农尚环境分析师会议-20250612

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Core View of the Report The company is in a transformation process, focusing on two main areas: comprehensive computing power services and display driver chips. Despite facing competition in these sectors, the management is optimistic about the market prospects. The company plans to adopt a dual - wheel drive development model of technology deep - diving and market expansion in the next 2 - 3 years for both businesses. In 2025, the company aims to strengthen its core competitiveness and achieve good performance to reward investors [50]. 3. Summary by Relevant Catalogs 3.1. Research Basic Situation - Research object: Nongshang Environment [17] - Industry: Engineering construction [17] - Reception time: 2025 - 06 - 12 [17] - Reception personnel: Chairman Lin Feng and Secretary of the Board Jia Chunqi [17] 3.2. Detailed Research Institutions - Types of reception objects: Relevant institutional personnel, investors' online questions, others [20] 3.3. Research Institution Proportion There is no information about the research institution proportion in the provided content. 3.4. Main Content Data - Computing Power Projects - The company's subsidiary acquired a stake in Zhongxin Digital Technology (Aksu) Co., Ltd. Information about the Aksu computing power project will be disclosed according to regulations. The company has no available information about the Shawan area for now. The cooperation with Karamay City's cloud computing industrial park has a 3 - year - valid strategic cooperation framework agreement [40][47][54]. - In 2024, the company's computing power comprehensive service business achieved an operating income of 108.0828 million yuan, accounting for 46.66% of the total operating income, with a gross profit of 15.6034 million yuan [56]. - Chip Business - For detailed information on the display driver chip business, refer to the "Section III Management Discussion and Analysis" in the "2024 Annual Report" disclosed on the Juchao Information Network on April 15, 2025 [23][30][34]. - The company's investment in Xinhe Zhihui has been disclosed in the "Announcement on the Reply to the Annual Report Inquiry Letter of the Shenzhen Stock Exchange" on May 22, 2025 [24][26][43]. - Business Strategy and Development - The company's strategic positioning is to build a full - chain service system in the computing power business and focus on R & D, product development, and market expansion in the display driver chip business [26]. - In the next 2 - 3 years, the company will adopt a dual - wheel drive development model for both computing power and display driver chip businesses, focusing on technological innovation and market expansion [50]. - Stock Price and Market Value Management - The company will implement its established strategy, strengthen the construction of the operation risk management system, expand new computing power business, and shrink the landscaping construction business to improve asset quality, core competitiveness, and promote stock price growth [24]. - The secondary market stock price is affected by multiple factors, and the company does not have the situation of adjusting the stock price for private placement [49]. - Accounts Receivable - The company has strengthened the collection mechanism of accounts receivable and taken effective measures to speed up the recovery [26][48][51]. - Company Name and Business Scope Change - If the company changes its name or business scope, it will fulfill the information disclosure obligation in strict accordance with the regulations [25][33][56]