Securities Code: 002405 Securities Abbreviation: BDStar Navigation Announcement No.: 2026-022
Beijing BDStar Navigation Co., Ltd. Announcement on Uncovered Losses Reaching One-Third of Paid-in Capital
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or significant omissions.
Beijing BDStar Navigation Co., Ltd. (hereinafter referred to as the "Company") held the 19th meeting of the Sixth Board of Directors on April 27, 2026, and reviewed and passed the "Proposal on Uncovered Losses Reaching One-Third of Paid-in Capital." This proposal needs to be submitted to the shareholders' meeting for review. The specific situation is hereby announced as follows:
I. Overview
According to the standard unqualified audit report issued by Xinyonghe Certified Public Accountants (Special General Partnership) (XYZH/2026BJAA7B0290), as of December 31, 2025, the amount of undistributed profits in the Company's consolidated financial statements for 2025 was -869,209,344.29 yuan, and the share capital was 2,370,648,814.00 yuan. The amount of the Company's uncovered losses exceeds one-third of the total share capital. According to the relevant provisions of the "Company Law" and the "Articles of Association," when the uncovered losses reach one-third of the total share capital, it needs to be submitted to the Company's shareholders' meeting for review.
II. Main Reasons for Losses