虹软科技（688088.SH）12月29日在投资者互动平台表示，公司专注于计算机视觉领域，为行业提供算 法授权及系统解决方案，是全球领先的视觉人工智能企业。公司掌握的视觉人工智能算法技术具有通用 性和延展性。多年来，公司致力于将视觉人工智能算法与行业应用相结合，凭借先进的科研力量、强大 的产品开发能力以及卓越的工程实施能力，公司快速将视觉人工智能算法技术落地为成熟的解决方案， 并进一步将应用领域从智能手机扩展到智能汽车、智能可穿戴、智能家居、智能零售等多个行业，助推 行业升级。此外，公司基于自身深厚的技术积累，能够为上述行业快速提供高性能、高效率、硬件平台 适应性强、功耗控制优良的解决方案，极大降低各类客户的产品使用先进技术的门槛，帮客户提升产品 竞争力，助力视觉人工智能和人工智能相关应用的普及。1）在智能手机领域，公司为客户提供全栈视 觉人工智能解决方案，是全球最大的智能手机视觉人工智能算法供应商之一，大部分智能手机视觉解决 方案达到国内外先进水平，多数新创技术在行业内属于技术首发。公司主要客户包括三星、小米、 OPPO、vivo、荣耀、Moto等全球知名手机厂商，据IDC统计的2019年度至2024年度全 ...

Group 1 - The core viewpoint of the news is that Hongsoft Technology's stock has increased by 5.19%, reaching a price of 48.02 CNY per share, with a total market capitalization of 19.264 billion CNY [1] - Hongsoft Technology specializes in the research and application of visual artificial intelligence technology, providing solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology includes 82.69% from mobile intelligent terminal visual solutions, 15.76% from smart cars and other AIoT devices, and 1.55% from other sources [1] Group 2 - Hongfu Fund has a significant holding in Hongsoft Technology through its Hongfu Artificial Intelligence ETF, which holds 3,000 shares, accounting for 0.01% of the fund's net value [2] - The Hongfu Artificial Intelligence ETF has achieved a year-to-date return of 53.77% and a one-year return of 49.99%, ranking 206 out of 4,209 in its category [2] Group 3 - The fund managers of Hongfu Artificial Intelligence ETF include Zhang Ya, Li Xiaohua, and Gao Zhe, with varying tenures and performance records [3] - Zhang Ya has a tenure of 19 years and has achieved a best fund return of 215.97% during her management [3] - Li Xiaohua and Gao Zhe have tenures of 4 years and 7 years respectively, with their best fund returns being 73.56% and 55.96% [3]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company has shown impressive performance with a 9.39% year-on-year increase in revenue to 628 million yuan and a 60.51% increase in net profit to 142 million yuan for the first three quarters of 2025 [1] - The mobile smart terminal business generated 512 million yuan in revenue, reflecting a 5.59% growth year-on-year, while the intelligent automotive and AIoT business achieved 105 million yuan, marking a 31.43% increase [2] - The company launched a new flagship imaging technology, ArcSoftVideoDragonFusion, enhancing video quality through hardware and algorithm collaboration [2] - Progress in new business areas such as AI glasses and commercial photography is notable, with contracts signed with 5-6 AI glasses brands and over 300 major brand clients for customized services [3] Financial Projections - The company forecasts net profits of 231 million yuan, 304 million yuan, and 402 million yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.58 yuan, 0.76 yuan, and 1.00 yuan [4][6] - Revenue is expected to grow from 1.004 billion yuan in 2025 to 1.598 billion yuan in 2027, with annual growth rates of 23.2% and 27.6% respectively [6][12] - The projected PE ratios are 93.61, 71.26, and 53.89 for the years 2025, 2026, and 2027 [4][6]

Group 1 - The core viewpoint of the news is that Hongsoft Technology's stock has increased by 5.01%, reaching a price of 52.20 CNY per share, with a trading volume of 339 million CNY and a turnover rate of 1.64%, resulting in a total market capitalization of 20.941 billion CNY [1] - Hongsoft Technology, established on February 25, 2003, and listed on July 22, 2019, specializes in the research and application of visual artificial intelligence technology, providing comprehensive visual AI solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology includes 82.69% from mobile intelligent terminal visual solutions, 15.76% from smart cars and other AIoT intelligent device visual solutions, and 1.55% from other sources [1] Group 2 - According to data from the top ten holdings of funds, one fund under Huaxia Fund has a significant position in Hongsoft Technology, specifically the Huaxia CSI Selected 1000 Growth Innovation Strategy ETF (562520), which held 9,846 shares, accounting for 1.09% of the fund's net value, ranking as the fifth-largest holding [2] - The Huaxia CSI Selected 1000 Growth Innovation Strategy ETF (562520) was established on March 8, 2022, with a latest scale of 43.6988 million CNY, and has achieved a return of 28.11% this year, ranking 1697 out of 4218 in its category [2] - The fund has a one-year return of 32.22%, ranking 1245 out of 3875, and a cumulative return of 27.37% since its inception [2]

Group 1 - The core viewpoint of the news is that Hongsoft Technology's stock has seen a significant increase of 5.16%, reaching a price of 63.16 CNY per share, with a total market capitalization of 25.338 billion CNY [1] - Hongsoft Technology, established on February 25, 2003, specializes in the research and application of visual artificial intelligence technology, providing comprehensive solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology is primarily from mobile intelligent terminal visual solutions (82.69%), followed by smart automotive and other AIoT device visual solutions (15.76%), and other sources (1.55%) [1] Group 2 - According to data from the top ten heavy stocks of funds, Mingya Fund holds a significant position in Hongsoft Technology, with its Mingya CSI 1000 Index Enhanced A fund (017505) owning 800 shares, accounting for 0.38% of the fund's net value [2] - The Mingya CSI 1000 Index Enhanced A fund has achieved a year-to-date return of 21.6% and a one-year return of 52.86%, ranking 2033 out of 4222 and 1708 out of 3798 in its category, respectively [2] - The fund was established on April 25, 2023, and currently has a total scale of 199.3 million CNY [2]

Group 1 - The core viewpoint of the news is that Hongsoft Technology has seen a significant increase in stock price, rising by 5.18% to reach 58.48 CNY per share, with a total market capitalization of 23.46 billion CNY [1] - Hongsoft Technology specializes in the research and application of visual artificial intelligence technology, providing comprehensive solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology is primarily from mobile intelligent terminal visual solutions (82.69%), followed by smart automotive and other AIoT device visual solutions (15.76%), and other sources (1.55%) [1] Group 2 - According to data, Hongsoft Technology is a top ten holding in the Huazhong Fund's Huazhong Intelligent Equipment Theme Stock A (001072), which held 552,100 shares, accounting for 2.85% of the fund's net value [2] - The fund has achieved a year-to-date return of 23.93% and a one-year return of 62.82%, ranking 1301 out of 4222 and 1016 out of 3795 respectively [2] - The fund manager, Liu Changchang, has been in position for over 5 years, with the fund's total asset size at 6.642 billion CNY and a best return of 211.58% during his tenure [3]

Group 1 - The core viewpoint of the news is that Hongsoft Technology's stock has experienced a decline of 5.17%, with a current price of 55.00 CNY per share and a total market capitalization of 22.064 billion CNY [1] - Hongsoft Technology, established on February 25, 2003, specializes in the research and application of visual artificial intelligence technology, providing solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology includes 82.69% from mobile intelligent terminal visual solutions, 15.76% from smart cars and other AIoT devices, and 1.55% from other sources [1] Group 2 - According to data, one fund under China Europe Fund has a significant holding in Hongsoft Technology, specifically the China Europe CSI 1000 Index Enhanced A fund, which held 46,900 shares, accounting for 0.6% of the fund's net value [2] - The fund has reported a floating loss of approximately 140,800 CNY as of the latest update [2] - The China Europe CSI 1000 Index Enhanced A fund was established on March 2, 2023, with a current scale of 205 million CNY and has achieved a year-to-date return of 22.7% [2]

Group 1 - The core point of the news is that Hongsoft Technology's stock price dropped by 5.17% to 55.00 CNY per share, with a trading volume of 883 million CNY and a turnover rate of 3.84%, resulting in a total market capitalization of 22.064 billion CNY [1] - Hongsoft Technology, established on February 25, 2003, and listed on July 22, 2019, specializes in the research and application of visual artificial intelligence technology, providing comprehensive visual AI solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology includes 82.69% from mobile intelligent terminal visual solutions, 15.76% from smart cars and other AIoT intelligent devices, and 1.55% from other sources [1] Group 2 - From the perspective of major fund holdings, Ping An Fund has one fund heavily invested in Hongsoft Technology, specifically the Ping An Guozheng 2000 ETF, which reduced its holdings by 800 shares in the second quarter, now holding 2,032 shares, accounting for 0.61% of the fund's net value [2] - The Ping An Guozheng 2000 ETF, established on August 25, 2023, has a latest scale of 15.9968 million CNY, with a year-to-date return of 24.28% and a one-year return of 59.52% [2] - The fund manager of Ping An Guozheng 2000 ETF is Li Yan, who has been in the position for 1 year and 255 days, managing a total asset scale of 12.611 billion CNY, with the best fund return during his tenure being 57.26% and the worst being 11.99% [3]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's revenue for the first half of 2025 reached 410 million yuan, a year-on-year increase of 7.73%, with a net profit attributable to shareholders of 88.54 million yuan, up 44.06% year-on-year [1] - The mobile intelligent terminal visual solutions generated revenue of 339.32 million yuan, reflecting a growth of 2.23% year-on-year, with fluctuations attributed to project acceptance delays [2] - The smart automotive business showed strong growth, with revenue of 64.65 million yuan, a year-on-year increase of 49.09%, supported by successful product certifications and deliveries [2] - The AI glasses business is progressing well, with contracts signed with 5-6 brands, indicating a positive outlook for future releases [3] Summary by Sections Financial Performance - The company reported a basic earnings per share (EPS) of 0.22 yuan for the first half of 2025 [1] - The projected net profits for 2025-2027 are estimated at 231 million yuan, 304 million yuan, and 402 million yuan respectively, with corresponding EPS of 0.58 yuan, 0.76 yuan, and 1.00 yuan [4][6] Revenue and Growth Projections - The company anticipates revenue growth rates of 21.6% for 2024, 23.2% for 2025, 24.7% for 2026, and 27.6% for 2027 [6][12] - The net profit growth rates are projected at 99.7% for 2024, 31.0% for 2025, 31.4% for 2026, and 32.2% for 2027 [6][12] Market Position - The company is recognized as a leading player in the domestic visual AI sector, with stable growth in mobile business and a focus on developing the smart automotive segment as a second growth curve [4]

Core Viewpoint - The company emphasizes its commitment to enhancing operational quality and investor returns through its 2025 "Quality Improvement and Return" action plan, focusing on innovation, core business development, and sustainable growth [2][11]. Group 1: Business Performance - In the first half of 2025, the company achieved operating revenue of 410.35 million yuan, a year-on-year increase of 7.73%, and a net profit attributable to shareholders of 88.54 million yuan, up 44.06% [3]. - The mobile intelligent terminal visual solutions generated revenue of 339.32 million yuan, growing by 2.23%, while the smart automotive and other AIoT visual solutions brought in 64.65 million yuan, reflecting a significant increase [3]. Group 2: R&D and Innovation - The company maintains a high level of R&D investment, with R&D expenses totaling 62.15% of its workforce being dedicated to innovation in computer vision technology [2]. - The Turbo Fusion technology for mobile devices has undergone continuous iterations, enhancing image processing efficiency and reducing system load, particularly in challenging lighting conditions [4][5]. Group 3: Strategic Initiatives - The company is expanding its AI glasses business through a dual strategy of deepening technology and building ecosystems, focusing on enhancing visual perception and image capture capabilities [6]. - In the automotive sector, the company has made significant progress in driver and passenger safety systems, achieving compliance with EU regulations and securing contracts with major automotive brands [7][8]. Group 4: Investor Returns - The company has implemented a stable profit distribution policy, with cumulative cash dividends amounting to 524.47 million yuan since its listing, representing 41.79% of the net funds raised [11]. - For the first half of 2025, the company plans to distribute cash dividends of 2.20 yuan per share, totaling 88.16 million yuan, which constitutes 99.58% of the net profit attributable to shareholders [11]. Group 5: Governance and Management - The company is enhancing its governance structure and has initiated adjustments to its governance framework to align with regulatory requirements [14]. - A focus on risk management and resource optimization is being emphasized to support business development and shareholder returns [13][14]. Group 6: Communication with Investors - The company has organized multiple investor communication activities, including performance briefings and workshops, to enhance transparency and trust with investors [15][16]. - A feedback mechanism has been established to address investor inquiries effectively, ensuring that their concerns are communicated to management [16].