Core Viewpoint - The company Zhongke Xingtou (688568.SH) is accelerating its development in the low-altitude economy, planning to raise up to 2.488 billion yuan through a private placement to fund key projects and enhance its liquidity in the aerospace information sector [2][3]. Financial Performance - From 2022 to 2024, the company's revenue is projected to grow from 1.577 billion yuan to 3.257 billion yuan, with net profit increasing from 243 million yuan to 352 million yuan [2][6]. - In Q1 2025, Zhongke Xingtou reported a revenue of 504 million yuan, a year-on-year increase of 20.48%, and a net profit of 20.78 million yuan, a significant increase of 971% [6]. Fundraising and Project Allocation - The planned fundraising of 2.488 billion yuan will allocate 1.75 billion yuan (70.33% of total funds) to three major projects, including the "Xingtu Cloud Aerospace Information Cloud Platform" [3][5]. - The "Xingtu Cloud Aerospace Information Cloud Platform" will receive 751 million yuan, while the "Xingtu Low Altitude Cloud Digital Service Platform" will get 650 million yuan, and the "Xingtu Loshu Defense and Public Safety Big Data Intelligent Analysis Platform" will receive 349 million yuan [4][5]. Research and Development - The company has committed to significant R&D investments, totaling 1.315 billion yuan from 2020 to 2024, with annual R&D expenses increasing each year [6][7]. - By the end of 2024, Zhongke Xingtou had acquired 756 new intellectual property rights, including 78 invention patents and 634 software copyrights [7][8]. Strategic Initiatives - Zhongke Xingtou has established a "1+2+N+M" low-altitude strategy, which includes building a "Xingtu Low Altitude Cloud," two low-altitude test sites, and developing multiple regional demonstrations and industry scenarios [2][8]. - The company aims to enhance its service offerings for government, enterprises, and research institutions through the construction of various digital platforms [4][5]. Market Context - The commercial aerospace market in China has seen significant growth, with the market size increasing from 600 billion yuan in 2018 to 1.9 trillion yuan in 2023, and projected to exceed 2.3 trillion yuan in 2024 [3].

Group 1 - The core viewpoint of the article highlights that Zhongke Xingtou Co., Ltd. has obtained a patent for a method and device related to "Beidou grid spatial indexing and retrieval based on database B-tree indexing" [1] - The patent was granted with the announcement number CN114048203B, and the application date was September 2021 [1] - Zhongke Xingtou Co., Ltd. was established in 2006 and is located in Beijing, primarily engaged in software and information technology services [1] Group 2 - The registered capital of Zhongke Xingtou Co., Ltd. is 543.32593 million RMB [1] - The company has invested in 23 enterprises and participated in 405 bidding projects [1] - The company holds 173 trademark information and 243 patent information, along with 10 administrative licenses [1]

证券代码：688568.SH 证券简称：中科星图 公告编号：2025-057 中科星图股份有限公司 关于完成回购股份注销暨股份变动公告 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。 一、回购审批情况和回购方案内容 中科星图股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日召开第三届董事 会第四次会议、第三届监事会第四次会议，于 2025 年 5 月 7 日召开 2025 年第一次临时 股东大会，审议通过《关于以集中竞价交易方式回购公司股份方案的议案》。公司拟使 用首次公开发行股票取得的超募资金和公司自有资金以集中竞价交易方式回购公司已 发行的人民币普通股（A 股）股票，本次回购的股份拟用于注销并减少公司注册资本， 本次回购的资金总额不低于人民币 4,000 万元（含）且不超过人民币 6,000 万元（含）， 回购价格不超过人民币 84.39 元/股（含），回购期限为自公司股东大会审议通过本次回 购方案之日起不超过 12 个月。具体内容详见公司分别于 2025 年 4 月 15 日、2025 年 5 月 8 日 ...

证券代码：688568.SH 证券简称：中科星图 公告编号：2025-057 中科星图股份有限公司 关于完成回购股份注销暨股份变动公告 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。 一、回购审批情况和回购方案内容 中科星图股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日召开第三届董事 会第四次会议、第三届监事会第四次会议，于 2025 年 5 月 7 日召开 2025 年第一次临时 股东大会，审议通过《关于以集中竞价交易方式回购公司股份方案的议案》。公司拟使 用首次公开发行股票取得的超募资金和公司自有资金以集中竞价交易方式回购公司已 发行的人民币普通股（A 股）股票，本次回购的股份拟用于注销并减少公司注册资本， 本次回购的资金总额不低于人民币 4,000 万元（含）且不超过人民币 6,000 万元（含）， 回购价格不超过人民币 84.39 元/股（含），回购期限为自公司股东大会审议通过本次回 购方案之日起不超过 12 个月。具体内容详见公司分别于 2025 年 4 月 15 日、2025 年 5 月 8 日 ...

Core Viewpoint - The company has completed a share buyback and cancellation process, reducing its total share capital from 810 million shares to 808 million shares through the repurchase of 1.4767 million shares, which represents 0.1824% of the total shares before cancellation [1] Group 1 - As of August 20, 2025, the company repurchased a total of 1.4767 million shares through a dedicated securities account via centralized bidding [1] - The repurchased shares accounted for 0.1824% of the company's total share capital prior to cancellation, which was 810 million shares [1] - The cancellation of the repurchased shares was completed on August 22, 2025, with the total share capital adjusted to 808 million shares [1]

Group 1 - The company will hold a half-year performance briefing on August 29, 2025, from 10:00 to 11:30 AM [2][4] - The meeting will take place both on-site in Beijing and online via the Shanghai Stock Exchange Roadshow Center [2][4] - Investors can submit questions for the briefing from August 22 to August 28, 2025, and the company will address common concerns during the meeting [2][5] Group 2 - The company has completed a share repurchase plan approved in April and May 2025, using funds from its initial public offering and its own resources [9][12] - A total of 1,476,724 shares were repurchased, representing 0.1824% of the company's total share capital, with an average repurchase price of 33.83 RMB per share [11][15] - The repurchased shares will be canceled, leading to a reduction in the company's registered capital, with the cancellation application to be submitted on August 22, 2025 [14][15]

Core Viewpoint - The company has completed its share repurchase plan, indicating a strategic move to enhance shareholder value and potentially signal confidence in its future performance [2] Group 1: Share Repurchase Details - The company announced that it has repurchased a total of 1,476,724 shares through a centralized bidding trading method [2] - The repurchased shares represent approximately 0.1824% of the company's total share capital, which stands at 809,555,636 shares [2]

Core Insights - Zhongke Xingtou (SH 688568, closing price: 39.33 yuan) announced on August 21 that its third board meeting will be held via communication on August 21, 2025, to review the revised report on the plan for issuing A-shares to specific targets for the year 2025 [2] Revenue Composition - For the year 2024, Zhongke Xingtou's revenue composition is as follows: Special fields account for 30.79%, Municipal projects account for 29.35%, Meteorological and marine services account for 17.27%, Aerospace measurement and control account for 8.85%, and Corporate energy accounts for 7.85% [2]

Meeting Overview - The third meeting of the board of directors of Zhongke Xingtou Co., Ltd. was held via email, with all 11 directors present and agreeing to waive the notice period for the meeting [1][2] Board Resolutions Approval of A-Share Issuance - The board approved the proposal for the company to issue A-shares to specific targets, confirming that the company meets the necessary qualifications and conditions for this issuance according to relevant laws and regulations [1][2] Adjustment of Fundraising Amount - The total amount for the A-share issuance was adjusted from RMB 250 million to RMB 248.84682 million, with the net proceeds intended for specific projects [2][3] - The total investment for the projects is RMB 254.87211 million, with the adjusted fundraising amount allocated as follows: - Low-altitude cloud supervision and flight service digital infrastructure project - Defense and public safety big data intelligent analysis platform project [2] Approval of Revised Issuance Plans - The board approved the revised proposal for the A-share issuance and the feasibility analysis report, which were adjusted based on the new fundraising amount [4][5][6] Technology Innovation Focus - The board confirmed that the fundraising will be directed towards technology innovation fields, as outlined in the revised documentation [6][7] Dilution of Immediate Returns - The board approved a report addressing the dilution of immediate returns from the A-share issuance and the measures the company will take to mitigate this impact [7][8]

Core Viewpoint - The company has convened its third supervisory board meeting to approve various proposals related to the issuance of A-shares to specific investors, including adjustments to the fundraising amount and the associated plans [1][2][3]. Meeting Details - The meeting was held on August 21, 2025, via electronic communication, with all three supervisors present, and the procedures complied with relevant laws and regulations [1]. - The meeting's resolutions were deemed legal and effective [1]. Resolutions Passed - The supervisory board approved the proposal confirming the company's eligibility to issue A-shares to specific investors, affirming compliance with the relevant laws and regulations [2]. - The total amount of funds to be raised through the issuance was adjusted from RMB 250,000.00 million to RMB 248,846.82 million, with the net proceeds intended for specific projects [2]. - The board also approved the revised proposal for the issuance of A-shares, reflecting the adjustments made to the fundraising amount [3][4]. - A revised feasibility analysis report regarding the use of the raised funds was also approved [5]. - The board confirmed that the fundraising will be directed towards technology innovation projects [5]. - The board approved a report on the dilution of immediate returns from the issuance and the measures to mitigate this dilution [6].