Hi-Target Navigation subsidiaries settle significant tax and late fee obligations

Guangzhou Hi-Target Navigation Tech Co., Ltd. and its controlled subsidiary, Shenzhen Zhongming Gaoke Information Industrial Co., Ltd., recently paid approximately 501.91 million yuan in supplementary taxes and 185.27 million yuan in late fees. The total payment amounted to approximately 687.18 million yuan. These payments were made after inspections by local tax authorities and internal self-audits, and all outstanding amounts have been settled, with no administrative penalties incurred.

The company stated these payments will be recorded as part of the 2025 current period's profit and loss. In accordance with relevant accounting standards, these adjustments do not constitute prior period accounting errors and will not require retroactive restatement of previous financial data. The ultimate impact on the company's net profit attributable to shareholders for the 2025 financial year will be reflected in its audited financial statements.

Management emphasized its commitment to strengthening oversight of the company and its subsidiaries, enhancing tax management practices, and providing training to personnel on financial and tax matters. Investors are advised to be aware of potential investment risks.