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科大讯飞: 2025年度向特定对象发行股票募集资金使用可行性分析报告

Fundraising Plan - The company plans to raise a total of up to 400,000.00 million yuan through a targeted stock issuance, with the funds allocated to specific projects totaling 432,571.00 million yuan [1] - The funds will be used for the development of the Spark Education Large Model and typical product projects, with an investment total of 112,571.00 million yuan and a planned use of 80,000.00 million yuan from the raised funds [1][2] Project Overview - The Spark Education Large Model project aims to integrate high-quality data resources and expertise in the education sector to enhance the model in line with new educational standards and requirements [1][2] - The project will focus on continuous upgrades and iterations to improve the model's adaptability and effectiveness in educational applications [2][3] Market and Policy Environment - The Chinese government emphasizes the importance of artificial intelligence in education, promoting digital transformation in the education sector through various strategic plans [2][3][9] - Multiple provinces have initiated action plans to integrate AI into education, indicating a strong policy support for the project [3][9] Competitive Advantage - The company has established a leading position in the smart education sector over 21 years, with its products widely adopted in over 50,000 schools [6][10] - The AI Learning Machine has received high user satisfaction ratings and has been recognized as a top product in the high-end learning machine market [7][10] Technological Foundation - The company has a strong R&D team and has achieved significant breakthroughs in AI technologies, maintaining a leading position in various international assessments [11][12] - The Spark Large Model is built on a fully autonomous and controllable foundation, ensuring the safety and ethical standards required for educational applications [13][14] Financial Implications - The fundraising will enhance the company's financial structure, increase total assets and net assets, and reduce financial risk [23] - The funds will support ongoing high R&D investments and accommodate the growing operational scale of the company [22][23]