证券日报网1月23日讯，国机精工（002046）在接受调研者提问时表示，公司在航天领域具有很强的竞 争力，且因航天轴承应用工况特殊、技术壁垒和市场门槛高，对可靠性要求高，短期内竞争相对有序， 但长期来看不排除竞争加剧的情形。 ...

证券日报网1月23日讯，国机精工（002046）在接受调研者提问时表示，公司具备高温高压法和微波等 离子体化学气相沉积法(MPCVD)合成金刚石技术。高温高压法的设备为六面顶压机，产品主要用于工 业磨料、培育钻石；化学气相沉积法(MPCVD)的下游应用按可能的产业化时间划分，可分三阶段：第 一阶段为培育钻石毛坯产品，该阶段产品已成熟；第二阶段为金刚石散热片、光学窗口片、声学膜等， 目前正处于萌芽期；第三阶段为替代硅的芯片级半导体材料，尚需比较长的时间。 ...

证券日报网1月23日讯，国机精工（002046）在接受调研者提问时表示，公司高端装备业务的产品包括 加工轴承的磨床、超精机、冷碾机，轴承检测仪器和试验机，合成金刚石的六面顶压机、微波等离子体 化学气相沉积设备，以及混料仪、粉末冶金加工装备等。 ...

证券日报网1月23日讯 ，国机精工在接受调研者提问时表示，超硬材料业务在国机金刚石公司平台运 营，国机精工持有其67%股份，河南省新材料集团持有33%，未来产业按"一中心三产业园"布局：一中 心：以三磨所为主体的研发中心加中试基地，聚焦研发与中试；三产业园：一是超硬材料磨具产业园， 位于郑州市高新区，规划建设专门的超硬材料磨具产业园。二是金刚石长晶产业园，布局在新疆哈密， 主要进行金刚石合成。三是金刚石相关装备产业园，位于郑州市荥阳市，用于生产高压装备、气相沉积 装备、混料装备、烧结装备等。 （文章来源：证券日报） ...

Core Viewpoint - The diamond industry is currently divided into two main applications: structured applications and functional applications, with functional applications gaining attention due to the high heat dissipation demands driven by artificial intelligence [2] Industry Summary - The functional applications of diamonds include heat sinks and optical window pieces, with potential future applications in chip manufacturing, although it is still in the early stages of industrialization [2] - The demand for diamonds is expected to shift from being an optional material to a necessary one due to the advancements in artificial intelligence [2] Company Summary - The company has been focusing on the functional application of diamonds since 2015, choosing the MPCVD method for its high-quality diamond production and strong compatibility with various product lines [2] - The company began generating revenue from heat sinks and optical windows in 2023, with expectations to exceed 10 million yuan by 2025, primarily in non-civilian sectors [2] - Civilian applications are currently in the testing phase by leading domestic manufacturers, with test results anticipated by 2026 if progress continues smoothly [2]

Core Viewpoint - The company has integrated its robot bearing business into the key development plan for the 14th Five-Year Plan period, focusing on high-value-added products and emerging application markets [1] Group 1: Business Focus - The company will concentrate on cross-roller bearings, thin-walled bearings, and angular contact bearings as part of its strategic focus [1] - The company aims to actively expand into the humanoid robot market and other emerging application areas [1] Group 2: Competitive Advantage - The company possesses strong competitiveness in the commercial aerospace bearing sector, leveraging long-term technological barriers and reliability advantages accumulated in the aerospace field [1] - The company continues to serve the key equipment supply needs of the national aerospace sector [1]

Company Overview - The history of Guoji Precision Engineering dates back to 1958 with the establishment of the Luoyang Bearing Research Institute and Zhengzhou Abrasives Research Institute, and it was listed on the Shenzhen Stock Exchange in 2005 [2][3] - The company focuses on precision manufacturing, driven by technological innovation, providing key products, technologies, and services that meet national strategic needs [2][3] Business Segments and Applications - Guoji Precision operates in five major sectors: new materials, basic components, machine tools, high-end equipment, and supply chain management, with applications in aerospace, military, electronics, renewable energy, high-end machine tools, and automotive industries [2][3] - The company has a strong technological innovation capability, with over 2,400 research achievements and 1,076 national and industry standards established since its inception [3] Financial Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 2.296 billion, a year-on-year increase of 27%, primarily driven by the growth in wind power bearing business [3][4] - Gross profit totaled CNY 797 million, a 20% increase year-on-year, while net profit reached CNY 245 million, up 15.4% from the previous year [3][4] Business Highlights Bearing Business - The special bearing segment has shown steady growth, contributing significantly to profit, with a 90% supply rate for key products in aerospace applications [4] - The wind power bearing business has been a major growth driver, with successful development of high-capacity products [4] Abrasives Business - The superhard materials segment continues to grow, with significant advancements in technology and market position, including the development of high-efficiency processing tools for the semiconductor industry [5] - The company has achieved breakthroughs in diamond functional applications, which are expected to become a new source of profit [5] Strategic Focus and Future Outlook - The company aims to consolidate its existing advantages in bearings and abrasives while exploring new high-growth areas, including commercial aerospace and humanoid robotics [8] - A long-term shareholder return plan is in place, targeting a dividend payout ratio of no less than 40% [8][9] - The company emphasizes transparency in governance and investor relations to enhance value recognition among stakeholders [9] Innovation and Talent Development - Guoji Precision is enhancing its R&D capabilities through an integrated system that combines research institutes and industrial units [6] - The company has a robust talent development framework, with over 800 technical personnel, including 700 with master's degrees or higher [7]

Group 1 - The company held its first extraordinary general meeting of shareholders in 2026 on January 21, with no resolutions being rejected [1][2] - The meeting was attended by 591 shareholders and their representatives, representing a total of 269,082,879 shares, which is 50.1771% of the company's total shares [4] - The meeting adopted a combination of on-site and online voting methods [3] Group 2 - The shareholders approved a resolution regarding the repurchase and cancellation of certain restricted stocks from the 2022 incentive plan, with 99.9670% of the votes in favor [8] - The company plans to repurchase and cancel a total of 75,981 restricted stocks due to the departure of several employees [11] - Following the repurchase, the company's total share capital will decrease from 536,266,835 shares to 536,190,854 shares, and the registered capital will reduce from RMB 536,266,835 to RMB 536,190,854 [12] Group 3 - The company has notified creditors about the reduction in registered capital due to the stock repurchase, allowing them to claim debts within 45 days from the announcement [12] - Creditors can submit their claims from January 22 to March 7, 2026, at the company's office [12][13] - The company has provided specific instructions for creditors on how to submit their claims, including required documentation [13][14]

Core Conclusion - By 2026, China's commercial aerospace industry is expected to reach a turning point in cost reduction for launch capacity, driven by the concentrated deployment of low Earth orbit (LEO) constellations and the normalization of high-frequency launches, with reusable rockets nearing breakthroughs in reducing unit launch costs. The industry's business model will shift from state-driven tasks to market-driven profitability, with a valuation logic transitioning towards "space infrastructure" as application scenarios and business models are restructured [3]. Market Outlook - 2026 is anticipated to be a prosperous year for China's commercial aerospace sector, with an accelerated pace of multi-constellation launches transitioning to large-scale deployment, leading to a rapid increase in rocket launch frequency. The commercial rocket launch service market in China is projected to grow from 10.26 billion yuan in 2025 to 47.39 billion yuan by 2030, corresponding to a CAGR of approximately 35.8%, primarily driven by high-frequency launch demand from dense deployment of LEO constellations [4][11]. - The industry is expected to maintain medium to long-term growth, with over 237,000 satellites needing to be deployed in accordance with ITU regulations by 2039. Starlink currently has over 9,000 satellites in orbit, and the demand for subsequent launches remains robust due to tightening frequency resources [4][11]. Cost Reduction Pathways - The essence of commercial rockets is a "space logistics" business, where core variables include efficiency improvements and cost reductions in launch capacity. Key pathways for cost reduction include breakthroughs in full-flow engine technology, high-frequency reuse capabilities, and industrialization in manufacturing [5]. - The unit cost of launching rockets is expected to decrease significantly through various stages: 1. Initial launch cost is approximately 55,000 yuan/kg 2. By around 2026, after achieving first-stage reuse, costs may drop to about 25,000 yuan/kg 3. Upgrading from aluminum to stainless steel structures could further reduce costs to approximately 19,000 yuan/kg 4. With the maturation of recovery methods, costs may decline to around 13,000 yuan/kg 5. Long-term, achieving second-stage reuse could bring costs close to 5,000 yuan/kg [5]. Industry Structure and Investment Opportunities - The commercial rocket industry is still in its early growth and valuation evolution phase. Key catalysts for valuation uplift in China's commercial aerospace sector include the realization of reusable rockets for large-scale LEO satellite networking and the transition from customized to standardized launches through long-term batch tasks [7][8]. - The valuation logic for commercial aerospace companies is shifting from manufacturing-oriented to platform and infrastructure-oriented technology enterprises, covering diverse long-term space mission needs such as manned flights and deep space exploration [8]. Key Players and Market Segments - The core technical barriers in rocket engines are concentrated in critical components such as thrust chambers and turbine pumps. The value in satellite manufacturing is primarily found in communication payloads [9]. - Key companies involved in the aerospace supply chain include: - Power Systems: Yingliu Co., Srey New Materials, Guoji Precision Engineering - Satellite Communication Systems: Shanghai Hantong, Aerospace Electronics, Guobo Electronics - Materials and Structural Components: Western Materials, Parker New Materials, Guoji Heavy Industry, Huazhuo High-Tech - Testing and Verification: Xicai Testing, Su Testing [9][10].

国机精工集团股份有限公司 关于回购注销部分限制性股票减少注册资本 证券代码：002046 证券简称：国机精工 公告编号：2026-007 本次回购注销完成后，公司股本总额将由 536,266,835 股调整为 536,190,854 股，注册资本将由人民币 536,266,835 元减少至人民币 536,190,854 元。 二、需要债权人知晓的信息 公司本次回购注销部分限制性股票将导致公司注册资本减少，根 据《中华人民共和国公司法》等相关法律法规的规定，本公司债权人 自本公告披露之日起四十五日内，凭有效债权证明文件及凭证向公司 要求清偿债务或提供相应担保。债权人未在规定期限内行使上述权利 的，不会因此影响其债权的有效性，相关债务（义务）将由公司根据 原债权文件的约定继续履行。 债权人可采取现场、信函方式进行申报，具体申报方式如下： 1、申报时间：2026 年 1 月 22 日至 2026 年 3 月 7 日 2、现场申报登记地点及申报材料寄送地址：河南省郑州市新材 料产业园区科学大道 121 号国机精工集团股份有限公司董事会办公 室 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、完 ...