Core Viewpoint - The aviation equipment sector experienced a rise of 1.11% on October 28, with Tongyi Aerospace leading the gains, while the overall market indices showed a decline [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3988.22, down 0.22%, and the Shenzhen Component Index closed at 13430.1, down 0.44% [1]. - Key stocks in the aviation equipment sector showed significant gains, with Tongyi Aerospace rising by 6.00% to a closing price of 17.15 [1]. Group 2: Stock Performance - Notable performers included: - Filihua, which increased by 5.47% to 88.00, with a trading volume of 444,000 shares and a transaction value of 3.838 billion [1]. - Maixinlin, up 5.02% to 65.69, with a trading volume of 81,700 shares and a transaction value of 536 million [1]. - Chengxi Aviation, which rose by 4.91% to 17.31, with a trading volume of 430,300 shares and a transaction value of 739 million [1]. Group 3: Capital Flow - The aviation equipment sector saw a net inflow of 308 million from institutional investors, while retail investors experienced a net outflow of 360 million [2][3]. - Key stocks with significant capital inflows included: - Filihua with a net inflow of 318 million, accounting for 8.30% of its trading volume [3]. - Zhonghang Shenfei with a net inflow of 284 million, representing 11.17% of its trading volume [3].

Core Viewpoint - *ST Lihang (603261.SH) reported its Q3 2025 results, indicating a decline in institutional ownership and changes in foreign investment participation [1] Group 1: Institutional Ownership - As of October 24, 2025, there are 2 institutional investors holding a total of 2.1297 million shares of *ST Lihang, representing 2.73% of the total share capital [1] - The institutional ownership percentage decreased by 1.93 percentage points compared to the previous quarter [1] Group 2: Foreign Investment - One new foreign institutional investor, MERRILL LYNCH INTERNATIONAL, was disclosed in this period [1] - The foreign institutions that were not disclosed this quarter include BARCLAYS BANK PLC, Goldman Sachs International - proprietary funds, and UBS AG [1]

Group 1 - *ST Lihang held its 11th meeting of the third board of directors on October 23, 2025, to discuss the proposal for the extension of certain fundraising projects [1] - The company's revenue composition for the year 2024 is entirely from the aviation manufacturing industry, accounting for 100.0% [1] - As of the report, *ST Lihang has a market capitalization of 1.7 billion yuan [1] Group 2 - A well-known brand has made a significant investment of 170 million yuan to acquire 2,000 shares in a target company with a registered capital of only 10,000 Hong Kong dollars, raising questions about the necessity of the acquisition [1]

证券代码：603261 证券简称：*ST 立航 公告编号：2025-044 成都立航科技股份有限公司 关于部分募投项目延期的公告 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个别及连带责任。 重要内容提示： 成都立航科技股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日召开 第三届董事会第十一次会议和第三届监事会第九次会议，审议通过了《关于公司 部分募投项目延期的议案》，根据募集资金实际使用以及募投项目实施情况，为 保证募投项目建设更符合公司和股东利益，公司拟将首次公开发行股票募投项目 "航空设备及旋翼飞机制造项目"（以下简称"本项目"）达到预定可使用状态日期 的时间延期至 2026 年 10 月 30 日。本次募投项目延期事项不改变募集资金的用 途，不会对公司正常的生产经营和业务发展产生不利影响。根据《上海证券交易 所股票上市规则》等相关规定，本事项无需提交股东大会审议。 一、募集资金基本情况 根据中国证券监督管理委员会证监许可[2022]380 号文《关于核准成都立航 科技股份有限公司首次公开发行股票的批复》核准 ...

华西证券股份有限公司 关于成都立航科技股份有限公司 部分募投项目延期的核查意见 华西证券股份有限公司（以下简称"华西证券"或"保荐机构"）作为成都 立航科技股份有限公司（以下简称"立航科技"或"公司"）首次公开发行股票 的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管 规则》《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》等相关法规和规范性文件的要求，对立航科技部分募投 项目延期事项进行了核查，具体情况如下： | 募投项目 | 项目投资金 | 拟使用募集资 | 募集资金累计 | 募集资金专户 | | --- | --- | --- | --- | --- | | | 额 | 金金额 | 投入金额 | 余额（万元） | | | （万元） | （万元） | （万元） | | | 合计 | 70,000.00 | 33,472.13 | 32,820.95 | 265.33 | 注 1：累计投入金额超过拟使用募集资金金额的 38.94 万元，系募集资金账 户产生的利息收入所致。 注 2：截至 2025 年 9 月 30 日，公司使用 999.95 万 ...

Financial Performance - The company's operating revenue for the third quarter was ¥89,486,238.44, representing a year-on-year increase of 119.92%[4] - The total profit for the period was a loss of ¥804,426.13, while the net profit attributable to shareholders was ¥162,851.04, showing significant improvement compared to the previous year[4] - The basic earnings per share for the quarter was ¥0.002, a significant recovery from a loss of ¥0.57 in the previous year[4] - Total operating revenue for the first three quarters of 2025 was CNY 143.83 million, a decrease of 3.9% compared to CNY 148.77 million in the same period of 2024[17] - Total operating costs increased to CNY 203.46 million in 2025, up 14.4% from CNY 177.89 million in 2024[17] - Operating profit for the first three quarters of 2025 was a loss of CNY 52.13 million, compared to a loss of CNY 37.17 million in 2024[18] - Net profit for the first three quarters of 2025 was a loss of CNY 45.70 million, worsening from a loss of CNY 33.96 million in 2024[18] - The total comprehensive loss for the first three quarters of 2025 was CNY 45.70 million, compared to a loss of CNY 33.96 million in 2024[19] Cash Flow and Assets - The net cash flow from operating activities was a negative ¥24,299,090.87, indicating ongoing cash flow challenges[4] - Cash flow from operating activities showed a net outflow of CNY 66.29 million in 2025, compared to a net outflow of CNY 52.90 million in 2024[21] - Cash and cash equivalents decreased significantly to CNY 15,838,584.62 from CNY 138,106,320.57, representing a drop of about 88.5%[13] - Cash and cash equivalents at the end of the third quarter of 2025 were CNY 15.82 million, significantly down from CNY 110.79 million at the end of the same period in 2024[22] - Total assets decreased by 7.38% from the previous year, amounting to ¥1,069,127,778.72[5] - The company's current assets totaled CNY 635,291,348.66, down from CNY 725,997,473.26 at the end of 2024, indicating a decline of approximately 12.5%[13] - Accounts receivable stood at CNY 273,599,522.93, down from CNY 308,153,176.35, reflecting a decrease of approximately 11.2%[13] - Total liabilities decreased to CNY 381,583,477.23 from CNY 420,368,652.06, a reduction of approximately 9.2%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,327, indicating a stable shareholder base[10] - The largest shareholder, Liu Suiyang, holds 63.35% of the shares, reflecting significant ownership concentration[10] - The company's equity attributable to shareholders decreased by 6.27% to ¥675,443,504.08 compared to the end of the previous year[5] - The company's equity attributable to shareholders decreased to CNY 675,443,504.08 from CNY 720,599,533.36, a decline of about 6.3%[15] Operational Insights - The company received government subsidies amounting to ¥773,842.65 during the quarter, contributing positively to its financial performance[8] - The company plans to continue focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[4] - Research and development expenses increased to CNY 7.52 million in 2025, up from CNY 5.77 million in 2024, indicating a focus on innovation[18] - Sales expenses decreased to CNY 4.57 million in 2025 from CNY 5.39 million in 2024, reflecting cost control measures[18] - The company has not reported any new product developments or market expansions during the reporting period[12] - There are no significant changes in the shareholder structure or any involvement in margin financing activities reported[12]

证券代码：603261 证券简称：*ST 立航 公告编号：2025-043 成都立航科技股份有限公司 关于为控股子公司提供担保的公告 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。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 称"恒升力讯"） | | 四川恒升力讯智能装备有限公司（以下简 | | --- | --- | --- | --- | --- | | | 本次担保金额 | 1,000.00 | 万元 | | | 担保对象 | 实际为其提供的担保余额 | 万元 0.00 | | | | | 是否在前期预计额度内 | □是 | □否 | √不适用：_________ | | | 本次担保是否有反担保 | □是 | √否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 1,000.00 | | --- | --- | | 截至本公告日上市公司及其控股子公司对 | 1,000.00 | | 外担保总额（万元） | | | 对外担保总额占上市公司最近一期经审计 | 1 ...

证券代码：603261 证券简称：*ST 立航 公告编号：2025-042 成都立航科技股份有限公司 第三届监事会第九次会议决议的公告 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。 成都立航科技股份有限公司（以下简称"公司"）第三届监事会第九次会议（以 下简称"本次会议"）于 2025 年 10 月 20 日以通讯方式发出会议通知，并于 202 5 年 10 月 23 日在公司会议室以现场投票表决的方式召开。 本次会议应出席监事 3 名，实际出席监事 3 名。公司监事会主席李军主持本 次会议。本次会议召开符合有关法律、行政法规、规范性文件和《公司章程》的 规定。 二、监事会会议审议情况 1、审议通过了《关于 2025 年第三季度报告的议案》 公司监事会依照有关法律、法规和公司章程，经认真审核，发表意见如下： （1）公司 2025 年第三季度报告的编制和审议程序符合法律、法规、公司章 程和公司内部管理制度等相关规定； 一、监事会会议召开情况 （2）公司 2025 年第三季度报告的内容和格式符合中国证券监督管理委员会 和上 ...

详情请见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《成都 立航科技股份有限公司 2025 年第三季度报告》。 证券代码：603261 证券简称：*ST 立航 公告编号：2025-041 成都立航科技股份有限公司 第三届董事会第十一次会议决议的公告 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个别及连带责任。 一、董事会会议召开情况 成都立航科技股份有限公司（以下简称"公司"）第三届董事会第十一次会议 （以下简称"本次会议"）于 2025 年 10 月 20 日以通讯方式发出会议通知，并于 2025 年 10 月 23 日在公司会议室以现场投票及通讯表决的方式召开。 本次会议应出席董事 5 名，实际出席董事 5 名。公司董事长刘随阳先生主 持本次会议，公司监事和高级管理人员列席了会议。本次会议召开符合有关法律、 行政法规、规范性文件和《公司章程》的规定。 二、董事会会议审议情况 1、审议通过了《关于 2025 年第三季度报告的议案》 表决结果：5 票同意、0 票反对、0 票弃权。 本议案已经董事会审计委员会审议通 ...

Market Overview - The aviation equipment sector rose by 0.91% on October 21, with Filihua leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Filihua (300395) saw a significant increase of 14.17%, closing at 80.50 with a trading volume of 426,500 shares [1] - Other notable performers included Hangxin Technology (300424) with a 6.02% increase, and Hangyu Technology (688239) with a 4.42% increase [1] - The table below summarizes the performance of key stocks in the aviation equipment sector: | Code | Name | Closing Price | Change (%) | Volume (thousand) | |--------|--------------|---------------|------------|-------------------| | 300395 | Filihua | 80.50 | 14.17 | 426.5 | | 300424 | Hangxin Tech | 17.79 | 6.02 | 248.6 | | 688239 | Hangyu Tech | 43.67 | 4.42 | 48.3 | | 920642 | Tongyi Aerospace | 14.97 | 2.46 | 20.1 | | 002297 | Boyun New Material | 9.00 | 2.39 | 471.7 | | 603261 | *ST Lihang | 21.10 | 2.23 | 12.5 | | 300034 | Steel Research | 16.38 | 2.12 | 120.9 | | 920006 | Shengcao Technology | 27.85 | 1.94 | 11.3 | | 688287 | *ST Guandian | 4.78 | 1.92 | 14.9 | | 002625 | Guangqi Technology | 46.78 | 1.92 | 189.7 | [1] Capital Flow - The aviation equipment sector experienced a net inflow of 601 million yuan from institutional investors, while retail investors saw a net outflow of 454 million yuan [2] - The following table outlines the capital flow for key stocks: | Code | Name | Institutional Net Inflow (yuan) | Institutional Net Ratio | Retail Net Inflow (yuan) | Retail Net Ratio | |--------|--------------|----------------------------------|-------------------------|--------------------------|------------------| | 300395 | Filihua | 439 million | 13.32% | -83.56 million | -10.78% | | 688122 | Western Superconductor | 92.06 million | 7.09% | -36.26 million | -4.30% | | 300424 | Hangxin Tech | 54.02 million | 12.49% | -798,450 | -10.64% | | 600893 | Aero Engine | 47.64 million | 7.85% | 390,730 | -8.50% | | 688237 | Superlative Aerospace | 28.34 million | 18.13% | 530,500 | -21.53% | [3]