证券代码：688592 证券简称：司南导航 公告编号：2026-004 上海司南导航技术股份有限公司 2025年度业绩快报公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性依法承担法律责任。 本公告所载2025年年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以上海司南导 航技术股份有限公司（以下简称"公司"）2025年年度的定期报告为准，提请投资者注意投资风险。 公司2025年度实现营业收入53,064.28万元，同比增长28.53%；实现营业利润1,426.48万元，实现利润总 额1,381.01万元，实现归属于母公司所有者的净利润1,460.13万元，实现归属于母公司所有者的扣除非经 常性损益的净利润-1,057.10万元，与去年同期相比大幅改善。公司实现整体扭亏为盈，但扣除非经常性 损益后仍为亏损。 公司2025年末总资产129,529.01万元，较报告期初减少1.76%；归属于母公司的所有者权益94,206.06万 元，较报告期初减少0.40%。 一、2025年度主要财务数据和指标 单位：人民币万元、万股 ■ 注：1 ...

本文转自【科技日报】； 上海交通大学2月25日发布消息称，美国导航学会（ION）近日正式公布2025年度早期成就奖，该校航 空航天学院杨溶副教授获奖，成为该奖设立近三十年来亚洲第三位、中国内地第二位获此殊荣的学者。 该奖全球每年只授予一人，旨在表彰对定位、导航与授时（PNT）技术发展产生显著影响的青年科技人 才。 杨溶出生于1986年，2019年加入上海交通大学航空航天学院，目前为该院长聘教轨副教授、博导，其团 队长期深耕航宇与交通中的核心导航问题，主攻业界痛点问题：复杂城市环境下的高精度、高可信导 航。 她主持并参与了国家自然科学基金等多项国家级项目。相关技术已申请国内外专利10余项，并成功应用 于我国航空航天及民航安全领域。其主导开发的GPS/北斗导航服务性能监测评估系统，可实时监测机 场区域电离层活动及导航信号完好性，已部署于上海浦东国际机场，为超大型国际航空枢纽的安全运行 提供了关键技术支撑。 目前，杨溶副教授所在的团队正将其在复杂环境导航领域的基础研究成果，拓展至低空经济城市空中交 通方向，致力于为无人机、电动垂直起降飞行器在城市峡谷中的安全可靠运行提供新一代导航解决方 案。 来源：上海交通大学、长 ...

Performance Forecast - The company expects to achieve a net profit attributable to shareholders of the parent company between 11 million and 15 million yuan for the year 2025, marking a turnaround from a loss in the previous year [5][8] - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -14 million and -10 million yuan [5][8] - The performance forecast is based on preliminary calculations by the finance department and has not been audited by a registered accountant [5][8] Previous Year Performance - The total profit for the previous year was -34.32 million yuan [5] - The net profit attributable to shareholders of the parent company for the previous year was -33.05 million yuan [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -50.10 million yuan [3] - The earnings per share for the previous year was -0.42 yuan [4] Reasons for Performance Change - The company anticipates a revenue increase of approximately 29.24%, with projected revenue for 2025 around 534 million yuan, driven by the conversion of R&D achievements and expansion into overseas markets [5] - Non-recurring gains and losses are expected to increase to about 25 million yuan, an increase of approximately 8 million yuan from the previous year, primarily due to government subsidies [6] - Credit impairment losses are expected to decrease by approximately 10 million yuan compared to the previous year [6]

Core Viewpoint - The company has announced a share reduction plan involving several executives, which is in compliance with relevant regulations and previous commitments made by the shareholders [2][7][9]. Group 1: Share Reduction Plans - Employee director Wang Jianru plans to reduce her holdings by 5,046 shares, representing 0.0009% of the total share capital [2]. - Vice President and CFO Zhang Zhichao intends to reduce his holdings by 15,000 shares, accounting for 0.0028% of the total share capital [2]. - Vice President Huang Lei plans to reduce his holdings by 12,604 shares, which is 0.0023% of the total share capital [2]. - Vice President Li Yang intends to reduce his holdings by 17,588 shares, representing 0.0032% of the total share capital [2]. - Vice President Yao Wenjie plans to reduce his holdings by 15,000 shares, which is 0.0028% of the total share capital [3]. Group 2: Compliance and Commitments - The shareholders involved in the reduction have committed to not transferring more than 25% of their total holdings annually while serving as directors or senior management, and they cannot transfer shares within six months after leaving the company [7]. - The planned reductions are consistent with previously disclosed intentions and commitments by the shareholders [7]. - The shareholders do not fall under any prohibitive conditions as outlined in the Shenzhen Stock Exchange's regulations regarding share reductions by major shareholders and executives [8].

Group 1 - The company's stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days (December 24, 25, and 26, 2025) [2] - The company conducted an internal review and found no need to correct or supplement previously disclosed information [3] - The company's production and operational conditions remain normal, with no significant changes in the internal or external business environment [4] Group 2 - The company and its major shareholders did not engage in buying or selling the company's stock during the period of abnormal price fluctuation [5][6] - The board confirmed that there are no undisclosed significant matters that should have been disclosed according to the Shenzhen Stock Exchange regulations [8]

Group 1 - The core viewpoint of the news is that Beijing Ligong Navigation Control Technology Co., Ltd. has seen a stock price increase of 5.22%, reaching 58.02 CNY per share, with a total market capitalization of 5.106 billion CNY as of October 24 [1] - The company specializes in the research, production, and sales of inertial navigation systems and their core components, with 99.63% of its revenue coming from product sales [1] - The company was established on February 24, 2012, and went public on March 18, 2022 [1] Group 2 - Among the top ten circulating shareholders of Ligong Navigation, a fund under China Europe Fund, specifically the China Europe High-end Equipment Stock Initiation A (016847), has entered the list, holding 500,000 shares, which is 1.37% of the circulating shares [2] - The fund has achieved a year-to-date return of 22.92% and a one-year return of 11.96%, ranking 2222 out of 4218 and 3012 out of 3875 in its category, respectively [2] Group 3 - The fund manager of China Europe High-end Equipment Stock Initiation A is Li Shuai, who has a tenure of 10 years and 93 days, with the fund's total asset size at 4.618 billion CNY [3] - During his tenure, the best fund return was 101.5%, while the worst was -29.68% [3]

Core Points - The stock price of Beijing Ligong Navigation Control Technology Co., Ltd. has dropped by 5.09% on October 23, reaching 54.82 yuan per share, with a total market capitalization of 4.824 billion yuan [1] - The company has experienced a continuous decline for four consecutive days, with a cumulative drop of 5.96% during this period [1] - The main business of the company includes the research, development, production, and sales of inertial navigation systems and their core components, with product sales accounting for 99.63% of total revenue [1] Shareholder Information - In the top ten circulating shareholders of Ligong Navigation, a fund under Invesco Great Wall, specifically the Invesco Great Wall Research Selected Stock A (000688), has entered the list, holding 338,400 shares, which is 0.93% of the circulating shares [2] - The fund has incurred a floating loss of approximately 994,900 yuan today, with a total floating loss of 1,238,500 yuan during the four-day decline [2] - The Invesco Great Wall Research Selected Stock A fund has achieved a year-to-date return of 56.34% and a one-year return of 59.32% [2] Fund Management - The fund manager of Invesco Great Wall Research Selected Stock A is Jiang Shan, who has been in the position for 4 years and 73 days [3] - The total asset size of the fund is 10.811 billion yuan, with the best return during Jiang Shan's tenure being 184.86% [3]

Core Insights - The company reported a revenue of 2.618 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 15.47% [2] - The net profit attributable to shareholders reached 493 million yuan, an increase of 26.41% compared to the same period last year [2] - The net profit excluding non-recurring items was 453 million yuan, with a year-on-year growth of 32.49% [2] Financial Performance - In Q3 2025, the company achieved a revenue of 785 million yuan, showing a slight increase of 0.19% year-on-year [2] - The net profit attributable to shareholders for Q3 was 166 million yuan, reflecting a year-on-year growth of 20% [2] - The net profit after excluding non-recurring items for Q3 was 154 million yuan, up 17.47% year-on-year [2] Asset and Equity Structure - As of the end of the reporting period, total assets reached 5.347 billion yuan, a growth of 4.34% from the end of the previous year [2] - Shareholders' equity attributable to the company was 3.98 billion yuan, increasing by 13.18% compared to the end of last year [2] - The company's asset-liability structure has continued to improve [2] Cash Flow and Management - The net cash flow from operating activities for the first three quarters was 51.51 million yuan, a significant improvement from -50.95 million yuan in the same period last year, representing a year-on-year increase of 201.11% [2] - This improvement is primarily attributed to enhanced management of accounts receivable and better collection performance [2] Significant Changes in Financial Items - Accounts receivable increased by 36.20% year-on-year, mainly due to the expansion of revenue scale [3] - Other non-current financial assets grew by 151.32%, resulting from new external investments [3] - Deferred income rose by 43.67%, attributed to an increase in government subsidies received [3] Profit and Expense Changes - Financial expenses decreased by 500.13% year-on-year, mainly due to increased foreign exchange gains [3] - Investment income fell by 47.85%, due to one-time gains from the disposal of subsidiaries in the same period last year [3] - Operating expenses increased by 67.01%, primarily due to higher losses from the disposal of non-current assets [3]

Core Viewpoint - Beijing Institute of Navigation Control Technology Co., Ltd. (理工导航) has shown a significant increase in stock price, reflecting positive market sentiment and investor interest in the company's core business of inertial navigation systems and related services [1] Company Overview - The company was established on February 24, 2012, and went public on March 18, 2022 [1] - It is located in Beijing Economic and Technological Development Zone and primarily engages in the R&D, production, and sales of inertial navigation systems and core components [1] - The revenue composition is as follows: product sales account for 99.63%, other supplementary income for 0.34%, and technical services for 0.04% [1] Stock Performance - As of October 15, the stock price increased by 5.28%, reaching 60.84 CNY per share, with a trading volume of 78.71 million CNY and a turnover rate of 1.51% [1] - The total market capitalization of the company is 5.354 billion CNY [1] Shareholder Information - In the top ten circulating shareholders, Invesco Great Wall Fund's "Invesco Great Wall Research Selected Stock A" (景顺长城研究精选股票A) has entered the list, holding 338,400 shares, which is 0.93% of the circulating shares [2] - The fund has achieved a year-to-date return of 45.98% and a one-year return of 54.96% [2] Fund Manager Profile - The fund manager of Invesco Great Wall Research Selected Stock A is Jiang Shan, who has been in the position for 4 years and 65 days [3] - The total asset size of the fund is 10.811 billion CNY, with the best return during the tenure being 181.78% [3]

Core Viewpoint - The stock of Beijing Ligong Navigation Technology Co., Ltd. experienced an 18.82% increase on October 13, with a trading volume of 364 million yuan, indicating strong market interest and activity [1]. Financing Summary - On October 13, the financing buy-in amount for Ligong Navigation was 13.26 million yuan, while the financing repayment was 15.53 million yuan, resulting in a net financing outflow of 2.27 million yuan [1]. - As of October 13, the total financing and securities lending balance for Ligong Navigation was 24.25 million yuan, which represents 0.44% of its market capitalization and is below the 40th percentile level over the past year, indicating a low financing balance [1]. - There were no shares sold or repaid in the securities lending segment on October 13, with a total securities lending balance of 0 yuan, which is above the 60th percentile level over the past year, indicating a high securities lending position [1]. Business Performance - As of June 30, Ligong Navigation reported a total of 5,328 shareholders, an increase of 11.23% from the previous period, while the average circulating shares per person decreased by 10.10% to 6,854 shares [2]. - For the first half of 2025, Ligong Navigation achieved operating revenue of 35.76 million yuan, representing a year-on-year growth of 170.36%, while the net profit attributable to shareholders was -16.81 million yuan, showing a year-on-year improvement of 45.06% [2]. Dividend and Shareholding Structure - Since its A-share listing, Ligong Navigation has distributed a total of 103 million yuan in dividends, with 48.4 million yuan distributed over the past three years [3]. - As of June 30, 2025, among the top ten circulating shareholders, notable new entrants include Guotou Ruijin National Security Mixed A, holding 1.2991 million shares, and Zhongou High-end Equipment Stock Initiation A, holding 500,000 shares [3].