Aerospace Nanhu Electronic Information Technology (SH:688552) Shang Hai Zheng Quan Bao·2025-05-09 21:43Core Viewpoint - The announcement details the upcoming listing and circulation of strategic placement shares for Aerospace Nanhu Electronic Information Technology Co., Ltd., which will occur on May 19, 2025, after a 24-month lock-up period [2][3][10]. Summary by Sections Stock Listing Details - The total number of shares to be listed is 2,834,199, representing 0.84% of the company's total share capital [3][10]. - The shares are part of the initial public offering (IPO) strategic placement, with a lock-up period of 24 months from the date of the company's stock listing [2][10]. Company Background - Aerospace Nanhu was approved to publicly issue 84,312,701 shares at a price of 21.17 yuan per share, raising approximately 178.49 million yuan, with a net amount of 165.66 million yuan after deducting issuance costs [12][26]. - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on May 18, 2023, with a total share capital of 337,248,000 shares [3][12]. Shareholder Commitments - The strategic placement shareholder, CITIC Jianzhong Investment Co., Ltd., has committed to a lock-up period of 24 months from the IPO date [5][6]. - As of the announcement date, the shareholder has adhered to the commitments regarding the lock-up period [6][8]. Financial Performance - In 2024, the company reported a significant decline in revenue, with total revenue of 21.78 million yuan, a decrease of 69.98% year-on-year, and a net loss of 7.82 million yuan, down 176.36% from the previous year [14][26][37]. - The decline in performance is attributed to delays in contract signings and product deliveries due to customer procurement plans and international uncertainties [26][37]. Research and Development - The company invested 9.68 million yuan in R&D in 2024, accounting for 44.44% of its revenue, indicating a focus on maintaining technological advancement despite financial challenges [27][29][33]. - The company holds 56 invention patents and 83 utility model patents, showcasing its commitment to innovation and technology [29]. Market Position and Risks - The company operates in the defense sector, primarily focusing on air defense radar systems, which are subject to high technical barriers and stringent regulatory requirements [20][30]. - The concentration of customers in the military sector poses risks related to procurement policies and market demand fluctuations [16][20].