国元证券股份有限公司 关于科大讯飞股份有限公司 2025年度向特定对象发行股票 之 发行保荐书 保荐机构（主承销商） （安徽省合肥市梅山路 18 号） 二〇二五年十一月 声 明 本保荐机构及保荐代表人根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市 公司证券发行注册管理办法》（以下简称"《注册管理办法》"）《证券发行上 市保荐业务管理办法》（以下简称"《保荐业务管理办法》"）等有关法律、行 政法规和中国证券监督管理委员会的规定，诚实守信，勤勉尽责，严格按照依法 制订的业务规则、行业执业规范和道德准则出具本发行保荐书，并保证所出具文 件的真实性、准确性和完整性。 在本发行保荐书中，除上下文另有所指，释义与《科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书》相同。 3-1-1 | 声 | 明 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ...

证券代码：002230 证券简称：科大讯飞 科大讯飞股份有限公司 与 国元证券股份有限公司 关于 科大讯飞股份有限公司申请向特定对象 发行股票的审核问询函之回复 保荐机构（主承销商） （安徽省合肥市梅山路 18 号） 二〇二五年十一月 深圳证券交易所： 贵所于 2025 年 10 月 24 日出具的《关于科大讯飞股份有限公司申请向特定 对象发行股票的审核问询函》（审核函〔2025〕120041 号）（以下简称"审核 问询函"）已收悉。科大讯飞股份有限公司（以下简称"科大讯飞""发行人" "公司"）会同国元证券股份有限公司（以下简称"国元证券""保荐人""保 荐机构"），发行人律师安徽天禾律师事务所（以下简称"天禾律师""发行人 律师""律师"）和申报会计师容诚会计师事务所（特殊普通合伙）（以下简称 "容诚会计师""申报会计师""会计师"），本着勤勉尽责、诚实守信的原则， 就审核问询函所提问题逐项进行认真讨论、核查和落实，现回复如下，请予审核。 如无特殊说明，本回复中使用的简称或名词释义与《科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书》（以下简称"《募集说明书》"） 一致。 | 黑体 ...

RSM 容诚 容诚专字[2025]230Z2255 号 深圳证券交易所: 关于科大讯飞股份有限公司 申请向特定对象发行股票的审核问询函的回复 容诚专字|2025|230Z2255 号 容诚会计师事务所(特殊普通合伙) 中国 · 北京 目录 | | | --- | | | 关于科大讯飞股份有限公司 申请向特定对象发行股票的审核问询函的回复 贵所于 2025 年 10 月 24 日出具的《关于科大讯飞股份有限公司申请向特定 对象发行股票的审核问询函》(审核函〔2025〕120041 号)(以下简称"审核问 询函"）已收悉。容诚会计师事务所(特殊普通合伙)(以下简称"申报会计师" "会计师"）作为公司本次向特定对象发行股票的申报会计师,本着勤勉尽责、 诚实守信的原则,就审核问询函所提问题逐项进行认真讨论、核查和落实,现回 复如下,请予审核。 如无特殊说明,本回复中使用的简称或名词释义与《科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书》(以下简称"《募集说明书》") 一致。 | 黑体(加粗) | 审核问询函所列问题 | | --- | --- | | 宋体 | 对审核问询函所列问题的回复 | ...

之 上市保荐书 保荐机构（主承销商） （安徽省合肥市梅山路 18 号） 二〇二五年十一月 国元证券股份有限公司 关于 科大讯飞股份有限公司 2025 年度向特定对象发行股票 声 明 国元证券股份有限公司（以下简称"国元证券"或"保荐机构"）接受科大 讯飞股份有限公司（以下简称"科大讯飞""发行人"或"公司"）的委托，担 任科大讯飞 2025 年度向特定对象发行股票的保荐机构。 保荐机构和保荐代表人已根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市 公司证券发行注册管理办法》（以下简称"《注册管理办法》"）等有关法律、 法规、中国证监会及深圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按 照依法制定的业务规则、行业自律规范出具本上市保荐书，并保证所出具文件真 实、准确、完整。 本上市保荐书如无特别说明，相关用语具有与《科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书》中相同的含义。 3-3-1 | | | | （二）发行人有关本次证券发行的股东会会议 | 16 | | --- | --- | | 七、保荐机构关于符合国 ...

科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票 之 补充法律意见书 安徽天禾律师事务所 ANHUI TIANHE LAW OFFICE 地址：合肥市濉溪路 278 号财富广场 B 座东楼 16 层 电话：（0551）62642792 传真：（0551）62620450 法律意见书 * [15] M. C. | | | 第二部分 关于发行人有关事项变化情况 ............................ 14 法律意见书 安徽天禾律师事务所 关于科大讯飞股份有限公司 2025 年度向特定对象发行 A 股股票之 补充法律意见书 天律意[2025]第 02501-1 号 致：科大讯飞股份有限公司 根据《公司法》《证券法》《管理办法》等有关法律、法规、规章及规范性文 件的规定，科大讯飞与本所签订了《聘请专项法律顾问合同》，委托本所律师以 特聘专项法律顾问的身份，参加科大讯飞本次发行工作。 本所律师已就科大讯飞本次发行出具了《安徽天禾律师事务所关于科大讯飞 股份有限公司 2025 年度向特定对象发行 A 股股票之律师工作报告》（以下简称 "《律师工作报告》"）、《安徽天禾律师事务所关于科大讯飞 ...

RSM 容诚 审计报告 科大讯飞股份有限公司 容诚审字[2025]230Z0188 号 容诚会计师事务所(特殊普通合伙) 中国 ·北京 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进 报告编码:京25KT 6-1-1 目 录 | 序号 | 内 容 | 页码 | | --- | --- | --- | | 1 | 审计报告 | 1-7 | | 2 | 合并资产负债表 | 1 | | 3 | 合并利润表 | 2 | | 4 | 合并现金流量表 | 3 | | 5 | 合并所有者权益变动表 | 4 - 5 | | 6 | 母公司资产负债表 | 6 | | 7 | 母公司利润表 | 7 | | 8 | 母公司现金流量表 | 8 | | 9 | 母公司所有者权益变动表 | 9 - 10 | | 10 | 财务报表附注 | 11 - 183 | 6-1-2 审计报告 容诚审字[2025]230Z0188 号 科大讯飞股份有限公司全体股东: 一、审计意见 我们审计了科大讯飞股份有限公司(以下简称科大讯飞)财务报表,包括 2024 年 12 月 31 日的合并及母公 ...

证券代码：002230 证券简称：科大讯飞 公告编号：2025-047 公司本次向特定对象发行 A 股股票事项尚需深圳证券交易所审核通过，并获得中国 证券监督管理委员会同意注册后方可实施。最终能否通过深圳证券交易所审核并获得中国 证券监督管理委员会同意注册的决定及其时间仍存在不确定性。公司将根据上述事项的进 展情况，及时履行信息披露义务，敬请广大投资者谨慎决策，注意投资风险。 科大讯飞股份有限公司 关于2025年度向特定对象发行A股股票审核问询函回复及募集说明 书等申请文件更新的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 科大讯飞股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日收到深圳证券交易 所（以下简称"深交所"）上市审核中心出具的《关于科大讯飞股份有限公司申请向特定 对象发行股票的审核问询函》（审核函〔2025〕120041 号）（以下简称"《审核问询函》"）。 公司会同相关中介机构对《审核问询函》所提出的问题进行了认真研究和逐项落实后，对 《审核问询函》所列的问题进行逐项说明和作出回复，并对募集说明书等申请文件的内容 ...

Core Viewpoint - The article emphasizes that China needs "problem-solving AI" rather than pursuing AGI (Artificial General Intelligence), focusing on practical applications that address real-world issues in education, healthcare, and industry [4][5][6]. Group 1: AI Development and Strategy - By 2025, the global AI industry will enter a "dividend period," but the development paths of China and the U.S. are diverging significantly [5]. - Keda Xunfei's chairman, Liu Qingfeng, outlined four key strategies: self-controllable, integrated hardware and software, industry depth, and personalization [5][12]. - Keda Xunfei's Starfire X1.5 model achieved a training efficiency of 93% compared to NVIDIA A800, showcasing advancements in domestic computing power [10][11]. Group 2: Market Performance and Financials - In 2024, Keda Xunfei led the bidding market with 91 projects and a total bid amount of 936 million yuan, further expanding its lead in 2025 with 108 projects [10][11]. - Despite a 10% revenue growth in Q3 2025, Keda Xunfei's net profit increased by 202%, indicating improved business quality [16][17]. Group 3: Industry Applications - In education, Keda Xunfei developed a comprehensive error analysis system that has been validated by experts, enhancing teaching efficiency [17][18]. - In healthcare, the AI assistant has provided over 11 billion diagnostic aids, significantly improving diagnostic accuracy in grassroots medical settings [19][22]. Group 4: Competitive Advantages - Keda Xunfei's strategy emphasizes deep integration of technology and industry, focusing on long-term relationships with state-owned enterprises and government sectors [23][24]. - The company’s approach to AI is characterized by a focus on personalized services, leveraging user data to enhance AI interactions [25][26]. Group 5: Global Strategy and Positioning - Keda Xunfei's international strategy aligns with the "Belt and Road" initiative, offering sovereign AI models to countries seeking alternatives to U.S. technology [40][42]. - The company aims to provide localized solutions that meet the specific needs of Chinese users, contrasting with the broader AGI ambitions of Silicon Valley [43][44]. Group 6: Future Outlook - The article concludes that Keda Xunfei represents a stabilizing force in China's AI landscape, focusing on practical applications that serve national interests rather than speculative technological pursuits [45][49].

Core Viewpoint - The article emphasizes that China needs "problem-solving AI" rather than pursuing AGI (Artificial General Intelligence), focusing on practical applications that address national and social needs [2][3][43]. Group 1: AI Development Paths - By 2025, the global AI industry will enter a "dividend period," but the development paths of China and the US are diverging significantly [3]. - While US tech giants are losing billions annually in pursuit of AGI, Chinese companies like iFlytek are focusing on commercializing AI to solve real-world problems [3][43]. Group 2: iFlytek's Strategic Approach - iFlytek's chairman, Liu Qingfeng, outlined a four-dimensional strategy: self-controllable, integrated software and hardware, industry depth, and personalization [3][48]. - iFlytek's "Xinghuo X1.5" model is the first general model trained on fully domestic computing power, achieving training efficiency improvements over NVIDIA's A800 [4][6][8]. Group 3: Market Performance and Financials - iFlytek led the bidding market in 2024 with 91 projects and a total bid amount of 936 million yuan, further increasing to 108 projects in the first three quarters of 2025 [8][9][30]. - Despite a 10% revenue growth year-on-year in Q3 2025, iFlytek's net profit increased by 202%, indicating improved business quality [15][16]. Group 4: Industry Applications - iFlytek's AI solutions are deeply integrated into education and healthcare, with tools like the "Intelligent Medical Assistant" significantly improving diagnostic accuracy in rural healthcare settings [17][23]. - The company has developed a comprehensive error analysis system for education, enhancing teaching effectiveness through AI-driven insights [16][17]. Group 5: Competitive Landscape - iFlytek's competitive advantage lies in its long-term data accumulation and deep partnerships with hospitals, making it difficult for competitors to replicate its success [23][24]. - The shift from hardware to software services in AI projects is evident, with clients increasingly valuing ongoing AI capabilities over one-time hardware purchases [35][36]. Group 6: Global Strategy and Positioning - iFlytek's international strategy aligns with China's Belt and Road Initiative, offering "sovereign models" to countries seeking alternatives to US technology [38][40]. - The company aims to leverage its capabilities to serve not just the Chinese market but also to establish a presence in Southeast Asia and Africa [38][40]. Group 7: Conclusion on AI's Role in China - The article concludes that iFlytek represents a pragmatic approach to AI in China, focusing on real-world applications rather than abstract technological ideals [43][48]. - The company's strategy is seen as a response to the unique needs of the Chinese market, emphasizing practical solutions that enhance everyday life [48][49].

Core Viewpoint - The 27th China International High-Tech Achievements Fair (CIHTAF) in Shenzhen showcases advanced technologies and products, attracting over 5,000 companies from more than 100 countries, with a focus on high-end technology and innovation [1][4]. Group 1: Event Highlights - The fair features over 90% of physical exhibits, with more than 100 launch and roadshow events, and over 20% of the exhibits being debut showcases [1]. - The event includes the global debut of the Cyborg-W01 wheeled robot and the establishment of the world's first robot product development design engineering service center in Bao'an District, Shenzhen [1][4]. Group 2: Key Technologies and Products - The Ascend 384 super node, valued at approximately 200 million yuan, consists of 12 computing cabinets and 4 bus cabinets, providing up to 300 PFLOPs of dense BF16 computing power, nearly double that of NVIDIA's GB200 NVL72 system [6]. - A high-precision mid-to-long-range digital lidar, which enhances the detection capabilities of autonomous vehicles, was also showcased, aimed at meeting mass production needs [9]. Group 3: Robotics Focus - Humanoid robots and various types of robots, including cleaning and interactive robots, attracted significant attention at the fair [3][11]. - The robotics industry is rapidly advancing, with Shenzhen's Bao'an District establishing a complete ecosystem from core components to system integration and application scenarios, aiming to bridge the gap between R&D and industrialization [11].