证券代码：300627 证券简称：华测导航 公告编号：2025-039 上海华测导航技术股份有限公司 第四届董事会第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、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 上海华测导航技术股份有限公司（以下简称"公司"）第四届董事会第十五 次会议的通知于 2025 年 4 月 19 日以书面或电子邮件的形式发出，会议于 2025 年 4 月 24 日在上海市青浦区崧盈路 577 号华测时空智能产业园 C 座二楼会议室 以现场结合通讯方式召开。本次会议应出席董事 7 名，实际出席董事 7 名。本次 会议由公司董事长赵延平先生主持，公司部分监事和高级管理人员列席了本次会 议。 本次会议的召开和表决程序符合《中华人民共和国公司法》等有关法律、行 政法规、部门规章、规范性文件和《上海华测导航技术股份有限公司章程》的规 定。 二、董事会会议审议情况 经与会董事审议，以记名投票表决方式通过如下议案： 1、以 7 票同意，0 票反对，0 票弃权，审议通过关于《公司 2025 年第一季 度报告》的议案。 1 证券代码：300627 证券简称 ...

部分已授予尚未归属的限制性股票的公告 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。 上海华测导航技术股份有限公司（以下简称"华测导航"或"公司"）于2025年 4月24日召开的第四届董事会第十五次会议、第四届监事会第十五次会议审议通过了 关于《作废2023年限制性股票激励计划部分已授予尚未归属的限制性股票》的议案， 现将相关事项公告如下： 一、本次限制性股票授予已履行的决策程序和信息披露情况 1、2023年12月7日，公司召开第三届董事会第三十次会议，审议通过关于《公 司<2023年限制性股票激励计划（草案）>及其摘要》的议案、关于《公司<2023年限 制性股票激励计划实施考核管理办法>》的议案、关于《提请股东大会授权董事会办 理公司2023年限制性股票激励计划相关事项》的议案。公司独立董事就本激励计划 相关议案发表了同意的独立意见。 同日，公司召开第三届监事会第三十次会议，审议通过关于《公司<2023年限制 性股票激励计划（草案）>及其摘要》的议案、关于《公司<2023年限制性股票激励 计划实施考核管理办法>》的议案、关于《核实公司<2023年限制性股票激 ...

证券代码：300627 证券简称：华测导航 公告编号：2025-043 上海华测导航技术股份有限公司 关于公司2023年限制性股票激励计划首次授予部分 第一个归属期符合归属条件的公告 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。 重要内容提示： 上海华测导航技术股份有限公司（以下简称"公司"）于2025年4月24日召开了 第四届董事会第十五次会议和第四届监事会第十五次会议，审议通过关于《公司2023 年限制性股票激励计划首次授予部分第一个归属期符合归属条件》的议案，董事会认 为公司2023年限制性股票激励计划（以下简称"本激励计划"）首次授予部分第一个 归属期归属条件已经成就，同意按规定为符合条件的802名激励对象办理589.8760万 股第二类限制性股票归属相关事宜，现将有关事项说明如下： 一、2023 年限制性股票激励计划实施情况概要 （一）2023 年限制性股票激励计划简介 限制性股票拟归属数量：589.8760 万股，占目前公司总股本1的 1.0736%。 归属股票来源：公司向激励对象定向发行公司 A 股普通股股票。 公司分别于 2023 年 12 ...

证券代码：300627 证券简称：华测导航 公告编号：2025-042 上海华测导航技术股份有限公司 监事会关于2023年限制性股票激励计划 首次授予部分第一个归属期归属名单的核查意见 本公司及监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。 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》"）、《深圳证券交易所创业板股票上市规则》（以下简称"《上 市规则》"）、《深圳证券交易所创业板上市公司自律监管指南第1号——业务办理》 等有关法律法规、规范性文件及《上海华测导航技术股份有限公司2023年限制性股票 激励计划（草案）》、《上海华测导航技术股份有限公司章程》（以下简称"《公司 章程》"）的有关规定，上海华测导航技术股份有限公司（以下简称"公司"）监事 会对公司2023年限制性股票激励计划（以下简称"本激励计划"）首次授予部分第一 个归属期归属名单进行审核，发表核查意见如下： 公司2023年限制性股票激励计划首次授予部分第一个归属期的802名激励对象 作为 ...

国浩律师（杭州）事务所 关 于 上海华测导航技术股份有限公司 2023 年限制性股票激励计划 首次授予部分第一个归属期归属条件成就 及部分限制性股票作废事项 之 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年四月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 上海华测导航技术股份有限公司 2023 年限制性股票激励计划 首次授予部分第一个归属期归属条件成就 及部分限制性股票作废事项 之 法律意见书 致：上海华测导航技术股份有限公司 国浩律师（杭州）事务所（以下 ...

Financial Performance - The company's revenue for Q1 2025 reached ¥789,117,634.13, representing a 27.91% increase compared to ¥616,910,878.96 in the same period last year[5] - Net profit attributable to shareholders was ¥142,744,778.78, up 38.50% from ¥103,064,182.42 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥123,345,037.52, reflecting a 42.09% increase from ¥86,805,497.34 in the previous year[5] - The basic earnings per share increased to ¥0.2600, a rise of 36.91% compared to ¥0.1899 in the same period last year[5] - Total operating revenue for the current period reached ¥789.12 million, a 27.8% increase from ¥616.91 million in the previous period[23] - Net profit for the current period was ¥147.28 million, representing a 46.5% increase compared to ¥100.51 million in the previous period[24] - Basic earnings per share rose to ¥0.2600, up from ¥0.1899 in the previous period, reflecting a 37.0% increase[25] - The company reported a total comprehensive income of ¥162.74 million, up from ¥98.66 million in the previous period, marking a 64.9% increase[25] Cash Flow and Assets - The net cash flow from operating activities improved by 44.25%, reaching -¥126,808,172.24, compared to -¥227,476,446.44 in the previous year[5] - The company reported a cash balance of 1,141,380,097.44 RMB, down from 1,246,153,212.94 RMB at the beginning of the period[19] - Cash flow from operating activities showed a net outflow of ¥126.81 million, an improvement from a net outflow of ¥227.48 million in the previous period[26] - The cash and cash equivalents at the end of the period totaled ¥1,110.94 million, compared to ¥955.07 million at the end of the previous period[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 23,658[11] - The largest shareholder, Zhao Yanping, holds 20.16% of the shares, amounting to 110,787,524 shares, with 27,240,000 shares pledged[11] - The top 10 unrestricted shareholders hold a total of 63,411,709 shares, with Shanghai Taihexing Enterprise Development Partnership (Limited Partnership) being the largest shareholder[12] - Ningbo Shangyu Venture Capital Partnership (Limited Partnership) holds 29,353,831 shares, accounting for 5.34% of total shares[12] - Zhao Yanping, a significant shareholder, holds 27,696,881 shares, representing 4.46% of total shares[12] - The total number of shares held by the top 10 unrestricted shareholders amounts to 96,009,864 shares[14] - The company has a total of 83,090,643 restricted shares held by Zhao Yanping, which are subject to a lock-up period[13] - The company has released 152,310 restricted shares during the reporting period, reducing the total restricted shares to 95,857,554[14] - The company’s major shareholders include financial institutions such as China Industrial Bank and various investment funds[12] - The company has not reported any changes in the lending or borrowing of shares among the top shareholders during the reporting period[13] Liabilities and Equity - Total assets at the end of the reporting period were ¥5,048,716,195.47, a decrease of 1.48% from ¥5,124,410,823.89 at the end of the previous year[5] - The company's total equity attributable to shareholders increased by 5.01% to ¥3,693,124,928.56 from ¥3,516,956,347.39 at the end of the previous year[5] - The company's current liabilities totaled 1,145,591,520.48 RMB, down from 1,412,810,806.03 RMB at the start of the period[21] - The company’s non-current liabilities totaled 197,049,480.94 RMB, slightly up from 188,211,694.29 RMB[21] - The company’s total liabilities decreased to 1,342,641,001.42 RMB from 1,601,022,500.32 RMB, reflecting improved financial health[21] Investment and Development - The company reported a significant increase in investment income, which rose by 121.82% to ¥7,980,527.87 from ¥3,597,715.05 in the previous year[9] - Research and development expenses increased to ¥131.27 million, up 22.1% from ¥107.48 million in the previous period[23] - The company plans to implement the 2025 First Phase Restricted Stock Incentive Plan, which was approved by the board and shareholders[16] - The company completed the vesting of 369,125 shares under the 2021 Restricted Stock Incentive Plan, with 104 participants successfully vesting their shares[15] - A total of 512,700 shares were donated by a major shareholder, valued at approximately 20 million RMB, with an average price of 39.01 RMB per share[18] Sales and Revenue - The company experienced a significant increase in sales revenue from services, with cash received from sales reaching ¥719.00 million, up from ¥433.27 million in the previous period[26] - Total operating costs increased to ¥655.41 million, up 23.6% from ¥529.97 million in the previous period[23] - Investment activities generated a net cash inflow of ¥45.74 million, compared to a net outflow of ¥4.75 million in the previous period[28] Management and Strategy - The company’s management team includes several key executives with locked shares, which will be released at a rate of 25% annually during their tenure[13] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[12]

事件：公司发布2024 年年报，2024 年公司实现营业收入32.51 亿元，同比增长21.38%；实现归母净利 润5.83 亿元，同比增长29.89%。 利润贴近预告上限，稳健完成全年业绩目标，25 年目标利润增长25%。此前公司预告2024年利润区间 5.65-5.85 亿，实际归母净利润5.83 亿元，同比增长29.89%，贴近预告上限，顺利完成去年年初提出的 5.6 亿经营目标。根据公司年报（下同），提出2025 年经营目标：归母净利润达到7.3 亿元，较上年同 期增长约25%。 毛利率略升，经营质量较高。2024 年公司整体毛利率58.1%，近年毛利率整体趋势呈现缓慢提升态势， 公司积极采取采购、研发等综合降本策略，优化产品设计，自研核心元器件，实现毛利率提升。此外， 研发投入占营收比重14.4%，同比下降2.8pct，销售费用率和研发费用率基本保持稳定。 地信板块表现亮眼，贡献新增长。四大板块拆分：1) 资源与公共事业14.3 亿，yoy+26.4%；2) 建筑与基 建10.5 亿，yoy+9.0%；3)地理空间信息5.9 亿，yoy+38.4%。地信板块24年销量达5516 台，同比增长 178 ...

Investment Rating - The report maintains a "Buy" rating for the company [1]. Core Insights - The company achieved a total revenue of 3.25 billion yuan in 2024, representing a year-on-year growth of 21.38%, and a net profit attributable to shareholders of 583 million yuan, up 29.89% year-on-year [6]. - The company aims for a net profit of 730 million yuan in 2025, which is approximately a 25% increase from the previous year [6]. - The gross margin for 2024 was 58.1%, showing a gradual upward trend due to cost optimization strategies [6]. - The geographic information (Geo-information) segment showed significant growth, with a revenue increase of 38.4% year-on-year [6]. - The company is expanding its overseas business, which accounted for 28.8% of total revenue in 2024, with a high gross margin of 77.6% [6]. Financial Summary - Projected total revenue for the company is expected to reach 4.04 billion yuan in 2025, with a year-on-year growth rate of 24.4% [5]. - The net profit attributable to shareholders is forecasted to be 750 million yuan in 2025, reflecting a growth rate of 28.5% [5]. - The company's return on equity (ROE) is projected to increase to 19.2% in 2025 [5]. - The price-to-earnings (PE) ratio is expected to be 30 for 2025, indicating a favorable valuation compared to historical performance [5].

本报告导读： 资源与公共事业营收14.25 亿元（同比+26.41%），毛利率为54.71%（同比-1.85pct）；建筑与基建营收 10.53 亿元（同比+8.97%），毛利率为68.41%（同比+4.55pct）；地理空间信息营收5.89 亿元（同比 +38.44%），毛利率为53.10%（同比+6.31pct）；机器人与自动驾驶营收1.85 亿元（同比+15.53%），毛 利率为41.95%（同比-4.89pct）。2）分产品：高精度定位装备营收13.34 亿元（同比+15.02%），毛利 率为61.46%（同比+1.57pct）；系统应用及解决方案营收19.17 亿元（同比+26.24%），毛利率为55.81% （同比+0.91pct）。3）分地区：国内营收23.13 亿元（同比+18.07%），毛利率为50.24%（同 比-1.36pct）；国外营收9.38 亿元（同比+30.39%），毛利率为77.60%（同比+5.64pct）。 催化剂：自动驾驶、机器人等新兴业务需求涌现。 风险提示：海外需求不及预期；市场竞争加剧。 Q4业绩创历史新高，上调目标价，维持增持评级。公司发布2024年年报，24 年 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][10] Core Views - The company achieved a revenue of 3.251 billion yuan in 2024, representing a year-on-year growth of 21.38%. The net profit attributable to shareholders was 583 million yuan, with a year-on-year increase of 29.89% [5][8] - The company is a leading player in the domestic high-precision satellite navigation and positioning industry, with competitive advantages in various high-precision positioning navigation intelligent equipment and multi-application system solutions [8] Financial Performance Summary - Revenue Breakdown: - Resource and Public Utilities: 1.425 billion yuan, up 26.41% - Construction and Infrastructure: 1.053 billion yuan, up 8.97% - Geospatial Information: 589 million yuan, up 38.44% - Robotics and Autonomous Driving: 185 million yuan, up 15.53% [5][8] - Profitability Metrics: - Overall gross margin for the year was 58.13%, an increase of 1.07 percentage points year-on-year - Domestic market revenue was 2.313 billion yuan, up 18.07% - International market revenue was 938 million yuan, up 30.39%, with an international business gross margin of 77.60%, an increase of 5.64 percentage points year-on-year [8] Earnings Forecast - The projected earnings per share (EPS) for 2025 and 2026 are 1.35 yuan and 1.78 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 30 and 23 times [8][9]