证券代码：688015 证券简称：交控科技 公告编号：2025-019 交控科技股份有限公司 关于参加 2025 年半年度科创板交通概念行业 集体业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： ? 会议召开时间：2025 年 09 月 02 日 （星期二） 15:00-17:00 ? 会议召开地点：上海证券交易所上证路演中心 （网址：https://roadshow.sseinfo.com/） ? 会议召开方式：上证路演中心网络文字互动 ? 投资者可于 2025 年 08 月 26 日（星期二）至 09 月 01 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@bj-tct.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 交控科技股份有限公司（以下简称"公司"）将于 2025 年 8 月 30 日发布公 司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度 经营成果、财务状况，公司将于 2025 ...

证券代码：688015 证券简称：交控科技 公告编号：2025-019 交控科技股份有限公司 关于参加 2025 年半年度科创板交通概念行业 集体业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 08 月 26 日（星期二）至 09 月 01 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@bj-tct.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 交控科技股份有限公司（以下简称"公司"）将于 2025 年 8 月 30 日发布公 司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度 经营成果、财务状况，公司将于 2025 年 09 月 02 日（星期二）参加 2025 年半年 度科创板交通概念行业集体业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次 ...

Market Overview - On August 21, the consumer electronics sector declined by 1.77%, with Hongfu Han leading the drop [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Zhuoman Technology (002369) with a closing price of 10.56, up 10.00% [1] - Kosen Technology (603626) at 13.87, up 9.99% [1] - Laimu Co., Ltd. (603633) at 10.81, up 9.97% [1] - Other significant performers included: - Lixun Precision (002475) at 42.19, up 5.34% with a trading volume of 200.68 million shares [1] - Lens Technology (300433) at 28.34, up 4.92% with a trading volume of 166.06 million shares [1] Capital Flow - The consumer electronics sector experienced a net outflow of 3.368 billion yuan from institutional investors, while retail investors saw a net inflow of 2.901 billion yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Lixun Precision (002475) had a net inflow of 796 million yuan from institutional investors, but a net outflow of 339 million yuan from retail investors [3] - Zhuoman Technology (002369) saw a net inflow of 284 million yuan from institutional investors, with a net outflow of 126 million yuan from retail investors [3] - Kosen Technology (603626) had a net inflow of 181 million yuan from institutional investors, while retail investors experienced a net outflow of 683.57 million yuan [3]

Core Viewpoint - The upcoming unlocking of shares for the first batch of companies listed on the Sci-Tech Innovation Board (STAR Market) is expected to have limited impact on the secondary market, as many major shareholders are voluntarily extending their lock-up periods or committing not to sell their shares immediately after the unlocking, reflecting confidence in the long-term value of their companies [1][2][4]. Group 1: Shareholder Actions - Nine companies have announced that their major shareholders will extend the lock-up period by 6 to 12 months or commit not to sell shares for six months post-unlocking, representing a market value of 808 billion yuan, which is over 40% of the total theoretical unlocking market value for the first batch of 25 companies [2][4]. - Major shareholders of companies like China Communication Signal and Rongbai Technology have voluntarily chosen not to unlock their shares, indicating strong confidence in their companies' future [2][3]. Group 2: Market Impact and Stability - The unlocking of shares does not equate to immediate selling, as different shareholders have varying intentions regarding exiting their positions, and any selling will be subject to strict regulations [4][5]. - The potential selling pressure from unlocking is mitigated by the fact that major shareholders and executives are limited in how much they can sell within a specified timeframe, which helps maintain market stability [3][4]. Group 3: Long-term Investment Value - The overall performance of companies on the STAR Market has shown strong growth, with a compound annual growth rate of 28% in revenue and 70% in net profit from 2019 to 2021, indicating robust long-term investment potential [6]. - The STAR Market is expected to attract long-term capital as liquidity improves post-unlocking, creating favorable conditions for institutional investors [6][7]. Group 4: Regulatory Environment - The STAR Market has implemented a unique inquiry transfer system for share reductions, which has proven effective in maintaining market stability and minimizing price fluctuations during share sales [5][6]. - Recent regulatory developments, such as the introduction of market-making trading rules, are anticipated to enhance liquidity and reduce market volatility, further supporting the STAR Market's growth and stability [7].

格隆汇7月30日丨交控科技(688015.SH)在互动平台表示，经核实，公司目前与万勋科技（深圳）有限公 司暂无业务合作。公司近期低空应用重点落地的项目主要集中在六大方向：轨道巡检、高速巡检、边境 边防巡检、湿地林业巡检、河道巡检、政务一体化服务。公司产品朱雀空管平台是全球首个通过AL3级 第三方安全认证的飞行管理平台，核心优势是"用系统保障安全"。公司也关注到了低空技术在特种作业 领域的应用前景，未来公司将会密切关注行业发展趋势，持续通过生态合作、自主研发的方式探索相关 技术场景落地，具体合作动态请以公司公告为准。 ...

Core Viewpoint - The low-altitude economy, represented by drones and eVTOLs, is entering a critical development phase, with significant market potential but an unclear industrialization path [3][5]. Group 1: Economic Logic and Characteristics - The essence of low-altitude economy lies in its dual attributes: a new economic form and the principle of cost-effectiveness [5]. - The low-altitude economy is characterized by a long industrial chain and a lengthy cultivation cycle, necessitating a focus on quickly commercializable sub-scenarios [3][8]. Group 2: Industry Chain Insights - The low-altitude economy's industry chain consists of three interconnected segments: core technology barriers in the upstream, compliance with mainstream development directions and certification progress in the midstream, and viable business models in the downstream [5][6]. - Successful implementation of low-altitude economy requires a deep understanding of the internal logic of its industry chain [5]. Group 3: Application Scenarios - Key application scenarios for drones and eVTOLs include agricultural services, logistics, and passenger transport, emphasizing the need for drones to perform tasks that are undesirable or impossible for humans [7][9]. - The logistics and tourism sectors are highlighted as promising areas for low-altitude economy development, with a focus on precise segmentation and deep operational strategies [8]. Group 4: Investment Perspectives - From an investment standpoint, it is crucial to categorize application scenarios based on their timeframes for realization, balancing long-term potential with short-term feasibility [9]. - Short-term viable scenarios primarily focus on B2B applications, such as agricultural pest control and emergency rescue, while mid-term opportunities are seen in logistics and tourism [9].

Core Viewpoint - The rapid development of China's rail transit industry has led to an increasing demand for advanced and reliable Automatic Train Control (ATC) onboard equipment, with significant shifts in both import and export dynamics driven by policy adjustments and technological advancements [1][12]. Industry Overview - The ATC system is a comprehensive train control system that enhances the safety, reliability, punctuality, and efficiency of train operations through automation and real-time monitoring [2]. - The ATC system consists of three subsystems: Automatic Train Protection (ATP), Automatic Train Operation (ATO), and Automatic Train Supervision (ATS) [2]. Industry Development History - The ATC industry in China has evolved through four main stages: exploration (1960s-2004), rapid development (2004-2016), innovation (2016-2019), and maturity (2019-present) [4][5][6]. - The introduction of the CTCS technical specifications in 2004 marked a significant advancement, leading to the development of various levels of train control systems [4]. Current Industry Status - In the first five months of 2025, China imported 150 ATC devices, a year-on-year increase of 32.74%, while the import value decreased by 73.78% to 6.6637 million yuan [1][12]. - Exports of ATC devices saw a significant decline in quantity, with 3,834 units exported, down 88.33%, but the export value increased by 4.41% to 34.7974 million yuan, indicating a structural upgrade [1][12]. Industry Supply Chain - The upstream of the ATC industry includes raw materials, components, and software, while the midstream consists of ATC system integrators, and the downstream applications are primarily in urban rail transit and railway trunk lines [8]. Key Companies' Performance - China Railway Signal & Communication Corporation (CRSC) leads the market with its CTCS-3 level control system, which has achieved significant autonomy and is widely used in high-speed rail [19]. - China Communications Technology Co., Ltd. (CCTC) has developed the FAO system, breaking international monopolies and securing major contracts in urban rail projects [21]. Industry Development Trends - The ATC industry is moving towards intelligent and autonomous systems, integrating technologies like AI, big data, and 5G-R communication to enhance operational efficiency and safety [23]. - Chinese ATC companies are expanding globally, particularly in emerging markets, and are utilizing joint ventures and technology transfers to penetrate developed markets [24][25]. - The industry is transitioning from single system suppliers to smart transportation ecosystem builders, focusing on integrated solutions and lifecycle service models [26].

Core Insights - The integration of AI with the low-altitude economy is creating new production factors and economic forms, positioning China to carve out a unique industrial development path due to its latecomer advantage and intelligent approach [1][2][3] Low-altitude Economy Overview - The low-altitude economy refers to activities involving manned and unmanned aerial vehicles operating below 1,000 meters (up to 3,000 meters), which can significantly reduce construction and operational costs compared to ground transportation [2][3] - The global low-altitude economy is projected to reach approximately $1.5 trillion by 2040, while China's Civil Aviation Administration aims for a target of 3.5 trillion yuan by 2035 [3] AI Development in Low-altitude Economy - AI is evolving from rule-based systems to deep learning and large models, with a dual-track development of general and vertical large models [3] - The focus for Chinese enterprises should be on developing vertical large models tailored to specific business scenarios for effective AI application [3] Industry Structure and Challenges - The low-altitude economy consists of four interdependent sectors: aircraft manufacturing, digital infrastructure, airspace management, and operational services, which together form a complete industrial ecosystem [4][5] - Current challenges include a lack of unified operational rules and safety standards, leading to a situation where many manufacturers are hesitant to operate their aircraft despite having the technology [5][7] Future Development Phases - The evolution of the low-altitude economy can be divided into three phases: - Short-term (1-3 years): Empowering scenarios such as agricultural pest control and power line inspections, with significant cost advantages [5][6] - Mid-term (3-5 years): Scaling logistics scenarios, including urban delivery and cross-border transport, with successful pilot projects already underway [6] - Long-term (8-10 years): Revolutionizing manned transport, starting with tourism experiences and gradually expanding to commuting, ultimately aiming for flying cars [6] Investment Considerations - Three validation principles for investments in the low-altitude economy include the authenticity of demand, technical feasibility, and financial sustainability [6] - Lessons from the bankruptcy of German eVTOL company Volocopter highlight the risks of overextending and the importance of a stable funding chain [7] Industry Collaboration and Future Outlook - The future industrial ecosystem will require deep integration of AI, low-altitude vehicles, robotics, and traditional industries, emphasizing the need for a balanced approach to avoid blind investments [8]

Core Viewpoint - The company has announced a cash dividend distribution plan, with a per-share cash dividend of 0.23 RMB (including tax), totaling approximately 43.40 million RMB to be distributed to shareholders [1][6]. Dividend Distribution Plan - The profit distribution plan was approved at the annual general meeting on May 19, 2025 [1]. - The total share capital before the distribution is 188,680,742 shares, with a total cash dividend of 43,396,570.66 RMB (including tax) to be distributed [1]. - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on the registration date [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Registration date - Ex-dividend date - Cash dividend payment date [1]. Implementation Method - For shareholders with unrestricted circulating shares, dividends will be distributed through the clearing system of the China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [1]. Taxation on Dividends - For individual shareholders holding unrestricted circulating shares, dividends are subject to different tax treatments based on the holding period: - Holding period over 1 year: exempt from individual income tax, actual cash dividend per share is 0.23 RMB [3]. - Holding period within 1 year: no withholding tax at the time of distribution, tax will be calculated upon transfer of shares [3]. - For shareholders holding restricted shares, tax will be calculated based on the holding period after the lifting of restrictions [4]. - For qualified foreign institutional investors (QFII), a withholding tax rate of 10% applies, resulting in an actual cash dividend of 0.207 RMB per share after tax [5]. Contact Information - For inquiries regarding this dividend distribution, shareholders can contact the Board Office at 010-83606086 or via email at ir@bj-tct.com [6].

证券代码：688015 证券简称：交控科技 公告编号：2025-018 交控科技股份有限公司2024年年度权益分派实施公告 本公司董事会及全体董事保证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： 每股现金红利0.23元（含税） 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/3 | 2025/6/4 | 2025/6/4 | 一、通过分配方案的股东大会届次和日期 本次利润分配方案经交控科技股份有限公司（以下简称"公司"、"本公司"或"上 市公司"）2025 年 5 月 19 日的2024年年度股东大会审议通过。 二、分配方案 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本188,680,742股为基数，每股派发现 是否涉及差异化分红送转：否 每股分配比例 金红利0 ...