第七届董事会第二十五次会议决议公告 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"纳思达"、"上市公司"或"公司"）第七届董 事会第二十五次会议于 2025 年 5 月 19 日以通讯的方式召开，会议通知于 2025 年 5 月 9 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，公司监事会全体成员及公司全 体高级管理人员均列席会议。会议的召开和表决程序符合《中华人民共和国公司法》《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： 一、以 9 票同意，0 票反对，0 票弃权表决结果审议并通过了《关于公司符合重大 资产重组条件的议案》 本次重大资产出售的主要内容为公司控股子公司 Ninestar Group Company Limited （以下简称 " 卖 方 " ） 向 Xerox Corporation 出售卖方直接持有的 Lexmark International II, LLC（以下简称"标的公司"）的 100%股权（以下简 ...

纳思达：拟出售美国利盟100%股权 将集中资源发展打印机自主品牌 智通财经5月19日电，纳思达(002180.SZ)发布重组报告书草案，公司拟以现金交易的方式向Xerox Corporation（施乐公司）出售其控股子公司美国利盟100%股权。本次交易完成后，上市公司不再直接 或间接持有美国利盟的股权。美国利盟的营业收入占上市公司最近一个会计年度经审计合并口径营业收 入超过60%。本次交易后，上市公司打印机业务的主营业务收入有所减少，但上市公司的子公司奔图电 子依然经营打印机业务，上市公司主营业务范围未发生变化，未来打印机业务依然是上市公司的业务重 心之一。本次交易完成后，上市公司面临的境外经营风险大幅下降，上市公司将集中资源发展打印机自 主品牌。本次交易预计构成重大资产重组。 ...

证券研究报告·A 股公司简评 计算机 核心观点 2024 年，公司营收 264.15 亿元，同比增长 9.78%；归母净利润 7.49 亿元，同比增长 112.11%；扣非归母净利润 3.53 亿元，同比 增长 105.60%。25Q1，公司营收 59.27 亿元，同比下降 5. 79%； 归母净利润 0.84 亿元，同比下降 69.64%。受益于国内信创打印 机出货持续增长，一带一路推动下海外需求旺盛，叠加公司 A 3 打 印机销量实现高速增长，预计公司 2025-2027 年营业收入分别为 156.76/193.94/237.53 亿元，同比分别变动-40.65%/23.72%/ 22.48%，归母净利润为 15.60/22.12/29.90 亿元，同比分别增长 108.28%/41.73%/35.21%，对应 PE 20/14/10 倍，维持"买入"评 级。 事件 2024 年，公司营收 264.15 亿元，同比增长 9.78%；归母净利润 7.49 亿元，同比增长 112.11%；扣非归母净利润 3.53 亿元，同比 增长 105.60%。2025 年第一季度，公司营收 59.27 亿元，同比下 降 ...

25Q1 受市场采购节奏影响经营承压，毛利率持续提高。2025 年第一季度，纳思达营收59.27 亿元，同 比下降5.79%；归母净利润0.84 亿元，同比下降69.64%；受市场采购节奏影响相对承压；毛利率则逆市 同比提升0.48pct 至31.70%；销售/管理/研发/财务费用率分别变动-0.41/-0.36/-0.04/+1.09pct，汇兑损益和 未确认融资费用增加导致财务费用提升。 分业务看，24 年打印及耗材业务平稳增长，25Q1 各业务普遍承压。 核心观点 2024 年，公司营收264.15 亿元，同比增长9.78%；归母净利润7.49 亿元，同比增长112.11%；扣非归母 净利润3.53 亿元，同比增长105.60%。25Q1，公司营收59.27 亿元，同比下降5. 79%；归母净利润0.84 亿元，同比下降69.64%。受益于国内信创打印机出货持续增长，一带一路推动下海外需求旺盛，叠加 公司A3 打印机销量实现高速增长，预计公司2025-2027 年营业收入分别为156.76/193.94/237.53 亿元， 同比分别变动-40.65%/23.72%/22.48%，归母净利润为15.60 ...

证券代码：002180 证券简称：纳思达 公告编号：2025-042 纳思达股份有限公司 关于重大资产重组事项的进展公告 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： 1、纳思达股份有限公司（以下简称"公司"或"上市公司"）本次出售的标 的资产为公司控股子公司 Ninestar Holdings Company Limited（以下简称"合资 公司"）间接持有的 Lexmark International II, LLC（以下简称"标的公司"） 100%股权。标的公司间接持有 Lexmark International, Inc.（利盟国际有限公司） 100%股权。 2、本次交易尚需按照《上市公司重大资产重组管理办法》的规定经公司董事 会及股东大会批准。 3、本次交易还需取得相关外部有权监管机构的审批、备案或登记后方能实施， 能否取得该等审批、备案或登记存在不确定性。 4、上市公司将根据后续进展情况，严格按照相关法律、法规及公司章程规定 履行相应的决策审批程序和信息披露义务，敬请广大投资者注意投资风险。 2024 年 12 月 23 日，上市公司 ...

关于公司为全资子公司提供对外担保的进展公告 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。 一、 担保情况概述 纳思达股份有限公司（以下简称"公司"）于 2024 年 12 月 3 日召开第七届 董事会第二十次会议、第七届监事会第十九次会议及于 2024 年 12 月 19 日召开 2024 年第四次临时股东大会，分别审议通过了《关于 2025 年度为全资子公司提 供担保额度预计的议案》，公司为 NINESTAR UNITY OF INTEREST INTEGRITY LIMITED（以下简称"纳思达合利信"）提供不超过 12.00 亿元的担保额度。上述 担保额度的有效期自公司2024年第四次临时股东大会审议通过之日起12个月内 有效。具体内容详见公司于 2024 年 12 月 4 日在《证券时报》《中国证券报》《证 券日报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）上披露的《关于 2025 年度为全资子公司提供担保额度预计的公告》（公告编号：2024-098）。 二、 担保进展情况 证券代码：002180 证券简称：纳思达 公告编号：2 ...

Summary of Conference Call Records Company and Industry Overview - The conference call discusses the performance and outlook of **Nasda** and its subsidiaries, including **Bentu**, **Jihai Microelectronics**, and **Lemon** in the semiconductor and printing consumables industries [2][3][4][6]. Key Points and Arguments Financial Performance - **Bentu** achieved a revenue of **4.6 billion** yuan in 2024, nearing its historical high, with a gross profit exceeding 2022 levels. However, net profit was **615 million** yuan, down from **760 million** yuan in 2022 due to increased investments in brand marketing and after-sales services [2][3][6]. - **Jihai Microelectronics** maintained revenue levels from 2023, with a non-recurring net profit of **130 million** yuan. The company is focusing on growth outside the printing industry, with R&D investments exceeding **30%** [2][3][6]. - The financial consumables business faced challenges due to U.S. sanctions but still achieved a revenue of **6.2 billion** yuan in 2024, a **10%** year-on-year increase, with a net profit of **74 million** yuan [2][3][6]. - In Q1 2025, overall revenue was approximately **6 billion** yuan, a **5%** decline year-on-year, with a significant drop in net profit to over **8 million** yuan, down **70%** [2][3][7]. Market Dynamics - The **信创** (Xinchuang) market is expected to gradually advance starting Q2 2025, with confidence in meeting annual budget targets. Growth is anticipated in sectors such as automotive and industrial control for non-printing chips, as well as in A3 and A4 printers [4][30]. - **Nasda** has made breakthroughs in radar chip localization, being the only domestic company to achieve this, with three generations of products launched for domestic automotive manufacturers [4][25][29]. Strategic Focus - The company is actively seeking growth in non-printing sectors and has seen nearly **60%** growth in non-consumable chip business year-on-year [2][3][11]. - **Lemon** reported stable Q1 revenue of over **500 million** USD, but net profit fell significantly due to inventory write-downs [10]. - **Jihai Microelectronics** experienced a **20%** decline in Q1 revenue to **250 million** yuan, with a **70%** drop in net profit, although non-consumable chip sales grew significantly [11]. Future Outlook - The company remains optimistic about future performance despite short-term challenges, with expectations of growth in the **信创** market and continued development in the automotive and industrial control sectors [4][30][31]. - The semiconductor industry is expected to see a **10%** growth in demand, particularly in public and automotive products, with some segments experiencing growth rates of **40% to 100%** [16][17]. Additional Important Insights - The company has expanded its workforce from under **500** to over **1,000** employees, indicating significant growth in scale [18]. - The introduction of new products in the printing sector, including new consumables and label printers, is planned for 2025 [20][23]. - The company is focusing on enhancing its core competencies in the semiconductor market, particularly in MCU and DSP technologies, to drive future growth [24][31]. This summary encapsulates the key financial metrics, strategic directions, and market dynamics discussed in the conference call, providing a comprehensive overview of the company's current status and future outlook.

Core Insights - Nasda (002180) reported on May 9 that its subsidiary, Jihai, has a well-established layout in humanoid robot chips [1] - Jihai's products in perception and execution components, such as ultrasonic radar chips and the first high-performance real-time control DSP chip based on the Arm Cortex-M52 processor, are applicable in both automotive and robotics sectors [1] - The company has achieved domestic substitution for various chips, including joint control and drive chips, encoder chips, cerebellum computing chips, BMS management MCUs, communication management, and power management MCUs [1] - Jihai has established partnerships with major automotive manufacturers like GAC and FAW, as well as several leading Tier 1 suppliers and key clients in the industrial control sector, such as Huichuan and Yushu [1]

Group 1: Financial Performance - In 2024, the company achieved total revenue of 26.415 billion CNY, a year-on-year increase of 9.78%, with a net profit attributable to shareholders of 749 million CNY, up 112.11% [4] - BenTu reported revenue of 4.658 billion CNY, a year-on-year growth of 19.87%, with Q4 revenue of 1.482 billion CNY, a quarter-on-quarter increase of 38.03% [4] - LiMeng International's revenue was 2.243 billion USD, reflecting a year-on-year increase of 7.98%, with printer sales up 31.13% [4] - JiHaiWei's revenue was 1.4 billion CNY, a year-on-year decrease of 1.52%, but net profit increased by 109.97% to 363 million CNY [4] - General consumables business revenue reached 6.172 billion CNY, a year-on-year increase of 10.45%, while net profit decreased by 44.17% to 74 million CNY [4] Group 2: Asset Impairment and Adjusted Profit - The company recognized an asset impairment loss totaling 900.3 million CNY, primarily for goodwill impairment, reducing the net profit attributable to the parent company by 893 million CNY [4] - Excluding long-term asset impairment impacts, the net profit attributable to shareholders was 1.549 billion CNY [4] Group 3: Q1 2025 Performance - In Q1 2025, the company reported revenue of 5.927 billion CNY, a year-on-year decline of 5.79%, with net profit attributable to shareholders down 69.64% to 84 million CNY [4] - BenTu's Q1 revenue was 999.2 million CNY, a year-on-year decrease of 3.34%, with net profit down 49.89% to 97 million CNY [4] - LiMeng's Q1 revenue was 513 million USD, a year-on-year decline of 4.85%, with net profit down 74.08% to 2.5382 million USD [4] - JiHaiWei's Q1 revenue was 254 million CNY, a year-on-year decrease of 19.72%, with net profit down 70.40% to 12 million CNY [4] - General consumables business revenue in Q1 was 1.322 billion CNY, with net profit of 16 million CNY [4] Group 4: Market Trends and Strategic Focus - The semiconductor industry has faced significant challenges, but JiHai has maintained strategic focus, rapidly capturing the mid-to-low-end MCU market [5] - The demand for mid-to-high-end products has increased, providing opportunities for the company to enter previously inaccessible markets [5] - JiHai has established a comprehensive layout in humanoid robot chips, collaborating with major automotive manufacturers and Tier 1 suppliers [5] - The domestic market for information technology is expected to grow, particularly in government sectors, with financial and energy industries anticipated to gain momentum in the latter half of the year [6]

证券代码：002180 证券简称：纳思达 公告编号：2025-039 纳思达股份有限公司 关于回购注销限制性股票的减资公告 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"）于 2025 年 4 月 11 日召开第七届董事 会第二十三次会议、第七届监事会第二十二次会议及 2025 年 5 月 8 日召开 2024 年度 股东大会，分别审议通过了《关于回购注销部分限制性股票的议案》，根据立信会计 师事务所（特殊普通合伙）出具的《关于纳思达股份有限公司限制性股票激励计划 2024 年度业绩指标完成情况鉴证报告》（信会师报字[2025]第 ZM10100 号），公司 未满足该年度业绩考核目标，以及公司股权激励对象 14 人已离职，现对首次授予的 第三个解除限售期和预留授予的第二个解除限售期已获授予但尚未解锁的限制性股 票 111.0416 万股进行回购注销处理。 本次限制性股票回购注销后，不考虑其他事项的影响，公司总 股本从 1,422,989,339 股变更为 1,421,878,923 股，公司注册资本从 1,422,989, ...