证券代码：600990 证券简称：四创电子 公告编号：临 2025-031 四创电子股份有限公司 四创电子股份有限公司董事会 2025 年 12 月 10 日 姓名 离任职务 离任时间 原定任期到 期日 离任原因 是否继续在 上市公司及 其控股子公 司任职 具体职务 是否存在 未履行完 毕的公开 承诺 任小伟 总经理 2025 年 12 月 9 日 2027 年 7 月 17 日 工作调动 是 四创电子董事、董事会战略委员会委 员以及提名委员会委员、子公司华耀 电子董事长、子公司博微长安董事长 否 一、离任的基本情况 关于公司总经理离任的公告 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法律责任。 二、离任对公司的影响 根据《公司法》《公司章程》的有关规定，任小伟先生离任不会对公司的日 常生产经营产生不利影响，其辞职报告自送达董事会时生效，不存在应当履行而 未履行的承诺事项。因聘任新任总经理尚需履行相应的程序，为确保公司在总经 理岗位空缺期间经营管理工作的有序开展，公司董事会同意董事任小伟先生继续 履行公司总经理职责，期限自本次董事会 ...

证券代码：600990 证券简称：四创电子 公告编号：2025-033 四创电子股份有限公司 关于召开2025年第二次临时股东会的通知 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)股东会类型和届次 2025年第二次临时股东会 (四)现场会议召开的日期、时间和地点 至2025 年 12 月 25 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者 的投票，应按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范运 作》等有关规定执行。 召开的日期时间：2025 年 12 月 25 日 14 点 30 分 召开地点：四创电子高新区会议室 (五)网络投票的系统、 ...

同意8票，反对0票，弃权0票。 二、审议通过《关于召开2025年第二次临时股东会的议案》 公司拟定于2025年12月25日（星期四）下午14:30召开2025年第二次临时股 东会。 证券代码：600990 证券简称：四创电子 公告编号：临 2025-032 四创电子股份有限公司 八届十一次董事会决议公告 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。 四创电子股份有限公司（以下简称"公司"）八届十一次董事会于2025年12 月9日以现场结合通讯方式召开。会议应到董事8人，实到董事8人。会议的召集 和召开符合《公司法》《公司章程》的有关规定，会议审议并通过了以下事项： 一、审议通过《关于同意董事任小伟先生继续履行总经理职责的议案》 因聘任新任总经理尚需履行相应的程序，为确保公司在总经理岗位空缺期间 经营管理工作的有序开展，公司董事会同意董事任小伟先生继续履行公司总经理 职责，期限自本次董事会审议通过之日起至董事会聘任新任总经理之日止。 同意8票，反对0票，弃权0票。具体内容详见公司在上海证券交易所网站 （www.sse.com. ...

（记者 王瀚黎） 每经AI快讯，四创电子（SH 600990，收盘价：29.61元）12月9日晚间发布公告称，公司总经理任小伟 离任。因聘任新任总经理尚需履行相应的程序，为确保公司在总经理岗位空缺期间经营管理工作的有序 开展，公司董事会同意董事任小伟先生继续履行公司总经理职责，期限自本次董事会审议通过之日起至 董事会聘任新任总经理之日止。 2024年1至12月份，四创电子的营业收入构成为：感知产品占比42.22%，感知基础占比30.72%，感知应 用占比26.24%，其他业务占比0.83%。 截至发稿，四创电子市值为80亿元。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 ...

公告明确，华北光电技术研究所（中国电子科技集团公司第十一研究所）因存在违规分包问题，依据《军队物 资工程服务供应商管理规定》等相关法规，自2025年11月26日起，该所被暂停参加全军物资工程服务采购活动 的资格。违规分包行为不仅可能影响采购项目的质量与进度，更违背了军队采购对供应商履约能力和合规性的 严格要求，损害了采购活动的严肃性与公正性。 近日，军队采购网发布重要公告，中国电子科技集团公司旗下两家研究所因存在违规行为，被依法暂停参加全 军物资工程服务采购活动资格。 另一则公告显示，中国电波传播研究所（中国电子科技集团公司第二十二研究所）在投标过程中存在提供虚假 材料的违规情形。同样依据军队供应商管理相关规定，该所的军队采购参与资格自2025年12月3日起被暂停。投 标材料的真实性是军队采购项目评审、中标结果确定的重要基础，提供虚假材料的行为严重破坏了公平竞争的 市场环境，也违反了供应商的诚信义务。 据了解，军队采购活动始终将合规性与公信力放在首位，对供应商的违规行为坚持"零容忍"态度。此次对两家 科研单位的处理，并非仅针对机构本身。参照军队采购领域既往处罚原则，相关违规主体的自然人控股股东、 法定代表人控 ...

Investment Rating - The report maintains a recommendation for investment in the nuclear fusion sector, indicating a positive outlook for the industry [1]. Core Insights - China's launch of the international scientific program in the fusion field is expected to enhance the country's capabilities and foster global collaboration in overcoming challenges in fusion combustion physics [8][9]. - The ITER project has reached a significant milestone with the completion of the installation of the fifth vacuum chamber sector, which is crucial for the project's timeline and future stability [9]. - The development of ship-based fusion reactors by Maritime Fusion could revolutionize the shipping energy landscape, aligning with global decarbonization goals [15]. - An Tai Technology has secured significant contracts, showcasing its strong technical capabilities in the fusion component sector [16]. Summary by Sections Industry Developments - The international scientific program for fusion initiated by the Chinese Academy of Sciences aims to consolidate global scientific efforts and enhance China's leadership in superconducting tokamak research [8]. - The ITER project is on track to complete all nine sectors by 2027, with recent successful installations marking key progress [9]. Technological Advancements - Maritime Fusion's initiative to develop a ship-mounted fusion reactor represents a potential shift in maritime energy sources, targeting zero emissions and significant market disruption [15]. Company-Level Insights - An Tai Technology has won contracts worth 70 million yuan for key fusion components, indicating its competitive edge in the market [16]. - The report highlights several companies for investment, including Lianchuang Optoelectronics and Hezhu Intelligent, while suggesting attention to Guoguang Electric [3][35]. Market Trends - The report notes a significant increase in bidding activities for fusion projects, with November alone seeing a total bidding amount of 2.58 billion yuan, indicating a robust growth trajectory for the sector [25][30]. - The overall market for controlled nuclear fusion is projected to reach 146.5 billion yuan in the next 3-5 years, marking a peak in project tenders [7].

Core Viewpoint - The Shanghai Composite Index closed at 3836.77 points, slightly above the annual line, with a change of 0.05%. The total trading volume of A-shares reached 1.74035 trillion yuan, indicating active market participation [1]. Group 1: Market Performance - As of the latest data, 251 A-shares have surpassed the annual line, with notable stocks showing significant deviation rates, including: - Shanshui Bide with a deviation rate of 10.94% - Aerospace Software at 9.02% - Sichuan Chuang Electronics at 6.12% [1]. - Stocks with smaller deviation rates that have just crossed the annual line include: - Naike Equipment - Rong'an Real Estate - Whirlpool [1]. Group 2: Individual Stock Highlights - The top stocks with the highest deviation rates and their respective performance metrics are: - Shanshui Bide (300844): Increased by 15.41% with a turnover rate of 5.63%, latest price at 42.40 yuan [1]. - Aerospace Software (688562): Increased by 9.26% with a turnover rate of 8.48%, latest price at 18.65 yuan [1]. - Sichuan Chuang Electronics (600990): Increased by 7.82% with a turnover rate of 4.75%, latest price at 26.20 yuan [1]. - Other notable stocks include: - Hand Information (300170): Increased by 8.54% [1]. - Tianyu Digital (002354): Increased by 6.18% [1].

Group 1 - The A-share index turned positive in the afternoon, with sectors like Pinduoduo, China Shipbuilding, and commercial aerospace leading the gains. The Universal Aviation ETF (159230) rose by 3.4%, with stocks like Leike Defense hitting the daily limit and Chenxi Aviation increasing by 9.82% [1] - The 2025 Hunan (International) General Aviation and Low-altitude Economy Industry Expo was held in Hunan, focusing on the theme "Developing Low-altitude Economy, Leading a Better Life." The expo covered an area of 60,000 square meters and featured over 20 key activities, attracting more than 200 leading enterprises [1] - Hunan has made significant progress in low-altitude economic development, establishing a verification test area of 245 square kilometers and laying out 687 low-altitude application scenarios. Various companies are integrating their technologies and products with sectors like agriculture, culture and tourism, emergency response, and education to capitalize on the low-altitude economic opportunities [1] Group 2 - CITIC Construction Investment Securities highlighted the general aviation industry as an important area of new productive forces, emphasizing its foundational attributes in the low-altitude economy. The industry is expected to experience rapid growth driven by supportive policies, continuous technological breakthroughs, and expanding application scenarios [2] - The industry scale of the low-altitude economy is projected to reach 3.5 trillion yuan by 2035, indicating significant growth potential. Additionally, companies in the general aviation sector that have both military and civilian operations are expected to benefit from increased military trade demand amid a backdrop of de-globalization [2]

Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [5] Core Viewpoints - The uncertainty in the Asia-Pacific situation is increasing, which may accelerate the equipment construction in China, focusing on new combat capabilities [2][12] - China's high-end aviation equipment showcased at the Dubai Airshow is expected to further expand the military trade market [12][15] - The Fujian aircraft carrier has conducted its first live training at sea, indicating a significant advancement in operational capabilities and technology [12][18] - The report emphasizes the importance of domestic demand for new combat capabilities and military trade as key growth areas [19] Summary by Sections Investment Suggestions and Targets - The report highlights various investment targets across different segments, including: - Engine and fuel chain: Companies like Xi'an Aero Engine (600893), Western Superconducting (688122), and others [19][20] - New quality and domains: Companies such as Aerospace Electronics (600879), Haige Communication (002465), and others [19][20] - Military electronics: Companies like Aerospace Electric (002025), Zhonghang Optical (002179), and others [19][20] - Military trade and main equipment: Companies such as AVIC Shenyang Aircraft (600760), AVIC Chengfei (302132), and others [19][20] Industry News and Market Performance - The report notes that the defense and military industry index has outperformed the broader market, with a decline of only -1.72% compared to the Shanghai Composite Index's -3.90% [22][25] - The report provides a detailed analysis of weekly market performance, indicating that the defense and military sector remains resilient amid broader market declines [22][25] Key Events and Developments - The report outlines significant recent events, including: - The U.S. government approved a new round of arms sales to Japan, which may heighten regional tensions and prompt China to expedite its military equipment development [12][9] - The successful live training of the Fujian aircraft carrier, showcasing advanced operational capabilities [12][18] - The participation of Chinese high-end military equipment in international exhibitions, enhancing China's presence in the global military trade market [12][15]

Core Viewpoint - The commercial aerospace sector continues to strengthen, with several companies reaching new highs and significant increases in related ETFs [1] Group 1: Company Performance - Srey New Materials, Shanghai Port Bay, and Feiwo Technology hit intraday highs [1] - Aerospace Power, Leike Defense, Aerospace Huanyu, Zhongtian Rocket, Tianjian Technology, Aerospace Changfeng, Jiuzhiyang, and Tendering Co. all experienced a limit-up increase [1] - New Ray Energy, Aerospace Software, Chaojie Co., China Haifang, and Sichuan Chuang Electronic also saw gains [1] Group 2: ETF Performance - The Aviation ETF (159392) rose by 2.7%, with a trading volume of 2.7339 million yuan [1] - The Aerospace ETF (159227) increased by 3.83%, with a trading volume of 21.5 million yuan [1]