上海市锦天城律师事务所 关于上海司南导航技术股份有限公司 调整2024年限制性股票激励计划 授予价格及授予数量及向2024年限制性股票激励计划激励 对象授予预留部分限制性股票之 法律意见书 关于上海司南导航技术股份有限公司 调整 2024 年限制性股票激励计划授予价格及授予数量及向 2024 年限制性股票激励计划激励对象授予预留部分限制性股票之 法律意见书 致：上海司南导航技术股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》 （以下简称"《管理办法》"）、《上海证券交易所科创板股票上市规则》（以 下简称"《上市规则》"）、《科创板上市公司持续监管办法（试行）》（以下 简称"《持续监管办法》"）、《科创板上市公司自律监管指南第 4 号——股权 激励信息披露》（以下简称"《披露指南》"）及其他相关法律、法规、规章和 规范性文件，上海市锦天城律师事务所接受上海司南导航技术股份有限公司（以 下简称"司南导航"或"公司"）委托，作为公司 2024 年股权激励计划的特聘 专项法律顾问，就《上海司南导航技术股份有限公司 ...

证券代码：688592 证券简称：司南导航 公告编号：2025-062 上海司南导航技术股份有限公司 第四届董事会第十六次会议决议公告 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。 一、董事会会议召开情况 上海司南导航技术股份有限公司（以下简称"司南导航"或"公司"）第四 届董事会第十六次会议通知和材料于 2025 年 11 月 22 日以电子邮件、通讯等方 式送达全体董事，本次会议于 2025 年 11 月 24 日在公司会议室以现场结合通讯 方式召开。会议由董事长王永泉先生召集并主持，会议应出席董事 9 人，实际出 席董事 9 人（其中：以通讯表决方式出席会议的人数为 5 人），部分高级管理人 员列席了会议。本次会议的召集、召开符合《中华人民共和国公司法》等法律、 法规和《公司章程》的有关规定，会议决议合法有效。 二、董事会会议审议情况 经全体董事表决，形成决议如下： 因公司实施了 2024 年度权益分派方案，根据《上市公司股权激励管理办法》、 公司《2024 年限制性股票激励计划》（以下简称"本激励计划"）等相关规定 ...

Market Overview - The communication equipment sector experienced a decline of 1.24% on November 4, with Dongtu Technology leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Notable gainers included: - Meixin Technology (code: 301577) with a closing price of 67.90, up 9.13% [1] - Nanjing Panda (code: 600775) with a closing price of 12.55, up 3.89% [1] - Lian Te Technology (code: 301205) with a closing price of 118.23, up 3.17% [1] - Significant decliners included: - Dongtu Technology (code: 300353) with a closing price of 23.53, down 6.03% [2] - Sinan Navigation (code: 688592) with a closing price of 39.07, down 4.38% [2] - Canqin Technology (code: 688182) with a closing price of 25.16, down 4.19% [2] Capital Flow - The communication equipment sector saw a net outflow of 2.988 billion yuan from institutional investors, while retail investors had a net inflow of 1.729 billion yuan [2] - The capital flow for individual stocks showed: - Xinyi Technology (code: 300502) had a net inflow of 3.27 billion yuan from institutional investors [3] - Shijia Photon (code: 688313) had a net inflow of 2.18 million yuan from institutional investors [3] - Nanjing Panda (code: 600775) had a net inflow of 84.57 million yuan from institutional investors [3]

证券代码：688592 证券简称：司南导航 公告编号：2025-060 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 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通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 13 日（星期四）15:00-16:30 - 1 - 会议召开时间：2025 年 11 月 13 日（星期四）15:00-16:30 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 6 日（星期四）至 11 月 12 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@sinognss.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 上海司南导航技术股份有限公司 关于参加 2025 年上海辖区上市公司三季报集体业绩 说明会的公告 ...

Core Viewpoint - The company, Shanghai Sinan Navigation Technology Co., Ltd., has signed a cooperation framework agreement with China-US Green Fund Management Co., Ltd. to establish a private equity investment fund focused on the navigation and surveying industry, with a total subscription scale not exceeding 300 million RMB [3][5]. Group 1: Overview of Cooperation - The cooperation aims to leverage professional investment institutions' resources for the long-term development of the company, focusing on industry chain integration and related business investments [3]. - The company plans to contribute no more than 100 million RMB, which will not exceed 50% of the total subscription scale of the fund, with the remaining funds to be raised from government and social capital [3][5]. Group 2: Fund Details - The fund, tentatively named "China-US Green Navigation Surveying Venture Capital Partnership (Limited Partnership)," will have a maximum scale of 300 million RMB, with the company contributing up to 100 million RMB [5]. - The fund will primarily invest in high-end manufacturing, professional services, and downstream applications related to the Beidou navigation and surveying industry [6]. Group 3: Fund Management and Decision-Making - The fund will be managed by China-US Green Fund, which is a qualified private fund manager registered with the Asset Management Association of China [4]. - A decision-making committee will oversee investment-related matters, requiring a 4/5 majority for resolutions to pass [8]. Group 4: Investment Objectives and Impact - The investment aligns with the company's strategic development and investment direction, aiming to accelerate the implementation of its development strategy while ensuring stable operations [10]. - The collaboration is expected to help the company identify promising projects and share potential investment returns, effectively reducing investment risks [10].

Group 1 - The company, Sinan Navigation, has repurchased shares intended for employee stock ownership plans or equity incentives, with the repurchase period ending on March 7, 2025 [2] - As of the third quarter report of 2025, the number of shares held in the repurchase account ranks among the top ten shareholders, and the company has provided remarks regarding the repurchase account situation [2]

证券代码：688592 证券简称：司南导航 公告编号：2025-059 上海司南导航技术股份有限公司关于与专业投资机 构合作投资设立基金签署合作框架协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 本合作框架协议仅为公司与中美绿色基金管理有限公司（以下简称"中 美绿色基金"）合作意向的表示，除保密条款、管辖法律和争议解决条款外， 对各方无法律约束力。具体合作内容尚未最终确定，需以最终签署的基金合 伙协议及相关法律文件为准，合作事项尚存在不确定性。 拟成立的合伙企业尚处于筹备期，面临政策风险、项目选择风险、项目 退出风险等，存在一定不确定性，存在因决策失误、宏观经济或行业环境发 生重大变化，存在再投资失败或亏损等不能实现预期收益的风险。拟设立的 基金尚需取得中国证券投资基金业协会备案，实施过程存在不确定性，存在 未能按照协议约定募集足够资金，不能成功设立或完成备案的风险。 公司将严格防范各方面的投资风险，维护公司及广大股东的利益。公司 将严格按照有关法律法规的规定，履行相应的决策程序并及时披露相关事项 的进展情况。 一、与专业投资机构合作投 ...

Core Insights - The company reported a total operating revenue of 239 million yuan for the first three quarters of 2025, representing a year-on-year increase of 22.16% [1] - The net profit attributable to shareholders of the parent company was a loss of 22.78 million yuan, which is an increase in loss of 14.91 million yuan compared to the same period last year [1] - The basic earnings per share stood at -0.29 yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥68,828,772.54, a decrease of 9.07% compared to the same period last year[3] - The total profit for the period was -¥20,005,338.93, reflecting a significant decline of 93.85% year-over-year[3] - The net profit attributable to shareholders was -¥20,059,238.44, down 97.09% compared to the previous year[3] - Basic and diluted earnings per share for the period were both -¥0.25, a decline of 56.25% compared to the same period last year[3] - Net loss for the first three quarters of 2025 was ¥22.81 million, compared to a net loss of ¥8.17 million in the same period of 2024, reflecting a significant decline in profitability[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.29, compared to -¥0.13 in the same period of 2024[23] - The company reported a total comprehensive loss of ¥23.53 million for the first three quarters of 2025, compared to a loss of ¥8.01 million in the same period of 2024[23] - The company reported a basic and diluted earnings per share of -¥0.04 for the first three quarters of 2025, compared to ¥0.17 in 2024[32] - Total comprehensive income for the first three quarters of 2025 was -¥4.25 million, compared to ¥10.66 million in 2024[32] Cash Flow - The net cash flow from operating activities was -¥66,735,223.43, a decrease of 7.39% year-to-date[3] - Cash inflow from operating activities totaled ¥348.25 million, an increase of 20.7% from ¥288.66 million in the first three quarters of 2024[24] - The net cash flow from operating activities was -66,735,223.43 RMB, compared to -62,144,935.13 RMB in the previous period, indicating a decline in operational cash flow[25] - The cash outflow from financing activities was -14,149,099.81 RMB, compared to -37,421,991.18 RMB in the previous period, showing an improvement[25] - Cash and cash equivalents at the end of the period totaled 506,053,428.06 RMB, down from 515,821,815.06 RMB[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,283,216,939.98, a decrease of 2.68% from the end of the previous year[4] - Total current assets amount to ¥1,123,514,589.65, a decrease from ¥1,186,424,316.30 at the end of 2024[16] - Total liabilities amount to ¥325,340,699.57, down from ¥346,306,120.98[17] - Total liabilities decreased to ¥359.51 million from ¥374.08 million, indicating a reduction in financial obligations[18] - The company's total liabilities decreased slightly to 340,868,556.35 RMB from 346,305,665.46 RMB[28] - The total assets amounted to 1,376,106,807.16 RMB, down from 1,386,142,481.90 RMB[28] - The company's total equity decreased to 1,035,238,250.81 RMB from 1,039,836,816.44 RMB[29] Research and Development - Research and development expenses totaled ¥22,726,743.27, accounting for 33.02% of operating revenue, an increase of 6.56 percentage points[4] - Research and development expenses rose to ¥49.12 million, up 14.5% from ¥42.78 million in the previous year[22] - Research and development expenses increased to ¥37.79 million in the first three quarters of 2025, compared to ¥34.64 million in 2024[31] - The company reported a significant increase in development expenditures to ¥47,634,577.75 from ¥39,080,964.24[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,178[12] - The largest shareholder, Wang Yongquan, holds 23,306,624 shares, representing 28.97% of total shares[12] - The company has repurchased 1,157,954 shares, accounting for 1.44% of total share capital[13] - Shareholders' equity attributable to the parent company decreased to ¥925.15 million from ¥945.88 million, reflecting a decline in retained earnings[18] Inventory and Accounts Receivable - Inventory levels rose by 46.00% to ensure adequate supply for Q4 sales, reflecting seasonal and cyclical sales patterns[9] - Inventory increased to ¥196,474,146.16 from ¥134,569,951.59[16] - The company reported a significant increase in inventory, rising to 193,576,360.66 RMB from 133,550,018.04 RMB, an increase of approximately 45%[27] - Accounts receivable decreased to ¥273,066,681.90 from ¥320,458,744.18[16] Investment Activities - Total cash inflow from investment activities was 2,017,624,639.10 RMB, up from 1,787,743,815.91 RMB, reflecting an increase of approximately 12.9%[25] - The net cash flow from investment activities was -82,096,296.33 RMB, worsening from -15,170,071.86 RMB in the previous period[25] - Investment activities generated a net cash outflow of ¥102.60 million in the first three quarters of 2025, compared to a net outflow of ¥15.79 million in 2024[34]

Core Viewpoint - The company SiNan Navigation (688592.SH) reported significant changes in its financial performance for the first half of 2025, with a notable increase in revenue but a substantial net loss [1]. Financial Performance Summary - For the first half of 2025, the company achieved operating revenue of 171 million yuan, representing a year-on-year growth of 41.82% [1]. - The net profit attributable to shareholders was -2.72 million yuan, a decrease of 218.32% compared to the previous year [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -7.65 million yuan, an increase of 11.11% year-on-year [1]. - The net cash flow from operating activities was -60.66 million yuan, an increase of 18.80% year-on-year [1]. 2024 Financial Data Summary - In 2024, the company reported operating revenue of 412.86 million yuan, a slight increase of 0.28% year-on-year [2][3]. - The net profit attributable to shareholders was -33.05 million yuan, a decrease of 179.03% compared to the previous year [4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -50.10 million yuan, a decrease of 294.21% year-on-year [4]. - The net cash flow from operating activities was 111.81 million yuan, a significant increase of 431.40% year-on-year [4]. Initial Public Offering (IPO) Details - SiNan Navigation was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 16, 2023, with an initial public offering of 15.54 million shares at a price of 50.50 yuan per share [4]. - The total amount raised from the IPO was 784.77 million yuan, with a net amount of 691.10 million yuan after deducting issuance costs [5]. - The company planned to use the raised funds for high-precision PNT technology upgrades, information system construction, marketing network development, and working capital [6].