电子城分析师会议-20250926

Report Summary 1. Report Industry Investment Rating - No relevant content provided. 2. Core Viewpoints of the Report - The company is in the process of strategic transformation towards technology services, focusing on enhancing its influence in the capital market, promoting the development of new business sectors, and implementing measures to reverse losses [24][26]. 3. Summary According to the Directory 3.1. Research Basic Situation - Research object: Electronic City [17] - Industry: Real estate services [17] - Reception time: September 26, 2025 [17] - Reception personnel: Vice Chairman and President Zhang Yuwei, Vice President and Board Secretary Zhang Yi, Financial Controller Wu Di, Independent Director Zhang Yichi [17] 3.2. Detailed Research Institutions - Institutions: Investors participating in the company's online semi - annual performance briefing in 2025 [20] 3.3. Research Institution Proportion - No relevant content provided. 3.4. Main Content Data - Quantum technology investment: The company and its subsidiaries do not directly or indirectly hold equity in Bose Quantum. The company released a "2025 Valuation Enhancement Plan" in April 2025 to plan for market value management [24]. - Results of technology transformation: The company has built a technology service business system and model with its own characteristics. In technology industry services, it has created the Zhongguancun (Chaoyang) Industrial AI Industrial Park and completed the landing and system construction of professional R & D service projects. In information and digital services, it has enriched and expanded product solutions such as smart parks/factories and AI + industry applications [24][25]. - Reasons for revenue and profit decline in H1 2025: The company is in a business adjustment phase. The park real estate sector has no new projects under construction, and the inventory project sales pace has slowed down. The new technology service business revenue is 420 million yuan, but it cannot offset the performance gap caused by the real estate sector contraction [26]. - Loss - reversing measures: Accelerate the sales of inventory real estate to improve cash flow and reduce management costs. Promote the development of technology industry services and information and digital services to increase their revenue share and become a new profit growth engine [26]. - Stock price fluctuation and asset restructuring: Stock price fluctuations are affected by multiple factors. Currently, the company has no undisclosed major matters and focuses on strengthening its operating fundamentals [27]. - Software sales and operation and maintenance service development plan: Focus on the "space digitalization" scenario application, iterate smart park and factory solutions, and increase R & D in AI + industry applications to support digital upgrading [27][28].