数字化就业服务优势及收费模式 相较于BOSS直聘、智联招聘等第三方人力资源企业，德生科技数字化就业服务优势明显。面向G端， 作为人社运营服务商深度参与多个国家级、省级公共就业服务项目并获专项资金支持；面向C端，凭借 政府合作优势，聚焦重点人群打造新就业业态服务品牌，通过"线上平台 + 线下驿站"触达用户，实现人 岗精准匹配与闭环运营；面向B端，为企业客户提供劳务咨询等增值服务，按服务量或次数结算。收费 模式主要是政府专项资金结算及向B端收取运营服务费。 投资者参观完展厅后，公司介绍了近期在AI应用、就业服务、就医服务等方面的进展，并与投资者进 行交流，以下为本次调研的精彩要点： 大模型在核心场景进展及营收情况 9月10日15:00 - 17:30，广东德生科技股份有限公司在公司会议室接待了包括广东国健安证券基金、华银 基金等在内的16家机构及个人投资者的特定对象调研与现场参观。公司董事长兼总经理虢晓彬先生，副 总经理兼董事会秘书、财务总监陈曲女士，证券事务代表赵丹敏女士参与接待。 在就业场景，公司自主研发大模型借助AI实现人岗精准匹配，已在北京、湖北、河南、广东等省市落 地标杆服务案例。政务场景中，依托AI大 ...

投资者关系活动记录表 编号：2025-008 | 投资者关系活动类 | 特定对象调研 分析师会议 | | --- | --- | | 别 | □媒体采访 业绩说明会 | | | □新闻发布会 路演活动 | | | 现场参观 其他 | | 参与单位名称及人 | 广东国健安证券基金、华银基金、贤能传家、汇垠澳丰股权投资、 | | 员姓名 | 南传私募、花城荟私募、通达投资、君瓴投资、和朴资本、泽恩 | | | 投资、恒泰昌控股、思德医疗、中信证券、中信建投、方正证券、 | | | 华福证券、个人投资者 | | 时间 2025 | 年 9 月 10 日 15:00-17:30 | | 地点 | 公司会议室 | | 上市公司接待人员 | 董事长兼总经理 虢晓彬先生 | | 姓名 | 副总经理兼董事会秘书、财务总监 陈曲女士 | | | 证券事务代表 赵丹敏女士 | | 投资者关系活动主 | 投资者参观完展厅后，公司主要介绍近期在 AI 应用、就业服 | | 要内容介绍 | 务、就医服务等方面的进展，并与投资者进行交流，纪要如下： | | 问题 | 1：公司自主研发的大模型在就业、政务等核心场景的进展 | ...

Group 1 - The implementation of the new social security regulations starting in September is expected to provide significant development opportunities for government service enterprises, as it elevates policy execution to a legal level [1] - The company has established a grassroots service network covering nearly 170 cities and is leveraging AI technology to optimize core service scenarios such as employment, medical care, and government affairs [1] - The company has developed a large model named "Zhiwei Jieyu" specifically for the human resources vertical, accumulating service data from over 100 cities, which will enhance the training and inference capabilities of the model [1] Group 2 - In the employment scenario, the company focuses on key demographics such as flexible workers, college graduates, and veterans, using AI tools to improve job matching efficiency and providing comprehensive services including training support and subsidy applications [2] - The company has partnered with China UnionPay and Guangzhou Medical Insurance to develop a "seamless medical payment platform," facilitating convenient payment and contract services through its "Bianmin Yifutong" mini-program [2] - The company is enhancing its data asset operations by integrating various data resources and collaborating with data merchants and local governments to break through traditional human resources business limitations [2]

Group 1: Business Impact of New Regulations - The implementation of new social security regulations will elevate policy execution to a legal level, providing significant development opportunities for government service enterprises. The company has established a grassroots service network covering nearly 170 cities, enhancing the efficiency of social security service solutions [2][3]. Group 2: Technological Integration and Innovation - The company is leveraging AI technology to optimize core service scenarios such as employment and medical services, having developed a large model "Zhiwei Jieyu" with service data from over 100 cities. This technological advancement is expected to positively impact business progression [2][3]. Group 3: Data Operations and Market Positioning - The company has recently won the bid for the "Guangzhou Data Exchange (Tianhe) Service Zone Operation" project, aiming to enhance data operation services by integrating various data resources and promoting the assetization of data [3][4]. Group 4: Employment and Medical Service Strategies - In the employment sector, the company focuses on flexible workers, college graduates, and veterans, utilizing AI tools to improve job matching efficiency and providing comprehensive services such as training and subsidy applications. In the medical sector, partnerships with China UnionPay and Guangzhou Medical Insurance have led to the development of a seamless payment platform for medical services [5][6]. Group 5: Market Challenges and Future Directions - The company faces challenges in business expansion due to cyclical market demand adjustments and increased complexity in G-end project initiation. This necessitates a transformation in business models and organizational structure, which has temporarily raised management costs and time investments [5][6]. The company prefers partnerships with entities possessing core resources and operational capabilities for potential mergers and acquisitions [6][7].

Core Viewpoint - Guangdong Desheng Technology Co., Ltd. has engaged in a comprehensive investor survey with 25 institutions, providing insights into its operational status, future development directions, and business breakthroughs [1] Group 1: Investor Relations Activity - The investor relations activities included targeted surveys, performance briefings, site visits, and conference calls, scheduled for August 24 and August 26, 2025 [2] - Participants included various investment institutions, financial media, and securities firms, with key company representatives present [2] Group 2: Operational Analysis - The company reported significant growth in its card issuance business, with a year-on-year increase of 20.47% in the issuance of third-generation cards, totaling over 11 million cards [3] - New contracts in human resources operations and big data services grew by 12.87% year-on-year, expected to positively impact performance in the second half of the year [3] - The gross profit margin improved by 4.03% year-on-year, attributed to the reduction of low-margin businesses and optimization of employment service models [3] - Despite a decrease in absolute values of three major expenses, their proportion of revenue increased year-on-year, indicating a need for improved cost efficiency [3] - The G-end business faced pressure due to extended project initiation cycles and increased complexity, prompting a transformation in the business model [3] - Organizational restructuring costs increased due to the transformation of the business model, leading to higher management costs and time investment [3] Group 3: Future Development Directions - The company aims to solidify its position as a "social security card service provider," focusing on employment, medical, and government services, and creating a human-centered service ecosystem in collaboration with B-end partners [3] - Leveraging AI, the company plans to establish an integrated online and offline operational service system to achieve sustainable revenue, with significant market potential [3] Group 4: Q&A Highlights - AI applications have been successfully implemented in government, employment, and medical scenarios, with over 100 cities covered in government services and an accuracy rate exceeding 99% in Dongguan [4] - The revenue share from human resources operations and big data services is nearly 30%, with AI applications expected to offset declines in traditional business [4] - The employment service model has been standardized for rapid replication across cities, enhancing job matching efficiency through AI [4] - The company sees opportunities in stablecoins as financial innovation tools, exploring their integration with social security card issuance and public service scenarios [4] - In the medical field, the company has partnered with UnionPay and medical insurance to develop a "seamless medical payment platform," with nearly 3 million signed users [4] - The company anticipates stable card issuance rates in the coming years, with some cities having over 50% potential for third-generation card replacements [4] - The reduction in shareholding by the controlling shareholder was to alleviate pledge liabilities from a previous non-public share issuance [4] - Despite challenges from market conditions and G-end business, the company remains confident in its profitability and performance transformation, referencing an employee stock ownership plan released in April [4]