Group 1 - The core point of the article is that Neusoft Corporation has won a procurement project from the National Taxation Administration with a bid amount of 3.15 million yuan, announced on January 14, 2026 [1][2]. Group 2 - Neusoft Corporation (600718.SH) reported a revenue of 11.56 billion yuan for 2024, with a revenue growth rate of 9.64% [2]. - The net profit attributable to the parent company for 2024 was 63 million yuan, with a net profit growth rate of -14.70% [2]. - The return on equity (ROE) for the company was 0.66% in 2024 [2]. - For the first half of 2025, the company reported a revenue of 4.689 billion yuan, with a revenue growth rate of 9.08% [3]. - The net profit attributable to the parent company for the first half of 2025 was 56 million yuan, with a net profit growth rate of -42.75% [3]. - The company operates in the information technology industry, with main product types including ERP software, firewall software, software outsourcing services, and industry-specific software [3]. - The main business composition for 2024 included self-developed software, products, and services (including medical equipment and Xikang) at 83.94%, system integration at 14.37%, and property advertising at 1.69% [3].

Core Insights - Neusoft Group's "Tianyi" AI 2.0 has been recognized as one of the "Top 10 AI Agents in the Healthcare Industry" due to its deep penetration in medical scenarios, technological innovation, and successful implementation in over 100 medical institutions [1][2] - The evaluation was conducted by Frost & Sullivan in collaboration with the Tiger Research Institute, assessing nearly 300 AI agents based on originality, practical application, and industry impact [1] Company Overview - "Tianyi" AI 2.0 integrates AI, data, processes, and organization into a comprehensive medical intelligence solution, focusing on six core scenarios: smart healthcare, smart services, smart management, grassroots healthcare, smart health, and urban health data space [2] - The solution was launched in early 2025, quickly validated in the market, and scaled up, demonstrating its practical value and providing feedback for continuous iteration [2] Technological Advancements - "Tianyi" AI 2.0 has achieved breakthroughs in three dimensions: data foundation, empowerment platform, and value expansion, reflecting Neusoft Group's deep understanding of the medical business and integration with healthcare systems and human needs [2] - The company emphasizes that the best AI seamlessly integrates into the entire medical process, enhancing convenience for medical staff and improving patient experience, ultimately ensuring equitable and high-quality healthcare for everyone [2]

Core Viewpoint - The company has invested 30 million yuan in the Jinan Mingxin Industrial Investment Fund, acquiring a 22.54% share of the total subscribed capital, aligning with its strategic focus on the "big health" sector [1][2]. Group 1: Investment Details - The company acts as a limited partner in the fund, contributing 30 million yuan, which represents 22.54% of the total subscribed capital of 133.1 million yuan [2][16]. - The fund has an operational period of 8 years, with a 4-year investment phase [2][21]. - The investment does not require approval from the company's board or shareholders and is not classified as a related party transaction or a major asset restructuring [3][1]. Group 2: Fund Management and Structure - The fund is managed by Shanghai Mingxin Private Equity Fund Management Partnership, which is responsible for investment decisions and daily operations [9]. - The management fee is set at 1.5% per year during the investment period and 2% per year during the recovery period [10]. - Profit distribution follows a specific order, prioritizing the return of capital to limited partners before any profit sharing [11][18]. Group 3: Investment Focus and Strategy - The fund aims to invest in equity of growth-stage companies in the biopharmaceutical and healthcare sectors, seeking capital appreciation [12]. - The exit mechanisms include project exit distributions, partner withdrawals, and share transfers, ensuring flexibility for limited partners [13][14]. Group 4: Impact on the Company - This investment aligns with the company's strategic development and industry chain layout, leveraging professional investment experience and resources for long-term growth [23]. - The investment will not significantly impact the company's daily operations and will not be included in the company's consolidated financial statements [23].

Core Viewpoint - Neusoft Group (600718.SH) is optimizing its investment structure and enhancing investment value through a strategic partnership in the "big health" sector by signing a partnership agreement for the Jinan Mingxin Industrial Investment Fund [1] Group 1: Investment Details - The company has signed a partnership agreement with several private fund management firms, including Shanghai Mingxin Private Fund Management Partnership and Jinan Financial Investment New Momentum Private Fund Management Co., Ltd [1] - As a limited partner, the company will invest 30 million yuan in cash, accounting for 22.54% of the total subscribed capital of the Jinan Mingxin Industrial Investment Fund [1] - The partnership enterprise will have a duration of 8 years, with an investment period of 4 years starting from the establishment of the partnership [1]

证券代码：600718 证券简称：东软集团 公告编号：临 2026-002 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司作为有限合伙人，以现金方式出资 3,000 万元认购济南名信产业投 资基金合伙企业(有限合伙)份额，占认缴出资总额的 22.54%； 风险提示：投资基金具有投资周期长、流动性较低等特点，在投资过程 中将受宏观经济、行业周期、投资标的公司经营管理等多种因素影响，可能存在 因决策或行业环境发生重大变化，导致投资项目不能实现预期收益的风险。公司 作为有限合伙人承担的风险敞口以投资额为限，本次投资无保本及最低收益承诺。 公司将密切关注该基金的后续运作情况，并将根据进展情况及时履行信息披露义 务，敬请广大投资者理性投资，注意风险。 一、合作情况概述 （一）合作的基本概况 东软集团股份有限公司 关于参与认购投资基金份额的公告 根据公司在"大健康"领域的投资及战略业务布局，为优化投资结构，提升 投资价值，公司于 2026 年 1 月 12 日与上海名信私募基金管理合伙企业（有限合 伙）（以下简称"上 ...

Overview - The report summarizes the bidding results for urban rail transit communication systems in mainland China, excluding Hong Kong, Macau, and Taiwan, covering the period from January 1, 2025, to December 31, 2025 [3][4]. Market Summary - In 2025, 22 cities announced 71 bidding projects for communication systems, with a total bid amount of approximately 4.987 billion (49.87 hundred million) yuan, showing stability compared to 2024 [4][5]. - The communication systems are crucial for train operation, public communication, and information transmission, ensuring safe and efficient train operations [4]. City Distribution - Hangzhou led with 12 projects and a total bid amount of 1.0275450 billion (102.75450 million) yuan, indicating strong market activity [5]. - Chengdu followed with 3 projects totaling 62627.86 million yuan, while Shanghai contributed 53701.81 million yuan through 19 projects, showcasing diverse project types [5][6]. Project Types - The projects included 25 new line constructions, 17 extension lines, and 14 renovation projects, indicating a significant demand for upgrading existing communication systems [5][6]. Company Analysis - A total of 27 communication manufacturers participated in the bidding, with a competitive market landscape but notable advantages for leading companies [12]. - ZTE Corporation topped the list with 11 projects and a total bid amount of 1.0400836 billion (104.00836 million) yuan, accounting for 20.86% of the total bid amount [12]. - Zhejiang Zhongkong Information Industry Co., Ltd. ranked second with 6 projects totaling 74122.59 million yuan, while Hebei Far East Communication System Engineering Co., Ltd. secured third place with 7 projects amounting to 54128.02 million yuan [12].

Group 1 - The core viewpoint of the news is that Neusoft Corporation's stock has shown a positive trend in recent trading sessions, with a year-to-date increase of 8.34% and a 10.09% rise over the last five trading days [1] - As of January 8, Neusoft's stock price reached 10.91 yuan per share, with a total market capitalization of 13.02 billion yuan [1] - The company's main business includes software technology, industry solutions, software products, platforms and services, and medical equipment, with 85.92% of revenue coming from proprietary software, products, and services [1] Group 2 - As of September 30, Neusoft reported a total revenue of 7.49 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 8.72%, while the net profit attributable to shareholders decreased by 66.47% to 51.08 million yuan [2] - The number of shareholders increased to 98,200, up by 8.72%, while the average circulating shares per person decreased by 9.15% to 12,145 shares [2] - Neusoft has distributed a total of 1.89 billion yuan in dividends since its A-share listing, with 332 million yuan distributed over the past three years [3]

Group 1 - The DRG/DIP concept sector experienced a decline of 2.23%, ranking among the top losers in the market, with Rongke Technology hitting a 20% limit down [1][2] - Among the stocks in the DRG/DIP sector, the major losers included Jiarun Technology, Digital Certification, and Kexin Information, while Dongsoft Group and Guokexingtai were the only gainers, rising by 1.71% and 0.49% respectively [1][2] Group 2 - The DRG/DIP sector saw a net outflow of 1.131 billion yuan, with 19 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 30 million yuan [2] - Rongke Technology led the outflow with a net outflow of 707.1 million yuan, followed by Saily Medical, Weining Health, and Dian Diagnosis with net outflows of 184.69 million yuan, 77.79 million yuan, and 55.98 million yuan respectively [2][3] - The stocks with the highest net inflows included Dongsoft Group, Huaping Shares, and Chuangye Huikang, with net inflows of 81.71 million yuan, 1.99 million yuan, and 718,000 yuan respectively [2][4]

Market Overview - The IT services sector experienced a decline of 0.88% on January 7, with Rongke Technology leading the drop [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] Top Performers - Yanshan Technology (002195) saw a closing price of 9.44, with a significant increase of 10.02% and a trading volume of 1.1978 million shares, totaling a transaction value of 1.131 billion [1] - Taichuang Intelligent (301248) closed at 36.39, up 6.94%, with a trading volume of 128,600 shares and a transaction value of 459 million [1] - Dazhi Technology (600589) closed at 8.40, up 5.26%, with a trading volume of 4.2081 million shares and a transaction value of 3.523 billion [1] Underperformers - Caike Technology (300290) experienced a significant drop of 20.00%, closing at 23.00, with a trading volume of 938,500 shares and a transaction value of 2.19 billion [2] - Guoyuan Technology (920184) fell by 11.59%, closing at 19.76, with a trading volume of 139,800 shares and a transaction value of 283 million [2] - Hanzheng Technology (920092) decreased by 10.66%, closing at 43.68, with a trading volume of 80,500 shares and a transaction value of 361 million [2] Capital Flow - The IT services sector saw a net outflow of 2.115 billion from institutional investors and 237 million from retail investors, while retail investors had a net inflow of 2.352 billion [2][3] - Notable net inflows from retail investors were observed in Yanshan Technology (002195) with 2.59 billion, and Dazhi Technology (600589) with 941.364 million [3] Individual Stock Analysis - Yanshan Technology (002195) had a net inflow of 5.52 billion from institutional investors, accounting for 48.78% of its trading volume [3] - Dazhi Technology (600589) recorded a net inflow of 3.42 billion from institutional investors, representing 9.72% of its trading volume [3] - Dongruan Group (600718) had a net inflow of 83.57 million from institutional investors, making up 12.15% of its trading volume [3]

Industry Overview - The automotive gateway serves as the core data interaction hub in the vehicle's electronic architecture, acting as the "nervous system" or "translator" for different networks [2] - The automotive gateway market in China is projected to reach approximately 7.7 billion yuan in 2024, with a year-on-year growth of 22.22% [1][5] - The industry is transitioning from a traditional distributed ECU architecture to a domain-centralized/area architecture, driven by the evolution of automotive electronic and electrical architecture [1][5] Industry Chain - The upstream of the automotive gateway industry chain includes essential components such as chips, microprocessors, and communication modules [4] - The midstream involves the production and manufacturing of automotive gateways, while the downstream primarily consists of automotive OEMs, which directly influence market size and technology routes [4] - Recent government policies have supported the integrated circuit industry, significantly reducing costs and stimulating capacity expansion [4] Market Size - The automotive gateway is crucial in the wave of automotive intelligence, with its market size expected to grow significantly as the demand for cross-domain communication and protocol conversion increases [1][5] - The demand for high-performance gateways is driven by the rise of new energy vehicles and the proliferation of intelligent driving technologies [5] Key Companies Performance - Neusoft Group has established itself as a leader in automotive electronic software and information security, with a focus on "software-defined security" [7] - Beijing Jingwei Hirain Technologies has become a dominant player in the automotive gateway industry, offering a comprehensive product line that supports various protocols and advanced features [8] - Both companies have shown significant revenue growth, with Neusoft Group reporting a revenue of 7.49 billion yuan in the first three quarters of 2025, while Jingwei Hirain reported 4.46 billion yuan, reflecting their competitive positions in the market [7][8] Industry Development Trends - The automotive gateway is evolving towards a "vehicle server," integrating stronger computing power and service-oriented architecture (SOA) capabilities [9] - There is a shift towards edge computing and high-bandwidth networks to meet the demands of higher-level autonomous driving, with vehicle Ethernet transitioning from gigabit to 10-gigabit speeds [9] - A comprehensive security system is being developed, moving beyond simple encryption to a multi-layered defense architecture that includes collaboration among automakers, chip manufacturers, software companies, and cloud service providers [10]