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]

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，公司坚持在巩固国内市 场的同时，通过国际转包合作及民机供应链准入，逐步提升国际化水平，未来将深化全球合作。 ...

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，同行业表现差异源于业 务结构及市场定位不同。中航重机在航空锻铸领域保持技术领先，商用航空与民品业务占比有效提升。 ...

Group 1 - The core viewpoint is that the third quarter represents a seasonal low point for industry demand, but there is potential for gradual recovery due to increased production capacity of domestic large aircraft and the release of military trade demand [1] - The company plans to continuously optimize its product structure and increase the proportion of high value-added forgings [1]

中航重机股份有限公司 2025 年第五次临时股东会会议文件 中航重机股份有限公司 2025 年第五次临时股东会 会 议 文 件 中航重机股份有限公司 2025 年 11 月 17 日 中航重机股份有限公司 2025 年第五次临时股东会会议文件 中航重机股份有限公司 2025 年第五次临时股东会会议文件 目 录 | 2025 年第五次临时股东会会议议程 | | 2 | | --- | --- | --- | | 关于聘请 2025 年度审计机构的议案 | | 3 | | 关于修订《公司章程》的议案 | | 4 | 1 中航重机股份有限公司 2025 年第五次临时股东会会议文件 二、会议地点：贵州省贵阳市双龙航空港经济区机场路 16 号中航重机 股份有限公司 307 会议室 三、参加人：（1）公司股东及股东授权委托代表； 四、会议议程： | 时间 | 内 容 | | --- | --- | | 9:00～9:05 | 一、主持人介绍会议议程，宣读监票人、计票人名单,提请会议通过（举 | | | 手表决） | | | 二、全体股东逐项审议会议议案 | | 9:05～9:15 | 1. 《关于聘请 2025 年度审计 ...

Core Viewpoint - 中航重机's stock price has experienced a decline of 18.86% year-to-date, with recent fluctuations indicating a slight recovery in the short term [1][2] Financial Performance - For the period from January to September 2025, 中航重机 reported revenue of 7.776 billion yuan, reflecting a year-on-year growth of 3.35% [2] - The company's net profit attributable to shareholders was 616 million yuan, showing a significant decrease of 39.21% compared to the previous year [2] Stock Market Activity - As of November 12, 中航重机's stock price was 16.51 yuan per share, with a market capitalization of 25.814 billion yuan [1] - The stock has seen a trading volume of 194 million yuan on the same day, with a turnover rate of 0.75% [1] - The stock has experienced a net outflow of 8.5037 million yuan in principal funds, with large orders showing a mixed buying and selling activity [1] Shareholder Information - As of September 30, 2025, 中航重机 had 98,200 shareholders, a decrease of 6.02% from the previous period [2] - The average number of circulating shares per shareholder increased by 12.33% to 15,816 shares [2] Dividend Distribution - 中航重机 has distributed a total of 1.462 billion yuan in dividends since its A-share listing, with 833 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, 富国中证军工龙头ETF and 国投瑞银国家安全混合A have increased their holdings in 中航重机, while 香港中央结算有限公司 has exited the top ten shareholders list [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company reported a revenue of 7.776 billion yuan for the first three quarters of 2025, a year-on-year decrease of 6.59%. The net profit attributable to the parent company was 616 million yuan, down 39.72% year-on-year. The net profit after deducting non-recurring gains and losses was 534 million yuan, a decrease of 44.5% year-on-year. In Q3 2025, the revenue was 2.026 billion yuan, a year-on-year decrease of 12.01% and a quarter-on-quarter decrease of 41.18%. The net profit attributable to the parent company was 124 million yuan, down 57.57% year-on-year and 57.95% quarter-on-quarter. The net profit after deducting non-recurring gains and losses was 54 million yuan, a decrease of 80.04% year-on-year and 81.56% quarter-on-quarter [5][6][13] Summary by Sections Financial Performance - For Q1-Q3 2025, the gross profit margin was 28.32% and the net profit margin was 9.13%. In Q3 2025, the gross profit margin was 25.63% and the net profit margin was 5.46%. The fluctuation in profitability was mainly due to industry cycle adjustments and increased costs such as taxes, R&D expenses, and financial expenses [13] Market Position and Strategy - As an industry leader, the company is actively preparing its capacity to meet new demand cycles. By the end of Q3 2025, the inventory balance was 5.832 billion yuan, an increase of 17.17% compared to the beginning of the period. The balance of construction in progress was 750 million yuan, up 11.77% from the beginning of the period. The balance of contract liabilities was 241 million yuan, a decrease of 47.52% compared to the beginning of the period. The company has obtained supplier qualifications from 46 clients, including major players in the industry, and will further expand into the aerospace forging and gas turbine markets [13]

Core Insights - The aviation equipment sector experienced a significant increase of 2.12% on November 6, with Triangular Defense leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Triangular Defense (300775) saw a closing price of 30.59, with a remarkable increase of 20.01% and a trading volume of 728,800 shares, amounting to 2.218 billion yuan [1] - Aviation Power Technology (600391) closed at 29.24, up 10.01%, with a trading volume of 258,600 shares and a transaction value of 738 million yuan [1] - Other notable performers included: - Parker New Materials (605123): closed at 75.43, up 10.00% [1] - Aerospace Technology (688239): closed at 59.55, up 8.17% [1] - Aviation Technology (688510): closed at 25.64, up 8.05% [1] Capital Flow - The aviation equipment sector saw a net inflow of 1.534 billion yuan from institutional investors, while retail investors experienced a net outflow of 884 million yuan [2][3] - Triangular Defense had a net inflow of 556 million yuan from institutional investors, representing 25.04% of its trading volume [3] - Other stocks with significant institutional inflows included: - Western Superconductor (688122): net inflow of 225 million yuan [3] - Feilihua (300395): net inflow of 217 million yuan [3]