Group 1: Company Performance - The company reported a revenue of 1.57 billion CNY in Q3 2025, representing a year-on-year growth of 1.99% [1] - The net profit attributable to shareholders was 123 million CNY, showing a year-on-year increase of 11.89% [1] Group 2: Product and Market Strategy - The company is advancing its core capabilities through a dual-engine approach with "DAP platform + digital core system," covering financial, human resources, and supply chain sectors [1] - It is expanding into green digital products such as carbon management and virtual power plants, integrating digitalization with sustainability [1] - The company is deepening its presence in the power industry while also extending into non-electric sectors like healthcare and construction through a "headquarters benchmark + regional replication" model [1] Group 3: Energy Storage Initiatives - The company has developed a storage planning platform for grid-side energy storage, optimizing capacity and site allocation based on renewable energy generation and load distribution [2] Group 4: Workforce and Organizational Changes - The company is focusing on digital transformation and the construction of new power systems, continuously attracting talent and adjusting its organizational structure to enhance efficiency [3] Group 5: Artificial Intelligence Applications - The company has launched an AI platform, "Yuan Guang Tian Feng," integrating various AI capabilities and developing enterprise-level intelligent applications for tasks like intelligent Q&A and data analysis [4] - It has created smart hardware products that combine software and hardware, with applications in major state-owned enterprises and various non-electric industry clients [4] Group 6: Non-Energy Sector Clients - The company is expanding its client base beyond the energy sector, working with groups like Yuexiu Group, Haier Group, and several hospitals, thereby broadening its market reach into manufacturing, healthcare, and other industries [5][6]

Core Viewpoint - The stock of YuanGuang Software has experienced fluctuations, with a recent decline of 2.15% and a year-to-date increase of 11.34%, indicating mixed market sentiment towards the company [1][2]. Financial Performance - For the period from January to September 2025, YuanGuang Software reported a revenue of 1.57 billion yuan, representing a year-on-year growth of 1.99%, while the net profit attributable to shareholders was 123 million yuan, reflecting an increase of 11.89% compared to the previous year [2]. - Cumulatively, the company has distributed 801 million yuan in dividends since its A-share listing, with 186 million yuan distributed over the past three years [3]. Shareholder Information - As of October 20, 2025, the number of shareholders for YuanGuang Software reached 91,100, an increase of 0.87% from the previous period, while the average circulating shares per person decreased by 0.87% to 19,363 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 22.61 million shares, an increase of 7.62 million shares from the previous period [3]. Market Activity - On November 12, the stock price was reported at 6.38 yuan per share, with a trading volume of 177 million yuan and a turnover rate of 1.55%, indicating active trading [1]. - The net outflow of main funds was 9.96 million yuan, with significant buying and selling activity from large orders [1]. Business Overview - YuanGuang Software, established on December 29, 1998, and listed on August 23, 2006, specializes in the development and sales of financial and management software for the domestic power industry [1]. - The company's revenue composition includes 82.10% from digital enterprises, 9.32% from smart energy, 5.77% from artificial intelligence, 1.85% from data resource integration and services, and 0.96% from other sources [1]. Industry Position - YuanGuang Software is classified under the software development sector, specifically in vertical application software, and is associated with concepts such as carbon neutrality, state-owned enterprise reform, low prices, power IoT, and smart grids [1].

Core Viewpoint - The company, Yuanguang Software, has successfully implemented various smart financial projects in the healthcare sector, enhancing its influence in the industry [1]. Group 1: Project Implementation - The company has completed the acceptance of smart financial projects for dozens of hospitals in the healthcare industry [1]. - The integrated platform for Shenzhen Second People's Hospital has successfully launched modules for budget management, expense reimbursement, fund management, accounting report management, and material management [1]. - The digital finance system at Fudan University Huashan Hospital has fully launched budget management, contract management, special fund reimbursement, administrative reimbursement management, and electronic file systems across all departments [1]. Group 2: Ongoing Optimization - The company is continuously optimizing related services for over ten hospitals, including Peking University Dental Hospital, Henan Provincial People's Hospital, Shengli Oilfield Central Hospital, and Guozhong Kangjian [1].

Core Viewpoint - The company emphasizes its focus on seizing major opportunities in enterprise digital transformation, new power system construction, software autonomy in key areas, and the integration of AI and large model technologies [1] Group 1 - The company is actively recruiting talented individuals to support its strategic initiatives [1] - Organizational structure adjustments are being made according to business development needs to enhance operational efficiency [1] - The company aims to implement its strategic deployment to promote high-quality development [1]

Core Viewpoint - Yuan Guang Software announced on November 10 that it is the only publicly listed company controlled by State Grid Digital Technology Company, serving as an important innovation platform for the company [1] Group 1 - The company confirmed its status as a key innovation platform for State Grid Digital Technology Company [1] - The company will disclose any relevant information according to legal and regulatory requirements in designated media [1]

Core Insights - The company, Yuanguang Software, announced its strategic focus on artificial intelligence (AI) technology, emphasizing the development of a comprehensive AI platform called "YuanGuang TianFeng" that integrates various large models [1] - The company has launched several enterprise-level intelligent applications, including a unified natural language interaction interface and various intelligent agents for tasks such as knowledge Q&A, form filling, business auditing, report generation, and data analysis [1] - The integration of large models, OCR, IoT, and biometric technologies into smart hardware devices highlights the company's commitment to creating a seamless software-hardware ecosystem [1] Group 1 - The company is advancing its AI capabilities by developing a full-stack AI platform that supports various large models [1] - The launch of the enterprise-level super assistant "ShuZhiRen" serves as a unified entry point for natural language interactions [1] - The company has created specialized intelligent applications for business travel planning and financial scheduling, enhancing user experience through conversational interfaces [1] Group 2 - The company has released smart hardware products, including an unattended self-service payment terminal and an intelligent data query machine, showcasing its innovation in smart devices [1] - The applications of these technologies are evident in numerous case studies across major state-owned enterprises and various non-electric industry clients [1] - The integration of software and hardware solutions positions the company as a leader in the intelligent technology sector [1]

Core Viewpoint - The company focuses on the construction of zero-carbon parks and has developed a comprehensive smart energy and carbon management platform to support the transition to zero-carbon operations in industrial parks [1] Group 1 - The company announced on November 10 that it is concentrating on the demand for zero-carbon park construction [1] - The platform covers a full chain of capabilities including energy and carbon monitoring, evaluation and diagnosis, path optimization, trading decision-making, energy operation, and zero-carbon certification [1] - The integrated support provided by the platform aims to facilitate the zero-carbon transformation of industrial parks [1]

Core Viewpoint - The company aims to deepen its focus on the power industry while expanding into non-electric sectors such as healthcare and construction through a "headquarters benchmark + regional replication" model [1] Group 1 - The company will continue to focus on the power industry and expand into power generation groups and local energy markets [1] - The company plans to extend its reach into non-electric industries, including healthcare and construction [1] - The strategy involves a model that combines headquarters benchmarking with regional replication to achieve cross-industry breakthroughs [1]

Group 1 - The core product "YuanGuang DaPu (YG-DAP)" has been selected in the first domestic "CIO Selection Guide for Central State-Owned Enterprises - ERP Products" [1] - The company received the highest rating of A-level (Excellence) for its ERP product based on advanced technology, complete product functionality, and service capability [1] - The product has been applied in various industries including energy and electricity, water conservancy projects, construction, equipment manufacturing, medical services, mining and metallurgy, transportation, and finance [1] Group 2 - The 14th Five-Year Plan emphasizes the importance of basic software industries, indicating a strategic focus on this sector [3] - The company’s ERP product "YuanGuang DaPu" falls within the scope of basic software as highlighted in the planning suggestions [3]

Group 1: Artificial Intelligence Business Layout - The company has developed an AI platform called "Yuan Guang Tian Feng," integrating various large models and enabling full-link automation for enterprise-level applications [1] - Key applications include intelligent Q&A, form filling, business auditing, report generation, and data analysis, enhancing user interaction through a "dialogue-to-operation" experience [1] - The integration of technologies such as large models, OCR, IoT, and biometrics into smart hardware devices showcases a strong emphasis on software-hardware integration [2] Group 2: DAP (Digital Asset Platform) Application Progress - The company is advancing DAP applications in the electric grid sector, focusing on asset management and financial integration to support project management [3] - A "DAP + Financial Platform" model is being implemented in pilot projects across various regions, aiming for comprehensive project management in collective enterprises [3] - The strategy includes deepening engagement in the electric power industry while expanding into healthcare and construction sectors through a "headquarters benchmark + regional replication" approach [3] Group 3: Zero Carbon Park Initiatives - The company is developing a smart energy carbon management platform for zero-carbon parks, covering monitoring, evaluation, optimization, trading, and certification processes [3] Group 4: Healthcare Sector Developments - The company has successfully implemented smart financial projects in multiple hospitals, enhancing budget, accounting, and resource management systems [4][5] - Ongoing optimization efforts in various hospitals aim to expand the company's influence in the healthcare sector [5] Group 5: Future Planning and Organizational Changes - As the only publicly listed company under the State Grid Digital Company, Yuan Guang Software is positioned as a key innovation platform, with future capital operations subject to legal disclosure requirements [5] - The company plans to adjust its organizational structure and recruit talent to align with digital transformation and AI integration opportunities [5]