资金流向方面，今日主力资金净流入5684.36万元，占比成交额6.55%。其中，超大单净流出1530.95万 元、占成交额1.76%，大单净流入7215.31万元、占成交额8.31%，中单净流出流出3083.94万元、占成交 额3.55%，小单净流出2600.42万元、占成交额3.0%。 振华科技最新一期业绩显示，截至2025一季报，公司营业总收入9.08亿元、同比减少10.45%，归属净利 润5851.43万元，同比减少42.60%，扣非净利润4459.47万元，同比减少52.82%，流动比率6.630、速动比 率5.507、资产负债率18.02%。 天眼查商业履历信息显示，中国振华(集团)科技股份有限公司，成立于1997年，位于贵阳市，是一家以 从事软件和信息技术服务业为主的企业。企业注册资本55416.9431万人民币，实缴资本55416.943万人民 币。公司法定代表人为杨立明。 金融界消息 截至2025年8月13日收盘，振华科技（000733）报收于50.2元，上涨0.8%，换手率3.14%， 成交量17.40万手，成交金额8.68亿元。 通过天眼查大数据分析，中国振华(集团)科技股份有限公司共对外 ...

Investment Rating - The report maintains an "Accumulate" rating for the defense and military industry [5] Core Views - The report is optimistic about the gradual improvement of fundamentals and the upward trend in new domains and new quality combat capabilities, particularly in satellite internet construction [8][24] - The defense index has risen by 24.04% since May 6, driven by military trade and parade sentiments, indicating strong market performance [8][23] Summary by Sections Industry Overview - The defense and military industry comprises 143 listed companies with a total market value of 30,365.12 billion and a circulating market value of 25,995.20 billion [2] Market Performance - The defense and military index increased by 5.93% this week, outperforming other major indices [7][37] - The current PE(TTM) for the defense and military sector is 75.6 times, with sub-sectors showing varying valuations [7][43] Key Improvement Tracks - **Missile and Military Electronics**: Anticipated growth in demand for precision-guided munitions is expected to lead to a surge in military electronics orders starting from Q4 2024 [8][23] - **Aerospace Engine Supply Chain**: Recovery in military engine procurement and improvements in profitability are expected due to new model introductions and maintenance business growth [9][10][23] Focus Areas for Development - **New Generation Manned and Unmanned Aircraft**: The J-35 is expected to drive a new wave of growth in the aerospace supply chain [11][23] - **Satellite Internet**: The successful launch of the seventh batch of satellites for the GW constellation marks significant progress in satellite internet capabilities [12][24] - **Commercial Space Industry**: The report highlights the acceleration of commercial space activities, with plans for significant satellite launches in 2025 [14][24] Suggested Companies to Watch - **Missile and Military Electronics**: Companies like Zhenhua Technology, Hongyuan Electronics, and Torch Electronics are highlighted [19][25] - **Aerospace Engines**: Focus on Aviation Power and its supporting companies [26] - **New Generation Unmanned Aircraft**: Companies such as AVIC Shenyang Aircraft and AVIC Chengfei are recommended [27] Key Developments - **Nuclear Fusion**: The "Spark One" project aims to complete construction by the end of 2029, with a goal to demonstrate power generation by 2030 [15][28] - **Low-altitude Economy**: The successful flight of a 2-ton eVTOL for offshore oil platform logistics marks a significant milestone [16][29]

金融界消息 截至2025年8月1日收盘，振华科技（000733）报收于47.65元，上涨0.25%，换手率3.12%， 成交量17.30万手，成交金额8.27亿元。 资金流向方面，今日主力资金净流入8374.73万元，占比成交额10.12%。其中，超大单净流入2879.31万 元、占成交额3.48%，大单净流入5495.43万元、占成交额6.64%，中单净流出流出948.31万元、占成交 额1.15%，小单净流出7426.42万元、占成交额8.98%。 来源：金融界 天眼查商业履历信息显示，中国振华(集团)科技股份有限公司，成立于1997年，位于贵阳市，是一家以 从事软件和信息技术服务业为主的企业。企业注册资本55416.9431万人民币，实缴资本55416.943万人民 币。公司法定代表人为杨立明。 通过天眼查大数据分析，中国振华(集团)科技股份有限公司共对外投资了26家企业，参与招投标项目28 次，知识产权方面有商标信息45条，专利信息211条，此外企业还拥有行政许可3个。 振华科技最新一期业绩显示，截至2025一季报，公司营业总收入9.08亿元、同比减少10.45%，归属净利 润5851.43万元，同比 ...

Summary of Key Points Core Viewpoint - The average salary of secretaries in A-share listed companies reached 754,300 yuan in 2024, with a total salary of 4.086 billion yuan for all secretaries [1]. Group 1: Salary Insights - The average salary for secretaries in the defense and military industry was 650,100 yuan in 2024 [2]. - Total salary for secretaries in the defense and military industry amounted to 92.3127 million yuan, with an average salary of 887,200 yuan [3]. - The highest-paid secretary was Hu Guangwen from Zhenhua Technology, earning 1.5231 million yuan, an increase of 374,900 yuan from the previous year [4]. Group 2: Educational Background and Salary Trends - 54.23% of secretaries hold a master's degree, while 40.14% have a bachelor's degree, 2.82% are PhDs, and 2.11% have an associate degree [4]. - 48.59% of listed companies reported a year-on-year increase in secretary salaries, while 48.59% reported a decrease [4]. Group 3: Performance and Salary Changes - The lowest-paid secretary was Zhu Qinghai from AVIC High-Tech, earning 120,900 yuan due to a short tenure [5]. - The highest salary increase (excluding new secretaries) was for Shen Juan from Aopu Optoelectronics, whose salary rose by 88.90% to 822,100 yuan [5]. - The largest salary decrease was for He Min from Aerospace Nanhu, whose salary fell by 33.59% to 425,000 yuan [6]. Group 4: Regulatory Actions - Since the beginning of 2025, secretaries in the defense and military industry have faced three administrative regulatory measures and one administrative penalty [7][8]. - The administrative penalty involved a warning and a fine of 3.3 million yuan for Li Zhenbing, the secretary of *ST Guandian, due to negligence in information disclosure [9].

（三）本次会议未涉及变更前次股东大会决议的情形 证券代码：000733 证券简称：振华科技 公告编号：2025-040 中国振华（集团）科技股份有限公司 2025年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： （一）本次会议未出现否决议案的情形 （二）本次大会未出现新增临时提案情形 一、会议召开和出席情况 （一）会议召开情况 1.召开时间： （1）现场会议时间：2025年7月30日下午15:00。 （2）网络投票时间：通过深圳证券交易所交易系统投票的具体时间为 2025年7月30日上午9:15～9:25、9:30～11:30，下午13:00～15:00；通过深 圳证券交易所互联网投票系统投票的具体时间为2025年7月30日9:15～ 15:00期间的任意时间。 2.现场会议召开地点：贵阳市乌当区新添大道北段268号。 3.召开方式：本次股东大会采取现场表决与网络投票相结合的方式召 开。 4.召集人：公司董事会。 - 1 - 5.主持人：公司董事长杨立明先生。 6.本次会议的召开符合《公司法》、深圳证券交易所《股票上市规 ...

关于中国振华（集团）科技股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：中国振华（集团）科技股份有限公司 北京市炜衡（贵阳）律师事务所（以下简称"本所"）接受中国振华 （集团）科技股份有限公司（以下简称"公司"）的委托，指派本所律师 列席 2025 年 7 月 30 日下午 15:00 在贵州省贵阳市乌当区新添大道北段 268 号公司办公楼四楼会议室召开的公司 2025 年第二次临时股东大会（以 下简称"本次股东大会"），现依据《中华人民共和国公司法》《中华人民 共和国证券法》等现行法律、行政法规和其他规范性文件（以下简称"法 律法规"）及《中国振华（集团）科技股份有限公司章程》（以下简称"公 司章程"）的规定，就本次股东大会的召集和召开程序、出席会议人员资 格、召集人资格、会议表决程序和现场表决结果等事宜（以下简称"程序 事宜"）出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会 的文件、公司第十届董事会第六次会议决议以及根据上述决议内容刊登的 公告、本次股东大会的通知、议案、表决票和决议等，同时听取了公司就 有关事实的陈述和说明，列席了本次股东大会。公司承诺其 ...

格隆汇7月30日丨振华科技(000733.SZ)于投资者互动平台表示，公司未参与雅江水电站项目建设，公司 生产的开关类、连接器类等产品已间接配套水电站项目。 ...

Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [5]. Core Viewpoints - The integrated combat system of China is expected to rapidly open up the market, with military trade likely to continue increasing [16][17]. - In Q2 2025, active funds have significantly increased their overweight position in the military sector, with expectations for further increases focusing on military trade and new combat directions [21]. - The current market position remains optimistic for the military sector, with upstream components and key materials expected to benefit from demand amplification effects [22]. Summary by Sections 1.1 Military Trade and Equipment Strength - The Weapon Industry Group showcased China's military trade capabilities in unmanned and counter-unmanned systems, indicating a growing demand for military trade [9][16]. - The demonstration included various advanced equipment such as the BZK-005E drone and the Tianlong 100 air defense missile system, highlighting the capabilities of China's integrated combat system [17][18]. 1.2 Fund Allocation Trends - In Q2 2025, the overweight position of active funds in the military sector increased to 0.92 percentage points, up from 0.57 percentage points in Q1 2025, indicating a growing confidence in military trade and new combat technologies [21][22]. - The report suggests that the market's understanding of the marginal elasticity of military trade is still insufficient, with potential for performance releases to strengthen military trade logic [21]. 1.3 Current Market Outlook - The military sector has shown positive performance since July, with many sub-sectors still at low levels, suggesting significant configuration value [22]. - The report emphasizes the importance of upstream components and key materials in weapon development and production, which are expected to benefit from increased demand [22]. Appendix: Market Performance and News - The defense and military industry index rose by 1.28% but underperformed compared to the broader market indices [24]. - Key military companies have reported significant growth in their half-year earnings, with many companies showing rapid increases in net profits [44].

本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误 导性陈述或者重大遗漏。 中国振华（集团）科技股份有限公司（以下简称公司）于2025年7月 15日在证券时报和巨潮资讯网（http://www.cninfo.com.cn）披露了《关 于召开2025年第二次临时股东大会的通知》（公告编号：2025-038），为进 一步维护投资者合法权益，方便公司股东行使股东大会表决权，现发布《关 于召开2025年第二次临时股东大会的提示性公告》。 一、召开会议的基本情况 证券代码：000733 证券简称：振华科技 公告编号：2025-039 （一）股东大会届次：2025年第二次临时股东大会 中国振华（集团）科技股份有限公司 关于召开2025年第二次临时股东大会的提示性公告 2.本公司董事、监事及高级管理人员。 （二）会议召集人：公司董事会 （三）会议召开的合法、合规性： 本次会议的召开符合《公司法》、深圳证券交易所《股票上市规则》 及公司《章程》的有关规定。 （四）会议召开时间： 1.现场会议时间：2025年7月30日下午15:00。 2.网络投票时间：通过深圳证券交易所交易系统投票的具体时间为 2025年 ...

Investment Rating - The report maintains a "Positive" outlook for the defense and military industry, indicating a favorable investment environment [5]. Core Insights - The military industry is expected to see a significant increase in fund allocation, with a focus on military trade and new combat capabilities. The report suggests that the military trade sector will continue to catalyze growth, and there is still room for upward movement in holdings [2][34]. - The report highlights that the pessimistic expectations for the military industry's upstream have already been reflected in stock prices, and an increase in market confidence regarding the sustainability of the industry will likely enhance upstream holdings [34]. Summary by Sections 1. Fund Allocation Trends - In Q2 2025, the active funds' heavy allocation in the military sector increased significantly, with a rise in the allocation ratio from 0.57 percentage points to 0.92 percentage points. The total market value of active funds in the military sector grew by 20.77% [12][8]. - The report notes that the allocation ratio for component stocks decreased significantly, but it is expected to rebound as orders materialize and market conditions improve [18][22]. 2. Focus Areas for Investment - The report recommends focusing on specific sub-sectors within the military industry, including: - Military Electronics: Companies like Zhenhua Technology (000733, Buy), Aerospace Electronics (002025, Buy), and others [2][34]. - Key Materials and Components: Companies such as Western Superconducting (688122, Buy) and others [2][34]. - Engine Chain: Companies like Aero Engine Corporation (600893, Not Rated) and others [2][34]. - Military Trade: Companies such as AVIC Shenyang Aircraft Corporation (600760, Not Rated) and others [2][34]. - New Quality Productivity: Companies like Aerospace Electronics (600879, Not Rated) and others [3][34]. 3. Market Dynamics - The report indicates that the military trade business is expected to accelerate, with a positive outlook for military trade stocks. The active funds are increasingly focusing on sectors benefiting from military trade and new combat capabilities [7][22]. - The report emphasizes that the market's understanding of the marginal elasticity of military trade for military enterprises is still insufficient, suggesting that future catalysts and performance releases will strengthen the military trade logic [22][34].