福建火炬电子科技股份有限公司 职工代表大会决议公告 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。 福建火炬电子科技股份有限公司（以下简称"公司"）职工代表大会于 2025 年 11 月 14 日在公司召开，会议的召开及表决程序符合职工代表大会决策的有关 规定，经与会职工代表讨论并形成如下决议： 证券代码：603678 证券简称：火炬电子 公告编号：2025-073 根据《公司法》《公司章程》的有关规定，同意选举李杰成先生（简历附后） 为公司第七届董事会职工代表董事。李杰成先生将与公司股东大会选举产生的 8 名董事共同组成公司第七届董事会，任期至第七届董事会任期届满为止。 特此公告。 福建火炬电子科技股份有限公司董事会 二〇二五年十一月十五日 附：李杰成先生简历 李杰成先生：男，汉族，中国国籍，无境外永久居留权，1989 年出生，本 科学历；2011 年参加工作，曾任广州天极电子科技股份有限公司技术工程师、 生产部副经理、经理，制造中心副总监；现任广州天极电子科技股份有限公司制 造中心总监。 李杰成先生未直接持有公司股份，与公 ...

证券代码：603678 证券简称：火炬电子 公告编号：2025-072 福建火炬电子科技股份有限公司 2025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 (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： | 1、出席会议的股东和代理人人数 | 351 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 215,124,070 | | 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 | 45.63 | | 份总数的比例（%） | | (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，董事长蔡劲军先生主持，会议采取现场投 票与网络投票相结合的方式表决，符合《公司法》《公司章程》等法律法规及规 范性文件的规定。 (一) 股东大会召开的时间：2025 年 11 月 14 日 (二) 股东大会召开的地点：福建省泉州市鲤 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于福建火炬电子科技股份有限公司 2025 年第二次临时股东大会的 法律意见书 国枫律股字[2025]A0559 号 4．本法律意见书仅供贵公司本次会议之目的使用，不得用作任何其他用途。本所 律师同意将本法律意见书随贵公司本次会议决议一起予以公告。 本所律师根据《公司法》《证券法》《股东会规则》《证券法律业务管理办法》《证 券法律业务执业规则》等相关法律、行政法规、规章、规范性文件的要求，按照律师行 业公认的业务标准、道德规范和勤勉尽责精神，对贵公司提供的有关文件和有关事项进 行了核查和验证，现出具法律意见如下： 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案内容及该等议 案所表述的事实或数据的真实性、准确性和完整性发表意见； 2．本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东资 ...

证券代码：603678 证券简称：火炬电子 公告编号：2025-074 福建火炬电子科技股份有限公司 第七届董事会第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法律责任。 福建火炬电子科技股份有限公司（以下简称"公司"）经 2025 年第二次临 时股东大会及公司职工代表大会选举产生了第七届董事会成员，经全体董事同意 豁免会议通知时间，公司于 2025 年 11 月 14 日以现场方式召开第七届董事会第 一次会议。本次会议由公司半数以上董事共同推举的董事蔡劲军先生召集并主 持，应出席董事 9 人，实际出席董事 9 人，公司高级管理人员候选人列席会议。 会议的召集、召开符合《公司法》及《公司章程》的规定，审议通过如下决议： 1、 审议《关于选举公司第七届董事会董事长的议案》； 根据《公司法》《公司章程》等有关规定，选举蔡劲军先生为公司董事长， 并担任公司法定代表人。任期自本次董事会通过之日起至公司第七届董事会届满 之日止。 审议结果：9 票赞成，0 票反对，0 票弃权，结果为通过。 审计委员会由三人组成：林涛先生（主任 ...

Investment Rating - The report maintains a "Positive" outlook on the defense and military industry, indicating a turning point in profitability and growth potential [6][4]. Core Insights - The military industry is expected to enter a new growth cycle driven by the initiation of the "14th Five-Year Plan" equipment construction, military trade, and commercial aerospace advancements [2][3]. - The overall revenue for the military sector increased by 3.07% year-on-year in the first three quarters of 2025, while net profit attributable to shareholders decreased by 9.89%, showing a narrowing decline compared to the previous year [6][11]. - Key segments such as components, sub-systems, and assembly levels have shown signs of recovery, with revenue growth turning positive for the first time since 2021 [18][25]. Summary by Sections 1. Performance Analysis - In Q3 2025, revenue growth rates for components, sub-systems, and assembly levels were 8.30%, 3.37%, and 1.16% respectively, marking a positive shift from negative growth in 2024 [18][19]. - The net profit for the components level increased by 6.94% year-on-year, while sub-systems and assembly levels saw declines of 28.98% and 19.48% respectively [18][23]. 2. Cash Flow Improvement - The cash flow from operations for sub-systems and assembly levels improved, while components faced temporary pressure [40][42]. - The sales collection ratio for assembly levels rose significantly by 23.23 percentage points to 92.50% in Q3 2025, indicating better cash flow management [40][41]. 3. Prepayments and Inventory - Prepayments (including contract liabilities) across all levels showed an upward trend, with assembly levels increasing by 21.85% to 63.345 billion yuan [48][49]. - Inventory levels for components, sub-systems, and assembly increased by 12.57%, 8.81%, and 19.82% respectively, suggesting a positive outlook for future performance [53][54]. 4. Segment Performance - The weaponry segment led revenue growth with a remarkable 27.52% increase, while the aerospace segment grew by 6.17% and the information technology segment by 5.37% [35][36]. - The information technology segment achieved a net profit growth rate of 136.38%, indicating strong performance and future growth potential [36][39].

Group 1 - The core point of the news is that Torch Electronics experienced a decline of 5.22% in its stock price, reaching 31.43 CNY per share, with a trading volume of 342 million CNY and a turnover rate of 2.25%, resulting in a total market capitalization of 14.947 billion CNY [1] - Torch Electronics, established on December 20, 2007, and listed on January 26, 2015, is primarily engaged in the research, production, sales, testing, and service of electronic components, new materials, and related products [1] - The revenue composition of Torch Electronics includes 53.08% from international trade, 34.32% from self-produced passive components, 7.29% from self-produced ceramic materials, 4.73% from self-produced active components, and 0.57% from other sources [1] Group 2 - Huashan Fund has one fund heavily invested in Torch Electronics, specifically the Huashan Dazheng Mixed A Fund (002181), which increased its holdings by 172,900 shares in the third quarter, totaling 555,400 shares, representing 3.86% of the fund's net value, making it the seventh-largest holding [2] - The Huashan Dazheng Mixed A Fund (002181) was established on August 23, 2017, with a current scale of 268 million CNY, achieving a year-to-date return of 26.74% and a one-year return of 10.47% [2] - The fund manager of Huashan Dazheng Mixed A is Shu Hao, who has been in the position for 7 years and 136 days, with the fund's total asset size at 755 million CNY and a best return of 217.13% during his tenure [3]

Core Viewpoint - Torch Electronics Co., Ltd. has established a wholly-owned subsidiary, Shanghai Mingqi Hongke Technology Co., Ltd., with a registered capital of 50 million yuan, marking its entry into the artificial intelligence sector [1][3]. Group 1: Company Developments - The new subsidiary will focus on AI industry application system integration services, AI basic software development, information system integration, and software research and development [3]. - This move is seen as a strategic step for Torch Electronics to build an AI application ecosystem from hardware to systems, enhancing its upstream technology reserves [4]. Group 2: Industry Context - As a significant player in the domestic electronic components manufacturing sector, Torch Electronics has been advancing the intelligent and high-end upgrade of its products, which include ceramic capacitors, LTCC devices, and packaging substrates [4]. - The acceleration of AI technology penetration across various industries has prompted manufacturers with electronic foundations and system integration capabilities to explore collaborative development paths for AI hardware and software [4].

Core Insights - Torch Electronics has established a new technology company focused on AI-related business activities [1] Company Summary - The newly formed company, Shanghai Mingqi Hongke Technology Co., Ltd., has a registered capital of 50 million yuan [1] - The business scope includes artificial intelligence industry application system integration services, AI basic software development, information system integration services, and software development [1] - Torch Electronics holds indirect full ownership of this new company [1]

Core Viewpoint - Torch Electronics is a leading domestic electronic component manufacturer with a comprehensive product range and a strong position in the defense and aerospace sectors [1] Group 1: Business Performance - In Q3 2025, Torch Electronics reported revenue of 2.698 billion yuan, ranking 9th in the industry out of 64 companies, with the industry leader, AVIC Chengfei, generating 48.286 billion yuan [2] - The net profit for the same period was 324 million yuan, placing the company 8th in the industry, while the top performer achieved a net profit of 2.175 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 24.79%, lower than the industry average of 32.84%, indicating strong solvency [3] - The gross profit margin was 32.50%, slightly below the industry average of 34.84%, suggesting room for improvement in profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 20.74% to 35,700, while the average number of shares held per shareholder decreased by 17.18% to 13,300 [5] - New significant shareholders include Changxin National Defense and Guotai Junan Value Advantage Flexible Allocation Fund, while some existing shareholders reduced their holdings [5] Group 4: Future Outlook - According to Guangfa Securities, the company is expected to see significant improvements in operational performance, driven by recovery in component demand and growth in new materials [5] - Pacific Securities forecasts net profits of 501 million yuan, 631 million yuan, and 760 million yuan for 2025, 2026, and 2027, respectively, with corresponding EPS estimates of 1.05 yuan, 1.33 yuan, and 1.60 yuan [6]

福建火炬电子科技股份有限公司 福建火炬电子科技股份有限公司 2025 年第二次临时股东大会须知 各位股东及股东代表： 为维护投资者的合法权益，确保公司本次股东大会的顺利召开，依据中国 证券监督管理委员会《上市公司股东会规则》等有关规定，制定大会须知如下： 2025 年第二次临时股东大会会议资料 二○二五年十一月 火炬电子 2025 年第二次临时股东大会会议资料 二、本公司董事会办公室具体负责大会有关程序方面的事宜。 一、本公司根据《公司法》《证券法》《上市公司股东会规则》和《公司 章程》的规定，认真做好召开股东大会的各项工作。 三、为保证股东大会的严肃性和正常秩序，切实维护与会股东（或股东代 表）的合法权益，除出席会议的股东（或股东代表）、公司董事、监事、高级 管理人员、公司聘请的律师及董事会邀请的人员外，公司有权依法拒绝其他人 员进入会场。 四、出席会议的股东（或股东代表）须在会议召开前 10 分钟到会议现场向 董事会办公室办理签到手续，并请按规定出示股票账户卡、身份证或法人单位 证明、授权委托书以及出席人身份证等，经验证后领取会议资料，方可出席会 议。 五、股东需要在大会发言的，应于会议开始前 15 分钟 ...