Summary of Key Points Core Viewpoint - The announcement details the completion of a share reduction plan by a specific shareholder of Wuxi Hangya Technology Co., Ltd., indicating a total reduction of 1,198,871 shares, which represents 0.46% of the company's total share capital [1][2]. Group 1: Shareholder Information - The shareholder, Wuxi Huahang Kechuang Investment Center (Limited Partnership), held 9,392,171 shares prior to the reduction, accounting for 3.63% of the company's total shares [1]. - The shareholder is classified as a significant shareholder and is part of a group of concerted actors, which includes other individuals holding substantial shares [1]. Group 2: Reduction Plan Implementation - The reduction plan was executed between May 26, 2025, and August 25, 2025, through centralized bidding, resulting in a total reduction of 1,198,871 shares [2]. - The price range for the shares sold during the reduction was between 18.46 and 19.19 yuan per share, leading to a total amount of 22,581,029.88 yuan from the sale [2]. - The current holding of the shareholder after the reduction is 8,193,300 shares, which is 3.17% of the total shares [2].

金融界消息 截至2025年8月25日收盘，航亚科技（688510）报收于25.49元，上涨0.28%，换手率 3.37%，成交量8.72万手，成交金额2.21亿元。 天眼查商业履历信息显示，无锡航亚科技股份有限公司，成立于2013年，位于无锡市，是一家以从事软 件和信息技术服务业为主的企业。企业注册资本25838.2608万人民币，实缴资本13578.2608万人民币。 公司法定代表人为严奇。 通过天眼查大数据分析，无锡航亚科技股份有限公司共对外投资了3家企业，参与招投标项目73次，知 识产权方面有商标信息7条，专利信息168条，此外企业还拥有行政许可51个。 来源：金融界 资金流向方面，今日主力资金净流出1288.29万元，占比成交额5.82%。其中，超大单净流出796.67万 元、占成交额3.6%，大单净流出491.62万元、占成交额2.22%，中单净流出流入1556.68万元、占成交额 7.03%，小单净流出268.39万元、占成交额1.21%。 航亚科技最新一期业绩显示，截至2025中报，公司营业总收入3.69亿元、同比增长8.76%，归属净利润 6121.27万元，同比减少8.92%，扣非净利润53 ...

Group 1 - The company, Hangya Technology, announced a reduction in shares by its shareholder Huahang Kechuang, amounting to approximately 1.1989 million shares, which represents 0.46% of the company's total share capital [1] - For the fiscal year 2024, the revenue composition of Hangya Technology is as follows: 91.86% from aviation, 6.8% from medical, and 1.34% from other businesses [1] - As of the report, Hangya Technology has a market capitalization of 6.6 billion yuan [1]

证券代码：688510 证券简称：航亚科技 公告编号：2025-035 无锡航亚科技股份有限公司 关于特定股东减持股份计划时间届满暨减持股份结果公告 本公司董事会、全体董事及相关股东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： 股东持有的基本情况 本次减持计划实施前，无锡航亚科技股份有限公司（以下简称"公司"）股东 无锡华航科创投资中心（有限合伙）（以下简称"华航科创"）持有公司股份 9,392,171 股，占公司总股本的 3.63%，上述股份为华航科创在公司首次公开发行 前取得股份，已解除限售并上市流通。 减持计划的实施结果情况 2025 年 4 月 29 日，公司在上海证券交易所网站（www.see.com.cn）披露了 《无锡航亚科技股份有限公司关于特定股东减持股份计划公告》（公告编号： 2025-026）。华航科创拟通过集中竞价或大宗交易的方式减持其所持有的公司股 份合计不超过 1,200,000 股，即不超过公司股份总数的 0.46%。 近日，公司收到股东华航科创出具的告知函，在减持股份计划期间，华航科 创通过集中 ...

证券代码：688510 证券简称：航亚科技 上交所公告编号：2025-036 无锡航亚科技股份有限公司 关于参加 2025 年半年度科创板集体业绩说明会的公告 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： 投资者可于 2025 年 08 月 26 日 （星期二） 至 09 月 01 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 IRM@hyatech.cn 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。 无锡航亚科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 12 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、财务状况等事项，公司拟参加 2025 年半年度科创板交通概念行业 集体业绩说明会，就投资者关心的问题进行交流。 二、 说明会召开的时间、方式 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通， ...

Group 1 - The core viewpoint of the article highlights the recent financing activities of Hangya Technology, which saw a net financing inflow of 24.95 million yuan last week, ranking 479th in the market [1] - Hangya Technology's financing buy amount reached 171 million yuan, while the repayment amount was 146 million yuan [1] - The company operates in several concept sectors, including aerospace, Jiangsu region, specialized and innovative enterprises, margin trading, large aircraft, medical devices, and general aviation [1] Group 2 - Over the past 5 days, the main capital outflow from Hangya Technology was 42.68 million yuan, with a decline of 3.58% during this period [1] - In the last 10 days, the main capital outflow totaled 54.26 million yuan, with a decrease of 2.21% [1] - Hangya Technology, established in 2013 and located in Wuxi, primarily engages in software and information technology services, with a registered capital of 2.58382608 billion yuan and a paid-in capital of 1.35782608 billion yuan [1] Group 3 - The company has made investments in 3 external enterprises and participated in 73 bidding projects [1] - Hangya Technology holds 7 trademark registrations and 168 patent filings, along with 51 administrative licenses [1] - The legal representative of the company is Yan Qi [1]

Core Viewpoint -航亚科技's financial report for the first half of 2025 shows a revenue of 369 million yuan, an increase of 8.76% year-on-year, but a net profit attributable to shareholders decreased by 8.92% to 61.21 million yuan, primarily due to increased share-based payment expenses [3][4][8] Financial Performance - The company's revenue for the first half of 2025 was 369 million yuan, with a year-on-year growth of 8.76% [3] - The net profit attributable to shareholders was 61.21 million yuan, a decrease of 8.92% year-on-year [3] - The non-recurring net profit was 53.90 million yuan, down 18.35% year-on-year [3] - The increase in share-based payment expenses was the main reason for the decline in net profit [4][6] Expense Analysis - The company's operating expenses, referred to as "three fees," saw significant increases: sales expenses rose by 16.17%, management expenses by 40.12%, and financial expenses surged by 106.71% [4] - The increase in share-based payment expenses was a major contributor to the rise in sales and management expenses [4][6] Share-Based Payment Plan - The company implemented a restricted stock incentive plan in 2024, granting 5.5 million shares to incentivize management and align their interests with shareholders [5] - A high concentration of share grants was noted, with six core executives receiving 60% of the total shares allocated under the plan [6][7] Accounts Receivable Concerns - The company's accounts receivable reached 392 million yuan by the end of June 2025, exceeding its revenue for the first half of 2025 [8][9] - The accounts receivable as a percentage of revenue has increased significantly over the past three years, indicating a growing reliance on credit sales [8][9] - The company acknowledged the risks associated with high accounts receivable but noted that 95.45% of it was within one year, with clients being reputable aviation companies [8][10] Cash Flow Situation - Despite revenue growth, the net cash flow from operating activities decreased by 35.55% year-on-year, indicating potential liquidity issues [8][10]

Core Points - The stock price of Hangya Technology (688510) closed at 25.7 yuan on August 15, 2025, with an increase of 1.26% and a turnover rate of 2.65% [1] - The company reported a total revenue of 369 million yuan for the first half of 2025, representing a year-on-year growth of 8.76%, while the net profit attributable to shareholders decreased by 8.92% to 61.21 million yuan [1] - The company has a current ratio of 1.584, a quick ratio of 1.218, and a debt-to-asset ratio of 37.22% [1] Financial Performance - Total revenue for the first half of 2025: 369 million yuan, up 8.76% year-on-year [1] - Net profit attributable to shareholders: 61.21 million yuan, down 8.92% year-on-year [1] - Non-recurring net profit: 53.90 million yuan, down 18.35% year-on-year [1] - Current ratio: 1.584 [1] - Quick ratio: 1.218 [1] - Debt-to-asset ratio: 37.22% [1] Company Overview - Hangya Technology was established in 2013 and is located in Wuxi City, primarily engaged in software and information technology services [1] - The registered capital of the company is 2.583 billion yuan, with paid-in capital of 1.3578 billion yuan [1] - The legal representative of the company is Yan Qi [1] Investment and Intellectual Property - The company has made investments in 3 enterprises and participated in 73 bidding projects [2] - It holds 7 trademark registrations and 168 patents, along with 51 administrative licenses [2]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company reported a revenue of 369 million in H1 2025, representing a year-on-year growth of 8.76%. However, the net profit attributable to the parent company was 61 million, a decrease of 8.92% year-on-year. The net profit after deducting non-recurring items was 54 million, down 18.35% year-on-year [2][6]. - In Q2 2025, the company achieved a revenue of 195 million, which is a 9.11% increase year-on-year and a 12.27% increase quarter-on-quarter. The net profit attributable to the parent company was 31 million, a decrease of 14.13% year-on-year and a decrease of 0.44% quarter-on-quarter [2][6]. - The company’s domestic engine parts business saw a significant growth of 44.26% year-on-year in H1 2025, indicating strong performance in the domestic aviation sector [12]. - The company received the "Best Performance Supplier" award at the Safran Group's annual supplier conference, highlighting its expanding product offerings and customer base [12]. - The company anticipates accelerated deliveries in the second half of 2025, with projected net profits of 80 million to 105 million, representing a year-on-year growth of 33% to 75% [12]. Financial Summary - The company’s revenue for 2025 is projected to be 878 million, with net profits expected to reach 144 million, reflecting a year-on-year growth of 14% [16]. - The gross profit margin for H1 2025 was 39.81%, a decrease of 2.87 percentage points year-on-year, while the net profit margin was 16.72%, down 2.79 percentage points year-on-year [12]. - The company’s earnings per share (EPS) for 2025 is estimated at 0.56, with a price-to-earnings (P/E) ratio of 48.01 [16].

Core Viewpoint -航亚科技 (688510) reported mixed financial results for the first half of 2025, with revenue growth but a decline in net profit and profitability margins [1] Financial Performance - Total revenue for the first half of 2025 reached 369 million yuan, an increase of 8.76% year-on-year [1] - Net profit attributable to shareholders was 61.21 million yuan, down 8.92% year-on-year [1] - Gross margin decreased to 39.81%, a decline of 6.72% year-on-year [1] - Net margin fell to 16.72%, down 14.3% year-on-year [1] - Operating cash flow per share was 0.12 yuan, a decrease of 35.55% year-on-year [1] Expense Analysis - Total expenses (selling, administrative, and financial) accounted for 12.3% of total revenue, an increase of 34.44% year-on-year [1] - Selling expenses rose by 16.17%, attributed to increased share-based payments [5] - Administrative expenses increased by 40.12%, also due to share-based payments [6] - Financial expenses surged by 106.71%, driven by higher interest expenses and reduced foreign exchange gains [7] Balance Sheet Highlights - Cash and cash equivalents increased by 66.86% to 236 million yuan [1] - Accounts receivable rose by 41.94% to 392 million yuan [1] - Interest-bearing liabilities increased by 19.92% to 241 million yuan [1] Cash Flow Insights - Net cash flow from operating activities decreased by 35.55%, primarily due to increased procurement payments and tax expenses [8] - Net cash flow from investing activities increased by 61.62%, attributed to reduced fixed asset investments [9] - Net cash flow from financing activities decreased significantly by 211.06%, due to loan repayments and increased borrowing [9] Business Model and Market Position - The company's performance is heavily reliant on capital expenditures, necessitating careful evaluation of capital projects [10] - Historical return on invested capital (ROIC) was 9.68%, indicating average capital returns [10] - The company has experienced inconsistent financial performance since its listing, with four years of losses out of the last eight [10] Fund Holdings - Major funds holding shares in航亚科技 include 招商安本增利债券A and 东方阿尔法招阳混合A, indicating growing institutional interest [11]