Group 1: AI Integration in Real Estate - Mingyuan Cloud has integrated the DeepSeek large model, achieving over 2,500 project applications across real estate, home furnishing, and automotive industries, with a daily inference usage exceeding 120,000 [2] - The "AI Capability Three-Step" strategy proposed by Mingyuan Cloud allows real estate companies to enhance efficiency and reduce costs throughout investment management, project construction, and rental/sales operations [2] - Mingyuan Cloud has launched a series of AI products for marketing, including AI Creative Workshop, AI Live Broadcast, AI Salesperson, and AI Traffic Flow, transforming every aspect of marketing [2] Group 2: Partnerships and Collaborations - LianTou Real Estate and Mingyuan Cloud have integrated AI into real estate marketing, creating a digital marketing system that covers the entire customer lifecycle [4] - China Resources Land and Mingyuan Cloud have developed an integrated media matrix for customer acquisition across platforms like Douyin, Xiaohongshu, and Video Number [4] - Poly and Run have upgraded their direct sales capabilities through AI, achieving a 30-fold increase in exposure and a 25% increase in lead generation while reducing project costs by nearly 300,000 [5] Group 3: Digital Transformation in Project Management - Guangzhou Industrial Investment Group and Mingyuan Cloud aim to create a digital benchmark in engineering construction, focusing on quality, safety, planning, cost, design, and documentation [6] - Guiyang Investment Control and Mingyuan Cloud are developing a project management platform to enhance management efficiency and precision [6] - Suqian City Investment and Mingyuan Cloud are leveraging digital transformation for efficient management of state-owned assets, providing comprehensive oversight of asset operations [6] Group 4: International Expansion and Events - Mingyuan Cloud's overseas company MytePro has launched its Tokyo office, marking a significant step in its global business expansion [12] - MytePro hosted an event in Hong Kong focusing on AI's role in driving digital transformation in the real estate and construction sectors, attracting various industry stakeholders [12] - Mingyuan Cloud has organized numerous forums and events across China, engaging over 600 leaders from state-owned enterprises to discuss key development topics in the real estate sector [11]

Core Viewpoint - The real estate industry is transitioning towards a focus on quality and sustainability, driven by the "good house" concept, with government support in standards, technology, and projects [1][2]. Group 1: Industry Transformation - The "good house" initiative aims to create safe, comfortable, green, and smart housing, marking a new development path for the real estate sector [2]. - The implementation of the National Standard for Residential Projects sets baseline requirements for the construction of "good houses" [2]. - The demand for "good houses" is expected to activate new growth momentum in the real estate industry, supported by policies in planning, land, finance, and other areas [2]. Group 2: Marketing and Sales Challenges - The transition to "good houses" necessitates improved marketing strategies to effectively communicate unique features to potential buyers [3]. - There is a need for enhanced marketing capabilities to meet the higher demands for design, construction, and operation of "good houses" [3]. - AI technology can assist in capturing operational data and providing maintenance suggestions, improving overall efficiency [3]. Group 3: AI Integration in Real Estate - Mingyuan Cloud is leveraging AI technology to enhance real estate services, with plans to develop specialized AI models based on extensive industry data [4]. - The company has signed contracts worth approximately 28 million RMB for its AI products, covering nearly 1,000 real estate projects [4]. - Mingyuan Cloud focuses on integrating industry data with AI capabilities to improve application efficiency and reduce development redundancy [5]. Group 4: Future Growth and Market Expansion - The company anticipates rapid growth in its AI product offerings, with projected contract values potentially exceeding 100 million RMB by 2026 [7]. - The goal is to increase market penetration of AI products and expand market share through differentiated competitive strategies [7]. - Mingyuan Cloud aims to cover over 10,000 real estate projects with its AI solutions in the future [7].

历经八载同行，新财富"最佳IR港股公司"评选已凝练为国际资本市场的价值标尺。投资者关系（IR）作为企业与全球资 本对话的中枢，通过精准传递价值、管理预期稳定股价与流动性，更是化解港股高波动、弥合国际监管鸿沟的关键屏 障。卓越IR团队借力数字化工具与ESG前瞻叙事，将挑战淬炼为融入全球估值体系的机遇。 在数字经济浪潮以前所未有的深度与广度重塑全球产业格局的今天，传统色彩浓厚的不动产行业正站 在转型升级的关键十字路口，面临着前所未有的挑战与机遇。明源云（0909.HK），作为中国领先的 不动产生态链数字化解决方案服务商，深刻洞察行业脉搏，坚守"深耕数字科技，助力产业升级"的核 心使命。公司不仅专注于为房地产开发商、产业园区运营商、国资国企等不动产生态链的关键参与者 提供尖端的数字化产品与服务，更致力于成为其最信赖的合作伙伴，共同推动业务模式的精细化重塑 与深层次的数字化变革。 0 1 业务引擎全速驱动：创新引领，重塑行业数智版图 明源云的业务线包括云服务及本地化部署软件和服务，其中云服务包括客户关系管理、项目建设、资 产管理与运营及天际Paas平台四大产品线，适配不动产增量开发、存量资管及运营全场景数字化需 求。 ...

人工智能相关举措：公司推出了一些用于房地产视频营销的人工智能产品，包括AI创意工厂、AI销售 员、视频营销风控等。2024年，CRMCloud的人工智能产品合同金额达到2800万元人民币。CRMCloud 还将其支持人工智能的视频营销业务扩展到房屋经纪、汽车和家装领域。 云SaaS/PaaS业务营收同比下降17%：物业管理与运营SaaS营收同比增长3%，但被CRMSaaS/建筑管理 SaaS/SkylinePaaS平台(与住宅市场高度相关)分别同比下降12%/36%/36%的营收所抵消。公司将营收下 降归因于房地产行业新开工项目规模下降，以及预算紧张的房地产开发商需求减少。具体而言， CRMCloud覆盖的售楼处数量同比下降9%，而CRMCloud每用户平均收入(ARPU)同比增长3%。 本地部署软件业务营收同比下降24%：该业务主要为住宅房地产开发商提供房地产产品，由于民营开发 商在信息技术方面支出保守，导致营收下滑。 高盛指，明源云公布的2024年下半年业绩，营收和盈利能力均未达到高盛预期，营收同比下降19%，至 7.15亿元人民币(比高盛预期低14%)，其中云服务/本地部署软件营收分别同比下降17%/2 ...