Donghua Software Co., Ltd.
2026 Annual Report on the Feasibility Study of Issuing A Shares to Specific Objects
Donghua Software Co., Ltd. (hereinafter referred to as "Donghua Software" or "the Company") is listed on the Main Board of the Shenzhen Stock Exchange. To meet the Company's business development needs, enhance its profitability and market competitiveness, and in accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Administrative Measures for the Registration of Issuance of Securities by Listed Companies" (hereinafter referred to as the "Registration Measures") and other relevant laws, regulations, and normative documents, the Company intends to raise funds through a private placement of shares to specific objects (hereinafter referred to as "this Issuance"). This report is a feasibility study analysis report for this private placement.
Unless otherwise specified, the terms used in this report have the same meaning as defined in the "2026 Annual Plan for Issuance of A Shares to Specific Objects by Donghua Software Co., Ltd."
I. Background and Objectives of This Private Placement
(I) Background of This Private Placement
- China has elevated Artificial Intelligence to a national strategic level and issued a series of policies to strongly support and boost industrial development.
China has elevated the development of artificial intelligence to a national strategic level. In recent years, it has continuously improved top-level design and strengthened work deployment, striving to achieve overall and systemic leaps in the comprehensive strength of related fields.
In August 2025, the State Council issued the "Opinions on Deepening the Implementation of the 'Artificial Intelligence+' Action," which, by synergistically promoting industry application needs and basic capability supply, put forward a series of policy measures and clarified new development directions for related fields: Artificial intelligence is not only a tool for industrial upgrading but also a fundamental infrastructure for promoting China's modernization and a core engine for new quality productive forces. At the same time, this document proposes a "three-step" strategic goal: "By 2027, China will take the lead in achieving broad and deep integration of artificial intelligence with six key areas, with the adoption rate of new-generation intelligent terminals, intelligent bodies, and other applications exceeding 70%; by 2030, China's artificial intelligence will fully empower high-quality development, with the adoption rate of new-generation intelligent terminals, intelligent bodies, and other applications exceeding 90%, and the intelligent economy will become an important growth pole for China's economic development, promoting technology accessibility and benefit sharing; by 2035, China will fully enter a new stage of development for the intelligent economy and intelligent society, providing strong support for the basic realization of socialist modernization." The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China proposed the full implementation of the "Artificial Intelligence+" action, using artificial intelligence to lead the paradigm shift in scientific research, strengthen its integration with industrial development, cultural construction, people's livelihood security, and social governance, seize the commanding heights of related industrial applications, and empower all industries in an all-round way. In March 2026, the "Government Work Report" of the State Council pointed out the need to deepen and expand "Artificial Intelligence+" and accelerate the promotion of new-generation intelligent terminals and intelligent bodies.
- Artificial Intelligence is triggering a dual revolution in cognition and industry, with a continuously expanding market size.