Group 1 - The company stated that its core technology is independently controllable and does not rely on technology imported from the United States [1] - The proportion of raw materials imported from the United States is minimal, and there are domestic substitutes available [1] - The company's international business primarily targets markets in Asia, South America, and Europe, with no sales in the United States, thus not affected by U.S. tariff policies [1]

证券代码：300177 证券简称：中海达 公告编号：2025-049 广州中海达卫星导航技术股份有限公司 关于公司参与设立产业投资基金的进展公告 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、公司参与设立产业基金的概述 广州中海达卫星导航技术股份有限公司（以下简称"公司"）第 四届董事会第九次会议审议通过了《关于公司全资子公司参与设立 产业投资基金的议案》，同意广州源合智创股权投资管理有限公司 （以下简称"源合智创"）与粤财私募股权投资（广东）有限公司 （曾用名：深圳前海粤财节能环保投资基金管理有限公司，以下简 称"粤财投资"或"前海粤财"）共同发起设立专注于北斗卫星导航 产业领域中的优秀企业为投资标的的产业投资基金——广州粤财源 合创业投资合伙企业（有限合伙）（以下简称"产业基金"），产业基 金的出资规模为 15,000 万元。其中，粤财投资担任产业基金的普通 合伙人、管理人和执行事务合伙人，出资 750 万元；源合智创担任 普通合伙人，出资 100 万元；公司全资子公司广州中海达投资发展 有限公司、广东粤财产业投资基金合伙企业(有限合伙)、广州市新 ...

Core Insights - The company Zhonghaidah experienced a decline of 1.04% in stock price on September 30, with a trading volume of 141 million yuan [1] - The financing buy-in amount for Zhonghaidah on the same day was 11.05 million yuan, while the financing repayment was 29.59 million yuan, resulting in a net financing outflow of 18.54 million yuan [1] - As of September 30, the total financing and securities lending balance for Zhonghaidah was 449 million yuan, with the financing balance accounting for 6.31% of the circulating market value, indicating a low level compared to the past year [1] Financing and Securities Lending - On September 30, Zhonghaidah had a financing buy-in of 11.05 million yuan, with a total financing balance of 449 million yuan [1] - The company’s securities lending showed a repayment of 3,800 shares with no shares sold, resulting in a securities lending balance of 496,200 yuan, which is above the 50th percentile of the past year [1] Company Overview - Zhonghaidah, established on June 21, 2006, and listed on February 15, 2011, is based in Guangzhou, Guangdong Province [1] - The company specializes in high-precision positioning technology, focusing on the development, manufacturing, and sales of related software and hardware products [1] - The main revenue sources for Zhonghaidah are high-precision positioning equipment and industry solutions (83.32%) and spatiotemporal data and information services (16.68%) [1] Financial Performance - For the first half of 2025, Zhonghaidah reported a revenue of 493 million yuan, reflecting a year-on-year growth of 15.39% [2] - The net profit attributable to the parent company was -23.69 million yuan, showing a year-on-year increase of 35.76% [2] Shareholder Information - As of June 30, 2025, Zhonghaidah had 74,000 shareholders, a decrease of 0.78% from the previous period [2] - The average number of circulating shares per shareholder increased by 0.79% to 8,193 shares [2] - The total cash dividends distributed by Zhonghaidah since its A-share listing amount to 102 million yuan, with no dividends paid in the last three years [3]

Core Viewpoint - The Beidou Satellite Navigation System has achieved significant development in China, transitioning from non-existence to a robust presence in various sectors, with a projected application scale of 3,743 billion yuan in 2024 and 4,417.5 billion yuan in 2025 [1][4]. Industry Definition and Application - Beidou Navigation refers to the Beidou Satellite Navigation System, China's self-developed global satellite navigation system, which has been widely applied in transportation, agriculture, forestry, fisheries, disaster prevention, electricity, and finance [2][3]. Current Development Status - The demand for Beidou navigation has been steadily increasing, with applications in various fields, including high-precision positioning and automated navigation in agriculture [3][4]. Application Scale and Structure - In 2024, the Beidou navigation application scale is expected to reach 3,743 billion yuan, with related industries at 2,638.6 billion yuan and core industries at 1,104.4 billion yuan. By 2025, these figures are projected to grow to 4,417.5 billion yuan, 3,121.4 billion yuan, and 1,296.1 billion yuan, respectively [4][6]. Industry Chain - The Beidou navigation industry chain includes satellite design, manufacturing, launching, and operation, with upstream components being critical for self-control. Key suppliers include Beidou Xingtong, Guokewai, and Haige Communication [7][8]. Competitive Landscape - The Beidou navigation industry is characterized by low concentration, with many small and medium-sized enterprises participating. Major players include Beidou Xingtong, China Satellite, and Haige Communication, with market shares of 0.87%, 0.36%, and 0.33% respectively in 2024 [10][12]. Development Trends - The international competitiveness of Beidou products is improving, transitioning from trade in surveying products to providing comprehensive solutions. New applications in smart transportation and urban management are emerging, driven by the digital economy [16][17][18].

证券之星消息，9月23日，中海达（300177）融资买入2683.12万元，融资偿还2409.82万元，融资净买入 273.3万元，融资余额4.67亿元，近3个交易日已连续净买入累计1956.53万元。 融资融券余额4.68亿元，较昨日上涨0.58%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-23 | 4.68亿 | 271.57万 | 0.58% | | 2025-09-22 | 4.65亿 | 1063.78万 | 2.34% | | 2025-09-19 | 4.54亿 | 621.53万 | 1.39% | | 2025-09-18 | 4.48亿 | 942.78万 | 2.15% | | 2025-09-17 | 4.39亿 | -1289.03万 | -2.85% | 小知识 融资融券：融资就是证券公司借钱给投资者买股票，到期将本金和利息一同还了就行，融券可以理解成 是投资者借股票来卖的意思，到期把股票还回来并支付利息。一般来说，投资者会出于看好股价而融资 买入股票，看空股价而融券卖出股票。 以 ...

Core Viewpoint - The company, Zhonghaidah (300177), is actively engaged in the technology tourism sector, providing services to large cultural tourism enterprises, museums, planning halls, science museums, and exhibition venues, focusing on the integration of culture and technology in multimedia display scenarios and cultural tourism experience products [1] Group 1 - The company's technology tourism business primarily offers content planning, creative design, construction, operation, and technical services for cultural tourism projects and venue exhibitions [1] - The aim is to create multimedia display scenarios that blend culture and technology, enhancing the overall cultural tourism experience [1]

Core Viewpoint - The company, Zhonghaidah (300177.SZ), has confirmed that its lidar and autonomous driving technologies meet the requirements for Level 3 (L3) and higher, with a comprehensive product layout in the intelligent driving sector [2]. Group 1: Lidar Technology - The company's lidar products are classified as industrial-grade and include airborne laser measurement systems, ground 3D laser scanners, vehicle-mounted 3D laser mobile measurement instruments, shipborne lidar, SLAM portable mobile measurement systems, and specialized drone platforms [2]. - These products are widely used in various fields such as terrain surveying, power inspection, mining measurement, forestry investigation, road surveying, construction measurement, and hydrology [2]. Group 2: Autonomous Driving Capabilities - The company has developed a comprehensive range of hardware and software products for intelligent driving, covering front-end antennas, positioning assemblies, inertial navigation units, and algorithm IP [2]. - The products are designed to adapt to the evolving trends of integrated domain control hardware platforms and BEV algorithm architectures, and have achieved functional safety D-level and information security capabilities [2]. - The company’s offerings essentially meet the construction requirements for high-level intelligent driving mass production projects [2]. Group 3: Collaboration Status - Currently, there is no collaboration between the company and Huawei in the intelligent driving vehicle business sector [2].

Core Viewpoint - The company has confirmed that its laser radar products are a key technology and product, utilized in various applications such as terrain surveying, power inspection, power line surveying, and riverbed morphology measurement [1] Summary by Categories Product Performance - The company has received inquiries regarding the sales performance of its laser radar products and whether its production capacity is sufficient [1] Applications - Laser radar technology is applied in multiple business areas including terrain surveying, power inspection, power line surveying, and riverbed morphology measurement [1] Communication with Investors - The company encourages investors to refer to its periodic reports for detailed information regarding its technology products [1]

Group 1: Investor Relations and Company Performance - The company has 80 affiliated companies, leading to high management costs and ongoing losses as of the 2025 mid-year report [1][2] - The company has not triggered any delisting risk warnings according to the Shenzhen Stock Exchange rules [2] - The company is focusing on optimizing its management structure and enhancing profitability through strategic adjustments [2] Group 2: Product Development and Market Position - The company has made significant advancements in intelligent driving technology, achieving D-level safety capabilities for its products [3] - New products launched in 2025 include V6 Laser RTK, L3 Pro mobile measurement system, MS100 Beidou monitoring station, and iFlow RP9 multi-frequency ADCP [4] - The company has expanded its agricultural machinery sales network, adding over 20 overseas sales channels and establishing a presence in more than 10 key agricultural countries [6] Group 3: Financial Management and Strategic Focus - The company is strategically reducing its involvement in the space data and information business to focus on high-precision positioning equipment with better cash flow [5] - Accounts receivable from the space data business have decreased, and the company is actively collecting outstanding debts [5] - Research and development investment has decreased as a percentage of revenue due to a strategic shift, but core business revenue remains stable [6] Group 4: Future Outlook and Risk Management - The company has no current plans to apply for satellite communication operation licenses, focusing instead on high-precision navigation technology [6] - The impact of IMU products on the company's 2025 performance is expected to be minimal, with small-scale deliveries currently in progress [5][6] - The company has no plans for stock buybacks or employee stock ownership programs at this time [7]

Company Overview - Zhonghaidah is a high-precision positioning technology company based in Guangzhou, China, established on June 21, 2006, and listed on February 15, 2011 [1] - The company focuses on the research, manufacturing, and sales of hardware and software products related to high-precision positioning technology, with a primary revenue composition of 83.32% from high-precision positioning equipment and industry solutions, and 16.68% from spatiotemporal data and information services [1] Financial Performance - For the first half of 2025, Zhonghaidah reported a revenue of 493 million yuan, representing a year-on-year growth of 15.39%, while the net profit attributable to shareholders was -23.69 million yuan, showing a year-on-year increase of 35.76% [2] - The company has cumulatively distributed 102 million yuan in dividends since its A-share listing, with no dividends distributed in the past three years [2] Stock Market Activity - On September 19, Zhonghaidah's stock price increased by 2.22%, reaching 10.61 yuan per share, with a trading volume of 171 million yuan and a turnover rate of 2.74%, resulting in a total market capitalization of 7.896 billion yuan [1] - Year-to-date, the stock price has decreased by 2.75%, with a 4.95% increase over the last five trading days, a 7.50% decrease over the last 20 days, and a 4.33% decrease over the last 60 days [1] Shareholder Information - As of June 30, 2025, Zhonghaidah had 74,000 shareholders, a decrease of 0.78% from the previous period, with an average of 8,193 circulating shares per shareholder, an increase of 0.79% [2] - The fourth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 2.9102 million shares, which is a decrease of 4.1982 million shares compared to the previous period [2] Industry Classification - Zhonghaidah is classified under the defense and military industry, specifically in military electronics, and is associated with concepts such as emergency management, water conservancy construction, geographic information, BeiDou navigation, and aerospace military [2]