Group 1 - Zhejiang University Netnew (SH 600797) announced on October 14 that as of October 13, 2025, its shareholder Zhejiang Netnew Group holds a total of 71.92 million shares, accounting for 7% of the company's total equity [1] - After the release of the pledged shares, Netnew Group has a total of 44.45 million pledged shares, which represents 61.8% of its holdings and 4.33% of the company's total equity [1] - As of the first half of 2025, the revenue composition of Zhejiang University Netnew is as follows: Smart Business 67.72%, Smart Life 16.7%, Smart City 11.53%, Smart Cloud Services 9.56%, and Other Businesses 1.63% [1] Group 2 - The current market capitalization of Zhejiang University Netnew is 10.9 billion yuan [1]

Core Viewpoint - Zhejiang University Netnew (SH 600797) announced significant external guarantees and revenue composition, indicating a strong reliance on its subsidiaries and a diversified business model [1] Group 1: External Guarantees - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to approximately 1.385 billion yuan, which represents 42.31% of the company's latest audited net assets [1] - The actual balance of external guarantees is about 777 million yuan, entirely for subsidiaries, accounting for 23.73% of the company's latest audited net assets [1] Group 2: Revenue Composition - For the first half of 2025, the revenue composition of Zhejiang University Netnew is as follows: - Smart Business: 67.72% - Smart Life: 16.7% - Smart City: 11.53% - Smart Cloud Services: 9.56% - Other Businesses: 1.63% [1] Group 3: Market Capitalization - As of the report, the market capitalization of Zhejiang University Netnew is 11.2 billion yuan [1]

Group 1 - The company Zhejiang University Netnew (SH 600797) held its 11th Board of Directors meeting on September 15, 2025, to review the proposal regarding the confirmation of the members of the 11th Board Audit Committee [1] - For the first half of 2025, the revenue composition of Zhejiang University Netnew is as follows: Smart Business 67.72%, Smart Life 16.7%, Smart City 11.53%, Smart Cloud Services 9.56%, and Other Businesses 1.63% [1] - As of the report date, the market capitalization of Zhejiang University Netnew is 11.2 billion yuan [1]

Revenue Composition - In 2024, the revenue composition of Zhejiang University Netnew includes: Smart Business accounting for 50.51%, Smart City for 18.26%, Smart Life for 15.16%, Smart Cloud Services for 14.81%, and Other Businesses for 1.27% [1] External Guarantees - As of the announcement date, the total external guarantees provided by Zhejiang University Netnew and its subsidiaries amount to approximately 1.423 billion yuan, which represents 43.47% of the company's most recent audited net assets [3] - The actual external guarantee balance is approximately 813 million yuan, accounting for 24.84% of the company's most recent audited net assets [3]