每经AI快讯，震安科技（SZ 300767，收盘价：20.74元）11月28日晚间发布公告称，公司第四届董事会 第二十六次会议于2025年11月28日在公司会议室召开。会议审议了《关于聘任公司高级管理人员的议 案》等文件。 截至发稿，震安科技市值为57亿元。 每经头条（nbdtoutiao）——已有75人遇难，1名死者为消防员，还有10名消防员受伤！记者现场直击香 港大埔火灾：燃烧的宏福苑，五级大火的五个谜团 （记者 王晓波） 2025年1至6月份，震安科技的营业收入构成为：隔震产品生产占比61.52%，减震产品生产占比 36.04%，其他业务占比2.44%。 ...

Group 1 - The core point of the article is that Zhenan Technology (SZ 300767) held its 25th meeting of the fourth board of directors on November 10, 2025, to discuss the nomination of independent directors [1] - For the first half of 2025, Zhenan Technology's revenue composition was as follows: seismic isolation products accounted for 61.52%, vibration reduction products accounted for 36.04%, and other businesses accounted for 2.44% [1] - As of the time of reporting, Zhenan Technology had a market capitalization of 5.7 billion yuan [1]

Group 1 - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves [2] - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [4] - The company completed the redemption of "Zhenan Convertible Bonds" on December 25, 2024, and the bonds will be delisted from the Shenzhen Stock Exchange on January 6, 2025 [6] Group 2 - The company has approved the conclusion of its initial public offering fundraising projects and will permanently supplement the remaining funds into working capital [5] - The company has received an administrative regulatory measure decision from the China Securities Regulatory Commission and is implementing corrective measures [6] - The company authorized the use of up to RMB 50 million of idle fundraising for cash management, ensuring it does not affect normal operations [6] Group 3 - The company has renewed its internal control audit institution for the year 2024, appointing Xinyong Zhonghe Accounting Firm [6] - The company has approved the expected daily related transactions for 2025 with a maximum amount of RMB 2 million, which was later increased to RMB 4 million [8][10] - The company has authorized the board to issue shares to specific targets not exceeding RMB 300 million [10] Group 4 - The company has changed its accounting estimates in accordance with relevant regulations [11] - The company has received various government subsidies totaling RMB 689,500, of which RMB 646,000 is asset-related [16] - The company has made adjustments to its board of directors and strategic committee due to the resignation of a director [12][15] Group 5 - The company is undergoing a potential change in control, with a transaction involving its controlling shareholder, Beijing Huachuang Sanxin Investment Management Co., Ltd. [15]

Group 1 - The company Zhenan Technology (SZ 300767) held its 22nd meeting of the fourth board of directors on August 28, 2025, where it reviewed the proposal for establishing an internal management system for information disclosure deferral and exemption [1] - For the fiscal year 2024, Zhenan Technology's revenue composition is as follows: seismic isolation products account for 63.9%, vibration reduction products account for 34.16%, and other businesses account for 1.94% [1] - As of the report date, Zhenan Technology has a market capitalization of 6.5 billion yuan [1]

Core Viewpoint - The company plans to engage in daily related transactions with its affiliate, China Construction Zhenan Technology Engineering Co., Ltd., with an estimated total amount of up to 40 million RMB for the year 2025, primarily for the procurement of seismic isolation and damping products [1][2]. Group 1: Daily Related Transactions Overview - The company has approved a proposal for expected daily related transactions for 2025, with the independent directors expressing their agreement [1][7]. - The estimated transaction amount with the affiliate is set to increase from 20 million RMB to 40 million RMB due to business development needs [1][2]. - The total expected transaction amount falls within the board's approval authority and does not require shareholder meeting approval [1][2]. Group 2: Transaction Categories and Amounts - The expected related transactions include sales and purchases of seismic isolation and damping products, with a projected amount of 20 million RMB for each category [2][4]. - The pricing for these transactions will be based on market fair prices and negotiated between the parties [2][6]. Group 3: Affiliate Information - The affiliate, China Construction Zhenan Technology Engineering Co., Ltd., was established on November 1, 2022, with a registered capital of 50 million RMB [4][5]. - As of December 31, 2024, the affiliate reported total assets of 27.97 million RMB and net assets of 20.86 million RMB, with an operating income of 19.44 million RMB and a net profit of 667,900 RMB [5]. Group 4: Transaction Purpose and Impact - The related transactions are deemed necessary for the company's normal business operations and are expected to contribute to its sustainable development [6][7]. - The transactions will adhere to fair pricing principles and are not expected to harm the interests of the company or its minority shareholders [6][7]. Group 5: Approval Procedures and Opinions - The independent directors and the audit committee have reviewed and approved the expected related transactions, confirming they are normal commercial activities [6][7]. - The board of directors unanimously agrees that the expected transactions comply with relevant laws and regulations [7].

点击注册小程序 查看完整报告 特别申明： 报告摘要 24年公司部分项目成交价格相对较低，在收入下滑的同时，公司单位固定成本上升，致使24年毛利率同比 下滑，24年公司毛利率/净利率为31.6%/-33.8%,同比-2.91/-27.85pcts。隔震/减震产品毛利率分别为27.7%及 39.5%,同比-5.8/+4.6pcts。24年公司销售费用率大幅上扬，带动期间费用率整体抬升，从而导致净利率显 著下滑，销售/管理/财务/研发费用率为22.5%/12.5%/5.0%/7.8%,同比+8.14/+3.26/+1.33/+1.76pcts。年内公 司强化现金流管控，加强催收，24年应收账款较2023年有所减少，24年经营现金流净流入0.96亿元，较上 年同期多流入0.18亿元。 事件： 公司发布24年年报,24年公司实现营业收入/归母净利润/扣非归母净利润4.2/-1.4/-1.4亿元，上年同期为 6.9/-0.4/-0.4亿元。24Q4公司实现营业收入/归母净利润/扣非归母净利润1.0/-0.8/-0.8亿元，上年同期为 1.5/-0.6/-0.6亿元。 点评： 经营业绩持续承压，云南省内业务收入降幅较大 2 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for the year 2024, indicating ongoing operational challenges and a need for strategic adjustments [2][3]. Financial Performance - In 2024, the company achieved operating revenue of 4.2 billion, a decrease from 6.9 billion in the previous year. The net profit attributable to shareholders was -1.4 billion, compared to -0.4 billion in 2023 [2]. - In Q4 2024, the company recorded operating revenue of 1.0 billion, with a net profit of -0.8 billion, down from 1.5 billion and -0.6 billion in the same quarter of the previous year [2]. Operational Challenges - The decline in revenue is attributed to a slowdown in real estate and infrastructure investments in certain regions, leading to reduced construction of public buildings such as schools and hospitals. This has affected project progress due to funding issues for contractors [3]. - The company has tightened its collection and credit policies, contributing to a noticeable drop in revenue [3]. Margin and Cost Analysis - The company's gross margin decreased due to rising fixed costs amid declining revenues, with a gross margin of 31.6% and a net margin of -33.8% for 2024, down 2.91 and 27.85 percentage points year-on-year, respectively [4]. - The sales expense ratio increased significantly, leading to an overall rise in the expense ratio, with sales, management, financial, and R&D expense ratios at 22.5%, 12.5%, 5.0%, and 7.8%, respectively, all showing year-on-year increases [4]. Market Expansion and Future Outlook - The market for seismic isolation and damping technology is steadily expanding, with increasing applications in various sectors beyond traditional uses, including public buildings, residential areas, and industrial facilities [5]. - The company is focusing on emerging industries and new business growth points, emphasizing green low-carbon initiatives, smart manufacturing, and digital transformation [5]. - The demand for seismic isolation in schools and hospitals remains the largest segment, accounting for 42% of the market, followed by airports and other public projects at 23% [5].

Core Viewpoint - The company reported a significant decline in revenue and net profit for the year 2024, with total revenue of 420 million and a net loss of 140 million, compared to 690 million and a net loss of 40 million in the previous year [1][2]. Financial Performance - In Q4 2024, the company achieved revenue of 100 million and a net loss of 80 million, down from 150 million and a net loss of 60 million in the same quarter of the previous year [1]. - The company's gross profit margin decreased to 31.6%, down 2.91 percentage points year-on-year, while the net profit margin fell to -33.8%, a decline of 27.85 percentage points [3]. - The revenue from seismic isolation and damping products was 270 million and 140 million, representing year-on-year declines of 46.6% and 24.3%, respectively [2]. Regional Performance - Revenue from operations in Yunnan province decreased by 50.7%, while revenue from outside the province fell by 36.1%, with total revenues of 100 million and 309 million, respectively [2]. Cost and Cash Flow Management - The company faced rising fixed costs, contributing to the decline in gross profit margin, while it successfully managed cash flow, achieving a net cash inflow of 96 million, an increase of 18 million from the previous year [3]. Market Expansion and Future Outlook - The demand for seismic isolation technology in the construction market remains strong, with schools and hospitals accounting for 42% of the demand, followed by airports and other public projects at 23% [4]. - The company is actively exploring new growth areas in green low-carbon technologies, smart manufacturing, and digital transformation, while also seeking opportunities in overseas markets [4]. - Profit forecasts for 2025 and 2026 have been adjusted to net losses of 50 million and a profit of 5 million, respectively, with a new profit forecast for 2027 set at 23 million [4].