香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 中國航空科技工業股份有限公司 AviChina Industry & Technology Company Limited* 承董事會命 中國航空科技工業股份有限公司 公司秘書 吳筠 北京，二零二五年十月二十九日 於本公告日，董事會由執行董事閆靈喜先生和孫繼忠先生，非執行董事徐東升先生、周訓文 先生和胡世偉女士，以及獨立非執行董事劉威武先生、毛付根先生和林貴平先生組成。 *僅供識別 (於中華人民共和國註冊成立之股份有限公司) (股份代號：2357) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 以下爲中航機載系統股份有限公司於上海證券交易所網站刊發之公告。 中航机载系统股份有限公司 2025 年第三季度报告 证券代码：600372 证券简称：中航机载 中航机载系统股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 ...

Market Overview - On October 24, Hong Kong's three major indices collectively rose, with the Hang Seng Tech Index leading with a gain of 1.82%, while the Hang Seng Index increased by 0.74%, recovering the 26,000-point mark, and the State-Owned Enterprises Index rose by 0.68% [1][2] - Large technology stocks generally saw increases, with Alibaba and Kuaishou rising over 2%, and Baidu and NetEase up over 1% [1][2] Sector Performance - Semiconductor stocks performed notably well, with Hua Hong Semiconductor surging nearly 14% [1][4] - Military stocks were active, with significant gains in Chinese brokerage stocks in the afternoon session [1] - Precious metals and non-ferrous metals sectors saw collective gains, while water utilities, nuclear power, new consumption concept stocks, domestic real estate, gas, and coal sectors mostly underperformed [1] Company News - Alibaba launched its first self-developed Quark AI glasses on October 24, featuring dual flagship chips from Qualcomm and Hengxuan [3] - The Central Committee of the Communist Party of China emphasized the importance of technological modernization to support China's development during a press conference on October 24 [5] Individual Stock Movements - Hua Hong Semiconductor led the semiconductor sector with a 13.73% increase, followed by ASMPT and Center International with gains of 8.11% and 8.04%, respectively [4][6] - Military-related stocks like AVIC and Aerospace Holdings also saw increases, with AVIC rising over 4% [8] - The non-ferrous metals sector was active, with Jiangxi Copper and Luoyang Molybdenum both rising over 6% [10] Investment Trends - Southbound funds recorded a net inflow of 3.414 billion HKD, indicating strong interest in Hong Kong stocks [18] - Analysts from Guotai Junan Securities believe that if market concerns are alleviated, Hong Kong tech stocks will benefit from current industry trends, particularly with the potential return of foreign capital due to anticipated interest rate cuts by the Federal Reserve [20]

Group 1: Hong Kong Stocks - Yuewen Group (00772) rose over 4% as the company launched four major initiatives to develop its comic-drama ecosystem and actively promote IP commercialization [1] - ASMPT (00522) increased by over 7% after Morgan Stanley reported a recovery in mainstream semiconductor demand and continuous growth in the advanced packaging market, estimating that ASMPT's third-quarter order shipment ratio will remain above 1 [1] - Sands China (01928) rose over 1% as Citigroup expects its EBITDA recovery to continue in Q4 this year and into next year [1] - Jinli Permanent Magnet (06680) saw an increase of over 5% due to significant improvement in profitability and the strategic importance of rare earth resources [1] - AVIC Aircraft (02357) rose over 4% as its Zihuo future aircraft concept model was showcased at the Airshow, with business spanning the aviation industry chain [1] - Minmetals Resources (01208) increased by over 2% with a reported 11% year-on-year growth in total copper production in Q3, and institutions are optimistic about the performance of the Las Bambas mine [1] - Semiconductor stocks led the gains, with Huahong Semiconductor (01347) up over 10%, Shanghai Fudan (01385) up over 4%, SMIC (00981) up over 5%, and Jingmen Semiconductor (02878) up over 6%. Galaxy Securities noted that semiconductor equipment is a critical support sector in the tech war [1] - Horizon Robotics-W (09660) rose over 3% as it gained favor from domestic and international car manufacturers, with HSD already designated by multiple automakers [1][2] Group 2: US Stocks - Tesla (TSLA.US) rose 2.28% with Q3 2025 revenue at $28.095 billion, a 12% year-on-year increase, exceeding analyst expectations [3] - IBM (IBM.US) fell 0.87% as its Q3 hybrid cloud division revenue growth slowed and fell short of expectations [3] - Micron Technology (MU.US) increased by 4.15% as it officially samples the 192GB SOCAMM2 to customers, actively expanding low-power memory applications in AI data centers [3] - NIO (NIO.US) rose 0.73% with over 10,000 deliveries last week, including a record high of over 3,500 for the L90 model [3] - Hesai (HSAI.US) increased by 3.95% after announcing a strategic partnership with Guanghetong to jointly release a multi-modal perception and control solution based on lidar and dual-vision technology [3] - Baidu (BIDU.US) rose 2.95% as it partnered with Swiss Post's subsidiary PostBus to launch autonomous taxi road tests in Switzerland in December [3] - Futu Holdings (FUTU.US) increased by 3.65% after CICC raised its target price by 6% to $230, maintaining an "outperform" rating [3] - Alibaba (BABA.US) rose 3.64% as its Quark AI glasses are set to launch for pre-sale on the 24th [4] - Southwest Airlines (LUV.US) fell 6.25% despite a 1.1% year-on-year revenue increase to $6.95 billion in Q3, exceeding market expectations [4] - Intel (INTC.US) rose 3.36% with Q3 revenue at $13.65 billion, a 2.8% year-on-year increase [5]

Core Viewpoint - AVIC (02357) experienced a significant stock increase, rising over 7% in early trading and currently up 5.67% at HKD 4.29, with a trading volume of HKD 151 million [1] Group 1: Event Highlights - The 7th China Tianjin International Helicopter Expo opened on October 16, focusing on the theme of "Open Innovation, Integrated Development, Cultivating New Quality Productivity" [1] - The expo emphasized the development of the entire helicopter industry chain and low-altitude industry [1] Group 2: Company Developments - AVIC and AVIC Helicopter (600038) showcased the sci-fi IP "Purple Fire" future concept aircraft at the expo and signed multiple cooperation agreements to enhance the high-quality development of the low-altitude industry [1] - AVIC is the only aviation high-tech military-civilian general products and services flagship company in the Hong Kong capital market, holding stakes in four A-share listed companies: AVIC Helicopter, Hongdu Aviation (600316), AVIC Electronics, and AVIC Optoelectronics (002179) [1] - The company's main business includes helicopters, trainer aircraft, general aviation, airborne systems, aviation components, and aviation engineering services [1] - AVIC is actively exploring low-altitude economic application scenarios and accelerating the transformation and application of technological achievements in high-speed electric vertical take-off and landing aircraft [1]

Core Viewpoint - The stock of AVIC (02357) rose over 7% in early trading, reflecting positive market sentiment following the opening of the 7th China Tianjin International Helicopter Expo, where the company showcased its innovative concepts and signed multiple cooperation agreements [1] Group 1: Company Overview - AVIC is the only aviation high-tech military-civilian general products and services flagship company in the Hong Kong capital market, holding stakes in several A-share listed companies including Zhongzhong Aviation, Hongdu Aviation, AVIC Electronics, and AVIC Optoelectronics [1] - The company's main business areas include helicopters, trainer aircraft, general aviation, onboard systems, aviation components, and aviation engineering services [1] Group 2: Industry Developments - The 7th China Tianjin International Helicopter Expo focuses on the entire helicopter industry chain and low-altitude industry development, under the theme of "Open Innovation, Integrated Development, Cultivating New Quality Productivity" [1] - AVIC and Zhongzhong Aviation presented the sci-fi IP "Purple Fire" future concept aircraft at the expo, indicating a commitment to enhancing the high-quality development of the low-altitude industry [1] - The company is actively exploring low-altitude economic application scenarios and accelerating the transformation and application of technological achievements in high-speed electric vertical take-off and landing aircraft [1]

Core Points - The AG600 "Kunlong" amphibious aircraft has successfully completed the assembly and production test flight of its third unit, marking a significant milestone in the project from type certification to small-scale production [2][4] - The AG600 is China's first independently developed large special-purpose aircraft designed to meet urgent needs for forest firefighting and water rescue, and it is the largest civil amphibious aircraft in the world by takeoff weight [4] Summary by Categories Production Milestones - The third unit (1103) of the AG600 has been assembled and has successfully completed its production test flight [2] - The fourth unit (1105) has had its major components delivered to the China Aviation Industry Group's South China branch, indicating progress in the production line [2] Project Significance - The AG600 project represents a critical advancement in China's capabilities for specialized aircraft, particularly for emergency response in forest fires and water rescues [4] - The aircraft's development underscores China's commitment to enhancing its aviation technology and meeting domestic needs for disaster management [4]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國航空科技工業股份有限公司 呈交日期: 2025年9月30日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02357 | 說明 | | | | | | | | 多櫃檯證券代號 | | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 6,210,662,836 | RMB | | 1 RMB | | 6,210,662,836 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 6,210,662,836 | RMB | | 1 RMB | | 6,210,662, ...

Core Viewpoint - The Hong Kong military industry stocks experienced a general rise on September 30, with notable increases in share prices for several companies [1] Group 1: Company Performance - AVIC Aircraft (02357.HK) saw a price increase of 4.58%, reaching HKD 4.34 [1] - China Shipbuilding Defense (00317.HK) rose by 3.38%, with shares priced at HKD 16.23 [1] - Mainland Aviation Technology Holdings (00232.HK) increased by 2.24%, trading at HKD 0.137 [1]

Core Viewpoint - The military stocks have generally risen, with notable increases in companies such as AVIC (4.58% increase), China Shipbuilding Defense (3.38% increase), and Continental Aerospace Technology (2.24% increase) [1] Group 1: Market Performance - AVIC (02357) rose by 4.58%, trading at 4.34 HKD [1] - China Shipbuilding Defense (600685) (00317) increased by 3.38%, trading at 16.23 HKD [1] - Continental Aerospace Technology (00232) saw a rise of 2.24%, trading at 0.137 HKD [1] Group 2: Industry Developments - Dongfang Securities' report highlights that three types of carrier-based aircraft have completed their first catapult takeoff and landing training, marking a milestone in China's naval strength [1] - The influence of weaponry and equipment is continuously expanding [1] Group 3: Strategic Insights - The U.S. Treasury Secretary indicated that engines may become a significant bargaining chip in Sino-U.S. negotiations, emphasizing the urgency for self-sufficiency in domestic large aircraft engines [1] - The military industry has stabilized in recent weeks, with a new phase of equipment construction expected to commence as the 14th Five-Year Plan approaches [1] - Focus on domestic demand recovery and military trade progress is essential for the second half of the year, highlighting the sector's investment value [1]

Core Viewpoint - Military stocks have generally risen, indicating a positive sentiment in the defense sector, driven by recent developments in naval capabilities and the urgency for domestic aircraft engine independence [1] Group 1: Stock Performance - Companies such as AVIC (02357) saw a rise of 4.58%, trading at HKD 4.34; China Shipbuilding Defense (00317) increased by 3.38%, trading at HKD 16.23; and Continental Aerospace Technology Holdings (00232) rose by 2.24%, trading at HKD 0.137 [1] Group 2: Industry Developments - A report from Dongfang Securities highlighted that three types of carrier-based aircraft have completed their first catapult takeoff and landing training, marking a milestone in China's naval strength and expanding the influence of military equipment [1] - The U.S. Treasury Secretary indicated that engines could become a significant bargaining chip in U.S.-China negotiations, emphasizing the urgent need for self-sufficiency in domestic aircraft engines [1] Group 3: Future Outlook - The military industry has stabilized in recent weeks, with the upcoming "14th Five-Year Plan" signaling the start of a new phase in equipment construction, focusing on domestic demand and military trade [1] - The second half of the year will require attention to the upward trend in domestic demand and positive developments in military trade, highlighting the sector's investment value [1]