Financial Performance - The company's operating revenue for Q1 2025 was ¥181,919,203.79, a decrease of 50.01% compared to ¥363,893,361.18 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥42,690,040.18, representing a decline of 140.08% from a profit of ¥106,519,196.15 in the previous year[5] - The basic earnings per share decreased to -¥0.0400, down 142.55% from ¥0.0940 in the previous year[5] - The company reported a 28.94% improvement in net profit attributable to shareholders after deducting non-recurring gains and losses, with a loss of ¥42,753,292.04 compared to a loss of ¥60,162,200.93 last year[5] - Net profit for the period was a loss of ¥40,470,268.81 compared to a profit of ¥100,719,059.74 in the previous period, indicating a significant downturn[27] - The total comprehensive income for the period was -40,449,500.00, compared to 100,726,538.13 in the previous period[28] Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥50,518,639.44, a significant increase of 132.42% compared to a negative cash flow of ¥155,821,199.97 last year[5] - Cash inflow from operating activities totaled 645,060,730.72, down from 1,324,318,175.97 in the previous period[29] - Cash outflow from operating activities was 594,542,091.28, compared to 1,480,139,375.94 in the previous period[30] - The ending cash and cash equivalents balance was 220,139,409.99, down from 267,189,918.30 in the previous period[30] - The company reported a decrease in cash and cash equivalents from CNY 333,694,772.83 at the beginning of the period to CNY 260,273,903.29 at the end of the period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,531,898,697.95, a decrease of 3.06% from ¥4,675,033,053.42 at the end of the previous year[5] - Total liabilities decreased to ¥3,723,099,086.35 from ¥3,854,098,751.87, reflecting a reduction of about 3.4%[24] - Non-current liabilities decreased to ¥886,840,859.80 from ¥1,028,314,973.79, a decrease of approximately 13.8%[24] - The company's total equity attributable to shareholders was ¥593,210,393.20, a slight decrease of 0.32% from ¥595,091,933.39 at the end of the previous year[5] Operating Costs and Expenses - The company experienced a 54.59% reduction in operating costs, amounting to ¥151,848,427.80, down from ¥334,383,444.87 in the previous year[8] - Total operating costs decreased to ¥220,582,375.73 from ¥425,789,150.94, a reduction of about 48%[26] - Research and development expenses decreased by 39% to ¥14,984,402.69 from ¥24,760,091.62 in the previous year, reflecting optimization of certain projects[8] - The company reported a significant increase in financial expenses, with interest expenses rising to ¥21,050,411.89 from ¥17,761,583.11, an increase of approximately 18%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 58,102[9] - The largest shareholder, Telecom Science and Technology Research Institute Co., Ltd., holds 12.86% of shares, totaling 148,862,012 shares[9] - The second-largest shareholder, Zeng Dongwei, holds 1.03% of shares, totaling 11,880,740 shares, which are pledged[9] - The company has not disclosed any relationships among the top 10 unrestricted shareholders[9] - There are no reported changes in the participation of the top 10 shareholders in margin trading activities[10] - The company has not identified any related parties among the top 10 unrestricted shareholders[9] Legal Matters - The company is currently involved in multiple lawsuits, including 21 new cases filed in April 2025, with ongoing litigation from previous cases[15] - As of now, the company has had 140,025,035.30 yuan deducted from its bank account due to court orders related to the 2022 lawsuits[14] - The company has appealed against the first-instance verdicts of the 2022 lawsuits and is awaiting the results of the ongoing retrials[13] - The company has received a total of 12 new lawsuits in 2024 that are similar to the previous 9 lawsuits filed by Changzhou Shidao Trading Co., Ltd.[12] - The company has received a total of 42 lawsuits related to disputes with Changzhou Shidao, including 9 lawsuits in 2022, 12 in 2024, and 21 in 2025[16] Regulatory and Compliance - The company plans to terminate its non-public issuance of A-shares due to non-compliance with accounting standards and information disclosure rules[18] - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[17] - The company will actively cooperate with the investigation and correct any accounting errors based on the final results[17] Inventory and Receivables - Accounts receivable decreased from CNY 661,795,026.77 to CNY 614,935,820.04 during the reporting period[22] - The company has reported a decrease in inventory from CNY 498,220,606.04 to CNY 515,545,543.10[22] Audit and Accounting Standards - The company did not undergo an audit for the first quarter report[31] - The company plans to implement new accounting standards starting in 2025[32]

Financial Performance - The company's operating revenue for 2024 was ¥1,464,239,827.17, a decrease of 75.31% compared to ¥5,930,989,702.90 in 2023[22]. - The net profit attributable to shareholders for 2024 was -¥2,290,420,358.08, representing a decline of 47.21% from -¥1,555,876,745.58 in 2023[22]. - The net profit after deducting non-recurring gains and losses was -¥1,746,463,007.59 in 2024, a decrease of 9.91% compared to -¥1,588,941,678.13 in 2023[22]. - The total assets at the end of 2024 were ¥4,675,033,053.42, down 43.68% from ¥8,300,753,010.53 at the end of 2023[22]. - The net assets attributable to shareholders decreased by 79.50% to ¥595,091,933.39 in 2024 from ¥2,902,656,186.14 in 2023[22]. - The company reported a cash flow from operating activities of -¥254,963,189.90 in 2024, an improvement of 56.49% compared to -¥586,002,906.83 in 2023[22]. - Total revenue for 2024 was ¥1,464,239,827.1, a decrease of 75.31% compared to ¥5,930,989,702.9 in 2023[101]. - Revenue from intelligent applications was ¥453,655,779.04, down 78.48% from ¥2,107,987,376.4 in 2023, accounting for 30.98% of total revenue[101]. - Intelligent services revenue increased by 100.27% to ¥517,002,721.58 from ¥258,150,755.71 in 2023, representing 35.31% of total revenue[101]. - IT sales revenue fell by 86.15% to ¥483,415,831.27 from ¥3,489,166,240.8 in 2023, making up 33.01% of total revenue[101]. - The gross margin for intelligent services was 12.71%, while the gross margin for IT sales was 3.19%, both showing significant declines compared to the previous year[105]. Legal and Regulatory Issues - The company is currently under investigation by the China Securities Regulatory Commission, with no final results available yet[6]. - Major litigation cases have increased, leading to uncertainties in business operations and potential impacts on financial performance[5]. - The independent directors have expressed concerns regarding the accuracy and completeness of the annual report due to ongoing investigations and litigation[4]. - There is an ongoing uncertainty regarding the financial data due to pending litigation outcomes and regulatory investigations[5]. - The company has faced legal issues resulting in the freezing of RMB 10,757.98 million of its funds due to a lawsuit[148]. - The company has submitted a retrial application to the Jiangsu Provincial High Court regarding the 2022 Changzhou 9 cases, which has been accepted and is currently under review[174]. - A total of 21 new lawsuits have been filed against the company, which are similar in nature to the previous 2022 and 2024 cases[176]. - The company received a notice from the China Securities Regulatory Commission on July 30, 2024, regarding an investigation for suspected violations of information disclosure laws[178]. Strategic Direction and Business Focus - The company plans to focus on smart connected ecosystems and digital transformation services as part of its strategic positioning as a "smart empowerment expert"[32]. - The company is actively involved in the development of intelligent connected vehicles, integrating advanced sensors and communication technologies to enhance safety and efficiency[15]. - The company is focusing on the digital intelligence direction to optimize its business structure, gradually reducing the scale of IT sales[71]. - The company aims to enhance its digital intelligence application and service business, continuously solidifying its industrial foundation[72]. - The company is positioned as a "digital intelligence empowerment expert," aligning with the national "2522" development strategy[72]. - The company is responding to the explosive growth in user demand for integrated, high-cost performance solutions in the digital economy era[67]. - The company is committed to optimizing the layout of its data center infrastructure to support the digital economy and emerging technologies[65]. - The company plans to divest its stake in Datang Fusion Communication Co., Ltd., selling at least 35.4 million shares at a minimum price of ¥5.75 per share[108]. Research and Development - The number of R&D personnel decreased from 549 in 2023 to 202 in 2024, a reduction of 63.21%[124]. - R&D investment amount fell from ¥194,943,901.50 in 2023 to ¥94,177,686.82 in 2024, a decrease of 51.69%[124]. - The company has capitalized R&D expenses amounting to $19,024,344.91 for the Intelligent Connected Cloud Control Platform, which is a core component of the vehicle networking ecosystem[127]. - The V2X chip project has a capitalized R&D amount of $56,664,481.03, with successful testing of MPW samples completed by the end of 2024[127]. - The company is focused on enhancing its algorithm capabilities and three-dimensional digital twin technology for urban application scenarios[117]. - The company has completed the development and release of version 3.0 of the Smart Command and Dispatch System, with a capitalized R&D amount of $1,109,765.43[128]. - The project aims to provide situational awareness and emergency decision-making capabilities through a three-terminal application model[119]. - The company is committed to continuous technological innovation and product optimization to maintain its competitive edge in the market[122]. Market Trends and Opportunities - The global C-V2X market is projected to grow from approximately $2.5 billion in 2023 to over $6 billion by 2025, with a CAGR of over 35%[32]. - The current reliance on foreign chips in the automotive industry is over 93%, indicating a significant ongoing "chip shortage" issue in China's automotive sector[35]. - The market for smart emergency solutions in 2023 is estimated to be 2.836 billion yuan, with emergency dispatch platforms accounting for approximately 1.53 billion yuan (54%)[41]. - By 2025, the overall market size of China's emergency rescue industry is expected to exceed 624.547 billion yuan, with a compound annual growth rate (CAGR) of over 10% for smart emergency dispatch systems[41]. - The company is focusing on launching a more powerful product to meet the growing demands in emergency command scenarios[119]. - The company aims to leverage advancements in AI and trusted computing technologies to develop new products and solutions for various industries[130]. Governance and Management - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board to ensure compliance with relevant laws and regulations[183]. - The company maintains complete independence from its largest shareholder in terms of business, personnel, assets, organization, and finance[186]. - The company has a complete and independent research and development support system, along with necessary facilities and non-patented technologies[186]. - The company’s board includes independent directors, ensuring governance and oversight[188]. - The company is committed to maintaining operational continuity despite the changes in its executive team[195]. - The company is preparing for the upcoming changes in its board and management to ensure a smooth transition[195]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[198]. - The company is investing heavily in R&D, with a budget allocation of $50 million for the development of new technologies and products in the upcoming year[198]. - Market expansion efforts include entering three new international markets, aiming for a 10% market share in each by the end of the next fiscal year[198]. - A new product line is set to launch in Q2 2024, anticipated to contribute an additional $30 million in revenue within the first year[198]. - The management team emphasizes a commitment to sustainability, with plans to reduce carbon emissions by 30% by 2025[198].

证券代码：000851 证券简称：ST 高鸿 公告编号：2025-042 大唐高鸿网络股份有限公司 第十届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 大唐高鸿网络股份有限公司第十届董事会第十六次会议经全体董事同意豁免会议通知期 限，于 2025 年 04 月 25 日以通讯方式召开。会议由公司董事长付景林先生主持，应到董事 7 人， 实到董事 7 人。出席会议的人数及程序符合《公司法》和本公司章程的规定，会议合法有效。 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）的《关于补选审计委员会 委员的公告》。 特此公告。 大唐高鸿网络股份有限公司董事会 2025 年 04 月 25 日 本次会议召开的时间、地点、方式符合有关法律、法规、规章和公司章程规定。 经与会董事认真审议，通过如下决议： 一、审议通过《关于豁免董事会通知期限的议案》 同意：7 票；反对：0 票；弃权：0 票 同意豁免公司第十届董事会第十六次会议通知的期限，定于 2025 年 04 月 25 日召开。 二、审议通过《关于补选审计委员会委员 ...

证券代码：000851 证券简称：ST 高鸿 公告编号：2025-040 大唐高鸿网络股份有限公司 关于股票可能被实施退市风险警示的风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 特别提示： 如公司 2024 年年报披露后，公司 2024 年度财务会计报告出现"无法表示意 见"，触及《深圳证券交易所股票上市规则》（2024 年修订）第 9.3.1 条规定情形， 公司股票将在披露 2024 年年度报告的同时，披露公司股票将被实施退市风险警示的 公告。公司股票将于公告后停牌一天，自复牌之日起，深圳证券交易所将对公司股票 实施退市风险警示。 三、其他 目前公司 2024 年年度报告审计工作正在进行，具体以公司正式披露的经审计 后的 2024 年年度报告为准。 公司所有公开披露的信息均以在选定的信息披露媒体《证券时报》、《证券日 报》和巨潮资讯网（www.cninfo.com.cn）刊载的信息为准。公司将按照相关法律法 规的规定，严格履行信息披露义务，及时做好信息披露工作。敬请广大投资者注意投 资风险。 特此公告。 大唐高鸿网络股份有限公司 根据《深圳证 ...

证券代码：000851 证券简称：ST 高鸿 公告编号：2025-039 大唐高鸿网络股份有限公司 关于重大诉讼进展的公告 4.对公司损益产生的影响：鉴于公司于 2025 年 1 月 2 日披露的《关于重大诉讼 进展的公告》（公告编号：2024-158）中关于 2022 年 9 起案件的二审判决结果，2024 年常州 12 起案件、2025 年 21 起案件可能需要与其他被告方"共同对南京庆亚贸易有 限公司不能清偿部分的 50%向常州实道商贸有限责任公司承担补充赔偿责任"，据此， 公司测算常州 42 起案件预计承担赔偿责任大约 6.92 亿元，经与年审机构沟通，因后 续 33 起常州案件与 2024 年已判决的 9 起案件属于同一类型案件，案情基本一致，因 此，计提的赔偿金额计入到 2024 年，减少 2024 年利润。 一、本次诉讼的前期公告情况 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1.案件所处的诉讼阶段：2022 年常州 9 起案件处于再审已立案及执行中止阶段， 已收到中止执行的《执行裁定书》；2024 年常州 12 起案件一审已开 ...

Financial Performance - The company reported total revenue of 146.42 million yuan for 2024, a decrease of 75% compared to the previous year[3] - The net profit attributable to shareholders was -228.27 million yuan, down 47% year-on-year[3] - The equity attributable to shareholders decreased by 79% to 60.90 million yuan[3] - The basic earnings per share were -1.97 yuan, a decrease of 43% compared to the previous year[3] Assets and Liabilities - Total assets at the end of the reporting period were 462.73 million yuan, a decline of 44% from the previous year[3] - The company expects an additional estimated liability of 32.3 million yuan from new litigation received on April 17, 2025[9] - The company plans to increase impairment provisions by 10 million yuan for assets showing signs of impairment[9] Business Challenges - The company initiated an out-of-court restructuring due to significant business impacts from debt defaults and frozen bank accounts[6] - A non-recurring loss of 370 million yuan was recognized due to ongoing litigation cases[6] - The decline in revenue was primarily attributed to debt defaults and a reduction in the scope of consolidated entities following the sale of a subsidiary[7]

Financial Performance Expectations - The company expects a net profit attributable to shareholders to be a loss between 135 million and 170 million yuan, compared to a loss of 155.59 million yuan in the same period last year [3]. - The expected operating revenue for 2024 is projected to be between 130 million and 185 million yuan, significantly down from 593.1 million yuan in the previous year [3]. - The net profit after deducting non-recurring gains and losses is anticipated to be a loss between 115 million and 145 million yuan, compared to a loss of 158.89 million yuan last year [3]. - The basic earnings per share are expected to be a loss between 1.2 yuan and 1.5 yuan, compared to a loss of 1.37 yuan per share in the previous year [3]. Reasons for Performance Decline - The decline in performance is primarily due to the freezing of major bank accounts and debt defaults, which have significantly impacted business operations and revenue [5]. - The company has recognized a non-recurring loss of 370 million yuan related to ongoing litigation, contributing to the expected profit decline [5]. Restructuring and Legal Issues - The company has initiated an out-of-court restructuring process, but there is uncertainty regarding its ability to enter pre-restructuring or restructuring procedures [8]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [9]. Financial Reporting and Compliance Risks - The financial data in the earnings forecast has not been audited, and the final figures will be disclosed in the annual report [10]. - The company faces potential delisting risks if it fails to improve its internal control effectiveness and financial reporting [7].

证券代码：000851 证券简称：ST 高鸿 公告编号：2025-036 大唐高鸿网络股份有限公司 关于公司重大诉讼的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1.案件所处的诉讼阶段：尚未一审开庭审理。 2.公司所处的当事人地位：被告。 3.涉案的金额：诉请列明的借款 580,925,748 元及逾期利息共计 333,250,679.2 元（暂算至 2024 年 12 月 9 日）以及诉讼费、保全费、保全担保费。 4.对公司损益产生的影响：预计减少 2024 年损益 3.23 亿元。 一、本次重大诉讼事项受理的基本情况 大唐高鸿网络股份有限公司（以下简称"公司"）于近日收到江苏省常州市新北 区人民法院送达的《起诉状》、《应诉通知书》、《举证通知书》等共计 21 起案件的 诉讼材料。具体情况如下： | 序号 | 案号 | | 案由 | 原告 | 被告 | 第三人 | 列明的诉请金额 （元） | | --- | --- | --- | --- | --- | --- | --- | --- | | | (2025)苏 | | | 常州实道商 ...

证券代码：000851 证券简称：ST 高鸿 公告编号：2025-037 一、预计的本期业绩情况 1.业绩预告期间：2024 年 1 月 1 日至 2024 年 12 月 31 日 2.前次业绩预告情况： 大唐高鸿网络股份有限公司（以下简称："公司"）于 2025 年 1 月 25 日披露 了《关于 2024 年度业绩预告的公告》（公告编号：2025-007），前次业绩预告具 体情况如下： | 项 目 | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的净利润 | 亏损：135,000 | 万元–170,000 | 万元 | 亏损：155,587.67 | 万元 | | 扣除非经常性损益后的净利润 | 亏损：115,000 | 万元–145,000 | 万元 | 亏损：158,894.17 | 万元 | | 基本每股收益 | 亏损：1.2 | 元/股–1.5 元/股 | | 亏损：1.37 | 元/股 | | 营业收入 | 130,000 | 万元–185,000 | 万元 | 593,098.97 | 万元 | | ...

大唐高鸿网络股份有限公司 关于累计诉讼、仲裁情况的进展公告 证券代码：000851 证券简称：ST 高鸿 公告编号：2025-035 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 大唐高鸿网络股份有限公司（以下简称"公司"）根据《深圳证券交易所股票上 市规则》等有关规定，对公司及控股子公司连续十二个月累计涉及诉讼、仲裁事项进 行了统计，公司在《证券时报》和巨潮资讯网（www.cninfo.com.cn）于 2024 年 07 月 18 日披露了《关于累计诉讼、仲裁情况的公告》（公告编号：2024-092）、2024 年 07 月 24 日披露了《关于累计诉讼、仲裁情况的进展公告》（公告编号：2024-094）、 2024 年 08 月 07 日披露了《关于新增累计诉讼、仲裁情况的公告》（公告编号：2024- 103）、2024 年 08 月 15 日披露了《关于累计诉讼、仲裁情况的进展公告》（公告编 号：2024-108）、2024 年 09 月 28 日披露了《关于累计诉讼、仲裁情况的进展公告》 （公告编号：2024-134）、2024 年 10 月 11 ...