公司已签署投资协议，并于近日完成深圳轻快世界科技 有限公司（即新设子公司）相关工商注册登记手续，已取得 了深圳市市场监督管理局颁发的《营业执照》。 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、对外投资概述 中航航空高科技股份有限公司（以下简称"公司"）于 2024 年 10 月 18 日召开第十一届董事会 2024 年第四次会议 审议通过了《关于公司拟与中航制造、长盛科技共同设立子 公司暨关联交易的议案》，详见公司于 2024 年 10 月 19 日 披露的《中航航空高科技股份有限公司关于投资新设子公司 暨关联交易的公告》（临 2024-029 号）。 二、对外投资进展 证券代码：600862 证券简称：中航高科 公告编号：临 2024-039 号 中航航空高科技股份有限公司 关于对外投资的进展公告 特此公告。 中航航空高科技股份有限公司董事会 2024 年 12 月 16 日 1 ...

Summary of the Conference Call for AVIC High-Tech Industry Overview - The aerospace auxiliary materials sector is characterized by high urgency due to significant increases in application ratios in new aircraft models, such as the G35, which enhance performance in military and drone applications [2][3] - The demand for military aviation composite materials in China is projected to reach approximately 18,000 tons over the next decade, with further increases anticipated due to drone requirements [4][5] - In the civil aviation sector, the usage ratio of composite materials in advanced foreign aircraft has reached 50%, while domestic models like the C919 currently utilize about 12%, with the CR929 expected to reach 50% [2][6][8] - The potential demand for auxiliary materials in China's civil aviation market over the next 20 years is estimated at around 110,000 tons, with general aviation and drones contributing an additional 20,000 tons and over 2,500 tons, respectively [2][9][10] Key Insights and Arguments - The demand for composite materials in drones is particularly stringent due to weight reduction requirements, with composites making up 50%-80% of their structure [7][11] - AVIC High-Tech holds a monopolistic position in the prepreg market, benefiting from the ramp-up of new aircraft models and expansion into the civil market, although it faces pressure on profit margins [2][26] - The company’s performance this year has been subpar, primarily due to the transition between old and new aircraft models, but it is expected to recover to mid-to-high growth rates in the coming years [32][33] Investment and Market Dynamics - Investment in the aerospace supply chain should focus on the carbon fiber segment, where military applications are concentrated and competition in the civil sector is intense, leading to price pressures [12][20] - Prepregs are identified as a critical intermediate product with significant cost-saving potential, although the downstream forming processes are highly concentrated and influenced by aircraft design complexities [13][14] - The breakthrough in high-performance carbon fiber technology is crucial for promoting the application of composite materials, with domestic production of T800 grade carbon fiber already achieved [15][16] Company-Specific Developments - AVIC High-Tech has made significant strides in expanding its civil aviation market presence, including the establishment of joint ventures for producing components and materials [28][29] - The company’s competitive advantage in the high-end civil aviation market stems from its stable product quality and safety, leveraging its military aviation experience [29] - The overall gross margin for AVIC High-Tech was reported at 36.75%, which is relatively low compared to upstream and downstream players, indicating room for improvement through efficiency and supply chain management [31] Future Outlook - The company is expected to see a gradual increase in new model production and civil market expansion, with initiatives aimed at cost reduction and efficiency improvements to enhance profitability [33][34] - AVIC High-Tech is positioned as a key player in the aerospace materials sector, with potential for growth driven by both military and civil aviation demands [30][33]

Summary of Conference Call Notes Industry Overview - The conference discusses the aerospace composite materials industry, highlighting its growth potential and the increasing application of composite materials in both military and civilian aviation sectors [1][10]. - The introduction of new aircraft models, such as JMS and the 919, is expected to drive a new phase of rapid development in the composite materials sector [1]. Key Insights and Arguments - Composite materials significantly enhance aircraft performance by reducing weight and improving stealth capabilities, which is crucial for military applications [2]. - The use of composite materials in military drones has reached 50% to 80% of their structural weight, indicating a strong trend towards increased utilization in unmanned aerial vehicles [3]. - The application of composite materials in civilian aviation has historically been low in China, but recent advancements in technology and production capacity are expected to boost their usage [4][5]. - The 919 aircraft is projected to use up to 50% composite materials, marking a significant shift in the industry [6]. Market Dynamics - The civilian aviation market is anticipated to become a larger segment for composite materials, with a notable increase in demand for general aviation and electric vertical takeoff and landing (eVTOL) aircraft [8][9]. - The global eVTOL market is expected to see annual production exceeding 10,000 units by 2030, further driving demand for composite materials [9]. Competitive Landscape - The competitive landscape in the carbon fiber segment differs between military and civilian applications, with domestic players gaining ground in the civilian market [10][11]. - The production of prepreg (pre-impregnated composite materials) is highlighted as a critical intermediary step in the composite manufacturing process, with significant barriers to entry due to the need for specialized design and manufacturing capabilities [12][13]. Cost and Efficiency Considerations - The industry faces pressure for cost reduction, particularly in military applications, which may impact revenue and profit margins [18]. - Scale effects in carbon fiber production are crucial, as high manufacturing costs necessitate larger production volumes to maintain profitability [19]. - Technological advancements in manufacturing processes are essential for reducing costs in composite material production [20][22]. Company-Specific Insights - The company, referred to as "高科," is positioned as a leader in the aerospace composite materials sector, with a strong focus on both military and civilian applications [23][24]. - 高科 has established a dominant position in the prepreg market, leveraging its collaboration with aviation manufacturing institutes [25]. - The company is expanding its presence in the civilian market, particularly in high-end applications, and is expected to benefit from increased demand in this segment [27][28]. - Despite current lower profit margins compared to competitors, there is potential for improvement through operational efficiencies and scale [30]. Future Outlook - The company is expected to experience growth in both military and civilian sectors, with new aircraft models contributing to increased production volumes [31]. - The long-term outlook for 高科 is positive, with anticipated improvements in profitability and market position as the industry evolves [32]. Conclusion - The aerospace composite materials industry is poised for significant growth, driven by advancements in technology and increasing applications in both military and civilian aviation. The company 高科 is well-positioned to capitalize on these trends, making it a noteworthy investment opportunity.

北京市嘉源律师事务所 北京市嘉源律师事务所 关于中航航空高科技股份有限公司 2024 年第二次临时股东大会的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 二〇二四年十一月 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：中航航空高科技股份有限公司 关于中航航空高科技股份有限公司 2024 年第二次临时股东大会的法律意见书 嘉源(2024)-04-859 北京市嘉源律师事务所（以下简称"本所"）受中航航空高科技股份有限公 司（以下简称"公司"）委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东大会规则》（以下简称"《股东大会规则》"）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 航航空高科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定， 指派本所律师对公司 2024 年第二次临时股东大会（以下简称"本次股东大会"） 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大会，查阅了公司 ...

证券代码：600862 证券简称：中航高科 公告编号：2024-038 号 中航航空高科技股份有限公司 2024 年第二次临时股东大会决议公告 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 | 1、出席会议的股东和代理人人数 | 1,118 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 820,508,197 | | 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 | | | 份总数的比例（%） | 58.9001 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，现场会议由董事长姜波主持。会议采用现 (一) 股东大会召开的时间：2024 年 11 月 26 日 (二) 股东大会召开的地点：北京市朝阳区东三环中路乙 10 号北京艾维克酒店 四层第一会议室 (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： 场投票和网络投票相结合的表 ...

Investment Rating - The investment rating for the company is "Add" [1][20][23] Core Views - The company reported a steady growth in revenue and profit for the first three quarters of 2024, achieving an operating income of 3.821 billion yuan, a year-on-year increase of 5.48%, and a net profit attributable to shareholders of 912 million yuan, up 8.00% year-on-year [2][5][6] - The gross margin and net margin have increased, with the gross margin for the first three quarters of 2024 at 38.52%, up 1.08 percentage points year-on-year [13][15] - The company is enhancing its control over the industrial chain by investing in Longsheng Technology and establishing a new subsidiary focused on the low-altitude economy [19][20] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved an operating income of 3.821 billion yuan, completing 76.42% of its annual operating plan, and a total profit of 1.074 billion yuan, completing 83.80% of its annual plan [5][6] - The net profit attributable to shareholders for Q3 2024 was 308 million yuan, a year-on-year increase of 5.25% [6][10] Revenue and Profitability - The revenue from the aerospace new materials business reached 3.772 billion yuan, a year-on-year increase of 6.19%, while the advanced manufacturing technology business reported revenue of 45.468 million yuan, up 4.64% year-on-year [10][11] - The company maintained a gross margin of 38.52% for the first three quarters of 2024, with a net margin of 23.87% [13][15] Cash Flow and Receivables - The net cash flow from operating activities for the first three quarters of 2024 was 142 million yuan, a decrease of 61.51% year-on-year, primarily due to reduced sales receipts [16][18] - Accounts receivable increased significantly, reaching 4.511 billion yuan, up 105.27% from the beginning of the year [18] Strategic Initiatives - The company invested 342 million yuan to acquire a 20% stake in Longsheng Technology to enhance its industrial chain control capabilities [19] - A new subsidiary, Shenzhen AVIC Aviation Manufacturing Technology Innovation Center Co., Ltd., is being established to focus on low-altitude economy projects [19][20] Earnings Forecast - The company maintains its profit forecast, expecting net profits attributable to shareholders of 1.146 billion yuan, 1.322 billion yuan, and 1.521 billion yuan for 2024, 2025, and 2026 respectively [20]

Business Development and Strategic Investments - The company is focusing on the development of low-altitude economy business, leveraging its technical advantages in prepreg and structural components, and has approved the establishment of a subsidiary in Shenzhen to advance this sector [2] - The company invested 341.6 million yuan to acquire a 20% stake in Changsheng (Langfang) Technology Co Ltd, aiming to strengthen the aviation composite materials industry chain and enhance supply chain resilience [3] - The company is actively promoting the reform of its equipment business, focusing on aviation-specific equipment, tooling molds, and aviation components to drive the transformation and upgrading of traditional businesses [3] Capacity Building and Market Expansion - The company has preliminarily built a digital prepreg production line, which is expected to improve production efficiency and product quality, with operations planned to start by the end of the year [3] - The Nantong carbon material production line has been completed and put into operation, effectively increasing production capacity [3] - The company is accelerating the construction of commercial engine composite component production capacity in Shanghai, aiming to achieve delivery capabilities by the end of the year [4] Joint Ventures and Strategic Partnerships - The company, in collaboration with China Aero Engine Commercial Aircraft Engine Co Ltd, has established a joint venture focused on composite materials for commercial engines, with operations expected to generate revenue by 2025 [4] Corporate Governance and Incentives - The company is actively considering and advancing equity incentive plans, particularly in market-oriented business areas [4] Product Development and Delivery - The company has completed material development for its large aircraft business and is currently in the verification phase [5] - Delivery cycles vary by product type, with the company continuously monitoring quality and delivery progress to meet customer needs [5] Future Planning and Technological Innovation - The company is conducting the "15th Five-Year Plan"论证, focusing on deepening civil aircraft, low-altitude economy, and international businesses, while optimizing industrial layouts and advancing cutting-edge technology research [5]

证券代码：600862 证券简称：中航高科 公告编号：临 2024-037 号 中航航空高科技股份有限公司 关于召开 2024 年第二次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第二次临时股东大会 召开的日期时间：2024 年 11 月 26 日 14 点 50 分 召开地点：北京市朝阳区东三环中路乙 10 号北京艾维克酒店四层第一会议 股东大会召开日期：2024年11月26日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 11 月 26 日 至 2024 年 11 月 26 日 采用上海证券交易所网络投票系统， ...

中航高科 2024 年第二次临时股东大会 会议材料 二零二四年十一月二十六日 中航航空高科技股份有限公司 2024 年第二次临时股东大会 会议材料 中航高科 2024 年第二次临时股东大会 会议材料 中航航空高科技股份有限公司 2024 年第二次临时股东大会材料目录 ※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※ | 2024 | 年第二次临时股东大会议程 | 2 | | --- | --- | --- | | 关于变更公司 | 2024 年度财务和内控审计机构的议案 | 4 | 1 中航高科 2024 年第二次临时股东大会 会议材料 中航航空高科技股份有限公司 2024 年第二次临时股东大会议程 时间：2024年11月26日下午14时50分 地点：北京市朝阳区东三环中路乙10号北京艾维克酒店四层 第一会议室 主持人：姜波 中航高科董事长 议程： 5. 现场投票； 2 1. 主持人宣布股东登记情况及出席本次股东大会的股东及 代理人持股情况； 2. 主持人宣布会议开始； 3. 审议《关于变更公司2024年度财务和内控审计机构的议 案》； 4. 就上述议案进行表决，表决前由主持人宣 ...

中航航空高科技股份有限公司监事会 证券代码：600862 证券简称：中航高科 公告编号：临 2024－034 号 2024 年 11 月 9 日 中航航空高科技股份有限公司 第十一届监事会 2024 年第四次会议决议公告 表决情况：3 票同意，0 票反对，0 票弃权。 特此公告。 本公司监事会及全体监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。 2024 年 11 月 4 日，中航航空高科技股份有限公司（简称"公司"） 第十一届监事会 2024 年第四次会议（临时会议）以电子邮件或书面 方式通知，并于 2024 年 11 月 8 日以通讯表决方式召开。应到监事 3 人，实到监事 3 人。与会监事认真审议了上会议案，经书面投票表决， 形成了如下决议： 审议通过了《关于公司全资子公司中国航空工业集团复材签订技 术实施许可协议暨关联交易的议案》。 ...