Group 1: Report Overview - The report is about a research on Huaru Technology in the software development industry on November 5, 2025 [1][2] Group 2: Research Basic Information - Research object: Huaru Technology [17] - Industry: Software development [17] - Reception time: 2025 - 11 - 05 [17] - Reception personnel: Board Secretary Wu Yaguang [17] Group 3: Detailed Research Institutions - Northeast Securities (Securities Company, representative: Huang Ze) [18] - China Foreign Trade Trust (Other, representative: Xia Xingyu) [18] - Yizhi Investment (Investment Company, representative: Deng Xiangwei) [18] Group 4: Proportion of Research Institutions - Securities companies: 33% [21] - Others: 33% [21] - Investment companies: 33% [21] Group 5: Company Information and Key Technologies - The company upgrades its core brand XSim from "military simulation" to "military intelligence" with the "1?5?5?N" new - generation XSim military intelligence system, responding to the future of national defense intelligence [25] - XSimVerse military large - model is a special large - model for the military field, with military cognition and decision - making abilities, supporting five application areas [25] Group 6: Five Application Areas of Military Intelligence Business - Intelligent decision - making: Build an intelligent OODA decision - making system to improve the efficiency of the auxiliary decision - making process [25] - Virtual training: Construct a closed - loop training system to offer a near - real - combat training experience [27] - Digital and intelligent testing: Integrate the digital parallel test field with the military large - model to form an intelligent application product system for weapon equipment testing [28] - Simulation training equipment: Build a combat - realistic confrontation training equipment system to enhance trainees' combat capabilities [29] - Intelligent equipment: Build an unmanned cloud brain and unmanned equipment system to improve equipment's autonomous and collaborative combat capabilities [30] Group 7: Company's Business Performance - In the first three quarters of 2025, the company's operating income was 157 million yuan, a 2.55% increase year - on - year; the net profit after deducting non - recurring gains and losses was - 146 million yuan, a 46.84% increase year - on - year [30] - In the first three quarters of 2025, the company's operating cost was 143 million yuan, a 40.02% decrease year - on - year, mainly due to the cost transfer of terminated projects last year [30] Group 8: Company's Game Business - The armored TPS online game "Armored Red Edge" developed by Beijing Xiaoru Culture and Technology Co., Ltd. (a wholly - owned subsidiary of Huaru Technology) was launched on October 31, 2025, expanding the company's strategic depth in the serious game e - sports field [30][31]

Core Viewpoint - The company, Huaru Technology, will focus on military intelligence-related product development and applications starting in 2025, aiming to create a new paradigm for national defense [1] Group 1: Company Strategy - The company plans to develop the XSim military intelligence system, utilizing a military large model as its foundation [1] - Huaru Technology will leverage its self-developed intelligent simulation platform, digital battlefield, intelligent agents, digital forces, and a series of tools for digital-physical interconnection [1] Group 2: Application Areas - The company aims to provide a range of products and solutions in five key application areas: intelligent decision-making, virtual training, digital intelligence testing, training equipment, and intelligent equipment [1]