上海索辰信息科技股份有限公司 2024年年度股东大会 上海索辰信息科技股份有限公司 2024年年度股东大会会议资料 （证券代码：688507 证券简称：索辰科技） 2025 年 5 月 1 上海索辰信息科技股份有限公司 2024年年度股东大会 目 录 | 上海索辰信息科技股份有限公司2024年年度股东大会会议须知 | 3 | | --- | --- | | 上海索辰信息科技股份有限公司2024年年度股东大会会议议程 | 6 | | 上海索辰信息科技股份有限公司2024年年度股东大会会议议案 | 8 | | 议案一：关于《公司2024年度董事会工作报告》的议案 | 8 | | 议案二：关于《公司2024年度监事会工作报告》的议案 | 12 | | 议案三：关于《公司2024年度财务决算报告》的议案 | 16 | | 议案四：关于《公司2025年度财务预算报告》的议案 | 21 | | 议案五：关于《公司2024年年度报告》及其摘要的议案 | 24 | | 议案六：关于公司2024年度利润分配方案的议案 | 25 | | 议案七：关于公司2025年度董事薪酬的议案 | 26 | | 议案八：关于公司2025年度监 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a market price of RMB 76.40 and an industry rating of "Outperform" [1][5]. Core Insights - The company, Suochen Technology, is expected to increase its focus on CAE software technology in 2024, expanding its application range, with the launch of physical AI anticipated to create new growth points [3][5]. - In 2024, the company reported revenue of RMB 379 million, an increase of 18.24% year-on-year, while net profit attributable to shareholders decreased by 27.89% to RMB 41 million [3][8]. - The company is actively working on enhancing its CAE software capabilities and integrating AI technologies to improve its product offerings and market competitiveness [8]. Financial Performance - The company’s revenue is projected to grow from RMB 514 million in 2025 to RMB 920 million by 2027, with net profit expected to rise from RMB 88 million to RMB 158 million during the same period [5][7]. - The earnings per share (EPS) are forecasted to increase from RMB 0.99 in 2025 to RMB 1.78 in 2027, reflecting a significant growth trajectory [5][7]. - The company’s gross margin for 2024 is reported at 71.86%, showing a year-on-year improvement of 2.42 percentage points [8]. Business Strategy - The company is focusing on expanding its CAE software technology, which is characterized by high technical barriers and long development cycles, to capture a larger share of the domestic market currently dominated by foreign competitors [8]. - Suochen Technology is also exploring the application of physical AI in various sectors, including robotics and renewable energy, to enhance its product offerings and market reach [8]. - Strategic acquisitions have been made to strengthen the company's industry chain, including investments in companies like Maishijie and Likong Technology to enhance its capabilities in environmental perception and data transmission [8].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has demonstrated stable performance with a revenue of 379 million yuan in 2024, reflecting an 18.2% year-on-year growth, while the net profit attributable to the parent company was 41 million yuan, down 27.9% year-on-year due to increased intermediary fees and management costs [6] - The gross margin improved to 71.9% in 2024, up from 69.4% in 2023, driven by a higher proportion of software products [6] - The focus on physical AI is a key strategy for the company, leveraging its core capabilities in CAE to rapidly expand into new markets [6] - The company has successfully implemented key scenarios for physical AI, enhancing equipment design optimization through real-time analysis and adjustments [6] - The company is actively pursuing mergers and acquisitions to integrate its CAE capabilities with physical AI applications, with a cash reserve of 1.8 billion yuan as of Q1 2025 [6] - The revenue forecast for 2025-2027 is set at 604 million, 850 million, and 1.105 billion yuan respectively, with net profits projected at 81 million, 120 million, and 160 million yuan [6] Financial Data and Profit Forecast - Total revenue for 2024 is projected at 379 million yuan, with a year-on-year growth rate of 18.2% [5] - The company expects to achieve a net profit of 81 million yuan in 2025, representing a 96.2% year-on-year increase [5] - The gross margin is anticipated to remain high, with estimates of 72.4% in 2025 and gradually increasing to 74.2% by 2027 [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Insights - The company reported a total revenue of 379 million yuan in 2024, representing a year-over-year increase of 18.24%, while the net profit attributable to shareholders was 41.45 million yuan, down 27.89% year-over-year [2][3] - In Q1 2025, the company achieved a revenue of 38.79 million yuan, reflecting a year-over-year growth of 21.73%, but reported a net loss of 15.63 million yuan, with the loss narrowing by 26.51% compared to the previous year [2][3] - The company is focusing on physical AI and building a comprehensive service platform, while continuing to integrate quality resources through multi-dimensional acquisitions [5][6] Revenue and Profitability - The company's overall revenue scale maintained good growth, with a gross margin of 71.86% in 2024, an increase of 2.43 percentage points year-over-year [3] - The revenue from the core CAE software products reached 228 million yuan in 2024, growing by 21.72% year-over-year, with a gross margin of 96.39% [4] - The technical services segment saw a significant revenue increase of 3150.08% year-over-year, reaching 10.82 million yuan, driven by acquisitions [4] Strategic Focus and Acquisitions - The company is concentrating on physical AI, launching a series of solutions aimed at upgrading industrial manufacturing intelligence [5] - In December 2024, the company strategically invested 88 million yuan to acquire a majority stake in a company specializing in electronic information equipment technology [6] - The company plans to acquire a 51% stake in another technology firm focused on smart manufacturing, which will enhance its capabilities in physical AI applications [6] Financial Forecast - The company is projected to achieve revenues of 566 million yuan, 788 million yuan, and 1.07 billion yuan for the years 2025, 2026, and 2027, respectively, with year-over-year growth rates of 49.54%, 39.11%, and 36.27% [11] - The net profit attributable to shareholders is expected to reach 68.88 million yuan, 102.37 million yuan, and 142.02 million yuan for the same years, with growth rates of 66.18%, 48.62%, and 38.73% [11]

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company achieved a revenue of 379 million RMB in 2024, representing a year-over-year increase of 18.24%, while the net profit attributable to the parent company was 41.45 million RMB, down 27.89% year-over-year. The lower-than-expected performance is attributed to delayed order confirmations from downstream customers. However, with an accelerated pace of mergers and acquisitions, revenue growth is expected to accelerate in 2025 [1][5] - In Q1 2025, the company reported a revenue of 39 million RMB, up 21.73% year-over-year, indicating a further increase in revenue growth compared to Q4 2024. This is attributed to an expanding customer base and the confirmation of some projects that were delayed from 2024 [2] - The company's product matrix is continuously expanding, with the engineering simulation software business expected to generate 228 million RMB in revenue in 2024, a year-over-year increase of 21.72%. New product launches are anticipated to drive rapid growth in simulation product development revenue in 2025 [3] - The company is accelerating its mergers and acquisitions, including a strategic investment of 88 million RMB to acquire a 55% stake in a company to enhance its capabilities in atmospheric waveguide prediction and assessment. This is expected to strengthen its market position in the domestic CAE market, which is currently dominated by foreign companies [4] Summary by Sections Financial Performance - The company reported a revenue of 320.38 million RMB in 2023, with a growth rate of 19.52%. The revenue is projected to reach 556.40 million RMB in 2025, reflecting a growth rate of 46.88% [7] - The net profit attributable to the parent company is expected to recover to 101.83 million RMB in 2025, after a decline in 2024 [7] Profitability and Valuation - The report adjusts the profit forecast for 2025 and 2026, lowering the net profit estimates to 102 million RMB and 131 million RMB, respectively, due to the delayed confirmation of projects [5][18] - The target price for the company is set at 93.66 RMB, based on a price-to-sales ratio of 15x for 2025 [5][9]

Group 1 - The core viewpoint of the articles highlights the financial performance and strategic initiatives of the company, including a revenue increase of 18.24% year-on-year and a net profit of 41.44 million yuan for 2024 [1] - The company plans to distribute a cash dividend of 1.83 yuan per 10 shares to all shareholders [1] - The company focuses on CAE software development and aims to enhance its research and development efforts, leveraging national policies and market demands to drive technological innovation and industry chain extension [1] Group 2 - The company is actively exploring the application of physical AI technology across various sectors, including aerospace, new energy, low-altitude economy, and robotics, to empower industrial equipment design and manufacturing [2] - The company has made strategic investments, including an 88 million yuan acquisition of Maishijie, which specializes in electronic information equipment technology and supports radar models [2] - The company is planning to acquire a 51% stake in Likong Technology, which focuses on smart manufacturing and provides essential technologies for physical AI applications [3]

国泰海通证券股份有限公司 关于上海索辰信息科技股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为上海索 辰信息科技股份有限公司（以下简称"索辰科技"、"公司"或"发行人"）首次公开 发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理办法》《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《上海证 券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》等有关法律法规和规范性文件的要求，就索辰科技使用部 分闲置募集资金进行现金管理的事项进行了审慎核查，并发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会证监许可〔2023〕461 号《关于同意上海索辰信 息科技股份有限公司首次公开发行股票注册的批复》同意注册，公司向社会公开 发行人民币普通股（A 股）10,333,400 股，发行价格 245.56 元/股，募集资金总 额为人民币 2,537,469,704.00 元，扣除各项发行费用后的实际募集资金净额为人 民币 2,315,749,104.82 元。 ...

国泰海通证券股份有限公司 关于上海索辰信息科技股份有限公司 部分募集资金投资项目延期的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为上海索 辰信息科技股份有限公司（以下简称"索辰科技"、"公司"或"发行人"）首次公开 发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理办法》《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《上海证 券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》等有关法律法规和规范性文件的要求，就索辰科技部分募 集资金投资项目延期的事项进行了审慎核查，并发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会证监许可〔2023〕461 号《关于同意上海索辰信 息科技股份有限公司首次公开发行股票注册的批复》同意注册，公司向社会公开 发行人民币普通股（A 股）10,333,400 股，发行价格 245.56 元/股，募集资金总 额为人民币 2,537,469,704.00 元，扣除各项发行费用后的实际募集资金净额为人 民币 2,315,749,104.82 元。上述资金已全部到 ...

上海索辰信息科技股份有限公司 内部控制审计报告 中国杭州市钱江新城新业路 8号 UDC 时代大厦 A 座 5-8 层、12层、23 层 Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road, Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 www.zhepa.cn 他可使用手机"扫一扫"或进入"注册会计师行业绩一监管平台（http://wc.mof.gov.cn） 进行查 码:浙25YPMB4UTG 内部控制审计报告 中汇会审[2025]4580号 上海索辰信息科技股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我 们审计了上海索辰信息科技股份有限公司(以下简称索辰科技公司)2024年12月31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》《企业内部控制 评价指引》的规定,建立健全和有效实施内部控制,并评价其有效性是索辰科技 公司董事会的责任。 二、注册会计师 ...

国泰海通证券股份有限公司 关于上海索辰信息科技股份有限公司 2024 年度募集资金存放与使用情况的专项核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为上海 索辰信息科技股份有限公司（以下简称"索辰科技"或"公司"）的持续督导机构， 根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上市公 司募集资金管理和使用的监管要求》《上海证券交易所科创板股票上市规则》《上 海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等相关规定， 对上市公司 2024 年度募集资金存放与使用情况进行了审慎核查，具体情况如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会证监许可〔2023〕461 号《关于同意上海索辰信 息科技股份有限公司首次公开发行股票注册的批复》同意注册，公司向社会公开 发行人民币普通股（A 股）10,333,400 股，发行价格 245.56 元/股，募集资金总 额为人民币 2,537,469,704.00 元，扣除各项发行费用后的实际募集资金净额为人 民币 2,315,749,104.82 元。上述资金已全部到位 ...