北京理工导航控制科技股份有限公司 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、准确性和完整性依法承担法律责任。 重要容提示： 投资种类：北京理工导航控制科技股份有限公司（以下简称"公司"）将 按照相关规定严格控制风险，对现金管理产品进行严格评估，暂时闲置募集资金 仅投资于安全性高、流动性好、有保本约定的现金管理产品（包括但不限于结构 性存款、通知存款、定期存款、大额存单、协定存款等保本型产品），且该等现 金管理产品不得用于质押，不用于以证券投资为目的的投资行为。产品专用结算 账户（如有）不得存放非募集资金或用作其他用途。 证券代码：688282 证券简称：理工导航 公告编号：2026-005 投资金额：公司拟使用不超过人民币 1.2 亿元（含本数）暂时闲置募集 资金进行现金管理，使用期限自 2026 年 3 月 21 日起 12 个月内有效。在上述额 度和期限范围内，资金可循环滚动使用。 已履行及拟履行的审议程序：公司于 2026 年 3 月 19 日召开第二届董事 会第二十六次会议，审议通过了《关于使用部分暂时 ...

中国国际金融股份有限公司 关于北京理工导航控制科技股份有限公司 使用首次公开发行股票部分暂时闲置募集资金进行现金管 理的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为北京 理工导航控制科技股份有限公司（以下简称"理工导航"或"公司"）的保荐机构， 负责对理工导航的持续督导工作。根据《证券发行上市保荐业务管理办法（2025 年修订）》《上海证券交易所上市公司自律监管指引第11号—持续督导（2025年 3月修订）》等有关法律、法规的规定，中金公司作为正在履行理工导航持续督 导工作的保荐机构，对使用闲置募集资金进行现金管理的事项进行了核查，有关 情况报告如下： 一、投资情况概述 （一）投资目的 为提高募集资金使用效率，在不影响公司募集资金投资项目建设实施、募集 资金使用计划和保证募集资金安全的情况下，公司将合理使用部分暂时闲置募集 资金进行现金管理，提高募集资金使用效益、增加公司股东回报。 （二）投资金额 在保证不影响公司募集资金投资计划正常进行的前提下，公司拟使用最高不 超过人民币 1.2 亿元（含本数）的暂时闲置募集资金进行现金管理，在期限内任 一时点的现金管理金额（含前述投资的收 ...

Core Insights - The report identifies a new cycle in China's defense equipment construction driven by "steady growth in traditional military industry" and "rapid development of civilian conversion of military technology" [4] - Traditional military industry is expected to continue its systematic and long-term progress, supported by key milestones such as the centenary of the People's Liberation Army in 2027 and the modernization goals by 2035 [4] - The civilian conversion of military technology is accelerating, creating new growth opportunities in various emerging industries, significantly enhancing the industry's elasticity [4] Group 1: Domestic and International Market Dynamics - The domestic market is expected to stabilize, while the international market presents new expansion opportunities for military trade [5][17] - The "14th Five-Year Plan" is initiating a new construction cycle, with a focus on enhancing military capabilities through mechanization and information technology [7][19] - The military trade landscape is evolving, with a shift towards a more integrated and systematic approach to military exports [52][56] Group 2: Military Technology Spillover - Military technology is increasingly spilling over into civilian applications, broadening the growth space and enhancing elasticity in the military industry [70][73] - Key areas of focus include commercial aerospace, advanced aircraft engines, controllable nuclear fusion, and deep-sea technology, which are expected to drive long-term growth [4][80] - The report emphasizes the importance of technological breakthroughs and cost reductions in facilitating the transition from military to civilian applications [76] Group 3: Investment Opportunities - The report highlights specific sectors for investment, including commercial aerospace, the dual-use aircraft industry, and controllable nuclear fusion [4][19] - The commercial aerospace sector is positioned for rapid growth, supported by national policies that prioritize aerospace as a key emerging industry [80][82] - The dual-use aircraft industry is expected to benefit from a resonance of military and commercial development, enhancing overall market potential [4][19]

Major Announcements - Farsen announced that it does not engage in "special optical fibers," "fiber sensing," or related businesses, and may apply for a trading suspension if stock prices continue to rise [1] - COSCO Shipping has suspended new bookings for related routes due to escalating conflicts in the Middle East, affecting several countries [2] Financial Performance - Muxi Co. expects a net loss of 90.76 million to 182 million yuan in Q1 2026, but revenue is projected to grow by 24.84% to 87.26% year-on-year [3] - Shanghai Electric received approval for two offshore wind power projects, which will enhance its green transition and increase clean energy share [4] - Xiamen Tungsten's revenue for January-February 2026 is expected to grow by 60% to 110% year-on-year, driven by rising raw material prices and increased sales [8] - Qiangyi Co. reported a 157.9% year-on-year increase in revenue for January-February 2026, attributed to strong demand in AI computing and the semiconductor industry [9] - Aerospace Intelligence reported a net profit of 881 million yuan for 2025, a year-on-year increase of 11.24% [10] - Yutong Bus sold 1,806 units in February 2026, a 14.96% increase year-on-year [11] Corporate Actions - China National Offshore Oil Corporation has cumulatively increased its stake in the company by 402.79 million yuan [16] - Huayuan Bio announced a temporary shutdown of its cholesterol production line for maintenance, expected to last no more than 45 days [7] - Zhi Gong Technology's shareholder plans to reduce its stake by up to 1.35% due to funding needs [14]

证券代码：688282 证券简称：理工导航 公告编号：2026-004 重要内容提示： 1、履约风险：合同双方具有履约能力，但在合同履行期间，存在外部宏观 环境发生重大变化、行业政策调整、市场环境变化、客户需求变化等不可预测因 素或不可抗力的影响，可能导致合同无法如期履行、全部或部分无法履行的风险。 2、违约风险：合同执行过程中，存在因北京理工导航控制科技股份有限公 司（以下简称"公司"）原因未能按时、按要求供货或提供服务，导致公司承担 违约责任的风险。公司将积极做好相关对应措施，全力保障合同正常履行，敬请 广大投资者注意投资风险。 对上市公司当期业绩的影响：公司主要从事惯性导航系统及其核心部件 的研发、生产和销售，并基于自有技术为客户提供导航、制导与控制系统相关技 术服务。根据本次签订合同的约定，此次产品的交付时间为 2026 年，预计将对 公司 2026 年度的资产总额、资产净额、营业收入及营业利润产生积极影响。 一、基本情况 近日，经公司第二届董事会第二十五次会议审议通过，公司与单位 B 完成 《武器装备配套订购合同》（以下简称"订购合同"）的签订。本事项无需提交 股东会审议。 合同类型：销售合同。 合 ...

Investment Rating - The report maintains a recommendation for the defense and military industry [4] Core Insights - The geopolitical risks have escalated following the US and Israel's joint attack on Iran, which is expected to strengthen the growth expectations for military spending [6][15] - The Chinese military trade is anticipated to experience structural expansion opportunities due to the high cost-performance ratio and the absence of political conditions attached to Chinese military equipment [16][18] - The report highlights a significant calendar effect observed in the military industry index before and after the National People's Congress meetings [21][24] - The defense budget in China is projected to grow steadily by 7%-7.5% in 2026, driven by geopolitical tensions [21][24] Summary by Sections Section 1: Geopolitical Risks - The US and Israel launched a coordinated attack on Iran on February 28, 2026, leading to a significant military response from Iran [8][15] - The escalation of geopolitical risks is expected to enhance military spending growth expectations, with a focus on main battle equipment and new domains [15] Section 2: National Congress Outlook - The military industry index typically outperforms the Shanghai Composite Index before the National Congress meetings, with a notable increase of 4.4% one month prior and 1.7% one week prior [21][22] - The focus of the upcoming National Congress is expected to be on domestic innovation and emerging sectors within the military industry [24][25] Section 3: Military Trade Opportunities - Chinese military equipment is positioned as a core alternative for Middle Eastern countries, with expectations for military trade to increase from the current 3.82% to 10%-15% [16][18] - The report suggests focusing on key players in military trade, including 中航沈飞 (AVIC Shenyang Aircraft Corporation) and 中航成飞 (AVIC Chengfei), among others [18][47] Section 4: Investment Recommendations - Short-term opportunities are identified in commercial aerospace and military trade, with significant growth expected in the next five years [45] - Long-term prospects remain strong, with defense spending expected to maintain a growth rate of around 7% leading up to the centenary of the military [45]

Core Viewpoint - The company reported significant revenue growth for the fiscal year 2025, but it also faced losses in net profit and other key financial metrics [1] Financial Performance - The company achieved total operating revenue of 301 million yuan, representing a year-on-year increase of 76.17% [1] - The operating profit was -5.16 million yuan, an increase of 1.21 million yuan compared to the same period last year [1] - The total profit amounted to -5.17 million yuan, which is an increase of 1.36 million yuan year-on-year [1] - The net profit attributable to shareholders was -9.27 million yuan, a decrease of 4.74 million yuan compared to the previous year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -19.43 million yuan, a decrease of 10.65 million yuan year-on-year [1]

Core Viewpoint - The company reported a significant increase in total operating revenue for the year 2025, indicating strong growth performance [2] Group 1: Financial Performance - The company achieved total operating revenue of 301.04 million yuan in 2025 [2] - This represents a year-on-year growth of 76.17% [2]

Financial Performance - The total operating revenue for 2025 reached CNY 301.04 million, a year-on-year increase of 76.17%[2] - The operating profit was CNY -5.16 million, an improvement of CNY 1.21 million compared to the previous year[5] - The total profit amounted to CNY -5.17 million, an increase of CNY 1.36 million year-on-year[5] - The net profit attributable to shareholders was CNY -9.27 million, a decrease of CNY 4.74 million compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -19.43 million, a decrease of CNY 10.65 million year-on-year[3] - The basic earnings per share decreased by CNY 0.06 to CNY -0.11[3] Assets and Equity - Total assets at the end of the reporting period were CNY 1,612.15 million, a year-on-year increase of 3.56%[5] - Shareholders' equity attributable to the company was CNY 1,273.32 million, a decrease of 0.51% compared to the beginning of the period[5] Impairment Provisions - The company recognized goodwill impairment of approximately CNY 19 million for the acquisition of Shijiazhuang Yuxun Electronics and Beijing Haiwei Technology[5] - The company also made a provision for impairment of approximately CNY 7 million for receivables and inventory related to a dispute with Beijing Yingsiang Dongfang Technology[6]

Core Viewpoint - The company reported a significant increase in total operating revenue for the fiscal year 2025, but also faced a net loss attributed to goodwill impairment and provisions for receivables and inventory [1] Financial Performance - Total operating revenue reached 301.04 million yuan, representing a year-on-year growth of 76.17% [1] - The net profit attributable to shareholders was a loss of 9.27 million yuan, a decrease of 4.74 million yuan compared to the same period last year [1] Impairment and Provisions - The loss was primarily due to a goodwill impairment of approximately 28 million yuan related to Yuxun Electronics and Haiwei Technology [1] - Additionally, the company made provisions of about 7 million yuan for receivables and inventory related to Yingxiang Dongfang [1] Asset and Equity Position - As of the end of the reporting period, total assets amounted to 1.61 billion yuan, an increase of 3.56% year-on-year [1] - The equity attributable to shareholders decreased by 0.51% to 1.27 billion yuan [1]