Stock code: 688690 Stock abbreviation: Navitas Technology Announcement No.: 2025-004

Suzhou Navitas Technology Co., Ltd

2024 Annual Results Bulletin Announcement

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

The main financial data of 2024 contained in this announcement are preliminary accounting data, which have not been audited by accounting firms, and the specific data are subject to the 2024 annual report of Suzhou Navitas Technology Co., Ltd. (hereinafter referred to as the "Company"), please pay attention to investment risks.

1. Main financial data and indicators for 2024

Unit: RMB 10,000 yuan

Item Current reporting period Same period last year Change (%)

Total operating income 78,264.87 58,686.51 33.36

Operating profit 9,450.40 6,520.25 44.94

Total profit 9,356.52 6,536.10 43.15

Net profit attributable to owners of the parent company

Run 8,110.88 6,856.63 18.29

Deductions attributable to the owners of the parent company

Net profit from non-recurring gains and losses 6,447.10 3,158.65 104.11

Basic earnings per share (RMB) 0.2020 0.1699 18.89

The weighted average return on equity was 4.74% and 4.23%, an increase of 0.51 percentage points

End of the reporting period Beginning of the reporting period Change of change (%)

Total assets 231,103.04 212,656.83 8.67

Owners' equity attributable to parent company 175,035.12 170,352.79 2.75

Share capital 40,381.48 40,381.48 -

Each share attributable to the owners of the parent company

Net assets (RMB) 4.3677 4.2186 3.53

Note: 1. The beginning of the reporting period is the same as the end of the previous year as disclosed by law.

2. The number of common shares in the above table for basic earnings per share is the weighted average of the total share capital less the shares repurchased during the reporting period. Net assets per share attributable to owners of the parent company and the number of common shares at the end of the period are the total share capital less the number of shares repurchased.

3. The above financial data and indicators are filled in with unaudited consolidated financial statements, and the final results are subject to the company's 2024 annual report.

2. Explanation of operating performance and financial situation

(1) The operating situation and financial status of the reporting period

In 2024, the company will achieve operating income of 783 million yuan, a year-on-year increase of 33.36%. The company's core business, chromatography packing materials and chromatography media products, achieved an operating income of about 451 million yuan, an increase of about 10.20% over the previous year. In the external environment of tightening investment and financing and intensified competition in the biopharmaceutical industry, the company focuses on its main business, focuses on customers, and strengthens application technology services. Internally, we accelerated product iteration and innovation, continuously optimized the operation management system, and reversed the passive situation of the decline of the core business for two consecutive years.

In 2024, the company's overall gross profit margin will be 70.24%, a decrease of about 7.65 percentage points from the previous year, mainly due to the increase in the proportion of instrument product revenue, which has lowered the overall gross profit margin. Through product innovation, production process optimization, overseas market expansion and other measures, the gross profit margin fluctuation of chromatography packing and chromatography media products has been controlled within 3%, and the gross profit margin level has remained basically stable.

In 2024, the company's net profit attributable to shareholders of listed companies will be 81.1088 million yuan, an increase of 18.29% over the previous year; The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 64.471 million yuan, an increase of 104.11% over the previous year. The amount of share-based payment expenses amortized during the year was 44.8143 million yuan, the provision for goodwill impairment of Saipu Instrument was 25.0648 million yuan, the amount of inventory decline loss was 16.4279 million yuan, and the amount of credit impairment loss was 10.8883 million yuan.

The company continues to increase R&D investment, lay out product R&D planning for key and major needs, and build long-term competitive advantages against international leading manufacturers. R&D investment in 2024 will be 177 million yuan, an increase of 9.47% over the same period of the previous year, accounting for 22.61% of the operating income of the year.

In 2024, the company's net cash flow from operating activities will be approximately RMB132 million, an increase of approximately 5.11% over the previous year.

(2) The main reasons for the increase or decrease of more than 30% of the relevant items in the above table

During the reporting period, the company's operating income increased by 33.36% year-on-year, mainly due to the company's acquisition of part of the equity of Fuli Instrument and its inclusion in the company's consolidated financial statements from March 2024

The amount was 153.5352 million yuan. After excluding the impact of the merger of Fuli Instrument's revenue, the company's operating income increased by 7.20% year-on-year.

The company's operating profit and total profit increased by 44.94% and 43.15% respectively over the previous year, which was higher than the growth rate of operating income in the same period, which was the positive effect of the company's comprehensive improvement of quality and efficiency improvement.

The company's net profit attributable to the owners of the parent company after deducting non-recurring gains and losses increased by 104.11% over the previous year, on the one hand, the total profit of the current year increased by 43.15%, and on the other hand, a large amount of technical assets disposal gains were obtained in the previous year, and the corresponding net profit base after deducting non-attributable to the parent company was low.

3. Risk Warning

The Company has not identified any significant uncertainties that may affect the accuracy of the content of this earnings report.

The main financial data of 2024 contained in this announcement are the consolidated statement data of preliminary accounting, which has not been audited by an accounting firm, and the specific data are subject to the data disclosed in the company's 2024 annual report.

The announcement is hereby made.

Board of Directors of Suzhou Navitas Technology Co., Ltd

February 27, 2025