8月5日下午收盘，A股卫星互联网板块三十余家公司收涨，航天智装、星网宇达、航天环宇、和而泰等涨幅居前。梳理上市公司公告，今年多个公司加大 了卫星互联网布局。 8月4日18时21分，我国在海南商业航天发射场使用长征十二号运载火箭，成功将卫星互联网低轨07组卫星发射升空，卫星顺利进入预定轨道，发射任务获 得圆满成功。 记者梳理发现，卫星互联网低轨卫星发射节奏明显加快。卫星互联网低轨01组卫星于2024年12月16日发射，今年以来，02组到07组卫星分别于2月11日、4 月29日、6月6日、7月27日、7月30日、8月4日发射。 前不久，我国另一个万颗以上大型低轨星座"千帆星座"的建设与运营商垣信卫星发布招标公告，新增一箭10星载荷标准，意味着运力满足2.8吨的民商火 箭也有望参与"千帆星座"组网建设。 多家上市公司加大投资布局 卫星互联网产业链包含原材料与零部件供应、卫星制造与发射服务、地面设备制造以及卫星运营服务等，在A股公司中覆盖范围广泛。从上市公司公告来 看，多家上市公司看好卫星互联网机遇，真金白银投资扩大业务布局。 | 序号 | 代码 | 名称 | ● | 最新 | 涨幅% T | 涨跌 | | --- ...

Group 1 - The company, Hunan Aerospace Huanyu Communication Technology Co., Ltd., has voluntarily disclosed its performance forecast for the first half of 2025, indicating a significant increase in financial metrics [1] - The expected revenue for the first half of 2025 is approximately 17,925 million yuan, representing a year-on-year increase of about 50.59% [1] - The net profit attributable to the parent company is projected to be around 2,200 million yuan, reflecting a year-on-year increase of approximately 94.90% compared to the same period last year [1] Group 2 - The performance changes are primarily attributed to revenue growth and changes in product sales structure [1] - The previous year's performance for the first half of 2024 included a revenue of 16,770.14 million yuan and earnings per share of 0.0563 yuan [1] - The forecast data is preliminary and subject to confirmation in the official 2025 semi-annual report [2]

[Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts significant profit growth for H1 2025, with net profit attributable to shareholders expected to increase by approximately **50.59%** to **CNY 34.38 million** Key Financial Indicators Forecast for H1 2025 (vs. Prior Year) | Indicator | H1 2025 (Forecast) | H1 2024 (Actual) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | Approx. 3,438 CNY 10,000 | 2,283.21 CNY 10,000 | Approx. 50.59% Growth | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | Approx. 2,216 CNY 10,000 | 1,137.03 CNY 10,000 | Approx. 94.90% Growth | - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance Review](index=1&type=section&id=II.%20Prior%20Period%20Performance%20Review) This section reviews the financial performance of H1 2024, serving as a comparative baseline with operating revenue of **CNY 167.70 million** and net profit of **CNY 22.83 million** H1 2024 Performance Review | Indicator | Amount | | :--- | :--- | | Operating Revenue | 16,770.14 CNY 10,000 | | Net Profit Attributable to Parent Company Shareholders | 2,283.21 CNY 10,000 | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | 1,137.03 CNY 10,000 | | Earnings Per Share | 0.0563 CNY/share | [Analysis of Performance Changes](index=1&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%20Performance%20Changes) The company attributes the significant performance growth primarily to increased operating revenue and favorable shifts in product sales structure - The half-year performance change is primarily influenced by revenue growth and shifts in product sales structure[6](index=6&type=chunk) [Risk Warning and Other Disclosures](index=2&type=section&id=IV.%20Risk%20Warning) The company states no significant uncertainties are found that could affect the forecast's accuracy, advising investors that final data will be based on the official 2025 semi-annual report - The company has not identified any significant uncertainties that could affect the accuracy of this performance forecast[7](index=7&type=chunk) - Investors are reminded that the forecast data is preliminary, and the final financial figures will be based on the company's officially disclosed 2025 semi-annual report, so please be aware of investment risks[8](index=8&type=chunk)

Core Viewpoint - The company expects to achieve a net profit attributable to the parent company of approximately 34.38 million yuan in the first half of 2025, representing an increase of about 11.55 million yuan or approximately 50.59% compared to the same period last year [1] - The expected net profit attributable to the parent company after deducting non-recurring gains and losses is approximately 22.16 million yuan, which is an increase of about 10.79 million yuan or approximately 94.90% year-on-year [1] - The performance change is primarily driven by revenue growth and changes in product sales structure [1] Financial Performance - Expected net profit attributable to the parent company: approximately 34.38 million yuan [1] - Year-on-year increase in net profit: approximately 11.55 million yuan, or 50.59% [1] - Expected net profit after deducting non-recurring gains: approximately 22.16 million yuan [1] - Year-on-year increase in net profit after deductions: approximately 10.79 million yuan, or 94.90% [1] Factors Influencing Performance - Revenue growth [1] - Changes in product sales structure [1]

Investment Rating - The report maintains a positive outlook on the defense and military industry, particularly in light of the current global geopolitical tensions, indicating a favorable investment opportunity in this sector [3][36]. Core Insights - The defense and military sector is expected to benefit from the recovery of demand and the elimination of previous disruptions, with a long-term growth certainty supported by national defense modernization goals set for 2035 and 2050 [5][38]. - The report highlights the increasing importance of drone technology in modern warfare, emphasizing its cost-effectiveness and operational advantages [4][36]. - The low-altitude economy is identified as a burgeoning sector, with significant policy support and commercial opportunities emerging [4][35]. Summary by Sections Market Review - The defense and military index fell by 2.01% last week, ranking 17th among 31 sectors, with a current PE(TTM) of 74.63 times [3][20]. - The sub-sectors show varying PE ratios, with aerospace equipment at 134.59 times and ground weaponry at 148.10 times [20]. Key Recommendations - Focus on companies with strong demand and product depth in the downstream manufacturing sector, such as Hongdu Aviation, AVIC Shenyang Aircraft, and AVIC Xi'an Aircraft [5][40]. - Highlight new technology firms in the military sector, including Lianchuang Optoelectronics and Guangqi Technology [5][40]. - Emphasize underwater equipment companies like Hailanxin and Yaxing Anchor Chain [5][41]. - Recommend missile industry chain companies such as Feilihua and Guokexun [5][42]. - Suggest companies involved in military-grade titanium materials and electronic components, including Western Superconducting and Hongyuan Electronics [5][43][44]. Industry Dynamics - The report notes that geopolitical tensions, particularly in the Middle East, are driving interest in military investments [3][36]. - The low-altitude economy is highlighted as a significant growth area, with various local governments implementing supportive measures to foster development [31][35].

Core Points - The article discusses the verification opinion of Caixin Securities regarding the listing and circulation of strategic placement restricted shares of Hunan Aerospace Huanyu Communication Technology Co., Ltd. [1][4] - The restricted shares amount to 1,829,826 shares, representing 0.4497% of the company's total share capital, and will be available for trading starting June 3, 2025 [2][3] Summary by Sections 1. Type of Restricted Shares - The restricted shares are part of the strategic placement from the company's initial public offering (IPO), with a total of 40,880,000 shares issued, leading to a total share capital of 406,880,000 shares. Among these, 373,041,776 shares are restricted, accounting for 91.6835% of the total, while 33,838,224 shares are unrestricted, making up 8.3165% [1] 2. Changes in Share Capital - Since the formation of the restricted shares from the IPO, there have been no changes in the company's share capital due to profit distribution or capital reserve transfers [2] 3. Commitments Related to Restricted Shares - The shareholder, Shenzhen Huihe Investment Co., Ltd., has committed to a 24-month lock-up period for the restricted shares from the date of the IPO. After the lock-up period, any reduction in shareholding will comply with the regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange [2] 4. Details of Restricted Shares - The total number of restricted shares for this listing is 1,829,826, which will be released for trading on June 3, 2025. The shareholder has adhered to the commitments made during the IPO process [3][4]

Core Viewpoint - The announcement details the upcoming listing and circulation of strategic placement restricted shares for Hunan Aerospace Huanyu Communication Technology Co., Ltd., which will occur on June 3, 2025, after a 24-month lock-up period [1][2]. Summary by Sections 1. Listing Details - The total number of shares to be listed is 1,829,826, representing 0.4497% of the company's total share capital [2][4]. - The shares are part of the strategic placement and have a lock-up period of 24 months from the date of the company's initial public offering [2]. 2. Share Capital Changes - Since the formation of the restricted shares, there have been no changes in the company's share capital due to profit distribution or capital reserve transfers [2]. 3. Shareholder Commitments - The shareholder, Shenzhen Huihe Investment Co., Ltd., has committed to the 24-month lock-up period for the shares acquired through the strategic placement [2][3]. 4. Compliance and Verification - The sponsoring institution has verified that the shareholder has adhered to the commitments made during the IPO process, and the listing of the restricted shares complies with relevant laws and regulations [3]. 5. Listing Circulation Details - The listing date for the restricted shares is confirmed as June 3, 2025 [4].

证券代码：688523 证券简称：航天环宇 公告编号：2025-021 湖南航天环宇通信科技股份有限公司 首次公开发行战略配售限售股上市流通公告 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： 本次股票上市类型为首发战略配售股份（限售期 24 月）；股票认购方式为 网下，上市股数为1,829,826股。本公司确认，上市流通数量等于该限售期的全部战略 配售股份数量。 一、本次上市流通的限售股类型 据中国证券监督管理委员会于 2023 年 3 月 30 日出具的《关于同意湖南航天环宇 通信科技股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕727 号）， 同意公司首次公开发行股票的注册申请，并经上海证券交易所同意，于 2023 年 6 月 2 日在上海证券交易所科创板挂牌上市。公司首次向社会公众公开发行人民币普通股（A 股）股票 40,880,000 股，首次公开发行后总股本为 406,880,000 股，其中有限售条件 流通股 373,041,776 股，占公司总股本的 91.6835%，无限售 ...

财信证券股份有限公司关于 湖南航天环宇通信科技股份有限公司首次公开发行战略配售限售 股上市流通的核查意见 财信证券股份有限公司（以下简称"财信证券"或"保荐机构"）作为湖南 航天环宇通信科技股份有限公司（以下简称"航天环宇"或"公司"）首次公开 发行股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上市规则》等有关规定，对航天环宇首次公开发行 部分战略配售限售股上市流通的事项进行了核查，核查情况如下： 一、本次上市流通的限售股类型 据中国证券监督管理委员会于2023年3月30日出具的《关于同意湖南航天环 宇通信科技股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕727 号），同意公司首次公开发行股票的注册申请，并经上海证券交易所同意，于2023 年6月2日在上海证券交易所科创板挂牌上市。公司首次向社会公众公开发行人民 币普通股（A股）股票40,880,000股，首次公开发行后总股本为406,880,000股，其 中有限售条件流通股373,041,776股，占公司总股本的91.6835%，无限售条件流通 股33,838,224股，占公司总股本的8.316 ...

Core Viewpoint - The report outlines the continuous supervision and compliance of Hunan Aerospace Huanyu Communication Technology Co., Ltd. during its initial public offering and listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, emphasizing the company's adherence to regulations and the absence of major violations during the supervision period [1][3][29]. Continuous Supervision Work - The sponsor has established and effectively implemented a continuous supervision work system, creating specific work plans for ongoing oversight [2]. - A continuous supervision agreement was signed between the sponsor and the company, detailing the rights and obligations of both parties during the supervision period [3]. - Throughout the supervision period, the company did not disclose any violations or breaches of commitments [3][4]. Compliance and Governance - The sponsor has ensured that the company and its management comply with laws, regulations, and the business rules set by the Shanghai Stock Exchange [4]. - The company has established effective internal control systems, including financial management and auditing procedures, ensuring proper operational governance [6]. Financial Performance - In 2024, the company reported operating income of 508.04 million yuan, an increase of 11.36% from 2023 [22]. - The net profit attributable to shareholders decreased by 24.42% to 101.57 million yuan compared to the previous year [22]. - The net cash flow from operating activities increased by 45.93% to 57.29 million yuan [22]. Key Financial Indicators - The basic earnings per share decreased by 27.24% to 0.2508 yuan [22]. - The weighted average return on net assets fell by 4.47 percentage points to 6.19% [22]. - Research and development expenditure accounted for 11.90% of operating income, an increase of 1.35 percentage points from the previous year [22]. Core Competitiveness - The company has developed a comprehensive technical system in aerospace products, satellite communication, and related equipment, enabling it to optimize product processes and maintain quality [24][25]. - The company has a high-level, specialized research and development team, which is crucial for its ongoing development in the aerospace sector [25]. - The company has established a strict production management and quality control system to ensure product reliability and safety, which is critical in the aerospace industry [27]. Industry Context - The aerospace industry is characterized by high technology and significant government support, with policies encouraging its development [26]. - The company faces competition in the aerospace sector, particularly as more social capital enters the industry due to favorable government policies [21]. - The company’s products are subject to strict quality requirements, necessitating compliance with various certifications and audits to enter the aerospace market [28].