Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry in China [6]. Core Insights - The influence of China's weaponry and equipment is continuously expanding, with a positive outlook on the military trade market [10][12]. - The demand for self-sufficient aircraft engines and components is strengthening, indicating a potential rapid benefit for the industry chain [15]. - The current market conditions suggest a continued positive outlook for the military industry, with a focus on domestic demand and military trade developments [16]. Summary by Sections Investment Suggestions and Targets - The report highlights several investment targets within the military electronics sector, new materials, and the aircraft engine supply chain, recommending stocks such as Aerospace Electric (002025, Buy), Hongyuan Electronics (603267, Not Rated), and others [3][16]. Industry Developments - The report notes significant advancements in China's naval capabilities, particularly with the Fujian aircraft carrier, which has completed its first catapult launch and landing training with multiple aircraft types, enhancing operational range and combat capabilities [12][14]. - The report emphasizes the urgency for self-sufficient commercial aircraft engines, driven by geopolitical factors and the need for domestic innovation in the aviation sector [15]. Market Performance - The defense and military industry index has shown a slight decline of -0.42%, underperforming compared to the broader market indices [19][20].

Core Viewpoint - Zhuhua Technology (000733) announced the election of Ms. Zuo Caifeng as the employee director of the 10th Board of Directors during a recent employee representative meeting [1] Group 1 - The company held an employee representative meeting where all attending representatives voted [1] - Ms. Zuo Caifeng was elected as the employee director [1]

Market Overview - The military electronics sector experienced a decline of 1.09% on September 26, with Huafeng Technology leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers in the military electronics sector included: - Chengdian Optoelectronics (code: 920008) with a closing price of 31.20, up 2.73% [1] - AVIC Chengfei (code: 302132) with a closing price of 88.07, up 2.72% [1] - Liujia 6912 (code: 301592) with a closing price of 136.18, up 1.41% [1] - Major decliners included: - Huafeng Technology (code: 688629) with a closing price of 98.67, down 6.81% [2] - Jinxin Technology (code: 300252) with a closing price of 14.55, down 6.19% [2] - Guoguang Electric (code: 688776) with a closing price of 66.58, down 6.07% [2] Capital Flow - The military electronics sector saw a net outflow of 643 million yuan from institutional investors, while retail investors contributed a net inflow of 619 million yuan [2][3] - Specific stock capital flows included: - AVIC Chengfei had a net inflow of 1.28 billion yuan from institutional investors [3] - Huafeng Technology experienced a significant net outflow of 675.7 million yuan from institutional investors [3] - Zhenxin Technology had a net inflow of 486.3 million yuan from institutional investors [3]

南财智讯9月26日电，振华科技公告，非独立董事左才凤女士因工作原因辞职，辞职后继续担任公司党 委副书记、纪委书记、工会主席及其他相关职务。同时，公司召开职工代表会议，选举左才凤女士为第 十届董事会职工董事，任期至第十届董事会任期届满之日止。左才凤女士持有公司股份28,800股，符合 相关法律法规要求。 ...

证券代码：000733 证券简称：振华科技 公告编号：2025-059 中国振华（集团）科技股份有限公司 关于董事辞职暨选举职工董事的公告 左才凤女士当选公司职工董事后，公司第十届董事会中兼任公司高级管 理人员以及由职工代表担任的董事人数总计未超过公司董事总数的二分之 一，符合相关法律法规的要求。 特此公告。 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。 一、关于董事辞职的情况 中国振华（集团）科技股份有限公司（以下简称公司）董事会于近日收 到公司非独立董事左才凤女士递交的书面辞职报告。因工作原因，左才凤女 士申请辞去公司董事职务，左才凤女士辞职后将继续在公司担任党委副书 记、纪委书记、工会主席及其他相关职务。 根据《公司法》《上市公司规范运作指引》和公司《章程》的规定，左 才凤女士的辞职未导致公司董事会成员人数低于法定最低人数，其辞职自辞 职报告送达董事会之日起生效。 截至本公告披露之日，左才凤女士持有公司股份 28,800 股。 二、关于选举职工董事的情况 公司于近日召开了职工代表会议，经全体与会职工代表表决，选举左才 凤女士为第十届董事会职工董事，任期 ...

一、会议召开和出席情况 （一）会议召开情况 证券代码：000733 证券简称：振华科技 公告编号：2025-058 中国振华（集团）科技股份有限公司 2025年第三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 （三）本次会议未涉及变更前次股东大会决议的情形 1. 召开时间： （1）现场会议时间：2025年9月25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9月25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9月25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 - 1 - 开。 4. 召集人：公司董事会。 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 ...

关于中国振华（集团）科技股份有限公司 2025 年第三次临时股东大会的 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 9 月 25 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 年第三次临时股东大会（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八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 ...

Core Viewpoint - The article discusses the recent trends in cash management and investment strategies of listed companies in China, highlighting a shift from traditional low-yield deposits to higher-yield financial products due to a prolonged low-interest-rate environment [1][4]. Group 1: Company Cash Management Trends - Zhuhai Technology announced the use of up to 1.7 billion yuan of idle fundraising for cash management, reflecting a broader trend among companies to seek higher returns on their idle funds [1]. - The number of listed companies purchasing financial products has decreased for three consecutive years, with a 34% drop in 2023 and a further 5.45% decline in 2024 [1][4]. - As of September 23, 2023, 1,094 A-share listed companies held a total of 12,235 financial products, with a total subscription amount of 770.72 billion yuan, down from 880.23 billion yuan in the same period of 2024 [1]. Group 2: Investment Strategies and Product Preferences - Companies are diversifying their investment strategies, with state-owned enterprises focusing on low-risk, principal-protected financial products, while private companies are exploring overseas investments and utilizing currency hedging [2]. - The average annualized yield for cash management products was reported at 1.32%, with fixed-income products yielding 1.12%, indicating a slight increase in returns [3]. - The proportion of structured deposits in the overall investment mix of listed companies has decreased from 63.8% in 2023 to 60.9% in 2025, while investments in bank wealth management and government bond reverse repos have increased [3]. Group 3: Market Conditions and Future Outlook - Despite a decline in overall financial management scale, some companies are showing increased risk appetite due to a recovering secondary market [4]. - In the first half of 2025, 133 listed companies disclosed a total of 29.55 billion yuan in securities investments, reflecting a 42% year-on-year increase, while financial management scale decreased by 24.96% [5]. - The trend indicates a migration of funds from conservative management to more active investment strategies, with expectations of significant shifts from deposits to financial management in the coming year [5].

振华科技9月23日大宗交易平台出现一笔成交，成交量41.70万股，成交金额2168.40万元，大宗交易成交 价为52.00元，相对今日收盘价溢价6.10%。该笔交易的买方营业部为中信建投证券股份有限公司上海营 口路证券营业部，卖方营业部为华泰证券股份有限公司嘉兴纺工路证券营业部。 进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为2387.86万元。 证券时报·数据宝统计显示，振华科技今日收盘价为49.01元，下跌0.31%，日换手率为2.07%，成交额为 5.59亿元，全天主力资金净流入576.44万元，近5日该股累计上涨2.98%，近5日资金合计净流入2825.45 万元。 两融数据显示，该股最新融资余额为11.43亿元，近5日减少1705.54万元，降幅为1.47%。 据天眼查APP显示，中国振华(集团)科技股份有限公司成立于1997年06月26日。注册资本55416.9431万 人民币。（数据宝） 9月23日振华科技大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万 ...

证券代码：000733 证券简称：振华科技 公告编号：2025-057 中国振华（集团）科技股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 公司及董事会全体成员保证信息披露内容的真实、准确和完整，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9月 12日召开第十届董事会第九次会议，审议通过《关于使用部分闲置募集 资金进行现金管理的议案》，同意公司自2025年9月16日起12个月内使用 额度不超过170,000万元的暂时闲置募集资金，在确保不影响募集资金投 资项目建设和募集资金投资计划正常进行的前提下进行现金管理。具体内 容详见2025年9月13日刊登在《证券时报》及巨潮资讯网的《关于使用部 分闲置募集资金进行现金管理的公告》。 现将公司近期使用闲置募集资金进行现金管理的实施进展情况公告 如下： - 1 - 序号 受托方 产品名称 产品类型 理财本金 （万元人 民币） 起始日期 到期日期 预期年化 收益率 实际收益 (万元人 民币) 1 中国建设银行 股份有限公司 贵阳城北支行 中国建设银行贵州省分行单位人 民币定制型结构性存款（产品编 号： ...