企业名称海南朝海熙致科技有限公司法定代表人徐仪注册资本500万人民币国标行业信息传输、软件和 信息技术服务业>软件和信息技术服务业>软件开发地址海南省万宁市和乐镇海榆东线西侧地段万宁市 阳光金鹿产业基地项目A6栋企业类型有限责任公司（自然人投资或控股的法人独资）营业期限2025-12- 8至无固定期限登记机关海南省市场监督管理局 来源：市场资讯 经营范围含一般经营项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；信息技 术咨询服务（经营范围中的一般经营项目依法自主开展经营活动，通过国家企业信用信息公示系统（海 南）向社会公示） 天眼查显示，近日，海南朝海熙致科技有限公司成立，法定代表人为徐仪，注册资本500万人民币，由 海南朝发熙致科技有限公司全资持股。 序号股东名称持股比例1海南朝发熙致科技有限公司100% ...

Group 1 - A new company, Yangzhou Runhan Trade Co., Ltd., has been established with a registered capital of 1 million RMB [1] - The legal representative of the company is Sun Zhixun [1] - The company's business scope includes various services and sales related to digital technology, IoT technology, software development, and electronic products [1] Group 2 - The company is involved in the sales and development of IoT applications and devices, as well as internet sales [1] - It also engages in the wholesale and retail of various products, including hardware, metal tools, photovoltaic equipment, and chemical products [1] - The company is permitted to operate in multiple sectors, including construction materials and daily necessities, without needing special licenses for most activities [1]

经营范围含一般经营项目是：软件开发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术 推广；人工智能公共服务平台技术咨询服务；大数据服务；集成电路芯片及产品销售；集成电路芯片设 计及服务；半导体器件专用设备销售；集成电路销售；集成电路设计；电子元器件批发；电子元器件零 售；半导体分立器件销售；半导体照明器件销售；电子产品销售；电力电子元器件销售；计算机软硬件 及辅助设备批发；电子专用材料研发；企业管理咨询；信息咨询服务（不含许可类信息咨询服务）；社 会经济咨询服务；市场营销策划；项目策划与公关服务；物业管理。（除依法须经批准的项目外，凭营 业执照依法自主开展经营活动），许可经营项目是：建设工程设计。（依法须经批准的项目，经相关部 门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准） 企业名称深圳市宇谧科技有限公司法定代表人甘治国注册资本200万人民币国标行业信息传输、软件和 信息技术服务业>软件和信息技术服务业>软件开发地址深圳市南山区桃源街道丽山社区留仙大道4168 号众冠时代广场A座1815企业类型有限责任公司(法人独资)营业期限2025-12-8至无固定期限 来源：市场资讯 天 ...

序号股东名称持股比例1上海盼山纶科技有限公司100% 经营范围含日用百货销售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）自主展示 （特色）项目：信息咨询服务（不含许可类信息咨询服务）；技术服务、技术开发、技术咨询、技术交 流、技术转让、技术推广；信息系统集成服务；社会经济咨询服务；专业设计服务；会议及展览服务； 市场营销策划；贸易经纪；翻译服务；家政服务；工程管理服务；园林绿化工程施工；金属材料销售； 金属结构销售；建筑材料销售；建筑装饰材料销售；包装材料及制品销售；橡胶制品销售；劳动保护用 品销售；日用品批发；针纺织品及原料销售；五金产品零售；日用陶瓷制品销售；照明器具销售；电子 产品销售；家用电器研发；机械电气设备销售；仪器仪表销售；仪器仪表修理；计算机软硬件及辅助设 备批发；互联网设备销售。 天眼查显示，近日，上海棋面塔实业有限公司成立，法定代表人为张理，注册资本1000万人民币，由上 海盼山纶科技有限公司全资持股。 企业名称上海棋面塔实业有限公司法定代表人张理注册资本1000万人民币国标行业信息传输、软件和信 息技术服务业>软件和信息技术服务业>软件开发地址上海市浦东新区洲海路2777 ...

企业名称闽链通科技（厦门）有限公司法定代表人季近庭注册资本1000万人民币国标行业信息传输、软 件和信息技术服务业>软件和信息技术服务业>软件开发地址厦门市集美区杏林湾路482号2004室之五企 业类型有限责任公司（自然人投资或控股）营业期限2025-12-8至无固定期限 来源：市场资讯 天眼查显示，近日，闽链通科技（厦门）有限公司成立，法定代表人为季近庭，注册资本1000万人民 币，闽商融合国际贸易（厦门）有限公司、中习丝合（厦门）数字经济研究院有限公司持股。 序号股东名称持股比例1闽商融合国际贸易（厦门）有限公司51.85%2中习丝合（厦门）数字经济研究 院有限公司33.15%3厦门赋商赢达投资合伙企业（有限合伙）15% 经营范围含科技推广和应用服务；科技中介服务；数字技术服务；工程管理服务；数字内容制作服务 （不含出版发行）；远程健康管理服务；网络技术服务；物联网技术服务；软件开发；计算机系统服 务；社会经济咨询服务；互联网数据服务；信息系统集成服务；信息技术咨询服务；信息咨询服务（不 含许可类信息咨询服务）。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）许可项 目：在线数据处理与交易处理业 ...

天眼查显示，近日，善调易解（厦门）网络科技有限公司成立，法定代表人为陈丽翔，注册资本500万 人民币，由易解智慧（厦门）网络科技有限公司全资持股。 序号股东名称持股比例1易解智慧（厦门）网络科技有限公司100% 经营范围含软件开发；技术推广服务；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推 广；法律咨询（不含依法须律师事务所执业许可的业务）；专业设计服务；信息咨询服务（不含许可类 信息咨询服务）；信息技术咨询服务；市场营销策划；咨询策划服务；项目策划与公关服务；企业管理 咨询；企业管理；社会经济咨询服务；教育咨询服务（不含涉许可审批的教育培训活动）；经济贸易咨 询；安全咨询服务；资产评估；个人商务服务；商务代理代办服务；动产质押物管理服务；价格鉴证评 估；认证咨询；融资咨询服务；土地调查评估服务；知识产权服务（专利代理服务除外）。（除依法须 经批准的项目外，凭营业执照依法自主开展经营活动）。 企业名称善调易解（厦门）网络科技有限公司法定代表人陈丽翔注册资本500万人民币国标行业信息传 输、软件和信息技术服务业>软件和信息技术服务业>软件开发地址厦门市思明区前埔中路323号莲前集 团大厦22层2-A ...

经营范围含软件开发；技术推广服务；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推 广；法律咨询（不含依法须律师事务所执业许可的业务）；专业设计服务；信息咨询服务（不含许可类 信息咨询服务）；信息技术咨询服务；市场营销策划；咨询策划服务；项目策划与公关服务；企业管理 咨询；企业管理；社会经济咨询服务；教育咨询服务（不含涉许可审批的教育培训活动）；经济贸易咨 询；安全咨询服务；资产评估；个人商务服务；商务代理代办服务；动产质押物管理服务；价格鉴证评 估；认证咨询；融资咨询服务；土地调查评估服务；知识产权服务（专利代理服务除外）。（除依法须 经批准的项目外，凭营业执照依法自主开展经营活动）。 企业名称易解数智（厦门）网络科技有限公司法定代表人陈丽翔注册资本500万人民币国标行业信息传 输、软件和信息技术服务业>软件和信息技术服务业>软件开发地址厦门市思明区前埔中路323号莲前集 团大厦22层2-A936单元（该住所仅限作为商事主体法律文书送达地址）企业类型有限责任公司(自然人 投资或控股的法人独资)营业期限2025-12-8至无固定期限 来源：市场资讯 天眼查显示，近日，易解数智（厦门）网络科技有限公司成 ...

Core Viewpoint - Zhongke Jiangnan (301153) has shown a slight increase in stock price, but the financial performance indicates significant challenges, with declining revenues and increasing losses [1][3]. Financial Performance - As of the third quarter of 2025, Zhongke Jiangnan reported a main business revenue of 364 million yuan, a year-on-year decrease of 26.28% [3]. - The net profit attributable to shareholders was -64.249 million yuan, a year-on-year decline of 1048.15% [3]. - The company’s gross profit margin stands at 53.19%, which is above the industry average of 43.84% [3]. Stock Performance and Market Activity - On December 8, 2025, the stock closed at 20.11 yuan, with a slight increase of 0.45% and a trading volume of 26,400 hands, amounting to a total transaction value of 53.53 million yuan [1]. - The net outflow of main funds was 244,100 yuan, accounting for 0.46% of the total transaction value, while retail investors saw a net inflow of 4.0561 million yuan, representing 7.58% of the total [1][2]. Industry Comparison - Zhongke Jiangnan's total market value is 7.096 billion yuan, which is below the industry average of 12.724 billion yuan, ranking 87 out of 195 companies [3]. - The company has a negative price-to-earnings ratio of -82.83, compared to the industry average of 123.35 [3]. Analyst Ratings - In the last 90 days, one institution has given a buy rating for Zhongke Jiangnan, with a target average price of 26.07 yuan [4].

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The total issuance scale of PULIAN Convertible Bonds is RMB 243 million, and the net proceeds after deducting issuance fees will be used for domestic ERP function expansion construction projects, digital intelligent financial risk control series product construction projects, and Yunhu platform R & D upgrade projects [4]. - The current bond - floor valuation is RMB 83.52, and the YTM is 2.97%. The conversion parity is RMB 103.8, and the parity premium rate is - 3.74%. The bond - floor protection is average, and the dilution pressure on equity is small [4]. - It is expected that the listing price of PULIAN Convertible Bonds on the first day will be between RMB 122.94 and RMB 136.97, and the subscription rate is expected to be 0.0011%. It is recommended to actively subscribe [4]. - PULIAN Software is a comprehensive service provider focusing on energy industry management software development. Since 2020, its revenue has fluctuated and increased, with a compound growth rate of 18.64% from 2020 - 2024. The net profit attributable to the parent has also fluctuated, with a compound growth rate of 9.81% from 2020 - 2024 [4]. - The company's sales net profit margin and gross profit margin have fluctuated and declined, the sales expense ratio has fluctuated and increased, the financial expense ratio has decreased steadily, and the management expense ratio has shown an "inverted U - shaped" fluctuation [5]. 3. Summary According to the Directory 3.1. Convertible Bond Basic Information - The issuance schedule of PULIAN Convertible Bonds is from December 3, 2025 (T - 2) to December 11, 2025 (T + 4), including steps such as publishing prospectuses, online roadshows, and determining subscription results [11]. - The convertible bond has a code of 123261.SZ, a face value of RMB 100, a term of 6 years, a rating of A +/A +, and an initial conversion price of RMB 18.26 per share. The conversion period is from June 11, 2026, to December 4, 2031 [12]. - The funds raised will be used for three projects, with a total investment of RMB 242.9326 million, all funded by the raised funds [13]. - The bond - floor value is RMB 83.52, the pure - bond premium rate is 19.73%, the conversion parity is RMB 103.89, and the parity premium rate is - 3.74%. The pure - bond YTM is 2.97% [13]. 3.2. Investment Subscription Suggestion - By referring to comparable convertible bonds and an empirical model, it is expected that the conversion premium rate of PULIAN Convertible Bonds on the first - day of listing will be around 25%, and the listing price will be between RMB 122.94 and RMB 136.97 [16][17]. - It is expected that the priority subscription ratio of original shareholders will be 59.95%, and the online subscription rate will be 0.0011% [18]. 3.3. Fundamental Analysis of the Underlying Stock 3.3.1. Financial Data Analysis - PULIAN Software is mainly engaged in providing informatization solutions and IT comprehensive services for large - scale group enterprises, with its business covering multiple aspects. It is expanding into the financial and other industries while deepening its traditional advantageous fields [19]. - From 2020 to 2024, the company's revenue had a compound growth rate of 18.64%, and the net profit attributable to the parent had a compound growth rate of 9.81%. In 2025 Q3, the revenue was RMB 300 million, and the net profit attributable to the parent was RMB 1 million [20]. - The company's revenue mainly comes from industries such as petroleum and petrochemical, construction and real estate, coal and power, etc., and the product structure changes annually. The sales net profit margin and gross profit margin have declined, while the sales expense ratio has increased, and the financial expense ratio has decreased [22][24]. 3.3.2. Company Highlights - The company has long - term cooperation with large central enterprises, has strong innovation and delivery capabilities, and has a high brand reputation and industry status in the field of large - scale group enterprise informatization [31]. - It is an early software manufacturer in China to master the XBRL standard system and key technologies. Its XBRL - related systems and products have been widely applied in many customers [31].

Group 1 - The Sci-Tech Innovation Board indices showed significant gains, with the Sci-Tech Growth Index up by 3.2%, the Sci-Tech Green Index up by 2.0%, and both the Sci-Tech 50 Index and Sci-Tech 100 Index up by 1.9% [1] - The computing hardware sector experienced a surge, with notable stocks such as Ruikeda rising by 20%, Electric Power increasing by over 18%, and Changguang Huaxin gaining over 15% [1] - The AI application sector was also active, with stocks like Kaipu Cloud rising over 13%, Huichen Shares increasing by over 10%, and Pinggao Shares up by over 6% [1] Group 2 - The Sci-Tech 50 ETF tracks the Shanghai Stock Exchange Sci-Tech 50 Index, which consists of 50 stocks with high market capitalization and liquidity, prominently featuring "hard technology" companies, with over 65% in semiconductors and nearly 80% combined with medical devices, software development, and photovoltaic equipment [3] - The Sci-Tech 100 ETF follows the Shanghai Stock Exchange Sci-Tech 100 Index, which includes 100 stocks with medium market capitalization and good liquidity, focusing on small and medium-sized innovative companies [4] - The Sci-Tech Comprehensive Index ETF covers all securities in the Sci-Tech Board, focusing on core industries such as artificial intelligence, semiconductors, new energy, and innovative pharmaceuticals, encompassing all 17 primary industries listed on the Sci-Tech Board [7]