Core Points - Lianchuang Optoelectronics (600363) closed at 57.38 CNY on July 4, 2025, up 0.33% from the previous week [1] - The company's market capitalization is currently 26.023 billion CNY, ranking 14th in the consumer electronics sector and 590th among all A-shares [1] Company Announcements - Lianchuang Optoelectronics provided a guarantee for its associate company, Jiangxi Lianchuang Superconducting Technology Co., Ltd., for a loan application not exceeding 80 million CNY [2] - The company will provide a guarantee of up to 32 million CNY based on its shareholding ratio, with a maximum actual guarantee limit of 12 million CNY [2] - As of the announcement date, the total external guarantees by Lianchuang Optoelectronics and its subsidiaries amounted to 927 million CNY, accounting for 22.33% of the latest audited net assets [2] Share Buyback Progress - Lianchuang Optoelectronics approved a share buyback plan on February 10, 2025, with a budget between 100 million CNY and 150 million CNY [3] - As of June 30, 2025, the company has repurchased 113,400 shares, representing 0.03% of the total share capital, with a total expenditure of approximately 6.09 million CNY [3][4]

重要内容提示： 证券代码：600363 证券简称：联创光电 公告编号：2025-054 江西联创光电科技股份有限公司 关于股份回购进展公告 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法律责任。 | 回购方案首次披露日 | 2025/1/24 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 2 月 2 | 10 | 日~2026 | 年 | 月 | 9 日 | | 预计回购金额 | 10,000万元~15,000万元 | | | | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 113,400股 | | | | | | | 累计已回购股数占总股本比例 | 0.03% | | | | | | | 累计已回购金额 | 6,094,749.00元 | | ...

证券代码：600363 证券简称：联创光电 公告编号：2025-053 江西联创光电科技股份有限公司 关于为关联方提供担保的进展公告 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法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 江西联创超导技术有限公司 | | --- | --- | --- | | | 被担保人关联关系 | ☑控股股东、实际控制人及其控制 的主体 ☑上市公司董事、监事、高级管理 人员及其控制或者任职的主体 □其他______________ | | 担保对象 | 本次担保金额 | 最高限额 1,200 万元 | | | 实际为其提供的担保余额 | 万元 5,998 | | | 是否在前期预计额度内 | 是 □否 □不适用：_________ | | | 本次担保是否有反担保 | 是 □否 □不适用：_________ | 累计担保情况 2025 年 4 月 27 日，江西联创光电科技股份有限公司（以下简称"联创光电" 或"公司"）召开第八届董事会第二十次会议并审议通过了关于《为参股公司提供 ...

Investment Rating - The report rates the defense and military industry as "Outperforming the Market" [2] Core Views - The global geopolitical situation remains tense, with ongoing conflicts such as the Russia-Ukraine war and rising risks in the Middle East, leading to an intensified arms race and increased focus on military construction [4][38] - The defense industry is expected to see a recovery in demand as the "14th Five-Year Plan" approaches its final year, with long-term growth certainty supported by clear development goals for 2035 and 2050 [4] - The upcoming military parade on September 3 will showcase both traditional main battle equipment and new combat forces, highlighting advancements in military capabilities [3][40] Summary by Sections Market Review - The defense and military index rose by 6.90% last week, outperforming major indices such as the Shanghai Composite and Shenzhen Component [12] - The current PE (TTM) for the defense and military sector is 79.92 times, with sub-sectors showing varied valuations: aerospace equipment at 143.52 times, aviation equipment at 69.14 times, ground weapons at 174.36 times, naval equipment at 50.76 times, and military electronics at 102.36 times [20][21] Key Recommendations - Recommended companies include: 1. Downstream manufacturers: Hongdu Aviation, AVIC Shenyang Aircraft, AVIC Xi'an Aircraft, and AVIC Helicopter [4] 2. Military new technologies: Lianchuang Optoelectronics, Guangqi Technology, and Zhongjian Technology [4] 3. Underwater equipment: Hailanxin, Yaxing Anchor Chain, and Zhongke Haixun [4] 4. Missile industry chain: Feilihua, Guoke Military Industry, and Zhongbing Hongjian [4] 5. Military titanium materials: Western Superconducting [4] 6. Electronic components: Hongyuan Electronics and Aerospace Electronics [4] 7. Military trade direction: Zhongwu Drone [4] Industry Dynamics - Recent policies related to deep-sea technology indicate significant development potential, particularly for specialized equipment like UUVs, supported by top-level planning [3] - The military trade market is expanding, with recent announcements of procurement from Pakistan for Chinese fighter jets, indicating a growing opportunity in military exports [39]

证券代码：600363 证券简称：联创光电 编号：2025-052 江西联创光电科技股份有限公司 关于控股股东部分股权解除质押并再质押的公告 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 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责任。 重要内容提示： 江西联创光电科技股份有限公司（以下简称"公司"或"本公司"）控股股 东江西省电子集团有限公司（以下简称"电子集团"）持有公司股份数量为 94,736,092 股，占公司总股本比例为 20.89%；本次解除质押并再质押后，累计质 押股份数量为 75,331,645 股，占其所持有公司股份总数的 79.52%，占公司总股 本的 16.61%。 公司于近日接到控股股东电子集团通知，获悉其将所持有本公司的部分股份 解除质押并再质押，具体事项如下： | 股东名称 | 江西省电子集团有限公司 | | --- | --- | | 本次解质股份（股） | 1,870,000 | | 占其所持股份比例 | 1.97% | | 占公司总股本比例 | 0.41% | | 解除质押时间 | 2025/6/23 | | 持股数量（股） | 94 ...

Investment Rating - The report maintains a positive outlook on the defense and military industry, particularly in light of the current global geopolitical tensions, indicating a favorable investment opportunity in this sector [3][36]. Core Insights - The defense and military sector is expected to benefit from the recovery of demand and the elimination of previous disruptions, with a long-term growth certainty supported by national defense modernization goals set for 2035 and 2050 [5][38]. - The report highlights the increasing importance of drone technology in modern warfare, emphasizing its cost-effectiveness and operational advantages [4][36]. - The low-altitude economy is identified as a burgeoning sector, with significant policy support and commercial opportunities emerging [4][35]. Summary by Sections Market Review - The defense and military index fell by 2.01% last week, ranking 17th among 31 sectors, with a current PE(TTM) of 74.63 times [3][20]. - The sub-sectors show varying PE ratios, with aerospace equipment at 134.59 times and ground weaponry at 148.10 times [20]. Key Recommendations - Focus on companies with strong demand and product depth in the downstream manufacturing sector, such as Hongdu Aviation, AVIC Shenyang Aircraft, and AVIC Xi'an Aircraft [5][40]. - Highlight new technology firms in the military sector, including Lianchuang Optoelectronics and Guangqi Technology [5][40]. - Emphasize underwater equipment companies like Hailanxin and Yaxing Anchor Chain [5][41]. - Recommend missile industry chain companies such as Feilihua and Guokexun [5][42]. - Suggest companies involved in military-grade titanium materials and electronic components, including Western Superconducting and Hongyuan Electronics [5][43][44]. Industry Dynamics - The report notes that geopolitical tensions, particularly in the Middle East, are driving interest in military investments [3][36]. - The low-altitude economy is highlighted as a significant growth area, with various local governments implementing supportive measures to foster development [31][35].

Core Viewpoint - The company has announced an adjustment to the maximum repurchase price of its shares following the implementation of the 2024 annual profit distribution plan, reducing the limit from RMB 70.00 per share to RMB 69.95 per share, effective from June 25, 2025 [1][2][3] Group 1: Share Repurchase Details - The company plans to repurchase shares using its own or raised funds through centralized bidding on the Shanghai Stock Exchange, with a total repurchase amount not less than RMB 100 million and not exceeding RMB 150 million [1][4] - The repurchase shares will be used for cancellation and reduction of the company's registered capital, with the implementation period set for 12 months from the approval date of the repurchase plan [1][4] - The adjusted maximum repurchase price is calculated based on the cash dividend distribution of RMB 0.54 per 10 shares, leading to a new limit of RMB 69.95 per share [2][3] Group 2: Profit Distribution Plan - The company will distribute a total cash dividend of RMB 24,483,656.70 (including tax) to all shareholders, with the record date for the distribution set for June 24, 2025, and the ex-dividend date on June 25, 2025 [2][3] - The profit distribution plan does not include stock dividends or capital reserve transfers, and any changes in total share capital due to various factors will not affect the total distribution amount [1][2]

Core Viewpoint - The legal opinion letter issued by Jiangxi Qiu Zheng Wo De Law Firm confirms that Jiangxi Lian Chuang Optoelectronics Co., Ltd.'s differentiated dividend distribution for 2024 complies with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [5]. Group 1: Differentiated Dividend Distribution - The differentiated dividend distribution is necessitated by the company's share repurchase plan, which involves using self-owned or self-raised funds to repurchase shares for cancellation, thus affecting the total share capital [2][3]. - The company plans to distribute cash dividends of 0.54 yuan per 10 shares (including tax) to all shareholders, based on a total share count of 453,401,050 shares after excluding repurchased shares [3][4]. Group 2: Impact on Share Price - The differentiated dividend distribution will not change the number of circulating shares, resulting in a circulation share change ratio of 0, and thus the reference price for ex-dividend will be calculated without affecting the share price significantly [4]. - The calculated ex-dividend reference price is 61.126 yuan per share, indicating that the impact of the share repurchase on the ex-dividend reference price is minimal, remaining below 1% [4]. Group 3: Legal Compliance - The legal opinion asserts that the differentiated dividend distribution adheres to the Company Law, Securities Law, and other relevant regulations, confirming that it does not harm the interests of the company or its shareholders [5].

证券代码：600363 证券简称：联创光电 编号：2025-051 江西联创光电科技股份有限公司 关于控股股东部分股权解除质押并再质押的公告 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 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责任。 重要内容提示： 江西联创光电科技股份有限公司（以下简称"公司"或"本公司"）控股股 东江西省电子集团有限公司（以下简称"电子集团"）持有公司股份数量为 94,736,092 股，占公司总股本比例为 20.89%；本次解除质押并再质押后，累计质 押股份数量为 75,331,645 股，占其所持有公司股份总数的 79.52%，占公司总股 本的 16.61%。 公司于近日接到控股股东电子集团通知，获悉其将所持有本公司的部分股份 解除质押并再质押，具体事项如下： | 股东名称 | 江西省电子集团有限公司 | | --- | --- | | 本次解质股份（股） | 3,951,283 | | 占其所持股份比例 | 4.17% | | 占公司总股本比例 | 0.87% | | 解除质押时间 | 2025/6/19 | | 持股数量（股） | 94 ...

Group 1 - President Xi Jinping emphasized the urgency of a ceasefire in the Middle East, stating that the use of force is not the correct way to resolve international disputes [1] - The Chinese photovoltaic industry is expected to see a significant production cut in Q3, with operating rates projected to decrease by 10%-15% [1] - The Ministry of Commerce announced it will expedite the review of export license applications related to rare earths, aiming to maintain global supply chain stability [1] Group 2 - The China Securities Index will officially launch the China Science and Technology Innovation Semiconductor Index on June 20, 2025, which will include 50 companies from the STAR Market and ChiNext [2] - The Ministry of Commerce highlighted the importance of China-EU economic and trade relations, emphasizing ongoing communication and cooperation [2] Group 3 - Kweichow Moutai announced a cash dividend of 27.673 yuan per share for the 2024 fiscal year, totaling 34.671 billion yuan [3] - Zhongqi New Materials reported that Starry Sky Technology has become its controlling shareholder [3] - Lianchuang Optoelectronics noted strong demand for drone countermeasure equipment in the Middle East [3] Group 4 - Fuhuang Steel Structure announced the termination of its plan to issue shares and pay cash for asset purchases [4] - Shengnuo Bio expects a significant increase in net profit for the first half of the year, projecting a year-on-year growth of 254%-332% [4] Group 5 - Zhongyan Chemical plans to agree to a capital reduction for Zhongyan Alkali Industry, which is expected to constitute a major asset restructuring [5] - Kanda New Materials intends to acquire at least 51% of Zhongke Huamei's shares to expand into the semiconductor integrated circuit field [6] Group 6 - Times Publishing clarified that it does not engage in stablecoin business and has a minimal indirect stake in JD Technology [8] - Sanhua Intelligent Controls confirmed the final price for its H-share issuance at 22.53 HKD per share [9] Group 7 - Taiji Co. announced that Changjiang Industrial Group will become its indirect controlling shareholder, with stock resuming trading on June 20, 2025 [10] - Guosen Securities received approval from the Shenzhen Stock Exchange for its acquisition of 96.08% of Wanhe Securities [10] Group 8 - Zhongsheng Pharmaceutical completed the first participant enrollment for its Phase III clinical trial of the innovative drug RAY1225 for obesity [11] - Yuncong Technology stated that its multi-modal AI technology for live detection can be applied to stablecoin wallet scenarios [12]