Rongji Software (002474) Continuous Limit-Up Analysis: Driven by AI Application Concept Boom and Huawei Cooperation

Rongji Software (002474) achieved two consecutive limit-ups on November 18, 2025 [0][1], with a turnover of 1.088 billion yuan [1] and a main capital net inflow of 379 million yuan in the past 5 days [1]. This performance occurred against the backdrop of a booming AI application concept market [2][7], and the company, as a core target in the AI + government affairs field, benefited significantly.

From the fundamental perspective, the company’s main business covers industry application software research and development, system integration, and operation and maintenance services [0]. In the first three quarters of 2025, its revenue reached 366 million yuan (a year-on-year increase of 0.96%) [0], but net profit was a loss of 32.55 million yuan [0]. Core competitiveness includes in-depth cooperation with Huawei (Huawei Preferred ISV Partner, Kunpeng Ecosystem Partner) [0][5], over 20 years of digital government service experience [0], and the exclusive franchise right for Fujian IoT Public Service Platform [0].

At the market level, the AI application concept became the main line of A-shares in 2025 [3][7]. Against the backdrop of market volatility (over 4,000 stocks falling) [4], the AI application theme remained active [3][8], and Rongji Software stood out as a segment leader.

1. Segment Leading Advantage in AI-Government Affairs Integration
   : The company combines AI technology with government services, with orders scheduled until Q2 2025 [0], aligning with the digital government policy direction [5].
2. Valuation Boost Effect from Huawei Cooperation
   : As a Huawei AI platform partner, its technical strength has been recognized by the market, becoming an important driver of capital inflow [0][5].
3. Structural Opportunities Amid Market Differentiation
   : Against the backdrop of overall A-share volatility (Shanghai Composite Index down 0.56% [8]) and over 4,000 stocks falling [4], the AI application theme remained active against the trend [3][8], and the company stood out.

:

• Fundamental risk: Net profit loss of 32.55 million yuan in the first three quarters [0], profitability needs improvement;
• Theme volatility risk: The popularity of AI application concepts may fluctuate with market sentiment;
• Policy dependence risk: Government orders account for a relatively high proportion, policy changes may affect performance.

:

• The AI application track continues to expand [7], the company is expected to benefit from industry dividends;
• Huawei cooperation brings technical upgrades and order increments [0][5];
• Long-term demand for accelerated government digitalization [5].

: Investors need to pay attention to the company’s current net profit loss fundamental situation [0] and the investment risks that may be brought by short-term fluctuations in AI themes.

Rongji Software (002474)'s consecutive limit-ups are jointly driven by the boom in AI application concepts, Huawei’s cooperation endorsement, the implementation of government projects, and main capital inflows. Against the backdrop of market differentiation, the AI application theme has become an active main line, but investors need to balance theme popularity and the company’s fundamental situation, and view short-term stock price performance rationally.