Market Performance - The general equipment sector increased by 0.8% on August 28, with Yinghuate leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Top Gainers in General Equipment Sector - Yinghuate (301272) closed at 46.68, up 14.64% with a trading volume of 89,600 shares and a transaction value of 388 million [1] - Qiaofeng Intelligent (301603) closed at 80.25, up 12.77% with a trading volume of 120,900 shares and a transaction value of 960 million [1] - Meichang Co. (300861) closed at 16.71, up 12.68% with a trading volume of 441,000 shares and a transaction value of 713 million [1] - Shenling Environment (301018) closed at 77.88, up 12.28% with a trading volume of 123,820 shares and a transaction value of 1.733 billion [1] Market Capital Flow - The general equipment sector experienced a net outflow of 3.551 billion from institutional investors, while retail investors saw a net inflow of 3.342 billion [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - New Lai Materials (300260) had a net inflow of 81.51 million from institutional investors, while retail investors experienced a net outflow of 42.42 million [3] - Shenling Environment (301018) saw a net inflow of 66.31 million from institutional investors, with retail investors facing a net outflow of 55.83 million [3] - Ding Tai High-Tech (301377) had a net inflow of 36.87 million from institutional investors, while retail investors faced a significant net outflow of 81.52 million [3]

证券代码：831961 证券简称：创远信科 公告编号：2025-094 创远信科（上海）技术股份有限公司 签订战略意向合作协议的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、 协议签署概况 （一） 基本情况 创远信科（上海）技术股份有限公司(以下简称"公司")与中 国信息通信研究院华东分院（以下简称"信通院华东分院"）于 2025 年 8 月 28 日在公司集团总部签署了《战略意向合作协议》。 （二） 审批情况 本协议为框架性协议，不涉及实质性交易，不涉及关联交易， 亦不构成《上市公司重大资产重组管理办法》规定的重大资产重组， 根据《北京证券交易所股票上市规则》《公司章程》等相关规定，上 述协议签订事项无需提交公司董事会或股东会审议。公司将根据相 关法律法规的有关规定，及时履行相应的决策程序和信息披露义 务。 二、 协议对手方情况 信通院华东分院成立于 2010 年 9 月，是由中国信息通信研究 院、上海市经济和信息化委员会等联合共建的地方政府智库和研发 创新平台，是中国信息通信研究院四大分 ...

证券代码：831961 证券简称：创远信科 公告编号：2025-093 创远信科（上海）技术股份有限公司 □新闻发布会 □分析师会议 □路演活动 □其他 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 二、 投资者关系活动情况 活动时间：2025 年 8 月 27 日 活动地点：上海浦东新区 参会单位及人员：华西证券股份有限公司及其邀请的投资者 上市公司接待人员：董事会秘书、财务总监王小磊女士 三、 投资者关系活动主要内容 本次投资者关系活动的主要问题及公司对问题的回复概要如 下： 问题 1：据悉工信部即将发放第二批毫米波专网频率许可牌照 以及卫星互联网牌照，请问信息属实吗？公司已有哪些产品适用于 上述领域？ 2025 年半年度公司各类研发项目取得了阶段性成果，推出了 44GHz 手持频谱分析仪、41GHz 手持矢量信号发生器等多款新产品， 更新迭代了 TSP Scanner 扫频仪、T3661C 矢量 ...

Group 1: AI Medical - Ping An Good Doctor's stock surged by 6.99% on August 26, with its price doubling in the past month. The company reported an AI product system "7+N+1" with an accuracy rate of approximately 98% for AI-assisted consultations and nearly 80% for complex disease treatment plans [4] - The average service cost for family doctors decreased by about 52% due to AI assistance, and operational efficiency improved by around 50% [4] Group 2: Artificial Intelligence Policy - The State Council released an opinion on August 26 to implement the "Artificial Intelligence+" initiative, aiming for over 70% application penetration of new intelligent terminals and agents by 2027, and over 90% by 2030 [5] - The initiative includes building national AI application pilot bases and promoting the transformation of software and information service companies [5] Group 3: 5.5G Development - The Ministry of Industry and Information Technology is expected to issue the second batch of millimeter-wave private network frequency licenses, with more companies anticipated to receive licenses by the end of the year [6] - This issuance indicates the maturity of the domestic millimeter-wave 5G industry chain and is expected to initiate a wave of innovation in the sector [7] Group 4: Gaming Industry - The National Press and Publication Administration approved 173 games in August 2025, setting a new record for the year, including 166 domestic and 7 imported games [9] - The gaming market is projected to maintain long-term optimistic growth, with the 3A game market expected to reach 13.3 billion yuan in 2025 and 16.9 billion yuan in 2026, with a CAGR of 35% anticipated from 2027 to 2028 [9] Group 5: Company Earnings - Cambrian reported a net profit of 1.038 billion yuan in the first half of 2025, compared to a loss of 530 million yuan in the same period last year [12] - North Rare Earth's net profit surged by 1951.52% year-on-year to 931 million yuan in the first half of 2025 [12] - Light Media's net profit increased by 371.55% year-on-year to 2.229 billion yuan in the first half of 2025 [12]

Group 1 - The stock price of Chuangyuan Xinke reached a historical high, increasing by 7.70% to 28.52 yuan, with a trading volume of 4.8237 million shares and a transaction value of 132 million yuan [2] - The total market capitalization of Chuangyuan Xinke is now 4.074 billion yuan, with a circulating market value of 2.963 billion yuan [2] - The machinery equipment industry, to which Chuangyuan Xinke belongs, has an overall decline of 0.58%, with 140 stocks rising and 434 stocks falling [2] Group 2 - The latest margin trading data shows that as of August 25, the margin balance for Chuangyuan Xinke is 44.31 million yuan, with a recent increase of 17.6425 million yuan, representing a growth of 66.16% [2] - The company's semi-annual report indicates that it achieved an operating income of 111 million yuan, a year-on-year increase of 18.44%, and a net profit of 6.3153 million yuan, a year-on-year increase of 354.24% [2] - The basic earnings per share are 0.0400 yuan, with a weighted average return on equity of 0.82% [2]

Core Viewpoint - Company released its 2025 semi-annual report, showing a revenue of 111 million yuan, a year-on-year increase of 18.44%, and a net profit attributable to shareholders of 6.3153 million yuan, a year-on-year increase of 354.24% [1] Group 1: Business Performance - The company achieved a significant revenue growth of 18.44% in the first half of 2025, driven by its optimized "1+3" development strategy and high R&D investment [1] - The company maintained a high gross margin of 55.67%, an increase of 1.47 percentage points compared to the same period last year, with the electronic testing instruments contributing 97% of the revenue [2] Group 2: R&D and Product Development - R&D investment reached 73.0687 million yuan in the first half of 2025, focusing on market demand and customer orientation to enhance core competitiveness [2] - New products launched during the period include a 44GHz handheld spectrum analyzer and a 41GHz handheld vector signal generator, reflecting continuous product iteration [2] Group 3: Market Opportunities - The information communication market and smart connected vehicles are expected to drive demand for communication testing equipment, with a projected compound annual growth rate of 20.6% for IoT modules from 2021 to 2026 [2] - The smart vehicle market in China is anticipated to reach 282.2 billion yuan by 2025, increasing the demand for automotive electronic testing equipment [2] Group 4: Investment Outlook - The company focuses on self-developed RF communication testing technology and overall solutions, with expected net profits of 16 million, 19 million, and 24 million yuan for 2025-2027, corresponding to P/E ratios of 221, 178, and 145 times [3] - The overall valuation of the machinery equipment industry is around 81 times, indicating that the company's valuation is relatively high, leading to a cautious recommendation [3]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a revenue growth of 18% year-on-year in H1 2025, supported by high R&D investment to enhance competitiveness in low-altitude and satellite technologies [5] - The projected net profits for the company from 2025 to 2027 are estimated to be 0.19 billion, 0.34 billion, and 0.49 billion respectively, corresponding to current price-to-earnings ratios of 181.0, 104.2, and 71.4 times [6] - The company is focusing on increasing investments in core markets such as 5G/6G, vehicle networking communication testing, and low-orbit, low-altitude sectors, which are expected to provide new growth opportunities [6] Financial Performance Summary - In H1 2025, the company reported a revenue of 1.11 billion (yoy +18%) and a net profit of 6.32 million (yoy +354%), with a significant improvement in cash flow from operating activities [9] - The revenue from electronic testing and measurement instruments increased by 19% year-on-year, with a gross margin of 55.73% [9] - The R&D expenditure accounted for 65.72% of revenue in H1 2025, indicating a strong commitment to product development and innovation [9] - The company has applied for a total of 536 patents, including 370 invention patents, showcasing its focus on technological advancement [9] Earnings Forecast and Valuation - The company's projected revenues for 2025, 2026, and 2027 are 2.69 billion, 3.17 billion, and 3.80 billion respectively, with year-on-year growth rates of 15.51%, 18.11%, and 19.85% [8] - The expected net profit for 2025 is 0.19 billion, with a significant increase in profitability anticipated in the following years [8] - The company is expected to maintain a gross margin of around 51.67% to 52.03% over the forecast period [10]

证券代码：831961 证券简称：创远信科 公告编号：2025-092 创远信科（上海）技术股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 8 月 19 日 活动地点：电话会议 参会单位及人员：华源证券股份有限公司、联储证券股份有限公 司、民生证券股份有限公司、开源证券股份有限公司、长江证券股份 有限公司、中信建投基金管理有限公司、同泰基金管理有限公司、易 方达基金管理有限公司、大成基金管理有限公司、深圳中天汇富基金 管理有限公司、招商基金管理有限公司、深圳市国晖投资有限公司、 深圳市思加资本资产管理有限公司、上海复胜资产管理合伙企业(有 限合伙)、英大国际信托有限责任公司、上海滦海投资管理有限公司、 上海冰河资产管理有限公司、深圳市尚诚资产管理有限责任公司、上 海临信资产管理有限公司、上海潼 ...

Group 1 - The company announced the resignation of director Chen Yiyuan due to personal age reasons [1] - After his resignation, he will no longer hold any positions in the company or its subsidiaries [1]

证券日报网讯 8月18日晚间，创远信科发布公告称，公司聘任秦焕喆先生为公司证券事务代表。 （文章来源：证券日报） ...