Kaili (301070.SZ) recently conducted a specific survey, the company responded to the questions raised by investors in this briefing:
1. The historical evolution of Henan Yuzi Kaili Intelligent Technology Co., Ltd. (hereinafter referred to as 'Yuzi Kaili') and the background of the cooperation between the two parties?
In 2018, Henan Yuzi Investment Holding Group Co., Ltd. (hereinafter referred to as 'Yuzi Group') made strategic investments in the company before its listing and held shares in the company.
In September 2022, the company and Yuzi Group jointly established Henan Yuzi Kaili Energy Technology Co., Ltd., with a registered capital of 0.1 billion yuan and each holding 50% of the shares. According to business development needs, in September 2023, the two parties increased their capital to Yuzi Kaili in the same proportion, and the registered capital increased to 0.3 billion yuan.
In response to the national strategy of empowering artificial intelligence technology and high-quality development and striving to contribute to the development of 'new quality production forces', Yuzi Kaili added artificial intelligence-related business scope in June 2024 and officially changed its name to 'Henan Yuzi Kaili Zhike Technology Co., Ltd.'. According to the agreement between the shareholders, the company will actively carry out related business around landing applications of artificial intelligence scenarios, development of data elements, construction of computing power pools and development platforms.
2. Please introduce the background of the cooperation partner Yuzi Group.
Yuzi Group was established in May 2011 and is a provincial-level investment and financing company approved by the Henan Provincial Government. In September 2022, it was listed as one of the two state-owned capital operation companies by the provincial government, and formally reorganized as a state-owned capital operation company in January 2024.
Yuzi Group deeply cultivates the four industrial tracks of 'new vehicle, medical treatment, number and material' ('new' refers to new materials, 'vehicle' refers to new energy and Internet-connected vehicles, 'medical' refers to biomedical, and 'number' refers to digitization).
It holds a controlling stake in Henan New Materials Investment Group Co., Ltd. ('Henan New Materials Group'), Henan Province Automotive Industry Investment Group Co., Ltd. ('Henan Automotive Industry Investment Group') and Yu Jian Biomedical Group Co., Ltd. ('Yu Jian Biomedical Group'). It actually operates 26 parent-child funds with a management scale of more than 137 billion yuan and has invested in more than 240 strategic emerging industry projects at home and abroad; it holds a controlling stake in Henan Yuzi Urban-Rural Integration Construction Development Co., Ltd. and Henan Yuzi Indemnificatory Apartment Management and Operation Co., Ltd., and has invested in building more than 20 industrial parks and supported more than 100 cities and counties and more than 700 indemnificatory housing projects throughout the province.
3. As shareholders of the listed company and the other cooperating party, what is their strategic positioning in Yuzi Kaili's artificial intelligence sector and complementary advantages?
Complementary advantages: the company is listed on the Growth Enterprise Market of the Shenzhen Stock Exchange and has a highly market-oriented operation mechanism, personnel incentive system and capitalized platform. The cooperating party relies on its own background and industrial accumulation, and has rich scene and industrial resources.
Strategic positioning: The company comprehensively deploys the artificial intelligence business of Yuzi Kaili and aims to achieve an overall strategic transformation from traditional manufacturing to 'new quality production forces' represented by AI+. The cooperation party, according to its own four major industrial tracks of 'new vehicle, medical treatment, number and material' layout, has created an important platform for the development of digital and intelligent businesses.
Both parties hope that Yuzi Kaili will serve as the carrier for the realization of their strategic goals, and jointly promote the development of new quality production forces represented by the artificial intelligence industry in Henan and even the whole country.
4. What is the plan for Yuzi Kaili's AI business? What are the specific products?
According to the agreement between the shareholders, Yuzi Kaili will actively carry out related businesses around landing applications of artificial intelligence scenarios, development of data elements, construction of computing power pools and development platforms in the future. The main product form currently being researched and developed at Yuzi Kaili is a general-purpose model service development platform and an all-in-one machine product with training and reasoning functions ('training and reasoning all-in-one machine').
5. What are the specific service functions of the model service platform?
This platform has the ability to schedule and manage GPU computing resources, provides management functions for open source datasets and models, and has tool chains for large-scale model service-related tasks such as data labeling, model fine-tuning, model compression, and model deployment; it adapts to users' hardware environments, pre-installs mainstream open source models, and provides efficient, convenient and visual one-stop model development and service operation capabilities.
6. What are the specific functions of the training and reasoning all-in-one machine?
This product adopts a soft and hard integrated form. It realizes fast local private deployment of AI computing power, model platform, and basic smart applications, and can access user IT systems or data centers. It is suitable for building application environments for technical applications and system innovation, and can also perform high-load tasks through clustering. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.
A training-functional all-in-one product that integrates all or part of the model service platform developed by Yuzi Kaire. It has the characteristics of full-process data management, wizard-style model training configuration, visual training process, and training cost optimization. After private deployment, customers can use the product to build their own industry-specific models and fine-tune and upgrade subsequent models.
An all-in-one machine product with inference function can compress and install industry models that have been trained.
What are the points of integration between the model service platform and the training and inference all-in-one machine in terms of product positioning?
According to different scenarios, the training and inference all-in-one product exists in the form of PC devices or small servers. The model service platform can be deployed in the training and inference all-in-one to achieve private deployment.
Currently, Yuzi Kaire focuses on the rigid demand application scenario of "official document writing" for enterprises and institutions, integrating the model platform and official document writing application into one and pre-installing it in the official document all-in-one machine. It realizes fast local deployment of AI computing power, large models and intelligent official document writing applications, improves user work efficiency, and creates new productivity of office.
What are the features of the training and inference all-in-one product designed by Yuzi Kaire for users who have a demand for private deployment?
What hardware does the company mainly use? Yuzi Kaire's design and development of all-in-one machines are plug-and-play, with built-in content detection models, realizing domain-secluded data and security control. At the same time, the product also uses advanced encryption technology for specific users to ensure the security and confidentiality of information transmission. The product adopts Chinese-made configuration to meet the requirements of independent controllability and localization. The all-in-one machine has different models designed according to different application scenarios, and is compatible with multiple domestic GPU computing cards.
What functions does the official document writing all-in-one machine product designed by Yuzi Kaire have at the application layer?
The official document writing all-in-one machine product comes with an all-in-one official document processing platform. It provides common official document templates, supports the generation of article outlines and official document writing based on templates, with accurate ideas, reasonable layout, clear logic, clear hierarchy, concise wording, smooth writing, and easy-to-understand expression. It supports smart modification of existing content, including rewriting, polishing, summarizing, continuing writing, expanding writing, shortening and other functions. It supports the review of incorrect content to ensure smooth and accurate content generation. It provides built-in official document samples, including work plans, job reports, insights, speech materials, etc., and supports natural language search for relevant samples and application. It provides smart Q&A function, searches for available materials based on user questions, and provides feedback, reference materials, and related questions.
After the official document writing all-in-one machine product with 'official document writing' function is launched, what is the business plan?
In the early stage, the company plans to mainly promote the product to government and enterprise customers in Henan province. At present, there are 17 prefecture-level cities and 157 county-level administrative regions in Henan Province (21 county-level cities, 82 counties, and 54 districts). According to previous market research, the penetration rate of similar products is relatively low, and the potential market space is considerable.
What are the future promotion plans for the model service platform?
The service platform will mainly focus on the fields of smart government affairs, smart medical care, and smart travel. In the medical and health field, it plans to cooperate with Henan Province's top hospitals through Yujian Biological Group to jointly promote the construction of the platform. In the smart travel field, it plans to integrate travel data through Henan Province Automobile Industry Investment Group and create a smart travel platform represented by autonomous driving. Smart government affairs currently mainly focus on the promotion and use of standardized products such as the official document writing all-in-one machine.