Core Viewpoint - The company has recently launched an equity incentive plan and is focusing on the development of high-speed rail information technology and computing power services, indicating a continuous optimization of its business structure [1]. Business Performance - The company announced an equity incentive plan on September 23, 2025, with a target of achieving a revenue growth rate of no less than 20% in 2026 compared to 2025, marking a key observation point for financial performance in 2026 [2]. Business Development - In a November 2025 investor survey, the company indicated plans to expand its focus on high-speed rail information technology and computing power services, including areas such as 5G new infrastructure and ICT industry applications, to optimize its business structure. Specific progress includes the implementation of computing power service projects and high-speed rail private network orders [3]. Technological Advancement - The company is actively establishing subsidiaries (e.g., Zhejiang Guangmai Zhikuan Technology Co., Ltd.) and forming partnerships (e.g., signing with Shanghai Suiruan Technology) to enhance its computing power services. In the first three quarters of 2025, revenue from asset operation services increased by 30.07% year-on-year, primarily driven by growth in computing power operations. Future project advancements may lead to dynamic business developments [4].
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