格隆汇9月25日丨海特高新(002023.SZ)在投资者互动平台表示，公司参股公司华芯科技的滤波器项目属 于国内厂商定制化服务，新型滤波器相对SAW滤波器和BAW滤波器，采用了新的设计思路，砷化镓滤 波器已经实现批量出货。 ...

格隆汇9月25日丨海特高新(002023.SZ)在投资者互动平台表示，华芯科技建有国内首条6英寸化合物半 导体商用生产线。 ...

Market Overview - The aviation equipment sector increased by 0.67% on September 24, with Zongheng Co. leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Zongheng Co. (688070) closed at 57.10, rising by 8.06% with a trading volume of 29,800 lots and a transaction value of 163 million yuan [1] - Other notable performers included: - Hitec High-tech (002023) at 12.33, up 3.44% [1] - Aviation New Technology (300424) at 15.59, up 2.84% [1] - Western Superconducting (688122) at 58.49, up 2.60% [1] Capital Flow - The aviation equipment sector saw a net inflow of 57.50 million yuan from institutional investors, while retail investors contributed a net inflow of 29.80 million yuan [2] - However, speculative funds experienced a net outflow of 355 million yuan [2] Individual Stock Capital Flow - Key stocks with significant capital flow included: - Guangqi Technology (002625) with a net inflow of 21.20 million yuan from institutional investors [3] - AVIC Shenyang Aircraft (600760) with a net inflow of 97.23 million yuan [3] - AVIC Power (600893) with a net inflow of 49.86 million yuan [3]

eVTOL整机商展区是展会最大的亮点，众多全球领先的eVTOL飞行器实机及概念机型集中亮相，eVTOL整机商展区会展示国内外领跑eVTOL飞行器，包括 飞行汽车、多旋翼eVTOL、复合翼eVTOL、倾转旋翼eVTOL、滚筒旋翼、飞碟等一批兼具技术前瞻性与场景实用性的eVTOL飞行器。 此外，近期香港特区政府在《行政长官2025年施政报告》中明确，将推进具竞争力的低空经济生态圈建设，目标是成为低空创新应用亚太区枢纽。报告提出 制订行动纲领，完善法例、推展基建，于2025年年底前推出专用频谱，提前规划部署起降场、航路网络、卫星定位、三维空间数据系统、智能低空交通管理 系统等。优化"监管沙盒"，成熟场景恒常化并推"监管沙盒X"，同时保险业将开发低空经济保险产品。 当前，国内地方发展低空经济政策仍在持续推出，低空企业投融资活跃，应用场景逐步落地。低空经济是未来确定性高的新质生产力发展方向，预计2025年 将突破1.5万亿元，2035年有望达到3.5万亿至6万亿元量级，成为推动经济转型的核心增长极。值得注意的是，在科技成长板块中，今年以来低空经济板块相 对滞涨，但低空经济方向毋庸置疑也是新质生产力的重要方向之一，后续有 ...

Core Insights - Sichuan Hite High-tech Co., Ltd. hosted an on-site investor meeting with eight institutions, including Linrui Fund and Puhang Asset, to discuss the company's performance, core advantages, and market opportunities [1][2]. Group 1: Performance and Business Model - The company reported strong performance in Q2, driven by the extension of its R&D and manufacturing businesses, with products achieving a mature and mass delivery stage. The results in the aerospace engine component manufacturing have been significant and are now being applied in model maintenance, indicating the resilience of the business model and new growth momentum [3]. Group 2: Core Advantages in the Aerospace Industry - Technological innovation is the core competitive advantage of Sichuan Hite High-tech. The company possesses core technologies, a talented team, and research infrastructure across various fields, including aerospace engines, electronics, and machinery. It has developed over 40 projects in pre-research, research, and mass production, creating a virtuous cycle of innovation [4]. Group 3: Opportunities in the Yangtze River Delta Aircraft Industry Cluster - The company is actively expanding its multi-client maintenance market and developing capabilities for the maintenance and product development of domestic large aircraft and new aircraft models. It has acquired technical service capabilities for multiple systems in domestic commercial aircraft, gradually forming a comprehensive support capability at the aircraft system level [5]. Group 4: Low-altitude Economy Development - The company successfully developed and delivered the first domestic eVTOL simulator and is actively participating in the formulation of low-altitude industry standards, including co-authoring relevant white papers and developing group standards for new low-altitude aircraft operator licenses and training needs [6]. Group 5: "Belt and Road" Overseas Market Planning - The company is using Singapore as a "bridgehead" to expand into Southeast Asian markets and aims to increase its market share in overseas simulator sales, large-scale repairs in Southeast Asia, and overseas sales of aviation materials, while collaborating with partners to establish a presence in the European and "Belt and Road" simulator and training markets [7].

Group 1: Company Performance and Growth - The company's second-quarter performance demonstrates resilience in its business model and new growth momentum, with significant increases in delivery volume and business revenue due to ongoing R&D and manufacturing capabilities [1][2] - The company has established a virtuous cycle of "pre-research, in-research, and mass production" across over 40 projects derived from seven core areas, enhancing its competitive edge in the aviation industry [2] Group 2: Strategic Opportunities - The construction of the Yangtze River Delta large aircraft industry cluster presents a major strategic opportunity, with the company actively expanding its maintenance market and product development capabilities for domestic large aircraft [2][3] - The company has successfully developed and delivered the first domestic eVTOL simulator and is involved in setting industry standards, positioning itself as a core builder of the "low-altitude simulation ecosystem" [3][4] Group 3: International Expansion - The company is leveraging the "Belt and Road" initiative to systematically explore overseas markets, focusing on Southeast Asia and aiming to expand its market share in simulator sales and aircraft maintenance [4]

Group 1 - The aviation equipment sector experienced a decline of 0.55% on September 18, with Shengnan Technology leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] - Notable gainers in the aviation equipment sector included Chaozhuo Aerospace (up 7.13% to 54.98), Hangyu Technology (up 5.47% to 39.34), and ST Lihang (up 4.98% to 21.93) [1] Group 2 - Shengnan Technology saw a decline of 4.22% to close at 28.80, with a trading volume of 27,900 shares and a transaction value of 82.62 million [2] - The aviation equipment sector experienced a net outflow of 5.57 billion from main funds, while retail investors saw a net inflow of 2.97 billion [2] - The trading volume for notable decliners included Boyun New Materials (down 3.28% to 8.26) and Haitai High-tech (down 3.14% to 12.03) [2]

Market Performance - The aviation equipment sector rose by 0.87% on September 17, with *ST Guandian leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Notable gainers included: - *ST Guanqu with a closing price of 4.85, up 5.21% with a trading volume of 59,400 shares and a turnover of 28.69 million yuan [1] - Maxinlin at 61.80, up 4.29% with a trading volume of 54,500 shares and a turnover of 335 million yuan [1] - Guangqi Technology at 48.76, up 3.99% with a trading volume of 513,800 shares and a turnover of 2.487 billion yuan [1] - Other stocks with positive performance included Huayin Technology, Hangfa Technology, and Feilv Technology, all showing increases in their closing prices and trading volumes [1] Fund Flow Analysis - The aviation equipment sector experienced a net outflow of 217 million yuan from institutional investors, while retail investors saw a net inflow of 204 million yuan [2] - The top stocks by net inflow from retail investors included Guangqi Technology and Feilv Technology, indicating strong retail interest despite institutional outflows [3] Summary of Key Stocks - Guangqi Technology had a significant net inflow of 128 million yuan from institutional investors, while experiencing a net outflow of 10.16 million yuan from speculative funds [3] - Feilv Technology also saw a net inflow of 124 million yuan from institutional investors, with a notable outflow from retail investors [3] - Other stocks like Haita High-tech and Hangfa Technology showed mixed fund flows, with varying levels of institutional and retail interest [3]

Core Viewpoint - The company, Hitec High-Tech, has shown a positive stock performance and financial growth, indicating potential investment opportunities in the aerospace and defense sector [1][2]. Financial Performance - As of June 30, Hitec High-Tech reported a revenue of 705 million yuan, representing a year-on-year growth of 14.08% [2]. - The net profit attributable to shareholders for the same period was 63.70 million yuan, reflecting a year-on-year increase of 35.31% [2]. - The company's stock price has increased by 20.49% year-to-date, with a 3.38% rise over the last five trading days [1]. Shareholder Information - The number of shareholders increased to 96,400, up by 10.22% compared to the previous period [2]. - The average number of circulating shares per shareholder decreased by 9.27% to 7,685 shares [2]. Dividend Distribution - Hitec High-Tech has distributed a total of 364 million yuan in dividends since its A-share listing, with 37.04 million yuan distributed over the last three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders include Southern CSI 1000 ETF, which increased its holdings by 103.26 million shares [3]. - Hong Kong Central Clearing Limited reduced its holdings by 202.87 million shares during the same period [3].

Group 1 - The company has established a strategic partnership with leading eVTOL manufacturers, which is significant for the aviation industry [2] - The company possesses technical advantages in developing D-level full-motion flight simulators and has successfully delivered the first domestic A320 CEO/NEO and B737NG, B737MAX D-level full-motion flight simulators [2] - The company has led the formulation of the group standard for "Data Exchange Requirements for Civil Flight Simulation Training Equipment" in collaboration with domestic simulator manufacturers [2] Group 2 - The company has successfully developed the first domestic 600 kW class turboshaft drone engine control system and has begun small-scale deliveries to customers [2]