Core Viewpoint - The article provides a comprehensive overview of the hydraulic industry in China, detailing its supply chain, key players, and regional distribution of companies [1][3]. Industry Supply Chain - The upstream of the hydraulic industry consists of three main categories: steel, components, and working media, with steel supplied by major domestic steel enterprises such as Baosteel, Ansteel, and Hebei Steel [3]. - The midstream includes manufacturing companies like Hengli Hydraulic, Shaoyang Hydraulic, and Aidi Precision, which produce hydraulic motors, pumps, valves, cylinders, and systems [1][3]. - The downstream applications span various large engineering sectors, including construction machinery, aerospace, machine tools, agricultural machinery, automotive, and heavy machinery [1]. Regional Distribution - The hydraulic industry is primarily concentrated in Zhejiang and Jiangsu provinces, with Zhejiang having 5,747 hydraulic enterprises and Jiangsu having 3,999 as of October 2025 [5]. - Notable hydraulic companies in Zhejiang include Hengli Hydraulic and Youweili Hydraulic, while Jiangsu features companies like Aidi Precision and Shaoyang Hydraulic [7]. Representative Companies and Financial Performance - Key companies in the hydraulic sector include Hengli Hydraulic, Shaoyang Hydraulic, and Aidi Precision, with their hydraulic-related revenue exceeding 80% of total revenue [8]. - Financial data for representative companies shows Hengli Hydraulic with a hydraulic business revenue of 9.325 billion and a hydraulic-related business ratio of 99.31% [10]. - Aidi Precision reported a hydraulic business revenue of 2.266 billion, with a hydraulic-related business ratio of 83.15% [10].

Core Viewpoint - 中航重机's stock price has experienced a decline of 19.40% year-to-date, with a recent increase of 2.18% on November 24, 2023, indicating potential volatility in the market [2][1]. Financial Performance - For the period from January to September 2025, 中航重机 reported a revenue of 7.776 billion yuan, reflecting a year-on-year growth of 3.35%. However, the net profit attributable to shareholders decreased by 39.21% to 616 million yuan [2]. - The company has cumulatively distributed dividends of 1.462 billion yuan since its A-share listing, with 833 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 24, 2023, 中航重机's stock was trading at 16.40 yuan per share, with a total market capitalization of 25.642 billion yuan. The trading volume reached 113 million yuan, with a turnover rate of 0.45% [1]. - The net inflow of main funds was 1.5611 million yuan, with significant buying and selling activities recorded [1]. Shareholder Structure - As of September 30, 2025, 中航重机 had 98,200 shareholders, a decrease of 6.02% from the previous period. The average number of circulating shares per shareholder increased by 12.33% to 15,816 shares [2]. - Notable institutional holdings include 富国中证军工龙头ETF and 国投瑞银国家安全混合A, which have increased their stakes in the company [3].

Group 1: Company Insights - Aerospace Technology reported Q3 revenue of 603 million, a year-on-year increase of 46.60%, and net profit growth of 26.45%, driven by increased orders for aircraft engines and gas turbines [1] - The company has a backlog of orders amounting to 5.968 billion, primarily from international clients, and has signed long-term agreements to expand its global market presence [1] - Aerospace Technology has received the GE Aviation 2025 Innovation Award for its NISP technology and is experiencing strong demand in the gas turbine market, with rising equipment prices [1] Group 2: Industry Developments - AVIC Heavy Machinery is actively expanding into high-growth sectors such as commercial aerospace, civil aviation, and gas turbines, leveraging its expertise in forging, casting, and hydraulic systems [2] - The company has established stable supply relationships with key players in the commercial aerospace sector and is integrating into the domestic large aircraft supply chain [2] - AVIC Heavy Machinery's gas turbine business is projected to exceed 100 million in revenue by Q3 2025, with clients including GE and Siemens Energy [2] Group 3: Infrastructure and Robotics - Hongrun Construction is focusing on urban infrastructure in the Yangtze River Delta, with an increase in new business volume in Q3 [3] - The company has formed a joint venture to develop humanoid robots and aims to achieve commercialization by 2026, with a target team size of 60-100 [3] - The company is also investing in technology for quadruped robots and plans to expand production capabilities in response to demand [3] Group 4: Smart Driving Technology - Desay SV Automotive is responding to stricter smart driving regulations by enhancing performance and safety features in its products [4] - The company has secured new project orders from major international automotive manufacturers and is expanding its production facilities in Germany and Spain [4] - Desay SV has launched a robot smart base ICube, designed for durability and reliability in robotic applications [4]

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： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年11月17日 (二)股东会召开的地点：贵州省贵阳市双龙航空港经济区小碧布依族苗族乡木头村机场路16号 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 参加会议的股东及股东代表（包括网络和非网络方式）共计767人，代表股份453,660,557股，占公司有 表决权股份总数的比例为29.0148%，均有表决权。其中：以网络方式参加会议有表决票的股东766人， 代表股份23,154,493股，占公司有表决权股份总数的比例为1.4809%。公司董事长冉兴先生主持本次会 议，部分董事、高级管理人员及公司聘请的律师出席了本次会议。本次会议的召集、召开符合《公司 法》及《公司章程》的有关规定，合法有效。 1、公司在任董事9人，出席3人，董事张育松、褚林塘、徐洁、独立董事王立平、王雄元、曹斌因 ...

Core Viewpoint - 中航重机's stock price has experienced a decline of 19.60% year-to-date, with a recent drop of 2.04% on November 18, 2023, indicating potential concerns regarding its financial performance and market sentiment [1]. Financial Performance - For the period from January to September 2025, 中航重机 reported a revenue of 7.776 billion yuan, reflecting a year-on-year growth of 3.35%. However, the net profit attributable to shareholders decreased by 39.21% to 616 million yuan [2]. - Cumulative cash dividends since the A-share listing amount to 1.462 billion yuan, with 833 million yuan distributed over the past three years [3]. Shareholder and Market Activity - As of September 30, 2025, 中航重机 had 98,200 shareholders, a decrease of 6.02% from the previous period. The average number of circulating shares per shareholder increased by 12.33% to 15,816 shares [2]. - The stock's trading activity on November 18, 2023, showed a net outflow of 29.27 million yuan in principal funds, with significant selling pressure observed [1]. Business Segmentation - 中航重机's main business segments include forging (83.02% of revenue), hydraulic integration (17.08%), and other activities (0.59%) [1].

证券代码：600765 证券简称：中航重机 公告编号：2025-074 中航重机股份有限公司 2025年第五次临时股东会决议公告 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： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年11月17日 (二)股东会召开的地点：贵州省贵阳市双龙航空港经济区小碧布依族苗族乡木头村机场路16号 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 参加会议的股东及股东代表（包括网络和非网络方式）共计767人，代表股份453,660,557股，占公司有 表决权股份总数的比例为29.0148%，均有表决权。其中：以网络方式参加会议有表决票的股东766人， 代表股份23,154,493股，占公司有表决权股份总数的比例为1.4809%。公司董事长冉兴先生主持本次会 议，部分董事、高级管理人员及公司聘请的律师出席了本次会议。本次会议的召集、召开符合《公司 ...

北京市嘉源律师事务所 关于中航重机股份有限公司 2025年第五次临时股东会的 法律意见书 量务所 LAW OFFICES 西城区复兴门内大街158号远洋大厦4楼 中国 · 北京 t 霍师雪努所 A YUAN LAW OFFICES 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致:中航重机股份有限公司 北京市嘉源律师事务所 关于中航重机股份有限公司 北京市嘉源律师事务所(以下简称"本所")接受中航重机股份有限公司（以 下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公司法》"） 《上市公司股东会规则》（以下简称"《股东会规则》"）等现行有效的法律、行 政法规、部门规章、规范性文件（以下简称"法律法规"）以及《中航重机股份有 限公司章程》(以下简称"《公司章程》")的有关规定,指派本所律师对公司2025 年第五次临时股东会（以下简称"本次股东会"）进行见证,并依法出具本法律意 见书。 为出具本法律意见书,本所指派律师现场见证了本次股东会,查阅了公司提 供的与本次股东会有关的文件和资料,并进行了必要的审 ...

证券代码：600765 证券简称：中航重机 公告编号：2025-074 中航重机股份有限公司 2025年第五次临时股东会决议公告 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。 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 767 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 453,660,557 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 29.0148 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况 等。 (一) 股东会召开的时间：2025 年 11 月 17 日 (二) 股东会召开的地点：贵州省贵阳市双龙航空港经济区小碧布依族苗族乡 木头村机场路 16 号 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 参加会议的股东及股东代表（包括网络和非网络方式）共计 767 人，代表股 份 453,660,557 股，占公司有表决权股份总数的比例为 29.0148 ...

证券日报网讯中航重机（600765）11月12日在互动平台回答投资者提问时表示，公司产品暂未直接应用 于深海或深地工程，但具备为相关装备提供特种锻铸件的技术能力(如耐高压、耐腐蚀材料)。将持续关 注国家战略需求，拓展业务边界。 ...

Core Viewpoint - The company reported a sequential decline in revenue for the third quarter, primarily due to adjustments in the delivery schedule of certain models and a temporary contraction in industry demand [1] Group 1: Financial Performance - The company's third-quarter revenue decreased compared to the previous quarter [1] - The decline in revenue is attributed to the adjustment in delivery schedules and a phase of reduced industry demand [1] Group 2: Strategic Actions - The company is enhancing inventory management and accounts receivable collection [1] - The company is actively pursuing new order acquisitions to meet its annual targets [1]