Core Viewpoint - *ST Guandian (688287) reported a significant decline in revenue and an increase in net loss for the first half of 2025, indicating ongoing financial challenges for the company [1] Financial Performance - In the first half of 2025, *ST Guandian achieved operating revenue of approximately 10.05 million, a year-on-year decrease of 82.48% [1] - The company reported a net profit attributable to shareholders of approximately -53.21 million, which represents an increase in loss compared to -41.12 million in the same period last year [1] Business Overview - *ST Guandian's main business activities include flight services and data processing, research and development, production, and sales of unmanned flight systems and intelligent defense equipment [1]

观典防务技术股份有限公司2025 年半年度报告 公司代码：688287 公司简称：*ST 观典 观典防务技术股份有限公司 观典防务技术股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，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。 二、 重大风险提示 公司已在本报告中描述可能存在的风险，敬请查阅"第三节管理层讨论与分析"之"四、风 险因素"部分，请投资者注意投资风险。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人高明、主管会计工作负责人王彦及会计机构负责人（会计主管人员）李玲声明： 保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述，不构成公司对投资者的实质承诺，敬 请投资者注意投资风险。 九、 是否存在被控股股东及其他关联方非经营性占用资金情况 ...

Core Viewpoint - The report highlights significant financial challenges faced by Guandian Defense Technology Co., Ltd., with a notable decline in revenue and an increase in losses for the first half of 2025 compared to the previous year [1][2][3]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 847.50 million, a decrease of 5.75% from CNY 899.17 million at the end of the previous year [2]. - Operating revenue for the period was CNY 10.05 million, representing an 82.48% decline from CNY 57.32 million in the same period last year [2]. - The total profit for the period was a loss of CNY 55.04 million, compared to a loss of CNY 43.36 million in the previous year [2]. - Net profit attributable to shareholders was a loss of CNY 53.21 million, worsening from a loss of CNY 41.12 million year-on-year [2]. - The cash flow from operating activities was negative at CNY 27.85 million, compared to a negative CNY 24.16 million in the previous year [2]. Shareholder Information - The total number of shareholders as of the reporting period was 10,447 [3]. - The largest shareholder, Mr. Gao Ming, holds 40.35% of the shares, amounting to 149,494,500 shares, with a significant portion being pledged [3]. - The report indicates that Mr. Gao Ming and Mr. Li Zhenbing are in a concerted action relationship, collectively holding 50.70% of the company's total shares [3]. Regulatory Issues - The company and its actual controller, Mr. Gao Ming, are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [6]. - The company received an administrative penalty notice from the CSRC, indicating ongoing regulatory scrutiny [6][7]. Future Outlook - Following the resolution of compliance issues, the company aims to refocus on its business operations to improve its financial situation [7].

Group 1 - The core point of the article highlights the significant decline in *ST Guandian's financial performance for the first half of 2025, with a reported revenue of approximately 10.05 million yuan, representing a year-on-year decrease of 82.48% [1] - The net loss attributable to shareholders for the same period is approximately 53.21 million yuan, compared to a loss of about 41.12 million yuan in the same period of 2024 [1] - The basic earnings per share for the first half of 2025 is a loss of 0.14 yuan, compared to a loss of 0.11 yuan in the first half of 2024 [1] Group 2 - As of the report, *ST Guandian has a market capitalization of 2 billion yuan [1]

Market Overview - The Shanghai Composite Index closed at 3771.10 points, above the annual line, with a change of 0.13% [1] - The total trading volume of A-shares reached 24603.35 billion yuan [1] Stocks Breaking Annual Line - A total of 28 A-shares have surpassed the annual line today, with notable stocks including: - Meihua Medical (301363) with a deviation rate of 14.81% and a daily increase of 18.00% [1] - Meirui New Materials (300848) with a deviation rate of 4.67% and a daily increase of 5.49% [1] - Kangle Health (833575) with a deviation rate of 4.29% and a daily increase of 4.40% [1] Stocks with Smaller Deviation Rates - Stocks that have just crossed the annual line with smaller deviation rates include: - Guotou Power (600886) with a deviation rate of 0.01% and a daily increase of 1.30% [2] - Shanghai Pharmaceuticals (601607) with a deviation rate of 0.08% and a daily increase of 0.95% [2] - *ST Jinglun (600355) with a deviation rate of 0.20% and a daily increase of 0.86% [2]

Market Overview - The Shanghai Composite Index is at 3781.13 points, above the six-month moving average, with a change of 0.40% [1] - The total trading volume of A-shares is 1,193.075 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 40 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Hengtuo Kaiyuan (8.48%) - Jiangsu Huachen (5.21%) - *ST Guandian (4.26%) [1] Stocks with Smaller Deviation Rates - Stocks with smaller deviation rates that have just crossed the six-month moving average include: - Shenyang Machine Tool - Zhongyuan Expressway - Baoxiniang [1] Performance of Selected Stocks - Hengtuo Kaiyuan: Today's increase of 11.62%, turnover rate of 10.98%, six-month moving average at 17.27 yuan, latest price at 18.73 yuan [1] - Jiangsu Huachen: Today's increase of 5.74%, turnover rate of 4.23%, six-month moving average at 22.24 yuan, latest price at 23.40 yuan [1] - *ST Guandian: Today's increase of 4.31%, turnover rate of 1.05%, six-month moving average at 5.10 yuan, latest price at 5.32 yuan [1]

Market Overview - The Shanghai Composite Index is at 3781.13 points, above the annual line, with a change of 0.40% [1] - The total trading volume of A-shares is 1,193.158 billion yuan [1] Stocks Breaking Annual Line - A total of 31 A-shares have surpassed the annual line today, with notable stocks including Meihua Medical, *ST Aowei, and Pianzaihuang, showing divergence rates of 14.13%, 2.94%, and 2.77% respectively [1] - Stocks with smaller divergence rates that have just crossed the annual line include China Wuyi, Huilun Crystal, and Zhuoshengwei [1] Top Stocks by Divergence Rate - Meihua Medical (301363) has a significant increase of 17.30% with a turnover rate of 23.04% and a divergence rate of 14.13% [1] - *ST Aowei (002231) increased by 3.12% with a turnover rate of 7.79% and a divergence rate of 2.94% [1] - Pianzaihuang (600436) rose by 3.70% with a turnover rate of 1.03% and a divergence rate of 2.77% [1] Additional Notable Stocks - Tongrentang (600085) increased by 1.93% with a divergence rate of 1.77% [1] - Maire Medical (300760) rose by 3.40% with a divergence rate of 1.53% [1] - Other stocks with minor divergence rates include Aima Technology (603529) and China Railway Construction (601186) with divergence rates of 1.06% and 0.96% respectively [1]

北京商报讯（记者 马换换 王蔓蕾）8月20日晚间，*ST观典（688287）披露公告称，公司董事会于8月 19日分别收到公司董事长高明及董事程宇提交的书面辞职报告。 据悉，截至公告披露日，程宇未持有*ST观典股份。高明持有公司40.35%股份，系公司的控股股东、实 际控制人。根据公司2025年4月26日披露于上交所网站的《关于保理事项进展暨非经营性资金占用自查 及整改情况说明的公告》，其承诺不晚于2025年10月31日前偿还占用公司资金本息。 公告显示，高明因个人原因辞去董事长、董事及董事会战略委员会主任委员职务，程宇因个人原因辞去 董事职务。根据相关规定，辞职申请自送达*ST观典董事会之日起生效。辞职后高明担任公司高级顾问 职务且将继续认定为公司核心技术人员，继续支持公司研发工作，程宇仍担任公司总经理职务。 *ST观典表示，高明和程宇的辞职未导致公司董事会成员低于法定最低人数，不会影响公司董事会正常 运行和公司的日常生产经营。高明和程宇将按照公司相关规定做好相关职位的工作交接。公司亦将根据 相关规定，按照法定程序尽快完成公司董事长的选举及董事会专门委员会的补选等相关工作。 *ST观典表示，高明将继续履行尽快 ...

格隆汇8月20日丨*ST观典(688287.SH)公布，董事会于2025年8月19日分别收到公司董事长高明先生及董 事程宇先生提交的书面辞职报告。高明先生因个人原因辞去董事长、董事及董事会战略委员会主任委员 职务，程宇先生因个人原因辞去董事职务。根据相关规定，辞职申请自送达公司董事会之日起生效。辞 职后高明先生担任公司高级顾问职务且将继续认定为公司核心技术人员，继续支持公司研发工作,程宇 先生仍担任公司总经理职务。 ...

Group 1 - The core revenue composition of *ST Guandian for the year 2024 is as follows: 85.27% from aerospace equipment manufacturing and related services, 14.23% from non-lethal weapons, and 0.51% from other businesses [1] Group 2 - On August 20, 2025, *ST Guandian announced the resignation of Chairman Gao Ming and Director Cheng Yu due to personal reasons. Gao will continue as a senior advisor and core technical personnel, while Cheng remains as the General Manager [3]