Core Viewpoint - The company, Jin Modern, is undergoing a strategic transformation to diversify its business model by developing standardized software products alongside its traditional customized software services, aiming for sustainable growth in various industries beyond the energy sector [1][3][4]. Group 1: Company Overview - Jin Modern has over 20 years of experience providing customized software development for major state-owned enterprises in the energy sector, establishing long-term partnerships with leading companies like State Grid and Southern Power Grid [3][4]. - The company has a research and development team of approximately 500 people, focusing on low-code development platforms and artificial intelligence technologies to enhance efficiency and innovation [2][7]. Group 2: Strategic Transformation - The "dual-wheel drive" strategy aims to develop standardized software products, which currently account for about 22% of the company's revenue, with a year-on-year growth of approximately 30% [1][6]. - The company has successfully developed competitive standardized software products, including the Light Cavalry low-code development platform and various management systems, and has secured orders from leading enterprises in manufacturing and aerospace [4][5]. Group 3: Business Model and Revenue - In 2024, the company's revenue from customized software development and services is expected to account for about 78%, while standardized software products will contribute around 22% [6]. - The standardized software products have a significantly higher gross margin compared to customized services, and their shorter project implementation and payment cycles are expected to drive long-term stable growth [6]. Group 4: Competitive Advantages - The company's low-code technology platform enhances software development efficiency, reduces costs, and lowers the dependency on skilled developers, creating a competitive edge in the market [5][7]. - The company has implemented a comprehensive project management system to achieve low-cost delivery, which is crucial for scaling its operations [9].

Group 1: Company Overview and Strategy - The company has over 20 years of experience in providing customized software development for the energy sector, establishing long-term partnerships with major players like State Grid and Southern Power Grid, which enhances its risk resilience [3][5]. - The "dual-drive" strategy aims to diversify business by developing standardized software products alongside customized solutions, reducing reliance on a single market for growth [3][4]. - The company is expanding from the energy sector into manufacturing and aerospace industries, leveraging standardized software products to tap into larger markets [4]. Group 2: Progress and Achievements - The company has successfully developed competitive standardized software products, including a low-code development platform and various management systems, which have gained traction in non-energy sectors [4]. - In 2024, customized software development and services accounted for approximately 78% of revenue, while standardized software products made up about 22%, with the latter seeing a year-on-year sales growth of around 30% [8][9]. Group 3: Competitive Advantages - The company possesses extensive digitalization experience from serving large enterprises, which has cultivated a skilled R&D team and a robust management system [5][6]. - The proprietary low-code platform significantly enhances software development efficiency, reducing costs and development time compared to competitors [6][11]. - The integration of AI technologies into core products is driving innovation and providing smarter solutions for clients [6][10]. Group 4: Sales and Delivery Model - The company has established a multi-dimensional sales model centered on direct sales and agent partnerships, supported by a marketing center that optimizes sales strategies [7]. - A nationwide sales network has been formed with 16 regional centers to enhance market penetration [7]. - The company has developed a low-cost delivery capability through comprehensive project management processes, which helps improve project profitability [7][12].

Core Insights - The report emphasizes the importance of proactive discovery in the financial market rather than merely relaying information [1] Domestic Financial Market - The Shanghai Composite Index closed at 3402.66, with a slight increase of 0.01% [3] - The Shenzhen Component Index closed at 10234.33, showing a decrease of 0.11% [3] - The ChiNext Index closed at 2067.15, reflecting an increase of 0.26% [3] - The Hang Seng Futures Index closed at 31013.11, with a decline of 1.2% [3] Macro News Summary - The central bank and foreign exchange bureau are increasing financial support for cross-strait integration development [5] - The Ministry of Industry and Information Technology supports automotive companies in adhering to a payment term of no more than 60 days [5] - The National Development and Reform Commission emphasizes the coordination of economic reforms with education, technology, and talent [5] Industry Latest Developments - A solid-state battery conference is scheduled for next week, indicating the industry is on the verge of mass production, with related stocks including Honggong Technology and Guoxuan High-Tech [6] - The biomanufacturing sector is receiving policy support for the establishment of pilot platforms, with related stocks including Huaxi Biological and Chuaning Biological [6] - The stablecoin market is experiencing rapid growth, with increasing activity in cross-border payment applications, related stocks include Newland and Dongxin Peace [6] Company Focus - Xidian Co., Ltd. is the first domestic company to achieve industrial application of 12-inch wafer probe stations [7] - Antarctic Light is currently the only LCD backlight module supplier certified by Nintendo, maintaining a stable position in the Switch 2 backlight module supply [7] - Jin Modern has adapted its low-code development platform to the DeepSeek large model [7] - Lanshi Heavy Industry's wholly-owned subsidiary plans to acquire 100% equity of Qingdao Equipment for 99.9821 million yuan, enhancing its nuclear equipment manufacturing capabilities [7] Market Review and Outlook - On June 12, the market opened slightly lower and exhibited a fluctuating pattern, with the Shanghai Composite Index briefly falling below 3400 points before recovering [8] - The total trading volume in the Shanghai and Shenzhen markets reached 1.27 trillion yuan, an increase of 16.3 billion yuan from the previous trading day [8] - Sectors with notable gains included precious metals, beauty care, jewelry, diversified finance, and cultural media, while shipping ports, liquor, electronic chemicals, and coal sectors faced declines [8] - The report indicates a cautious outlook for the market, with a potential for further consolidation, while maintaining a bullish medium-term perspective [8]

Group 1: Financial Performance - In 2024, the company's revenue from customized software development and services accounted for approximately 78%, while standardized software product development and sales represented about 22% [2] - The sales revenue from standardized software products experienced a year-on-year growth of approximately 30% [2] - The gross margin of standardized software products is significantly higher than that of customized services, contributing to the company's long-term stable development [3] Group 2: Product Development and AI Integration - The company focuses on AI research directions including large language models (LLM), natural language processing (NLP), knowledge graphs (KG), and image recognition (CV) [4] - The company has launched various AI-related products and solutions, such as intelligent Q&A and report generation, with numerous successful application cases [4] - The "Light Cavalry" low-code development platform has been adapted to the DeepSeek large model, enhancing its capabilities for enterprise digital transformation [5][6] Group 3: Laboratory Management System - The smart laboratory management platform is designed for comprehensive management of experiments and testing processes, significantly improving efficiency and standardization [7] - The platform incorporates AI technologies to automate data collection and report generation, reducing manual workload and errors [8] - The product has been widely applied across various industries, including energy, electronics, pharmaceuticals, and food [9] Group 4: Future Development Strategy - The company will continue to pursue a "dual-wheel drive" development strategy, focusing on both customized digital solutions and standardized software products [10] - There will be sustained investment in technology innovation, particularly in AI and standardized software, to enhance core products and achieve sustainable high-quality development [10] Group 5: Convertible Bonds - The company's convertible bonds have a conversion period ending on November 26, 2029, with no current intention to adjust the conversion price [10] - The company aims to promote the completion of bond conversions based on market conditions and stock performance [10]

Group 1: Profit Distribution and Financial Performance - The profit distribution plan for 2024 proposes a cash dividend of 0.24 CNY per 10 shares, totaling 10,323,019.61 CNY, based on a total share capital of 430,125,817 shares [2] - Since its listing, the company has maintained annual cash dividends, with a cumulative total of 63.77 million CNY from 2020 to 2023 [2] - As of May 9, 2025, the number of shareholders is 31,409 [4] Group 2: Product Development and Sales - The company is continuously updating its main products and encourages investors to follow its official channels for news [3] - The Smart Laboratory Management Platform is designed for comprehensive management in testing and research labs, enhancing efficiency and standardization [3] - The company has established a sales network across over 20 provinces, with applications in various industries including energy, electronics, pharmaceuticals, and food [3] Group 3: Standardization and Competitive Products - The company has developed a series of standardized software products, including low-code development platforms and intelligent document processing systems [4] - The integration of AI and low-code technologies has led to the launch of competitive business products, strengthening the product matrix for long-term development [4] Group 4: Performance Challenges and Strategic Adjustments - The decline in performance is attributed to a strategic adjustment phase, where low-end businesses are being phased out and personnel optimization is underway [4] - Despite the overall revenue decline, the standardized product business has seen a year-on-year sales increase of 30.19% [4]

Group 1 - DeepSeek's new model, DeepSeek R2, is expected to launch in early May and will reduce costs by 97% compared to GPT-4, utilizing Ascend cards for training [1] - DeepSeek R2 will feature a hybrid expert model (MoE) with a total parameter count of 1.2 trillion, doubling the parameters of DeepSeek R1, which had 671 billion [1] - The model aims to achieve breakthroughs in programming capabilities, multilingual reasoning, and higher accuracy at lower costs [1] Group 2 - Jin Modern is actively expanding its standardized, general-purpose software product business centered around an "AI low-code" development platform, having developed several standardized platform software products [2] - Haoyun Technology continues to invest in low-code technology research and development, with its low-code platform "Haoyida" deeply integrated with AI and IoT to customize AI agents for enterprises [2]

Core Insights - The company reported a revenue of 440 million yuan and a net cash flow of 62.12 million yuan, marking a 309.19% increase year-on-year [1] - The company is focusing on the integration of AI technology with vertical industries, particularly in the power sector, to create customized solutions [1][2] - The company is actively developing standardized software products centered around an "AI low-code" development platform, enhancing its product offerings [4][6] Group 1: Financial Performance - The company achieved a revenue of 440 million yuan during the reporting period [1] - The net cash flow increased by 309.19% year-on-year, reaching 62.12 million yuan [1] Group 2: AI and Digital Transformation - The company is leveraging AI technologies such as large language models, image recognition, and natural language processing to enhance its service offerings [2] - Significant advancements have been made in applying AI capabilities in power sector business scenarios, improving operational efficiency and service quality [2] Group 3: New Energy and Domestic Innovation - The company is developing a series of management software for the new energy sector, including systems for wind farm production management and safety management [3] - The company is committed to supporting domestic innovation strategies, focusing on the development of self-controlled software systems compatible with domestic hardware [3] Group 4: Standardized Software Development - The company has developed several standardized software products, including low-code development platforms and intelligent document processing platforms [4] - The "Light Cavalry" low-code development platform has received authoritative recognition for its capabilities and quality [5] Group 5: Future Strategy - The company plans to continue its "dual-wheel drive" strategy, expanding its market reach to include a broader range of enterprises beyond state-owned enterprises [6] - The focus will remain on technological innovation as the primary driver for sustainable development, utilizing AI advancements to enhance core products [6]

Core Viewpoint - The company is a national high-tech enterprise focusing on providing customized digital solutions and standardized software products, leveraging advanced technologies like AI to enhance its offerings and expand its market reach. Company Overview - The company is recognized as a national high-tech enterprise and a key player in the national torch program for software industry [6] - Its main business segments include customized industry digital solutions and standardized software products, particularly in the power and aerospace sectors [6][7] Customized Industry Solutions - The company has over 20 years of experience in the power industry, establishing strong partnerships with major players like State Grid and Southern Power Grid [7] - It integrates advanced technologies such as AI into traditional information solutions, creating new growth opportunities [8] Standardized Software Products - The company is implementing a "dual-wheel drive" strategy to expand its service offerings from central enterprises to local state-owned and private enterprises [9] - The sales of standardized software products reached 96.27 million, a year-on-year increase of 30.19% [10] AI Integration and Innovation - The company is actively researching and applying AI technologies, including large language models and image recognition, to enhance its service offerings [13] - Successful applications of AI have improved operational efficiency in various business scenarios, such as emergency management in the power sector [14] New Energy Digital Solutions - The company has developed management software for new energy sectors, including wind power management systems, supporting the "dual carbon" strategy [15] Domestic Replacement and System Construction - The company is involved in the domestic replacement initiative, focusing on building and upgrading systems based on domestic servers and software [16] Sales and Marketing Strategy - The company has established a multi-dimensional sales model, including direct sales and partnerships with agents, to enhance market coverage [31] - A marketing center has been set up to optimize the marketing system and improve sales performance [32] Research and Development - The company emphasizes independent innovation in R&D, focusing on integrating technology with market needs [33] - It has established research institutes to drive technological advancements and product development [34] Financial Performance - The company has maintained a stable financial position, with no need for restating previous financial data [37] - The company’s credit rating remains stable at A+, indicating a strong financial standing [40]