Core Viewpoint - The company plans to utilize idle raised funds for cash management, aiming to enhance the efficiency of fund usage and maximize shareholder returns while ensuring the safety of the funds [2][3][16]. Investment Overview - **Investment Purpose**: To improve the efficiency of raised funds and increase cash asset returns without affecting the normal implementation of investment projects [3]. - **Investment Amount**: The company intends to use up to RMB 600 million (including principal) of idle raised funds for cash management within 12 months from the board meeting approval [4][11]. - **Source of Funds**: The funds for cash management will come from temporarily idle raised funds from the company's initial public offering [5]. Investment Products - **Types of Investments**: The company will invest in high-security, liquid financial products, including but not limited to agreement deposits, structured deposits, time deposits, notice deposits, and large-denomination certificates of deposit [2][9]. - **Implementation Method**: After board approval, the management is authorized to make decisions regarding the selection of investment products and sign relevant legal documents [9]. Cash Management and Returns - **Return Distribution**: The income from cash management will be used primarily to cover any shortfall in investment amounts for projects and for the company's operational liquidity needs [9][16]. - **Recent Cash Management**: In the past 12 months, the company has also approved the use of up to RMB 650 million for cash management, indicating a consistent strategy to manage idle funds [10][11]. Risk Control Measures - **Risk Management**: The company will adhere to strict regulations and guidelines to ensure the safety of funds, including selecting reputable issuers and monitoring investment performance [15]. - **Supervision**: Independent directors and the audit committee will oversee the use of funds, with the option to hire professional auditors if necessary [15]. Impact on the Company - **Operational Impact**: The cash management initiative will not affect the company's daily operations or the progress of investment projects, aiming to enhance fund efficiency and shareholder returns [16][17]. - **Regulatory Compliance**: The cash management activities comply with relevant laws and regulations, ensuring no change in the intended use of raised funds [17][18].

Group 1 - Yongtai Technology's wholly-owned subsidiary has received approval for trial production of a lithium battery additive project with an annual capacity of 5,000 tons, set to begin trial production [1] - Mengke Pharmaceutical has decided to terminate its plan to issue shares to a specific entity due to ongoing disagreements among major shareholders, which could impact the company's stable operations [1] - Anhui Construction's subsidiary has been approved to register and issue debt financing tools totaling 15 billion yuan, including 5 billion yuan in short-term financing notes and 10 billion yuan in medium-term notes [2] Group 2 - Koli'er plans to repurchase shares worth between 10 million and 20 million yuan, with a maximum repurchase price of 20.94 yuan per share, to implement an employee stock ownership plan [2] - Xinhua Pharmaceutical has received approval for the production of fumaric acid volnoral raw materials, which are used to treat gastroesophageal reflux disease [3] - Lianhuan Pharmaceutical has received approval for additional specifications of tadalafil tablets, expanding its product offerings for treating erectile dysfunction and benign prostatic hyperplasia [5] Group 3 - Greenland Holdings reported an increase of 1,834 lawsuits with a total amount of 6.587 billion yuan from October 21 to November 13, 2025 [7] - Lianke Technology plans to invest up to 600 million yuan of idle funds in low-risk financial products [8] - Yinglian Co. signed a strategic procurement contract for 5,000 million square meters of composite aluminum foil with a leading new energy technology company [10] Group 4 - China Eastern Airlines reported a 10.58% year-on-year increase in passenger turnover for October, with a capacity increase of 6.84% [12] - China National Airlines reported an 8.7% year-on-year increase in passenger turnover for October, with domestic and international capacity also showing growth [15] - Oupai Home plans to use 320 million yuan of idle funds to purchase structured deposits with expected annual yields between 0.65% and 2.50% [16] Group 5 - Tianwei Food has submitted H-share issuance application materials to the Hong Kong Stock Exchange, which have been accepted by the China Securities Regulatory Commission [18] - Guizhou Aviation plans to establish a subsidiary focused on the research, production, and market expansion of intelligent automotive components, with initial operating funds of 40 million yuan [20] - Daimai Co. plans to invest 100 million yuan to establish a wholly-owned subsidiary in Shanghai focused on robotics technology [22] Group 6 - Founder Securities has received approval to issue company bonds totaling up to 30 billion yuan [24] - Hengrui Medicine has received clinical trial approvals for multiple drugs, indicating ongoing research and development efforts [26] - Zhaojing Pharmaceutical's product ZG006 has received orphan drug designation from the FDA, providing various benefits for its development in the U.S. market [39]

Group 1 - The company plans to use an amount not exceeding RMB 600 million of idle raised funds for cash management [1] - The usage period for the funds is set to be within 12 months from the approval date by the company's second board meeting [1] - The funds can be used in a rolling manner within the specified limit and timeframe [1]

长江证券承销保荐有限公司 关于北京晶品特装科技股份有限公司 使用部分闲置募集资金进行现金管理的 核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"、"保荐机构"）作为 北京晶品特装科技股份有限公司（以下简称"晶品特装"、"公司"）首次公开 发行股票并在科创板上市持续督导的保荐机构，根据《证券发行上市保荐业务管 理办法》《上海证券交易所科创板股票上市规则》《科创板上市公司持续监管办 法（试行）》《上市公司募集资金监管规则》《上海证券交易所科创板上市公司 自律监管指引第1号——规范运作》等有关法律法规的规定，对公司拟使用最高 余额不超过6亿元（含本数）的部分闲置募集资金进行现金管理的事项进行了认 真、审慎的核查，核查情况及核查意见如下： 一、投资情况概述 （一）投资目的 在确保不影响募集资金投资项目正常实施以及确保募集资金安全的前提下， 提高募集资金的使用效率，增加公司现金资产收益，实现股东利益最大化。 注："累计投入进度"为统计至 2025 年 6 月 30 日的数据。 3、募集资金投资项目情况 （二）投资金额 本次拟使用额度不超过人民币 6 亿元（含本数）的部分闲置募集资金进行现 金管理，使用期限自公司 ...

北京晶品特装科技股份有限公司 关于使用闲置募集资金进行现金管理的公告 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： 投资种类：安全性高、流动性好的投资产品（包括但不限于协定性存 款、结构性存款、定期存款、通知存款、大额存单等） 投资金额：人民币 6 亿元（包含本数） 已履行及拟履行的审议程序：北京晶品特装科技股份有限公司（以下 简称"公司"或"晶品特装"）于 2025 年 11 月 14 日召开第二届董事会第十 五次会议，审议通过了《关于使用部分闲置募集资金进行现金管理的议案》， 公司保荐机构长江证券承销保荐有限公司（以下简称"保荐机构"或"长江 保荐"）出具了无异议的核查意见。该事项在董事会审批权限范围内，无须 提交股东会审议。 特别风险提示：尽管公司拟投资安全性高、流动性好的保本型投资产 品，投资风险可控。但金融市场受宏观经济影响较大，公司将根据经济形势 以及金融市场的变化适时适量介入，但不排除该项投资受到市场波动的影响， 存在一定的系统性风险。 一、投资情况概述 证券代码：688084 证券简称：晶品特 ...

Core Viewpoint - The defense and military industry is expected to experience another upward trend due to multiple influencing factors, including geopolitical risks, technological advancements, and policy support [1]. Group 1: Market Performance - The military sector has continued its strong performance, with notable stocks such as Aerospace Development (000547) and Great Wall Military (601606) showing significant gains, including a net inflow of 1.828 billion yuan [1]. - The average stock price increase for military concept stocks this year is 30.94%, with North China Long Dragon leading with a 342.24% increase [2]. - Six military concept stocks have received institutional research attention in November, indicating strong interest from investors [2]. Group 2: Company Performance - Major companies in the military sector, including China Shipbuilding (600150) and AVIC Chengfei (302132), reported net profits exceeding 1 billion yuan in the first three quarters [3]. - Several companies, such as Zhenray Technology and North China Long Dragon, have turned losses into profits, with some achieving over 100% year-on-year profit growth [3]. - Institutions predict that nine military stocks will see significant profit increases by 2025, with expected growth rates exceeding 100% [3]. Group 3: Future Outlook - The military industry is poised to benefit from rising geopolitical risks, modernization goals, and expanding military trade markets, with high-end weapon exports expected to increase [1]. - Technological innovations, such as 3D printing and recyclable rockets, are anticipated to drive growth in the sector [1].

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].

Core Viewpoint - On November 3, the company announced that it has not repurchased any shares as of October 2025 [1] Group 1 - The company released an announcement regarding its share repurchase status [1]

证券代码：688084 证券简称：晶品特装 公告编号：2025-032 北京晶品特装科技股份有限公司 重要内容提示： | 回购方案首次披露日 | 年 月 2025 6 | | 18 | | | | | 日，由实际控制人、董事长陈波先 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 生提议 | | | | | | | | | 回购方案实施期限 | 年 2025 6 6 | 月 | 17 | 日~2026 | 年 | 月 | 日 | 16 | | 预计回购金额 | 800万元~1,200万元 | | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | 累计已回购股数 | □为维护公司价值及股东权益 3.60万股 | | | | | | | | | 累计已回购股数占总股本比例 | 0.05% | | | | | | | | | 累计已回购金额 | 279.97万元 | | | | | | | | | 实际回购价格区间 | 71.89元/股~83.0 ...

Group 1 - The 2025 High-Quality Development Forum for Listed Companies and the 27th Golden Bull Award Ceremony took place in Nantong, Jiangsu, with the theme "Moving Towards the New, Achieving with Reality, and Intelligent Future" [1] - Liu Peng, the Director, Deputy General Manager, and Secretary of the Board of Jingpin Special Equipment, won the "Golden Bull Secretary Award" at this event [1] - The Golden Bull Award, established in 1999 by China Securities Journal, aims to create a credible platform for communication and brand display in the capital market, recognizing outstanding contributions in corporate governance, information disclosure, and investor relations management [1] Group 2 - Jingpin Special Equipment, founded in 2009, is a national high-tech enterprise specializing in the research, production, and sales of optoelectronic reconnaissance equipment and military robot systems [2] - The company's main products include various models of drone optoelectronic pods, handheld optoelectronic reconnaissance devices, individual night vision goggles, handheld wall-penetrating radars, bomb disposal robots, multipurpose robots, and portable reconnaissance robots [2] - As a national high-tech enterprise in the military industry, Jingpin has focused on the fields of military informationization, intelligence, and automation, successfully developing multiple products that have been deployed in frontline troops [2]