关于四创电子股份有限公司股票交易 异常波动函的回函 四创电子股份有限公司: 你公司发来的《关于四创电子股份有限公司股票交易异 常波动沟通函》已收悉。经自查核实,现就相关问题回复如 下: 一、截至本回函出具日,本公司不存在涉及你公司的应 披露而未披露的重大信息,包括但不限于其他重大资产重组、 股份发行、收购、债务重组、业务重组、资产剥离、资产注 入、股份回购、股权激励、破产重整、重大业务合作、引进 战略投资者等重大事项。 二、本公司确认,在股票交易异常波动期间(2025年8 月 15 日、8月18 曰、8月19日),不存在买卖你公司股票 的情形。 特此回函! 中国传 ...

四创电子股份有限公司 股票交易异常波动公告 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： 四创电子股份有限公司(以下简称"公司")股票于 2025 年 8 月 15 日、8 月 18 日、 8 月 19 日连续三个交易日内日收盘价格涨幅偏离值累计超过 20%。根据《上海证券交易所交 易规则》的有关规定，属于股票交易异常波动情形。 经公司自查并向控股股东及实际控制人书面函询核实，截至本公告披露日，公司不 存在应披露而未披露的重大信息。 公司严格按照有关法律法规的规定和要求，认真履行信息披露义务，及时做好信息 披露工作，敬请广大投资者关注相关公告，理性投资，注意投资风险。 一、股票交易异常波动的具体情况 证券代码：600990 股票简称：四创电子 编号：临 2025-020 （二）重大事项情况 经自查，并向公司控股股东中电博微电子科技有限公司及实际控制人中国电 子科技集团有限公司函证核实：截至本公告披露日，除了在指定媒体上已公开披 1 公司股票交易于2025年8月15日、8月18日、8月19日连续三个交易日内日收 ...

证券之星消息，8月19日军工电子板块较上一交易日下跌1.02%，景嘉微领跌。当日上证指数报收于 3727.29，下跌0.02%。深证成指报收于11821.63，下跌0.12%。军工电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600590 | 泰家科技 | 11.72 | 10.05% | 21.58万 | 2.53亿 | | 600990 | 四创电子 | 35.07 | 10.01% | 42.04万 | 14.06亿 | | 002231 | *ST奥维 | 4.62 | 5.00% | ● 1.36万 | 629.89万 | | 688272 | 富吉瑞 | 29.62 | 4.08% | 2.67万 | 7736.05万 | | 688175 | 高凌信息 | 22.72 | 3.93% | 3.34万 | 7560.25万 | | 688629 | 华丰科技 | 64.58 | 2.74% | 21.70万 | 13.99亿 | | 002214 | *S ...

（文章来源：每日经济新闻） 每经AI快讯，8月19日，可控核聚变概念回暖，金田股份涨停，四创电子涨超5%，聚光科技、辰光医 疗、常辅股份等个股跟涨。 ...

Market Performance - The military electronics sector increased by 1.87% on August 18, with Kesi Technology leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Top Gainers in Military Electronics - Kesi Technology (688788) closed at 93.76, up 15.40% with a trading volume of 77,400 shares and a transaction value of 206.9 million [1] - Jinxin Technology (300252) closed at 14.12, up 11.89% with a trading volume of 1,136,600 shares and a transaction value of 1.544 billion [1] - Sichuang Electronics (600990) closed at 31.88, up 10.01% with a trading volume of 148,100 shares and a transaction value of 458 million [1] Market Capital Flow - The military electronics sector experienced a net outflow of 6.9604 million from institutional investors, while retail investors saw a net inflow of 4.49 billion [2][3] - The overall trend indicates that while institutional funds are withdrawing, retail investors are actively buying into the sector [2][3] Individual Stock Fund Flow - Sichuang Electronics (600990) had a net inflow of 133 million from institutional investors, but a net outflow of 75.022 million from speculative funds [3] - Tianhe Defense (300397) saw a net inflow of 97.6625 million from institutional investors, with significant outflows from both speculative and retail investors [3] - Kesi Technology (300252) had a net inflow of 63.8475 million from institutional investors, while speculative funds experienced a net outflow of 45.7564 million [3]

Group 1 - The core viewpoint of the news is the significant surge in military stocks in the A-share market, with multiple stocks hitting the daily limit up [1] - A press conference is scheduled by the State Council Information Office on August 20, 2025, to discuss preparations for a military parade, which may influence investor sentiment towards military-related stocks [1] Group 2 - Notable stocks that reached the daily limit include Gaolan Co., Zhongke Haixun, Lingyun Co., Tiantong Co., and several others, indicating strong market interest in the defense sector [1] - The table lists various companies with their respective stock performance, showing significant year-to-date gains, such as Kesh Technology with a 335.85% increase and Gaolan Co. with a 53.47% increase [2] - The MACD golden cross signal formation suggests a positive trend for these stocks, reinforcing the bullish sentiment in the military sector [2]

Group 1 - The core concept of low-altitude economy refers to economic activities involving manned and unmanned aerial vehicles operating below 1000 meters, aimed at alleviating ground traffic pressure and enhancing operational efficiency in various scenarios [9][10] - The low-altitude economy has been recognized as a strategic emerging industry by the Chinese government, with significant policy support and a coherent implementation framework established [11][14] - The market size of China's low-altitude economy reached 505.95 billion yuan in 2023, with a growth rate of 33.8%, and is expected to exceed 1 trillion yuan by 2026 [2][30] Group 2 - The low-altitude economy is characterized by over 8000 companies, with a significant focus on drone and eVTOL sectors, which are attracting substantial capital investments [2][36] - In 2024, there were 139 financing events in the low-altitude economy, totaling 32.104 billion yuan, with eVTOL financing increasing by 310% year-on-year [2][36] - The development of low-altitude economy is supported by a multi-tiered legislative framework, including the implementation of regulations for unmanned aerial vehicles and the establishment of dedicated government agencies [15][16] Group 3 - Local governments across 30 provinces have prioritized the low-altitude economy, with initiatives such as the launch of interprovincial low-altitude passenger routes and the establishment of urban air traffic demonstration centers [19][20] - The low-altitude economy is expected to drive new economic growth points, with applications in logistics, emergency rescue, and urban transportation becoming increasingly prominent [10][30] - The integration of advanced technologies such as AI and 5G is anticipated to further enhance the development of the low-altitude economy, leading to a more robust and innovative industry landscape [11][12]

天眼查商业履历信息显示，四创电子股份有限公司，成立于2000年，位于合肥市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本27328.9812万人民币，实缴资本27328.9812 万人民币。公司法定代表人为张成伟。 通过天眼查大数据分析，四创电子股份有限公司共对外投资了7家企业，参与招投标项目5000次，知识 产权方面有商标信息10条，专利信息1174条，此外企业还拥有行政许可40个。 金融界消息 截至2025年8月6日收盘，四创电子（600990）报收于28.76元，上涨3.49%，换手率8.77%， 成交量23.59万手，成交金额6.74亿元。 资金流向方面，今日主力资金净流入7107.61万元，占比成交额10.55%。其中，超大单净流入8035.12万 元、占成交额11.93%，大单净流出927.50万元、占成交额1.38%，中单净流出流出2528.22万元、占成交 额3.75%，小单净流出4579.39万元、占成交额6.8%。 四创电子最新一期业绩显示，截至2025一季报，公司营业总收入2.93亿元、同比减少13.67%，归属净利 润2112.98万元，同比减少178.96% ...

Investment Rating - The report maintains an investment recommendation for the controllable nuclear fusion sector, indicating a positive outlook for future developments in this area [1]. Core Insights - The report emphasizes that controllable nuclear fusion is seen as a potential ultimate energy solution, with significant advancements expected in the coming years as the industry transitions from experimental to engineering phases [4][14]. - Domestic projects are progressing beyond expectations, with increased capital investment from various sectors, indicating a robust growth trajectory for the industry [18][22]. - Internationally, countries like the United States are accelerating their nuclear fusion initiatives, which could further enhance the global market for fusion energy [23][24]. Summary by Sections 1. Controllable Nuclear Fusion: A Frontier Technology - Controllable nuclear fusion is highlighted as a solution to energy challenges, with abundant fuel reserves and sustainability potential [14][15]. - The report outlines the four key stages of nuclear fusion development: scientific feasibility verification, engineering feasibility verification, demonstration reactors, and commercial application reactors [27][30]. 2. Investment Opportunities - The report forecasts a capital expenditure exceeding 145.5 billion yuan in the next 3-5 years, with annual investments potentially reaching close to 10 billion yuan [6][45]. - Key components of the nuclear fusion technology, such as magnets, vacuum chambers, and power systems, are identified as high-value segments within the industry [7][49]. 3. Industry Chain Analysis - The industry chain is segmented into upstream strategic materials, midstream high-end manufacturing, and downstream operational management [8]. - Specific companies are recommended for investment, including China Nuclear Power, Lianchuang Optoelectronics, and Sihua Electronics, which are involved in various aspects of nuclear fusion technology [8][46]. 4. Key Company Introductions - China Nuclear Power is noted for its investment in China Fusion Energy Company, positioning itself for long-term growth in the nuclear sector [8]. - Lianchuang Optoelectronics is recognized for its advancements in high-temperature superconducting magnets and participation in significant projects like the Spark-1 [8]. - Sihua Electronics is highlighted for its successful bids in key projects, indicating strong market positioning in the nuclear fusion space [8].

Investment Rating - The report indicates a positive outlook for the controlled nuclear fusion industry, suggesting that companies with leading technologies and core component supply capabilities are likely to benefit first as fusion devices are deployed [3]. Core Insights - Controlled nuclear fusion is viewed as a clean, safe, and sustainable ultimate energy source, with significant potential for large-scale commercialization in the future [4][8]. - The report highlights the importance of the Lawson criterion and the Q factor in achieving sustainable fusion reactions, emphasizing that meeting these conditions is crucial for commercialization [17][18]. - The global landscape for fusion energy is rapidly evolving, with multiple countries, including the US, UK, Germany, and Russia, actively pursuing fusion power projects expected to come online in the 2030s [34][36]. Summary by Sections 1. Development Window for Controlled Nuclear Fusion - The report notes that the domestic and international fusion energy sector is entering a critical development phase, with significant projects underway [5][34]. - Key projects include the Hefei BEST project in China, which aims to be the world's first to conduct steady-state deuterium-tritium combustion by 2027 [52]. 2. What is Controlled Nuclear Fusion? - Controlled nuclear fusion is characterized by high energy release efficiency, safety, abundant fuel sources, and minimal environmental pollution [4][8]. - The primary fuels for fusion are deuterium and tritium, with deuterium being readily available from water and tritium produced through lithium reactions [8][11]. 3. Technical Pathways for Controlled Nuclear Fusion - Magnetic confinement is identified as the most effective method for achieving fusion energy, with the Tokamak design being the most widely researched and developed [18][19]. - The report discusses advancements in high-temperature superconductors and AI technology that enhance plasma control and reduce the size and cost of fusion devices [26][27]. 4. Progress in Controlled Nuclear Fusion - The report outlines significant international efforts, including the ITER project, which aims to demonstrate the feasibility of fusion energy by achieving a Q factor greater than 10 [38][43]. - Various countries are ramping up investments in fusion energy, with the US planning to build the world's first fusion power plant by 2028 [34][35]. 5. Beneficiary Companies - The report identifies several companies poised to benefit from the growth of the fusion energy sector, including those involved in magnet systems, high-temperature superconductors, vacuum chambers, and other supporting technologies [3].