亚信科技2025中期报告

2025 2781722353637394041 7.83 2025AI AI5GICTAI+ ICT 25.9813.2%ICT21.1814.7%4.088.8%5G0.4726.3%0.8251.7%AI0.26760.778ICTBOMICT ICTAI20257.836.1%30.1%5.435.3%2.020.480.7 202540% AI 2025AIDeepSeekAI AIAIAI40%RAGPromptAI AIACG AI 20257,000784,000AI0.2676 5G 5GAI-RAN5GAI-RAN5G5G 345G5G7295G5G5G5G5G5G20252,0005G 2105G5G5GAI-RAN AI5G5G5G 20250.8251.7%0.4726.3% 30++AI 18.2% AICDP48.3% AI5.3% +AI4.4% +AI AgentAIAIAIAI 20254.088.8%33.4%6.7 ICT AIICT ITAI+2025AIBSSOSS48AI1010 2025ICT21.1814.7%AIBSSAIICT ITAI Native AI-RAN AllianceGTI AwardsOmdiaTM Forum5G4GartnerAI NativeCoPilotDeepSeekAI-RANAgentic5G/6GAgentic • AI25N24016DataOpsAgentic AIAI ITAIITAI NativeGPUDevOpsAISDLCAINativeAIAgentITGartnerIDCPaaSSimOpsGartner2025AgentITNeRF3DGSAIMCPACPAI 3GPPITU ETSI IEEE TMF O-RAN20256356265GO-RAN324529 ICTAI5GAI5GAI 2025AIAI5G 25.98202429.9413.2% 20257.8320247.386.1%30.1%202424.7%5.42.020.4820240.70 20255.9420249.1935.3% 202525.98202429.9413.2% ICT2025ICT21.18202424.8414.7% 20254.0820244.478.8%15.7%202414.9%0.8 20255G0.4720240.6326.3%1.8%20242.1%0.3 AIAI2025AI0.2620240.0031.0% 202518.15202422.5619.6% 20257.8320247.386.1%30.1%202424.7%5.4 20252.2320242.211.1% 20252.9720241.8362.4%1.43 20254.1520244.364.9% 20250.3420240.21 20252.020.4820240.70 2024 202563093.1120241231105.0011.3%31.532024123138.5918.3%61.582024123166.417.3% 202563035.972024123141.7713.9% 202563019.322024123119.32 20256306.132024123116.1862.1% 202563017.852024123120.6513.6% 202563029.572024123129.320.9%2.50202412312.9415.2% — 2025630—1.58202412311.7911.8%5% 20256304.12202412312.7549.9% 20256309.582024123111.0413.2% 202563012.382024123116.4024.5% 202563020241231120241231 1100% 202563020241231 20255.9420249.1935.3% 20250.0820243.2897.6% 20254.1720246.9640.0% 2025630 2025630 2025630XVXV78352 A.(L) —(S)—B.2025630937,322,8801(i)Info Addition LimitedInfo Addition LimitedInfo Addition Capital Limited PartnershipInfo Addition Capital Limited Partnership1,151,111(ii)51.42%AsiaInfo Investment Limited190,016,9764(iii)PacificInfo LimitedPacificInfo Limited39,442,0002(i)20,742,257(ii)Pre-IPO3,798,656Noble (Nominees) Limited(iii)20231,600,000AsiaInfo SAS Management Trust32019112,0002020616202132520242019 XV352 2025630XV23336 A.(L) —(S) — B.2025630937,322,880 4XVAsiaInfo Investment LimitedAsiaInfo Investment Limited2025312190,016,976 90.08% InfoAddition Capital Limited Partnership PacificInfo Limited CBC Partners II L.P.2024116279,854,851 5(BVI)72.72%(BVI)XV(BVI) 6329202559XVSinoVenture Capital 1B Ocean Voice Investment Holding LimitedSinoVentureCapital 1 VCC Sino Venture Capital 1BSinoCapital Management Company Limited SinoVenture Capital 1 VCCSino Capital Management Company Limited99%OceanVoice Investment Holding LimitedSinoSuisse FinancialHoldingLimited Sino Suisse Capital Pte.LtdSinoVenture Capital 1 VCCA.M.Y.(Sinosuisse) Ltd.Sino Suisse Financial Holding Limited80%A.M.Y. (Sinosuisse) Ltd.Ocean Voice Investment Holding Limited 2025630XV23336 18 201862620191125(i) Pre-IPO(ii) 2019Pre-IPO2019 Pre-IPO Pre-IPO1159Pre-IPOPre-IPOPre-IPO Pre-IPO 1.(10)2.3.4.10.63 2019 2019201920191142019202563033,596,6292024123131,398,251 20192019201911251020194320192019114202157 2019 1.(10)2020616202132550%20%30%20216920223112022510202361440%30%30%202481620%20%30%30% 2. 3.10.45 4.2024118 2020 2020172020(i)(ii)20202020 2020(i)(ii) 20202020202142046,013,9465.0%20256304.91%202563020203,258,300202412313,258,300 2020 2020 20215262022311202362915,260,4491,000,0007,400,00020215262022311202362913.1213.2410.8 202020201710202054202020201820202272021420 1.202152620223112023629202152620223119.1910.988.8 2.3. 2023 202312420232023(i)(ii)2023 20232023 20232023 2023202346,765,21520235.0%20256304.99%202410152024102421,680,0002,000,0005.055.222025630202323,275,2152024123123,085,215 2023 20232023 2023 202320231241020238420232023124 2024 1.2024101520241024 2.3. 0% 202563011,3792024123112,868 36562025630343434 2410 202563034 108 202584 2025630 2025630— 2025630— 2025630 2025630 1 20181219 2 202563034202584 202420253 34 2024 241035 3 2025630 3 21— 4 2025630 4 5 (i) (ii) (i)20256303,833,000202413,424,0004,967,00020244,334,000 (ii) 2025630 6 202563025%202425%10%15%202410%15% 2025630200%2024200% 3379120081110% 202511 2025630 7 8 2025630 9 2024630 202520246302014Pre-IPO2019 2025630 10 16,638,000445,00035,000410,000202463025,248,00067,00022,00045,000 45,219,00040,811,000202463047,254,00041,048,000 11 2025630 11 2025630 12 30 2025630 12 1303190911801813651 202563093,735,00020241231502,052,000 13 202563014,843,000202432,941,000 7,536,00020247,508,000 2025630 202563020241231 15 2025630 16 (1)2025630Pre-IPO2019823,0081,195,560 17 202463020231242023202320201720202020 2025630 17 2025630202020233,154,800 202463010,260,800202376,175,00069,214,0006,136,534 18 2025630 202563020192020202348,808,000202463047,861,000 19 13 ••• 2025630 1