成都中科微为公司实际控制人、过去12个月的曾任董事长卜智勇控制的企 业；胡世平先生为公司董事长、总经理；顾小华女士为公司董事会秘书、副总 经理、财务负责人。根据《深圳证券交易所创业板股票上市规则》及相关规 定，本次公司与关联方成都中科微、胡世平先生、顾小华女士共同投资设立参 股公司事项构成关联交易。 证券代码：300762 证券简称：上海瀚讯 公告编号：2024-053 上海瀚讯信息技术股份有限公司 关于与关联方共同投资设立参股公司暨关联交易的公告 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。 一、 关联交易概述 上海瀚讯信息技术股份有限公司（以下简称"公司"或"上海瀚讯"）于 2024年9月18日在公司会议室召开第三届董事会第十三次临时会议和第三届监事 会第十次临时会议，分别以5票同意、0票反对、0票弃权和以3票同意、0票反 对、0票弃权的表决结果，审议通过了《关于与关联方共同投资设立参股公司暨 关联交易的议案》，同意公司与关联方成都中科微信息技术研究院有限公司 （以下简称"成都中科微"）、胡世平先生、顾小华女士及上海瀚希科技合伙 企业(有限合伙)（以下简 ...

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。 证券代码：300762 证券简称:上海瀚讯 公告编号：2024-056 上海瀚讯信息技术股份有限公司 特别提示 2024 年第二次临时股东大会决议公告 1、 本次股东大会不存在否决议案情形。 （1）现场会议召开时间：2024 年 9 月 19 日（星期四）14:30 （2）网络投票时间：2024 年 9 月 19 日，其中： ①通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 9 月 19 日 9:15-9:25，9:30-11:30，13:00-15:00； ②通过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 9 月 19 日 9:15-15:00 期间的任意时间。 2、 本次股东大会不涉及变更以往股东大会已通过的决议。 2、会议召开地点：上海市嘉定区鹤友路 258 号公司会议室 6、会议召开的合法、合规性：本次股东大会的召集、召开符合《公司法》 《上市公司股东大会规则》《深圳证券交易所创业板股票上市规则》等有关法律、 行政法规、部门规章、规范性文件和《公司章程》的有关规定。 3、 ...

Investment Rating - The investment rating for Shanghai HanXun (300762) has been downgraded to "Recommend" due to lower-than-expected demand from downstream customers [1] Core Views - Shanghai HanXun's revenue and net profit were under pressure in H1 2024 due to industry fluctuations, with revenue declining by 27.56% YoY to RMB 106 million and net profit dropping by 252.81% YoY to a loss of RMB 52 million [1] - The company's gross margin improved by 18.77% YoY to 68.33% in H1 2024, driven by a significant order from Yuanxin worth RMB 51.13 million, accounting for 48.14% of total revenue [1] - In Q2 2024, revenue fell by 45.08% YoY and 43.96% QoQ to RMB 38 million, while net profit decreased by 549.01% YoY and 318.58% QoQ to a loss of RMB 42 million [1] - The company has made progress in multiple product areas, including vehicle-mounted terminals, 5G base stations, and satellite communication projects, which are expected to drive future growth [1] - Shanghai HanXun has completed the conversion of achievements in tactical communication, 5G communication, data link, and satellite communication fields, with several projects entering small-scale production or trial use [1] Financial Forecast - Revenue is expected to grow from RMB 437 million in 2024 to RMB 1.504 billion in 2026, with a CAGR of 85.5% [1][2] - Net profit is projected to increase from RMB 43 million in 2024 to RMB 375 million in 2026, with a CAGR of 196.5% [1][2] - EPS is forecasted to rise from RMB 0.07 in 2024 to RMB 0.60 in 2026 [1][2] - The company's gross margin is expected to improve from 52.5% in 2024 to 58.0% in 2026, while net margin is projected to increase from 9.8% to 24.9% over the same period [2] Industry and Market Performance - Shanghai HanXun operates in the military industry sector, with a current stock price of RMB 13.34 as of September 11, 2024 [4] - The company's market capitalization is RMB 8.377 billion, with a total of 627.97 million shares outstanding [4] - Over the past 12 months, the stock has underperformed the CSI 300 index, with a decline of 53% compared to the index's 27% drop [5]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's short-term performance is under pressure due to industry fluctuations, but its satellite business is expected to see significant growth [2] - The company is deeply involved in the construction of satellite internet through the Qianfan Constellation project, which aims to provide global network coverage by 2030 [4] - The company has a comprehensive industry chain layout and is increasing its R&D investment, which is expected to drive future growth [4] Financial Performance - The company reported a revenue of 106 million yuan in the first half of 2024, a year-on-year decrease of 27.56%, and a net profit attributable to the parent company of -52 million yuan, a year-on-year decrease of 252.81% [3] - The company's gross margin improved in Q2 2024, reaching 74.09%, up 38.33 percentage points year-on-year and 8.99 percentage points quarter-on-quarter [3] - The company's R&D investment in the first half of 2024 was 123 million yuan, remaining stable compared to the previous year [4] Industry and Market Position - The company is a leader in the military broadband communication market and is expected to benefit from the upgrade of military communication from narrowband to broadband [5] - The company has a strong position in the low-orbit satellite industry chain and is expected to see significant growth as the satellite internet market expands [5] Future Outlook - The company's new products are expected to drive performance recovery as the demand for military products normalizes [3] - The company's participation in the Qianfan Constellation project and its R&D achievements are expected to provide sustained growth momentum [4] - The company's profit forecast for 2024-2026 has been adjusted, with expected net profits of 21 million yuan, 263 million yuan, and 345 million yuan, respectively [5] Valuation - The company's 2025 PE ratio is 33x, which is below the 5-year historical average of 64x and the average PE ratio of comparable companies for 2025, which is 36x [5]

证券代码：300762 证券简称：上海瀚讯 公告编号：2024-052 上海瀚讯信息技术股份有限公司 关于放弃控股子公司优先购买权暨关联交易的补充公告 | 项目 | 2024 年 6 月 30 日 | | | --- | --- | --- | | 资产总额 | | 41,006,710.80 | | 负债总额 | | 1,677,110.56 | | 净资产 | | 39,329,600.24 | | 项目 | 2024 年 1 月 1 日-2024 年 6 月 30 | 日 | | 营业收入 | | 149,557.52 | | 营业利润 | | -24,216,392.61 | | 净利润 | | -18,208,621.69 | | 经营活动产生的现金流量净额 | | -24,563,810.47 | 注：以上数据为中科宇联 2024 年半年度未经审计的数据。 本次的交易标的为中科宇联 17.96%的股权，根据中科宇联的业务及财务情 况，经上海联新和卜智勇先生双方协商，协议约定股权转让金额为人民币 1,623.29 万元。本次公司放弃控股子公司优先购买权暨关联交易事项不构成《上 市公司重大资产重组管理 ...

上海瀚讯（300762.SZ）2024 年半年报点评 [盈利预测与财务指标 Table_Forcast] Q2 业绩承压，卫星互联网未来可期 2024 年 09 月 01 日 ➢ 事件：上海瀚讯 2024 年 8 月 30 日发布半年报，上半年营业收入 1.06 亿元， 同比减少 27.56%；归属于母公司所有者的净亏损 0.52 亿元。 ➢ 2024Q2 公司因下游行业需求因素业绩承压。2024Q2 公司实现营收 0.38 亿元，同比-45.08%，环比-43.96%；实现归母净利润-0.42 亿元，相较于 2023Q2 的-0.06 亿元和 2024Q1 的-0.10 亿元亏损扩大，我们认为公司短期业绩承压主 要系公司下游军品行业需求阶段性影响所致。 ➢ 卫星互联网前景广阔，公司已深度参与相关低轨卫星星座建设。近两年卫星 互联网行业规模持续扩张，根据中商产业研究院数据，2024 年全球在轨卫星将 达 8000 颗，终端设备与运营收入将达到 5000 亿元，在线卫星通信终端将增至 400 万套，卫星互联网发展空间广阔。我国卫星互联网产业市场规模 2025 年有 望超过 400 亿元。全球各国积极参与星座建设 ...

Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2024, representing a 15% increase compared to the same period in 2023[7]. - The company has set a revenue guidance of RMB 600 million for the full year 2024, indicating a projected growth of 10% from 2023[7]. - The company's operating revenue for the first half of 2024 was ¥106,219,950.45, a decrease of 27.56% compared to ¥146,641,300.41 in the same period last year[12]. - The net loss attributable to shareholders was ¥52,047,041.40, representing a 252.81% increase in losses compared to a net loss of ¥14,752,088.79 in the previous year[12]. - The net cash flow from operating activities was -¥130,714,070.04, which is an 11.21% decline from -¥117,538,457.34 in the same period last year[12]. - The gross profit margin for broadband mobile communication equipment was 68.06%, compared to 55.36% in the previous year[23]. - The company reported a net loss of CNY 72,962,400.39 for the first half of 2024, compared to a loss of CNY 28,298,056.42 in the same period of 2023[97]. - The total comprehensive loss attributable to the parent company for the first half of 2024 was approximately ¥50.07 million, compared to a loss of ¥12.63 million in the first half of 2023[101]. User Growth and Market Expansion - User data showed a growth in active users to 1.5 million, up 20% year-over-year[7]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[7]. - The company is positioned to benefit from the increasing emphasis on defense informationization, which is a key driver for the broadband mobile communication market[16]. Product Development and Innovation - New product development includes the launch of a 5G communication device, expected to contribute an additional RMB 50 million in revenue by the end of 2024[7]. - The company has invested RMB 20 million in R&D for new technologies, focusing on AI integration in communication systems[7]. - The company aims to enhance its R&D capabilities and product offerings to meet the stringent performance requirements of its unique customer base[19]. - The company has initiated the development of low-orbit satellite communication subsystem equipment and is involved in related satellite constellation projects[22]. Strategic Acquisitions and Investments - A strategic acquisition of a local tech firm is in progress, which is anticipated to enhance the company's technological capabilities and add RMB 30 million in annual revenue[7]. - The company completed an acquisition of Chengdu Zhongke Yulian Information Technology Co., Ltd., which is expected to impact overall operations and performance positively[49]. - The company has invested RMB 62,500,000.00 during the reporting period, compared to RMB 0.00 in the same period last year, indicating a significant increase[34]. Financial Position and Cash Flow - The total assets at the end of the reporting period were ¥3,597,621,770.68, reflecting a 3.37% increase from ¥3,480,462,750.96 at the end of the previous year[12]. - The company's total liabilities increased to CNY 1,125,775,114.36 from CNY 984,162,791.26, reflecting a rise of about 14.4%[92]. - The net increase in cash and cash equivalents was -¥101,051,138.27, a decline of 117.48% due to decreased collection of accounts receivable and investments in joint ventures[26]. - The company reported a cash balance of CNY 10,741.20 at the end of the period, unchanged from the beginning of the period[172]. Risks and Challenges - The company faces potential risks related to market competition and regulatory changes, with strategies in place to mitigate these risks[2]. - The company faces risks from intensified market competition as more research institutions and private enterprises increase their R&D efforts in the broadband mobile communication sector[49]. - Customer procurement orders are subject to fluctuations, which may lead to uncertainty in the company's revenue[49]. - The company is at risk of losing core technical personnel due to competition offering better compensation, which could adversely affect business operations if not addressed promptly[50]. Corporate Governance and Compliance - The company emphasizes compliance and social responsibility, focusing on creating value for shareholders while fulfilling obligations to employees and other stakeholders[56]. - The company has established a clear governance structure with a board of directors responsible for maximizing shareholder interests, supported by various committees[56]. - The company has fulfilled all commitments made by actual controllers and shareholders regarding share transfer restrictions, with a lock-up period of 36 months from the date of listing[58]. Research and Development - Research and development expenses increased to CNY 112,428,408.69, up 18.6% from CNY 94,728,912.12 in the previous year[97]. - The company has 55 core patents and 114 software copyrights, demonstrating strong independent intellectual property capabilities[24]. - The company has been recognized as a high-tech enterprise and has received multiple certifications for its innovation capabilities[24]. Shareholder Information - The first extraordinary shareholders' meeting in 2024 had an investor participation rate of 26.28%[54]. - The annual shareholders' meeting in 2023 had an investor participation rate of 27.84%[54]. - The company does not plan to distribute cash dividends or issue bonus shares for the half-year period[55]. Inventory and Receivables - Inventory increased by 28.91% to ¥367,511,677.52, mainly to ensure delivery tasks for the second half of the year[29]. - The total accounts receivable at the end of the period amounted to ¥1,252,320,085.58, an increase from ¥1,208,349,143.59 at the beginning of the period[177]. - The provision for bad debts at the end of the period was ¥240,203,477.04, reflecting a provision ratio of 19.18%[179]. Taxation and Financial Regulations - The company is subject to a corporate income tax rate of 15% as a high-tech enterprise, effective for three years from December 23, 2021[171]. - The company’s effective corporate income tax rate varies by subsidiary, with rates of 15% for Shanghai Hanxun Information Technology Co., Ltd. and 5% for Nanjing Hanxun Information Technology Co., Ltd.[170].

证券代码：300762 证券简称：上海瀚讯 公告编号：2024-049 3、会议召开的合法、合规性：本次股东大会的召集、召开符合有关法律、 行政法规、部门规章、其他规范性文件及《公司章程》的有关规定。 4、会议召开的日期与时间 （1）现场会议召开时间：2024 年 9 月 19 日（星期四）14:30 上海瀚讯信息技术股份有限公司 关于召开 2024 年第二次临时股东大会的通知 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。 上海瀚讯信息技术股份有限公司（以下简称"公司"）于 2024 年 8 月 28 日 召开了第三届董事会第十二次会议，审议通过了《关于召开 2024 年第二次临时 股东大会的议案》，公司董事会决定于 2024 年 9 月 19 日以现场投票与网络投票 相结合的方式召开公司 2024 年第二次临时股东大会（以下简称"本次会议"或 "本次股东大会"）现将会议的有关情况通知如下： 一、召开会议基本情况 1、会议届次：2024 年第二次临时股东大会 2、会议的召集人：公司董事会 （2）网络投票时间：2024 年 9 月 19 日 其中，通过深圳证券 ...

证券代码：300762 证券简称：上海瀚讯 公告编号：2024-048 上海瀚讯信息技术股份有限公司 关于申请银行综合授信额度的公告 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。 上海瀚讯信息技术股份有限公司（以下简称"公司"）于 2024 年 8 月 28 日 召开第三届董事会第十二次会议和第三届监事会第九次会议，审议通过了《关于 申请银行综合授信额度的议案》，同意公司向金融机构申请银行综合授信额度不 超过人民币 25 亿元。现将具体事项公告如下： 一、 申请授信额度的具体事宜 为了更好支持公司业务发展，确保满足公司生产经营资金需求，公司拟向金 融机构申请综合授信额度不超过人民币 25 亿元，上述授信额度用途包括但不限 于流动资金贷款、银行承兑汇票、商业承兑汇票贴现、信用开证、保函、保理、 融资租赁等银行授信业务。上述授信额度以相关金融机构实际审批的最终授信额 度为准，具体融资金额视公司实际经营情况需求决定；在综合授信额度内，公司 可以根据实际资金需求在不同授信金融机构之间调剂使用；使用期限为自公司 2024 年第二次临时股东大会审议通过之日起 12 个月 ...