关于变更公司注册资本暨修订《公司章程》的公告 中科星图股份有限公司 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。 中科星图股份有限公司（以下简称"公司"）于 2024 年 10 月 15 日召开了第 二届董事会第三十六次会议，审议通过了《关于变更公司注册资本暨修订<公司 章程>的议案》，现将注册资本变更及《中科星图股份有限公司章程》（以下简称 《公司章程》）具体修订情况公告如下： 一、公司注册资本变更情况 证券代码：688568 证券简称：中科星图 公告编号：2024-045 1 除上述条款修订外，《公司章程》其他条款不变，修订后的《公司章程》于 同日在上海证券交易所网站（www.sse.com.cn）予以披露。 本次拟变更公司注册资本及修订《公司章程》事项尚需提交公司股东大会审 议，公司董事会同时提请股东大会授权公司管理层办理上述事项涉及的工商变更 登记、章程备案等相关事宜，上述变更最终以工商登记机关核准的内容为准。 特此公告。 中科星图股份有限公司董事会 2024 年 10 月 16 日 公司于 2024 年 4 月 1 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Viewpoints - The company is transitioning from a single remote sensing enterprise to a diversified group enterprise, expanding its ecological layout across various industries [1][11] - The remote sensing segment occupies a small market share within the overall geographic information market, but the downstream application market holds significant potential [1][12] - The company has established 17 subsidiaries across different verticals, with some already listed, indicating a strong focus on high-revenue subsidiaries [1][2] - Revenue projections for 2024-2026 are expected to grow significantly, with estimated revenues of 36.72 billion, 52.16 billion, and 69.83 billion yuan, representing year-on-year growth rates of 45.9%, 42.1%, and 33.9% respectively [1][2] Summary by Sections Company Overview - The company is developing a group ecosystem with a focus on vertical applications, leveraging its core remote sensing technology [1][11] - The transition to a group structure is evident in its financial performance and strategic direction [1][19] Revenue Growth - The company has seen a notable increase in its subsidiary investments, with the balance rising from 1.117 billion to 2.240 billion yuan, a growth of 200% [1][21] - Key subsidiaries contributing to revenue include Star Map Earth, which achieved 0.22 million yuan in revenue for 2024, and Zhongke Xingguang, which reported 1.98 billion yuan in revenue for 2023 [1][2] Financial Projections - The company anticipates achieving net profits of 4.66 billion, 6.39 billion, and 8.64 billion yuan for 2024-2026, with growth rates of 36.1%, 37.0%, and 35.3% respectively [1][2] - The overall revenue growth is projected to remain stable at over 40% [1][41] Market Position - The geographic information industry has matured, with growth rates declining from around 20% to approximately 10% from 2015 to 2021 [1][34] - The company’s strategy of expanding into downstream applications is seen as a more favorable choice in a mature market [1][34]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved rapid revenue growth, with a projected revenue of 35.43 billion yuan in 2024, reflecting a year-on-year growth rate of 41% [4] - The net profit is expected to reach 4.88 billion yuan in 2024, with a year-on-year growth rate of 42% [4] - The company is focusing on enhancing its cloud ecosystem and has seen significant growth in its second growth curve, with revenue from this segment reaching 21.65 million yuan [3] - The company has increased its R&D investment, with a 25.16% year-on-year growth, and has filed 53 new invention patents and 350 software copyrights [3] Financial Performance Summary - The company's total revenue for 2022 was 1.577 billion yuan, with a growth rate of 52% year-on-year, and is projected to grow to 6.919 billion yuan by 2026 [1] - The net profit for 2022 was 243 million yuan, with a growth rate of 10% year-on-year, expected to reach 962 million yuan by 2026 [1] - The earnings per share (EPS) is projected to increase from 0.63 yuan in 2024 to 1.77 yuan in 2026 [1] - The return on equity (ROE) is expected to rise from 9% in 2023 to 15% in 2026 [1] Business Growth and Strategy - The company has diversified its revenue streams, with municipal business revenue reaching 429 million yuan, a year-on-year increase of 79.98% [3] - The company is actively building its star map cloud ecosystem, which includes cloud data, cloud computing, and cloud applications [3] - The number of certified developers has increased significantly, indicating a growing user base for the company's services [3]

中信建投证券股份有限公司 关于中科星图股份有限公司 2024 年上半年度持续督导跟踪报告 2022 年 6 月，中科星图股份有限公司（以下简称"中科星图"、"公司"）向 特定对象发行 A 股股票 25,260,756 股。中信建投证券股份有限公司（以下简称 "中信建投证券"、"保荐机构"）作为中科星图股份有限公司 2021 年度向特定对 象发行 A 股股票的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证 券交易所科创板股票上市规则》《科创板上市公司持续监管办法（试行）》等相关 规定，对中科星图进行持续督导。 2024 年上半年度，中信建投证券对中科星图的持续督导工作情况总结如下： 1 序号 工作内容 持续督导情况 1 建立健全并有效执行持续督导工作制度，并针 对具体的持续督导工作制定相应的工作计划 保荐机构已建立健全并有效执行了 持续督导制度，并制定了相应的工 作计划 2 根据中国证监会相关规定，在持续督导工作开 始前，与上市公司签署持续督导协议，明确双 方在持续督导期间的权利义务，并报上海证券 交易所备案 保荐机构已与中科星图签订《持续 督导协议》，该协议明确了双方在 持续督导期间的权利和义务 3 ...

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： 会议召开时间：2024年9月13日（星期五）14:00-16:00 会议召开地点：上海证券交易所上证路演中心网络平台（网址： http://roadshow.sseinfo.com/） 会议召开方式：网络文字互动 中科星图股份有限公司（以下简称"公司"）已于 2024 年 8 月 23 日在上海 证券交易所网站（www.sse.com.cn）发布公司 2024 年半年度报告，为便于广大投 资者更全面深入地了解公司 2024 年半年度经营成果、财务状况，公司参与了由 上海证券交易所主办的 2024 年半年度软件及人工智能专场集体业绩说明会，欢 迎广大投资者积极参与。 证券代码：688568 证券简称：中科星图 公告编号：2024-043 中科星图股份有限公司 关于参加 2024 年半年度软件及人工智能专场 集体业绩说明会的公告 一、说明会类型 本次业绩说明会以网络文字互动形式召开，公司将针对 2024 年半年度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 42.00 CNY, indicating an expected return of over 10% relative to the CSI 300 index in the next six months [2][21]. Core Views - The company continues to experience rapid revenue growth, with a 52.97% increase in revenue to 1.105 billion CNY in the first half of 2024, and a significant 80.05% increase in net profit to 64 million CNY [2][4]. - The company is well-positioned to benefit from the growing demand in the satellite application industry, particularly in the context of the "14th Five-Year Plan," which anticipates a 40% growth rate in downstream market demand [9][13]. - The company is focusing on expanding its business into commercial aerospace and low-altitude economies, which are seen as strategic emerging industries [12][13]. Revenue and Profitability - In the first half of 2024, the company's gross margin was 48.01%, slightly down by 3.65 percentage points, while the net profit margin improved to 9.69%, up by 0.66 percentage points [2][4]. - The company reported a significant increase in various business segments, with notable growth in smart government revenue (4.29 billion CNY, +79.98%) and special fields (3.07 billion CNY, +50.16%) [2][9]. Cost Management and R&D - The company has successfully reduced its sales expense ratio to 9.61% and management expense ratio to 11.32%, indicating improved cost management [5]. - R&D investment increased by 25.16% to 230 million CNY, representing 20.80% of revenue, although this percentage has decreased [5][10]. Cash Flow and Receivables - The net cash flow from operating activities decreased to -517 million CNY, a reduction of 279 million CNY year-on-year, with accounts receivable increasing by 70.67% to 2.269 billion CNY [6][10]. Business Expansion and Innovation - The company is implementing a "racehorse" mechanism to enhance competitiveness across various market segments, including government, defense, meteorology, and energy [7][10]. - The second growth curve, driven by the development of the Star Map Cloud platform, achieved revenue of 21.65 million CNY, surpassing the total revenue of the previous year [10][12]. Future Projections - Revenue projections for 2024-2026 are 3.561 billion CNY, 4.901 billion CNY, and 6.618 billion CNY, with corresponding net profits of 449 million CNY, 569 million CNY, and 711 million CNY [13][20].

公司点评报告 · 计算机行业 高增,线上业务步入持续增长阶段 2024 年中报业绩点评 核心观点 ● 事件:公司发布 2024年半年度报告,2024年上半年实现营业收入 11.05 亿 元（+52.97%），归母净利润 0.64亿元（+80.05%），扣非归母净利润 0.05 亿元(-57.51%)。2024Q2实现营业收入6.86亿元(+50.93%),归母净利 润 0.62 亿元(+104.13%),扣非归母净利润 0.17 亿元(-4.72%)。 ● 各业务板块营收均增长,第二增长曲线业务步入持续增长阶段:2024H1分 行业来看,智慧政府板块营收 4.29 亿元（+79.98%）, 占比最大;特种领域 板块营收 3.07亿元(+50.16%);气象海洋板块营收 1.81 亿元(+18.57%); 航天测运控板块营收 0.81 亿元(+32.33%)；企业能源板块营收 0.68 亿元 (+38.78%);线上业务板块营收 0.22 亿元。线上业务作为第二增长曲线, 2024H1 营收超过 2023 全年,收获个人认证开发者 21,306户、企业认证开发 者 17,245户,第二增长曲线业务步入持续增长阶 ...

Investment Rating - The investment rating for the company is "Buy (Maintain)" [4] Core Insights - The company reported a revenue of 1.105 billion yuan in the first half of 2024, representing a year-on-year growth of 52.97% [6] - The net profit attributable to shareholders was 64 million yuan, up 80.05% year-on-year, while the non-recurring net profit decreased by 57.51% to 5 million yuan [6] - The gross margin was 48.01%, down 3.66 percentage points year-on-year [6] - The company is actively expanding its commercial satellite constellation and capitalizing on opportunities in the low-altitude economy [6] Financial Performance - In Q2 2024, the company achieved a revenue of 686 million yuan, a 50.93% increase year-on-year, with a net profit of 62 million yuan, up 104.13% [6] - The revenue from smart government and special fields grew significantly, with respective increases of 79.98% and 50.16% [6] - The company has established a competitive advantage in the low-altitude economy, launching the GEOVIS digital low-altitude brain product [6] Cost Management - The company effectively controlled expenses, with sales, management, and R&D expense ratios decreasing by 0.85, 1.11, and 1.97 percentage points respectively [6] - The decline in non-recurring net profit was primarily due to changes in business structure leading to a decrease in gross margin [6] Revenue and Profit Forecast - The company is projected to achieve revenues of 3.856 billion, 5.752 billion, and 8.152 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 53.28%, 49.18%, and 41.73% [7] - The net profit attributable to shareholders is expected to be 480 million, 647 million, and 870 million yuan for the same years, with growth rates of 40.25%, 34.67%, and 34.42% [7] - The earnings per share (EPS) are forecasted to be 0.88, 1.19, and 1.60 yuan for 2024, 2025, and 2026 respectively [7]

Investment Rating - The report maintains a "Buy" rating for the company [1][3]. Core Viewpoints - The company has strategically positioned itself in the low-altitude economy since 2020, leveraging its expertise in Beidou navigation, remote sensing, and big data analysis to provide comprehensive solutions for low-altitude aviation [2][14]. - The "Smart Low Altitude Brain" is the company's core product, integrating advanced technologies to ensure safe and efficient low-altitude flight operations [2][20]. - The company has established a deep partnership with Lais Information, focusing on collaborative development in low-altitude economic solutions [2][33]. Summary by Sections 1. Strategic Layout in Emerging Industries - The company entered the low-altitude economy sector in 2020, providing management systems and information services essential for low-altitude flight [14]. - It has developed a complete solution for low-altitude aviation, including airspace analysis and flight management [14]. 2. Technological Accumulation and Group Strategy - The company utilizes a group strategy to advance in the low-altitude industry, with subsidiaries focusing on various technological aspects [17]. - It has strong capabilities in satellite application services, providing data support and computational power for real-time monitoring and management of low-altitude activities [17]. 3. Core Product: Smart Low Altitude Brain - The Smart Low Altitude Brain serves as a digital foundation for low-altitude service assurance, featuring capabilities for data support, intelligent computation, and traffic management [20]. - It addresses critical issues such as airspace calculation, weather services, and electromagnetic spectrum management [27]. 4. Partnership with Lais Information - The strategic cooperation with Lais Information aims to enhance market presence and develop integrated solutions for low-altitude services [33]. 5. Profit Forecast and Investment Rating - The company is expected to achieve net profits of 4.87 billion, 6.77 billion, and 9.41 billion yuan from 2024 to 2026, with corresponding P/E ratios of 30, 22, and 16 [3][38]. - The report emphasizes the company's competitive advantages and growth potential in the digital economy and aerospace information sectors [3][38].

Business Overview - The company focuses on digital earth technology, seizing opportunities in the digital economy and aerospace information integration [2] - It aims to transform its digital earth application model from traditional offline to online, establishing a new aerospace information application ecosystem [2] - In the first half of 2024, the company achieved a main business revenue of CNY 1,104.63 million, a year-on-year increase of 52.97% [3] - The net profit attributable to shareholders was CNY 63.59 million, reflecting an 80.05% year-on-year growth [3] Strategic Development - The company is expanding its business from the downstream to the upstream of the aerospace information industry chain and from specialized fields to civilian sectors [3] - It has made significant progress in low-altitude, commercial aerospace, water conservancy, and meteorological sectors [3] - The company launched several innovative products, including GEOVIS Smart Low-altitude Brain and iWater Smart Platform, providing comprehensive solutions for government and enterprises [3] Commercial Aerospace Strategy - The company has established a comprehensive strategy for commercial satellite constellation construction and operation, completing the initial design of the "4+2" commercial aerospace industry chain layout in May 2024 [4] - It plans to build satellite constellations for electromagnetic, meteorological, remote sensing, and new computing power applications [4] - The company aims to enhance the intelligent management of large-scale constellations through the development of ground station networks and commercial satellite operation services [4] Second Growth Curve - The company is deepening digital earth technology innovation and constructing online service models for aerospace information [5] - In the first half of 2024, the second growth curve business attracted 21,306 individual developers and 17,245 enterprise developers, generating revenue of CNY 21.65 million [5] - The number of monthly active applications reached 11,412, with a historical total of 85.78 million terminal users [5]