证券代码：688143 证券简称：长盈通 公告编号：2025-078 武汉长盈通光电技术股份有限公司 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 11 月 20 日 （二） 股东大会召开的地点：湖北省武汉市东湖新技术开发区高新五路 80 号武 汉长盈通光电技术股份有限公司会议室 2025年第二次临时股东大会决议公告 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。 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 59 | | --- | --- | | 普通股股东人数 | 59 | | 2、出席会议的股东所持有的表决权数量 | 39,670,448 | | 普通股股东所持有表决权数量 | 39,670,448 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 31.3426 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例 ...

Core Insights - Changying Tong's stock price increased by 2.01% on November 18, reaching 36.56 CNY per share, with a total market capitalization of 4.708 billion CNY [1] Financial Performance - For the period from January to September 2025, Changying Tong achieved a revenue of 269 million CNY, representing a year-on-year growth of 46.77%, and a net profit attributable to shareholders of 30.786 million CNY, which is a significant increase of 933.24% [2] Shareholder Information - As of September 30, 2025, the number of shareholders increased by 76.27% to 7,987, while the average circulating shares per person decreased by 43.27% to 11,834 shares [2] Business Overview - Changying Tong, established on May 18, 2010, specializes in the research, production, and sales of fiber optic gyroscope core components and solutions, focusing on military inertial navigation applications [2] - The company's revenue composition includes fiber optic ring devices (57.61%), special optical fibers (19.36%), and other segments [2] Institutional Holdings - As of September 30, 2025, the largest circulating shareholder is Huaxia Military Industry Safety Mixed A, holding 5.7146 million shares, an increase of 61,400 shares from the previous period [3]

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].

武汉长盈通光电技术股份有限公司 2025年第二次临时股东大会会议资料 证券代码：688143 证券简称：长盈通 武汉长盈通光电技术股份有限公司 2025年第二次临时股东大会 会议资料 二○二五年十一月 1 / 10 | 2025年第二次临时股东大会会议须知 . | | --- | | 2025年第二次临时股东大会会议议程 . | | 2025年第二次临时股东大会会议议案 . | | 议案一、关于公司使用部分超募资金永久补充流动资金的议案 | | 议案二、关于审议公司变更注册资本、取消监事会、修订及制定部分公司治理制度并办理 | | .. 工商变更登记的议案 | | 议案三、关于补选公司第二届董事会非独立董事的议案 | 武汉长盈通光电技术股份有限公司 2025年第二次临时股东大会会议资料 武汉长盈通光电技术股份有限公司 2025年第二次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保 证股东大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司 法》")《中华人民共和国证券法》（以下简称"《证券法》")《上市公司股 东会规则》以及《武汉长盈通光电技术股份有限公司章程 ...

Investment Rating - The report maintains a "Buy-A" investment rating for the company with a 12-month target price of 45.80 yuan [4][8]. Core Views - The company achieved a revenue of 269 million yuan in the first three quarters of 2025, representing a year-on-year increase of 46.77%, and a significant turnaround in net profit to 30.79 million yuan from a loss of 3.69 million yuan in the same period last year [1]. - The growth in revenue is primarily driven by a substantial increase in the delivery volume of optical fiber components, with a 65.5% year-on-year growth in Q3 2025 [1]. - The company continues to invest heavily in R&D, with R&D expenses increasing by 42.6% to 29.33 million yuan in the first three quarters of 2025, representing a R&D expense ratio of 10.9% [2]. - The company is expanding its business into the optical fiber energy sector and has made a strategic acquisition of Shengyisheng for 158 million yuan, which will enhance its capabilities in optical communication and AI optical modules [3]. Summary by Sections Financial Performance - In Q3 2025, the company reported a revenue of 77 million yuan, with a net profit of 1.68 million yuan, marking a significant recovery from a loss of 18.87 million yuan in the same quarter last year [1]. - The gross margin improved by 6.4 percentage points to 45.4%, and the net margin increased by 43.8 percentage points to 1.7% in Q3 2025 [1]. R&D and Competitive Position - The company is focused on maintaining its leading position in optical fiber sensing by continuously increasing R&D investments and attracting high-end talent [2]. - The establishment of a complete supply chain from fiber to modules enhances the company's core competitiveness [2]. Growth Strategy - The company is actively pursuing both organic and inorganic growth strategies, particularly in the fields of 6G communication, artificial intelligence, and AI computing power [3]. - The acquisition of Shengyisheng is expected to open up new growth avenues and enhance the company's long-term growth potential [3].

Company Overview - Changying Tong is a national-level specialized and innovative "little giant" enterprise established on May 18, 2010, and listed on December 12, 2022, located in Wuhan, Hubei Province [1] - The company focuses on the research, production, sales, and service of optical fiber gyroscope core components, particularly optical fiber rings, and their application in military inertial navigation [1] - The revenue composition includes: optical fiber ring devices 57.61%, special optical fibers 19.36%, others 11.68%, new materials 7.18%, and optical device equipment and others 4.17% [1] Stock Performance - As of November 3, Changying Tong's stock price is 38.91 CNY per share, with a trading volume of 150 million CNY and a turnover rate of 4.16%, resulting in a total market capitalization of 5.011 billion CNY [1] - The stock has experienced a continuous decline over three days, with a cumulative drop of 8.98% [1] Fund Holdings - Changsheng Fund has one fund heavily invested in Changying Tong, specifically Changsheng Aerospace Marine Mixed A (000535), which increased its holdings by 42,800 shares in the third quarter, totaling 221,600 shares, representing 3.94% of the fund's net value [2] - The fund has incurred a floating loss of approximately 42,100 CNY today, with a total floating loss of 850,900 CNY during the three-day decline [2] Fund Manager Performance - The fund manager of Changsheng Aerospace Marine Mixed A is Wang Bingfang, who has been in the position for 3 years and 106 days, managing assets totaling 471 million CNY [3] - The best fund return during Wang's tenure is -5.33%, while the worst return is -47.99% [3]

Market Overview - The low-altitude economy sector experienced a decline of 1.38% on October 30, with Changyingtong leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Top Performers - Penghui Energy (300438) saw a significant increase of 20.00%, closing at 48.59 with a trading volume of 563,500 shares and a transaction value of 2.706 billion [1] - Xinan Century (688201) rose by 10.29%, closing at 16.93 with a trading volume of 422,500 shares and a transaction value of 693 million [1] - Guangha Communication (300711) increased by 8.06%, closing at 23.32 with a trading volume of 252,200 shares and a transaction value of 590 million [1] Underperformers - Changyingdao (688143) fell by 7.93%, closing at 39.36 with a trading volume of 52,300 shares and a transaction value of 210 million [2] - Shenkai Co., Ltd. (002278) decreased by 6.33%, closing at 12.42 with a trading volume of 943,500 shares and a transaction value of 1.199 billion [2] - Fenghua Gaoke (000636) dropped by 6.11%, closing at 16.59 with a trading volume of 775,700 shares and a transaction value of 1.303 billion [2] Capital Flow - The low-altitude economy sector saw a net outflow of 5.235 billion from institutional investors, while retail investors experienced a net inflow of 4.195 billion [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are actively buying [2] Individual Stock Capital Flow - Penghui Energy (300438) had a net inflow of 4.08 billion from institutional investors, while it faced a net outflow of 2.95 billion from speculative funds [3] - China Satellite (600118) recorded a net inflow of 3.54 billion from institutional investors, with a net outflow of 3.91 billion from retail investors [3] - New Clean Energy (605111) saw a net inflow of 1.41 billion from institutional investors, while retail investors had a net outflow of 1.35 billion [3]

Core Viewpoint - The A-share market experienced a decline, with the Shanghai Composite Index falling below 4000 points, indicating a bearish trend in the market [3][4]. Market Performance - The three major indices in A-shares weakened in the afternoon, with the Shanghai Composite Index down 0.73% to 3986.90, the Shenzhen Component Index down 1.16% to 13532.13, and the ChiNext Index down 1.84% to 3263.02 [3][4]. - The market saw a total trading volume of 2.42 trillion yuan, an increase of 165.6 billion yuan compared to the previous trading day, with nearly 4100 stocks declining [7]. Sector Performance - The CPO, semiconductor, trading software, computing hardware, robotics, and photovoltaic sectors experienced significant declines, while the lithium battery, shipping, rare earth permanent magnet, and cultivated diamond sectors showed strength [4][5][6]. - Notably, stocks in the lithium battery sector, such as Penghui Energy and Chang Aluminum, reached their daily limit up [5]. Capital Flow - Main capital inflows were observed in the steel, energy metals, and battery sectors, while there were outflows from communication equipment, semiconductors, and securities sectors [9]. - Specific stocks like Tianqi Lithium and Jiangte Electric saw net inflows of 1.185 billion yuan and 783 million yuan, respectively, while stocks like Xinyisheng and Dongfang Caifu faced significant outflows [10][11]. Market Outlook - Analysts from Galaxy Securities suggest that the market may steadily move upwards along moving averages, with limited chances for a significant pullback, while opportunities lie in sector and stock rotation [12]. - According to Zhongtai Securities, the overall market trend is positive, with the Shanghai Composite Index breaking through the 4000-point mark, driven by the AI server industry chain [12].

Core Points - The company has released its quarterly report, ensuring the accuracy and completeness of the financial information provided [1][2][3] - The company is holding its second extraordinary general meeting of shareholders on November 20, 2025, to discuss various resolutions [6][7][8] - The company has undergone changes in its board of directors, including the resignation of a director and the nomination of a new candidate [27][28][29] - The company has decided to cancel its supervisory board and amend its governance structure, transferring the supervisory responsibilities to the audit committee of the board [32][34] Financial Data - The quarterly report indicates that the financial statements have not been audited, and the company has provided key financial data for the period [1][4][5] - The company has completed a capital increase through the issuance of new shares, raising its registered capital to 128,780,802 yuan [32][33] Shareholder Information - The company has outlined the procedures for shareholders to participate in the upcoming extraordinary general meeting, including voting methods and registration details [8][9][10] - The company has provided information on the voting rights of shareholders and the process for proxy voting [12][18][19] Governance Changes - The resignation of a director due to reaching retirement age has been officially announced, with no adverse effects on the board's operations [28] - The company has nominated a new non-independent director candidate to ensure compliance with governance requirements [29][31] - The decision to abolish the supervisory board is aimed at enhancing the company's governance structure [34]

Core Points - The company has revised its Articles of Association, changing references from "shareholders' meeting" to "shareholders' assembly" and removing sections related to the supervisory board, which will take effect after approval by the shareholders' assembly [1][2][16] - The company has proposed to cancel the supervisory board and amend its governance structure to enhance operational compliance and internal governance mechanisms [2][16][28] - The company plans to use part of the raised funds, amounting to 50 million yuan, to permanently supplement its working capital, which represents 19.59% of the total raised funds [14][26] - The company’s total share capital has increased to 128,780,802 shares following the issuance of shares for asset acquisition, with the registered capital also adjusted to 128,780,802 yuan [16][28] Governance Revisions - The company has revised and established several governance systems in accordance with the latest regulations from the Shanghai Stock Exchange and its own operational needs [2][28] - The board of directors has proposed to authorize the chairman or designated personnel to handle relevant business registration changes after the shareholders' assembly approval [1][16] Board Meeting Outcomes - The board meeting held on October 28, 2025, was attended by all eight directors, and all resolutions were passed unanimously [6][10] - The board approved the third-quarter report for 2025, confirming that it accurately reflects the company's financial status as of September 30, 2025 [7][24] - The board also approved the proposal to appoint a new non-independent director, following the retirement of a previous director [11][12]