Group 1 - The company has announced a differentiated dividend distribution plan, including a cash dividend of 0.12 RMB per share and a capital reserve increase of 3 shares for every 10 shares held [2][4][6] - The total share capital of the company is 62,160,000 shares, and the cash dividend distribution amounts to approximately 7,320,245.52 RMB (including tax) [2][10] - The company has not fully listed and circulated its strategic placement shares from the initial public offering [1][9] Group 2 - The reference price for the ex-dividend calculation is determined by the formula: (previous closing price - cash dividend) ÷ (1 + change in circulating shares ratio) [2][4] - The company will not withhold individual income tax for natural person shareholders and securities investment funds, resulting in a net cash dividend of 0.108 RMB per share after tax for certain shareholders [6][8] - The capital reserve increase is sourced from the premium generated from the company's share issuance and is not subject to tax [8][10]

Core Viewpoint - The company, Shanghai Sinan Navigation Technology Co., Ltd., is implementing a differentiated profit distribution plan for the fiscal year 2024, which includes a share buyback and specific cash dividends for shareholders [1][2][4]. Group 1: Reasons for Differentiated Profit Distribution - The company has approved a share buyback plan with a total fund not less than RMB 75 million and not exceeding RMB 75 million, with a buyback period of 12 months from the board's approval date [1]. - As of May 30, 2025, the company has completed the buyback of 1,157,954 shares, which will not participate in profit distribution, leading to a differentiated dividend distribution for 2024 [1][2]. Group 2: Details of the Differentiated Profit Distribution Plan - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares and to increase capital by converting 3 shares for every 10 shares held, without issuing additional shares [2]. - As of June 10, 2025, the total share capital is 62,160,000 shares, with 1,157,954 shares in the buyback account excluded from the profit distribution, resulting in a distribution base of 61,002,046 shares and a total cash dividend of RMB 7,320,245.52 (including tax) [2][3]. Group 3: Calculation Basis for Differentiated Profit Distribution - The differentiated profit distribution is based on the principle that shares in the buyback account do not participate in the distribution [2]. - The reference price for ex-dividend is calculated based on the closing price of RMB 44.47 per share, with the cash dividend and capital increase affecting the total share capital, which will increase to 80,460,614 shares after the distribution [3][4]. Group 4: Sponsor Institution's Verification Opinion - The sponsor institution, Minsheng Securities, has verified that the differentiated profit distribution plan complies with relevant laws and regulations, ensuring no harm to the interests of the company and all shareholders [4].

一、本次差异化权益分派的原因 民生证券股份有限公司 关于上海司南导航技术股份有限公司 2024年度差异化权益分派的核查意见 民生证券股份有限公司（以下简称"保荐机构"）作为上海司南导航技术股 份有限公司（以下简称"司南导航"、"公司"）首次公开发行股票并在科创板上 市的保荐机构，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》《上海证券交易所上市公司自律监管指引第 1 号——规范运 作》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规 定，对司南导航 2024 年度利润分配涉及的差异化权益分派事项进行了核查，具 体情况如下： 2024 年 3 月 8 日，公司召开的第三届董事会第二十三次审议通过了《关于 以集中竞价方式回购公司股份方案的议案》，同意公司通过集中竞价交易方式回 购公司已发行的部分人民币普通股股票，回购股份的资金总额人民币不低于 3,750 万元（含），不超过人民币 7,500 万元（含），回购股份价格不超过人民币 53.50 元/股（含），回购期限为公司董事会审议通过本次回购股份方案之日起 12 个月内。 1 二、本次差异化权益分派方案 根据公司于 ...

证券代码：688592 证券简称：司南导航 公告编号：2025-036 上海司南导航技术股份有限公司 2024年年度权益分派实施公告 本次利润分配及转增股本方案经公司2025 年 5 月 19 日的2024年年度股东会审 议通过。 二、 分配、转增股本方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 公司存在首发战略配售股份，首发战略配售股份未全部上市流通 是否涉及差异化分红送转：是 每股分配比例，每股转增比例 每股现金红利0.12元 每股转增0.30股 相关日期 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： | 股权登记日 | 除权（息）日 | 新增无限售条件流 | 现金红利发放日 | | --- | --- | --- | --- | | | | 通股份上市日 | | | 2025/7/8 | 2025/7/9 | 2025/7/9 | 2025/7/9 ...

Core Viewpoint - The company reported a decline in gross profit margin and net profit, with significant fluctuations in revenue and profitability across different quarters in 2024, indicating challenges in maintaining profitability amidst rising costs and competitive pressures [1][2][3]. Financial Performance - In 2024, the company achieved a gross profit margin of 48.18%, down 3.98 percentage points from 2023. Revenue in Q3 increased by 68.55% year-on-year, while net profit decreased by 19.65%. In Q4, revenue decreased by 13.24%, and net profit turned negative, decreasing by 158.81% [1][2]. - The first quarter of 2025 showed a 13.32% increase in revenue year-on-year, but net profit fell by 46.24% to -10.38 million yuan [1]. Revenue Breakdown - The company’s revenue sources include modules and data applications, geographic information applications, and intelligent driving and digital construction. The main products include high-precision GNSS boards/modules, data collection equipment, and agricultural automatic navigation systems [2][3]. - The revenue from high-precision GNSS boards/modules was 5,965.13 million yuan, down 6.08%, with a gross margin of 48.36%, down 15.62%. Data collection equipment revenue was 7,608.87 million yuan, up 17.71%, with a gross margin of 31.19%, down 6.09% [2][3]. Customer and Supplier Dynamics - The company’s major customers include various entities in emerging markets, with significant sales to Unit B, which accounted for 4.53% of total revenue in 2024. Despite lower margins, the collaboration is deemed commercially reasonable due to the large order scale [5][6]. - Sales to high-margin customers like Unit C decreased significantly, impacting the overall gross margin of high-precision GNSS boards/modules [6]. Cost Structure and Material Costs - The company faced increased material costs, particularly for high-precision GNSS boards/modules sold to Unit B, which included additional patent fees. The average material cost for these boards was 21,430.87 yuan per unit [8][9]. - The overall direct material costs for data collection equipment decreased by 5.19% in 2024, attributed to lower procurement prices for components [10][12]. Industry Comparison - The company’s gross margin of 48.18% is compared with industry peers, showing a consistent trend in margin fluctuations. The gross margin for high-precision GNSS boards/modules was 48.36%, while data collection equipment was 56.80% [14][15]. - The competitive landscape in the satellite navigation industry is intensifying, with a high degree of domestic product availability leading to price pressures [16][17]. Sales Model Adjustments - The company has adjusted its sales model, increasing the proportion of domestic distributors, which has slightly lowered the overall gross margin due to the lower margins associated with domestic sales [6][7]. - The sales of high-margin products are critical, and any decline in their sales proportion could further impact the gross margin negatively [17].

民生证券股份有限公司 关于上海司南导航技术股份有限公司 2024 年年度报告的信息披露监管问询函的回复 上海司南导航技术股份有限公司（以下简称"公司"或"司南导航"）于 2025 年 5 月 30 日收到上海证券交易所科创板公司管理部《关于上海司南导航技 术股份有限公司 2024 年年度报告的信息披露监管问询函》（上证科创公函 【2025】0185 号）（以下简称《问询函》），要求公司就问询函所涉及的问题 做出书面说明，保荐机构暨持续督导机构对所涉及的问题进行核查并发表明确 意见。收到《问询函》后，保荐机构暨持续督导机构立即组织相关部门和人员 对《问询函》所涉及的问题进行逐项核查，情况如下： 说明：除特别说明外，所有数值保留 2 位小数，若出现总数与各分项数值 之和尾数不符的情况，均为四舍五入原因造成。 鉴于涉及公司商业秘密，部分客户、供应商名称使用代称。 问题 1.关于经营业绩 年报显示，2024 年度为公司上市后首个完整会计年度，期间实现营业收入 4.13 亿元，同比基本持平；归母净利润-3,305.19 万元，由盈转亏，上年同期为 4,182.10 万元；扣非净利润-5,010.20 万元，上年同期为 ...

问题 1.关于经营业绩 年报显示，2024 年度为公司上市后首个完整会计年度，期间实现营业收入 4.13 亿元，同比基本持平；归母净利润-3,305.19 万元，由盈转亏，上年同期为 4,182.10 万元；扣非净利润-5,010.20 万元，上年同期为 2,579.82 万元，由盈转 亏。公司主营业务毛利率 48.18%，较 2023 年度同期减少 3.98 个百分点。分季 度来看，第三季度营业收入同比增长 68.55%、归母净利润同比减少 19.65%， 第四季度营业收入同比减少 13.24%、归母净利润同比减少 158.81%由盈转亏。 此外，2025年第一季度报告显示，公司营业收入同比增长 13.32%、归母净利润 同比减少 46.24%至-1,038.19 万元。分销售渠道来看，经销模式下实现的营业收 入同比增长 46.17%，占营业收入构成的比例同比提高 10.43 个百分点，毛利率 同比下降 7.14 个百分点。 请你公司：（1）结合主要客户和供应商购销情况、销售价格和数量、原材 料成本波动等因素，区分业务板块和不同产品，说明毛利率下滑的原因及合理 性、与同行业可比公司情况是否一致，以及主要产品 ...

证券代码：688592 证券简称：司南导航 公告编号：2025-035 上海司南导航技术股份有限公司 关于2024年年度报告的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 上海司南导航技术股份有限公司（以下简称"公司"或"司南导航"）于 2025 年 5 月 30 日收到上海证券交易所科创板公司管理部出具的《关于上海司南 导航技术股份有限公司 2024 年 年度报告的信息披露监管问询函》（上证科创 公函【2025】0185 号）（以下简称《问询函》），要求公司就《问询函》所涉 及的问题做出书面说明。收到《问询函》后，董事会高度重视，立即与民生证 券股份有限公司（以下简称"民生证券"）、立信会计师事务所（特殊普通合 伙）（以下简称"立信"）对《问询函》所涉及的问题进行逐项落实，并积极 回复问询事项。现将有关情况回复如下： 说明：除特别说明外，所有数值保留 2 位小数，若出现总数与各分项数值 之和尾数不符的情况，均为四舍五入原因造成。 鉴于涉及公司商业秘密，部分客户、供应商名称使用代称。 1 问题 ...

Core Viewpoint - Sihan Navigation (688592.SH) is currently facing regulatory scrutiny due to significant discrepancies in its financial disclosures, leading to a decline in its stock price and a breach of compliance with the China Securities Regulatory Commission (CSRC) [1][2]. Financial Performance - For the fiscal year 2024, Sihan Navigation reported revenue of 413 million yuan, a year-on-year increase of 0.28% [2][3]. - The company recorded a net loss attributable to shareholders of 33.05 million yuan, compared to a profit of 41.82 million yuan in the previous year, marking a decline of 179.03% [4]. - The net profit after excluding non-recurring items was a loss of 50.10 million yuan, a significant drop from a profit of 25.80 million yuan in the prior year, reflecting a decrease of 294.21% [4]. - The net cash flow from operating activities was 11.18 million yuan, a substantial improvement from a negative cash flow of 33.74 million yuan in the previous year, indicating a 431.40% increase [4]. Regulatory Issues - The company received an administrative regulatory measure from the Shanghai Securities Regulatory Bureau due to three main issues in its 2024 annual report, including improper disclosure of significant changes in asset and liability accounts, incorrect data regarding raised funds, and errors in reporting investment gains [1][2]. Stock Performance - As of June 9, the stock price of Sihan Navigation closed at 46.46 yuan, reflecting a decline of 2.48% and indicating that the stock is currently in a state of decline [1]. Future Plans - The profit distribution plan for 2024 includes a cash dividend of 1.20 yuan per 10 shares and a capital reserve conversion of 3 shares for every 10 shares held, without issuing additional shares [4].

Group 1 - Baiyunshan received drug registration certificate for Tadalafil tablets (2.5mg, 5mg) from the National Medical Products Administration, indicating its entry into the erectile dysfunction treatment market [1] - Huayin Power plans to invest approximately 1.398 billion yuan in three renewable energy projects with a total installed capacity of 230 MW [2] - GAC Group reported a 24.8% year-on-year decline in May automobile sales, with total sales of 117,700 units [3] Group 2 - Honghui Fruits and Vegetables announced a potential change in control due to share transfer negotiations, leading to a temporary suspension of its stock and convertible bonds [4] - Fuyuan Pharmaceutical's subsidiary received a drug registration certificate for Bromhexine Hydrochloride oral solution, aimed at treating respiratory diseases [5][6] - Jianghan New Materials plans to repurchase shares worth 200 million to 400 million yuan, with a maximum price of 30 yuan per share [7][8] Group 3 - Sinan Navigation received an administrative regulatory decision from the Shanghai Securities Regulatory Bureau due to multiple issues in its 2024 annual report [9][10] - Hesheng Co. received approval from the China Securities Regulatory Commission for a stock issuance to specific investors [11] - Daqin Railway reported a 1.85% year-on-year decrease in cargo transportation volume in May, totaling 32.96 million tons [13] Group 4 - Ningbo Construction's subsidiary won a design and construction project with a bid of 787 million yuan [14] - Yuehongyuan A announced the termination of a major asset restructuring plan due to failure to reach an agreement on key terms [15][16] - Mingyang Smart Energy reached a 190 million yuan repurchase agreement with Haiji New Energy [18] Group 5 - CNE Group's subsidiary plans to reduce registered capital from 430 million yuan to 330 million yuan [19] - ST Baili received an administrative penalty for failing to disclose non-operating fund occupation matters, resulting in a fine of 4 million yuan [21] - Baichuan Co. completed the repurchase of a 7.14% stake in its subsidiary for 50 million yuan [22] Group 6 - Dongrui Co. reported May sales of 155,400 pigs, generating revenue of 203 million yuan, a decrease of 8.77% month-on-month [25][26] - Pengding Holdings reported a 22.43% year-on-year increase in May consolidated revenue, totaling 2.598 billion yuan [27] - Dabeinong reported May sales of 727,600 pigs, with total revenue of 1.248 billion yuan [28] Group 7 - Lihua Co. reported a 4.77% year-on-year decrease in May chicken sales revenue, totaling 1.118 billion yuan [29][30] - Jindan Technology plans to use up to 300 million yuan of idle funds for entrusted wealth management [31] - Youxunda won a project from the State Grid worth approximately 176 million yuan [33][34] Group 8 - Shenglan Co. received approval for its convertible bond issuance from the Shenzhen Stock Exchange [35][36] - Jingfang Technology's shareholder plans to reduce holdings by up to 2% of the company's shares [37] - Shiji Information's subsidiary signed a significant contract with Marriott for cloud services [39] Group 9 - Northeast Securities' subsidiary plans to terminate its listing on the New Third Board [40] - Yaji International's supervisor is under investigation for insider trading [42][43] - Yian Technology signed a strategic cooperation framework agreement with Shenzhen Hive Interconnect Technology [44] Group 10 - Jinyu Group's subsidiary acquired a real estate project for 3.364 billion yuan [46][47] - Kaiweite's major shareholder plans to reduce holdings by up to 3% of the company's shares [48] - Ningbo Energy's subsidiary plans to publicly transfer fixed assets valued at approximately 17.4372 million yuan [49]