北京市金杜（广州）律师事务所 关于 纳思达股份有限公司 注销 2019 年股票期权激励计划 预留授予部分第三个行权期已到期未行权的股票期权之 法律意见书 致：纳思达股份有限公司 北京市金杜（广州）律师事务所（以下简称"本所"或"金杜"）接受纳思达股 份有限公司（以下简称"公司"或"纳思达"）的委托，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》"）、中国证券监督管理委员会（以下简称"中国证监会"）《上市公司股 权激励管理办法》1（以下简称"《管理办法》"）、《深圳证券交易所上市公司 自律监管指南第 1 号——业务办理》等法律、行政法规、部门规章及其他规范性 文件（以下简称"法律法规"）和《纳思达股份有限公司章程》（以下简称"《公 司章程》"）、《纳思达股份有限公司 2019 年股票期权激励计划（草案）》（以 下简称"《激励计划（草案）》"）的有关规定，就公司注销 2019 年股票期权激 励计划（以下简称 "本次激励计划"或"本计划"）预留授予部分第三个行权期已 到期未行权的股票期权（以下简称"本次注销"）相关事项，出具本法律意见书。 为出具本法律意见 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,177,645,335.25, a decrease of 67.00% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of ¥44,416,110.83, representing a decline of 141.29% year-over-year[5] - The net profit after deducting non-recurring gains and losses was a loss of ¥65,354,168.35, down 211.33% from the previous year[5] - The basic earnings per share were -¥0.0312, a decline of 141.00% year-over-year[5] - The company reported a revenue of 14.504 billion yuan, a year-on-year decrease of 25.21%[14] - The net profit attributable to the parent company was -356.18 million yuan, a year-on-year decrease of 132.94%[14] - The operating profit was -69.18 million yuan, a decrease of 103.86% compared to the previous year[12] - The company experienced a significant loss of 5.16 billion yuan from the disposal of assets during the reporting period[14] - The net profit for Q3 2025 was -367,114,988.54 CNY, compared to a net profit of 1,314,200,134.56 CNY in the same period last year, representing a significant decline[34] - Operating profit for Q3 2025 was -69,179,189.82 CNY, down from 1,792,288,759.58 CNY in Q3 2024[34] - Total revenue from operating activities decreased to 14,844,577,777.54 CNY in Q3 2025, compared to 18,820,112,501.03 CNY in Q3 2024, reflecting a decline of approximately 21.5%[35] - The total comprehensive income for Q3 2025 was -253,737,529.47 CNY, compared to 1,153,391,408.26 CNY in Q3 2024[35] - Basic earnings per share for Q3 2025 were -0.2505 CNY, compared to 0.7668 CNY in the same quarter last year[35] Asset and Liability Management - The total assets at the end of Q3 2025 were ¥17,551,746,510.60, a decrease of 53.01% compared to the end of the previous year[5] - The asset-liability ratio decreased from 72% to 44% following the completion of a major asset sale[14] - Total assets decreased to CNY 17,551,746,510.60 from CNY 37,350,137,925.42, a reduction of 53.0%[29] - Total liabilities decreased to CNY 7,783,617,356.78 from CNY 27,119,892,771.36, a decline of 71.2%[29] - The company's equity attributable to shareholders decreased to CNY 9,596,424,506.21 from CNY 10,034,636,740.49, a decrease of 4.4%[31] Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥715,701,857.94, down 43.00% year-to-date[5] - Cash flow from operating activities decreased by 43.00% to 715.70 million yuan, attributed to increased payments to suppliers and reduced customer collections[12] - The cash flow from operating activities for Q3 2025 was 715,701,857.94 CNY, down from 1,255,556,074.61 CNY in the previous year, indicating a decrease of about 43%[36] - The net cash flow from investing activities for Q3 2025 was -857,076,988.24 CNY, compared to a positive cash flow of 354,374,792.23 CNY in Q3 2024[36] Asset Restructuring and Goodwill - Significant asset restructuring occurred, leading to a 55.65% decrease in accounts receivable, totaling ¥2,064,494,407.68[8] - The company’s goodwill decreased by 95.69% to ¥193,279,049.79 due to the sale of overseas subsidiaries[8] - The company completed a significant asset sale on July 1, 2025, related to the disposal of Lexmark International, Inc.[24] Business Segment Performance - The printer business revenue was 3.071 billion yuan, a year-on-year decline of 3.31%[15] - The sales volume of A3 printers increased by 55.62%, while overall printer sales decreased by 14.85%[15] - In the integrated circuit business, the revenue for the first three quarters of 2025 was 812 million RMB, a year-on-year decline of 21.76%, while the net profit was -14 million RMB, down 103.88%[16] - The total chip shipment reached 447 million units, representing a year-on-year growth of 11.18%, with non-consumable chip sales increasing by 28% to 272 million units[16] - The general consumables business reported a revenue of 3.964 billion RMB, a decrease of 2.74% year-on-year, with a net profit of -4 million RMB, down 106.88%[20] - In the automotive electronics sector, the company achieved breakthroughs in project mass production and product reputation, with multiple overseas popular vehicle projects entering mass production[19] Research and Development - Research and development expenses were CNY 982,495,659.87, a decrease of 22.8% from CNY 1,272,398,322.51 in the previous period[33] - The company launched the world's first Arm® Cortex®-M52 dual-core architecture DSP chip, R501, and developed various solutions for AI servers and home energy storage[16] - The company plans to continue expanding into humanoid robots and other niche markets such as photovoltaic cleaning robots and lawn mowing robots[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 62,222, with the largest shareholder holding 28.84%[21] - The company’s stock buyback account held 14,289,852 shares, accounting for 1.00% of the total share capital at the end of the reporting period[23]

Core Viewpoint - Nasda Co., Ltd. has appointed Mr. Wang Dongjie as the new General Manager, effective from October 13, 2025, to September 11, 2028, indicating a stable organizational structure and continuity in management [3][4]. Company Overview - Nasda is a leading domestic company in the printer and consumables industry, accelerating its "printer + chip" dual-drive strategy [3]. - The company’s subsidiary, Jihai Microelectronics, focuses on chip design and actively engages in domestic substitution [3]. Management Appointment - Mr. Wang Dongjie has extensive experience in enterprise management and chip research and development, having previously served as General Manager of Jihai Microelectronics [4]. - The appointment is expected to enhance business collaboration and strategic execution within the company [4]. Strategic Direction - Under Mr. Wang's leadership, the company aims to deepen its integration in printer systems, core chips, and supply chain management [4]. - Analysts believe this management change reflects Nasda's commitment to optimizing core business and maintaining internal governance stability, which will help the company seize opportunities in the evolving landscape of printing and semiconductor industries [4].

Core Viewpoint - Nasda announced the appointment of Mr. Wang Dongjie as the new General Manager of the company, as approved by the board of directors [2] Company Summary - The board of directors of Nasda has officially approved the hiring of Mr. Wang Dongjie as the General Manager [2]

Core Viewpoint - Nasta's stock has experienced a decline of 17.29% year-to-date, with a recent drop of 2.02% on October 14, 2023, indicating potential challenges in its market performance [1]. Financial Performance - For the first half of 2025, Nasta reported a revenue of 12.327 billion yuan, a year-on-year decrease of 3.65%, and a net profit attributable to shareholders of -312 million yuan, reflecting a significant decline of 132.02% compared to the previous period [2]. - Cumulative cash dividends since Nasta's A-share listing amount to 903 million yuan, with 169 million yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, Nasta had 60,700 shareholders, an increase of 0.91% from the previous period, with an average of 22,502 circulating shares per shareholder, a slight decrease of 0.52% [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 27.7851 million shares, an increase of 3.5603 million shares from the previous period [3].

证券代码：002180 证券简称：纳思达 公告编号：2025-079 纳思达股份有限公司 关于公司总经理调整的公告 董 事 会 二〇二五年十月十四日 纳思达股份有限公司（以下简称"公司"）于2025年10月13日召开第八届董事 会第二次会议审议通过了《关于调整公司总经理的议案》，现将相关情况公告如下： 公司董事会于近日收到孔德珠先生的辞职报告，孔德珠先生因工作调整辞去公 司总经理职务，仍继续担任公司董事。孔德珠先生辞职不会影响公司的正常生产经 营，辞职报告自送达董事会之日起生效。 孔德珠先生在担任公司总经理期间恪尽职守、认真履职、勤勉尽责，为公司稳 健发展发挥了重要作用，公司及董事会对其为公司所做出的贡献表示由衷的感谢！ 截至本公告披露日，孔德珠先生直接持有公司6,995,638股股份，间接持有公 司中长期事业合伙人计划之第一期员工持股计划436,800股股份。孔德珠先生不存 在应履行而未履行的股份锁定承诺，孔德珠先生辞去公司总经理职务后，仍继续担 任公司董事，其所持有的股份将严格遵守《公司法》《上市公司股东减持股份管理 暂行办法》《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》等 法律法规、部门 ...

第八届董事会第二次会议决议公告 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。 纳思达股份有限公司（以下简称"公司"）第八届董事会第二次会议于 2025 年 10 月 13 日以通讯方式召开紧急会议，会议通知于 2025 年 10 月 11 日以电子邮件的 方式送达各位董事，应到董事九名，实际出席会议董事九名，九名董事参与了表决。 本次会议由公司董事长汪东颖先生主持，公司高级管理人员列席了本次会议。会议 的召开和表决程序符合《公司法》《公司章程》《董事会议事规则》的有关规定， 会议审议并通过了如下议案： 以 9 票同意，0 票反对，0 票弃权的表决结果审议并通过了《关于调整公司总经 理的议案》 公司董事会于近日收到孔德珠先生的辞职报告，孔德珠先生因工作调整辞去公 司总经理职务，仍继续担任公司董事。孔德珠先生辞职不会影响公司的正常生产经 营，辞职报告自送达董事会之日起生效。 证券代码：002180 证券简称：纳思达 公告编号：2025-078 纳思达股份有限公司 根据《公司章程》相关规定，经董事长汪东颖先生提名，公司董事会提名委员 会审核，同意聘任汪栋杰先生为公 ...

Group 1 - The core point of the article is that Nasda (SZ 002180) held its eighth second board meeting on October 13, 2025, via telecommunication, where it reviewed the proposal to adjust the general manager [1] - For the first half of 2025, Nasda's revenue composition was 95.49% from the printing industry and 4.51% from the integrated circuit industry [1] - As of the report date, Nasda's market capitalization was 33.8 billion yuan [2]

Investment Rating - The report maintains a positive outlook for the computer industry, expecting a continued "scissor difference" in Q3 2025, indicating structural growth despite varying performance among companies [3][4][11]. Core Insights - The report predicts that 22% of the tracked companies will see net profit growth exceeding 50%, with notable performers including 深信服 (1528%), 卡莱特 (998%), and 新国都 (235%) [4][5]. - The report highlights a trend of cost reduction through layoffs and non-essential cost cuts, leading to improved efficiency and profitability across the industry [3][4]. - The report identifies key investment targets in various segments, including AIGC, digital economy leaders, and data innovation [3][4]. Summary by Sections Q3 2025 Performance Forecast - Among 54 tracked companies, 11 are expected to exceed 50% profit growth, while 9 will see growth between 30%-50% [4][5]. - 36% of companies are projected to have growth between 0%-30%, and 22% are expected to experience a decline [5][6]. Key Company Performances - 深信服 is projected to achieve a staggering 1528% profit growth, while 卡莱特 is expected to see 998% growth [4][5]. - Companies like 海康威视 and 金山办公 are expected to maintain stable growth rates of around 9% and 15%, respectively [8][10]. - 联想集团 is forecasted to face a significant decline of 99% in profit, indicating challenges in its operational strategy [6][10]. Investment Targets - The report categorizes investment targets into four segments: AIGC, digital economy leaders, data innovation, and AIGC computing power [3][4]. - Notable companies in the AIGC segment include 金山办公 and 道通科技, while 海光信息 and 软通动力 are highlighted in the data innovation category [3][4].

Investment Rating - The report maintains a "Recommended" rating for the industry [4] Core Insights - The report highlights the significant impact of U.S. tariffs and export controls on Chinese products, particularly in the software and hardware sectors, emphasizing the need for domestic innovation and self-reliance [1] - The Chinese government is actively promoting domestic products through favorable procurement policies, including a 20% price deduction for local products in competitive bidding [1] - The report indicates that the domestic chip industry is gaining traction, particularly in the financial sector, with major projects like the Industrial and Commercial Bank of China's procurement of Huaguang chip servers valued at approximately 3 billion yuan [1] - The report notes a substantial increase in domestic server procurement by China Unicom, with 90.1% of the servers being domestically produced, reflecting a strong trend towards localization [2] - The report anticipates a turning point for the domestic innovation industry (Xinchang) driven by supportive policies and improving performance of listed companies in the sector [2][3] Summary by Sections - **Policy Support**: The government emphasizes high-level technological self-reliance as a key development focus, aiming to enhance core technology research and innovation capabilities [2] - **Market Performance**: Several listed companies in the Xinchang sector have shown improved performance compared to the previous year, indicating a positive outlook for the industry [3] - **Investment Recommendations**: The report suggests focusing on key players in the Xinchang sector, including China Software, Dameng Data, and others, as well as leaders in specific sub-sectors like industrial software and the Harmony OS ecosystem [3]