实际上，部分上市公司以市场紧缺、时间紧迫、保密要求为由绕过关联交易审议程序的现象并不少见， 但多数企业能在交易发生后很快完成相关审议程序的补充。例如，晨光电缆曾在2020年上半年向关联方 进行3.6万元的紧急需求采购，尽管金额不大，该企业仍在当年8月就进行了补充确认。与之相比，宏景 科技此次的操作有些"姗姗来迟"。 笔者认为，要杜绝此类治理乱象，需强化公司治理。建议企业对核心管理层关联方实施"特别关注清 单"，并保持季度或半年度的更新频率。这样，当清单上的企业出现在客户或供应商名单中时，就能快 速反应、精准抓取。 同时，对于"紧急采购"，要建立快速审批通道并规定事后补审时限，避免因紧急因素造成长期的程序瑕 疵。此外，"保密要求"正成为越来越多上市公司未及时确认关联关系的理由，但这些案例在强调保密需 求时，并未同步说明公司内部是否已同步启动关联方报备、履行对应的审核程序等。要知道，保密是对 外的要求，在公司内部，交易发生时应当向内部合规部门、独立董事等报备关联方信息及定价依据，并 留存完整的审批痕迹。 从监管层面而言，建议出台相关指引，明确因保密、紧急等因素导致追认关联交易的适用情形，核查关 联交易内部报备、审 ...

每经评论员吴泽鹏 7月28日晚间，宏景科技（SZ301396，前收盘价55.38元，市值85.02亿元）发布公告，宣布补充确认一 笔关联交易。据悉，宏景科技曾于2023年第四季度向深博信息累计采购5536.80万元的英伟达芯片，而 深博信息实为宏景科技董事、副总经理的配偶实际控制的公司。 同时，对于"紧急采购"，要建立快速审批通道并规定事后补审时限，避免因紧急因素造成长期的程序瑕 疵。此外，"保密要求"正成为越来越多上市公司未及时确认关联关系的理由，但这些案例在强调保密需 求时，并未同步说明公司内部是否已同步启动关联方报备、履行对应的审核程序等。要知道，保密是对 外的要求，在公司内部，交易发生时应当向内部合规部门、独立董事等报备关联方信息及定价依据，并 留存完整的审批痕迹。 从监管层面而言，建议出台相关指引，明确因保密、紧急等因素导致追认关联交易的适用情形，核查关 联交易内部报备、审批记录的完整性，同时规定事后补审时限。对于延迟披露行为，应加大监管力度， 比如根据超过时限的情况，对相关行为及责任人实施阶梯式惩戒。 （文章来源：每日经济新闻） 对于为何交易当年未及时确认为关联交易，宏景科技在公告中并未作出说明， ...

每经评论员吴泽鹏 7月28日晚间，宏景科技（301396）(SZ301396，前收盘价55.38元，市值85.02亿元)发布公告，宣布补充 确认一笔关联交易。据悉，宏景科技曾于2023年第四季度向深博信息累计采购5536.80万元的英伟达芯 片，而深博信息实为宏景科技董事、副总经理的配偶实际控制的公司。 值得注意的是，该交易发生距本次宏景科技追认已过去近2年，直到今年7月24日，宏景科技才召开董事 会会议及监事会会议，审议通过补充确认上述关联交易的议案。 对于为何交易当年未及时确认为关联交易，宏景科技在公告中并未作出说明，仅解释称"因政策的特殊 性和产品的稀缺性，公司与深博信息的交易具有当时市场下的必要性，该业务的发生具有紧迫性、必要 性、保密性"。 在笔者看来，宏景科技所提及的"紧迫性、必要性、保密性"，或许能解释交易前未进行披露的原因，但 很难成为事后近2年才启动审议程序的合理理由。这种"先上车后补票"且"补票"严重超期的行为，实则 将公司治理置于风险敞口之中。 实际上，部分上市公司以市场紧缺、时间紧迫、保密要求为由绕过关联交易审议程序的现象并不少见， 但多数企业能在交易发生后很快完成相关审议程序的补充。 ...

Core Viewpoint - The announcement from Hongjing Technology reveals that the company has been procuring NVIDIA chips through a related party, Deepbo Information, which is controlled by the spouse of a senior executive, raising questions about the nature of the transactions and the company's disclosure practices [1][2][5]. Group 1: Company Transactions - Hongjing Technology announced a procurement of NVIDIA chips worth 55.368 million yuan from Deepbo Information between October 1, 2023, and December 31, 2023 [1][2]. - The company reported a significant increase in its orders for 2024, achieving 2.317 billion yuan, a year-on-year growth of 113% [2]. - Deepbo Information is described as an elite partner of NVIDIA and has a history of partnerships with major tech companies like IBM and Microsoft [2]. Group 2: Executive Relationships - The executive involved is Xu Chi, who serves as both a director and vice president of Hongjing Technology, and his spouse, Qiu Zhibin, is the largest shareholder of Deepbo Information [1][3]. - Xu Chi has been with Hongjing Technology since 2002 and has held various positions, indicating a long-standing relationship with the company [3]. Group 3: Market Conditions and Procurement Strategy - Hongjing Technology stated that due to geopolitical factors, high-performance servers and chips have been in short supply, necessitating the use of Deepbo Information for procurement [4]. - The company indicated that the transaction was essential due to the urgency and confidentiality required in the current market conditions [4]. - The procurement through Deepbo Information was a strategic decision to navigate regulatory constraints imposed by NVIDIA's home country [4]. Group 4: Disclosure and Compliance Issues - Hongjing Technology previously did not recognize Deepbo Information as a related party in its IPO prospectus, which has raised concerns about its internal compliance and disclosure processes [5]. - The company acknowledged that the identification of Deepbo Information as a related party was only discovered during a recent internal review [5].

Group 1 - The core point of the announcement is that Hongjing Technology has confirmed a significant procurement of NVIDIA chips from Deepbo Information, amounting to 55.368 million yuan, which is crucial for its AI computing power strategy [1] - Deepbo Information's unique status as a partner and its resources are key to this collaboration, providing Hongjing with a reliable channel to acquire high-end NVIDIA chips amid global shortages [1][2] - The partnership aligns with national strategies like "East Data West Computing," allowing Hongjing to capitalize on the growing demand for AI computing power in various sectors [2] Group 2 - The collaboration enhances Hongjing's infrastructure for AI model training and algorithm optimization, enabling the company to offer integrated services of computing power, algorithms, and applications [3] - Hongjing's proactive approach in securing chip resources through strategic partnerships demonstrates its competitive edge in the market, especially during a time of chip shortages [2][3] - The partnership with Deepbo Information not only addresses immediate supply challenges but also positions Hongjing favorably for future growth in the AI computing landscape [3]

Core Insights - The AI model technology is undergoing a historic transition from "incremental innovation" to "exponential leap," with companies like OpenAI, Alibaba, and Jieyue Xingchen continuously upgrading their large models [1][3] Group 1: Technological Advancements - OpenAI plans to release its flagship model GPT-5 in early August, including mini and nano versions, which will enhance reasoning density and multimodal capabilities [1] - Alibaba showcased three new open-source large models at the WAIC 2025, including the latest version of Qianwen 3 [1] - Jieyue Xingchen launched its new foundational model Step 3, which aims to optimize efficiency and intelligence for the reasoning era [1][2] Group 2: Industry Applications - AI large models significantly enhance data utilization across various sectors, including manufacturing, agriculture, and services, leading to cost savings and productivity improvements [3] - The Chinese government emphasizes the integration of digital technology with manufacturing advantages to support the widespread application of large models [3] Group 3: Market Growth - The Chinese AI large model market is projected to grow from 14.1 billion yuan in 2023 to 29.4 billion yuan in 2024, and further to 49.5 billion yuan by 2025, marking an 83.92% increase year-on-year [3] Group 4: Stock Performance - AI large model concept stocks have seen an average increase of 21% this year, outperforming the Shanghai Composite Index, with seven stocks rising over 50% [4] - The average daily trading volume of AI large model concept stocks increased by 16.18% in July, reaching 517 million yuan [4][5]

Core Viewpoint - The company confirms a related party transaction involving the procurement of NVIDIA chips from Guangdong Shenbo Information Technology Co., Ltd., which is controlled by a spouse of the company's director [1][2]. Related Party Transaction Overview - The total procurement amount from Shenbo Information is 55.368 million yuan [1]. - Shenbo Information is considered a related party due to its connection with a company director [1]. - The transaction was approved by the board and supervisory committee, with related directors abstaining from voting [1][2]. Necessity and Impact of the Transaction - The transaction is necessary for the company's expansion into computing power services, which are currently in high demand due to geopolitical factors affecting product availability [2][3]. - The pricing of the transaction is fair and aligns with market conditions, ensuring no harm to the interests of shareholders, especially minority shareholders [2][3]. - The transaction is expected to enhance the company's core competitiveness and support its long-term strategic goals [3][4]. Review Procedures and Opinions - Independent directors support the transaction, stating it aligns with the company's strategic needs and does not harm shareholder interests [4]. - The board of directors agrees that the transaction is necessary for operational needs and follows market principles [4][5]. - The supervisory committee confirms that the transaction does not affect the company's independence or normal operations [4][5].

随着公司业务的发展和外部经济环境的变化，公司不断完善应收账款风险管 控措施，加强应收账款风险的精细化管理深度，为了更加准确地体现公司业务的 实际回款和可能的坏账损失情况，更加公允地反应公司整体财务状况和经营成果， 为投资者提供更可靠、更准确的会计信息，公司根据不断变化的应收款项信用风 险结构特征，结合历史回款情况及参考同行业可比公司的会计估计，变更应收账 款和合同资产的预期信用损失会计估计，对划分为应收客户款项的应收账款和合 同资产整个存续期预期信用损失率进行调整。 （二）会计估计的变更日期 公司自 2025 年 4 月 1 日起开始执行变更后的会计估计。 股票简称：宏景科技 股票代码：301396 公告编号：2025-049 宏景科技股份有限公司 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。 宏景科技股份有限公司（以下简称"公司"）根据《企业会计准则第 28 号— —会计政策、会计估计和差错更正》的相关规定，对公司相关会计估计进行变更， 公司本次会计估计变更采用未来适用法，无需对公司以前年度财务报表进行追溯 调整，不会对公司以前年度财务状况、经营成果和现金 ...

Core Viewpoint - The company has confirmed related party transactions with Guangdong Shenbo Information Technology Co., Ltd. for the procurement of NVIDIA chips, amounting to a total of 55.368 million yuan, following necessary review and disclosure procedures [1][2][3]. Summary by Sections Related Party Transaction Overview - The company has engaged in related party transactions involving the procurement of NVIDIA chips, totaling 55.368 million yuan [1]. - Guangdong Shenbo Information is controlled by the spouse of the company's director and vice president, qualifying it as a related party under relevant regulations [1]. Review Procedures - The company held board and supervisory meetings on July 24, 2025, to review and approve the related party transaction, with related directors abstaining from voting [2]. - The transaction does not constitute a major asset restructuring as defined by regulations, and it does not require shareholder approval [2]. Main Content of the Transaction, Necessity, and Impact - The procurement of NVIDIA graphics cards from the related party follows market prices, ensuring fairness and no harm to the company's or minority shareholders' interests [3]. - The necessity of the transaction arises from the company's expansion into computing power services, where high-performance servers are in high demand due to geopolitical factors [3]. - The transaction aligns with the company's strategic planning and operational needs, enhancing its competitiveness in the artificial intelligence sector without compromising independence [4]. Opinions from Independent Directors and Board - Independent directors support the transaction, stating it aligns with the company's strategic needs and does not harm shareholder interests [4]. - The board agrees that the transaction is necessary for operational needs and follows market principles, ensuring no detriment to non-related shareholders [5]. - The supervisory board also concurs that the transaction is fair and does not affect the company's operational independence [5]. Sponsor's Verification Opinion - The sponsor confirms the necessity and reasonableness of the related party transaction, stating that the pricing is fair and does not impact the company's independence or shareholder interests [6].

华兴证券有限公司 关于宏景科技股份有限公司及子公司 补充确认关联交易的核查意见 华兴证券有限公司（以下简称"华兴证券"或"保荐机构"）作为宏景科技 股份有限公司（以下简称"宏景科技"或"公司"）首次公开发行并在创业板上 市的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所上市 公司自律监管指引第 13 号——保荐业务（2025 年修订）》《深圳证券交易所创业 板股票上市规则（2025 年修订）》《深圳证券交易所上市公司自律监管指引第 2 号 ——创业板上市公司规范运作（2025 年修订）》等有关法律法规和规范性文件的 要求，对公司补充确认与广东深博信息科技有限公司（以下简称"深博信息"） 关联交易的事项进行了审慎核查，核查情况及核查意见如下： 根据公司近期自查，决定对公司与深博信息 2023 年度关联交易事项进行追 加确认，并补充履行了相应的审议及披露程序。具体情况如下： 一、关联交易概述 （一）关联交易事项 2023年10月1日至2023年12月31日，公司向英伟达精英级别代理厂商深博信 息累计采购总计5,536.80万元的NVIDIA芯片。 公司已于2025年7月24日召开第四届董事会第八次 ...