投资者关系活动记录表 证券代码：300248 证券简称：新开普 新开普电子股份有限公司投资者关系活动记录表 编号：2025-009 公司已构建 AI+教育顶层架构体系，形成包含通过私域化部署的校 园特色星普大模型、支持自定义的智能体创作平台星工场、高频应用场 景智能体助手三大核心组件的 AI 产品矩阵。星普大模型凭借全栈自研 体系，构建"算法开发-场景优化-私有化部署"全链路能力矩阵，在校园 场景语义理解和 SQL 智能生成两大核心指标上持续领跑行业前沿。 （二）交流互动环节 问题 1、公司在 AI 应用层面与互联网大厂及竞争对手相比壁垒是 什么？ 回答：公司作为国内高校智慧校园龙头企业，在校园场景的人工智 能应用领域具有明显的特色和优势，与互联网大厂及垂直领域竞争对手 相比也存在差异。大厂的 AI 技术偏向通用型方案，公司偏向高校业务 流程，提供场景化功能设计，并可针对高校个性化需求，支持快速二次 开发，通过软硬件一体化交付降低整体成本，适合高校当前情况。目前， 公司在校园 AI 应用的核心特点：1、场景聚焦：功能与校园管理痛点高 度贴合，落地性强。2、数据闭环能力强：依托自有校园一卡通系统、 物联网终端、 ...

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Core Viewpoint - The "golden decade" of AI+SaaS has arrived, presenting opportunities for small and medium-sized enterprises (SMEs) to achieve digital transformation through AI technology, which is essential for industrial upgrading [1][3]. Group 1: Digital Transformation and Policy Support - The digital transformation of SMEs is a crucial step towards new industrialization and is key to achieving the "specialized, refined, distinctive, and innovative" development of SMEs [3][4]. - The "Action Plan for Digital Empowerment of SMEs (2025-2027)" outlines a systematic approach to promote digital transformation, including seven key tasks such as implementing pilot projects and enhancing public service capabilities [3][4]. - SMEs are encouraged to leverage policy support and technological tools to build competitive advantages in niche markets [3][5]. Group 2: AI and SaaS as New Growth Drivers - The integration of AI and SaaS is redefining the digital transformation landscape, with a focus on AI-native technologies to reconstruct enterprise management [5][6]. - The launch of the AI-native mobile application "Cangqiong APP" by the company supports natural language interaction and intelligent data analysis across various business functions [5][6]. - The expected cloud adoption rate among SMEs is projected to exceed 40% by 2027, with the company offering subscription-based cloud services to lower the barriers to transformation [5][6]. Group 3: Strategic Recommendations for SMEs - A gradual approach to digital transformation is recommended, starting with basic functions like financial management and gradually extending to core business areas [6]. - The company has initiated a subsidy program to alleviate cost pressures on SMEs, emphasizing that true digitalization enhances human capabilities rather than replacing them [6]. - The company plans to invest significantly in R&D over the next three years to develop an intelligent management system covering finance, human resources, and supply chain [6].

Financial Data and Key Metrics Changes - Total revenue for Q1 FY26 grew approximately 3% year over year to $1,175 million, exceeding guidance by $8 million [18] - Enterprise revenue increased approximately 6% year over year, now representing 60% of total revenue, up two points year over year [19] - Average monthly churn improved to 2.8%, a 40 basis point improvement year over year, marking the lowest churn rate for Q1 [19] - Non-GAAP gross margin for Q1 was 79.2%, slightly lower than the previous year due to AI investments [20] - Non-GAAP diluted net income per share was $1.43, exceeding guidance by $0.12 and up $0.08 from Q1 of last year [22] - Deferred revenue grew 5% year over year to $1,430 million, in line with the high end of the previously provided range [22] Business Line Data and Key Metrics Changes - Adoption of Zoom AI Companion grew with monthly active users up nearly 40% quarter over quarter [8] - Zoom Phone revenue grew in the mid-teens, indicating strong performance and market expansion [12] - The number of Zoom contact center customers grew 65% year over year, with Zoom Virtual Agent landing its largest deal to date [13] - Total WorkVivo customer count grew 106% year over year, driven partly by a partnership with Meta [15] Market Data and Key Metrics Changes - Americas revenue grew 4% year over year, EMEA grew 1%, and APAC grew 2% [20] - The customer experience offering has rapidly evolved, with a triple-digit million ARR business growing in high double digits [13] Company Strategy and Development Direction - The company is focused on AI-powered innovation to redefine modern work and deliver cost savings and productivity gains [6] - A strategic partnership with Bell Canada was announced, enhancing channel capabilities [16] - The company aims to drive value for customers while navigating an uncertain macro environment, emphasizing an AI-first strategy [17] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand across the business, with no significant impact from macroeconomic conditions on online business [44] - The outlook for enterprise business is cautious due to elongating deal cycles and increased scrutiny on deal terms [44] - The company raised its full-year revenue guidance by $15 million, reflecting increased product value [25] Other Important Information - The company accelerated its share buyback plan, purchasing 5.6 million shares for $418 million, indicating a commitment to delivering shareholder value [24] - The company expects to recognize 61% of total RPO as revenue over the next twelve months, up from 59% in Q1 of last year [23] Q&A Session Summary Question: Adoption of Zoom AI Companion in SMB segment - Management noted that the number of active users has significantly increased, with more customers realizing the value of AI features [31][32] Question: Customer traction with higher price SKUs in contact center - Management highlighted that Q1 was the largest quarter for ARR contribution from the contact center, with many customers opting for elite SKUs due to AI value [40][42] Question: Competitive dynamics in core video meeting solutions - Management emphasized that employee preference for Zoom remains high, and the total cost of ownership is favorable compared to competitors [48][49] Question: Early reception of online monthly pro pricing increase - Management indicated that the pricing increase reflects incremental value delivered to customers, with no significant churn observed [66][67] Question: Trends in enterprise deal elongation and down sells - Management reported continued low churn rates in enterprise and online segments, with no significant down sells noted [114]

Core Insights - Nebius Group N.V. reported a first-quarter 2025 adjusted net loss of $92.5 million, which is 19% wider than the loss of $77.6 million from the previous year [1] - The company's revenues increased significantly by 385% year over year to $55.3 million, primarily driven by growth in its core artificial intelligence (AI) business [1] Business Overview - Nebius operates an AI cloud platform designed for intensive workloads, supported by in-house developed software and hardware, with R&D hubs in Europe, North America, and Israel [2] - The company has distinct brands, including Avride for autonomous driving technology and TripleTen, a leading edtech platform for tech career reskilling [2] Financial Performance - The adjusted EBITDA loss for the first quarter was $62.6 million, an improvement from the $70.9 million loss in the same quarter last year [4] - Sales, general, and administrative expenses rose by 29% year over year to $66.1 million [4] - As of March 31, 2025, the loss from operations was $129.5 million, compared to a loss of $82.9 million in the prior year [4] Balance Sheet and Cash Flow - As of March 31, 2025, Nebius had $1,447 million in cash and cash equivalents, down from $2,449.6 million as of December 31, 2024 [5] Future Outlook - The company is optimistic about its momentum heading into the second quarter of 2025, reaffirming its full-year ARR guidance of $750 million to $1 billion and overall revenue guidance of $500 million to $700 million [6] - Although adjusted EBITDA is expected to remain negative for the full year, Nebius aims to achieve positive adjusted EBITDA in the second half of 2025 [6] - The capital expenditure forecast for 2025 has been raised to approximately $2 billion from the previous estimate of $1.5 billion [7] Market Performance - Nebius currently holds a Zacks Rank 3 (Hold) and its shares have surged 66.6% over the past six months, outperforming the Zacks Internet - Software and Services industry's growth of 26.2% [8]

Core Insights - The core viewpoint of the articles emphasizes the rapid advancement and integration of AI technologies across industries, with Tencent positioning itself as a leader in the development of large models and AI applications [2][3][5]. Group 1: AI Model Development - Tencent's self-developed "Hunyuan" model has achieved significant recognition, ranking in the top eight globally on the Chatbot Arena platform, and second domestically only to DeepSeek [3]. - The iteration speed of the Hunyuan model has accelerated, with new models like Hunyuan T1 Vision and Hunyuan Voice being introduced, enhancing capabilities in visual reasoning and voice communication [3][4]. - The Hunyuan model has achieved breakthroughs in multi-modal generation, with Hunyuan Image 2.0 delivering "millisecond-level" image generation and Hunyuan 3D v2.5 achieving ultra-high-definition generation capabilities [3]. Group 2: Intelligent Agent Development - The year 2025 is anticipated to be the "Year of Intelligent Agents," with a focus on reducing the barriers to AI application deployment through intelligent agents [5]. - Tencent has upgraded its large model knowledge engine to the "Tencent Cloud Intelligent Agent Development Platform," which integrates retrieval-augmented generation (RAG) technology and agent capabilities [5][6]. - The platform allows users to create agents that can autonomously decompose tasks and select tools, significantly lowering the entry barrier for agent deployment [5]. Group 3: Knowledge Management and Infrastructure - Tencent believes that the combination of "large models + knowledge bases" is the optimal path for AI deployment, enhancing knowledge management experiences for various user groups [7]. - The upgraded knowledge base products, including Tencent IMA and Tencent Lexiang, cater to both individual and enterprise users, improving knowledge flow efficiency [7]. - Tencent Cloud's intelligent computing series products are designed to address the challenges posed by AI applications and model explosions, enhancing performance, reliability, and usability [8].

Summary of Aurora Mobile Conference Call Company Overview - **Company Name**: Aurora Mobile Limited - **Ticker Symbol**: JG - **Industry**: Customer engagement and marketing technology services - **Founded**: February 2011 - **Headquarters**: Shenzhen, China - **Core Services**: Provides push notifications and multichannel engagement services to enterprises, with a focus on app developers [4][9][10] Key Financial Metrics - **Revenue Composition**: - 76% from developer services - 24% from vertical applications - 59% of developer service revenue is from subscription business [12][34] - **Recent Performance**: - Achieved full-year profitability in 2024 - Net cash inflow of $19.5 million in the last quarter - Quarterly revenue reached a record high of $93.2 million [15][30][34] - **Adjusted EBITDA**: Six consecutive quarters of positive adjusted EBITDA [29][34] Market Position - **Market Share**: Over 55% in the third-party push notification market in China [10][14] - **Global Expansion**: Engaged customers from over 37 countries, with significant growth in Southeast Asia [18][50] Growth Drivers - **EngageLab**: - Launched in February 2022, focusing on global services - Customer base grew six times in six quarters, with revenue increasing nearly 200% year-over-year [19][21][50] - **AI Integration**: - Launched GPT bots in February 2023, enabling enterprises to utilize AI for improving operational efficiency [22][27] - Significant demand for AI in customer service operations, with one deployment reducing customer service headcount by over 50% [26][27] Competitive Advantages - **Cost Efficiency**: Outsourcing user engagement services to Aurora Mobile allows companies to save on infrastructure and operational costs [36][38] - **Speed of Innovation**: Rapid incorporation of AI functionalities into services, enhancing customer engagement capabilities [41][42] - **Service Offerings**: Unique offerings such as WhatsApp and OTP services, which competitors may lack [44][46] Future Outlook - **Growth Expectations**: Anticipated strong growth in customer numbers and contract values, particularly from EngageLab and the AI agent platform [51] - **Market Potential**: Significant total addressable market in Southeast Asia, with expectations for continued expansion [50][51] Additional Insights - **Customer Base**: Notable clients include Tesla, NVIDIA, and various airlines and financial institutions [11][15][16] - **Operational Expertise**: Fourteen years of operational experience positions Aurora Mobile as a leader in the push notification ecosystem [36][38] This summary encapsulates the key points discussed during the Aurora Mobile conference call, highlighting the company's market position, financial performance, growth strategies, and competitive advantages.

Core Insights - Infosys has announced a strategic collaboration with LogicMonitor to enhance IT operations observability through the integration of Infosys AIOps Insights and LogicMonitor's Edwin AI [1][2][3] Group 1: Collaboration Objectives - The partnership aims to reduce problem diagnosis and resolution time by up to 30% and minimize redundant alerts by up to 70%, providing comprehensive visibility across IT environments [2] - The collaboration seeks to empower enterprises with persona-based insights, improving forecasting and enabling proactive IT resolutions and business decisions [2][3] Group 2: Market Context - As enterprises face increasingly complex IT environments, the need for a unified, AI-powered hybrid observability platform is growing [3] - LogicMonitor's Edwin AI, combined with Infosys' AIOps Insights, is positioned to help enterprises achieve operational excellence, reduce costs, and ensure IT resilience [3] Group 3: Client Impact - Patrick Atkins from Sally Beauty Holdings highlighted a 40% increase in proactive issue detection capabilities and noise reduction, leading to minimized downtime and improved operational efficiency [3] - The collaboration is seen as instrumental in strengthening IT ecosystems and supporting operational excellence and sustained stability [3] Group 4: Company Background - Infosys is a global leader in digital services and consulting, with over 300,000 employees enabling clients in more than 56 countries to navigate digital transformation [5] - LogicMonitor is recognized as a visionary in the 2024 Gartner Magic Quadrant for Observability, providing operational visibility and predictability across technologies and applications [4]

Shares of NetSol Technologies, Inc. (NTWK) have risen 14.4% since the company reported its earnings for the third quarter of fiscal 2025. This compares to the S&P 500 index’s 1.4% gain over the same time frame. Over the past month, the stock has rallied 21.2% compared with the S&P 500’s 15.4% rise.Robust Growth in NTWK’s Revenues and EarningsFor the fiscal third quarter ended March 31, 2025, NetSol Technologies reported a 13% year-over-year increase in total net revenues, reaching $17.5 million compared to ...

Core Viewpoint - Criteo (CRTO) has experienced a significant decline in its stock price, losing 29.2% year-to-date, which is notably worse than the broader market indices and its industry peers [1][2]. Company Performance - The underperformance of Criteo's stock is attributed to tariffs and inflation affecting the industry, but the company is positioned for long-term growth despite macroeconomic uncertainties [2]. - In Q1 2025, Criteo's Retail Media on-platform revenues increased by 21% year-over-year, driven by heightened demand from advertisers and retailers [3]. - Off-platform monetization also saw growth, supported by a 60% increase in supply partners, indicating successful partnerships with retailers like Michaels, Dollar Tree, and Meijer [3]. Strategic Focus - Criteo is transitioning from its legacy retargeting business to focus on high-growth areas such as Retail Media and Commerce Audiences, with over 250 brands onboarded to its expanded platform [4]. - The company is enhancing its offerings with new features like dynamic sponsored products and video ads, which have strengthened its product suite [9]. Competitive Landscape - Criteo competes with major tech companies like Amazon, Google, and The Trade Desk, which have also seen declines in their stock prices [5]. - Criteo differentiates itself by providing retailer-direct access and a transparent, demand-driven platform that aligns with first-party data needs, leveraging its broad retail network and proprietary technology [6]. Financial Outlook - The Zacks Consensus Estimate for Criteo's 2025 earnings is $3.46 per share, reflecting an upward revision of 8.46% over the past 30 days, with a projected year-over-year increase of 16.98% [7]. - Revenue estimates are pegged at $1.15 billion, indicating a year-over-year growth of 2.41% [7]. - Criteo has beaten earnings estimates in three of the last four quarters, with an average surprise of 45.42% [8]. Investment Potential - Criteo's focus on high-growth areas and its recent expansion of the advertiser base by 11% year-over-year suggest strong market traction [9]. - The company currently holds a Zacks Rank 2 (Buy) and a Growth Score of A, indicating a favorable investment opportunity [10].