每经AI快讯，上海沪工（SH 603131，收盘价：28.54元）12月4日晚间发布公告称，公司第五届第十一 次董事会会议于2025年12月3日在公司会议室以现场结合通讯会议的方式召开。会议审议了《关于修订 <公司章程> 的议案》等文件。 （记者 曾健辉） 2024年1至12月份，上海沪工的营业收入构成为：工业占比99.28%，其他业务占比0.72%。 截至发稿，上海沪工市值为91亿元。 每经头条（nbdtoutiao）——让"铁疙瘩"从数万米高空精准"踩刹车"，中国商业航天"降本复用"只差"最 后一公里"！朱雀之后，同行排队接力 ...

Core Viewpoint - The company has decided to terminate the "Phase I Construction Project of Aerospace Equipment Manufacturing Base" and will permanently allocate the remaining raised funds to supplement working capital [1] Group 1: Project Termination - The board of directors and the supervisory board have approved the termination of the aerospace equipment manufacturing base project [1] - The total planned investment for the project was 246 million yuan, with 190 million yuan intended to be funded from raised capital [1] - As of September 30, 2025, a total of 112 million yuan has been invested in the project, representing a progress rate of 59.08% [1] Group 2: Financial Implications - The remaining raised funds amount to 77.75 million yuan, which will be permanently reallocated to enhance the company's working capital [1]

证 券 研 究 报 告 "制造强国"实干系列周报(11/30期) 证券分析师： 韩强 A0230518060003 屠亦婷 A0230512080003 王珂 A0230521120002 刘正 A0230518100001 马天一 A0230525040004 戴文杰 A0230522100006 黄莎 A0230522010002 武雨桐 A0230520090001 李蕾 A0230519080008 穆少阳 A0230524070009 刘宏达 A0230524020002 刘建伟 A0230521100003 联系人：何佳霖 A0230523080002 2025.12.3 核心观点 www.swsresearch.com 证券研究报告 2 ◼ 商业航天：1）制造及发射端关注份额或价值量在降本趋势下有望维持相对稳定或具备提升潜力的核心标的；2）应用端 关注通信终端基带、射频芯片及相控阵天线配套标的；3）航天科技集团拥有较多体外资产，有较强并购重组预期。重点 关注标的：1）卫星制造：上海瀚迅+臻镭科技+航天电子，2）应用终端：海格通信+国博电子+通宇通讯，3）运营服务： 中国卫通+星图测控+中科星图； ...

Investment Rating - The report provides a positive investment outlook for the commercial aerospace industry, highlighting significant growth opportunities driven by technological advancements and market demand [2]. Core Insights - The commercial aerospace sector is characterized by market-driven activities involving both private and mixed-ownership enterprises, focusing on investment, operation, and risk management across the entire aerospace value chain [2][38]. - Global satellite frequency and orbital resources are becoming increasingly scarce, leading to a surge in satellite constellation construction, with countries competing for these critical resources [2][46]. - The Starlink project by SpaceX is leading the global satellite constellation efforts, while China is rapidly advancing with its own satellite constellation plans [2][47]. - The era of reusable rockets in China is beginning, with several new commercial rocket models expected to launch by the end of 2025, which could accelerate the deployment of low Earth orbit satellite constellations [2][34]. - Investment recommendations include focusing on satellite manufacturing, rocket launching, and space computing, with specific companies highlighted for their potential in these areas [2][34]. Summary by Sections Commercial Aerospace Overview - Commercial aerospace is defined as market-driven activities involving investment, operation, and risk management by enterprises, covering the entire aerospace technology development, manufacturing, launching, and application [2][38]. - The industry is segmented into upstream manufacturing, midstream launching, and downstream application and operation [2][38]. Satellite Industry Overview - The global aerospace industry is projected to reach $415 billion by 2024, with satellite industry revenues estimated at $293 billion [20]. - Satellite services account for 37% of the total satellite industry revenue, while satellite manufacturing and launching services contribute 6.9% and 3.2%, respectively [25]. Satellite Communication Market - The satellite communication market is expected to grow significantly, with China's satellite internet market projected to reach 75.1 billion yuan by 2025 and 151.2 billion yuan by 2030 [34]. - The demand for satellite communication is primarily driven by commercial and government sectors, accounting for 55% and 31% of the market, respectively [28]. Domestic Satellite Constellation Plans - China has ambitious plans for satellite constellations, with three major projects aiming to deploy over 30,000 satellites, including the GW constellation, G60 constellation, and Honghu-3 constellation [79][81]. - As of October 2025, the GW constellation has launched 116 satellites, marking significant progress in China's satellite internet development [84].

MACD金叉信号形成，这些股涨势不错！ 格隆汇12月3日｜A股卫星导航板块短线跳水后快速反弹，上海瀚讯直线涨停创历史新高，上海沪工、陕西华达、华测导航、航天发展、航天智装、天银机 电等跟涨。 ...

每经AI快讯，12月3日，卫星互联网指数盘中下跌2%，成分股呈现普跌态势。亚光科技领跌，跌幅达 5.89%，航天环宇、航宇微、航天宏图跌幅分别为4.47%、4.03%和3.93%，航天智装、上海沪工等多股 跌幅超3%。 ...

| 证券代码：603131 | 证券简称：上海沪工 | 公告编号：2025-061 | | --- | --- | --- | | 债券代码：113593 | 债券简称：沪工转债 | | 上海沪工焊接集团股份有限公司 关于"沪工转债"预计满足赎回条件的提示性公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 上海沪工焊接集团股份有限公司（以下简称"公司"）股票自 2025 年 11 月 12 日起至 2025 年 12 月 2 日已有十个交易日的收盘价不低于"沪工 转债"当期转股价格（即 21.09 元/股）的 130%（即 27.417 元/股）。若 在未来连续十五个交易日内，公司股票仍有五个交易日的收盘价不低于 27.417 元/股，将触发"沪工转债"的有条件赎回条款。公司将于触发 条件当日召开董事会审议决定是否按照债券面值加当期应计利息的价 格赎回全部或部分未转股的可转换公司债券，并及时履行信息披露义务。 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会出具的《关于核准上海沪工 ...

Core Viewpoint - Shanghai Hugong Welding Group Co., Ltd. plans to hold a Q3 2025 performance briefing on December 10, 2025, to discuss its operational results and financial status with investors [2][3][4]. Group 1: Performance Briefing Details - The performance briefing will take place on December 10, 2025, from 11:00 AM to 12:00 PM [2][4]. - The event will be held at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][4]. - Investors can submit questions from December 3 to December 9, 2025, before 4:00 PM, through the Roadshow Center website or via the company's email [2][5]. Group 2: Cash Management Announcement - The company has utilized idle raised funds for cash management, with a maximum daily balance not exceeding 200 million RMB, as approved in previous board meetings [8][9]. - As of the announcement date, the company has redeemed structured deposits from China Everbright Bank and Hangzhou Bank, recovering a total principal of 178 million RMB and earning interest of 467,100 RMB [9][10]. - The total amount of idle raised funds currently under cash management that has not matured is 0 RMB, indicating compliance with the authorized limits set by the shareholders' meeting [10].

| 受托方名称 | | 产品名称 | 认购金额 | 产品 | 实际收益 | | --- | --- | --- | --- | --- | --- | | | | | （万元） | 期限 | （万元） | | 光大银行 | 2025 | 年挂钩汇率对公结构性存款 | 8,800 | 90 天 | 38.500 | | | | 定制第八期产品 401 | | | | | 杭州银行 | | 添利宝结构性存款 | 4,500 | 18 天 | 4.105 | | | | 二、截至本公告日，公司使用闲置募集资金进行现金管理的总体情况 | 证券代码：603131 | 证券简称：上海沪工 | 公告编号：2025-059 | | --- | --- | --- | | 债券代码：113593 | 债券简称：沪工转债 | | 上海沪工焊接集团股份有限公司 关于使用闲置募集资金进行现金管理到期赎回 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、准确性和完整性依法承担法律责任。 上海沪工焊接集团股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开第 ...

上海沪工焊接集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： | 证券代码：603131 | 证券简称：上海沪工 | 公告编号：2025-060 | | --- | --- | --- | | 债券代码：113593 | 债券简称：沪工转债 | | 上海沪工焊接集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 10 日（星期三） 上午 11:00-12:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行 交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间： ...