7月18日早盘，国防军工板块继续活跃，中证军工指数飘红，成份股方面，建设工业一字涨停两连板， 应流股份涨超6%，中无人机涨超4%；长城军工、国科军工调整居前。 近期，申万证券研究所发布投资提示指出，国防军工行业订单正逐级有序传导，业绩拐点或将至。当前 国防军工基本面进入上行大周期，内需因军队建设处于"机械化 + 信息化"冲刺期，未来有望切入"智能 化 + 无人化"周期，提升国内需求；军贸方面，全球地缘政治变化使军贸需求扩大，我国产品性能和供 给能力获认可，军贸供需将共振，造就大格局。 该机构认为，国防军工增长大周期有望提升行业估值，军贸重塑全球格局与国内建设大周期打开国防军 工大空间，"科技平权"有望获更高估值。随着市场关注度提升和十五五规划推进，结合军队换装大周期 和军贸新格局，国防军工有望实现基本面和行业估值双击。建议持续加大国防军工关注度。 MACD金叉信号形成，这些股涨势不错！ 【投国防军工，选"512八一0"】代码含"八一"的国防军工ETF（512810）：兼顾传统主战力量+新域新 质力量，覆盖"商业航天+深海科技+军用AI+低空经济+大飞机"等诸多热门题材，同时是融资融券标的 +互联互通标的，是一 ...

中无人机：预计今年军贸收入14亿左右 智通财经7月10日电，中无人机(688297.SH)发布投资者关系活动记录表公告称，今年以来，随着国际形 势的变化和公司新产品的推出，市场需求逐步恢复，公司的军贸形势将迎来良好转变。目前公司的新产 品翼龙-1G、翼龙-X都已取得军贸出口批复，正积极开展市场推介。此外，多款1000kg级以下的无人机 的出口鉴定进程也在大力推进中，公司军贸市场产品竞争力和体系化方案提供能力不断增强。根据公司 年初的关联交易预计，今年军贸收入预计14个亿左右，预计未来几年将保持稳定增长趋势。 ...

Core Viewpoint - The company plans to repurchase shares through a centralized bidding process, with a total repurchase amount between RMB 100 million and RMB 200 million, aimed at enhancing investor confidence and establishing a long-term incentive mechanism for employees [1][7][10]. Summary by Relevant Sections Repurchase Plan Details - Total repurchase amount: not less than RMB 100 million and not more than RMB 200 million [1][7]. - Source of funds: company’s own funds [9]. - Purpose of repurchase: to be used for employee stock ownership plans or equity incentives; untransferred shares after three years will be canceled [1][7]. - Maximum repurchase price: RMB 60.52 per share, which does not exceed 150% of the average trading price over the previous 30 trading days [1][9]. - Method of repurchase: through the Shanghai Stock Exchange trading system [1][6]. Timeline and Approval - Repurchase period: within 12 months from the approval date by the shareholders' meeting [2][5]. - The repurchase proposal was approved at the first extraordinary shareholders' meeting on June 26, 2025 [2][5]. Shareholder Actions - Major shareholders have confirmed no current plans for share reduction, with one major shareholder having completed a reduction plan on June 9, 2025 [2][12]. - The chairman and vice-chairman plan to increase their shareholdings during the repurchase period [3][11]. Financial Impact - The repurchase is expected to have a minimal impact on the company's financials, with the maximum repurchase amount representing only 2.29% of total assets and 3.52% of net assets [10]. - The company's debt ratio is 34.86%, indicating that the repurchase will not significantly affect its debt servicing ability [10]. Future Share Structure - The repurchase is projected to reduce the total share capital by approximately 0.24% to 0.49%, depending on the final number of shares repurchased [7][8]. Compliance and Governance - The company has established a dedicated repurchase account and will comply with all relevant regulations during the repurchase process [17]. - The board of directors has been authorized to manage the repurchase details, including timing and pricing adjustments as necessary [15].

●回购股份金额：回购资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含）。 ●回购股份资金来源：公司自有资金。 证券代码：688297 证券简称：中无人机 公告编号：2025-029 中航（成都）无人机系统股份有限公司 关于以集中竞价交易方式回购股份的回购报告书 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： ●回购股份用途：本次回购股份拟用于股权激励或员工持股计划；若公司本次回 购的股份未能在股份回购实施结果暨股份变动公告日之后的三年内转让完毕，未 转让股份将依法予以注销。 ●回购股份价格：不超过人民币 60.52 元/股，该价格未超过公司董事会审议通 过回购股份方案决议前 30 个交易日公司股票交易均价的 150%。 ●回购股份方式：通过上海证券交易所交易系统以集中竞价交易方式进行股份回 购。 ●回购股份期限：自公司股东会审议通过本次回购方案之日起 12 个月内，并应 符合中国证监会、上海证券交易所之相关规定。本次回购股份的相关议案已经公 司 2025 年 6 月 26 ...

星标 ★ IPO日报 精彩文章第一时间推送 本周（6月30日至7月6日）将迎来一波解禁潮。 东方财富chioce数据显示，有67只股票迎来解禁，按照6月27日收盘价计算，解禁股市值达到787亿元。其中，最引人注目的莫过于中无人机（688297）6月30日解禁200.2亿 元。另有迪智医药（688192）解禁股市值在百亿以上，概伦电子以解禁股市值69亿位列第三。 此外，7月1日解禁的拓山重工（001226），其解禁股数量占总股本75%、流通盘增幅为300%，为本周解禁比例最高、流通盘扩容最大的"双料冠军"。 值得投资者注意的是，中无人机和拓山重工这两家大规模解禁限售股的公司，近年来的业绩出现明显波动。 中无人机2024年营收和净利润下滑，并出现亏损。拓山重工则坐上"过山车"，不仅连续三年没有赚到现金，去年刚实现扭亏为盈，但分红金额2986.67万元高于2024年的净利 润2025.65万元。 本周解禁市值排名前十股票，数据来源：东方财富chioce AI制图 上年度业绩下滑，本年度迎大规模解禁 本周解禁的限售股市值最高的是中无人机，公司总市值360亿元，于6月30日解禁40337.81万股，均为首发原股东限售股 ...

金融界6月30日消息，上证指数低开高走，上证科创板高端装备制造指数(科创高装，000687)上涨 1.82%，报1039.86点，成交额121.31亿元。 数据统计显示，上证科创板高端装备制造指数近一个月上涨1.78%，近三个月下跌5.77%，年至今上涨 7.06%。 据了解，上证科创板高端装备制造指数从科创板市场中选取50只市值较大的航空装备、卫星及应用、轨 道交通装备、海洋工程装备、智能制造装备等领域上市公司证券作为指数样本，反映科创板市场代表性 高端装备制造产业上市公司证券的整体表现。该指数以2019年12月31日为基日，以1000.0点为基点。 从指数持仓来看，上证科创板高端装备制造指数十大权重分别为：中微公司（10.02%）、九号公司 （9.06%）、石头科技（8.8%）、柏楚电子（4.11%）、道通科技（3.86%）、绿的谐波（3.71%）、中 国通号（3.61%）、铂力特（3.48%）、时代电气（3.0%）、中无人机（2.73%）。 从上证科创板高端装备制造指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证科创板高端装备制造指数持仓样本的行业来看，工业占比70.37%、可选消费占 ...

Core Viewpoint - On June 30, a total of 31 listed companies had their restricted shares unlocked, with a total market value of approximately 31.50 billion yuan [1]. Group 1: Unlocking Details - The specific details of the restricted share unlocks include: - Meili Ecology (000010): 239 million shares from A-share issuance to original shareholders - Xingrong Environment (000598): 4.926 million shares from equity incentive lock-up - Yueyang Xinchang (000819): 526,800 shares from equity incentive lock-up - Gaohong Co., Ltd. (000851): 4.944 million shares from equity incentive lock-up - Zhongyan Chemical (600328): 470,460 shares from equity incentive lock-up - Yangnong Chemical (600486): 115,480 shares from equity incentive lock-up - Kangyuan Pharmaceutical (600557): 2.6093 million shares from equity incentive lock-up - Keda Technology (002518): 1.3953 million shares from equity incentive lock-up - Longci Technology (300835): 562,700 shares from equity incentive lock-up - Weiming Environmental Protection (603568): 3.129 million shares from equity incentive lock-up - Dongrui Co., Ltd. (001201): 486,400 shares from A-share issuance to original shareholders - Sanwei Co., Ltd. (603033): 1.183 million shares from equity incentive lock-up - Naer Co., Ltd. (002825): 140,000 shares from equity incentive lock-up - Jinyinhe (300619): 1.6248 million shares from A-share issuance to legal persons - Tianyuan Environmental Protection (301127): 14.6 million shares with extended lock-up period - Youningwei (301166): 40.6188 million shares with extended lock-up period - Xutian Salt Industry (600929): 3.033 million shares from equity incentive lock-up - Keli Sensor (603662): 722,800 shares from equity incentive lock-up - Gongniu Group (603195): 641,200 shares from equity incentive lock-up - Fuyuan Pharmaceutical (601089): 27.5 million shares from pre-issue lock-up - Xinbang Intelligent (301112): 7.4097 million shares from pre-issue lock-up - Shanghai Port Bay (605598): 29,400 shares from equity incentive lock-up - Dingjide (603255): 507,500 shares from equity incentive lock-up - United Precision (001268): 6.154 million shares from pre-issue lock-up - Pinggao Co., Ltd. (688227): 48.9585 million shares - Chunli Medical (688236): 20.9 million shares - Zhongwulian (688297): 40.3 million shares - Lais Information (688631): 163,480 shares - Shichuang Energy (688429): 200,000 shares - Xindong Link (688582): 220,840 shares - Aike Saibo (688719): 100,000 shares [2].

Investment Rating - The report rates the defense and military industry as "Outperforming the Market" [2] Core Views - The global geopolitical situation remains tense, with ongoing conflicts such as the Russia-Ukraine war and rising risks in the Middle East, leading to an intensified arms race and increased focus on military construction [4][38] - The defense industry is expected to see a recovery in demand as the "14th Five-Year Plan" approaches its final year, with long-term growth certainty supported by clear development goals for 2035 and 2050 [4] - The upcoming military parade on September 3 will showcase both traditional main battle equipment and new combat forces, highlighting advancements in military capabilities [3][40] Summary by Sections Market Review - The defense and military index rose by 6.90% last week, outperforming major indices such as the Shanghai Composite and Shenzhen Component [12] - The current PE (TTM) for the defense and military sector is 79.92 times, with sub-sectors showing varied valuations: aerospace equipment at 143.52 times, aviation equipment at 69.14 times, ground weapons at 174.36 times, naval equipment at 50.76 times, and military electronics at 102.36 times [20][21] Key Recommendations - Recommended companies include: 1. Downstream manufacturers: Hongdu Aviation, AVIC Shenyang Aircraft, AVIC Xi'an Aircraft, and AVIC Helicopter [4] 2. Military new technologies: Lianchuang Optoelectronics, Guangqi Technology, and Zhongjian Technology [4] 3. Underwater equipment: Hailanxin, Yaxing Anchor Chain, and Zhongke Haixun [4] 4. Missile industry chain: Feilihua, Guoke Military Industry, and Zhongbing Hongjian [4] 5. Military titanium materials: Western Superconducting [4] 6. Electronic components: Hongyuan Electronics and Aerospace Electronics [4] 7. Military trade direction: Zhongwu Drone [4] Industry Dynamics - Recent policies related to deep-sea technology indicate significant development potential, particularly for specialized equipment like UUVs, supported by top-level planning [3] - The military trade market is expanding, with recent announcements of procurement from Pakistan for Chinese fighter jets, indicating a growing opportunity in military exports [39]

Group 1 - The company held a shareholders' meeting on June 26, 2025, in Chengdu, Sichuan Province, with 402 ordinary shareholders present, representing 71.4367% of the voting rights [1][2] - All resolutions presented at the meeting were approved, with voting results showing overwhelming support from ordinary shareholders, such as 99.9838% in favor of one resolution [1][2] - The meeting was conducted in accordance with the Company Law and the company's articles of association, with a combination of named voting and online voting methods [1][2] Group 2 - The company provided details on the share repurchase plan, including the types of shares to be repurchased, the methods, and the intended use of the repurchased shares [3] - The company confirmed that the repurchase would be funded through its own resources and outlined arrangements for the cancellation or transfer of repurchased shares [3] - Legal compliance was verified by lawyers present at the meeting, ensuring that the procedures followed were in line with relevant laws and regulations [3]

北京市嘉源律师事务所 关于中航(成都)无人机系统股份有限公司 北京市嘉源律师事务所 关于中航(成都)无人机系统股份有限公司 2025 年第一次临时股东大会的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 演拿师事案 P A YUAN LAW OFFICES 北京 BEIJING ·上海 SHANGHAI ·深圳 SHENZHEN ·香港 HONG KONG ·广州 GUANGZHOU·西安 XI'AN 致:中航(成都)无人机系统股份有限公司 2025年第一次临时股东大会的法律意见书 嘉源(2025) -04-463 号 北京市嘉源律师事务所(以下简称"本所")接受中航(成都)无人机系统 股份有限公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以 下简称"《公司法》")、《上市公司股东会规则》(以下简称"《股东会规则》") 等现行有效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规") 以及《中航(成都)无人机系统股份有限公司章程》(以下简称"《公司章程》") 的有关规定,指派本所律师对公司 2025年第一次临时股东大会(以下简称"本 次股东大会"）进行见证,并依 ...