Group 1 - The company reported a revenue of 619 million yuan for the first three quarters of 2025, representing a year-on-year growth of 5.21% [1] - The net profit attributable to the parent company was 249 million yuan, showing a year-on-year decline of 22.39% [1] - The non-recurring net profit was 222 million yuan, which reflects a year-on-year decrease of 27.56% [1] - The basic earnings per share stood at 0.62 yuan [1]

Group 1 - The core viewpoint of the article highlights the financial performance of Jiachi Technology for the third quarter of 2023, indicating a revenue increase but a significant decline in net profit [1] - Jiachi Technology reported revenue of approximately 619 million yuan for the first three quarters of 2025, representing a year-on-year increase of 5.21% [1] - The net profit attributable to shareholders of the listed company was approximately 249 million yuan, showing a year-on-year decrease of 22.39% [1] Group 2 - As of the report, Jiachi Technology has a market capitalization of 30.3 billion yuan [1]

Revenue and Profit - The company's revenue for Q3 2025 reached CNY 340,791,038, representing a year-on-year increase of 54.53%[4] - For the first nine months of 2025, the total revenue was CNY 619,434,085, reflecting a growth of 5.21% compared to the same period in 2024[4] - The total profit for Q3 2025 was CNY 151,753,318, an increase of 21.84% year-on-year, while the net profit attributable to shareholders was CNY 135,419,897, up 24.38%[4] - Total operating revenue for the first three quarters of 2025 reached ¥619,434,085.10, an increase of 5.7% compared to ¥588,761,283.37 in the same period of 2024[23] - Net profit for the first three quarters of 2025 was ¥247,255,353.36, a decrease of 22.8% from ¥320,332,488.16 in the previous year[24] Research and Development - Research and development expenses for the first nine months of 2025 amounted to CNY 137,960,000, a significant increase of 107.22% compared to the same period in 2024[5] - The R&D expenses accounted for 15.75% of the total revenue in Q3 2025, compared to 20.12% for the same period last year[5] - Research and development expenses surged to ¥124,648,302.60, representing a 107.5% increase compared to ¥60,152,754.69 in the same period last year[23] Cash Flow and Financial Position - The company reported a decrease in cash flow from operating activities by 46.59% year-to-date, totaling CNY 167,055,304[4] - The company's cash and cash equivalents as of September 30, 2025, amount to ¥254,792,102.29, a decrease from ¥1,927,378,714.53 as of December 31, 2024[18] - The net cash flow from operating activities was $167,055,304.25, a decrease of 46.5% compared to $312,768,446.28 in the previous period[28] - The total cash inflow from operating activities was $603,803,325.53, while total cash outflow was $436,748,021.28, leading to a positive cash flow from operations[28] - The company experienced a net decrease in cash and cash equivalents of $1,668,710,349.57 during the reporting period[29] Assets and Liabilities - The total assets at the end of Q3 2025 were CNY 3,799,223,541, a 4.11% increase from the end of the previous year[5] - Total liabilities increased to ¥494,499,305.77, compared to ¥439,269,236.89 in the previous year, reflecting a growth of 12.6%[21] - Total equity attributable to shareholders rose to ¥3,306,090,738.39, up from ¥3,209,912,761.27, marking an increase of 3.0%[21] - Total assets as of September 30, 2025, are ¥3,799,223,541.22, compared to ¥3,649,181,998.16 at the end of 2024[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,446[13] - The largest shareholder, Deng Longjiang, holds 80,550,000 shares, representing 20.14% of total shares[13] - There are no significant changes in the top 10 shareholders or their shareholding status due to margin trading or securities lending[15] Inventory and Accounts Receivable - Accounts receivable increased to ¥1,060,597,498.13 from ¥900,093,908.62 year-over-year[18] - Inventory has increased to ¥250,270,283.43 from ¥114,704,958.30 year-over-year[19] Financial Expenses and Cash Flow Activities - The company reported a financial expense of -¥5,583,251.02, an improvement compared to -¥6,592,860.42 in the previous year[23] - Cash received from sales of goods and services was ¥585,645,034.64, a decrease from ¥610,091,412.37 in the same period of 2024[27] - The company paid $160,004,000.00 in dividends and interest during the financing activities[29] - The cash outflow for purchasing fixed assets and other long-term assets was $83,509,680.71[28] - The company reported a significant increase in cash paid for goods and services, totaling $259,406,623.47, compared to $117,074,578.92 in the previous period[28] - The cash paid to employees increased to $85,486,142.79 from $69,425,588.90[28]

格隆汇10月27日丨佳驰科技(688708.SH)公布，公司第三季度实现营业收入3.41亿元，同比增长 54.53%；归属于上市公司股东的净利润1.35亿元，同比增长24.38%；归属于上市公司股东的扣除非经常 性损益的净利润1.24亿元，同比增长15.84%；基本每股收益0.34元。 ...

格隆汇10月27日丨佳驰科技(688708.SH)公布，公司第三季度实现营业收入3.41亿元，同比增长 54.53%；归属于上市公司股东的净利润1.35亿元，同比增长24.38%；归属于上市公司股东的扣除非经常 性损益的净利润1.24亿元，同比增长15.84%；基本每股收益0.34元。 ...

Core Insights - On October 24, Jiachi Technology's stock rose by 3.95%, with a trading volume of 91.74 million yuan [1] - The company experienced a net financing outflow of 627.25 thousand yuan on the same day, with a total financing balance of 113 million yuan, accounting for 3.97% of its market capitalization [1] Company Overview - Chengdu Jiachi Electronic Technology Co., Ltd. was established on July 18, 2008, and is located in the Chengdu Modern Industrial Port [2] - The company focuses on the EMMS industry, emphasizing independent innovation and breaking foreign technology monopolies, covering stealth functional coating materials, stealth functional structural components, and electromagnetic compatibility materials [2] - The revenue composition includes 71.46% from electromagnetic functional structural components, 25.71% from electromagnetic functional coating materials, 2.58% from electromagnetic compatibility materials, and 0.24% from technical services [2] Financial Performance - For the first half of 2025, Jiachi Technology reported a revenue of 279 million yuan, a year-on-year decrease of 24.33%, and a net profit attributable to shareholders of 113 million yuan, down 46.47% year-on-year [2] - The company has distributed a total of 160 million yuan in dividends since its A-share listing [3] Shareholder Structure - As of June 30, 2025, Jiachi Technology had 9,193 shareholders, a decrease of 29.96% from the previous period, with an average of 4,178 circulating shares per shareholder, an increase of 53.56% [2] - The top three circulating shareholders include new entrants: Fu Guo Balanced Preferred Mixed Fund, holding 1.0679 million shares; Jia Shi Competitive Advantage Preferred Mixed Fund, holding 1.0574 million shares; and Fu Guo Growth Navigation Mixed Fund, holding 1.0436 million shares [3]

Investment Rating - The report provides a strong recommendation for several companies in the military industry, indicating a positive outlook for their stock performance [9]. Core Insights - The recent Fourth Plenary Session of the 20th Central Committee emphasized new goals for national defense capabilities, including the enhancement of "national defense strength" and "international influence" [21]. - The report highlights the aerospace sector as a key focus area for military investment, particularly in the context of the newly stated goal of becoming a "space power" [21]. - Upcoming quarterly reports are expected to show a turning point in industry performance, with several companies already reporting significant year-on-year revenue and profit growth [24]. Industry Overview - The military industry consists of 118 listed companies with a total market capitalization of 2,092.9 billion and a circulating market value of 1,736.7 billion [4]. - The SW National Defense and Military Industry Index has shown a performance increase of 16.47% year-to-date, although it has underperformed compared to the CSI 300 Index by 1.97% [12][20]. - The industry is currently valued at a PE (TTM) of 85.77 times, with a five-year percentile of 78.63% [20]. Key Events - The Fourth Plenary Session concluded with new national defense goals, including a focus on high-quality military modernization and the integration of advanced combat capabilities [21]. - The report notes that the aerospace equipment sector has been particularly responsive to the recent policy announcements, showing strong performance [16][21]. Performance Summary - The report identifies several companies with notable performance, including North Navigation with a revenue increase of 210% and a net profit increase of 268.8% [25]. - The top-performing stocks in the military sector include North Shares (+25.20%) and Feili Hua (+17.92%) [19].

Core Insights - The aviation equipment sector experienced a decline of 0.73% on October 22, with Jiachitech leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - ST Lihang (603261) saw a closing price of 21.74 with an increase of 3.03% and a trading volume of 14,400 [1] - Jiachitech (688708) closed at 71.20, down 3.09%, with a trading volume of 9,160.92 [2] - The highest trading volume was recorded for Xibu Superconductor (688122) at 334,200 shares, closing at 70.13 with a 2.35% increase [1] Capital Flow - The aviation equipment sector had a net outflow of 29.10 million yuan from main funds, while retail investors saw a net outflow of 107 million yuan [2] - Speculative funds recorded a net inflow of 136 million yuan into the sector [2] Individual Stock Capital Flow - Xibu Superconductor (688122) had a main fund net inflow of 145 million yuan, while retail investors experienced a net outflow of 204 million yuan [3] - An Dawei (300719) recorded a main fund net inflow of 14.98 million yuan, with a significant retail outflow of 17.65 million yuan [3]

Market Overview - The aviation equipment sector rose by 0.91% on October 21, with Filihua leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Filihua (300395) saw a significant increase of 14.17%, closing at 80.50 with a trading volume of 426,500 shares [1] - Other notable performers included Hangxin Technology (300424) with a 6.02% increase, and Hangyu Technology (688239) with a 4.42% increase [1] - The table below summarizes the performance of key stocks in the aviation equipment sector: | Code | Name | Closing Price | Change (%) | Volume (thousand) | |--------|--------------|---------------|------------|-------------------| | 300395 | Filihua | 80.50 | 14.17 | 426.5 | | 300424 | Hangxin Tech | 17.79 | 6.02 | 248.6 | | 688239 | Hangyu Tech | 43.67 | 4.42 | 48.3 | | 920642 | Tongyi Aerospace | 14.97 | 2.46 | 20.1 | | 002297 | Boyun New Material | 9.00 | 2.39 | 471.7 | | 603261 | *ST Lihang | 21.10 | 2.23 | 12.5 | | 300034 | Steel Research | 16.38 | 2.12 | 120.9 | | 920006 | Shengcao Technology | 27.85 | 1.94 | 11.3 | | 688287 | *ST Guandian | 4.78 | 1.92 | 14.9 | | 002625 | Guangqi Technology | 46.78 | 1.92 | 189.7 | [1] Capital Flow - The aviation equipment sector experienced a net inflow of 601 million yuan from institutional investors, while retail investors saw a net outflow of 454 million yuan [2] - The following table outlines the capital flow for key stocks: | Code | Name | Institutional Net Inflow (yuan) | Institutional Net Ratio | Retail Net Inflow (yuan) | Retail Net Ratio | |--------|--------------|----------------------------------|-------------------------|--------------------------|------------------| | 300395 | Filihua | 439 million | 13.32% | -83.56 million | -10.78% | | 688122 | Western Superconductor | 92.06 million | 7.09% | -36.26 million | -4.30% | | 300424 | Hangxin Tech | 54.02 million | 12.49% | -798,450 | -10.64% | | 600893 | Aero Engine | 47.64 million | 7.85% | 390,730 | -8.50% | | 688237 | Superlative Aerospace | 28.34 million | 18.13% | 530,500 | -21.53% | [3]

证券代码：688708 证券简称：佳驰科技 公告编号：2025-045 成都佳驰电子科技股份有限公司（以下简称"公司"）将于 2025 年 10 月 28 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 10 月 29 日（星期三） 9:00-10:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 会议召开时间：2025 年 10 月 29 日（星期三）9:00-10:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 成都佳驰电子科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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 ...