证券代码：002025 证券简称：航天电器 贵州航天电器股份有限公司 航天电器 2024 年度业绩说明会 投资者活动记录表 编号：2025-001 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他： （请文字说明其他活动内容） 参与单位名称 及人员姓名 航天电器2024年度业绩说明会采用网络远程方式进行，面向全体投资者 时间 2025 年 4 月 18 日 15:00-17:00 地点 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn"云访谈"栏目 公司接待人员 姓名 董事长：李凌志 独立董事：胡北忠 财务总监：孙潇潇 董事会秘书：张旺 投资者关系活动 主要内容介绍 1.公司这两年一直在做技改，目前产能相比于 2023 年，增长了多 少？2025 年是否还有新增产能投放？ 答：自 2021 年募集资金投资项目实施以来，公司产能比 2023 年明 显改善。2025 年公司视市场需求情况，持续开展产能提升。 2.行业以后的发展前景怎样？ 答：公司聚焦互连互通、驱动控制产业，符合国家战略新兴产业规 划、 ...

出席本次年度业绩说明会的人员有：公司董事长李凌志先生、独立董事胡北忠先生、财务总监孙潇潇女 士、董事会秘书张旺先生。 为充分尊重投资者、提升交流的针对性，现就公司2024年度业绩说明会提前向投资者公开征集问题，广 泛听取投资者的意见和建议。投资者可登录深圳证券交易所"互动易"平台 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002025 证券简称：航天电器 公告编号：2025-31 贵州航天电器股份有限公司 关于举办2024年度网上业绩说明会的通知 本公司董事会及全体董事保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 贵州航天电器股份有限公司（以下简称"公司"）《2024年年度报告及摘要》已于2025年4月1日在巨潮资 讯网（http://www.cninfo.com.cn）上披露。为便于投资者进一步了解公司2024年度报告内容及年度经营 情况，公司定于2025年4月18日（星期五）下午15:00-17:00举办2024年度网上业绩说明会。 本次年度业绩说明会采用网络远程方式召开，投资者可登录深圳证券交易所"互动易"平台 （http://irm.cninfo.com ...

证券代码：002025 证券简称：航天电器 公告编号：2025-31 贵州航天电器股份有限公司 关于举办 2024 年度网上业绩说明会的通知 本公司董事会及全体董事保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 贵州航天电器股份有限公司（以下简称"公司"）《2024 年年度报告及摘要》 已于 2025 年 4 月 1 日在巨潮资讯网（http://www.cninfo.com.cn）上披露。为 便于投资者进一步了解公司 2024 年度报告内容及年度经营情况，公司定于 2025 年 4 月 18 日（星期五）下午 15:00-17:00 举办 2024 年度网上业绩说明会。 出席本次年度业绩说明会的人员有：公司董事长李凌志先生、独立董事胡北 忠先生、财务总监孙潇潇女士、董事会秘书张旺先生。 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可登录深圳证 券交易所"互动易"平台（http://irm.cninfo.com.cn）"云访谈"栏目，进入 公司 2024 年度业绩说明会页面进行提问，公司将在本次 ...

Core Viewpoint - Guizhou Aerospace Electric Co., Ltd. has announced the repurchase and cancellation of 66,946 restricted stocks from five individuals as part of its 2022 stock incentive plan, resulting in a reduction of total shares and registered capital [1][2]. Group 1: Stock Repurchase and Capital Reduction - The company held its first extraordinary general meeting on April 8, 2025, where the proposal to repurchase and cancel part of the restricted stocks was approved [1][5]. - Following the repurchase, the total number of shares will decrease from 456,870,256 to 456,803,310, and the registered capital will change from RMB 456,870,256 to RMB 456,803,310 [1][2]. - The company is required to notify creditors, who have 45 days from the announcement date to request debt repayment or guarantees [2][3]. Group 2: Shareholder Meeting Details - The shareholder meeting was held on April 8, 2025, with a total of 272 participants representing 263,855,199 shares, accounting for 57.75% of the total share capital [10]. - The meeting combined both on-site and online voting, with specific time slots for each voting method [7][8]. - The proposal to repurchase and cancel the restricted stocks received 99.9964% approval from the voting shareholders [13]. Group 3: Legal Compliance and Documentation - The meeting was conducted in accordance with the relevant laws and regulations, and the legal opinions were provided by Beijing Zhonglun Law Firm [16][18]. - The company has made available the necessary documentation for creditors to submit their claims [3][4].

证券代码：002025 证券简称：航天电器 公告编号：2025-30 贵州航天电器股份有限公司 关于回购注销部分限制性股票减少注册资本 暨通知债权人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 贵州航天电器股份有限公司（以下简称"公司"）于 2025 年 4 月 8 日召开 2025 年第一次临时股东大会，审议通过了《关于回购注销 2022 年限制性股票激 励计划部分限制性股票的议案》。根据《上市公司股权激励管理办法》、《贵州航 天电器股份有限公司 2022 年限制性股票激励计划（草案修订稿）》的有关规定， 公司拟对 2022 年限制性股票激励计划中 5 人持有的尚未解除限售的 66,946 股限 制性股票进行回购注销。 本 次 回 购 注 销 完 成 后 ， 公 司 股 份 总 数 将 由 456,870,256 股减少至 456,803,310 股，注册资本将由人民币 456,870,256 元变更为 456,803,310 元， 具体以回购注销完成后中国证券登记结算有限公司深圳分公司出具的股本总数 为准。 本次公司回购注销部分限制性股票将导致公 ...

北京市中伦律师事务所 关于贵州航天电器股份有限公司 2025 年第一次临时股东大会的 法律意见书 二〇二五年四月 北京市中伦律师事务所 关于贵州航天电器股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：贵州航天电器股份有限公司（以下简称"公司"） 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员 资格、会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案 内容及该等议案所表述的事实或数据的真实性、准确性和完整性发表意见； 2．本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东 资格、网络投票结果均由相应的证券交易所交易系统和互联网投票系统予以认证； 1 （以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》 法律意见书 3．本所律师已经按照《股东大会规则》的要求，对公司本次会议所涉及的 相关事项进行了必要的核查和验证，所发表的结论性意见合法、准确，不存在虚 假记载、误导性陈述或者重大遗漏； 北京市中伦律师事务所（以下简称"本所"）接受公司的委托，指派律师出 席并见证公司2025年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据 ...

证券代码：002025 证券简称：航天电器 公告编号：2025-29 贵州航天电器股份有限公司 2025 年第一次临时股东大会决议公告 本公司董事会及全体董事保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 本次股东大会未出现否决提案的情形，也未涉及变更前次股东大会决议。 一、会议召开情况 1.会议召开时间 现场会议时间：2025 年 4 月 8 日下午 2:30 网络投票时间：通过深交所交易系统进行网络投票的时间为 2025 年 4 月 8 日 9:15～9:25，9:30～11:30 和 13:00～15:00；通过深交所互联网投票系统进 行网络投票的时间为 2025 年 4 月 8 日 9:15～15:00。 2.现场会议召开地点：贵州省贵阳市经济技术开发区开发大道 268 号贵州航 天基础件产业园智能研发中心三楼会议室。 3.会议召开方式：现场会议与网络投票相结合 4.会议召集人：公司董事会 5.会议主持人：李凌志先生 6.会议通知：公司于 2025 年 3 月 21 日在《证券时报》《中国证券报》和巨 潮资讯网上刊登《贵州航天电器股份有限公司关于召开 2025 ...

Core Viewpoint - The company reported a significant decline in net profit for 2024, primarily due to a temporary slowdown in demand within the defense industry, but it is optimistic about future recovery and growth opportunities in emerging markets and new industries [2][3]. Financial Performance - In 2024, the company achieved a revenue of 50.25 billion, a year-on-year decrease of 19.08%, and a net profit attributable to shareholders of 3.47 billion, down 53.75% year-on-year [2]. - The gross profit margin for 2024 was 38.34%, reflecting a slight increase of 0.35 percentage points compared to the previous year [2]. Industry Outlook - The defense industry is expected to recover in 2025, with strong demand rebound anticipated as it marks the end of the "14th Five-Year Plan" period, leading to an acceleration in order placements [3]. - The company, as a core upstream component supplier, is positioned to benefit from the anticipated industry turnaround, with projected related sales of 2.2 billion in 2025, representing a 173% increase from 2024 [3]. Strategic Initiatives - The company is actively expanding into strategic emerging industries such as new generation information technology, artificial intelligence, and renewable energy, with 30 key research projects and 40 major industrialization projects initiated in 2024 [4]. - Ongoing construction projects, including the Huazhong industrial base and new factory facilities, are expected to enhance the company's production capabilities and market competitiveness [4]. Profit Forecast - The company is projected to see a rebound in performance, with estimated revenues of 67.44 billion, 84.11 billion, and 99.71 billion for 2025, 2026, and 2027 respectively, and net profits of 8.05 billion, 9.84 billion, and 11.91 billion for the same years [5].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][11]. Core Views - The defense business is expected to recover, and breakthroughs in emerging key markets are anticipated to lead to a rebound in the company's performance [3][4]. - Revenue projections for 2025-2027 are estimated at 64.00 billion, 78.65 billion, and 93.07 billion respectively, with corresponding net profits of 6.70 billion, 9.08 billion, and 11.56 billion [3][4]. Financial Summary - For 2024, the company is projected to achieve revenue of 50.25 billion, a decrease of 19.08% year-on-year, and a net profit of 3.47 billion, down 53.75% year-on-year [7]. - Earnings per share (EPS) for 2024 is expected to be 0.76 yuan, with a price-to-earnings (P/E) ratio of 63.89 [2][3]. - The gross margin for 2024 is projected at 38.34%, reflecting a slight increase of 0.90 percentage points year-on-year [5][6]. Revenue and Profit Forecast - The company anticipates a significant recovery in revenue and net profit from 2025 onwards, with net profit expected to grow by 92.97% in 2025 and 35.54% in 2026 [2][3]. - The projected EPS for 2025 and 2026 are 1.47 yuan and 1.99 yuan respectively, with corresponding P/E ratios of 37.55 and 27.70 [2][3]. Market Position and Strategy - The company is focusing on increasing investment in technological innovation and new product development, particularly in emerging industries such as telecommunications, commercial aerospace, and new energy [4][5]. - The report highlights the company's efforts to optimize its industrial structure and improve market share in strategic new industries [4].

Core Viewpoint - The legal opinion letter from Beijing Zhonglun Law Firm confirms the compliance of Guizhou Aerospace Electric Co., Ltd.'s 2022 restricted stock incentive plan's repurchase and cancellation of certain restricted stocks, ensuring it adheres to relevant laws and regulations [1][5][6]. Group 1: Legal Framework and Compliance - The legal opinion is based on the review of the 2022 restricted stock incentive plan, performance assessment methods, and relevant board and supervisory committee documents [1][2]. - The law firm asserts that the documents provided are authentic, accurate, and complete, and that there are no false records or misleading statements [2][5]. - The repurchase plan has received necessary approvals and is in line with the Management Measures for Incentive Plans and the company's articles of association [3][5]. Group 2: Repurchase Details - The company plans to repurchase and cancel a total of 1,377,322 shares of restricted stock from 240 incentive recipients at a price of 45.62 yuan per share due to unmet performance conditions and one individual's departure [4][6]. - The repurchase will be funded entirely by the company's own funds, ensuring no harm to the company's or shareholders' interests [4][6]. - The repurchase will lead to a reduction in the company's registered capital, which will require compliance with legal procedures for capital reduction and share cancellation [5][6]. Group 3: Conclusion and Next Steps - The law firm concludes that the repurchase plan is legally compliant and that the company must follow up with necessary legal procedures and timely information disclosure [5][6]. - The legal opinion letter is effective upon signing and stamping by the law firm [7].