Zhiyang Innovation Technology Co. Ltd. A

Zhiyang Innovation announced on the evening of August 14 that it plans to issue shares to specific investors to raise no more than 904 million yuan. After deducting issuance expenses, the funds will be used for research and development projects in multi-domain embodied intelligence and artificial intelligence agents, research and development projects for intelligent sensing terminals and their analysis management platforms, industrial upgrading and renovation of all-domain artificial intelligence sensing terminals and supporting energy facilities, as well as replenishing working capital and repaying interest-bearing debt. The company said the first two research and development projects will enhance its research and development capabilities in embodied artificial intelligence software and hardware, as well as sensing technologies such as SPAD, radar-vision fusion, and fiber optic sensing, building technological barriers for market competition. The industrial upgrading and renovation project will comprehensively update existing production lines, improve automated production and intelligent manufacturing levels, and meet demand in newly expanded areas such as water conservancy and rail transit. Part of the raised funds will be used to replenish working capital and repay interest-bearing debt, in order to cope with raw material procurement and manufacturing investment brought by business scale growth, as well as the high research and development investment needs of the artificial intelligence industry. In the first quarter, Zhiyang Innovation reported operating revenue of 149 million yuan, up 9.11 percent year on year, and a net loss attributable to the parent company of 11.1784 million yuan.

On the evening of August 14, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued announcements covering major matters, half-year results, shareholding changes, and large orders. Keda Manufacturing terminated its purchase of a 51.55 percent stake in Tefu International. Zhongheng Electric's controlling shareholder, Zhongheng Technology Investment, received a capital increase of 4.1 billion yuan from CATL, subscribing to 14.4118 million yuan of new registered capital, and the two sides signed a strategic cooperation agreement. Huashi Technology plans to buy a 30 percent stake in Aoxing Technology for 300 million yuan. Haitong Development's wholly owned subsidiary plans to invest no more than 600 million yuan to build two 62,000 deadweight ton multipurpose heavy-lift vessels. Zhiyang Innovation plans to raise no more than 904 million yuan through a private placement. Fuleide plans to raise no more than 1.176 billion yuan through convertible bonds. In half-year results, Kweichow Moutai posted first-half net profit of 44.517 billion yuan, down 1.95 percent year on year. Satellite Chemical posted net profit of 6.226 billion yuan, up 126.94 percent. Shengyi Technology posted net profit of 3.287 billion yuan, up 130.42 percent. Ping An Bank posted net profit of 25.696 billion yuan, up 3.3 percent, and plans to pay a dividend of 2.49 yuan per 10 shares. China Communications Construction signed new contracts worth 902.949 billion yuan in the first half, down 8.89 percent year on year. In addition, Fuwei Shares received a seat project nomination from a joint-venture brand customer, with an estimated total life-cycle sales value of 2.86 billion yuan. A subsidiary of Shaanxi Construction Engineering won the bid for a 1.156 billion yuan Yunjing Intelligent Computing Center project. A subsidiary of Zhejiang Construction Investment won the bid for a project worth 2.497 billion Hong Kong dollars.

Zhiyang Innovation has defined its AI plus industry strategic path during an investor communication event, with the power sector as its foundation and water conservancy and rail transit as its second and third growth curves. The company has established six core technology platforms: a one-stop AI platform, a big data and digital twin platform, the Zhiyang Industrial Large Model Technology Platform, an AI agent technology platform, an intelligent terminal technology platform, and an embodied intelligent drone technology platform. Its business has expanded from the power sector to water conservancy, rail transit, new energy, emergency management, geological safety monitoring, and other fields. Management stated that in China, average annual investment in water conservancy has exceeded one trillion yuan over the past three years, while annual investment in rail transit has reached hundreds of billions of yuan, creating sustained growth opportunities for the company. During the event, the company demonstrated applications such as ultra-high voltage inspection and autonomous reservoir flow measurement, and organized a field visit to the Taihe Reservoir to inspect smart water conservancy solutions.

Zhiyang Innovation has optimized its core technical team by adding two algorithm PhDs, Dong Yunlong and Bao Chun, as core technical personnel. The original core technical member Hu Zhikun has been removed from this category due to a change in job responsibilities but remains in his position as normal. Following this adjustment, the company's core technical personnel have expanded from six to seven, strengthening its talent pool in the AI algorithm segment. Dong Yunlong holds a PhD in mechanical engineering and has long focused on the development of intelligent algorithms for drones. Bao Chun holds a PhD in instrument science and technology and is responsible for the research and development management of intelligent terminal algorithms. The company stated that it has established a mature R&D platform, and this adjustment will not have a material negative impact on product development or daily operations. It will continue to improve its mechanisms for attracting and incentivizing high-end talent, and consolidate its technical advantages in the intelligent operation and maintenance of the power, water conservancy, and rail transit sectors.