湖南航天环宇通信科技股份有限公司 第一章 总 则 第一条 为规范湖南航天环宇通信科技股份有限公司（以下简称"公司"） 信息披露暂缓、豁免行为，督促公司及相关信息披露义务人（以下简称"信息披 露义务人"）依法合规地履行信息披露义务，根据《中华人民共和国证券法》《上 海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）、《上海证券交 易所科创板上市公司自律监管指引第 1 号——规范运作》（以下简称"《规范运 作指引》"）、《上市公司信息披露暂缓与豁免管理规定》等法律、法规、自律规则 及《湖南航天环宇通信科技股份有限公司章程》（以下简称"《公司章程》"）、《湖 南航天环宇通信科技股份有限公司信息披露管理制度》（以下简称"《信息披露 管理制度》"）等公司制度规定，并结合公司实际情况，制定本制度。 第二条 信息披露义务人按照《上市规则》《规范运作指引》《上市公司信 息披露暂缓与豁免管理规定》及其他相关法律、法规、规范性文件的规定，办理 信息披露暂缓、豁免业务的，适用本制度。 第三条 信息披露义务人应当披露的信息存在《上市规则》《规范运作指 引》《上市公司信息披露暂缓与豁免管理规定》及上海证券交易所其他业务规则 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥96,573,642.82, a decrease of 9.91% compared to the same period last year[3] - Total profit for the quarter was ¥15,834,978.17, down 51.10% year-on-year[3] - Net profit attributable to shareholders was ¥16,776,797.32, a decline of 40.85% compared to the previous year[3] - The basic earnings per share for the quarter was ¥0.0415, a decrease of 40.71% year-on-year[3] - The net profit for the current period is CNY 49,010,456.03, a decrease of 13.6% compared to CNY 56,766,190.28 in the previous period[20] - The company’s total profit decreased to CNY 48,414,593.89 from CNY 54,725,242.95, reflecting a decline of 10.5%[19] - The basic and diluted earnings per share for the current period are both CNY 0.1275, slightly up from CNY 0.1263 in the previous period[21] Research and Development - Research and development expenses totaled ¥17,928,804.88, representing 18.56% of operating revenue, an increase of 4.26 percentage points[4] - Research and development expenses rose to CNY 55,646,230.26, up from CNY 40,647,975.02, marking an increase of 37.0%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,477,568,380.43, an increase of 1.71% from the end of the previous year[4] - Current assets as of September 30, 2025, totaled RMB 1,214,130,129.89, down from RMB 1,319,903,679.95 at the end of 2024, reflecting a decrease of approximately 8%[14] - Cash and cash equivalents decreased to RMB 210,722,470.80 from RMB 226,773,596.88, a decline of about 7.5%[14] - Accounts receivable increased to RMB 445,555,805.43 from RMB 412,783,406.00, representing a growth of approximately 7.9%[14] - Inventory rose to RMB 207,527,521.77, up from RMB 160,105,468.27, indicating an increase of about 29.6%[14] - Total liabilities decreased to RMB 755,397,747.30 from RMB 762,883,231.06, a reduction of approximately 1.1%[16] - Total equity increased to RMB 1,722,170,633.13 from RMB 1,672,976,576.76, reflecting a growth of about 2.9%[16] - Fixed assets increased to RMB 539,112,138.42 from RMB 480,163,352.05, showing an increase of approximately 12.3%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥37,345,882.38, indicating a significant cash outflow[3] - The company reported a net cash outflow from operating activities of CNY -37,345,882.38, an improvement from CNY -63,506,099.49 in the previous year[22] - Cash and cash equivalents at the end of the period totaled CNY 210,722,466.23, compared to CNY 73,751,873.31 at the end of the previous year[22] - Investment activities resulted in a net cash outflow of CNY -21,251,431.57, compared to CNY -6,904,828.12 in the previous year[23] Shareholder Information - The company reported a total of 10,438 ordinary shareholders at the end of the reporting period[11] - Major shareholders include Li Wanxiao with 42.15% ownership and Cui Yanxia with 23.44% ownership[11] Future Outlook - The company reported a net profit margin improvement, with net profit for the first three quarters of 2025 expected to show positive growth compared to the previous year[18] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[18] Operating Costs - The total operating costs increased to CNY 267,401,927.35 from CNY 235,673,804.20, representing an increase of 13.5%[19] - The company’s financial expenses increased significantly, with interest expenses rising to CNY 2,075,471.05 from CNY 586,099.98[19]

湖南航天环宇通信科技股份有限公司 内部审计制度 （一）遵守国家法律、法规、规章及其他相关规定； （二）提高公司经营的效率和效果； （三）保障公司资产的安全； （四）确保公司信息披露的真实、准确、完整和公平。 第四条 公司应当依照国家有关法律、法规、规章制度，结合本公司所处行业 和生产经营实际情况,建立健全内部审计制度，防范和控制公司风险，增强公司信息 披露的可靠性。内部审计制度需经董事会审议通过。 第五条 公司董事会对内部控制制度的建立健全和有效实施负责，重要的内部 控制制度需经董事会审议通过。 公司董事会及其全体成员应当保证内部控制相关信息披露内容的真实、准确、 完整。 第六条 本制度适用于公司及公司全资和控股子公司（以下简称"子公司"）。 第一章 总 则 第一条 为进一步规范湖南航天环宇通信科技股份有限公司（以下简称"公 司"）内部审计工作，提高内部审计工作质量，保护投资者合法权益，依据《审计 署关于内部审计工作的规定》等有关法律、法规、规章和《湖南航天环宇通信科技 股份有限公司章程》（以下简称"《公司章程》"）的规定，制定本制度。 第二条 本制度所称内部审计，是指由公司内部机构或人员，对其内部控制和 风 ...

（三）保障公司资产的安全、完整； （四）确保公司财务报告及相关信息披露的真实、准确、完整和公平。 湖南航天环宇通信科技股份有限公司 内部控制制度 第一章 总 则 第一条 为加强湖南航天环宇通信科技股份有限公司（以下简称"公司"） 的内部控制，促进公司规范运作和健康发展，保护股东合法权益，根据《中华人 民共和国公司法》（以下简称"《公司法》"）《中华人民共和国证券法》（以 下简称"《证券法》"）、《上海证券交易所股票上市规则》等法律、法规，结 合公司实际，制定本制度。 第二条 公司内部控制的目的是： （一）确保公司遵守国家有关法律、法规，合法经营； （二）提高公司经营效率及效果，促进公司实现发展战略； 第三条 公司建立与实施内部控制遵循下列原则： （一）全面性原则：内部控制应贯穿决策、执行和监督全过程，覆盖公司及 其所属单位的各种业务和事项。 （二）重要性原则：内部控制应在全面控制的基础上，关注重要业务事项和 高风险领域。 （三）制衡性原则：内部控制应在治理结构、机构设置及权责分配等方面形 成相互制约、相互监督，同时兼顾运营效率。 （四）审慎性原则：内部控制应坚持公司合法合规经营、防范和化解风险， 促进实现公司 ...

Core Viewpoint - The aerospace equipment sector experienced a 2.67% increase on October 29, with China Satellite leading the gains, while the overall market indices also showed positive performance [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4016.33, up 0.7% - The Shenzhen Component Index closed at 13691.38, up 1.95% [1] Group 2: Individual Stock Performance - China Satellite (600118) closed at 42.50, up 5.64% with a trading volume of 927,800 shares and a turnover of 3.934 billion - Zhongtian Rocket (003009) closed at 56.69, up 4.13% with a trading volume of 117,500 shares and a turnover of 654 million - Xingwang Yuda (002829) closed at 27.94, up 3.25% with a trading volume of 217,700 shares and a turnover of 607 million - Zhongyuan Wantong (601698) closed at 22.31, up 2.01% with a trading volume of 694,300 shares and a turnover of 1.552 billion - Ligong Navigation (688282) closed at 59.89, up 1.59% with a trading volume of 13,100 shares and a turnover of 78.0448 million - Aerospace Electronics (600879) closed at 11.82, up 0.94% with a trading volume of 779,900 shares and a turnover of 924 million - Aerospace Huaiyu (688523) closed at 25.82, up 0.70% with a trading volume of 101,400 shares and a turnover of 26.1 million - Xinhui Guoke (300722) closed at 32.74, up 0.68% with a trading volume of 92,800 shares and a turnover of 302 million [1] Group 3: Fund Flow Analysis - The aerospace equipment sector saw a net outflow of 17.0682 million from institutional investors and a net outflow of 78.4159 million from retail investors, while there was a net inflow of 95.4841 million from individual investors [1] - China Satellite (601698) had a net outflow of 1.90 million from institutional investors, with retail investors contributing a net inflow of 2.48 million [2] - Zhongtian Rocket (003009) experienced a net inflow of 31.6454 million from institutional investors, while retail investors had a net outflow of 2.77732 million [2]

Core Insights - The aerospace equipment sector experienced a slight increase of 0.21% on October 28, with LIGONG Navigation leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - LIGONG Navigation (688282) closed at 58.95, up 4.15% with a trading volume of 19,700 lots and a transaction value of 114 million [1] - Aerospace Huayu (688523) closed at 25.64, up 3.64% with a trading volume of 162,900 lots and a transaction value of 421 million [1] - Xinyu Guoke (300722) closed at 32.52, up 2.81% with a trading volume of 128,800 lots and a transaction value of 420 million [1] - StarNet Yuda (002829) closed at 27.06, up 1.16% with a trading volume of 222,400 lots and a transaction value of 605 million [1] - China Satellite (600118) closed at 40.23, down 0.42% with a trading volume of 767,100 lots and a transaction value of 3.112 billion [1] Capital Flow - The aerospace equipment sector saw a net outflow of 232 million from institutional investors and 49.48 million from retail investors, while retail investors had a net inflow of 282 million [1] - New Yuguoke (300722) had a net inflow of 29.54 million from institutional investors, while retail investors experienced a net outflow of 49.00 million [2] - LIGONG Navigation (688282) had a net inflow of 15.49 million from institutional investors, with a net outflow of 17.36 million from retail investors [2] - China Satellite (600118) had a significant net inflow of 211 million from retail investors despite a net outflow of 18.30 million from institutional investors [2]

Group 1 - The core point of the news is that Aerospace Universe has seen a stock price increase of 5.09%, reaching 26.00 CNY per share, with a trading volume of 1.03 billion CNY and a turnover rate of 4.21%, resulting in a total market capitalization of 10.579 billion CNY [1] - Aerospace Universe, established on March 10, 2000, is located in Changsha, Hunan Province, and was listed on June 2, 2023. The company specializes in the research, maintenance, and service of metal and composite material component forming process equipment, assembly frames, automated production lines for composite parts, and non-standard equipment [1] - The main business revenue composition of Aerospace Universe includes aerospace and communication products at 46.62%, aviation products at 27.72%, aerospace process equipment at 25.60%, and other supplementary products at 0.06% [1] Group 2 - From the perspective of fund holdings, one fund under Nord Fund has a significant position in Aerospace Universe. The Nord Quantitative Core A (006267) held 78,000 shares in the second quarter, accounting for 1.37% of the fund's net value, making it the largest holding [2] - The Nord Quantitative Core A (006267) was established on November 22, 2018, with a latest scale of 88.6157 million CNY. The fund has achieved a return of 35.29% year-to-date, ranking 2548 out of 8155 in its category, and a return of 43.46% over the past year, ranking 1448 out of 8029 [2]

Group 1 - The core point of the news is that Aerospace Universe has seen a stock price increase of 5.09%, reaching 26.00 CNY per share, with a total market capitalization of 10.579 billion CNY [1] - Aerospace Universe, established on March 10, 2000, specializes in the development, maintenance, and service of metal and composite material component forming process equipment, assembly frames, automated production lines for composite parts, and non-standard equipment [1] - The company's main business revenue composition includes aerospace and communication products at 46.62%, aviation products at 27.72%, aerospace process equipment at 25.60%, and other supplementary products at 0.06% [1] Group 2 - From the perspective of fund holdings, one fund under Huiquan has a significant position in Aerospace Universe, with 3,600 shares held, accounting for 0.43% of the fund's net value, ranking as the seventh largest holding [2] - Huiquan Qiyuan Future Mixed Fund A (014827) has achieved a year-to-date return of 39.42%, ranking 2085 out of 8155 in its category, and a one-year return of 34.24%, ranking 2288 out of 8029 [2] - The fund manager, Shen Xin, has been in position for 1 year and 224 days, with the fund's total asset size at 1 billion CNY and the best return during his tenure being 51.68% [3]

Core Insights - The aerospace equipment sector experienced a 1.44% increase on October 27, with Zhongtian Rocket leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Sector Performance - Zhongtian Rocket (003009) closed at 54.92, up 4.23% with a trading volume of 148,300 shares and a transaction value of 800 million [1] - China Satellite (600118) closed at 40.40, up 3.27% with a trading volume of 1,251,600 shares and a transaction value of 503.5 million [1] - Aerospace Electronics (600879) closed at 11.72, up 1.82% with a trading volume of 1,030,800 shares and a transaction value of 1.201 billion [1] - Other notable performances include China (601698) at 21.83, up 0.55%, and XWUD (002829) at 26.75, down 0.34% [1] Capital Flow - The aerospace equipment sector saw a net outflow of 546 million from institutional investors, while retail investors contributed a net inflow of 440 million [1] - The detailed capital flow for individual stocks shows that Zhongtian Rocket had a net outflow of 4.5231 million from institutional investors but a net inflow of 48.4148 million from retail investors [2] - Other stocks like Newyu Guoke (300722) and Aerospace Electronics (600879) also experienced varying levels of net inflow and outflow from different investor categories [2]

Core Insights - The recent announcement from the 20th Central Committee of the Communist Party of China emphasizes the goal of establishing China as a "space power," marking a significant elevation of the aerospace industry to a strategic level [1][4] - Following this announcement, the commercial aerospace sector experienced a positive market reaction, with several stocks reaching their daily limit [1][2] Policy and Market Outlook - The commercial aerospace sector is expected to undergo a new round of valuation reconstruction as the "14th Five-Year Plan" approaches, driven by supportive policies [3] - Local governments are integrating aerospace and commercial aerospace into their long-term development plans, with initiatives in cities like Shanghai and Hainan aiming for substantial industry growth by 2025 [4][5] Industry Growth and Development - The Chinese commercial aerospace industry is transitioning from an exploratory phase to a growth phase, with increasing policy support and resource allocation [5][6] - The market potential for commercial aerospace in China is projected to reach a trillion-level scale, influenced by successful models like SpaceX [6][8] Technological Advancements - Recent data indicates a surge in satellite launches, with China completing 68 orbital launches in 2024, reflecting a rapid pace in satellite constellation deployment [8] - The industry is facing a "more satellites than rockets" supply-demand situation, prompting efforts to enhance launch capacity and efficiency [9] Capital Market Activity - The capital market remains active, with several companies in the commercial aerospace sector completing new rounds of financing and initiating IPO preparations [12][13] - The ongoing IPO wave among commercial aerospace companies signifies a critical transition from technology validation to commercial operations, necessitating significant capital investment [13]