德邦证券股份有限公司 关于深圳震有科技股份有限公司 2023 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司持续督导工作指引》等有关法律、法规的规 定，德邦证券股份有限公司（以下简称"保荐机构"、"德邦证券"）作为正在履 行深圳震有科技股份有限公司（以下简称"震有科技"、"公司"）持续督导工 作的保荐机构，对公司 2023 年 1 月 1 日至本次现场检查期间（以下简称"本持 续督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报告 如下： 一、本次现场检查的基本情况 （一）保荐机构 德邦证券股份有限公司 （三）现场检查时间 2024 年 4 月 22 日-2024 年 4 月 26 日 （四）现场检查人员 徐海平、杨启航 （五）现场检查内容 公司治理及内部控制、信息披露、独立性、与关联方的资金往来、募集资金 使用情况、关联交易、对外担保、重大对外投资、公司经营状况以及承诺履行情 况等。 （六）现场检查手段 与上市公司管理层访谈；查看上市公司主要生产经营场所；查阅公司持续督 导期间召开的历次三会文件；查阅上市公司募集资金台账、募集资金使用凭证、 募集资金专户银行对账单等资料；查阅公司 ...

Financial Performance - The company has not achieved profitability since its listing[4]. - The company reported a significant increase in revenue for the fiscal year 2023, with total revenue reaching RMB 1.5 billion, representing a year-over-year growth of 25%[14]. - The company's operating revenue for 2023 was CNY 884,409,631.39, representing a 66.10% increase compared to CNY 532,469,377.49 in 2022[31]. - The net profit attributable to shareholders for 2023 was -CNY 86,558,781.99, an improvement from -CNY 214,876,103.94 in the previous year[31]. - The basic earnings per share for 2023 was -CNY 0.4495, an improvement from -CNY 1.1129 in 2022[30]. - The net profit attributable to the parent company was -86.56 million yuan, a reduction in loss of 128.32 million yuan compared to the previous year[44]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was -92.77 million yuan, a reduction in loss of 134.40 million yuan compared to the previous year[44]. - The net cash flow from operating activities improved to -CNY 9,870,947.82 in 2023, compared to -CNY 65,040,958.95 in 2022[32]. - The weighted average return on equity improved to -9.91% in 2023 from -20.82% in 2022, reflecting better financial performance[30]. Research and Development - Research and development expenditures increased by 40% to RMB 200 million, emphasizing the commitment to innovation[14]. - R&D investment amounted to 201.19 million yuan, a year-on-year increase of 5.92%[46]. - The company added 116 authorized invention patents and 49 software copyrights in 2023[46]. - The company’s R&D expenses amounted to 176.15 million yuan, up 9.19% from the previous year[135]. - R&D investment has consistently exceeded 10% of annual revenue, indicating a strong commitment to innovation[118]. - The company holds a total of 383 patents, including 310 invention patents, and 443 software copyrights, showcasing its strong intellectual property portfolio[107]. Market Expansion and Strategy - The company has subsidiaries in multiple countries, including Japan, the Philippines, and India, indicating a broad international presence[13]. - Market expansion efforts are underway, targeting emerging markets in Southeast Asia, with plans to increase market share by 15% in these regions[14]. - The company achieved significant international expansion, securing contracts in South Asia and Southeast Asia, including projects with Indian telecom operators and Banglalink in Bangladesh[52]. - The company is exploring new market opportunities in emerging countries as part of its strategic expansion efforts[187]. - The company plans to accelerate overseas market expansion, particularly in Southeast Asia, South Asia, the Middle East, and Africa, leveraging its existing product offerings[195]. Operational Efficiency and Technology - The company aims to improve operational efficiency through the implementation of NFV technology, which is expected to reduce costs by 10%[15]. - The company is investing in 6G technology, focusing on integrating satellite communication to enhance global connectivity[15]. - The company is focusing on the development of Multi-Protocol Label Switching (MPLS) technology to facilitate high-speed and efficient data transmission across open communication networks[19]. - The implementation of Network Slicing allows the company to create multiple virtual end-to-end networks on a unified infrastructure, catering to various application types[19]. - The company is leveraging cloud computing to process vast amounts of data quickly, enhancing its network service capabilities[19]. - The company is committed to reducing terminal costs and power consumption through the implementation of Reduced Capability (RedCap) technology, facilitating broader adoption of 5G[19]. Product Development and Innovation - New product launches included the "Tian Di Yi Card," which allows users to access both terrestrial 4G/5G and satellite communication without changing their existing SIM cards[15]. - The company is actively involved in the standardization of 5G systems through the 3GPP organization[17]. - The company has developed a fully cloud-based IMS core network system that supports both 4G and 5G high-definition voice services[108]. - The company is focusing on the development of AI intelligent service platforms, with an expected total investment of CNY 1,000,000[93]. - The company is developing a new generation of GPON OLT products with a capacity of 14.4 Tbps, utilizing the J2C+ chip based on 7nm technology, expected to enter the market in 2025[97]. Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[4]. - The company has implemented a comprehensive governance structure, enhancing operational efficiency and compliance with regulatory requirements[56]. - The company did not experience significant reliance on a few customers or suppliers, with a low customer concentration and all top five suppliers being new[154][158]. - The company is at risk of continued losses if domestic and international business expansion does not meet expectations[120]. Industry Trends and Outlook - The industry is experiencing growth due to the ongoing rollout of 5G technology, which is expected to enhance economic activity and create diverse application scenarios[65]. - The communication equipment industry is transitioning from investment-driven growth to innovation-driven growth, with significant opportunities arising from Industrial 4.0, smart cities, and other emerging sectors[81]. - The market for satellite internet is rapidly developing, with potential to become a mainstream communication method, especially in remote areas[66]. - The global demand for new optical fiber broadband networks and equipment is continuously high, with a significant push towards 10G PON devices as the market evolves[76]. - The penetration rate of gigabit broadband is increasing, with a transition to 10G PON devices expected to meet rising user demands for higher speeds[77].

Financial Performance - The company's operating revenue for Q1 2024 reached ¥179,943,616.32, representing a year-on-year increase of 32.64%[5] - Net profit attributable to shareholders was ¥6,993,000.48, reflecting a growth of 46.84% compared to the same period last year[5] - Basic and diluted earnings per share were both ¥0.0363, an increase of 45.27% year-on-year[6] - Net profit for Q1 2024 was ¥3,637,735.80, compared to ¥1,495,957.33 in Q1 2023, representing a 143.5% increase[20] - The company recorded a total comprehensive income of ¥4,308,905.93 for Q1 2024, compared to ¥1,355,590.99 in Q1 2023, indicating a 217.5% increase[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,998,747,728.15, up 7.19% from the end of the previous year[6] - The company's total current assets reached RMB 1,669,776,340.41, compared to RMB 1,534,093,907.59 in the previous period, indicating an increase of about 8.8%[17] - The company's total liabilities increased to RMB 1,101,710,967.66 from RMB 974,031,745.60, marking an increase of approximately 13.1%[18] - The company's equity attributable to shareholders was RMB 834,970,110.26, up from RMB 826,343,385.89, indicating a growth of about 1.8%[18] Cash Flow - The net cash flow from operating activities was negative at -¥71,724,455.08, primarily due to increased cash payments for goods and services[5][9] - Cash inflow from operating activities was ¥406,403,227.05 in Q1 2024, significantly higher than ¥220,192,185.93 in Q1 2023, marking an 84.5% increase[23] - The net cash flow from operating activities was -$71.72 million, compared to -$3.19 million in the previous year, indicating a significant decline in operational cash generation[24] - Total cash outflow from operating activities amounted to $478.13 million, up from $223.38 million year-over-year[24] Research and Development - Research and development expenses totaled ¥46,182,213.34, accounting for 25.66% of operating revenue, a decrease of 9.18 percentage points year-on-year[6] - Research and development expenses increased to ¥45,023,249.38 in Q1 2024 from ¥38,164,339.15 in Q1 2023, a rise of 17.9%[19] Shareholder Information - The company reported a total of 12,907 common shareholders at the end of the reporting period[11] - The top shareholder, Wu Minhua, holds 16.60% of the shares, totaling 32,147,460 shares[11] Contractual and Legal Matters - The company has initiated arbitration proceedings against China Wuyi Group Co., Ltd. regarding a dispute over a contract, with the case accepted by the Chengdu Arbitration Commission[13] - The company has terminated its plan to issue A-shares to specific investors for the year 2022, withdrawing the application documents[14] Other Financial Metrics - The weighted average return on equity increased to 0.84%, up 0.32 percentage points from the previous year[6] - The company experienced a significant increase in gross profit margin compared to the previous year, contributing to the rise in net profit[9] - The company reported a decrease in financial expenses, which totaled ¥8,923,931.79 in Q1 2024, compared to ¥4,986,654.75 in Q1 2023, indicating a 78.5% increase in interest expenses[19] - The company experienced a significant increase in tax expenses, with a total of ¥2,160,010.13 in Q1 2024 compared to a tax benefit of ¥3,252,193.20 in Q1 2023[20] - The company reported a significant increase in contract liabilities, which rose to RMB 336,619,275.30 from RMB 156,683,274.68, reflecting a growth of approximately 114.5%[17]

证券代码：688418 证券简称：震有科技 公告编号：2024-015 二、会议审议情况 （一）审议并通过《关于为全资子公司融资提供反担保的议案》 本次公司为全资子公司珠海震有科技有限公司融资提供反担保是综合考虑 子公司经营发展需要而作出的，有利于支持其良性发展。债务人为公司全资子公 司，具备偿债能力，能够有效控制和防范担保风险，不存在损害公司和全体股东 利益的情形，因此同意公司为全资子公司融资提供反担保。 深圳震有科技股份有限公司 第三届监事会第二十五次会议决议公告 本公司监事会及全体监事保证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、准确性和完整性依法承担法律责任。 一、会议召开情况 深圳震有科技股份有限公司（以下简称"公司"）第三届监事会第二十五次 会议于 2024 年 3 月 27 日在公司会议室以现场结合通讯的方式召开。本次会议通 知及相关资料已于 2024 年 3 月 23 日以电子邮件的方式送达全体监事。本次会议 由监事会主席刘玲女士召集并主持，会议应出席监事 3 名，实际出席监事 3 名。 本次会议的召集、召开方式符合《公司法》等法律、法规和《公司章程》等规定。 ...

证券代码：688418 证券简称：震有科技 公告编号：2024-014 深圳震有科技股份有限公司 关于为全资子公司融资提供反担保的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 一、反担保情况概述 （一）情况概述 | 公司名称 | 珠海格力融资担保有限公司 | | --- | --- | | 公司类型 | 有限责任公司（自然人投资或控股的法人独资） | | 法定代表人 | 李文涛 | | 注册资本 | 30,000 万元人民币 | | 成立时间 | 2017-12-5 | | 注册地址 | 珠海市高新区唐家湾镇天星五路 159 号 4 栋 302 室 | | 经营范围 | 许可项目：融资担保业务。（依法须经批准的项目，经相关 部门批准后方可开展经营活动，具体经营项目以相关部门批 | | | 准文件或许可证件为准）一般项目：融资咨询服务；非融资 | | | 担保服务；票据信息咨询服务；财务咨询；以自有资金从事 | | | 投资活动；自有资金投资的资产管理服务。（除依法须经批 | | | 准的项目外，凭营业 ...

二、会议审议情况 （一）审议并通过《关于为控股子公司融资提供担保的议案》 经审核，公司为控股子公司深圳市震有智联科技有限公司（以下简称"震有 智联"）向中国工商银行股份有限公司深圳南山支行申请借款不超过人民币 1,000 万元的事项按照 50.5%的持股比例提供担保是综合考虑子公司经营发展需要而 作出的，被担保人为本公司控股子公司，资信状况良好，震有智联少数股东按其 所享有的权益提供同等比例担保，能够有效控制和防范担保风险，本次担保事宜 不会损害公司及全体股东的利益。因此，同意公司为控股子公司震有智联按照 50.5%的持股比例提供不超过人民币 505 万元的连带责任保证担保。 证券代码：688418 证券简称：震有科技 公告编号：2024-013 深圳震有科技股份有限公司 第三届监事会第二十四次会议决议公告 本公司监事会及全体监事保证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、准确性和完整性依法承担法律责任。 一、会议召开情况 深圳震有科技股份有限公司（以下简称"公司"）第三届监事会第二十四次 会议于 2024 年 3 月 15 日在公司会议室以现场结合通讯的方式召开。本次会议通 ...

证券代码：688418 证券简称：震有科技 公告编号：2024-012 深圳震有科技股份有限公司 关于为控股子公司融资提供担保的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： ●被担保人名称及关联关系：深圳市震有智联科技有限公司（以下简称"震 有智联"）系深圳震有科技股份有限公司（以下简称"公司"）的控股子公司。 ●本次担保是否有反担保：无 ●本次担保金额：公司控股子公司震有智联向中国工商银行股份有限公司深 圳南山支行申请借款不超过人民币 1,000 万元，公司为控股子公司震有智联在上 述融资事项按照 50.5%持股比例提供不超过人民币 505 万元的连带责任保证担 保。震有智联少数股东按照其对应持股比例为震有智联提供担保。截至本公告披 露日，公司为震有智联提供的担保余额为 303 万元。 ●对外担保的逾期累计数量：截至本公告披露日，公司无逾期对外担保事项。 ●特别风险提示：被担保人震有智联资产负债率超过 70%，敬请投资者注意 投资风险。 ●本次担保无需提交股东大会审议。 智联少数股东按其所享有的权益 ...

上海证券交易所文件 上证科审（再融资）〔2024〕24 号 关于终止对深圳震有科技股份有限公司 向特定对象发行股票审核的决定 深圳震有科技股份有限公司： 上海证券交易所（以下简称本所）于 2023 年 7 月 10 日依法 受理了你公司向特定对象发行股票的申请文件，并按照规定进行 了审核。 2024 年 2 月 20 日，你公司和保荐人德邦证券股份有限公司 向本所提交了《深圳震有科技股份有限公司关于撤回向特定对象 发行股票并在科创板上市申请文件的申请》和《德邦证券股份有 限公司关于撤销深圳震有科技股份有限公司向特定对象发行股 票并在科创板上市保荐工作的申请》，分别申请撤回向特定对象 发行股票的申请文件和申请撤销深圳震有科技股份有限公司向 特定对象发行股票保荐工作。根据《上海证券交易所上市公司证 券发行上市审核规则》第十九条、《上海证券交易所股票发行上 市审核规则》第六十三条的有关规定，本所决定终止对你公司向 特定对象发行股票的审核。 上海证券交易所 二〇二四年三月十三日 主题词：科创板 再融资 终止通知 上海证券交易所 2024 年 03 月 13 日印发 2 1 ─────────────── ...

证券代码：688418 证券简称：震有科技 公告编号：2024-011 2024 年 3 月 13 日，公司收到上海证券交易所出具的《关于终止对深圳震有 科技股份有限公司向特定对象发行股票审核的决定》（上证科审（再融资）〔2024〕 24 号），上海证券交易所根据《上海证券交易所上市公司证券发行上市审核规 则》第十九条、《上海证券交易所股票发行上市审核规则》第六十三条的有关规 定，决定终止对公司向特定对象发行股票的审核。 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 深圳震有科技股份有限公司（以下简称"公司"）于 2024 年 2 月 20 日召开 第三届董事会第二十七次会议、第三届监事会第二十三次会议，审议通过了《关 于终止公司 2022 年度向特定对象发行 A 股股票事项的议案》。具体内容详见公 司于 2024 年 2 月 21 日在上海证券交易所网站（www.sse.com.cn）披露的《关于 终止 2022 年度向特定对象发行 A 股股票的公告》（公告编号：2024-006）。 2024 年 2 月 20 日，公司 ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][3]. Core Viewpoints - The company has signed a significant satellite communication contract worth USD 112 million, which is expected to positively impact future performance [1]. - In 2023, the company is projected to achieve a revenue of CNY 874 million, a 64.12% increase from CNY 532 million in 2022, and a narrowed net loss of CNY 83 million compared to CNY 215 million in 2022 [1][2]. - The satellite internet sector is accelerating, with China expected to conduct around 100 space launches in 2024, marking a 50% increase in commercial launches compared to 2023 [1]. - The market for satellite internet is projected to grow significantly, with estimates suggesting it will exceed CNY 2.3 trillion in 2024 [1]. - The company is expected to benefit from increased demand for core network equipment due to the growth of satellite internet infrastructure [1]. Financial Forecasts - Revenue projections for the company are as follows: CNY 873 million in 2023, CNY 1.469 billion in 2024, and CNY 2.168 billion in 2025, reflecting growth rates of 63.9% and 47.5% respectively [2][5]. - The net profit attributable to shareholders is forecasted to be CNY -87 million in 2023, CNY 190 million in 2024, and CNY 297 million in 2025, indicating a significant recovery [2][5]. - The company’s PE ratios are projected to be 17 for 2024 and 11 for 2025 [2][5].