Core Viewpoint - The company, Aerospace Hongtu Information Technology Co., Ltd., has faced significant financial challenges in 2024, primarily due to the suspension of its military procurement qualifications, leading to a substantial decline in revenue and net profit [2][5]. Financial Performance - In 2024, the company achieved operating revenue of 1.575 billion yuan, a year-on-year decrease of 13.39%. The net profit attributable to shareholders was -1.393 billion yuan, a decline of 277.94% [2][5]. - The second quarter saw a revenue decline of 16.99% and a net profit drop of 134.09%, while the fourth quarter's revenue remained stable, but net profit fell by 248.99% [2][6]. Business Segmentation - Revenue from the special field was 668.3032 million yuan, down 14.24%, while revenue from the civilian sector was 906.9681 million yuan, down 12.75% [4][5]. - The overall gross margin for the company decreased by 13.44 percentage points to 22.48% in 2024, with significant declines in both special field and civilian sector margins [8][10]. Impact of Military Procurement Suspension - The company was suspended from military procurement on July 6, 2024, which has severely impacted its ability to participate in bidding for specialized projects, leading to a significant drop in orders and revenue [2][5]. - As of the date of the report, the company has not yet regained its military procurement qualifications, and it submitted a defense document in August 2024, awaiting a decision from military authorities [5][6]. Cost and Profitability Analysis - The increase in operating costs and significant asset impairment losses were major contributors to the net profit decline. The company faced a 92.217 million yuan increase in asset impairment losses due to uncontracted projects and a 6.794 million yuan increase in credit impairment losses [6][8]. - The gross margin for the system design and development business dropped to 9.22%, a decrease of 25.63%, while the data analysis application service margin fell to 30.76%, down 4.90% [10][11]. Client and Revenue Concentration - The company's revenue is heavily concentrated in system design and data analysis services, which together account for over 98% of total revenue. The top five clients contributed to a 17.01% increase in sales compared to the previous year [8][10]. - The company has been facing increased pressure from clients to reduce project budgets, leading to a decrease in order amounts and project margins [10][11].

Core Viewpoint - The company, Aerospace Hongtu Information Technology Co., Ltd., has faced significant operational challenges due to the suspension of its military procurement qualifications, leading to a substantial decline in revenue and net profit for the fiscal year 2024 [1][2][5]. Financial Performance - In 2024, the company reported a total revenue of 1.575 billion yuan, a year-on-year decrease of 13.39% [1][2]. - The net profit attributable to the parent company was -1.393 billion yuan, representing a year-on-year decline of 277.94% [1][2]. - The second quarter saw a revenue drop of 16.99%, while the fourth quarter experienced a slight decrease of 0.81% [3]. Revenue Breakdown - Revenue from the special field was 668.30 million yuan, accounting for 42.42% of total revenue, with a year-on-year decrease of 14.24% [1][2]. - Revenue from the civilian sector was 906.97 million yuan, making up 57.58% of total revenue, with a year-on-year decrease of 12.75% [1][2]. - The overall gross margin decreased by 13.44 percentage points to 22.48% [1][2]. Impact of Military Procurement Suspension - The suspension of military procurement qualifications since July 6, 2024, has severely impacted the company's ability to participate in tenders for special projects, leading to a decline in orders and revenue recognition [1][2][5]. - The company submitted a defense document to relevant authorities in August 2024, but as of the date of the report, the qualification had not been restored [2][5]. Cost and Profitability Analysis - The increase in operating costs was noted, with the second quarter's operating costs rising by 25.30% year-on-year [3]. - Significant asset impairment losses of 922.18 million yuan were recorded, primarily due to the inability to recover costs from projects that were budgeted but later canceled or reduced [4][6]. - Credit impairment losses also increased by 67.95 million yuan due to delayed payments from clients [4][6]. Client and Project Dynamics - The company’s major clients include government departments, special units, state-owned enterprises, and educational institutions, which account for over 90% of its revenue [8][9]. - The company has been focusing on high-margin data asset businesses, signing contracts worth 300 million yuan with eight ministries for satellite data asset sales [8]. Market Comparison - The company's gross margin of 22.48% is significantly lower than that of comparable companies in the industry, which averaged around 37.33% [7][8]. - The gross margin for system design and development dropped to 9.22%, a decrease of 25.63% year-on-year, while data analysis application services saw a gross margin of 30.76%, down 4.90% [6][7].

国信证券股份有限公司 关于航天宏图信息技术股份有限公司 2024 年年报问询函回复的核查意见 航天宏图信息技术股份有限公司（以下简称"公司"、"航天宏图"）于 2025 年 5 月 20 日收到上海证券交易所下发的《关于航天宏图信息技术股份有限 公司 2024 年年度报告的信息披露监管问询函》（上证科创公函【2025】0137 号） （以下简称"《年报问询函》"）。国信证券股份有限公司（以下简称"国信证 券"或"保荐机构"）作为航天宏图的持续督导机构，现对《年报问询函》提及 的相关问题出具专项意见如下： | 业务分类 | | 2024 | | 年度 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 收入 | 收入占比 | 收入变动 | 成本 | 毛利率 | | 毛利率变动 | | 特种领域 | 66,830.32 | 42.42% | -14.24% | 62,909.33 | 5.87% | 减少 31.44 | 个百分点 | | 民用领域 | 90,696.81 | 57.58% | -12.75% | 59,211.80 | 34 ...

关于航天宏图信息技术股份有限公司 2024 年年度报告的信息披露监管问询函的回复 致同会计师事务所（特殊普通合伙） 致同会计师事务所（特殊普通合伙） 中国北京朝阳区建国门外大街 22 号 赛特广场 5 层邮编 100004 电话 +86 10 8566 5588 传真 +86 10 8566 5120 www.grantthornton.cn 关于航天宏图信息技术股份有限公司 2024 年年度报告的信息披露监管问询函的回复 致同专字（2025）第 110A015462 号 上海证券交易所： 致同会计师事务所（特殊普通合伙）（以下简称"我们"）接受委托，对航天 宏图信息技术股份有限公司（以下简称"公司"或"航天宏图"）2024 年财务报表， 包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、 合并及公司现金流量表、合并及公司股东权益变动表以及相关财务报表附注进行 审计，并于 2025 年 4 月 28 日出具了致同审字致同审字(2025)第 110A020263 号的 无保留意见审计报告。 我们于 2025 年 5 月 20 日收到了航天宏图公司转来的上海证券交易所 ...

| 证券代码：688066 | 证券简称：航天宏图 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：118027 | 债券简称：宏图转债 | | 航天宏图信息技术股份有限公司 关于 2024 年年度报告的信息披露监管 问询函的回复公告 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。 航天宏图信息技术股份有限公司（以下简称"公司"或"航天宏图"）于 2025 年 5 月 20 日收到上海证券交易所科创板公司管理部向公司发送的《关于对 航天宏图信息技术股份有限公司 2024 年年度报告的信息披露监管问询函》（上 证科创公函【2025】0137 号）（以下简称"《问询函》"），公司及相关中介 机构就《问询函》关注的问题逐项进行认真核查，现就《问询函》相关问题回复 如下： 1、关于军采资格与营业收入。年报及前期公告显示，公司自 2024 年 7 月 6 日被军队采购网暂停采购资格，至今资格尚未恢复，公司暂无法参加特种领域 储备项目的投标。2024 年度，公司实现营业收入 15.75 亿元，同 ...

Core Viewpoint - The commercial space industry in China is experiencing rapid growth, supported by national policies, with a market size projected to reach approximately 7,133.2 billion yuan in 2024, driven by increased launch activities and advancements in satellite applications [2][8]. Group 1: Definition and Main Business of Commercial Space Industry - The commercial space industry refers to the sector that provides space products and services through market-oriented approaches, including rocket launches, satellite applications, and space tourism [3][4]. - Unlike traditional government-led space projects, commercial space emphasizes private sector participation, cost-effectiveness, and sustainable business ecosystems, marking a shift from planned to market economies in space activities [4]. Group 2: Current Development Status of the Commercial Space Industry - The commercial space sector in China is becoming increasingly active, with 68 rocket launches and 66 successful orbital insertions in 2024, achieving a success rate of 97% [6][8]. - The market size of the commercial space industry in China has been growing rapidly, with a reported size of 6,582.2 billion yuan in 2023 and an expected increase to 7,810.4 billion yuan by 2025 [8]. - The commercial remote sensing satellite sector is identified as a strategic emerging industry that contributes significantly to economic growth and daily applications, positioning itself as a key area in global space competition [8]. Group 3: Future Prospects and Opportunities - The commercial space industry is anticipated to reach a mature phase by the end of the 14th Five-Year Plan or during the 15th Five-Year Plan, indicating a historic development opportunity for the industry chain [2]. - The launch of new rocket models, such as the Long March 8 and others, is expected to further enhance China's launch capabilities and increase the number of launches in 2025 [6].

国信证券股份有限公司 关于航天宏图信息技术股份有限公司 部分募投项目重新论证并继续实施的核查意见 国信证券股份有限公司（以下称"保荐机构"、"国信证券"）作为航天宏 图信息技术股份有限公司（以下简称"航天宏图"、"公司"）向不特定对象发 行可转换公司债券的持续督导机构，根据《证券发行上市保荐业务管理办法》 《上 市公司监管指引第 2 号—上市公司募集资金管理和使用的监管要求（2022 年修 订）》《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公 司自律监管规则适用指引第 1 号—规范运作》等法律法规的要求，对航天宏图重 新论证募投项目可行性事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）核发的《关于同意 航天宏图信息技术股份有限公司向不特定对象发行可转换公司债券注册的批复》 （证监许可〔2022〕2755 号），公司向不特定对象发行可转债 1,008.80 万张， 每张面值为人民币 100 元，按面值发行。本次发行募集资金总额为 100,880.00 万元，扣除发行费用人民币 1,742.58 万元（不含增值税），实际募集资金净额为 对上 ...

证券代码：688066 证券简称：航天宏图 公告编号：2025-036 二、监事会会议审议情况 经与会监事投票表决，审议通过了如下议案： 债券代码：118027 债券简称：宏图转债 航天宏图信息技术股份有限公司 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 航天宏图信息技术股份有限公司（以下简称"公司"）第四届监事会第三次 会议于 2025 年 5 月 30 日下午 15:00 在北京市海淀区杏石口路益园文化创意产业 基地 A 区 1 号楼 5 层会议室以现场与通讯表决相结合的方式召开，会议通知以 邮件方式送达。经全体监事同意，豁免了本次会议通知关于时限的要求。公司监 事 3 人，实际参与表决监事 3 人。会议由公司监事会主席苗文杰先生主持，会议 的召集和召开程序符合《中华人民共和国公司法》和《公司章程》等相关规定， 会议形成的决议合法、有效。 表决结果：3 票同意，0 票反对，0 票弃权 特此公告。 监事会 （一）审议通过《关于部分募投项目重新论证并继续实施的议案》 本次对"交互式全息智慧地球产 ...

| 证券代码：688066 | 证券简称：航天宏图 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：118027 | 债券简称：宏图转债 | | 航天宏图信息技术股份有限公司 关于部分募投项目重新论证并继续实施的公告 单位：万元 | 项目名称 | 项目总投资金额 | 拟使用募集资金 | | --- | --- | --- | | | | 投资金额 | | 交互式全息智慧地球产业数字化转型项目 | 121,851.02 | 70,880.00 | 1 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。 航天宏图信息技术股份有限公司（以下简称"公司"）于 2025 年 5 月 30 日召开的第四届董事会第五次会议、第四届监事会第三次会议审议通过了《关于 部分募投项目重新论证并继续实施的议案》，现就相关情况公告如下: 一、募集资金的基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）核发的《关于同意 航天宏图信息技术股份有限公司向不特定对象发行可转换公司债券注册的批复》 （证监许可〔 ...

| 证券代码：688066 | 证券简称：航天宏图 | 公告编号：2025-036 | | --- | --- | --- | | 债券代码：118027 | 债券简称：宏图转债 | | 航天宏图信息技术股份有限公司 第四届监事会第三次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 航天宏图信息技术股份有限公司（以下简称"公司"）第四届监事会第三次 会议于 2025 年 5 月 30 日下午 15:00 在北京市海淀区杏石口路益园文化创意产业 基地 A 区 1 号楼 5 层会议室以现场与通讯表决相结合的方式召开，会议通知以 邮件方式送达。经全体监事同意，豁免了本次会议通知关于时限的要求。公司监 事 3 人，实际参与表决监事 3 人。会议由公司监事会主席苗文杰先生主持，会议 的召集和召开程序符合《中华人民共和国公司法》和《公司章程》等相关规定， 会议形成的决议合法、有效。 二、监事会会议审议情况 本次对"交互式全息智慧地球产业数字化转型项目"的重新论证并继续实施 是根据募投项目的实际情况 ...