Core Viewpoint - Hongjing Technology (301396.SZ) plans to raise up to 1.354 billion yuan through a private placement of A-shares, with the funds primarily allocated to enhance its computing power business and support working capital [1] Group 1: Fundraising and Allocation - The total amount to be raised is not more than 1.354 billion yuan, which includes 1.054 billion yuan for the construction and operation of intelligent computing power clusters and 300 million yuan for supplementing working capital [1] - The net proceeds from the fundraising will be fully utilized for the specified projects after deducting issuance costs [1] Group 2: Business Strategy and Market Position - The company leverages its extensive experience in data center construction, expert talent team, and supply chain integration to capitalize on opportunities in the artificial intelligence sector [1] - The computing power business has become the strategic focus for the company's future development, aiming to meet the growing market demand and enhance core competitiveness [1] - The company intends to increase investment in computing power services to empower clients in various business scenarios, including large model training, inference, and scientific computing [1]

宏景科技（301396）(301396.SZ)披露2025年度向特定对象发行A股股票预案，本次募集资金总额不超过 13.54亿元(含)，募集资金扣除发行费用后，净额拟全部用于以下项目：10.54亿元用于智能算力集群建 设及运营项目，3亿元用于补充流动资金。 据悉，公司凭借多年数据中心的建设经验、能力、专家人才团队和供应链整合能力，积极布局，把握人 工智能发展契机，深入人工智能产业、以算力赋能场景，通过向客户提供智能算力服务，全方位赋能客 户在大模型训练、推理、科学计算等不同业务场景的各类需求。目前，算力业务已成为公司未来业务发 展的战略重心。公司拟通过本次发行进一步加大对算力业务方面的投入和布局，以满足不断增长的市场 需求，增强公司核心竞争力，为公司经营业绩的持续增长注入动力。 ...

Core Viewpoint - The company plans to raise funds through a private placement of shares to enhance its capital strength and profitability, responding to the growing opportunities in the artificial intelligence (AI) industry supported by national policies [1][5]. Group 1: Background and Purpose of the Issuance - The issuance is driven by strong government support for the AI industry, emphasizing the integration of digital technology with the real economy, which is expected to expand the market size significantly [1][2]. - The demand for computing power infrastructure is projected to grow exponentially as the AI industry enters a rapid growth phase, with China's intelligent computing power expected to reach 1,037.3 EFLOPS by 2025 [2]. - The company aims to leverage its experience in data center construction and its expert talent team to enhance its core competitiveness in the AI sector [5]. Group 2: Strategic Development and Financial Strengthening - The company is committed to high-quality development by investing in AI, big data, and intelligent computing technologies, aiming to build a multi-dimensional business model [4]. - The funds raised will enhance the company's financial strength, improve its risk resistance, and support its strategic layout, ultimately leading to an upgrade in business segments and increased profitability [6]. - The issuance will optimize the capital structure, reduce the debt ratio, and enhance shareholder returns, aligning with the capital market's support for technology enterprises [6][4]. Group 3: Issuance Details and Compliance - The company plans to issue shares to no more than 35 specific investors, complying with relevant regulations and ensuring that the selection process is appropriate [8][9]. - The issuance price will be set at no less than 80% of the average trading price over the previous 20 trading days, ensuring a fair valuation [10][16]. - The issuance process has been approved by the board and will undergo further scrutiny by the shareholders and regulatory bodies, ensuring compliance with legal requirements [22][12].

关于本次向特定对象发行股票摊薄即期回报的 影响分析及填补措施和相关主体承诺的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 证券代码：301396 证券简称：宏景科技 公告编号：2025-069 宏景科技股份有限公司 （一）测算假设及前提条件 以下假设仅为测算本次向特定对象发行股票摊薄即期回报对公司主要财务 指标的影响，不代表对公司 2025 年度和 2026 年度经营情况及趋势的判断，亦不 构成盈利预测。投资者据此进行投资决策造成损失的，公司不承担赔偿责任。 境等方面没有发生重大不利变化； 股本 153,517,547 股为基础，仅考虑本次向特定对象发行股票的影响，未考虑其 他因素（如未来资本公积转增股本、股票股利分配、股份回购注销）导致公司总 股本发生的变化。 根据《国务院办公厅关于进一步加强资本市场中小投资者合法权益保护工作 的意见》（国办发〔2013〕110 号）、《关于加强监管防范风险推动资本市场高 质量发展的若干意见》（国发〔2024〕10 号）以及中国证监会发布的《关于首 发及再融资、重大资产重组摊薄即期回报有关事项的指导意见》（证监会公告 ...

Core Viewpoint - The company plans to raise a total of RMB 1,353.70 million through a targeted issuance of A-shares, with the net proceeds intended for investment in key projects, particularly in the artificial intelligence and computing power infrastructure sectors [1][5][18]. Group 1: Fundraising and Investment Plans - The total amount to be raised is RMB 1,353.70 million, which will be allocated to various projects after deducting issuance costs [1]. - The company will adjust the specific use of funds based on the importance and urgency of the projects if the actual raised amount is less than planned [1]. - A portion of the funds, RMB 300 million, will be used to supplement working capital to support the company's expanding operations [16][17]. Group 2: Industry Background and Market Trends - The government is strongly supporting the development of the artificial intelligence industry, emphasizing the integration of digital technology with the real economy [1][2]. - The demand for computing power infrastructure is expected to grow exponentially as the AI industry enters a rapid growth phase, with the scale of intelligent computing power in China projected to reach 1,037.3 EFLOPS by 2025 [2][6]. - The intelligent computing service market is also anticipated to grow significantly, with a projected compound annual growth rate of 57.3% from 2023 to 2028 [7]. Group 3: Company Strategy and Development - The company is aligning its strategy with national policies on digital economy and AI, focusing on high-quality development and the creation of new productive forces [4][16]. - The company aims to enhance its core competitiveness by improving personnel quality, introducing external talent, and increasing management efficiency [16]. - The company has a solid foundation in IT and computing equipment implementation, with extensive experience in project execution and operation [14][15]. Group 4: Project Details and Implementation - The main project involves the construction and operation of an intelligent computing cluster, which includes purchasing high-performance computing servers [5][12]. - The project is expected to significantly enhance the company's computing power capabilities, providing robust intelligent computing services to clients [5][12]. - The company has already secured substantial contracts in its computing power business, with revenues showing significant growth [13].

Core Viewpoint - GloryView Technology Co., Ltd. plans to issue A-shares to specific investors in 2025 to enhance its capital strength and support its core business in artificial intelligence and computing power infrastructure [1][13][17]. Group 1: Issuance Details - The company intends to raise a total of up to RMB 135,369.88 million through this issuance, with the net proceeds aimed at funding specific projects related to computing power [22][27]. - The issuance will be limited to no more than 35 specific investors, including qualified domestic and foreign institutional investors [18][19]. - The final issuance price will be determined based on the average trading price of the company's shares over the 20 trading days prior to the pricing date, with a minimum price set at 80% of this average [2][20]. Group 2: Purpose and Background - The issuance is aligned with national strategies promoting digital economy and artificial intelligence, aiming to enhance the company's capabilities in providing intelligent computing services [13][15][16]. - The demand for computing power is expected to grow exponentially due to the rapid development of AI technologies and large-scale models, necessitating significant investment in computing infrastructure [14][29]. - The company aims to leverage its experience in data center construction and operation to capture opportunities in the expanding AI market [16][29]. Group 3: Use of Proceeds - The raised funds will primarily be allocated to the construction and operation of intelligent computing clusters, enhancing the company's service offerings in AI and data processing [28][30]. - The company plans to invest in high-performance computing servers to provide efficient intelligent computing services to clients, thereby expanding its computing power business [28][29]. - The investment in computing power infrastructure is expected to significantly improve the company's competitive position in the market [30].

公司办公地址的邮政编码 200120 公司网址 www.encdata.cn 新智认知数字科技股份有限公司 2025 年半年度报告 电子信箱 Encdigital@enn.cn 报告期内变更情况查询索引 — 四、 信息披露及备置地点变更情况简介 公司选定的信息披露报纸名称 《上海证券报》《中国证券报》《证券日报》 登载半年度报告的网站地址 上海证券交易所（www.sse.com.cn） 公司半年度报告备置地点 上海市浦东新区金海路2011号新奥广场 报告期内变更情况查询索引 — 五、 公司股票简况 股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称 A股 上海证券交易所 ST智知 603869 北部湾旅 六、 其他有关资料 □适用 √不适用 七、 公司主要会计数据和财务指标 (一) 主要会计数据 单位：元 币种：人民币 本报告期 本报告期比上年 主要会计数据 上年同期 （1－6月） 同期增减(%) 营业收入 276,688,743.02 301,818,505.00 -8.33 利润总额 30,353,946.49 12,393,601.22 144.92 归属于上市公司股东的净利润 16,912, ...

Core Viewpoint - ST Zhizhi reported a net profit of 16.91 million yuan for the first half of 2025, focusing on the acceleration of smart technology integration and leveraging policy opportunities for business transformation [1] Group 1: Business Development - The company is deepening its urban safety scenario by enhancing its "Safety Professional Capability Platform" and expanding its business from gas safety to other urban lifeline scenarios, supported by favorable policies [2] - The company received two industry awards for its smart products, validating its technological leadership and application value in AI scenario-based applications [2] Group 2: Digital Transformation - The company is optimizing its business layout based on the integrated demand for "intelligence + models + computing power," accelerating the development of intelligent computing power services and expanding into educational sectors [3] - By leveraging its industrial ecosystem, the company aims to drive sustainable high-quality development in urban safety and industrial intelligence sectors [3]

Market Overview - The A-share market continues to rise, driven by growth sectors, with a healthier rotation structure observed[4] - The market is supported by three pillars: fundamentals, liquidity, and policies, with a focus on the strength of incremental capital and market profitability feedback[4] High-end Manufacturing - The global AI boom is driving rapid growth in the computing power industry, with an expected compound annual growth rate of 46.2% from 2023 to 2028[4] - The smart computing service market is projected to exceed $26.69 billion by 2028, with strong growth in integrated smart computing services and GenAI IaaS[4] Consumer Sector - In July 2025, the total retail sales of consumer goods reached 3.88 trillion yuan, with a year-on-year growth rate of 3.70%, down from 4.80% in June[34] - The July retail sales growth rate for goods was 4.00%, showing a decline of 1.30% month-on-month, while dining revenue growth was at 1.10%[40] Risks and Challenges - Risks include macroeconomic fluctuations, market competition, and potential underperformance in product innovation[4] - The impact of U.S. tariff policies on supply chains and demand remains uncertain for the second half of the year[4]

Core Insights - The global cloud computing market is projected to reach nearly $2 trillion by 2030, driven by the increasing demand for AI integration and services [2][3] - China's cloud computing market is expected to grow to 828.8 billion yuan in 2024, reflecting a year-on-year increase of 34.4% [3] - The rapid growth of AI technologies is transforming cloud computing services, shifting from traditional models to AI-driven solutions [6][7] Global Market Overview - The global cloud computing market is forecasted to reach $692.9 billion in 2024, with a year-on-year growth rate of 20.3% [2] - The demand for IaaS, PaaS, and SaaS is increasing, particularly due to AI model training and application services [2][3] China's Cloud Computing Landscape - China's cloud computing market is experiencing significant growth, with a projected market size of 828.8 billion yuan in 2024 [3] - The public cloud market is expected to reach 621.6 billion yuan, growing by 36.6%, while the private cloud market is anticipated to reach 207.2 billion yuan, growing by 29.3% [3][5] - The integration of technologies like quantum computing and blockchain with cloud computing is expected to expand market boundaries [3] Market Dynamics and Competition - The IaaS market in China is projected to reach 420.1 billion yuan in 2024, with intelligent computing services being the primary growth driver [5] - Major players in the public cloud IaaS market include Alibaba Cloud, Tianyi Cloud, Mobile Cloud, Huawei Cloud, and Tencent Cloud, while the PaaS market is led by Alibaba Cloud, Baidu Cloud, Huawei Cloud, Tencent Cloud, Tianyi Cloud, and Mobile Cloud [5] Challenges and Data Security - The surge in data volume due to AI development poses significant challenges for cloud computing, necessitating a shift towards model-as-a-service delivery [6][9] - Data security is critical for the stable operation of AI cloud services, with increasing data interactions leading to complex security challenges [9][10] - The emergence of low-quality data can adversely affect AI model performance, highlighting the need for robust data management and security measures [9][10]