Group 1 - On July 23, Jinlong Co., Ltd. announced that Guangdong Shenbao Yiben and Shenzhen Shenbao Yiben intend to transfer a combined 29.3151% stake in Shenzhen Benmao Technology Co., Ltd. to the company [1][4] - Guangdong Shenbao Yiben holds 16.4345 million shares of Shenzhen Benmao, accounting for 23.2427% of the total share capital, while Shenzhen Shenbao Yiben holds 4.2937 million shares, accounting for 6.0724% [4] - Shenzhen Benmao focuses on the full industry chain services centered on intelligent computing centers and computing power services, providing comprehensive solutions for green and low-carbon intelligent computing centers [4] Group 2 - Shenzhen Benmao's total assets are projected to be 1.978 billion yuan, with net assets of 485 million yuan by the end of 2024, and an expected operating income of 869 million yuan and net profit of 53.6247 million yuan for the same year [4] - Jinlong Co., Ltd. has faced significant performance pressure, reporting losses for four consecutive years from 2021 to 2024, with total revenues of 1.663 billion yuan in 2024 and a net profit of -89 million yuan [4][5] - Due to debt pressures, Jinlong Co., Ltd. has been planning to sell stakes in two brokerage firms to recover funds, including a 20% stake in Dongguan Securities sold for a base price of 2.272 billion yuan [5]

Core Viewpoint - Jinlong Co., Ltd. is shifting its focus towards acquiring intelligent computing service companies to accelerate its business transformation after facing years of losses and increasing debt pressure [1][3]. Group 1: Acquisition Plans - On July 23, Jinlong announced its intention to acquire a 29.31% stake in Shenzhen Benmao Technology Co., Ltd. to expedite its business transformation [1][3]. - The acquisition is expected to enhance Jinlong's revenue and profitability, creating more value for the company and its shareholders [3]. - Shenzhen Benmao, established in 1997, specializes in the full industry chain services related to intelligent computing centers, with total assets of 1.978 billion and net assets of 485 million as of the end of 2024 [3]. Group 2: Financial Performance and Debt Issues - Jinlong has been facing continuous losses, with net profits of -131 million, -392 million, -384 million, and -89 million from 2021 to 2024 [6]. - The company's debt-to-asset ratio has been increasing, reaching 81.09% in 2024 [6]. - To alleviate financial pressure, Jinlong has been selling its stakes in brokerage firms, having completed the sale of 20% of Dongguan Securities for 2.272 billion [7]. Group 3: Previous Projects and Developments - Jinlong previously planned to invest in building an intelligent computing center with a total investment of no more than 1 billion, but there have been no recent updates on this project [4][5]. - The company had to terminate the sale of its stake in Zhongshan Securities to avoid potential operational issues [6].

Core Viewpoint - Jinlong Co., Ltd. plans to acquire a total of 29.3151% shares of Shenzhen Benmao Technology Co., Ltd. from two investment partnerships, which is expected to facilitate the company's business transformation and enhance its revenue and profitability potential [1][2]. Group 1: Acquisition Details - The acquisition involves Guangdong Shenbao Yiben and Shenzhen Shenbao Yiben, which hold 23.2427% and 6.0724% of Shenzhen Benmao's shares, respectively [1]. - The parties have signed a Letter of Intent on July 22, 2025, and the transaction is currently in the planning stage [1][3]. - The acquisition is not classified as a related party transaction and will follow the necessary decision-making procedures once details are finalized [1]. Group 2: Shenzhen Benmao's Financials - As of the end of 2024, Shenzhen Benmao reported total assets of 1.978 billion yuan and net assets of 485.487 million yuan, with an operating income of 869.494 million yuan and a net profit of 53.6247 million yuan [2]. Group 3: Jinlong's Financial Performance - Jinlong has reported losses for four consecutive years, with net profits of -131 million yuan, -392 million yuan, -384 million yuan, and -89 million yuan from 2021 to 2024 [4]. - In 2024, Jinlong's total revenue was approximately 662.65 million yuan, a 245.16% increase from the previous year, while the net profit loss improved by 76.77% compared to 2023 [5]. - As of March 31, 2025, Jinlong's total assets were 23.013 billion yuan, with a debt ratio of 81.25% [6].

Core Viewpoint - The 2025 DEMO WORLD Enterprise Innovation and Investment Conference will be held in Shanghai Songjiang, focusing on the integration of technological and industrial innovation, particularly in the intelligent computing service sector [1] Group 1: Event Overview - The conference will feature a special session on "Intelligent Computing Services & Shanghai Songjiang Economic Development Zone," aimed at showcasing the vitality of the intelligent computing industry and fostering cross-industry collaboration [1] - The event is organized by Chuangyebang, in collaboration with various local government entities, to promote innovation and investment opportunities in the region [1] Group 2: Industry Development - The intelligent computing service sector is one of the seven key industries in Songjiang's "2+7" modernization industrial system, with plans to establish a core supply source for intelligent computing in the Yangtze River Delta by around 2030 [1] - Songjiang aims to support the intelligent computing industry through nine initiatives, including financial support of up to 200 million yuan for qualifying enterprises [1] Group 3: Economic Performance - Songjiang Economic Development Zone ranks 16th among 233 national-level development zones in China and 2nd in Shanghai, housing 108 high-tech enterprises and 47 specialized and innovative companies [2] - The intelligent computing capacity in the Songjiang Economic Development Zone reaches 31,300 PetaFLOPS, positioning it among the leaders in the Yangtze River Delta [2] Group 4: Conference Activities - The conference will include presentations on the latest industry policies and investment environments, as well as deep sharing from leading enterprises and their partners [3] - A "New Quality Discussion" segment will feature over 10 intelligent computing service companies sharing their latest technologies and products, followed by a roundtable discussion on investment trends [4]

Group 1: Company Overview and Transformation - The company has transformed into a comprehensive solution provider in intelligent computing services, smart security, audio-video monitoring, AI applications, and digital watermarking technology [2][4] - The company focuses on maintaining strong cooperation with clients and enhancing its competitive edge through technology innovation and resource integration [4][5] Group 2: Competitive Advantages - The company possesses competitive advantages in technology R&D capabilities, product innovation, industry resources, and a professional team [2][4] - In the intelligent computing service sector, the company has developed a moderately sized and competitive R&D team focusing on large model algorithms and big data development [4][6] Group 3: Financial and Structural Support - The controlling shareholder, Beijing Muchao Holdings, will provide financial support and enhance corporate governance, which is expected to improve the company's operational capabilities and profitability [5][6] - The company is undergoing a major asset restructuring, with due diligence and auditing processes currently in progress [4][5] Group 4: Future Development Strategy - The company aims to capitalize on opportunities in AI and large model technology, enhancing product quality and efficiency through innovation [6][7] - Plans include accelerating the application of digital watermarking technology and expanding customer groups and application scenarios [6][7] Group 5: Communication and Updates - The company acknowledges the need for timely updates on its website and subsidiary information, indicating ongoing improvements in management and business operations [6][7]