Core Viewpoint - The announcement details the shareholding and reduction of shares by the board members and senior management of Chengdu Zhimingda Electronics Co., Ltd, indicating a planned reduction in their holdings and compliance with relevant regulations [1][5]. Shareholding Situation - As of the announcement date, the shareholding details of the board and senior management are as follows: - Chairman Jiang Hu directly holds 81,872 shares, accounting for 0.0471% of the total share capital [2]. - General Manager Long Bo directly holds 76,039 shares, accounting for 0.0437% of the total share capital [3]. - Deputy General Manager Wan Chonggang directly holds 19,128 shares, accounting for 0.0110% of the total share capital [4]. - The total shares held by the aforementioned individuals amount to 177,039 shares, representing 0.1018% of the total share capital, sourced from the company's equity incentive plan [4]. Reduction Implementation Results - As of the announcement date, the reduction results are as follows: - Chairman Jiang Hu reduced his holdings by 27,290 shares, representing 0.0157% of the total share capital [5]. - General Manager Long Bo reduced his holdings by 25,300 shares, representing 0.0145% of the total share capital [5]. - Deputy General Manager Wan Chonggang reduced his holdings by 6,376 shares, representing 0.0037% of the total share capital [5]. - The company completed the registration and custody procedures for an additional 6,278,999 shares issued to specific targets, increasing the total share capital to 173,906,404 shares [5]. Compliance and Plan Execution - The reduction plan was executed in accordance with relevant laws and regulations, and the actual reduction was consistent with the previously disclosed plan [6]. - The reduction was completed within the specified time frame, and there were no violations of the reduction plan or other commitments [7].

Group 1 - The company Zhimin Da responded to investor inquiries on January 6, indicating that details regarding order-related situations should be monitored in regular reports [2]

Group 1 - The company Zhimin Da announced that as of the disclosure date, several executives have reduced their shareholdings through centralized bidding, with Chairman Jiang Hu reducing approximately 27,300 shares, accounting for 0.0157% of the total share capital [1] - General Manager Long Bo reduced approximately 25,300 shares, representing 0.0145% of the total share capital [1] - Deputy General Manager Wan Chonggang reduced 6,376 shares, which is 0.0037% of the total share capital [1] Group 2 - The automotive market is experiencing a surge in sales, with reports indicating that the original guide price for BMW vehicles was 349,900 yuan, while the actual price is now 225,000 yuan, alongside various car manufacturers offering subsidies for purchase taxes [1] - The sales activity in the automotive sector is described as busy from morning until night, indicating a strong demand in the market as the year 2026 begins [1]

证券代码：688636 证券简称：智明达 公告编号：2026-001 成都智明达电子股份有限公司 董事及高级管理人员减持股份结果公告 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： 董事及高级管理人员持股的基本情况 截止本公告披露日，成都智明达电子股份有限公司（以下简称"公司"）董 事及高级管理人员持股情况如下： 上述股份来源为公司股权激励计划获授（含资本公积转增股份），合计 177,039 股，占公司总股本比例为 0.1018%。 减持计划的实施结果情况 截止本公告披露日，董事、联席董事长江虎先生通过集中竞价方式合计减持 公司股份数量 27,290 股，占公司总股本的比例为 0.0157%；董事、总经理龙波 先生通过集中竞价方式合计减持公司股份数量 25,300 股，占公司总股本的比例 为 0.0145%；副总经理万崇刚先生通过集中竞价方式合计减持公司股份数量 6,376 股，占公司总股本的比例为 0.0037%。 股东名称 龙波 股东身份 控股股东、实控人及一致行动人 □是√否 直接持股 5 ...

Group 1 - The core viewpoint of the news is that Zhimin Da has shown significant growth in revenue and profit, indicating strong business performance in the defense electronics sector [2][3]. - As of January 6, Zhimin Da's stock price increased by 2.01% to 42.73 CNY per share, with a total market capitalization of 7.431 billion CNY [1]. - The company has experienced a year-to-date stock price decline of 0.26%, but over the last 20 days, the stock has risen by 17.68% [1]. Group 2 - For the period from January to September 2025, Zhimin Da achieved operating revenue of 512 million CNY, representing a year-on-year growth of 145.16% [2]. - The net profit attributable to shareholders for the same period was 81.9871 million CNY, showing a remarkable increase of 995.37% year-on-year [2]. - The company has distributed a total of 52.5689 million CNY in dividends since its A-share listing, with 31.7847 million CNY distributed over the past three years [3]. Group 3 - As of September 30, 2025, the number of Zhimin Da's shareholders increased to 9,837, up by 85.39% from the previous period [2]. - The top ten circulating shareholders include various funds, with notable new entries such as Guangfa Technology Power Stock and Changxin Jinli Trend Mixed A [3]. - The company's main business involves providing customized embedded computer modules and solutions primarily for military clients, with a revenue composition heavily weighted towards airborne embedded computers at 67.72% [1].

Core Viewpoint - The company, Zhimingda, primarily focuses on providing embedded computer modules for satellite and ground station equipment, indicating a strong presence in the commercial aerospace sector [2] Group 1: Business Overview - Zhimingda and Xingwang are engaged in the development of embedded computer modules for satellite and ground station equipment [2] - The router board and supporting equipment are utilized in satellite systems for data exchange and management, offering high-performance and high-reliability routing storage platforms [2] - The protocol stack testing baseband equipment is designed for satellite ground station mobile devices, facilitating communication and data exchange between satellite data and ground terminals [2] Group 2: Revenue Insights - The company indicates that the revenue contribution from these business segments can be found in its periodic reports, suggesting a focus on transparency regarding financial performance [2]

Core Viewpoint - The company has secured a contract for a navigation device related to a reusable first-stage rocket's control system, with delivery expected in the first half of 2026 [1] Group 1: Project Details - The project involves the development of a control system for rockets, including engine control [1] - The specific contract price for the project cannot be disclosed [1] - The product is currently in the development stage [1]

Investment Rating - The industry investment rating is "Positive" [5] Core Insights - The Shanghai Stock Exchange has officially released guidelines for commercial rocket companies to apply for the fifth set of listing standards on the Sci-Tech Innovation Board, which supports high-quality commercial rocket enterprises that have not yet formed a certain revenue scale to go public [2][7] - The commercial rocket industry is expected to experience rapid growth due to continuous policy support, accelerated technological iteration, and the release of rocket production capacity, leading to a significant increase in the number of rockets and launch frequency in China [3][7] Summary by Relevant Sections Industry Overview - The guidelines emphasize that companies must have key core technologies and significant technological advantages or breakthroughs, focusing on the self-research capabilities of core components and key indicators such as payload capacity and multi-satellite launch capabilities [7] - The guidelines also require that commercial rocket companies achieve a milestone of successfully launching a medium to large reusable rocket payload into orbit [7] Market Dynamics - The commercial rocket sector is currently a bottleneck in the commercial aerospace industry, and with the release of production capacity, improvement in launch capabilities, and breakthroughs in reusable technology, the progress of satellite networking is expected to experience a leap forward [7] - The report identifies that the future of China's rocket sector will see a threefold resonance of capacity release, enhanced launch capabilities, and breakthroughs in reusable technology, which will accelerate the resolution of launch bottlenecks [7] Investment Targets - Recommended investment targets in the satellite sector include Aerospace Electronics (600879, Buy), Zhenlei Technology (688270, Not Rated), and others [7] - Recommended investment targets in the rocket sector include Aerospace Power (600343, Not Rated), Zhonghang Heavy Industry (600765, Buy), and others [7]

Group 1 - The refinancing market in the Shanghai Stock Exchange has shown significant growth in 2025, with over 800 billion yuan raised through equity financing, involving more than 100 companies, marking a substantial increase compared to the same period in 2024 [1][2] - The approval process for refinancing projects has accelerated, with nearly 40 new projects approved in the fourth quarter of 2025, reducing the average review period to around 2 months [1][2] - The Shanghai Stock Exchange has emphasized an open approach to review and regulation, enhancing proactive communication and feedback during the approval process, which has contributed to the rapid growth of refinancing activities [2] Group 2 - In 2025, the Shanghai Stock Exchange's main board raised a total of 715 billion yuan through targeted placements, while the Sci-Tech Innovation Board raised 55.65 billion yuan, both showing significant year-on-year growth [2] - The issuance of convertible bonds also saw substantial fundraising, with the main board raising 29.59 billion yuan and the Sci-Tech Innovation Board raising 8.76 billion yuan [2] - The regulatory support has been crucial for this growth, with specific projects like Xianghe Industrial and Haitai Co. completing their approvals in under 50 days [2] Group 3 - Companies like Cambrian Technology raised over 3.9 billion yuan for projects related to AI chips and software platforms, aligning with national strategic needs and enhancing their competitive edge [3] - Microchip Biotech's fundraising efforts are aimed at accelerating drug development and enhancing product pipelines, reflecting a focus on innovation and strategic alignment [3] Group 4 - The simplified procedures for refinancing have significantly improved efficiency, allowing companies to raise funds quickly, especially for amounts not exceeding 300 million yuan or 20% of net assets [4][5] - The first project under the simplified procedure on the Sci-Tech Innovation Board raised over 200 million yuan for R&D and operational needs, demonstrating the effectiveness of this new approach [4][5] Group 5 - Since the implementation of the "light asset, high R&D investment" standard, 14 companies have submitted refinancing applications totaling 35.12 billion yuan, indicating a positive market response [6] - Companies across various sectors, including new-generation information technology and biomedicine, are leveraging this standard to enhance their R&D capabilities and competitiveness [6][7] Group 6 - The introduction of the "light asset, high R&D investment" standard allows companies to allocate more resources to R&D, fostering innovation and product upgrades [7] - This standard has been particularly beneficial for high-tech companies, enabling them to secure necessary funding for ongoing projects in emerging fields like commercial aerospace and unmanned equipment [7]

Group 1 - The core viewpoint of the news is that Zhimin Da's stock price increased by 5.05% to 40.15 CNY per share, with a trading volume of 164 million CNY and a turnover rate of 2.50%, resulting in a total market capitalization of 6.982 billion CNY [1] - Chengdu Zhimin Da Electronics Co., Ltd. specializes in providing customized embedded computer modules and solutions for military clients, with its main business revenue composition being: airborne embedded computers 67.72%, others 20.83%, commercial aerospace embedded computers 6.14%, missile-borne embedded computers 3.22%, and unmanned equipment 2.09% [1] Group 2 - Longxin Fund's Longxin Jinli Trend Mixed A (519994) has entered the top ten circulating shareholders of Zhimin Da, holding 1.55 million shares, which accounts for 0.92% of circulating shares, with an estimated floating profit of approximately 2.9916 million CNY [2] - Longxin Jinli Trend Mixed A (519994) has a total scale of 4.03 billion CNY and has achieved a return of 37.7% this year, ranking 2088 out of 8088 in its category [2] Group 3 - Longxin Fund's Longxin Ruijin Mixed A (519957) has reduced its holdings in Zhimin Da by 72,400 shares, now holding 276,000 shares, which represents 3.22% of the fund's net value, with an estimated floating profit of about 532,700 CNY [4] - Longxin Ruijin Mixed A (519957) has a total scale of 1.1767 billion CNY and has achieved a return of 30.9% this year, ranking 2848 out of 8088 in its category [4]