智通财经APP讯，纵横股份(688070.SH)披露2025年第三季度报告，公司前三季度实现营收3.22亿元，同 比增长57.01%;归母净利润亏损1981万元;扣非净利润亏损2191万元;基本每股收益-0.23元。 ...

格隆汇10月27日丨纵横股份(688070.SH)公布，公司第三季度实现营业收入1.88亿元，同比增长 53.79%；归属于上市公司股东的净利润1652.37万元；归属于上市公司股东的扣除非经常性损益的净利 润1544.7万元；基本每股收益0.19元。 ...

证券代码：688070 证券简称：纵横股份 公告编号：2025-050 成都纵横自动化技术股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 31 日 （星期五） 至 11 月 06 日 （星期四） 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@jouav.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。 成都纵横自动化技术股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公 司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 07 日 （星 期五） 13:00-14:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进 行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时 ...

成都纵横自动化技术股份有限公司 2025 年第三季度报告 证券代码：688070 证券简称：纵横股份 成都纵横自动化技术股份有限公司 2025 年第三季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 | | | | 单位：元 | 币种：人民币 | | --- | --- | --- | --- | --- | | | | 本报告期比 | | 年初至报告 | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 期末比上年 | | | | 减变动幅度 | | 同期增减变 | | | | (%) | | 动幅度(%) | | 营业收入 | 187,705,859.2 ...

Core Viewpoint - The company is positioned as a leading player in China's industrial drone sector, focusing on the development of drone hardware platforms, flight control systems, and industry application software, while actively exploring new business opportunities in the low-altitude digital economy, which is expected to drive rapid growth in performance due to favorable industry conditions [1][2]. Group 1: Product Development and Market Position - The company has a comprehensive product lineup in the industrial drone market, which serves as a foundation for growth. It has significant technological advantages and a well-coordinated development across the entire drone industry chain [1]. - The CW series of composite wing drones are notable for being the first domestically produced vertical take-off fixed-wing industrial drones, with recent models like CW-40 and CW-100 enhancing application scenarios. The company has secured over 200 million yuan in emergency project bids in 2024, supporting performance growth [1]. - The PH series of rotor drones, primarily the PH-100, has been developed to complement existing composite wing drones, facilitating the establishment of a low-altitude logistics network through successful applications in fresh produce delivery [1]. - The Yunlong series of fixed-wing drones features long endurance, high performance, and low cost, filling a gap in the company's large drone product lineup with promising overseas market prospects [1]. Group 2: Low-altitude Economy and Technological Advancements - The company is advancing the low-altitude economy by launching a new generation of unmanned drone systems in 2024, promoting the integration of "unmanned drone systems + cloud platform + AI" for applications in social governance and other sectors, enabling fully autonomous operations and intelligent data processing [2]. - In 2025, the company won a 106 million yuan bid for the "Smart Bazhong" low-altitude digital economy construction project and is conducting pilot applications in various cities, collaborating with local governments to create low-altitude digital economy scenarios [2]. Group 3: Financial Projections and Incentives - The company has announced a new stock incentive plan in February 2025, granting 1.735 million restricted shares at a price of 21.68 yuan per share to 95 individuals, reflecting confidence in future growth [2]. - Revenue projections for 2025-2027 are estimated at 5.81 billion yuan, 9.39 billion yuan, and 13.52 billion yuan, with year-on-year growth rates of 22.6%, 61.5%, and 44.0% respectively. Net profits are expected to turn positive, reaching 0.09 billion yuan, 0.84 billion yuan, and 1.19 billion yuan during the same period, with significant growth rates [3].

Investment Rating - The report assigns an "Add" rating for the company for the first time, with a target valuation of 50.00 - 58.00 CNY, while the current stock price is 49.4 CNY [2]. Core Insights - The company is a leading player in the industrial drone sector in China, focusing on the development of drone hardware platforms, flight control systems, and industry application software, while actively exploring new business opportunities in the low-altitude digital economy [1]. - The company is expected to benefit from the continuous expansion of the domestic industrial drone market and the accelerated release of low-altitude economic policy dividends, leading to rapid growth in performance [1]. - The company has a comprehensive product line and has established a strong research and development system, which positions it well for future growth [7]. Summary by Sections Company Overview - The company was established in 2010 and specializes in the research, production, sales, and service of industrial drone-related products, becoming the first listed company in China with drones as its main business in February 2021 [13]. Financial Analysis - The company has seen stable revenue growth since its listing, with a significant increase in revenue to 4.74 billion CNY in 2024, a 57.14% increase year-on-year, while losses narrowed to 36 million CNY due to successful emergency project bids exceeding 200 million CNY [17][19]. - The main business segments include drone systems, services, and accessories, with drone systems contributing 76% of revenue in 2024 [19][69]. Low-altitude Economy - The low-altitude economy is identified as a key growth area, with the market expected to reach over 1 trillion CNY by 2026, driven by the rapid growth of the drone and eVTOL sectors [44][49]. - The report highlights the importance of drones as the core carrier and value creator in the low-altitude economy, with the industrial drone market projected to grow significantly [58]. Product Development - The company has a complete product line, including vertical take-off and landing fixed-wing drones, multi-rotor drones, and large fixed-wing systems, which cater to various industry needs [70]. - The company is advancing its "unmanned drone system + cloud platform + AI" solutions, enhancing its capabilities in social governance and digital economy applications [39][71]. Profit Forecast - Revenue forecasts for 2025-2027 are projected at 5.81 billion CNY, 9.39 billion CNY, and 13.52 billion CNY, with year-on-year growth rates of 22.6%, 61.5%, and 44.0% respectively [8].

Core Insights - The aviation equipment sector experienced a rise of 1.85% on October 24, with Tongyi Aerospace leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance Summary - Tongyi Aerospace (920642) closed at 18.10, with a significant increase of 21.97% and a trading volume of 291,500 shares [1] - Shengnan Technology (920006) saw a rise of 4.65%, closing at 29.27 with a trading volume of 59,300 shares [1] - Filihua (300395) increased by 4.14%, closing at 81.54 with a trading volume of 436,600 shares [1] - Other notable performers include: - Paike New Materials (605123) up 3.97% to 72.75 [1] - Morningstar Aviation (300581) up 3.81% to 16.62 [1] Capital Flow Analysis - The aviation equipment sector saw a net inflow of 737 million yuan from institutional investors, while retail investors experienced a net outflow of 765 million yuan [2] - The top stocks by net inflow from institutional investors include: - Filihua (300395) with a net inflow of 48.7 million yuan [3] - Aviation Power (600893) with a net inflow of 61.02 million yuan [3] - Morningstar Aviation (300581) with a net inflow of 42.65 million yuan [3]

Core Viewpoint - Jiangxi Zongheng Dapeng Drone Technology Co., Ltd. has been established, focusing on drone technology and geographic remote sensing information services [1] Company Summary - The new company is wholly owned by Zongheng Co., Ltd. (688070) through indirect holdings [1] - The registered capital of the new company is 10 million yuan [1] - The business scope includes pilot training for civil aircraft, manufacturing and sales of intelligent unmanned aerial vehicles, and geographic remote sensing information services [1]

Core Viewpoint - Recently, Jiangxi Zongheng Dapeng Drone Technology Co., Ltd. was established, indicating growth in the drone technology sector in China [1] Company Summary - The company is registered with a capital of 10 million yuan, reflecting a significant investment in the drone industry [1] - The legal representative of the company is Wang Chen, suggesting a centralized leadership structure [1] - The business scope includes pilot training for civil aircraft, manufacturing and sales of intelligent drones, and geographic remote sensing information services, highlighting a diverse operational focus [1] - The company is wholly owned by Zongheng Co., Ltd. through indirect shareholding, indicating a strong backing from an established entity in the industry [1]

电力设备 电力设备 低空经济行业周报（第三十八期）：纵横股份已中标 近 2 亿低空数字经济领域业务，陕西成立省属低空企 业聚焦交通场景运营 ——行业周报 2025 年 10 月 19 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -17% 0% 17% 34% 50% 67% 2024-10 2025-02 2025-06 电力设备 沪深300 相关研究报告 《欧洲电动车销量月报（2025 年 9 月）：9 国新能源车维持高增长，英法 意陆续启动电车补贴—行业点评报 告》-2025.10.16 《充电桩"三年倍增"行动方案落地， 有望开启新一轮投资周期—行业点评 报告》-2025.10.16 《固态电池行业周报（第十八期）： 中科院物理所研发阴离子调控技术解 决固态电池界面问题，中国企业亮相 北美电池展展示固态电池全链条技术 —行业周报》-2025.10.12 殷晟路（分析师） yinshenglu@kysec.cn 证书编号：S0790522080001 纵横股份已中标近 2 亿低空数字经济领域业务，陕西成立省属低空企业聚焦 交通场景运营 （1）行业动态：10 月 17 日，2025 陕西交通创新 ...