Core Viewpoint - Zhong An Xin Ke (Shenzhen) Co., Ltd. has officially submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise capital for its enterprise-level AI solutions focused on intelligent marketing and operations management [3]. Company Overview - Zhong An Xin Ke was established in December 2021 and specializes in providing enterprise-level AI solutions, particularly in intelligent marketing and operations management [3]. - The company ranks fourth among enterprise-level AI solution providers in China with vertical large model capabilities, based on projected revenues for 2024 [3]. Financial Performance - For the fiscal year ending December 31, 2023, Zhong An Xin Ke reported revenues of RMB 225.864 million, with a gross profit of RMB 30.924 million and a net profit of RMB 10.082 million [4]. - Projected revenues for 2024 and 2025 are RMB 308.532 million and RMB 290.421 million, respectively, with corresponding gross profits of RMB 83.984 million and RMB 118.367 million [4]. - The company’s net profit for the first nine months of 2024 is projected to be RMB 33.231 million, showing a significant increase compared to the previous year [4]. Shareholding Structure - Prior to the IPO, the controlling shareholder, Zhong Xing You Mi, along with other entities, holds approximately 38.93% of the voting rights in the company [7]. - Zhong An Technology, a wholly-owned subsidiary of Zhong An Online, is the second-largest shareholder with a 35.49% stake [7]. Management Team - The founding team includes Yu Feng, Zhou Zhengyu, Mao Yifeng, Wang Min, and Niu Chenghao, all of whom have backgrounds in Zhong An Online and its subsidiaries [5]. - Yu Feng serves as the Executive Director and CEO, overseeing the company's strategic planning and operations [8]. - Mao Yifeng is the Technical Director and Vice President, responsible for product development and technology [9]. - Zhou Zhengyu holds the position of Executive Director and CFO, focusing on financial planning and board operations [10].

Financial Data and Key Metrics Changes - Revenue for Q1 2026 was $343 million, reflecting a 2% sequential increase and a 1% year-over-year increase, despite not recognizing any hyperscale hardware revenue [5][17] - Non-GAAP gross margins were 30%, which is favorable compared to the midpoint of the full-year outlook [5] - Non-GAAP operating income was $42 million, up 1% year-over-year, leading to Non-GAAP diluted earnings per share of $0.49, flat year-over-year [6][19] Business Line Data and Key Metrics Changes - Advanced Computing revenue was $151 million, up 9% compared to the previous quarter but down 15% year-over-year [9][18] - Integrated Memory revenue reached $137 million, up 41% year-over-year [11][18] - Optimized LED revenue was $55 million, down 18% sequentially [13][18] Market Data and Key Metrics Changes - The company is seeing a shift from hyperscaler deployments to broader enterprise adoption, with early signs of workloads evolving towards inference-oriented use cases [6][40] - Demand for memory products is strong across various sectors, including networking and telecommunications [11][12] Company Strategy and Development Direction - The company is transitioning from a holding company to an AI solutions provider, focusing on customer diversification and new business development [7][15] - Partnerships with ecosystem partners like Nvidia and AMD are being strengthened to support customer success in AI deployments [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for long-term success, citing a strong balance sheet and a growing customer base [16][28] - The outlook for FY26 anticipates a stronger second half compared to the first half, driven by AI opportunities in the pipeline [25][28] Other Important Information - The company signed an agreement to sell its remaining 19% stake in Zillia Technologies for $46 million, expected to close in Q3 FY26 [14] - Cash flows from operating activities increased by 125% to $31 million compared to Q1 of the previous year [23] Q&A Session Questions and Answers Question: Fiscal first half versus fiscal second half guidance - Management indicated that the second quarter revenue might see a decline, particularly in advanced computing, due to timing issues with new customer agreements [30][32] Question: Challenges or constraints in memory product shipping - Management noted that they are navigating supply constraints effectively, which has allowed for a more favorable outlook on memory revenue growth [31][34] Question: Shift from hyperscalers to enterprise deployments - Management observed an evolution towards increased enterprise opportunities, indicating a shift in capital expenditure from large hyperscalers to broader corporate applications [39][40] Question: Inventory levels as a leading indicator for future shipments - Management confirmed that while inventory levels remain elevated, they are turning inventory quickly and do not foresee concerns regarding inventory management [42]

Financial Performance - Penguin Solutions' net sales for Q1 FY26 were $343 million, a 1% increase year-over-year (YoY)[10] - The non-GAAP gross margin was 30.0%, a decrease of 0.8 percentage points YoY[10] - Non-GAAP operating income reached $42 million, up 1% YoY, with a non-GAAP operating margin of 12.1%, up 0.1 percentage points YoY[10] - Non-GAAP diluted earnings per share (EPS) remained flat YoY at $0.49[10] Segment Performance - Advanced Computing net sales were $151 million in Q1, up 9% compared to Q4 FY25[25] - Integrated Memory revenue was $137 million in Q1, a significant increase of 41% YoY[27] - Optimized LED net sales were $55 million in Q1, down 18% YoY, but achieved an operating income of $3.5 million, up 24% sequentially[30] Balance Sheet and Cash Flow - Net accounts receivable stood at $342 million[43] - Inventory was valued at $213 million[43] - Cash, cash equivalents, and short-term investments totaled $461 million at the end of the period[43] - Net cash from operating activities from continuing operations was $31 million[43] Stock Repurchase - Penguin Solutions repurchased 791,000 shares for $15 million in Q1 FY26[46] - Since April 2022, the company has repurchased 7.4 million shares for a total of $128 million[46] FY26 Outlook - Penguin Solutions anticipates net sales growth of 6% YoY, with a potential variance of +/- 10%[48] - The projected gross margin is 29% +/- 1%[48] - Operating expenses are expected to be $250 million +/- $10 million on a non-GAAP basis[48] - Non-GAAP diluted earnings per share are forecasted at $2.00 +/- $0.25[48]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Zhongan Information Technology (Shenzhen) Co., Ltd. 眾 安 信 科（ 深 圳 ）股 份 有 限 公 司 (the "Company") (A joint stock compan ...

万怡医学是中国领先的AI驱动解决方案提供商，致力于赋能医师的人才发展。根据弗若斯特沙利文的资料，按2024年 的可比较收益计，该公司在中国的医学学术、教育及研究的综合AI解决方案市场中排名第一。透过公司的产品及服 务，万怡医学已逐渐发展出一个生态系统，连接医师及不同的机构医疗卫生参与者，以加速医学知识的传播、促进医 师教育并推动研究成果转化为实际应用。 智通财经APP获悉，据港交所1月1日披露，上海万怡医学科技股份有限公司(简称：万怡医学)向港交所主板递交上市申 请，光大证券国际为其独家保荐人。 ...

Fundraising and Acquisitions - Brookfield India Real Estate Trust has launched a ₹3,500-crore qualified institutional placement (QIP) issue to raise funds, approved by the board on December 4 [1] - Samvardhana Motherson International Ltd has approved the acquisition of the remaining 10 per cent stake in Motherson Lumen Systems South Africa Pty Ltd for ₹5.19 crore, making it an indirect wholly-owned subsidiary [4] Operations and Projects - Tata Power Company anticipates resuming operations of its supercritical thermal plant in Mundra by December 31, 2025, after being shut since July [3] - RNIT AI Solutions Ltd has secured a new project with the Department of Legal Metrology, Andhra Pradesh, to implement an AI-driven digital platform suite for modernising operations [5] - Deepak Chem Tech has begun operations at its new nitric acid plant in Nandesari, Vadodara, Gujarat, after an investment of approximately ₹515 crore [9] Contracts and Collaborations - Diamond Power Infrastructure has received a significant order valued at ₹747.64 crore from Adani Green Energy for the supply of high-voltage and medium-voltage cables for renewable energy projects [7] - HCL Technologies has announced a partnership with Strategy to support the rollout of Strategy Mosaic, an AI-powered universal semantic layer [6] - SEAMEC has finalized an agreement with HAL Offshore for the deployment of its multi-support vessel SEAMEC Agastya for a five-year period under an ONGC contract [8]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $11.5 million, down from $11.7 million in Q2 2025, with some revenue migration dilution due to technology platform migration [8][9] - Cash decreased to $10.3 million from $10.5 million at the end of Q2 2025, primarily due to the timing of customer payments [9] - Anticipated sequential decline in revenue and adjusted EBITDA for Q4 2025, but expected sales growth moving into 2026 [9][10] Business Line Data and Key Metrics Changes - Continued progress in launching new products and accelerating sales bookings to the highest levels of the year [6] - Focus on large vertical markets, delivering industry-specific AI solutions across various sectors including automotive, healthcare, and advertising [6][7] Market Data and Key Metrics Changes - The company is positioned to expand into a larger addressable market by selling bundled solutions that integrate insights, actions, and outcomes [21][14] - The potential combined company with Arcaneum could achieve a revenue run rate of approximately $15 million quarterly, growing in the 15%-20% range in 2026 [14] Company Strategy and Development Direction - The company aims to evolve from providing strategic analytics to delivering comprehensive AI-powered solutions that enhance customer acquisition and optimization [4][5] - The acquisition of Arcaneum is expected to create a vertically focused, AI-driven customer acquisition platform, enhancing market reach and strategic flexibility [13][14] Management's Comments on Operating Environment and Future Outlook - Management believes the company is at a positive inflection point, with significant opportunities for growth through AI-driven solutions [4][5] - The focus will be on maximizing revenue growth while maintaining positive adjusted EBITDA margins of 10% or more [22] Other Important Information - The agreement to acquire Arcaneum includes a $10 million convertible promissory note and an earnout based on performance metrics [11][12] - The anticipated closing date for the acquisition is in the first half of 2026, pending approval from disinterested stockholders [12] Q&A Session Summary Question: What is the TAM for the combined solution? - The addressable market for the combined company is expected to be multiples of the current market, with significant customer acquisition budgets tied to insights [21] Question: How does the company view the trade-off between growth and profitability? - The focus is on maximizing revenue growth while maintaining positive adjusted EBITDA margins, prioritizing customer penetration and scaling [22] Question: How does growth break down between new and existing customers? - The company believes it can achieve a $100 million revenue opportunity much sooner with the combined capabilities, leveraging existing customer relationships [23][24]

Core Viewpoint - Rezolve Ai is actively engaging with investors through participation in upcoming conferences and a non-deal roadshow to enhance visibility and connect with institutional investors [1][3]. Group 1: Upcoming Events - Rezolve Ai will participate in the RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference on November 18, 2025, where CEO Daniel M. Wagner will engage in a fireside chat [2]. - The company will also attend the 14th Annual Roth Technology Conference on November 19, 2025, further increasing its visibility in the investment community [3]. Group 2: Investor Engagement - Rezolve Ai is launching a multi-city non-deal roadshow starting this week, aimed at connecting with leading institutional and growth investors [3]. - Investors interested in meeting with Rezolve Ai during the conferences can contact their representatives at the sponsoring investment firms [3]. Group 3: Company Overview - Rezolve Ai (NASDAQ: RZLV) specializes in AI-powered solutions that enhance customer engagement, operational efficiency, and revenue growth [4]. - The company's Brain Suite offers advanced tools that leverage artificial intelligence to optimize processes and improve decision-making [4].

Core Insights - Rezolve Ai is set to release its financial results for the first half of 2025 on October 1, 2025, highlighting the rapid adoption of its AI platform and its strategic positioning in the $30 trillion global retail market [1][4] Group 1: Financial Performance - The company is expected to report record first-half performance, driven by the rapid adoption of its Brain Suite across key global markets [4] - Major partnerships and new customer acquisitions are fueling accelerated revenue growth and geographic expansion [4] Group 2: Strategic Initiatives - Strong execution of strategic initiatives includes advancements in AI innovation, the introduction of crypto-enabled checkout, and expansion efforts in the U.S. and Europe [4] - Rezolve Ai is uniquely positioned at the intersection of AI and retail, capitalizing on a significant market opportunity [4] Group 3: Investor Engagement - Management will host a live conference call on October 1, 2025, at 8:30 am Eastern Time to review the financial results and provide a business update [2] - The live webcast of the conference call will be available on Rezolve Ai's Investor Relations website, with a replay accessible afterward [2]