Financial Performance - The total profit for the first half of 2025 is CNY 39,298,385.44, a decrease of 66.61% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company is CNY 36,601,412.34, down 64.86% year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is CNY 33,710,077.95, a decline of 61.60% compared to the previous year[18]. - Basic earnings per share for the first half of 2025 is CNY 0.05, a decrease of 61.54% from CNY 0.13 in the same period last year[18]. - The company's operating revenue for the first half of the year was ¥471,940,180.30, a decrease of 20.40% compared to the same period last year[19]. - Total profit for the period was ¥39,298,385.44, down 66.61% year-over-year[19]. - Net profit attributable to shareholders was ¥36,601,412.34, reflecting a decline of 64.86% compared to the previous year[19]. - The net cash flow from operating activities was -¥97,979,836.39, indicating a significant cash outflow[19]. - Earnings per share (EPS) was ¥0.05, a decrease of 61.54% year-over-year, while the diluted EPS also fell by the same percentage[20]. Research and Development - The R&D investment as a percentage of operating income is 15.47%, an increase of 3.2 percentage points from 12.27% in the previous year[18]. - Research and development investment accounted for 15.47% of operating revenue, an increase of 3.2 percentage points year-on-year[35]. - The total R&D investment amounted to ¥73,018,097.68, a slight increase of 0.39% compared to ¥72,734,625.32 in the previous year[59]. - R&D expenses increased by 10.28% to CNY 35.66 million compared to CNY 32.33 million in the previous year[77]. - R&D personnel count was 228, accounting for 17.82% of total employees, up from 17.31% in the previous year[69]. - Total R&D personnel compensation amounted to CNY 23.15 million, an increase from CNY 22.64 million year-on-year[69]. - The company has accumulated over 800 patents and has been recognized with more than 60 awards for technological achievements at various levels[43]. - The company has a cumulative total of 1,515 patent applications, with 841 patents granted[57]. Market and Business Strategy - The company is involved in the development and production of aviation equipment and special refrigeration, with a focus on military and civil applications[25][26]. - The company employs a "make-to-order" procurement model and a "make-to-sell" production model to align with customer demand[27][28]. - The sales strategy includes direct sales for military products and a mix of direct and distributor sales for civil refrigeration products[28][29]. - The company is actively expanding its market in special refrigeration, securing major projects in military emergency medical fields and foreign trade[37]. - The company is focusing on enhancing the success rate of key projects in military aviation and defense, with a structured management mechanism in place[37]. - The company aims to enhance its core competitiveness in the aviation and military refrigeration industry and expand its market share[103]. Financial Position and Cash Flow - The company's total assets at the end of the reporting period were ¥3,610,454,998.75, a slight decrease of 0.24% from the previous year[19]. - The net assets attributable to shareholders decreased by 1.29% to ¥2,463,124,567.15 compared to the end of the previous year[19]. - The company reported a net cash outflow from operating activities of CNY 97.98 million, an improvement from CNY 119.89 million in the previous year[77]. - Cash inflow from operating activities for the first half of 2025 was CNY 348,319,696.15, an increase of 11.2% compared to CNY 313,306,572.15 in the first half of 2024[185]. - The ending cash and cash equivalents balance for the first half of 2025 was CNY 665,539,659.20, down from CNY 791,122,118.95 in the first half of 2024[187]. Corporate Governance and Compliance - The report is unaudited, and the management has confirmed the accuracy and completeness of the financial report[3]. - The company has committed to various promises regarding shareholder and management conduct, with all commitments being fulfilled as of the reporting period[99]. - The company has a long-term commitment to maintain compliance with regulations and commitments made by major shareholders[100]. - The controlling shareholder, AVIC, and shareholders with over 5% stake have committed to long-term holding of the company's stock and will not sell more than the legally permitted amount during the lock-up period[101]. - The company will no longer have a supervisory board as of July 1, 2024, with the audit committee of the board taking over its responsibilities[95]. Risks and Challenges - The company faces risks as outlined in the report, which investors should pay attention to[3]. - The company faces risks related to core competitiveness, operational challenges, and macroeconomic factors impacting military spending[70][72][75]. Shareholder and Capital Management - The company emphasizes shareholder returns and has detailed profit distribution policies in its articles of association, prioritizing cash dividends[103]. - The company commits to a cash dividend policy, prioritizing cash dividends with a minimum of 80% for mature stages without major capital expenditures[127]. - The expected amount for related party transactions in 2025 is RMB 203 million, with actual transactions amounting to RMB 105.82 million[135]. - The company has a positive distributable profit condition for cash dividends, requiring a standard audit report and no major investment plans[127].

律师：程璇、陈蕴 公司本次股东会的召集、召开程序、召集人和出席会议人员的资格及表决程 序符合《公司法》《股东会规则》等法律法规和《公司章程》的规定，表决结果 合法有效。 特此公告。 | 证券代码：688586 | 证券简称：江航装备 公告编号：2025-030 | | --- | --- | | 合肥江航飞机装备股份有限公司 | | | 本公司董事会及全体董事保证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： | | | ? | 本次会议是否有被否决议案：无 | | 一、 | 会议召开和出席情况 | | （一） | 股东会召开的时间：2025 年 8 月 14 日 | | （二） | 35 股东会召开的地点：安徽省合肥市包河工业区延安路 号公司会议室 | | （三） | 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 | | 其持有表决权数量的情况： | | | 普通股股东人数 | 79 | | 普通股股东所持有表决权数量 | 520,374,678 | | 例（%） | | | 普通股股东所持 ...

证券日报网讯 8月14日晚间，江航装备发布公告称，公司2025年第二次临时股东会于2025年8月14日召 开，审议通过了《关于修订公司部分管理制度的议案》等。 （文章来源：证券日报） ...

Group 1 - Jianghang Equipment announced the election of Deng Changquan as the chairman [1]

合肥江航飞机装备股份有限公司 关于董事会换届完成及聘任高级管理人员、证券事务 代表的公告 本公司董事会及全体董事保证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。 合肥江航飞机装备股份有限公司（以下简称"公司"）于 2025 年 8 月 14 日召开 2025 年第二次临时股东会，选举产生了公司第三届董事会五名非独立董 事（不含职工代表董事）和三名独立董事，并与公司一届八次职工代表大会选举 产生的一名职工代表董事共同组成公司第三届董事会。2025 年 8 月 14 日，公司 召开第三届董事会第一次会议，审议选举产生了公司董事长、董事会各专门委员 会委员并聘任新一届高级管理人员及证券事务代表。公司董事会换届选举已经完 成，现就相关情况公告如下： 一、第三届董事会换届选举情况 （一）董事选举情况 2025 年 8 月 14 日，公司召开 2025 年第二次临时股东会，本次股东会采用 累积投票制的方式选举邓长权先生、胡元枧先生、刘文彪先生、钟华先生、昝琼 先生担任第三届董事会非独立董事（不含职工代表董事），选举于增彪先生、许 常悦先生、田多雨先生担任第三届 ...

证券代码：688586 证券简称：江航装备 公告编号：2025-030 合肥江航飞机装备股份有限公司 2025年第二次临时股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 8 月 14 日 （二） 股东会召开的地点：安徽省合肥市包河工业区延安路 35 号公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 79 | | --- | --- | | 普通股股东人数 | 79 | | 2、出席会议的股东所持有的表决权数量 | 520,374,678 | | 普通股股东所持有表决权数量 | 520,374,678 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 65.7587 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 65.7587 | （四） ...

北京市嘉源律师事务所 关于合肥江航飞机装备股份有限公司 2025 年第二次临时股东会的法律意见书 - DH IIA YUAN LAW OFFICES 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 Reline S Pr YUAN LAW OFFICES 嘉源(2025)-04-594 致:合肥江航飞机装备股份有限公司 北京市嘉源律师事务所 关于合肥江航飞机装备股份有限公司 2025 年第二次临时股东会的法律意见书 北京市嘉源律师事务所(以下简称"本所")接受合肥江航飞机装备股份有限 公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")、《上市公司股东会规则》(以下简称"《股东会规则》")等现行有效 的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及《合肥 江航飞机装备股份有限公司章程》(以下简称"《公司章程》")的有关规定,指 派本所律师对公司 2025年第二次临时股东会(以下简称"本次股东会")进行见 证,并依法出具本法律意见书。 为出具本法律意见书,本所指派律师现场见证了本次股东会,查阅了公司提 供的与本次股东会有关的文件和资料,并进行了必 ...

Group 1 - The core viewpoint of the news indicates that Jianghang Equipment (688586) has experienced a decline in stock price and significant net outflow of funds, reflecting potential challenges in its financial performance [1][3] - As of August 11, 2025, Jianghang Equipment's stock closed at 12.74 yuan, down 0.93%, with a trading volume of 162,100 hands and a transaction amount of 208 million yuan [1] - The latest financial report for the first quarter of 2025 shows total revenue of 210 million yuan, a year-on-year decrease of 31.96%, and a net profit attributable to shareholders of 20.02 million yuan, down 67.10% year-on-year [1] Group 2 - The company has a current ratio of 3.314 and a quick ratio of 2.713, indicating a strong liquidity position despite the declining profits [1] - Jianghang Equipment has made investments in five companies and participated in 661 bidding projects, showcasing its active engagement in the industry [2] - The company holds 43 trademark registrations and 300 patents, along with 22 administrative licenses, reflecting its commitment to innovation and compliance [2]

Group 1 - The stock price of Jianghang Equipment (688586) closed at 12.86 yuan, down 1.3% with a turnover rate of 1.87% and a trading volume of 147,700 hands, amounting to 191 million yuan [1] - The latest financial report for Jianghang Equipment shows total revenue of 210 million yuan, a year-on-year decrease of 31.96%, and a net profit attributable to shareholders of 20.02 million yuan, down 67.10% year-on-year [1] - The company has a current ratio of 3.314, a quick ratio of 2.713, and a debt-to-asset ratio of 31.11% [1] Group 2 - Jianghang Equipment has made investments in 5 companies and participated in 661 bidding projects [2] - The company holds 43 trademark registrations and 300 patents, along with 22 administrative licenses [2]

Core Insights - Jianghang Equipment (688586) reported a closing price of 13.01 yuan, down 2.77% as of August 5, 2025, with a turnover rate of 3.3% and a trading volume of 261,100 hands, amounting to 342 million yuan in transaction value [1] Financial Performance - For Q1 2025, the company reported total operating revenue of 210 million yuan, a year-on-year decrease of 31.96% - Net profit attributable to shareholders was 20.02 million yuan, down 67.10% year-on-year - Non-recurring net profit was 19.53 million yuan, a decrease of 63.97% year-on-year - Current ratio stood at 3.314, quick ratio at 2.713, and debt-to-asset ratio at 31.11% [1] Company Background - Jianghang Equipment, established in 2007 and located in Hefei, primarily engages in the aviation transportation industry - The company has a registered capital of 7,913.39 million yuan and a paid-in capital of 4,239.32 million yuan - The legal representative of the company is Deng Changquan [1] Investment and Intellectual Property - The company has made investments in 5 enterprises and participated in 661 bidding projects - It holds 43 trademark registrations and 300 patents, along with 22 administrative licenses [2]