Core Insights - The "Zhilian China-ASEAN AI Win-Win Future" ecological forum successfully took place during the World Artificial Intelligence Conference, where Runjian Co. publicly launched its Quchi AI platform ecological strategy and operation model products, attracting over 200,000 online and offline attendees [1] - Runjian Co. has established itself as a leader in AI export, with its overseas business covering 10 countries and regions, having undertaken over 700 local projects in the ASEAN region and completed more than 20 data center or computing center projects [1] - The company has accumulated partnerships with hundreds of Chinese enterprises going abroad and ASEAN industry clients, contributing to the digital economy development in the ASEAN region [1][3] Business Development - Runjian Co. is enhancing its AI development strategy by focusing on B-end business empowerment through its self-developed "Quchi" generative AI industry model development platform, which aims to create competitive industry models and digital products [2] - The company has a robust data accumulation, with over 10 million communication network maintenance data points collected annually and extensive datasets across various sectors, including energy and digital networks [2] - The launch of the Quchi operation model 1.0 during the 2025 WAIC aims to advance maintenance models towards "predictive self-healing" through five key dimensions, enhancing the platform's attractiveness [2] Market Position and Partnerships - Runjian Co. operates across multiple application scenarios, including telecommunications, new energy, public safety, education, rural revitalization, and smart communities, with a digital product portfolio covering 12 product series and 65 application scenarios [3] - The company is actively expanding its large customer base for computing power services and has developed an integrated intelligent operation management platform [3] - The Wuxiang Cloud Valley Intelligent Computing Center is positioned as a core hub for China-ASEAN AI cooperation, providing essential support for enterprises venturing into the ASEAN market [3] Financial Projections - Revenue forecasts for Runjian Co. from 2025 to 2027 are projected at 10.25 billion, 11.92 billion, and 13.81 billion yuan, with corresponding growth rates of 11.43%, 16.26%, and 15.87% [4] - The net profit attributable to the parent company is expected to be 222 million, 461 million, and 728 million yuan, with year-on-year growth rates of -10.10%, +107.85%, and +58.01% [4] - The earnings per share (EPS) are projected at 0.78, 1.62, and 2.56 yuan, with corresponding price-to-earnings (PE) ratios of 58.24, 28.02, and 17.73 [4]

Core Viewpoint - Runjian Co., Ltd. has secured significant contracts in the telecommunications sector, enhancing its market position and revenue potential through strategic projects and technological advancements [1][2][3] Group 1: Contract Wins - On May 25, Runjian Co., Ltd. was announced as a candidate for a major contract with China Mobile Guangdong for construction services, valued at 374 million yuan (approximately 54 million USD) for the 2025-2026 period [1] - The company also won a total of 1.033 billion yuan (approximately 146 million USD) in contracts for various projects, including a major procurement project covering 15 provinces [2] - Cumulatively, the company has secured contracts exceeding 1.3 billion yuan (approximately 184 million USD) across multiple projects, solidifying its role in the telecommunications network business [2] Group 2: Business Performance - The telecommunications network business is a cornerstone for Runjian Co., accounting for 49.7% of revenue in 2024 [2] - The company has achieved the highest market share in the China Mobile network maintenance service procurement project, leading in both the number of provinces and contract amounts [2] - Runjian's revenue from its computing infrastructure segment reached 529 million yuan (approximately 75 million USD) in 2024, marking a 71.7% year-on-year increase, contributing significantly to overall growth [2] Group 3: International Expansion - Runjian is accelerating its overseas expansion, with international revenue reaching 96.91 million yuan (approximately 14 million USD) in 2024, a 78.5% increase year-on-year [3] - The company is focusing on the ASEAN market, executing over 700 local projects and completing more than 20 data center or computing center projects in countries like the Philippines, Vietnam, and Indonesia [3] Group 4: Research and Development - In 2024, Runjian's R&D expenditure reached 333 million yuan (approximately 47 million USD), reflecting a 17.68% increase [3] - The company has established six major R&D bases and 15 R&D centers globally, with over 27% of its workforce dedicated to research and development [3] - Runjian holds more than 800 intellectual property rights, including patents and software copyrights, and has developed a generative AI industry model development platform for various sectors [3]

Core Viewpoint - The company, Runjian Co., Ltd., aims to enhance its position as a leading provider of digital intelligent operation and maintenance services, focusing on AI-driven solutions across various sectors, including communication, digital networks, and energy networks. The company reported a revenue of 9.199 billion yuan and a net profit of 247 million yuan for the year 2024, with a strategic emphasis on AI model applications and international market expansion, particularly in ASEAN countries [27][28]. Company Overview - Runjian Co., Ltd. is recognized as a leading digital intelligent operation and maintenance service provider in China, focusing on AI industry models and computing power services [4]. - The company operates under a business model that integrates online digital platforms with offline technical services, enhancing its technological applications [4]. Business Segments Computing Power Services - The company has established a comprehensive computing power service model, providing lifecycle management for data centers and enhancing operational efficiency [5]. - A significant investment of 1.09 billion yuan has been allocated for the construction of the Wuxiang Cloud Valley Intelligent Computing Center, which will serve as a benchmark AI industrial park [5][6]. Data Services - Runjian has accumulated vast amounts of proprietary sample data over 20 years, which supports the development of AI industry models [6]. - The company offers integrated AI model and data services, including data governance and algorithm toolkits [6]. Platform Services - The "Quchi" platform enables multi-modal industry model development, facilitating the rapid construction of AI applications across various sectors [7]. - The platform includes features for dataset management, algorithm supermarkets, and lifecycle support for large models [8][10][11]. Communication Network Business - The company is a major player in the communication network maintenance sector, providing comprehensive lifecycle services for telecom infrastructure [14]. - AI-driven solutions are being implemented to enhance operational efficiency and data management capabilities [14]. Digital Network Business - Runjian focuses on providing digital solutions that align with national strategies, including smart parks and educational digitalization [15][17]. - The company is actively involved in developing smart city solutions and enhancing community management through advanced technologies [16]. Energy Network Business - The company integrates modern technologies into energy network management, offering comprehensive services across the energy supply chain [19]. - Runjian has developed a virtual power plant business model that aggregates distributed energy resources for market participation [21]. International Business - Since 2019, Runjian has expanded its operations into ASEAN countries, leveraging its expertise in telecommunications and digital services [23]. - The company has successfully implemented numerous large-scale data center projects in Southeast Asia, establishing a strong market presence [23][24]. Financial Performance - For the year 2024, the company reported a total revenue of 9.199 billion yuan and a net profit of 247 million yuan, with a focus on maintaining industry leadership [27][28]. - The company plans to distribute a cash dividend of 1.30 yuan per share, amounting to approximately 36.93 million yuan, which represents 14.98% of the net profit [37][38].