二十届四中全会高度重视装备建设，首提 航天强国，关注内需景气 核心观点 投资建议与投资标的 风险提示：军品订单和收入确认不及预期；研发进度及产业化不及预期；竞争格局及份 额波动风险；产品价格下降风险等。 国防军工行业 行业研究 | 行业周报 国家/地区 中国 行业 国防军工行业 报告发布日期 2025 年 10 月 27 日 看好（维持） | 罗楠 | 执业证书编号：S0860518100001 | | --- | --- | | | luonan@orientsec.com.cn | | | 021-63326320 | | 冯函 | 执业证书编号：S0860520070002 | | | fenghan@orientsec.com.cn | | | 021-63326320 | | 鲍丙文 | 执业证书编号：S0860124070016 | | --- | --- | | | baobingwen@orientsec.com.cn | | | 021-63326320 | | 美报告 -- | | --- | | #17 #1 **** | | 军贸催化不断，内需关注景气上行及"十 | 2025-10-2 ...

10月22日晚，新光光电发布公告，近日，公司收到嵩县监察委员会出具的《解除留置通知书》，嵩县监 察委员会已解除对康为民留置措施。目前，康为民已正常履行公司董事长、总经理职责，公司生产经营 情况一切正常。 董事长被解除了留置措施，新光光电（688011.SH）的股价意外大跌。 此前的9月28日晚，新光光电曾公告称，近日，公司收到嵩县监察委员会签发的关于对公司控股股东、 实际控制人、董事长、总经理康为民的《立案通知书》和《留置通知书》，康为民被实施留置措施。 长江商报奔腾新闻记者 沈右荣 新光光电成立于2007年11月，2019年7月22日登陆上交所科创板，主营智能光电产品。 从经营业绩数据来看，上市6年来，公司并未取得明显突破。 当时，公司召开临时董事会做出的安排为，在康为民留置期间，公司副董事长王玉伟代为履行公司董事 长及法定代表人职责等，由公司副总经理曲波代为履行公司总经理职责。 康为民因何被立案调查并不留置，此番解除了留置措施，立案调查是否还在进行。这些重要信息，新光 光电尚未披露。 二级市场上，9月29日，或受康为民被采取留置措施事项影响，新光光电股价大跌17.56%，收报35.2元/ 股。此后，股价有 ...

今年9月底，新光光电（688011）控股股东、实际控制人、董事长、总经理康为民被嵩县监察委员会实施留置措施。 时隔近一个月之后，新光光电于10月22日晚间发布公告称，近日收到嵩县监察委员会出具的《解除留置通知书》，嵩县监察委员会已解除对康为民的留置 措施。目前，康为民已正常履行公司董事长、总经理职责，新光光电生产经营情况一切正常。 新光光电董事长康为民解除留置，上市公司扣非净利已连亏五年。 公开信息显示，康为民曾于1990年7月至1994年5月，任哈尔滨激光研究所工程师；1994年6月至2001年8月，任哈尔滨工业大学自动化仪表与控制研究所副 研究员；2001年9月至2018年1月，任哈尔滨工业大学光学目标仿真与测试技术研究所所长；2016年5月至2018年12月，任哈尔滨新光光电科技有限公司董 事长；2018年12月至今，任新光光电董事长、总经理。 截至2025年6月30日，康为民直接持有新光光电股权44.654%，通过员工持股公司宜昌安筑商贸合伙企业（有限合伙）间接持有上市公司股权0.134%，合 计持股44.788%；同时，康为民妹妹康立新直接持有公司5.677%股份；由此，康为民、康立新合计直接持有公 ...

Core Viewpoint - The article summarizes significant announcements from various listed companies in the Shanghai and Shenzhen stock markets, highlighting potential investment opportunities and risks based on recent developments and financial performance. Group 1: Company Announcements - Tianpu Co., Ltd. warns that its stock price has significantly deviated from its fundamentals, with a cumulative increase of 246.02% from August 22 to October 22, indicating a potential for rapid decline [4] - Shenzhen Sanda A plans to sell stakes in several subsidiaries to focus on its core business, including 80% of Zhongdian Continental Environmental Technology [5][6] - Zhongchong Co., Ltd. received an administrative regulatory measure from the Shandong Securities Regulatory Bureau for failing to announce a significant change in shareholding [7] - Construction Machinery has reported a net loss of 447 million yuan for the first half of 2025, marking three consecutive years of losses [8] - Junshi Biosciences announced that its subsidiary passed a recent FDA inspection, indicating compliance with CGMP standards [9] Group 2: Financial Performance - Duofuduo reported a net profit increase of 407.74% year-on-year for the first three quarters of 2025, with a revenue of 6.73 billion yuan [17] - Weihuaxincai achieved a net profit growth of 250.04% year-on-year in Q3, with revenues of 660 million yuan [18] - Guangdong Jianke reported a net profit increase of 190.62% year-on-year for the first three quarters, despite a revenue decline [19] - Xianggang Technology reported a net profit increase of 186.19% year-on-year for the first three quarters, with revenues of 742 million yuan [20] - Defu Technology reported a net profit increase of 132.63% year-on-year for the first three quarters, driven by increased copper foil sales [21] Group 3: Major Transactions and Investments - Tangrenshen plans to establish two investment funds with a total investment of 11.04 million yuan to focus on the agricultural sector [13] - Farsen intends to sell a 10% stake in Bekaert Steel Cord, constituting a major asset restructuring [14] - Shikong Technology plans to acquire 100% of Jiahe Jingwei, entering the storage sector [15] - Jiangsu New Energy's controlling shareholder is investing in offshore wind power projects and will manage the project companies [11][12] Group 4: Shareholder Actions - Qianyuan Pharmaceutical's shareholder plans to reduce its stake by up to 3% [42] - Zhengfan Technology's board members plan to collectively reduce their holdings by up to 1.88% [43]

Group 1: Market Developments - Shenzhen aims to exceed a total market capitalization of 20 trillion yuan for listed companies by the end of 2027, an increase of 5 trillion yuan from previous targets [1] - The city plans to complete over 200 merger and acquisition projects with a total transaction value exceeding 100 billion yuan by 2027 [1] Group 2: Industry Performance - Shanghai's manufacturing output in the three leading industries grew by 8.5% year-on-year, with artificial intelligence manufacturing increasing by 12.8% [2] - The overall industrial output value in Shanghai increased by 5.7% year-on-year, with strategic emerging industries growing by 7.3% [2] Group 3: Company Announcements - UBI, a major shareholder of Shenyang Biological, plans to reduce its stake by up to 3% due to funding needs for clinical trials and commercialization of new drugs [8] - Sanwang Communication intends to repurchase shares worth between 20 million and 40 million yuan to support employee stock ownership plans [9] - Zhongjuxin reported a net profit increase of 152.24% year-on-year for the third quarter, with total revenue of 314 million yuan [10] Group 4: Financing Activities - Leju Robotics completed a Pre-IPO round of financing amounting to 1.5 billion yuan, with plans for an IPO underway [14] - Xunyu Technology announced over 100 million yuan in Pre-A round financing led by Sequoia China and Hillhouse Capital [15] - Haibo Pharmaceutical completed over 200 million yuan in B round financing, focusing on small molecule targeted drug development [18]

Group 1: Company Performance - China Unicom reported a 1.0% increase in revenue to 292.985 billion yuan for the first three quarters of 2025, with a net profit of 8.772 billion yuan, up 5.2% year-on-year [1] - Tonghuashun's third-quarter revenue reached 1.481 billion yuan, a 56.72% increase, with a net profit of 704 million yuan, up 144.5% year-on-year [2] - Duofu Du achieved a net profit of 78.054 million yuan for the first three quarters, a significant increase of 407.74% compared to the previous year [11] - Wehua New Materials reported a third-quarter net profit of 25.384 million yuan, a 250.04% increase year-on-year [12] - Xianggang Technology's net profit for the first three quarters grew by 186.19% to 95.471 million yuan [13] Group 2: Stock and Market Activity - Tianpu Co. warned of potential rapid declines in stock price due to a 246.02% increase since August 22, indicating a significant deviation from the company's fundamentals [3] - Deep Sanda A announced plans to sell stakes in several subsidiaries to focus on core business operations [4] - Jiangsu New Energy's controlling shareholder plans to invest in offshore wind power projects and will manage the projects through the company [10] Group 3: Regulatory and Compliance Issues - Zhongchong Co. received an administrative regulatory decision from the Shandong Securities Regulatory Bureau for failing to announce a significant change in shareholding [5] - Two consecutive years of losses were reported by Lianban Construction Machinery, prompting a risk warning for investors [6] Group 4: Corporate Developments - Junshi Biosciences' subsidiary passed a CGMP inspection by the FDA, marking its second successful inspection [8] - Xinguang Optoelectronics announced the lifting of restrictions on its chairman, allowing him to resume normal duties [9] - Defu Technology plans to invest an additional 1 billion yuan in special copper foil production facilities [30]

点击查看公告原文>> 登录新浪财经APP 搜索【信披】查看更多考评等级 哈尔滨新光光电科技股份有限公司（证券代码：688011，证券简称：新光光电）近日公告称，公司控股 股东、实际控制人、董事长兼总经理康为民已解除留置措施，目前已正常履行相关职责，公司生产经营 情况一切正常。 据了解，新光光电曾于2025年9月29日披露《公司关于重大事项的公告》（公告编号：2025-030），宣 布康为民因被嵩县监察委员会实施留置措施。近日，公司收到嵩县监察委员会出具的《解除留置通知 书》，确认已解除对康为民的留置措施。 公告指出，康为民当前已正常履行公司董事长、总经理职责。公司同时强调，目前生产经营情况一切正 常。公司提醒，指定的信息披露媒体为《中国证券报》，指定信息披露网站为上海证券交易所网站 （www.sse.com.cn），有关公司的信息均以在上述媒体和网站刊登的公告为准，敬请广大投资者理性投 资，注意投资风险。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于 ...

Group 1 - Tianpu Co., Ltd. warns that its stock price has significantly deviated from its fundamentals, with a potential for rapid decline after a 246.02% increase from August 22 to October 22 [3] - Shenzhen Sanda A plans to sell stakes in several subsidiaries to focus on its core business, including 80% of Zhongdian Intercontinental Environmental Technology [4] - Zhongchong Co., Ltd. received an administrative regulatory measure from the Shandong Securities Regulatory Bureau for failing to announce a significant change in shareholding [5] Group 2 - Construction Machinery has reported a net loss for three consecutive years, with a net profit of -447 million yuan for the first half of 2025 [6] - Junshi Biosciences' subsidiary passed a CGMP inspection by the FDA, indicating compliance with manufacturing standards [7] - Xinguang Optoelectronics announced the lifting of detention measures against its chairman, indicating normal operations [8] Group 3 - Jiangsu New Energy's controlling shareholder plans to invest in offshore wind power projects and will manage the project companies through the listed company [10] - Duofluorid's net profit for the first three quarters increased by 407.74%, with a revenue of 6.729 billion yuan [12] - Weihuaxin Materials reported a 250.04% increase in net profit for the third quarter, with revenue of 223 million yuan [13] Group 4 - Xianggang Technology's net profit for the first three quarters increased by 186.19%, with a revenue of 742 million yuan [14] - Defu Technology's net profit increased by 132.63% in the first three quarters, with a revenue of 8.5 billion yuan [15] - Taishan Petroleum reported a 112.32% increase in net profit for the first three quarters, with a revenue of 2.395 billion yuan [16] Group 5 - Kaisheng New Materials reported a 121.56% increase in net profit for the first three quarters, with a revenue of 774 million yuan [17] - Guangku Technology's net profit increased by 106.61% in the first three quarters, with a revenue of 998 million yuan [18] - Xinong Co., Ltd. reported a 105.68% increase in net profit for the third quarter, with a revenue of 837 million yuan [19] Group 6 - Mairande's net profit increased by 36.71% in the third quarter, with a revenue of 103 million yuan [20] - ST Nuotai reported a 26.92% increase in net profit for the first three quarters, with a revenue of 1.527 billion yuan [21] - Anke Rui's net profit increased by 21.31% in the first three quarters, with a revenue of 837 million yuan [22] Group 7 - Weisheng Information reported a 12.24% increase in net profit for the first three quarters, with a revenue of 2.112 billion yuan [23] - Action Education plans to distribute a cash dividend of 5 yuan per 10 shares, with a net profit increase of 10.39% [24] - Henghui Security reported a 12.85% decrease in net profit for the first three quarters, with a revenue of 880 million yuan [25] Group 8 - China Shipbuilding Han Guang reported a 9.44% decrease in net profit for the first three quarters, with a revenue of 875 million yuan [26] - Sichuan Chengyu's subsidiary signed a sand and gravel supply contract worth up to 100 million yuan [28][29] - Yuegui Co., Ltd.'s subsidiary signed a mining rights transfer contract for a quartz rock mine with a reserve of 18.163 million cubic meters [30]

证券代码：688011 证券简称：新光光电 公告编号：2025-032 哈尔滨新光光电科技股份有限公司 关于公司控股股东、实际控制人、董事长、总经理 解除留置的公告 公司于近日收到嵩县监察委员会出具的《解除留置通知书》， 嵩县监察委员会已解除对康为民先生的留置措施。目前康为民先生 已正常履行公司董事长、总经理职责，公司生产经营情况一切正常。 公司指定的信息披露媒体为《中国证券报》，指定的信息披露 网站为上海证券交易所网站（www.sse.com.cn），公司发布的信息 均以在上述媒体和网站刊登的公告为准。敬请广大投资者理性投资， 注意投资风险。 特此公告。 哈尔滨新光光电科技股份有限公司董事会 2025 年 10 月 23 日 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。 哈尔滨新光光电科技股份有限公司（以下简称"公司"）于 2025 年 9 月 29 日披露了《公司关于重大事项的公告》（公告编号： 2025-030），公司控股股东、实际控制人、董事长、总经理康为民 先生被嵩县监察委员会实施留置措施。 ...

人民财讯10月22日电，新光光电(688011)10月22日公告，公司于近日收到嵩县监察委员会出具的《解除 留置通知书》，嵩县监察委员会已解除对公司控股股东、实际控制人、董事长、总经理康为民的留置措 施。目前康为民已正常履行公司董事长、总经理职责，公司生产经营情况一切正常。 转自：证券时报 ...