中信建投证券股份有限公司 关于中航机载系统股份有限公司金融服务协议及相关风险 控制措施执行情况的专项核查意见 中信建投证券股份有限公司（以下简称"中信建投"、"独立财务顾问"）作 为中航机载系统股份有限公司（以下简称"中航机载"、"公司"）换股吸收合并 中航工业机电系统股份有限公司并募集配套资金暨关联交易之独立财务顾问，根 据《上市公司重大资产重组管理办法》《上海证券交易所股票上市规则》《上海证 券交易所上市公司自律监管指引第 1 号——规范运作》《上海证券交易所上市公 司自律监管指引第 5 号——交易与关联交易（2023 年 1 月修订）》等相关法律法 规及规范性文件，对中航机载 2024 年度金融服务协议及相关风险控制措施执行 情况进行了专项核查，核查情况及核查意见如下： 一、金融服务协议条款的完备性 （一）金融服务协议条款内容 经公司第七届董事会 2020 年度第一次会议（临时）及 2020 年第一次临时股 东大会审议通过，2020 年 12 月，公司与关联方中航工业集团财务有限责任公司 （以下简称"中航工业财务公司"）签署了《中航航空电子系统股份有限公司与 中航工业集团财务有限责任公司金融服务框架协议 ...

中航机载系统股份有限公司 审计报告 大信审字[2025]第 1-02995 号 大信会计师事务所（特殊普通合伙） WUYIGECERTIFIEDPUBLICACCOUNTANTSLLP. 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://ac.mof.gov.cn）"进行全 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://ac.mof.gov.cn）"进行查 。 目录 | | 起始页码 | | --- | --- | | -、审计报告 | 1-6 | | 二、已审财务报表 | | | 合并资产负债表 | 7-8 | | 合并利润表 | 9 | | 合并现金流量表 | 10 | | 合并股东权益变动表 | 11-12 | | 母公司资产负债表 | 13-14 | | 母公司利润表 | 15 | | 母公司现金流量表 | 16 | | 母公司股东权益变动表 | 17-18 | | 财务报表附注 | 19-147 | WUYIGE Certified Public Accountan 路 1 号 Room 2206 22/F.Xuevuan International ...

中信建投证券股份有限公司 关于 中航机载系统股份有限公司 换股吸收合并中航工业机电系统股份有限公司 并募集配套资金暨关联交易 之 2024 年度持续督导意见暨持续督导总结报告 独立财务顾问 二〇二五年三月 释 义 在本持续督导意见中，除非另有说明，以下简称具有如下含义： | 本持续督导意见 | 指 | 《中信建投证券股份有限公司关于中航机载系统股份有限公司换 | | --- | --- | --- | | | | 股吸收合并中航工业机电系统股份有限公司并募集配套资金暨关 | | | | 联交易之 年度持续督导意见暨持续督导总结报告》 2024 | | 重组报告书 | 指 | 《中航航空电子系统股份有限公司换股吸收合并中航工业机电系 | | | | 统股份有限公司并募集配套资金暨关联交易报告书》 | | 吸收合并方、吸 | | 原名"中航航空电子系统股份有限公司"，证券简称"中航电子"； | | 并方、公司、上 | 指 | 已更名为"中航机载系统股份有限公司"，证券简称变更为"中航 | | 市公司、发行人、 | | 机载" | | 中航机载 | | | | 被吸收合并方、 | | | | 被吸并方、中航 机电 ...

中航证券有限公司 关于中航机载系统股份有限公司金融服务协议及相关风险 控制措施执行情况的专项核查意见 中航证券有限公司（以下简称"财务顾问"）作为中航机载系统股份有限公 司（以下简称"中航机载"、"公司"）换股吸收合并中航工业机电系统股份有限 公司并募集配套资金暨关联交易之财务顾问，根据《上市公司重大资产重组管理 办法》《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 5 号——交易 与关联交易（2023 年 1 月修订）》等相关法律法规及规范性文件，对中航机载 2024 年度金融服务协议及相关风险控制措施执行情况进行了专项核查，核查情况及核 查意见如下： 一、金融服务协议条款的完备性 （一）金融服务协议条款内容 （2）本协议有效期内，甲方应于披露上一年度报告之前，对当年度将发生 的各项交易的交易量及总金额进行预计，并应根据《上海证券交易所股票上市规 则》、《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》的规 定，将当年度预计发生的日常关联交易按金额提交董事会及股东大会审议并披露。 各方应按照经甲方董事会及股东 ...

中航机载系统股份有限公司 内控审计报告 大信审字[2025]第 1-03006 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 大信会计师事务所 北京市海淀区知春路 1 号 学院国际大厦 22 层 2206 邮编 100083 中航机载系统股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计了中 航机载系统股份有限公司（以下简称"中航机载"）2024 年 12 月 31 日的财务报告内部控制的 有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定，建立健全和有效实施内部控制，并评价其有效性是企业董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意见， 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 WUYIGE Certified Public Accountants.LLP Room 2206 22/F, Xueyuan Interna ...

中航机载 中航机载系统股份有限公司独立董事 2024 年度述职报告 （魏法杰） 作为中航机载系统股份有限公司（以下简称中航机载、公司）独立 董事，本人在 2024 年度任职期间严格按照《中华人民共和国公司法》 《上市公司独立董事管理办法》《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》等有关法律、法规和规范性文件及《公司章程》 《公司独立董事工作细则》的要求，认真履行法律所赋予的权利，及时 了解公司生产经营情况，积极出席会议，认真审议相关议案，在董事会 决策过程中，充分发挥独立董事的作用，对公司董事会和董事会专门委 员会审议的相关事项发表了独立客观的意见，对董事会正确做出决策发 挥了积极作用，维护了全体股东尤其是中小股东的合法权益。现将 2024 年度履职情况报告如下： 一、独立董事的基本情况 本人魏法杰，教授、博士生导师。历任河北省保定 550 厂工艺员、 北京航空航天大学经济管理学院副院长。社会兼职包括中国国际工程咨 询公司咨询委员会专家、国防科工局军工项目审核中心项目审核专家， 科工局技术经济中心评审专家、央企投资研究院专家、中国项目管理研 究会委员、中国航空学会发动机软科学专业委员会委员 ...

中航机载 中航机载系统股份有限公司独立董事 2024 年度述职报告 （王怀兵） 作为中航机载系统股份有限公司（以下简称中航机载、公司）独立 董事，本人在 2024 年度任职期间严格按照《中华人民共和国公司法》 《上市公司独立董事管理办法》《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》等有关法律、法规和规范性文件及《公司章程》 《公司独立董事工作细则》的要求，认真履行法律所赋予的权利，及时 了解公司生产经营情况，积极出席会议，认真审议相关议案，在董事会 决策过程中，充分发挥独立董事的作用，对公司董事会和董事会专门委 员会审议的相关事项发表了独立客观的意见，对董事会正确做出决策发 挥了积极作用，维护了全体股东尤其是中小股东的合法权益。现将 2024 年度履职情况报告如下： 一、独立董事的基本情况 本人王怀兵，历任远大产业控股股份有限公司法务总监。主要业务 领域包括公司股份制改造、股票发行上市、公司资产重组、公司并购、 股权转让、公司发债、股权基金、风险投资等。现任北京市君都律师事 务所高级合伙人，执业律师，公司第八届董事会独立董事。 本人未在公司担任除独立董事以外的任何职务，也未在公司主要股 东单 ...

中航机载 中航机载系统股份有限公司独立董事 2024 年度述职报告 董事进行独立客观判断的关系，均不存在影响独立董事独立性的情况。 除独立董事津贴以外，没有从公司及其主要股东或有利害关系的机构和 人员处取得额外的、未予披露的其他利益。本人履职独立性符合监管要 求。 二、独立董事年度履职情况 （一）出席董事会和股东大会情况 2024 年度公司以现场及通讯方式共召开了 10 次董事会会议、4 次 股东大会。本人亲自出席了 10 次董事会、4 次股东大会，对董事会会议 审议议案均表决同意，没有无故缺席或对董事会议案投反对、弃权票的 情况发生。 本人认真履行职责，关注公司经营情况，按时出席股东大会、董事 会及任职的专门委员会相关会议并审议各项议案。公司管理层高度重视 与独立董事的沟通交流，定期汇报公司生产经营情况和重大事项进展情 况，为独立董事履职提供了完备的条件和支持。在召开相关会议前，本 人主动了解并获取做出决策所需要的情况和资料，详细审阅会议文件及 相关材料。在会议中，本人认真审议每个议题，积极参与讨论，与公司 经营层充分沟通，利用自身的专业知识，对董事会议案提出合理化建议 和意见，为公司董事会的科学决策发挥了 ...

中航机载 中航机载系统股份有限公司独立董事 2024 年度述职报告 （白玉芳） 作为中航机载系统股份有限公司（以下简称中航机载、公司）独立 董事，本人在 2024 年度任职期间严格按照《中华人民共和国公司法》 《上市公司独立董事管理办法》《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》等有关法律、法规和规范性文件及《公司章程》 《公司独立董事工作细则》的要求，认真履行法律所赋予的权利，及时 了解公司生产经营情况，积极出席会议，审议相关议案，在董事会决策 过程中，充分发挥独立董事的作用，对公司董事会和董事会专门委员会 审议的相关事项发表了独立客观的意见，对董事会正确做出决策发挥了 积极作用，维护了全体股东尤其是中小股东的合法权益。现将 2024 年 度履职情况报告如下： 一、独立董事的基本情况 本人白玉芳，副教授、硕士研究生导师，注册会计师，中国会计学 会会员。历任中央财政管理干部学院讲师、副教授。现任中央财经大学 副教授、硕士研究生导师，公司第八届董事会独立董事。 本人未在公司担任除独立董事以外的任何职务，也未在公司主要股 东单位担任任何职务，与公司以及公司主要股东之间均不存在妨碍独立 董事进行 ...

Financial Performance - The company's operating revenue for 2024 is RMB 23,879,725,151.63, representing a decrease of 17.68% compared to RMB 29,006,921,223.99 in 2023[19]. - The net profit attributable to shareholders of the listed company decreased by 44.83% to approximately CNY 1.04 billion compared to the previous year[20]. - The total profit for 2024 was 1.308 billion yuan, down 42.02% from 2.257 billion yuan in the previous year[40]. - The company's operating cash flow turned negative, with a net cash flow of approximately -CNY 1.99 billion, a decline of 95.50% year-on-year[20]. - The net profit after deducting non-recurring gains and losses also fell by 43.05% to about CNY 833 million[20]. - Basic earnings per share dropped by 50.78% to CNY 0.2151, while diluted earnings per share showed the same decline[21]. - The weighted average return on net assets decreased by 3.32 percentage points to 2.83%[21]. - The company's operating revenue decreased by 17.68% to CNY 23.88 billion compared to the same period last year[41]. - The net profit attributable to shareholders decreased by 44.83% to CNY 1.04 billion, reflecting a significant decline in revenue and gross margin[42]. - Research and development expenses were reduced by 21.34% to CNY 2.74 billion, indicating a strategic shift in investment priorities[51]. Governance and Compliance - The audit report issued by Da Xin Certified Public Accountants is a standard unqualified opinion[3]. - The company has confirmed that all board members attended the board meeting, ensuring the integrity of the annual report[3]. - There are no violations of decision-making procedures regarding external guarantees[4]. - The governance structure is aligned with regulatory requirements, ensuring the protection of shareholder rights and promoting sustainable development[80]. - The company emphasizes strict adherence to information disclosure regulations, ensuring all shareholders have equal access to information[84]. - The actual controller and major shareholder maintain independence in assets, personnel, finance, and operations, with no interference in company decisions[85]. - The company has a structured approach to managing related party transactions, ensuring fairness and transparency[84]. - The company’s governance practices align with legal and regulatory requirements, with no significant discrepancies noted[84]. - The company has established a performance assessment method for senior management remuneration, ensuring alignment with market standards[98]. - The internal control evaluation report indicates that the company's governance structure and internal management systems are in compliance with regulatory requirements[106]. Risk Management - The company has described potential risks in the management discussion and analysis section of the report[4]. - The company faces market competition risks due to the entry of new competitors and the increasing demands for pricing and delivery timelines from users[75]. - There are potential risks related to technological innovation, including challenges in meeting performance indicators and managing research and development costs[75]. - Cash flow risks are present due to high accounts receivable and inventory levels, leading to increased operational cash outflows[76]. - The company has established a quality management system to ensure compliance with strict quality requirements in the production of airborne defense equipment[76]. Research and Development - The company invested nearly 100 million yuan in research and development related to the low-altitude economy in 2024, forming a relatively complete product line for low-altitude airborne products[31]. - The company is focusing on technological innovation and has made breakthroughs in several key aviation airborne technologies, supporting product development and production delivery[31]. - The company has established systematic and component-level cooperative relationships with several leading eVTOL enterprises in the low-altitude economy sector[31]. - R&D investment accounted for 11.49% of total revenue[52]. - The number of R&D personnel is 7,796, representing 23.66% of the total workforce[53]. Environmental Responsibility - The company has invested 37.504 million yuan in environmental protection during the reporting period[130]. - The company has established 61 sets of exhaust gas purification facilities and 3 sets of online monitoring equipment, ensuring compliance with national emission standards[133]. - The company operates 2 comprehensive wastewater treatment stations with a capacity of 600 tons/day and 2 electroplating wastewater treatment stations with a capacity of 140 tons/day[135]. - All subsidiaries have implemented environmental self-monitoring plans, with monitoring results meeting standard requirements[139]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[140]. - The company has completed 6 environmental impact assessments for new projects in accordance with environmental regulations[136]. - The company has established a comprehensive environmental emergency management system and conducted over 10 emergency drills during the reporting period[137]. - The company has built a hazardous waste storage facility in compliance with standards, ensuring proper treatment and disposal of hazardous waste[135]. - The company has maintained a pollution discharge management system that complies with national laws and regulations, with no environmental pollution incidents reported[132]. - The company has reduced carbon emissions by 21,515.81 tons through various measures, including energy management and equipment upgrades[143]. Strategic Development - The company aims to enhance its supply chain management and improve delivery rates and quality to meet production targets[29]. - The company is actively pursuing the development of new technologies, including breakthroughs in quantum science and artificial intelligence, to enhance airborne systems[68]. - The company plans to strengthen its strategic investment in military aviation and expand its market presence in civil aviation services[71]. - The company is committed to improving resource allocation efficiency and enhancing core competitiveness through professional integration of its subsidiaries[69]. - The company aims to achieve an operating revenue of 24.271 billion yuan in 2025, representing a year-on-year growth of 1.64%[74]. - The defense business revenue is expected to slightly increase, while the civil aviation business is anticipated to maintain a growth trend[74]. - The company plans to enhance its competitiveness in the airborne systems industry by the end of the 14th Five-Year Plan, focusing on professional integration and innovation capabilities[72]. - The company is positioned as a leading domestic airborne systems supplier, supporting the development of low-altitude economy products such as helicopters and drones[72]. Shareholder Information - The proposed cash dividend is RMB 0.70 per 10 shares, totaling RMB 338,722,764.10, which accounts for 32.55% of the net profit attributable to shareholders in 2024[4]. - The total cash dividend distributed over the last three accounting years amounted to RMB 1,519,413,541.82, with a cumulative buyback and cancellation amount of RMB 150,735,168.02, leading to a total of RMB 1,670,148,709.84[121]. - The average net profit over the last three accounting years was RMB 1,266,352,973.15, resulting in a cash dividend ratio of 131.89%[121]. - The company has a total of 353,857,040 shares issued, with 271,762,208 shares currently in circulation[191]. - The total number of ordinary shareholders as of the end of the reporting period is 190,393, an increase from 184,679 at the end of the previous month[193]. - The top shareholder, AVIC Aircraft Systems Co., Ltd., holds 1,242,768,901 shares, representing 25.68% of the total shares[195]. - The second-largest shareholder, AVIC Aviation Industry Corporation, holds 798,476,553 shares, accounting for 16.5% of the total shares[195]. Investment and Financing - The company raised a total of RMB 496,524.99 million through stock issuance, with a cumulative investment of RMB 357,205.29 million by the end of the reporting period, achieving an investment progress of 71.94%[177]. - The "Aviation Air Supply Subsystem and Other Onboard Products Capacity Enhancement Project" has a total investment of RMB 72,110.00 million, with RMB 13,654.56 million invested this year, representing 18.94% of the total investment[177]. - The company approved the use of RMB 28,752.27 million of raised funds to replace pre-invested project funds and cover issuance costs, which has been completed by the end of the reporting period[181]. - The company plans to continue using up to RMB 17 billion of temporarily idle raised funds for cash management, with a focus on safe and liquid investment products[183]. - The company has signed deposit agreements with three banks for managing the raised funds, ensuring interest payments at agreed rates[183].