Core Viewpoint - The rapid development of industrial intelligence aligns with the national strategy for new industrialization and the development of new quality productivity, driven by breakthroughs in large model technology [1][14]. Group 1: Industrial AI Integration - The integration of AI into industrial manufacturing is not merely a slogan; it requires deep engagement with specific production scenarios [1][2]. - The challenges of implementing industrial AI include the difficulty of accessing private data, the disconnect between process knowledge and AI technology, and the need for experienced personnel to maintain and adapt systems [2][3]. Group 2: Geega Industrial AI Application Platform - The Geega Industrial AI Application Platform aims to provide a comprehensive solution for manufacturing enterprises, integrating AI technology with industrial know-how [6][12]. - The platform features three core capabilities: efficient industrial data standardization, closed-loop knowledge encapsulation, and customizable intelligent agent development [7][8]. Group 3: Industrial Intelligent Agents - The Industrial Intelligent Agents, built on the Geega platform, cover the entire business process from research and production to supply, sales, and service, creating a collaborative decision-making network [8][10]. - These agents can respond quickly to supply chain disruptions, generating emergency plans and validating feasibility within minutes [10][11]. Group 4: AI-Driven Transformation - The transition from digitalization to intelligentization is characterized by the emergence of AI-native enterprises, which integrate AI deeply into business processes [12][13]. - The company has empowered over 60 enterprises, accumulating practical experience in industrial scenarios, which supports the training and validation of its AI platform and intelligent agents [13][14].

Core Viewpoint - The company, Koyuan Smart, is expected to maintain strong performance and long-term growth potential driven by its multi-national certifications, comprehensive technology R&D system, platform-based products, and decentralized channels [1]. Investment Highlights - The investment recommendation is to maintain a "Buy" rating, with the target price raised to 31.66 yuan (+0.98). The projected EPS for 2025-2027 is 1.27 (-0.21), 1.73 (-0.22), and 2.06 yuan respectively. The average PE for comparable companies in 2025 is estimated at 26.79X. Given the company's focus on control systems and continuous expansion in the industrial internet product matrix, it is expected to sustain high growth, justifying a 25x PE for 2025, leading to the target price of 31.66 yuan [2]. - In 2024, Koyuan Smart achieved total revenue of 1.682 billion yuan, a year-on-year increase of 19.55%, with a net profit attributable to shareholders of 252 million yuan, marking a significant growth of 56.64% compared to 2023. In Q1 2025, the company reported revenue of 420 million yuan, a year-on-year increase of 14.60%, and a net profit of 61 million yuan, reflecting a 42.30% increase, showcasing its technological breakthroughs and ability to leverage policy benefits for enhanced profitability [2]. Technological and Market Positioning - The company has established a technological ecological barrier through multiple national certifications and a comprehensive technology R&D system. As a national-level manufacturing champion and a key high-tech enterprise, it holds certifications such as ISO 9001/45001/14001 and CMMI Level 5, demonstrating its credibility in the industrial intelligence sector. The company integrates cutting-edge technologies like AI, large models, and real-time databases, with R&D investment accounting for 10.44% in 2024, adding 16 new patents and holding a total of 236 effective patents [3]. - Koyuan Smart focuses on platform-based products and decentralized channels to efficiently convert technological advantages into market penetration. The company has built an IT/OT integrated platform that deeply merges industrial automation systems with industrial software, providing full lifecycle services from planning to operation for traditional industries. Its marketing network, covering 17 divisions nationwide, enhances customer loyalty and market share, accelerating the large-scale implementation of smart manufacturing solutions [3].

Core Insights - The article highlights the successful conclusion of the China International Metal Forming Exhibition, where Dayun Technology showcased its core technologies and full-stack product system aimed at facilitating digital transformation in manufacturing enterprises [1] Group 1: AI Empowerment in Manufacturing - Dayun Technology utilizes AI for predictive maintenance, connecting equipment manufacturers and production enterprises to eliminate data silos and establish a unified equipment management standard, thereby enhancing equipment utilization and production efficiency [3] - The downtime analysis module addresses core pain points for production enterprises by enabling precise classification and real-time monitoring, facilitating a closed-loop management system from problem identification to resolution [3] Group 2: "1+4+N" Product System - The Equipment Data Lake (EDL) collects and aggregates operational data in real-time, creating a digital foundation for all equipment by utilizing self-developed edge computing gateways [4] - The downtime analysis module aids in problem identification and closed-loop management [5] - The platform supports seamless integration with various industrial systems, providing real-time data for lifecycle management [6] Group 3: Real-time Monitoring and Optimization - The Equipment Digital Twin Platform (EDT) offers real-time monitoring and optimization, presenting equipment operational status visually and enabling comprehensive monitoring and prediction [7] - The AI Application Service Platform (AIAS) transitions from reactive responses to proactive optimizations, offering services such as equipment health prediction and energy consumption analysis [7] Group 4: Value Summary - Dayun Technology's "1+4+N" system bridges equipment data silos, creating a collaborative intelligent manufacturing ecosystem that propels enterprises towards efficient and intelligent management [9] Group 5: Exhibition Outcomes - The exhibition attracted significant attention from industry experts and clients, with recognition from the China Forging Association for Dayun Technology's capabilities in promoting AI technology collaboration between equipment manufacturers and production enterprises [10] - Dayun Technology received the "Outstanding Supplier Recommendation Award for Forging, Stamping, and Sheet Metal Equipment," reflecting industry acknowledgment of its technological strength and driving continuous innovation [12] Group 6: Future Vision - Dayun Technology aims to deepen its focus on industrial AI, facilitating a shift from passive to predictive management, and fostering a collaborative, efficient digital factory ecosystem with equipment manufacturers and production enterprises [14]

Group 1 - The core viewpoint is that AI technology is becoming a driving force for a new round of technological revolution, particularly in the energy and chemical industries, which are expected to undergo a digital and intelligent upgrade driven by AI [1][2] - Traditional coal power systems are struggling to meet the demands of new power systems, leading to a need for intelligent control upgrades. For instance, operators in a chemical company's self-owned power plant handle 2,000 to 4,000 control commands daily, facing issues like control lag and parameter oscillation [1] - The intelligent solutions from the company have been implemented in over 100 benchmark projects across four major industries: thermal power, chemicals, metallurgy, and environmental protection, achieving over 99% automation in upgraded chemical thermal power plants, with operational efficiency improved by 1.7% [1] Group 2 - The company highlights that China has unique advantages in industrial data generation in sectors like petrochemicals and power production, which are essential for developing industrial AI [2] - Industrial AI differs significantly from large language models, which face issues like hallucination and high energy consumption, making them unsuitable for industrial applications. Therefore, a specialized technical system for industrial AI is necessary [2] - Future trends in industrial digitization in the energy and chemical sectors include a shift from point optimization to global intelligence, from cloud collaboration to autonomous decision-making, and from efficiency tools to low-carbon engines, with AI being a key enabling technology for achieving carbon neutrality goals [2]

北京东土科技股份有限公司 董事会 2024 年度工作报告 2024 年度，公司董事会严格按照《公司法》《证券法》等法律法规以及《公 司章程》《董事会议事规则》等的相关规定，本着对全体股东负责的态度，恪尽 职守、积极有效的行使职权，认真执行股东大会的各项决议，勤勉尽责的开展董 事会各项工作，保障了公司良好的运作和可持续发展。现将董事会 2024 年度工 作主要工作报告如下： 一、公司 2024 年度经营指标完成情况 2024 年全球宏观环境复杂多变，地缘局势博弈加剧。在此背景下，中国经济 展现出强大韧性，在迈向高质量发展的进程中，面临着产业结构调整以及有效需 求进一步释放等多重挑战。面对形势变化，公司坚定自主可控的发展理念，紧抓 工业智能化产业趋势，积极谋划并布局各项业务。报告期内，公司实现营业收入 102,913.75 万元，虽然同比下降 11.52%，但实现扣非归母净利润 923.44 万元， 同比增长 108.52%。其中，公司工业操作系统及工业软件业务长期战略布局效果 显现，该部分业务实现收入增长 25.8%；同时，公司持续深化工业网络通信业务 的全球化战略，新增开拓拉丁美洲、中东等友好市场，报告期内， ...