Core Viewpoint - The company, Zhong无人机 (688297.SH), has signed a sales contract with AVIC International Trade & Export Co., Ltd. for drone systems, with a total contract value of 615 million yuan (excluding tax) [1] Group 1: Contract Details - The contract amount is 615 million yuan, which indicates a significant business transaction for the company [1] - The contract is categorized as a routine operational sales agreement, suggesting ongoing business activities in the drone sector [1] Group 2: Related Parties - AVIC International Trade & Export Co., Ltd. is a subsidiary of the same actual controller, China Aviation Industry Corporation, which holds a 6.44% stake in the company [1] - The relationship between the two companies qualifies as a related party transaction under the Shanghai Stock Exchange's rules for the Sci-Tech Innovation Board [1]

证券代码：688297 证券简称：中无人机 公告编号：2025-037 中航（成都）无人机系统股份有限公司 关于签订日常经营重大合同暨关联交易的公告 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: 对上市公司当期业绩的影响：本次交易属于中航（成都）无人机系统股 份有限公司（以下简称"公司"）日常经营活动相关合同。若本销售合同顺利履 行，将对公司 2025 年及合同履行年度经营业绩产生积极的影响，具体情况将根 据合同履行情况以及企业会计准则、公司会计政策相关规定确认。 合同履行中的重大风险及重大不确定性：合同双方均具有良好的履约能 力，但在合同履行期间若外部宏观环境及国家有关政策发生重大不利变化，或客 户需求产生不利变化，又或出现其他不可预见或不可抗力因素，可能影响合同的 最终执行情况，敬请广大投资者注意投资风险。 1 合同类型：日常经营销售合同 合同金额：61,547.67 万元人民币（不含税） 合同生效条件：经双方盖章及授权代表签字之日起生效 合同履行期限：按照合同约定履行 本次交易未构成重大资产重组 公 ...

Core Viewpoint - The company has signed a sales contract with AVIC International Trade & Export Co., Ltd. for drone systems, totaling 615 million yuan (excluding tax) [1] Group 1: Contract Details - The total contract value is 615 million yuan (approximately 61.5 million thousand) [1] - The contract pertains to drone systems [1] Group 2: Relationship with Shareholder - AVIC International Trade & Export Co., Ltd. is a subsidiary of the same actual controller, China Aviation Industry Corporation, which holds a 6.44% stake in the company [1] - The relationship between the company and AVIC International Trade & Export Co., Ltd. qualifies as a related party transaction under the Shanghai Stock Exchange's rules [1]

证券代码：688297 证券简称：中无人机 公告编号：2025-036 中航(成都)无人机系统股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 09 月 30 日（星期二）15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 23 日（星期二）至 09 月 29 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 avicuasir@163.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 中航(成都)无人机系统股份有限公司（以下简称"公司"）已于 2025 年 4 月 26 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果 ...

Core Insights - Emergency rescue capability is a key indicator of a country's social service level and modernization, with a focus on developing aviation rescue to enhance China's emergency rescue system [1][10] - The Chinese aviation emergency rescue market is experiencing rapid growth, with the market size projected to increase from 500 million yuan in 2015 to 1.259 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 10.81% [11] - The market is expected to reach 1.332 billion yuan by 2025, driven by increased government investment and rising societal demand for rescue services [11] Industry Overview - Aviation rescue refers to the use of aircraft for rescue operations, providing rapid and efficient assistance in remote or difficult terrains [3] - The industry has evolved through various stages, including initial development, establishment of a comprehensive system, and enhancement of capabilities [6] Policy Framework - Recent policies have integrated aviation rescue into the national emergency management system, emphasizing its importance for public safety and emergency management [6][10] - Key policies include the "14th Five-Year Plan for Emergency Rescue Force Construction" and the "Green Aviation Manufacturing Development Outline (2023-2035)" [6] Market Dynamics - The aviation emergency rescue market is segmented into aviation medical emergency rescue and other aviation emergency rescue, with the medical segment expected to grow from 37 million yuan in 2015 to 183 million yuan in 2024, a CAGR of 19.44% [11] - Other segments are projected to grow from 463 million yuan in 2015 to 1.076 billion yuan in 2024, with a CAGR of 9.82% [11] Competitive Landscape - The market features a variety of players, including listed companies like CITIC Offshore Helicopter (000099) and AVIC Shenyang Aircraft (600760), as well as numerous private firms [2][12] - Companies are increasingly participating in the aviation rescue sector, driven by policy support and market potential [12] Future Trends - The industry is expected to see technological upgrades, including the introduction of high-performance helicopters and drones, enhancing response capabilities in complex environments [15] - Application scenarios are expanding beyond natural disaster response to include urban firefighting, maritime search and rescue, and cross-border rescue collaboration [16] - The focus will be on improving response speed and operational efficiency through optimized processes and the integration of artificial intelligence for decision-making [18]

Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Insights - The military trade market is significantly influenced by geopolitical factors, with advanced weaponry impacting national military capabilities and political dynamics. The U.S. and its allies dominate global military trade exports, accounting for 64.10% and 78.06% of total exports in the periods 2015-2019 and 2020-2024, respectively [2][34] - The global military trade market is characterized by high concentration, with the top ten exporting countries accounting for 89.70% of total exports from 2015-2019 and 88.60% from 2020-2024. The U.S. and France are the top two exporters in the latter period, with a combined share of 52.60% [2][34] - China's military trade share is expected to increase in the long term, aligning with its manufacturing capabilities and international influence, despite currently holding only 3.9% of the global military trade market in 2024 [2][34] Summary by Sections Military Trade Overview - Military trade, or arms trade, is a unique sector closely tied to geopolitical and military strategies, reflecting national interests and political continuity [12] - The United Nations defines military trade as the transfer of military equipment between countries, which plays a crucial role in regulating international political relations [12] Global Military Trade Landscape - According to SIPRI, global military trade has experienced stable growth, with total trade increasing from 80.82 billion TIV in 1950 to 289.38 billion TIV in 2024, reflecting a compound annual growth rate of 1.72% [30] - The military trade market has undergone three significant fluctuations since 1950, with the most recent period (2002-present) showing a recovery in trade volumes due to increased global tensions and military spending [30] Major Military Exporting Countries - The top five military exporting countries from 2015-2019 were the U.S., Russia, France, China, and Germany, with the U.S. maintaining a dominant position [34] - The military trade export figures for the U.S. rose from 503.68 billion TIV in 2015-2019 to 609.49 billion TIV in 2020-2024, marking a 21.01% increase [35] China's Military Trade Situation - China's military trade has seen fluctuations, with exports decreasing from 88.62 billion TIV in 2015-2019 to 83.85 billion TIV in 2020-2024, a decline of 5.38% [35] - The report highlights that China's military trade is expected to grow due to increasing geopolitical conflicts and the country's enhanced military capabilities [2][34]

Group 1 - The Shanghai Stock Exchange has announced the candidate list for the third Technology Innovation Advisory Committee, which includes 60 individuals, with a public notice period of 5 working days [1] - Notable candidates include chairpersons and executives from listed companies such as Yinjia Yao from Zhongwei Company, Ji Fan Gao from Trina Solar, Xiaolong He from China Resources Microelectronics, and Lianshan Zhang from Jiangsu Hengrui Medicine [1] - The list also features founders and CEOs from well-known technology companies, including Xingxing Wang from Yushu Technology, Bicheng Han from Qiangnao Technology, Zhihui Peng from Zhiyuan Robotics, and He Wang from Galaxy General Robotics [1] Group 2 - The complete candidate list includes various professionals from different sectors, such as environmental planning, medical innovation, and aerospace engineering [2] - Key individuals on the list include Wang Wei Dong from the PLA General Hospital, Yinjia Yao from Zhongwei Semiconductor Equipment, and Ji Fan Gao from Trina Solar [2][3] - The committee aims to enhance the technological innovation landscape in China by leveraging the expertise of these candidates [1]

Core Viewpoint - The company is focusing on product development driven by market demand, creating a diversified product lineup that includes "high, medium, and low" and "large, medium, and small" categories [1] Group 1: Product Development - The company is developing products based on market demand, ensuring a comprehensive product layout [1] - The product strategy includes a combination of different sizes and categories to meet diverse customer needs [1] Group 2: Market Engagement - The company is actively promoting its products in overseas markets, enhancing communication with customers [1] - Continuous engagement with clients is aimed at deepening the understanding of market demands, which will support new product development and market order fulfillment [1]

Group 1 - The company stated that its operating conditions are normal and there are no undisclosed significant information that needs to be disclosed [2] - The company will strictly follow legal regulations and its share repurchase plan during the repurchase period and will fulfill its information disclosure obligations in a timely manner [2]

Core Points - The stock price of Zhong UAV fell by 2.01% on September 8, trading at 46.26 yuan per share with a market capitalization of 31.225 billion yuan [1] - The company has seen a year-to-date stock price increase of 14.85%, but has experienced declines of 21.91% over the past five trading days and 21.03% over the past 20 days [1] Company Overview - Zhong UAV, officially known as AVIC (Chengdu) UAV Systems Co., Ltd., was established on August 1, 2007, and went public on June 29, 2022 [1] - The company specializes in the design, research and development, manufacturing, sales, and service of UAV systems, with 100% of its revenue derived from UAV system products and services [1] - The company is classified under the defense and military industry, specifically in the aviation equipment sector, and is associated with concepts such as general aviation, military-civil integration, and aerospace military industry [1] Financial Performance - As of June 30, the number of shareholders for Zhong UAV increased by 29.56% to 36,500, with an average of 18,496 circulating shares per person, up by 91.80% [2] - For the first half of 2025, the company reported revenue of 439 million yuan, a year-on-year increase of 61.27%, and a net profit attributable to shareholders of 31.773 million yuan, up by 182.76% [2] - Since its A-share listing, Zhong UAV has distributed a total of 357 million yuan in dividends [2] Institutional Holdings - As of June 30, 2025, several ETFs and institutional investors, including 华夏上证科创板50成份ETF and 易方达上证科创板50ETF, have exited the top ten circulating shareholders list [2]