Market Overview - The military electronics sector experienced a decline of 1.28% on September 15, with Kesi Technology leading the drop [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Notable gainers in the military electronics sector included: - *ST Wanfang (000638): Closed at 4.41, up 2.08% with a trading volume of 129,000 shares and a turnover of 56.43 million yuan [1] - Aopu Optoelectronics (002338): Closed at 49.95, up 1.01% [1] - Turei Technology (600562): Closed at 27.80, up 0.72% [1] - Major decliners included: - Kesi Technology (688788): Closed at 55.17, down 4.72% with a trading volume of 75,200 shares and a turnover of 418 million yuan [2] - Xinguang Optoelectronics (688011): Closed at 42.25, down 3.85% [2] - Jinxin Nuo (300252): Closed at 15.52, down 3.78% with a trading volume of 1,328,900 shares and a turnover of 2.084 billion yuan [2] Capital Flow - The military electronics sector saw a net outflow of 1.668 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.217 billion yuan [2]

Core Viewpoint - The company operates in an industry characterized by long settlement cycles, resulting in a relatively large scale of accounts receivable [2] Group 1: Accounts Receivable Management - The company has robust contracts that provide more security compared to ordinary commercial contracts, ensuring the safety of receivables due to the strong creditworthiness of major clients [2] - Current collection status meets expectations, and the company is continuously enhancing accounts receivable management by refining collection efforts and strengthening the collection of long-aged receivables [2] - The company has sufficient capital reserves to meet long-term funding needs [2] Group 2: Bad Debt Provisions - The company will strictly adhere to accounting standards and relevant regulations when assessing and provisioning for bad debts, taking into account operational management, market environment changes, and other factors [2]

Core Viewpoint - The company is focused on enhancing product competitiveness through increased investment in research and development, particularly in the areas of automation and intelligence [1] Group 1: R&D Focus - The company is concentrating on key areas such as intelligent unmanned equipment, smart wireless communication, and intelligent communication chips [1] - Continuous investment in various fields including computer and network technology, communication, software, cloud computing, virtual reality, artificial intelligence, smart decision-making, and chip design is emphasized [1] Group 2: Management Confidence - The management team expresses strong confidence in the company's future development and is committed to delivering positive operating results to reward investors' trust and support [1]

Group 1 - The company is actively cooperating with local government departments and third-party project construction agencies [1] - The company has obtained the "Confirmation of Successful Bidding for State-owned Construction Land Use Rights" from the Nanjing Planning and Natural Resources Bureau [1] - The company is preparing for trial pile work and is committed to completing the project within the planned timeline [1] Group 2 - The company has sufficient funds to meet the construction needs of the project [1] - The company implements a special account storage system for raised funds, ensuring strict regulation of fund storage, usage, project management, and supervision [1] - The project is expected to enhance overall production capacity and positively impact future operating performance, although specific effects depend on various factors [1]

Core Viewpoint - The company is integrating artificial intelligence with its business products, focusing on the development of intelligent unmanned systems, smart wireless communication, and chip-related projects [1] Group 1: Business Focus - The company is concentrating on the research and development of intelligent unmanned systems, smart wireless communication, and chip-related projects [1] - The applications of these technologies include intelligent perception, intelligent decision-making, information sharing, and situational presentation [1] - The intelligent unmanned product forms cover all domains including land, sea, and air [1] Group 2: Future Plans - The company aims to stay at the forefront of the industry, promoting the implementation of technology and business expansion [1] - Ongoing projects are currently in negotiation and will be disclosed in future reports [1]

证券日报网讯 科思科技9月12日在互动平台回答投资者提问时表示，公司所处行业普遍具有结算周期较 长的特点，因此应收账款规模相对较大。但同时公司签订的合同比普通的商业合同更有保障，公司的主 要客户实力雄厚、信誉良好，可以保证回款的安全性，坏账风险小。目前公司回款情况符合预期，公司 也在持续加强应收账款管理，细化催收工作，强化长账龄应收款项的催收力度，优化交货周期和资金回 款账期。公司目前的资金储备量充足，可以满足公司长期发展的资金需求。关于坏账计提比例，公司将 严格依照会计准则及相关法规要求，结合经营管理实际、市场环境变化等因素进行综合评估，并合理计 提资产减值准备。 （编辑 姚尧） ...

Core Viewpoint - The company expects significant revenue growth in the first half of 2025 compared to the same period last year, despite incurring losses due to high R&D investments, increased business development expenses, and appropriate asset impairment provisions [1] Group 1: Financial Performance - The company anticipates a substantial increase in operating income for the first half of 2025 compared to the previous year [1] - The company is maintaining high levels of R&D investment, which contributes to increased operational costs [1] - The company has made appropriate provisions for asset impairment, impacting profitability [1] Group 2: Strategic Focus - The company aims to enhance its system-level solutions in the areas of intelligence and automation through continuous technological accumulation and product iteration [1] - The management is confident in transforming technological advantages into sustainable business growth through new product development, existing product upgrades, and market expansion [1] - The company plans to focus on core technologies and optimize resource allocation to seize industry development opportunities [1]

Group 1 - The core point of the news is that Kesi Technology (SH 688788) announced that shareholder Liu Jiande has had approximately 59.77 million shares frozen, accounting for 38.1% of the company's total share capital [1] - As of the announcement date, Kesi Technology's market capitalization is 9.1 billion yuan [2] - For the fiscal year 2024, Kesi Technology's revenue composition is as follows: civilian products account for 57.79%, military products account for 41.73%, and other businesses account for 0.48% [1]

| 冻结机关 | 北京市第三中级人民法院 | | | | --- | --- | --- | --- | | 股东名称 冻结日期 | 刘建德 年 2025 9 11 | 月 | 日 | 证券代码：688788 证券简称：科思科技 公告编号：2025-080 深圳市科思科技股份有限公司 关于控股股东所持股份被冻结的公告 本公司董事会及除刘建德先生外董事会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 依法承担法律责任。 重要内容提示： 截至本公告披露日，公司控股股东、实际控制人刘建德先生被冻结 的公司股份数量为 59,769,474 股，占公司股份总数的 38.10%。本次冻结主要系 控股股东、实际控制人个人民事债务纠纷，对方提起诉中保全所致。上述冻结 事项不会导致公司控制权发生变更，亦不会对公司持续经营、公司治理等产生 影响。公司控股股东、实际控制人不存在非经营性资金占用、违规担保等侵害 上公司利益的情形。截至本公告披露日，公司暂未收到与本次股份冻结相关的 正式法律文书、通知或其他信息。 一、股份冻结的具体情况 深圳市科思科技股份有限公司（以下简称"公司 ...

Core Viewpoint - The company is integrating artificial intelligence deeply into its business products, focusing on the development of intelligent unmanned systems, smart wireless communication, and chip-related projects [1] Group 1: Business Focus - The company is concentrating on research and development in intelligent unmanned systems, smart wireless communication, and chip-related projects [1] - The applications of these technologies include intelligent perception, intelligent decision-making, information sharing, and situational presentation [1] - The intelligent unmanned product forms cover all domains including land, sea, and air [1] Group 2: Industry Positioning - The company aims to stay at the forefront of the industry, promoting the implementation of technology and business expansion [1] - Ongoing projects are currently in negotiation and alignment phases, with further details to be disclosed in future reports [1]