborated with Huawei to develop the HiCar integrated solution, supporting the release of ADS 3.0 and the launch of AITO M9 and M7 series[42] ERP and Digital Transformation - The company accelerated the layout of the state-owned enterprise ERP application service market, aiming to become a leading provider of digital transformation solutions[8] - The company partnered with SAP to provide customized consulting solutions based on commercial AI technology[8] - The company has aggregated over 6,000 ecosystem partners and provided digital solutions and services to more than 20,000 customers[9] - The company expanded its ERP consulting and implementation services, securing projects with major clients like CNPC, Sinochem Group, and Southern Power Grid[20] - The company has provided data asset services to key clients in the manufacturing sector, including Changan Automobile and Chutian Technology, promoting data assetization and businessization[21] - The company is accelerating its layout in the ERP application service market for central state-owned enterprises, focusing on high-quality solutions and market expansion[54] - The company has established partnerships with over 100 local enterprises for digital transformation services through the Tangshan RPA demonstration center, replicating the model in Xiangyang[29] - The company has successfully implemented smart audit projects for CNOOC and Shandong Energy, and secured the China Postal Savings Bank's new audit project[40] Cloud and Ecosystem Partnerships - The company has established R&D and delivery centers in multiple countries including Thailand, Japan, Singapore, Saudi Arabia, and the UAE[10] - The company has been awarded the "Huawei Cloud Ecosystem Rock Award" twice, ranking first in Huawei Cloud ecosystem partner capability certifications[13] - The company focuses on industries like energy, finance, and government, serving major clients such as Huawei, HSBC, and China Mobile[14] - Business scale with Huawei Cloud grew over 30 times in seven years, winning the "Huawei Cloud Ecosystem Rock Award" in 2022 and 2023[26] - Certified with 8 primary and 10 secondary labels in CTSP cloud services, maintaining the top position among partners[27] - Successfully implemented 40+ CTSP projects in industries such as energy, steel, and pharmaceuticals, collaborating with leading customers on scenario-based applications of large models[27] - Successfully implemented over 20 advanced cloud integration projects in areas such as RPA, big data, and cloud services, including a data base project for a data group company and a cloud RDS project for an energy technology company[28] - Awarded "Annual Service Partner" by Huawei Cloud in the Asia-Pacific region, supporting smart city projects in Malaysia and Saudi Arabia's NEOM digital infrastructure[30] - The company has been the top partner of Huawei Cloud for seven consecutive years and has won the "Huawei Cloud Ecosystem Rock Award" twice[54] - The company is actively participating in open-source database communities and collaborating with ecosystem partners to achieve independent control of key basic software[54] Industry-Specific Solutions - The company launched the first "Fire Hong" solution in collaboration with Huawei, integrating big data, AI, and IoT technologies for smart fire prevention and control[36] - Developed the first water conservancy solution based on KaihongOS, achieving efficient data collection and remote control, winning the "2024 China Enterprise Digital Innovation Solution" award[36] - Released the first gas industry open-source Hongmeng solution "Ran Hong," enabling unified device communication and reducing manual intervention[37] - Introduced the Hongmeng-based smart station solution for urban rail transit, enhancing operational efficiency and passenger experience[38] - Launched four refined product solutions for aluminum industry clients, covering energy management and MES systems, serving over 10 major aluminum enterprises[39] - Promoted AI golden scenarios such as government hotline 12345, grassroots burden reduction, and industrial investment, completing POC verification and case studies in multiple cities[35] - Invested in the "One Field, Three Centers" project in Changping Energy Valley, providing infrastructure and development platform support for AI models and scenario applications in the power industry[34] Shareholder and Corporate Governance - Chairman and CEO Chen Yuhong holds 340,138,144 shares, representing approximately 12.11% of the company's issued share capital as of June

Incentives and Performance Targets - The company granted incentives to certain directors and employees to subscribe for 145,460,000 shares at a price of HKD 5.08 per share[1] - The performance targets for the share incentives are related to the company's financial parameters, including revenue and profit[1] - Non-financial parameters such as strategic goals and operational objectives are also part of the performance criteria for the incentives[1] Supplementary Information - The company maintains that the supplementary information does not affect other data in the 2023 annual report[2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 概要 截至二零二四年上半年業績 截至六月三十日止六個月 二零二四年 二零二三年 損益表概要 （未經審核） （未經審核） 變化 人民幣千元 人民幣千元 % 收入 7,926,183 8,450,060 (6.2%) 服務性收入 7,647,920 8,295,751 (7.8%) 本期溢利 285,353 350,687 (18.6%) 本公司擁有人應佔溢利 285,720 351,028 (18.6%) 每股基本盈利（人民幣分） 10.93 12.44 (12.1%) • 董事不建議就截至二零二四年六月三十日止六個月派發中期股息。 CHINASOFT INTERNATIONAL LIMITED 中軟國際有限公司 * （於開曼群島註冊成立之有限公司） （股份代號：354） 截至二零二四年六月三十日止六個月 中期業績公告 • 本公司不會暫停辦理過戶登記手續。 1 管理層討論與分析 主要運營資料 於二零二四年 ...