Core Viewpoint - The company, Maxinlin (688685.SH), is experiencing steady growth and has signed contracts worth 1.184 billion yuan for high-performance server clusters, which are expected to positively impact its future performance [1]. Group 1: Business Developments - Maxinlin's subsidiaries, Ruiying Zhican and Ruixin Intelligent, signed four contracts with Beijing Construction and Beijing Jingyi, totaling 1.184 billion yuan for providing high-performance server clusters [1]. - The contracts are part of the company's regular business operations and are not related-party transactions, indicating a focus on expanding its service offerings in the computing power sector [1]. Group 2: Financial Performance - In 2024, the company's revenue from computing power services was 65.73 million yuan, accounting for 13.79% of total revenue, contributing to a significant overall revenue increase of 62.35% year-on-year, reaching 477 million yuan [2]. - The net profit attributable to shareholders for 2024 was 45.54 million yuan, marking a substantial year-on-year growth of 198.73% [2]. - In Q1 2025, the company continued its growth trajectory with a revenue increase of 168.82% year-on-year to 188 million yuan and a net profit increase of 407.62% to 40.5 million yuan [2]. Group 3: Research and Development - The company has been increasing its R&D investment, with expenditures of 20.51 million yuan, 25.29 million yuan, and 30.12 million yuan from 2022 to 2024, totaling 75.92 million yuan [3]. - In Q1 2025, R&D expenses reached 9.377 million yuan, reflecting a year-on-year growth of 70.09% [3]. - As of the end of 2024, the company held 12 core technologies in the aerospace sector, with 11 developed in-house [2]. Group 4: Market Performance - The company's total assets reached 2.963 billion yuan by the end of Q1 2025, an increase of 789 million yuan from the end of 2024 [3]. - Since the beginning of 2025, Maxinlin's stock price has shown a volatile upward trend, closing at 61.08 yuan per share on June 9, 2025, which is an increase of over 84% from the closing price of 33.19 yuan on December 31, 2024 [3].

Core Viewpoint - Jiangsu Maxinlin Aviation Technology Co., Ltd. has signed important operational contracts with its subsidiaries, which are expected to positively impact the company's performance in 2025 and beyond [2][25]. Group 1: Contract Details - The total amount of the contracts signed is RMB 11.84 billion [4][6]. - The contracts have a service period of five years, starting from the first delivery of computing power services [2][10]. - The contracts involve the provision of high-performance server clusters for simulation model inference based on openCL [5][15]. Group 2: Financial Impact - The revenue from these contracts will be recognized using the total amount method, with monthly revenue recognition over the five-year service period [2][25]. - The successful execution of these contracts is anticipated to have a positive impact on the company's performance in 2025 [2][25]. Group 3: Counterparty Information - The contracts are signed with Beijing Urban Construction Intelligent Control Technology Co., Ltd. and Beijing Jingyi Atmospheric Environmental Technology Co., Ltd. [4][15]. - There are no related party transactions between the company and the counterparties [9][17]. Group 4: Payment Terms and Conditions - Payments for the contracts will be made in advance every six months [11][22]. - The contracts include clauses for force majeure and breach of contract, detailing the responsibilities of each party in such events [11][22][24].