Core Viewpoint - The company, Shangong Shenbei, has faced a decline in stock price and performance despite initial excitement surrounding its entry into the low-altitude economy sector, with significant losses reported in its overseas operations [1][3][5]. Group 1: Company Overview - Shangong Shenbei's stock price peaked at 19.28 yuan per share but has since fallen, with a current price of 10.54 yuan and a market capitalization of 7.517 billion yuan [1]. - The company has been involved in overseas business primarily in sewing equipment and smart manufacturing, as well as general aviation aircraft manufacturing, which is a new venture for 2024 [1][3]. Group 2: Financial Performance - In 2024, the company reported overseas revenue of 1.333 billion yuan, accounting for over 30% of total revenue, with a gross margin of 24.79%, down 10.58 percentage points from the previous year [3]. - The subsidiary Dürkopp Adler GmbH (DA Company) experienced a revenue decline of 15.95% in 2024, resulting in a net loss of 178 million yuan, marking a shift from profit to loss [3]. Group 3: Strategic Moves and Challenges - The company announced plans to invest in DA Company and acquire assets from the bankrupt ICON Company in the U.S., raising concerns from the Shanghai Stock Exchange regarding the relevance of these investments to its core business [2][3]. - Despite a history of international acquisitions since 2004, the company lacks experience in managing U.S. aircraft manufacturing, which poses a challenge for its new business direction [3]. Group 4: Ownership and Control - The company is currently without a controlling shareholder, as both the largest shareholder and the second-largest shareholder hold less than 30% of the shares, leading to a lack of control over the company [4]. - The recent change in indirect ownership involving the "King of Rare Metals," Zhu Shihui, adds complexity to the company's governance structure [4].

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed response addressing various investment and financial disclosure issues [1]. Group 1: Long-term Equity Investments - The company's long-term equity investment balance at the end of the reporting period was CNY 397 million, a year-on-year decrease of 15.89%, with an impairment provision of CNY 14.12 million [1]. - The long-term equity investments included CNY 324 million in Shanghai Feiren Technology Co., CNY 46.84 million in Shanghai Lingang Financing Leasing Co., and CNY 25.27 million in Shanghai Jizan Industrial Co. [1]. - The company recognized an investment loss of CNY 62.33 million for the reporting period, compared to CNY 127 million in the previous year, and an adjustment loss of CNY 12.61 million in other comprehensive income [1][2]. Group 2: Investment Project Details - The company was asked to provide detailed information on its investments in Feiren Technology, Lingang Financing, and Jizan Company, including investment background, amounts, and progress [2]. - Feiren Technology was established in November 2020, focusing on introducing overseas carbon fiber composite manufacturing technology to China [3]. - Lingang Financing was initially set up to provide financing through sale-leaseback arrangements but has since seen limited business volume [5]. - Jizan Company, established in April 2020, has invested in companies related to infrared thermal imaging and new energy vehicles [6]. Group 3: Investment Losses and Impairments - Jizan Company faced significant investment losses due to guarantees provided for bank loans that have since defaulted, leading to a complete halt in construction at its associated company, Taizhou Wanxiang [9]. - The company confirmed substantial investment losses in Jizan and Lingang Financing due to the involvement of a strategic investor in a criminal case, impacting their financial performance [8][9]. - The company did not recognize further impairment for long-term equity investments in 2024, as the recoverable amount of Jizan's equity was assessed to be higher than its book value [12]. Group 4: Logistics and Trade Business - The logistics business, primarily conducted through Shanghai Shensi Enterprise Development Co., generated revenues of CNY 1.165 billion, CNY 1.291 billion, and CNY 1.361 billion from 2022 to 2024, with a gross margin of around 8% [13]. - The trade business, managed by Shanghai Shenbei Import and Export Co., focuses on exporting office supplies, with revenues constituting only 0.59% of total revenue in 2024 [15]. - The company confirmed that both logistics and trade operations adhere to relevant accounting standards and do not lack commercial substance [16].

立信会计师事务所（特殊普通合伙） 关于上工申贝(集团)股份有 限公司 2024 年年度报告的信 息披露监管问询函的回复 立信会计师事务所(特殊普通合伙) DO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS 立信会计师事务所(特殊普通合伙)关于 上工申贝(集团)股份有限公司 2024年年年度报告的 信息披露监管问询函的回复 信会师函字[2025]第 ZA274 号 上海证券交易所上市公司管理一部: 贵部近日向上工申贝(集团)股份有限公司(以下简称"上工申 贝"或"公司"）发出了《关于上工申贝(集团)股份有限公司 2024 年年度报告的信息披露监管问询函》(上证公函[2025]0743 号)(以 下简称"问询函"),根据贵部出具的问询函的要求,立信会计师事务 所(特殊普通合伙)(以下简称"本所"或"我们")作为上工申贝年审 会计师,对问询函中涉及本所的有关问题向贵部回复如下: 本间询函回复所涉数据的尾数差异或不符系四舍五入所致。 问题 1、关于长期股权投资。 根据年报及前期公告,报告期末公司长期股权投资账面余额为 3.97 亿元,同比下降 15.89%,减值准备余额 ...

证券代码：600843 900924 证券简称：上工申贝 上工 B 股 公告编号：2025-023 上工申贝（集团）股份有限公司 关于上海证券交易所对公司 2024 年年度报告 信息披露监管问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上工申贝（集团）股份有限公司（以下简称"公司"）于近日收到了上海证券交易 所《关于上工申贝（集团）股份有限公司 2024 年年度报告的信息披露监管问询函》（上 证公函【2025】0743 号，以下简称《问询函》），公司对《问询函》高度重视，积极组织 相关各方对《问询函》中涉及的问题进行逐项落实。现就《问询函》中相关问题回复如 下： 问题一：关于长期股权投资。根据年报及前期公告，报告期末公司长期股权投资账 面余额为 3.97 亿元，同比下降 15.89%，减值准备余额为 1411.56 万元。其中联营企业 上海飞人科技有限公司（以下简称飞人科技）的长期股权投资账面余额 3.24 亿元，上 海临港融资租赁有限公司（以下简称临港融资）长期股权投资账面余额 4684.31 万元， 上 ...

Core Viewpoint - The company is facing significant challenges due to a sharp decline in industrial market demand, particularly affecting its German subsidiary, leading to operational losses in 2024. However, it aims to implement various strategies to stabilize operations and improve financial performance in 2025 [4][5][31]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 44.11 billion yuan, representing a year-on-year increase of 16.39% [5][21]. - The net profit attributable to shareholders was -2.44 billion yuan, a decrease of 369.16% compared to the previous year [5][21]. - The company reported a net cash flow from operating activities of 1.25 billion yuan, an increase of 200.21% year-on-year [5][21]. Group 2: Operational Challenges - The decline in orders from the automotive sector has led to significant operational losses, prompting the company to implement measures such as short-time work systems and strict cost controls [4][5][31]. - The company has focused on quality management and product innovation to enhance customer satisfaction and stabilize cash flow [5][6]. Group 3: Strategic Initiatives - The company is increasing investment in research and development, particularly in digital transformation and smart sewing systems, to stay at the forefront of industry technology [6][7]. - A new subsidiary in the U.S. has been established to participate in the bankruptcy restructuring of ICON, expanding the company's business into the production of carbon fiber lightweight aircraft [6][7]. Group 4: Future Outlook - For 2025, the company targets a revenue of 47.88 billion yuan and a net profit of 59.84 million yuan, with a basic earnings per share of 0.085 yuan [11][12]. - The company plans to implement significant restructuring measures for its loss-making German subsidiary to control costs and improve operational efficiency [12][31]. Group 5: Governance and Compliance - The company has revised several compliance and internal control systems to strengthen risk assessment and ensure adherence to regulatory requirements [7][18]. - A share buyback plan was initiated in February 2024 to maintain shareholder value, alongside a cash dividend distribution of 35.11 million yuan [7][24].

上工申贝（集团）股份有限公司 二〇二四年年度股东大会 会议资料 二〇二五年六月二十六日 上工申贝（集团）股份有限公司 2024 年年度股东大会会议议程 现场会议时间：2025 年 6 月 26 日 13:30 现场会议地点：上海市宝山区市台路 263 号申丝大厦 4 楼大会议室 会议召集人：公司董事会 会议投票方式：现场投票与网络投票相结合的方式 会议主持人：张敏董事长 会议议程： 一、宣布会议开始 二、宣读股东大会议事规则 三、审议议案 1 公司 2024 年度董事会工作报告 2 公司 2024 年度监事会工作报告 3 《公司 2024 年年度报告》全文和摘要 4 公司 2024 年度财务工作报告及 2025 年度预算指标 5 公司 2024 年度利润分配预案 6 关于公司 2025 年度银行综合授信的议案 7 关于 2025 年度为控股子公司提供担保预计的议案 8 关于 2024 年度公司兼任董事的高级管理人员薪酬的议案 9 关于支付 2024 年度审计报酬及聘任 2025 年度审计会计师事务所的议案 四、听取独立董事述职报告 五、股东发言提问环节 六、现场与会股东对各项议案进行投票表决（推选监票人和计票 ...

Meeting Information - The annual general meeting of shareholders is scheduled for June 26, 2025 [1] - The meeting will be held at 1:30 PM at the conference room on the 4th floor of Shensi Building, No. 263, Shitai Road, Baoshan District, Shanghai [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's online voting system [1][2] Voting Procedures - Shareholders can vote via the trading system or the internet voting platform, with specific time slots for voting on the day of the meeting [3][4] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [4][5] - Votes cast through different methods for the same resolution will be counted based on the first vote recorded [5] Attendance and Registration - Only shareholders registered by the close of trading on the record date are eligible to attend the meeting [6] - Registration requires specific documentation depending on whether the shareholder is an individual or a legal entity [6] Agenda Items - The meeting will review several proposals, including the payment of the 2024 audit fees and the appointment of the 2025 auditing firm [3] - Certain shareholders are required to abstain from voting due to conflicts of interest [3] Additional Information - No gifts will be distributed at the meeting, and attendees are responsible for their own travel and accommodation expenses [6] - Shareholders are encouraged to participate via online voting for safety reasons [6]

关于召开2024年年度股东大会的通知 证券代码：600843 900924 证券简称：上工申贝 上工 B 股 公告编号：2025-022 上工申贝（集团）股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 26 日13 点 30 分 召开地点：上海市宝山区市台路 263 号申丝大厦 4 楼大会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 26 日 至2025 年 6 月 26 日 2024年年度股东大会 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会 召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:0 ...

证券代码：600843 900924 证券简称：上工申贝 上工 B 股 公告编号：2025-021 上工申贝（集团）股份有限公司 关于对外投资设立公司控股子公司的公告 1、投资规模风险 本次项目公司投资金额为自筹资金 3 亿元，包括购买土地以及支付相关税费、 建设该子公司生产经营所需的厂房及配套设施、总装所需设备、软/硬件及其 他固定资产等费用。该数据为协议约定金额，具有约束力，后续子公司将根据 实际情况使用，可能存在上述资金实际使用情况不及预期导致项目投资金额不 及 3 亿元的风险。 2、经营及资金风险 本次投资介入的通航飞机制造领域技术创新、迭代非常迅速，存在技术和创新 能力不足而导致产品无法跟上市场需求，导致盈利水平提升困难的风险。由于 通航飞机属于技术密集型产品，产品技术升级需要持续不断的资金投入，截至 2025 年第一季度末，公司账面货币资金余额为 9.31 亿元（未经审计），公司 2024 年度经审计营业收入 44.11 亿元，本次投资暂时不存在资金缺口，但不排 除后续公司通过金融机构贷款等方式进行额外融资，并对项目建设进度产生影 响的可能性。本次投资预计投资金额较大，可能存在资金不能及时到位或将 ...

Core Viewpoint - The company will participate in the 2025 Shanghai-listed companies annual report collective performance briefing and the 2025 Q1 performance briefing to enhance investor understanding of its financial results and operational status [3]. Group 1: Meeting Details - The meeting is scheduled for May 15, 2025, from 15:00 to 16:30 [4]. - The location of the meeting is the Shanghai Stock Exchange Roadshow Center [5]. - The meeting will be conducted through online interaction at the Roadshow Center [6]. Group 2: Participation and Interaction - Investors can participate online during the meeting and will have the opportunity to ask questions [9]. - Questions can be submitted from May 8, 2025, to May 14, 2025, via the Roadshow Center website or the company's email [9]. - The company will address commonly asked questions during the briefing [9]. Group 3: Attendees - Key attendees from the company include Chairman and CEO Mr. Zhang Min, Independent Director Mr. Zhang Ming, CFO Mr. Zhao Lixin, and Board Secretary Mr. Wu Weijie [7].