国力电子(688103.SH)发布公告，经财务部门初步测算，预计公司2025年年度实现归属于母公司所有者 的净利润为6800万元到8000万元，与上年同期(法定披露数据)相比，将增加3,776.24万元到4,976.24万 元，同比增加124.89%到164.57%。 ...

21智讯1月15日电，国力电子发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 6800.00万元到8000.00万元，同比预增124.89%—164.57%；预计2025年全年归属于上市公司股东的扣除 非经常性损益的净利润为6000.00万元到7200.00万元，同比预增228.22%—293.87%，变动原因为：2025 年度，公司坚持特种业务和民品业务双线并进的发展战略，特种业务控制盒持续稳定交付，同时原有新 能源板块（包含Y系列及民品控制盒）的市场份额持续扩大，实现战略转型的有效兑现。2025年，公司 实现营业收入约13.27亿元，同比增长67.55%左右。2025年度，公司净利润增长的主要原因如下：（1） 新能源汽车行业高景气度：下游市场需求持续增长，带动公司产品订单量显著提升；（2）核心产品收 入快速增长：公司控制盒、继电器等核心产品销售收入同比增速较快，盈利能力增强；同时，公司在大 科学工程及其它新兴应用领域的核心器件业务实现较大突破，相关产品的顺利交付成为利润增长的新增 动力。（3）成本与费用管控优化：降本增效的效应显现，运营效率提升，进一步推动净利润增长。 ...

| 证券代码：688103 | 证券简称：国力电子 | 公告编号：2026-002 | | --- | --- | --- | | 转债代码：118035 | 转债简称：国力转债 | | 2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况 （1）经财务部门初步测算，预计昆山国力电子科技股份有限公司（以下简 称"公司"）2025 年年度实现归属于母公司所有者的净利润为 6,800.00 万元到 8,000.00 万元，与上年同期（法定披露数据）相比，将增加 3,776.24 万元到 4,976.24 万元，同比增加 124.89%到 164.57%。 （2）归属于母公司所有者的扣除非经常性损益的净利润为 6,000.00 万元到 7,200.00 万元，与上年同期（法定披露数据）相比，将增加 4,171.98 万元到 5,371.98 万元，同比增加 228.22%到 293.87%。 （三）本期业绩预告未经注册会计师审计。 二、上年同期业绩情况和财务状况 昆山国力电子科技股份有限公司 2025年年度业绩预告 （1）2024 年年度归属于母公司所有者的净利润为 3,023.76 ...

Core Viewpoint - Guokong Electronics (688103.SH) is actively involved in the commercial aerospace sector, providing products for new satellite platforms, including vacuum relay products for power control [1] Group 1 - The company has successfully achieved small batch supply of its products in the commercial aerospace field [1]

Industry Overview - Microwave tubes, also known as ultra-high frequency tubes, operate in the frequency range of 300 MHz to 3000 GHz and are essential vacuum electronic devices that convert the kinetic or potential energy of electrons into electromagnetic wave energy, enabling the generation or amplification of microwave signals [2][4] - The Chinese microwave tube industry is projected to reach a market size of approximately 21.746 billion yuan in 2024, representing a year-on-year growth of 10.20%, driven by the rigid demand from national defense modernization and the rapid adoption of applications in civilian sectors such as 5G base station deployment and satellite internet [1][10] Industry Chain - The upstream of the microwave tube industry includes raw materials and components such as copper, alumina, electron guns, high-frequency systems, and energy transmission devices [7] - The midstream consists of the manufacturing processes of microwave tubes, while the downstream applications span radar, satellite, communication devices, automotive electronics, industrial heating, and medical equipment [7] Market Size - The radar industry in China is expected to reach a market size of approximately 71.966 billion yuan in 2024, with a year-on-year growth of 14.58%, highlighting the critical role of microwave tubes in radar systems for signal transmission and reception [9][10] Key Companies Performance - The competitive landscape of the Chinese microwave tube industry is characterized by a concentration of leading firms driven by technology, with companies like Chengdu Guoguang Electric and Kunshan Guoli Electronics holding significant market positions [11] - Chengdu Guoguang Electric, a private leader in the industry, reported a revenue of 254 million yuan in the first three quarters of 2025, a decline of 44.16% year-on-year, while Kunshan Guoli Electronics achieved a revenue of 937 million yuan, marking a growth of 71.23% year-on-year [12][14] Industry Development Trends 1. The technology route is continuously breaking through in "high frequency, high power, and high efficiency," with the integration of solid-state and vacuum technologies accelerating [15] 2. The demand structure is shifting towards "military strength and civilian advancement," with emerging applications opening new markets, particularly in the military sector driven by national defense information construction [15] 3. The strategy of self-control is deepening, with accelerated integration of the industry chain and military-civilian fusion, as domestic companies seek to reduce reliance on imports amid increasing international technology blockades [16]

Group 1 - The company, Guoli Electronics (688103.SH), focuses on the research, development, production, and sales of electronic vacuum devices [1] - Currently, the company does not have any related products applied in the electromagnetic catapult field [1]

Group 1 - The company, Guoli Electronics (688103.SH), focuses on the research, development, production, and sales of electronic vacuum devices [1] - Currently, the company does not have any related products applied in the electromagnetic catapult field [1]

Market Performance - The other electronic sector increased by 0.57% on January 9, with Hao Li Technology leading the gains [1] - The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1] Top Gainers - Hao Li Technology (002729) closed at 17.94, up 9.99% with a trading volume of 133,000 shares and a turnover of 234 million yuan [1] - Han Shuo Technology (301275) closed at 58.56, up 7.94% with a trading volume of 68,800 shares and a turnover of 394 million yuan [1] - Xu Guang Electronics (600353) closed at 18.62, up 5.08% with a trading volume of 746,000 shares and a turnover of 1.354 billion yuan [1] Other Notable Stocks - Runxin Technology (300493) closed at 21.96, up 4.82% with a trading volume of 481,500 shares and a turnover of 1.039 billion yuan [1] - Wei Feng Electronics (301328) closed at 50.16, up 3.81% with a trading volume of 34,500 shares and a turnover of 171 million yuan [1] Market Capital Flow - The other electronic sector experienced a net outflow of 200 million yuan from institutional investors and 150 million yuan from retail investors, while retail investors had a net inflow of 350 million yuan [2] - The detailed capital flow for individual stocks shows varying levels of net inflow and outflow among different companies [3] Individual Stock Capital Flow - Xu Guang Electronics had a net inflow of 149 million yuan from institutional investors, while it faced a net outflow of 53.176 million yuan from retail investors [3] - Hao Li Technology saw a net inflow of 81.847 million yuan from institutional investors, but a net outflow of 39.637 million yuan from retail investors [3]

Core Viewpoint - The company is actively engaged in the commercial aerospace and controlled nuclear fusion sectors, focusing on the development and supply of critical electronic vacuum devices and power components, which are expected to drive long-term growth despite currently representing a small portion of overall revenue [1] Group 1: Commercial Aerospace - The company provides electronic vacuum devices for new satellite platforms and communication systems for commercial aircraft, and has achieved small-scale supply [1] Group 2: Controlled Nuclear Fusion - In the nuclear fusion sector, the company focuses on key power devices required for fusion reactors, including vacuum capacitors, hydrogen thyratrons, high-power klystrons, and cyclotron tubes [1] - The vacuum capacitors have already achieved mass supply, while hydrogen thyratrons and high-power klystrons are in critical stages of research and customer validation [1] - Cyclotron tubes are currently in the product development phase [1] Group 3: Market Position and Future Outlook - Both sectors are in a market expansion phase, maintaining a good growth momentum, and are considered important strategic directions for the company's long-term development [1]

| 证券代码：688103 | 证券简称：国力电子 | 公告编号：2026-001 | | --- | --- | --- | | 转债代码：118035 | 转债简称：国力转债 | | 昆山国力电子科技股份有限公司 关于可转债转股结果暨股份变动的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 累计转股情况：截至 2025 年 12 月 31 日，"国力转债"累计有人民币 19,000 元已转换为昆山国力电子科技股份有限公司（以下简称"公司"）股票，转股数 量为 299 股，占"国力转债"转股前公司已发行股份总额的 0.000312%； 未转股可转债情况：截至 2025 年 12 月 31 日，"国力转债"尚未转股的 可转债金额为 479,981,000 元，占"国力转债"发行总量的 99.9960%； 本季度转股情况："国力转债"自 2023 年 12 月 18 日起开始进入转股期， 自 2025 年 10 月 1 日起至 2025 年 12 月 31 日，"国力转债"共有人民币 1,000 元已转 ...