Shanghai Stonehill TechnologyCo., Ltd.
岩山科技
002195
Shenzhen Stock Exchange
Company Profile
1. Synergies in AI Field Layout The company's layout in AIGC large models, brain-computer interface and brain-inspired intelligence, and intelligent assisted driving can achieve effective complementarity and interaction among different business segments through data sharing and knowledge integration, algorithm innovation and technology integration, and complementary application scenarios. This can promote the company's development and innovation in the field of artificial intelligence. In the future, by integrating professional knowledge and technologies from different fields, the company can gain a unique competitive advantage and facilitate the creation of advanced artificial intelligence technology products and services. In the future, Nullmax has launched the NI technology, which will explore the integration of the Yan architecture multimodal large model to create all-scenario assisted driving applications and expand into embodied intelligence. Meanwhile, the Internet business will actively attempt to apply the Yan architecture large model to various AI tool products. 2. Self-developed Core Technologies Each business segment of the company has its own independently developed key technologies and intellectual property rights, ensuring the uniqueness of its products and reducing the risk of dependence on external technologies. 3. Advantage of High-end Talents In the field of intelligent assisted driving, Dr. Lei Xu, the founder of Nullmax, has worked at Qualcomm and Tesla in the United States and has over 10 years of experience in computer vision and machine learning research and development. In the field of brain-computer interfaces and brain-inspired intelligence, Dr. Meng Li leads research efforts with a background as a postdoctoral researcher at Harvard University and a researcher at prestigious institutions such as Max Planck Society in Germany and Shanghai Institute of Microsystem and Information Technology of the Chinese Academy of Sciences.In the AIGC field, Liu Fanping, the CEO of Rockchip Digital Intelligence, is an expert in the Shanghai Science and Technology Expert Database and has published several monographs in the field of artificial intelligence technology. 4. Abundant Own Funds and Investment Experience As of September 30, 2025, the company's total assets were 10,730,532,703.72 yuan, and its total liabilities were 356,569,250.03 yuan, with a debt-to-asset ratio of only 3.32%. The company has substantial own funds and smooth financing channels, providing strong support for business expansion, technology research and development, and marketing activities. Good cash flow management and a low debt ratio help the company withstand market fluctuations and achieve sustainable and stable development. The company has a professional investment team with in-depth business knowledge and rich project investment experience. The company will continue to leverage its abundant capital advantage to make financial product investments and equity investments under the premise of effectively controlling risks, laying a solid foundation for long-term sustainable development. 5. Leading "Internet Access Platform" and Rich Application Scenarios in China The company's core product, "2345 Website Navigation", has been in operation for 20 years since its establishment in 2005, providing users with a safe and green internet access and search engine entry point. It has accumulated a large number of internet users and enjoys obvious market first-mover and brand advantages. The company has formed a relatively complete diversified and multi-level product system with rich application scenarios, which not only meets the differentiated needs of users but also fully leverages the complementary advantages of each product, enhancing the company's core competitiveness. 6. High-quality Customer Resources Nullmax has established in-depth cooperation with many domestic and international automotive manufacturers, chip manufacturers, and first-tier suppliers for the mass production of assisted driving, and has obtained multiple mass production projects for passenger vehicles. The INSIDE Institute collaborates closely with well-known domestic hospitals and other institutions within brain intelligence research. The Internet technology company is a partner of Huawei's HarmonyOS ecosystem, and both sides will conduct in-depth cooperation in technological innovation and other fields. The Internet technology company has maintained long-term and stable cooperation with leading Internet companies, such as Baidu, Alibaba, Tencent, JD.com, and ByteDance, etc. Rock Core Digital Intelligence is currently collaborating with well-known PC, mobile phone, robot, and chip upstream and downstream manufacturers to actively explore mass production projects. In the PC sector, it has already cooperated with a leading overseas brand to customize an AIPC and has signed a framework agreement for the mass production of this product.
Full description
The company, with the mission of "centering on artificial intelligence to build a smarter, better and more harmonious world" and the vision of "becoming a globally leading artificial intelligence and technology innovation company", has comprehensively and deeply laid out the artificial intelligence sector on the basis of its Internet information service business, covering areas such as intelligent assisted driving, brain-computer interfaces and brain-inspired intelligence, AIGC, etc., and has achieved remarkable progress. 1. Internet Information Service Business Since its launch in 2005, 2345.com, a subsidiary of the company, has been committed to building "the preferred online entry platform for millions of users", adhering to the product philosophy of "user experience first", and has formed a dual-matrix product system of "Internet + mobile Internet". The company has been deeply engaged in the Internet for over two decades and is one of the domestic Internet platforms with a user base of hundreds of millions. 2. Artificial Intelligence Business (1) Intelligent Driving Business Nullmax is dedicated to creating all-scenario assisted driving applications and has launched a pure vision, truly mapless, multi-modal end-to-end assisted driving technology solution. Nullmax can provide full-stack software algorithm applications covering both the vehicle end and the cloud end, offering assisted driving functions for both highways and urban areas, and has developed a platform-based BEV-AI (Bird's Eye View-AI, i.e., AI technology for bird's-eye view) technical architecture that supports all technologies. In April 2025, Nullmax made its debut at the Shanghai International Auto Show, showcasing four production-level MaxDrive assisted driving solutions and a new generation of end-to-end assisted driving technology, covering from active safety functions to highway and urban assisted driving systems. In terms of commercialization, Nullmax has established in-depth cooperation with several well-known automakers for mass production, has obtained multiple production projects from domestic automakers， and is actively exploring overseas cooperation opportunities， having reached cooperation agreements with several global leading Tier 1 suppliers. (2) Brain-Computer Interface and Brain-inspired Intelligence With electroencephalogram("EEG") big data and EEG big model as the core technology base, INSIDE carries out scientific research and product development in the fields of brain science and artificial intelligence, brain-computer interface("BCI") decoding algorithm and system, diagnosis and evaluation of non-organic brain diseases (such as epilepsy, depression, severe insomnia, etc.), and brain internal state regulation. It promotes the commercialization of research results. In terms of application scenarios， the INSIDE Institute， based on the principle of steady-state visually evoked potential (SSVEP)， has successfully applied non-invasive brain-computer interfaces to the game "Black Myth： Wukong"， achieving continuous and precise control. This brain-computer interface control system demonstrates the INSIDE Institute 's leading neural decoding technology capabilities， capable of accurately decoding brain waves without the need for external devices such as mice， keyboards， or gamepads， and outputting control instructions in real-time and continuously at a high refresh rate. It has achieved human-computer interaction performance that rivals or even surpasses invasive brain-computer interfaces through a non-invasive approach. This technology can be widely applied in fields such as aerospace， smart homes， medical rehabilitation， and game entertainment in the future. At the same time， the INSIDE Institute continues to develop brain electrical large models and related products for non-organic brain diseases. Some commercial products based on brain internal state regulation technology have completed principle tests and engineering verification tests and entered the finalization stage. After completing the product finalization， they will be released at an appropriate time and can be launched on the market after completing subsequent production verification tests. (3) Generative AI (AIGC) Business RockAI is committed to the mission of "endowing every device in the world with its own intelligence". It builds general artificial intelligence technology based on the concept of "swarm intelligence" and has independently developed the first large model in China that does not follow the Transformer architecture or the Attention mechanism - the Yan architecture large model. The Yan architecture large model is based on the innovation of fundamental research such as MCSD (multi-channel slope and decay) and brain-like activation mechanisms. At the World Artificial Intelligence Conference (WAIC 2025) in July 2025, RockAI publicly released the Yan 2.0 Preview model, which added a "memory module", capable of storing key information during learning and quickly applying it in new scenarios. This means that the large model does not rely on external knowledge bases for memory but has native memory capabilities, pushing various downstream application devices towards autonomous learning. In the future, RockAI will focus on continuously strengthening core algorithm innovation and iterative upgrades around the "Yan architecture", using "offline intelligence" as a fulcrum to gradually achieve the "swarm intelligence" path of swarm learning ability and collaborative evolution, and strive to build a full-modal real-time human-machine interaction system. In terms of commercialization, RockAI has already provided localized applications and deployments for some enterprise customers, meeting their needs for data privacy, security, and low-cost deployment. At the same time, RockAI is actively exploring cooperation opportunities with different terminal device manufacturers such as robots, drones, mobile phones, and PCs to realize the application of this model in various downstream devices. 3. Diversified Investment Business The company continues to adhere to the concept of value investment and actively engages in diversified investment business, mainly including equity investment, financial product investment, and other business areas.