格隆汇12月16日丨新开普(300248.SZ)在投资者互动平台表示，公司为高校提供AI中台、AI门户、AI数 据治理等多维度产品技术和服务，为高校的教、学、管、评、研等业务过程提供了多项AI技术应用， 如"AI+智慧迎新"、"一校通AI助手"、"校园AI助理""AI驾驶舱""AI实训助教"等。公司一方面基于AI原 生价值创造，开展模型定向训练，持续增强星普系列模型，通过问答、办事、问数能力，构建丰富的校 园智能体，以及降低师生使用门槛的智能体创作平台；另一方面，公司通过原有智慧校园产品线+AI， 实现存量产品的智能化升级。公司已经为20多个高校提供了个性化的AI技术应用。同时，公司打造首 个专注于高校场景的垂类大语言模型——"星普大模型"，已经于2025年7月份完成中央网信办备案（备 案编号：Henan-XingPu-202505200004），在多个院校上线。公司基于阿里云、通义千问大模型、语音 识别、云安全防护等产品进行方案整合共同服务数智校园的生态建设。 ...

Core Insights - The company has significantly increased the speed and quantity of its AI-related business projects, focusing on market expansion and opportunity conversion to achieve solid performance returns [1] - The company has developed a specialized large language model for higher education, named "Xingpu Model," based on Alibaba's Tongyi Qianwen model, which has been registered and implemented in several universities [1] Group 1 - The company is concentrating on transforming growth momentum into tangible performance returns [1] - The "Xingpu Model" has been launched in institutions such as Northwest Minzu University and Shanghai Electric Power University [1] - The company has completed the registration of the "Xingpu Model" with the registration number Henan-XingPu-202505200004 [1] Group 2 - An investor inquired about the cumulative amount of AI-related orders and whether it has exceeded expectations compared to the beginning of the year [3] - The investor also asked about the commercial transformation achieved with the education vertical model developed in collaboration with Alibaba Cloud and the increase in average revenue per school compared to traditional solutions [3] - The inquiry highlighted the potential impact of these data points on the company's performance improvement in the second half of the year [3]

Core Viewpoint - The company XinKaipu (300248) has successfully completed multiple rounds of testing and validation for its "One School One Machine" solution, receiving certifications from Kunpeng and Huawei, as well as from the openEuler community for full-stack optimization testing [1] Group 1 - The "One School One Machine" solution has undergone extensive testing and has received multiple certifications [1] - The company has launched the "Xingpu Large Model," which has achieved deep adaptation certification with Haiguang CPU processors and DCU accelerator card series [1]

Core Viewpoint - The company has successfully tested and validated its "One School One Machine" solution, receiving certifications from Kunpeng and Huawei, as well as from the openEuler community for full-stack tuning [1] Group 1 - The "One School One Machine" solution has undergone multiple rounds of testing and validation [1] - The company has obtained certification and authorization from Kunpeng and Huawei for its solution [1] - The openEuler community has also granted full-stack tuning test certification for the solution [1] Group 2 - The company has launched the "Xingpu Large Model," which has completed deep adaptation certification with Haiguang CPU processors and DCU accelerator card series [1]

Core Insights - The company has served over 10,000 leading enterprises and more than 70 of China's top 500 companies in the smart government and enterprise sector [1] - The company is focusing on deep integration of AI with service scenarios, aiming to enhance user experience and operational efficiency [1] Smart Government and Enterprise Sector - The company utilizes AI intelligent Q&A to cover high-frequency self-service scenarios such as recharge and loss reporting, achieving "one question answered, one answer processed" [1] - AI algorithms are employed to analyze user data for customized service recommendations and alerts, creating a closed loop of "self-service - employee efficiency - precise operations" [1] Gas Sector - The company has developed a domestically produced ultrasonic gas metering module, positioning itself in the first tier of domestic production and breaking foreign monopolies [1] - It is the first company to achieve large-scale application of gas measurement with over 10,000 units in the field, establishing strategic partnerships with multiple gas companies and smart meter manufacturers [1] Smart Agriculture and Water Management - The company has provided services to over ten provinces and hundreds of cities in the smart agriculture and water management sector [1] - Through an integrated solution of "AI + production scenarios," the company promotes innovative development in smart agriculture [1] - The self-developed Xingpu large model powers the agricultural AI assistant, which utilizes vast data to provide optimal irrigation and fertilization plans based on various factors [1] - The collaboration of smart water and fertilizer integration machines with field intelligent valves enables precise irrigation and fertilization, supporting increased yield in grain and oil production [1]

Core Viewpoint - The company reported a significant improvement in its business performance in the second quarter of 2025, indicating a positive trend towards recovery and growth in the education technology sector. Financial Performance - In the first half of 2025, the company achieved operating revenue of 314 million yuan, with a net profit attributable to shareholders of -31.17 million yuan [1] - The second quarter saw a substantial increase in revenue to 176 million yuan, representing a year-on-year growth of 1.32% and a quarter-on-quarter increase of 27.87% [1] - The net profit for the second quarter was 3.20 million yuan, showing a remarkable quarter-on-quarter growth of 109.31% [1] AI Strategy Implementation - The company adopted a dual-track AI strategy, "AI+" and "+AI," to reshape its business model and create a complete closed-loop from foundational models to upper-layer applications [2] - The company developed a specialized campus-oriented large model (32B) and enhanced its capabilities in natural language processing, significantly improving its services in educational settings [2] - The "AI+" strategy includes the creation of various intelligent agents to assist teachers and students, while the "+AI" strategy integrates AI with existing services to enhance operational efficiency [2] User Engagement and Product Offering - The "Perfect Campus" app has a substantial user base with 2.6 million daily active users and 7.5 million monthly active users, serving as a key platform for delivering AI services to end-users [3] Market Position and Growth - The company has solidified its leading position in the smart campus sector, with over 40% market share in higher education and partnerships with numerous prestigious institutions [4] - In the smart government and enterprise sector, the company serves over 10,000 leading industry clients, including major corporations like Huawei and Tencent, and has expanded its customer base in 2025 [4] Policy Support and Future Outlook - Recent policies promoting digital transformation in education provide a supportive environment for the company's growth and innovation in smart campus services [5] - The company aims to deepen its AI technology development and application, focusing on converting new orders into revenue and maintaining steady annual growth [5]

Group 1: Company Overview - Newcap is a leading company in the smart campus sector in China, focusing on campus management and educational information solutions since its establishment in 2000 [1] - The company has served over 1,400 higher education institutions, achieving a market share exceeding 40% [1] - Newcap provides a comprehensive suite of information solutions, including smart campus digital infrastructure and management systems, through software, hardware, and cloud services [1] Group 2: AI Product Matrix - The company has developed an AI+education architecture, featuring three core components: the campus-specific Star Model, a customizable intelligent creation platform, and high-frequency application intelligent assistants [2] - The Star Model leads the industry in semantic understanding and SQL intelligent generation, supported by a fully self-developed system [2] Group 3: Competitive Advantages - Newcap's AI applications are tailored to the specific needs of higher education, differentiating it from general-purpose solutions offered by major tech companies [3] - Key advantages include strong alignment with campus management pain points, robust data closed-loop capabilities, lightweight deployment solutions, and hardware-software integration [3] Group 4: Market Opportunities - The market potential for Newcap's AI products is driven by educational digitalization policies, the need for improved campus management efficiency, and the ongoing penetration of AI technology in education [4] - The company is actively pursuing AI project opportunities and has provided intelligent creation tools and model services to several universities [4] Group 5: Traditional Business Growth - The growth potential in traditional business areas is significant, particularly in campus finance, logistics, and security, with increasing demand for information solutions [5] - The integration of AI technology accelerates product upgrades and enhances management and teaching efficiency, supported by a solid customer base in prestigious universities [5] Group 6: Collaboration with Alibaba - Newcap collaborates with Alibaba across multiple dimensions, including capital, technology, and resource ecosystems, with Ant Group being the second-largest shareholder [5] - The partnership leverages Alibaba Cloud's computing resources for model training and offers lightweight cloud computing and AI solutions, optimizing costs and enhancing technical capabilities [5]

Group 1: Company Overview and Strategic Initiatives - Newcap Electronic Co., Ltd. integrates IoT and AI technologies for identity verification and payment solutions in educational and enterprise sectors, having implemented digital RMB projects in nearly 40 institutions [1] - The company has established long-term partnerships with major banks and telecom operators to enhance its payment platform and collection devices [2] Group 2: AI and Educational Technology Development - Newcap has developed an AI+Education framework, including a proprietary large model and a customizable intelligent assistant platform, aimed at improving educational outcomes [2] - The StarPro large model leverages a vast campus knowledge graph to enhance scene understanding and semantic recognition, providing comprehensive model services for educational institutions [2] Group 3: Financial Performance and Market Management - The company emphasizes cash dividends and market value management, maintaining a commitment to share operational success with investors [3] - In 2025, Newcap aims to improve operational quality and product standards while expanding sales channels and increasing revenue from channel sales [5] Group 4: Challenges and Future Outlook - The company faces seasonal revenue fluctuations, with significant income concentrated in the third and fourth quarters [5] - Newcap is actively pursuing AI project opportunities and expanding its market reach, having already provided AI tools to several universities [5]

Core Viewpoint - Newcap's 2024 annual report shows steady growth in revenue and profit, with a focus on expanding its presence in the smart campus and government enterprise sectors, leveraging technological advancements and policy support [1][2][3] Financial Performance - The company achieved operating revenue of 984 million yuan and a net profit attributable to shareholders of 110 million yuan, representing a year-on-year increase of 2.51% [1] - The net profit after deducting non-recurring gains and losses was 105 million yuan, up 3.97% year-on-year [1] - Operating cash flow net amount reached 272 million yuan, a significant increase of 126.64% year-on-year [1] - The company plans to distribute a cash dividend of 0.80 yuan per 10 shares (including tax) [1] Market Position and Expansion - Newcap holds over 40% market share in the domestic smart campus sector, serving more than 1,000 universities including Tsinghua University and Peking University [1] - The company has expanded its "Code Card Face" solution to nearly 40 new university clients, with nearly 50 upgrade projects for existing clients [1] - In the non-campus market, the company has leveraged its technology to expand into government and agricultural sectors, with smart government solutions accounting for 15.08% of revenue [2] R&D and Technological Advancements - In 2024, the company invested 186 million yuan in R&D, representing 18.89% of its operating revenue [2] - Newcap established an AI research institute in Shanghai and launched the "Xingpu Model" for the education sector, enhancing campus management efficiency [2] - The company reported significant growth in hardware sales, with over 160,000 smart water control devices shipped and nearly 60,000 IoT smart water meters supplied [2] Policy and Future Outlook - The release of the "Education Power Construction Plan" supports ongoing investment in educational information technology, providing a long-term growth avenue for the company's core business [3] - Newcap aims to increase investment in smart campus and government enterprise solutions while expanding into new business areas for sustainable growth [3]