Core Viewpoint - The strategic cooperation agreement between Zhishu Technology Group and Putian Rail Transit Technology (Shanghai) Co., Ltd. aims to enhance both companies' capabilities in the artificial intelligence sector, particularly in rail transit and airport industries, thereby expanding revenue bases and improving shareholder returns [1]. Company Summary - Zhishu Technology Group has entered into a strategic cooperation agreement with Putian Rail Transit, which specializes in areas such as rail transit weak current general contracting, communication system integration, automatic ticketing systems, smart airports, and smart tourism [1]. - The board believes that expanding into the artificial intelligence sector will establish the company's core competitiveness [1]. - The partnership is expected to foster long-term and stable collaboration, focusing on AI services, smart security checks, intelligent operation systems, and smart stations [1]. Industry Summary - Putian Rail Transit is recognized as a key player in the rail transit sector, being a council member of the China Urban Rail Association and a vice-chairman unit of the automatic ticketing system committee [1]. - The company is involved in the development of national and industry standards for AFC systems and is classified as a specialized and innovative enterprise in Shanghai [1]. - The collaboration is anticipated to drive advancements in AI technologies within the rail transit and airport industries, enhancing operational efficiencies and service quality [1].

董事会认为，集团积极在人工智能领域拓展业务，建立公司核心竞争力，而普天轨道的业务围绕轨道交 通、机场等两大行业，持续在AI服务机器人、无感智慧安检、智能运维系统、智慧车站等新技术上投 入研发。订立战略合作协议使集团及普天轨道令双方建立长期、稳定的战略合作伙伴关系，推动双方在 轨道交通等人工智能领域的合作与发展。董事会相信，战略合作协议将扩阔集团日后的收益基础，并预 期将会提高股东的投资回报。 普天轨道是一家于中华人民共和国成立的有限公司，主要业务包括轨道交通弱电总包、通信系统集成、 自动售检票系统、智慧机场、智慧文旅等领域，是中国城轨协会理事单位、自动售检票系统专委会副理 事长单位，是交通领域AFC系统国家和行业标准主要参编单位，是上海市专精特新企业。 格隆汇11月17日丨智数科技集团(01159.HK)宣布，于2025年11月17日，公司与普天轨道交通技术(上海) 有限公司("普天轨道")订立战略合作协议。 ...

Core Viewpoint - The announcement highlights a strategic cooperation agreement between Zhishu Technology Group and Putian Rail Transit Technology (Shanghai) Co., Ltd, aimed at enhancing collaboration in the fields of artificial intelligence and rail transit [1] Group 1: Strategic Cooperation - The strategic cooperation agreement was signed on November 17, 2025, establishing a long-term partnership between the two companies [1] - Putian Rail Transit specializes in areas such as rail transit weak current general contracting, communication system integration, automatic ticketing systems, smart airports, and smart tourism [1] - The partnership is expected to expand the revenue base of Zhishu Technology Group and improve shareholder returns [1] Group 2: Industry Focus - The collaboration will focus on the development of new technologies in AI service robots, contactless smart security checks, intelligent operation systems, and smart stations [1] - Both companies aim to leverage their strengths in the rail transit and airport sectors to drive innovation and growth in artificial intelligence applications [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 自願公告 業務最新進展 本公告乃由智數科技集團有限公司（「本公司」）自願發佈，以向本公司股東 （「股東」）及本公司潛在投資者提供有關本公司及其附屬公司（「本集團」）的業 務最新進展。 業務最新進展－戰略合作協議 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年十一月十七日（交 易時段後），本公司與普天軌道交通技術（上海）有限公司（「普天軌道」）訂立戰 略合作協議（「戰略合作協議」）。 普天軌道的背景 普天軌道是一家於中華人民共和國成立的有限公司，主要業務包括軌道交通 弱電總包、通信系統集成、自動售檢票系統、智慧機場、智慧文旅等領域，是 中國城軌協會理事單位、自動售檢票系統專委會副理事長單位，是交通領域 AFC系統國家和行業標準主要參編單位，是上海市專精特新企業。 1 訂立戰略合作協議的理由及裨益 董事會認為，本集團積極在人工智能領域拓展業務，建立公司核心競爭力，而 普天軌道的業務圍繞軌道交 ...

Group 1 - The core viewpoint is that the rail transit industry is expected to enter a new growth cycle during the "14th Five-Year Plan" period, transitioning from "scale expansion" to "quality and efficiency" and from "domestic dominance" to "global leadership" [1] - The company anticipates benefiting from the planning and development of urban rail transit, with sufficient orders on hand and a commitment to R&D innovation, leading to a broad future development outlook [1][2] - The company plans to increase investments in R&D, production, and internal control management to solidify a robust business operation system and utilize raised funds to expand production capacity for stable future development [1] Group 2 - The company will focus on several aspects for its business development plan, including research system construction, product system optimization, production capacity enhancement, market expansion, and management system improvement [2] - The company aims to concentrate on the rail transit industry, enhancing its product lines in signal axle counting systems, lightning protection systems, and snow melting systems, while also innovating and upgrading product technology to increase market share [2] - The company will explore new marketing models, intensify market expansion efforts, and establish a nationwide marketing network while continuously expanding overseas markets to achieve coordinated domestic and international development [2]

Group 1 - The Japan International Smart Energy Week, the largest and most influential renewable energy exhibition in Asia, will take place from March 17 to 19, 2026, at the Tokyo Big Sight, attracting over 1,600 exhibitors and 70,000 professional visitors [2] - The exhibition will focus on cutting-edge areas such as photovoltaics, hydrogen energy, energy storage, and smart grids, serving as a crucial platform for companies to expand into the Japanese and Asian markets [2][3] - The PV EXPO section will showcase breakthroughs in photovoltaic technology, including high-efficiency solar cell modules and BIPV innovations, driven by Japan's policy mandating solar panel installation in new residential buildings [3] Group 2 - The Hydrogen and Fuel Cell Expo will highlight Japan's leading position in the hydrogen industry, featuring technologies across the entire hydrogen production, storage, and application chain, with major companies like Mitsubishi and Toyota expected to present next-generation fuel cell vehicles [5] - The BATTERY JAPAN section will present the competitive landscape of next-generation battery technologies, focusing on sodium-ion batteries, solid-state batteries, and supercapacitors, with major players like Panasonic and LG Chem likely to unveil high energy density products [5] - The newly added "Green Transformation Week" segment will emphasize decarbonization and the circular economy, reflecting a shift in the global energy sector towards systematic carbon reduction [7] Group 3 - The exhibition will feature 200 industry forums discussing the challenges and opportunities in the hydrogen economy, attracting policymakers and industry leaders [5] - The event will provide a key entry point for Chinese companies into the Japanese market, with support services for intellectual property guidance and subsidy applications to lower participation barriers [7]

Core Viewpoint - 大连重工 is expected to achieve a net profit of 305 million to 326 million yuan in the first half of the year, representing a year-on-year growth of 11.12% to 18.92%, primarily driven by an increase in revenue and improved gross margins in material handling equipment [2][4]. Financial Performance - The company anticipates a revenue growth of approximately 6% year-on-year, contributing to the overall net profit increase [2][4]. - In 2024, the company achieved a revenue of 14.281 billion yuan, a year-on-year increase of 18.97%, and a net profit of 498 million yuan, up 37.12% [3]. - For the first quarter of 2025, the company reported a revenue of 3.507 billion yuan, a 10.02% increase year-on-year, and a net profit of 179 million yuan, reflecting a 25.85% growth [3]. Product Development and Innovation - The company focuses on high-end equipment manufacturing, with significant investments in R&D projected to total 3.546 billion yuan from 2020 to 2024 [2][5]. - The material handling equipment segment has seen a gross margin increase, with a notable project involving a self-developed dual-direction continuous unloader that has been recognized in the international market [4]. - The company has successfully delivered the world's largest 610-ton butterfly steel ladle turntable and holds over 80% market share in the 400-ton and above casting crane market [4]. Strategic Initiatives - 大连重工 is enhancing its high-end production capacity in deep-sea equipment, renewable energy devices, and intelligent operation systems [5]. - The company has delivered the world's first 20,000-ton multi-point bridge crane for ultra-large offshore drilling platforms, reducing construction time by 30% [5]. - The company has established a remote operation and maintenance platform based on digital twin technology, significantly reducing equipment failure rates and operational costs [5]. International Expansion - Since initiating its international strategy in 2010, the company has expanded its business to cover multiple countries and regions, achieving a 35% year-on-year increase in export orders to 677 million USD [6]. - The overseas sales revenue grew by 175.37% in 2024, reaching 2.293 billion yuan, accounting for 16.06% of total revenue, with a gross margin of 28.24% [6].

Core Insights - Anhui Rongzhi Rixin Technology Co., Ltd. reported a revenue of 584 million yuan for 2024, representing a year-on-year growth of 17.21%, and a net profit attributable to shareholders of 108 million yuan, up 71.49% year-on-year [1] - In Q4 of the previous year, the company achieved a record high revenue of 241 million yuan and a net profit of 105 million yuan [1] - The demand for intelligent equipment management is surging as industries accelerate digital and intelligent transformation, positioning Rongzhi Rixin favorably in the market [1] Financial Performance - The company's R&D expenses amounted to 107 million yuan, accounting for 18.36% of total revenue [1] - The company plans to distribute a cash dividend of 4.30 yuan per 10 shares (including tax), totaling 37.59 million yuan, which represents 34.96% of the net profit attributable to shareholders for 2024 [2] Industry Context - The company has connected over 180,000 critical devices for remote monitoring, accumulating over 30,000 equipment failure case data, which supports the development of its AI algorithms [2] - The advanced intelligent operation and maintenance system allows for real-time monitoring and predictive maintenance, significantly reducing equipment failure rates [2] - The market for intelligent operation and maintenance of industrial equipment is expected to grow substantially as technology advances and national initiatives promote industrial digitalization [2]