[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%201.%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, the report's structural overview, and definitions of key terms used throughout the document [Important Notice](index=2&type=section&id=Important%20Notice) The company's board and management guarantee the report's accuracy, while acknowledging negative financial performance in 2024 and a disclaimer of opinion, triggering delisting risk warnings - The company's **2024 annual operating revenue was 291.291 million yuan**, with **288.2253 million yuan after deductions**, **net profit attributable to shareholders was -46.1147 million yuan**, and **net profit after deducting non-recurring gains and losses was -58.3677 million yuan**[3](index=3&type=chunk) - Rongcheng Certified Public Accountants issued a **disclaimer of opinion on the company's 2024 financial report**, leading to the **implementation of delisting risk warnings** for the company's stock trading[3](index=3&type=chunk) - The company's **2025 semi-annual operating revenue was 23.4762 million yuan**, with **22.3237 million yuan after deductions**[4](index=4&type=chunk) - If the company's 2025 audited total profit, net profit, or net profit after deducting non-recurring gains and losses is negative (whichever is lower), and the operating revenue after deductions is **below 300 million yuan**, the company's shares will be terminated from listing[5](index=5&type=chunk)[11](index=11&type=chunk) - The company plans **not to distribute cash dividends, bonus shares, or convert capital reserves into share capital**[12](index=12&type=chunk) [Table of Contents](index=5&type=section&id=Table%20of%20Contents) This report's directory clearly outlines nine main chapters, covering important notices, company profile, management discussion and analysis, corporate governance, significant events, share changes, bond information, financial reports, and other submitted data, along with a list of reference documents - The report comprises **nine main chapters**, ranging from important notices to financial reports and a list of reference documents[14](index=14&type=chunk)[15](index=15&type=chunk) [Definitions](index=7&type=section&id=Definitions) This section defines common terms used in the report, including company names, regulatory bodies, communication technologies, information technology, audio-visual, multi-mode integrated tablet terminals, metal materials, and the reporting period, ensuring reader comprehension - Definitions cover the company, regulatory bodies, communication technologies (LTE, 3G), informatization, audio-visual, multi-mode integrated tablet terminals, and terminals[18](index=18&type=chunk) - Metal product terms include Wuxi Donghexin, Tianjin Donghexin, Dongtai Donghexin, Shanghai Donghexin, Dajiang Metal, Shanghai Tianji, Wuxi Lianghong, hot-rolled coil, cold-rolled hard coil, substrate, tinplate, and chrome-plated coil[18](index=18&type=chunk) - The **reporting period is defined as January 1, 2025, to June 30, 2025**[18](index=18&type=chunk) [Company Profile and Key Financial Indicators](index=8&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information, contact details, and a summary of its key accounting data and financial indicators for the reporting period [I. Company Profile](index=8&type=section&id=I.%20Company%20Profile) The company, known as *ST Allwin Telecom, stock code 002231, is listed on the Shenzhen Stock Exchange, with Du Fang as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | *ST Allwin Telecom | | Stock Code | 002231 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | Allwin Telecom Co., Ltd. | | Legal Representative | Du Fang | [II. Contact Persons and Information](index=8&type=section&id=II.%20Contact%20Persons%20and%20Information) The company's Board Secretary is Bai Lihai, with Liu Dacheng and Bi Ying as Securities Affairs Representatives, all reachable at Shenyang Hunnan New District, Gaoge Road No. 6, via phone 024-83782200 or email bailihai@allwintelecom.com Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Bai Lihai | No. 6 Gaoge Road, Hunnan New District, Shenyang | 024-83782200 | 024-83782200 | bailihai@allwintelecom.com | | Securities Affairs Representative | Liu Dacheng, Bi Ying | No. 6 Gaoge Road, Hunnan New District, Shenyang | 024-83782200 | 024-83782200 | bailihai@allwintelecom.com | [III. Other Information](index=8&type=section&id=III.%20Other%20Information) During the reporting period, there were no changes to the company's registered address, office address, website, email, information disclosure platforms, or semi-annual report availability, with details available in the 2024 annual report - The company's registered address, office address, website, and email remained **unchanged** during the reporting period[22](index=22&type=chunk) - Information disclosure and storage locations remained **unchanged** during the reporting period[23](index=23&type=chunk) - Other relevant information saw **no changes** during the reporting period[24](index=24&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's key financial indicators for the first half of 2025 significantly declined year-on-year, with operating revenue down 88.81%, net profit attributable to shareholders down 1437.32%, and weighted average return on net assets worsening by 37.74 percentage points Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (yuan) | Prior Period (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 23,476,179.49 | 209,743,208.11 | -88.81% | | Net Profit Attributable to Shareholders | -89,066,868.76 | -5,793,644.33 | -1,437.32% | | Net Profit Attributable to Shareholders After Deducting Non-Recurring Gains and Losses | -75,749,424.24 | -11,897,593.98 | -536.68% | | Net Cash Flow from Operating Activities | -47,761,463.38 | -81,662,967.40 | 41.51% | | Basic Earnings Per Share (yuan/share) | -0.2568 | -0.0167 | -1,437.72% | | Diluted Earnings Per Share (yuan/share) | -0.2568 | -0.0167 | -1,437.72% | | Weighted Average Return on Net Assets | -39.59% | -1.85% | -37.74% | | Indicator | Current Period End (yuan) | Prior Year End (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Assets | 366,166,713.18 | 512,559,807.82 | -28.56% | | Net Assets Attributable to Shareholders | 180,454,515.82 | 269,521,384.58 | -33.05% | [V. Differences in Accounting Data Under Domestic and International Accounting Standards](index=9&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20International%20Accounting%20Standards) During the reporting period, the company reported no differences in net profit and net assets between financial statements prepared under international or overseas accounting standards and those prepared under Chinese accounting standards - During the reporting period, the company reported **no differences in net profit and net assets** between financial statements disclosed under international accounting standards and Chinese accounting standards[26](index=26&type=chunk) - During the reporting period, the company reported **no differences in net profit and net assets** between financial statements disclosed under overseas accounting standards and Chinese accounting standards[27](index=27&type=chunk) [VI. Non-Recurring Gains and Losses and Amounts](index=9&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) The company's total non-recurring gains and losses for the reporting period amounted to -13.31744452 million yuan, primarily influenced by non-current asset disposal losses, government subsidies, capital occupation fees, and a significant increase in non-operating expenses due to the illegal disposal of inventory Non-Recurring Gains and Losses and Amounts | Item | Amount (yuan) | Explanation | | :--- | :--- | :--- | | Gains/losses on disposal of non-current assets | -101,977.99 | | | Government subsidies recognized in current profit/loss | 10,000.00 | | | Capital occupation fees received from non-financial enterprises recognized in current profit/loss | 3,530,203.94 | | | Other non-operating income and expenses apart from the above | -24,272,341.78 | Due to illegal disposal of inventory stored at entrusted processor Dajiang Metal during the reporting period | | Impact on minority interests (after tax) | -7,516,671.31 | | | Total | -13,317,444.52 | | - The company has **no other profit or loss items that meet the definition of non-recurring gains and losses**, nor does it classify non-recurring gains and losses as recurring items[30](index=30&type=chunk) [Management Discussion and Analysis](index=11&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section analyzes the company's primary business operations, core competencies, financial performance, non-operating activities, asset and liability status, investment activities, and the risks and countermeasures it faces [I. Principal Businesses Engaged in by the Company During the Reporting Period](index=11&type=section&id=I.%20Principal%20Businesses%20Engaged%20in%20by%20the%20Company%20During%20the%20Reporting%20Period) The company primarily operates in communication equipment manufacturing and metal products, with the former benefiting from defense spending and digitalization, and the latter facing innovation challenges in high-end, low-carbon, and intelligent manufacturing [1. Industry Development Status](index=11&type=section&id=1.%20Industry%20Development%20Status) The communication equipment manufacturing industry is driven by national digital economy plans and steady growth in defense spending, while the metal products industry, despite revenue and profit growth, faces innovation challenges in technology, green practices, and intelligent manufacturing - The communication equipment manufacturing industry benefits from the "14th Five-Year Plan" for digital economy development and increased defense spending, with **defense expenditure growing by 7.2% in 2025**, indicating **broad prospects for military communication equipment**[32](index=32&type=chunk) - The metal products industry saw **operating revenue grow by 1.9%** and **total profit grow by 7%** from January to June 2025, but industry competition has shifted towards "technology + green + scenario" innovation[33](index=33&type%3Dchunk) [2. Main Business, Products, or Services](index=11&type=section&id=2.%20Main%20Business%2C%20Products%2C%20or%20Services) The company's communication equipment business offers audio-visual systems, domestically controlled equipment, and specialized network devices for defense, while its metal products business, through Wuxi Donghexin, produces tinplate, cold-rolled hard coils, and substrates for metal packaging - Communication equipment manufacturing primarily offers **audio-visual systems, domestically controlled equipment, individual soldier informatization equipment, and private network mobile broadband devices**, providing solutions for audio-visual command, wireless broadband systems, and smart camps, with a focus on **defense applications**[34](index=34&type=chunk)[35](index=35&type=chunk) - The metal products business, primarily through Wuxi Donghexin, produces **tinplate, cold-rolled hard coils, and substrates**, used in metal packaging containers for food, beverages, and chemicals[36](index=36&type=chunk) [3. Main Business Model](index=12&type=section&id=3.%20Main%20Business%20Model) The communication equipment manufacturing segment primarily operates on a bid-and-tender basis, producing customized products based on sales orders with strict procurement, while the metal products segment sells processed products to can manufacturing and packaging enterprises - The communication equipment manufacturing segment largely adopts a **bid-and-tender model**, producing **customized products based on sales orders**, with a well-developed procurement management and control system[37](index=37&type=chunk) - The metal products segment primarily sells processed products such as **tinplate, cold-rolled hard coils, and substrates** to downstream can manufacturing, packaging enterprises, and their suppliers[38](index=38&type=chunk) [II. Analysis of Core Competencies](index=12&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies stem from its product process and technological advantages (SMT, next-generation wireless communication, audio-visual integration), qualifications and honors (multiple engineering qualifications, national intellectual property advantage enterprise, specialized and sophisticated "little giant"), independent R&D and innovation, and robust quality management and service - The company's product process and technological advantages are reflected in **SMT, painting, injection molding, and aluminum casting processes**, as well as **next-generation wireless communication technology, multimedia cluster technology, independently controllable wired network security technology, and audio-visual fusion communication technology**[39](index=39&type=chunk) - The company holds multiple qualifications, including **"Communication Engineering General Contracting Grade II"**, and has been recognized as a **National Intellectual Property Advantage Enterprise**, a typical substantive industry-university-research alliance in Liaoning Province, a municipal wireless synchronous self-organizing sensor network technology innovation center, a high-tech enterprise, and a specialized and sophisticated "little giant" enterprise[40](index=40&type=chunk)[41](index=41&type=chunk) - The company possesses the capability for continuous research into new technologies and products, holding **13 authorized patents and 86 software copyrights**[42](index=42&type=chunk) - The company has obtained **ISO9001 Quality Management System, ISO14001 Environmental Management System, ISO45001 Occupational Health and Safety certifications**, and the **Integration of Informatization and Industrialization Management System assessment**[43](index=43&type=chunk) [III. Analysis of Principal Business](index=13&type=section&id=III.%20Analysis%20of%20Principal%20Business) The company's principal business experienced a significant year-on-year decline, with operating revenue down 88.81% and operating costs down 83.60%, primarily due to subsidiary shutdowns and a downturn in communication business, despite growth in military informatization and network optimization solutions Year-on-Year Changes in Key Financial Data | Indicator | Current Period (yuan) | Prior Period (yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 23,476,179.49 | 209,743,208.11 | -88.81% | Mainly due to subsidiary shutdowns and a decline in communication business during the reporting period | | Operating Cost | 33,212,557.60 | 202,568,976.93 | -83.60% | Mainly due to subsidiary shutdowns and a decline in communication business during the reporting period | | Administrative Expenses | 17,328,243.32 | 12,469,780.13 | 38.96% | Mainly due to increased professional service consulting fees and severance benefits during the reporting period | | Financial Expenses | -3,398,758.34 | -2,627,106.64 | -29.37% | Mainly due to accrued interest income from capital occupation during the reporting period | | R&D Investment | 1,659,841.83 | 4,256,542.32 | -61.00% | Mainly due to reduced R&D investment during the reporting period | | Net Cash Flow from Operating Activities | -47,761,463.38 | -81,662,967.40 | 41.51% | Mainly due to reduced cash payments for goods purchased and services received in the metal products business during the reporting period | | Net Cash Flow from Investing Activities | -121,481.95 | 25,849,179.48 | -100.47% | Mainly due to the redemption of wealth management products purchased by the company's subsidiary Wuxi Donghexin in the prior reporting period | | Net Cash Flow from Financing Activities | -426,692.62 | 48,464,801.15 | -100.88% | Mainly due to capital contributions from minority shareholders of the company's subsidiary Wuxi Donghexin in the prior reporting period | | Net Increase in Cash and Cash Equivalents | -48,308,140.95 | -7,338,474.79 | -558.29% | Mainly due to an increase in net cash flow from operating activities and a decrease in net cash flow from investing and financing activities during the reporting period | Composition of Operating Revenue | Category | Current Period Amount (yuan) | Share of Operating Revenue | Prior Period Amount (yuan) | Share of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | | | | | | | Communication Equipment Manufacturing | 6,601,402.33 | 28.12% | 19,696,824.95 | 9.39% | -66.48% | | Metal Products | 15,722,269.18 | 66.97% | 188,614,471.63 | 89.93% | -91.66% | | **By Product** | | | | | | | Military Informatization Products and Solutions | 3,126,527.43 | 13.32% | 2,331,415.60 | 1.11% | 34.10% | | Network Optimization and Coverage Equipment and Solutions | 3,474,874.90 | 14.80% | 994,023.00 | 0.47% | 249.58% | | Tinplate | 2,511,677.00 | 10.70% | 48,883,422.64 | 23.31% | -94.86% | | Cold-Rolled Hard Coil | 13,210,592.18 | 56.27% | 136,339,625.45 | 65.00% | -90.31% | | **By Region** | | | | | | | East China | 16,289,918.44 | 69.39% | 184,758,904.51 | 88.09% | -91.18% | | Central South China | 3,482,462.52 | 14.83% | 623,928.45 | 0.30% | 458.15% | [IV. Analysis of Non-Principal Business](index=15&type=section&id=IV.%20Analysis%20of%20Non-Principal%20Business) Non-principal business activities significantly impacted total profit negatively during the reporting period, with credit impairment losses of 56.2254 million yuan, non-operating expenses of 24.1273 million yuan due to illegal inventory disposal, and asset impairment losses of 2.2252 million yuan, none of which are sustainable Analysis of Non-Principal Business | Item | Amount (yuan) | Share of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Asset Impairment | -2,225,203.26 | 1.97% | Due to inventory impairment provision based on prudence principle during the reporting period | No | | Non-Operating Income | 258,176.67 | -0.23% | Due to collection of late fees during the reporting period | No | | Non-Operating Expenses | 24,127,339.01 | -21.31% | Due to illegal disposal of inventory stored at entrusted processor Dajiang Metal during the reporting period | No | | Credit Impairment Losses | -56,225,431.93 | 49.66% | Due to provision for bad debts from capital occupation during the reporting period | No | [V. Analysis of Assets and Liabilities](index=15&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets decreased by 28.56% year-on-year, and net assets attributable to shareholders decreased by 33.05%, with significant asset restrictions including 56.0236 million yuan in frozen monetary funds and 54.0498 million yuan in restricted inventory Significant Changes in Asset Composition | Item | Current Period End Amount (yuan) | Share of Total Assets | Prior Year End Amount (yuan) | Share of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 69,748,937.81 | 19.05% | 64,801,339.41 | 12.64% | 6.41% | Due to increased collections this year | | Inventory | 89,636,350.31 | 24.48% | 146,101,701.58 | 28.50% | -4.02% | Due to illegal disposal of inventory stored at entrusted processor Dajiang Metal and recognition of shutdown losses during the reporting period | | Right-of-Use Assets | | | 2,672,634.91 | 0.52% | -0.52% | Due to termination of right-of-use assets during the reporting period | | Lease Liabilities | | | 1,807,373.62 | 0.35% | -0.35% | Due to termination of right-of-use assets during the reporting period | | Other Receivables | 115,922,031.06 | 31.66% | 188,559,730.02 | 36.79% | -5.13% | Due to provision for bad debts from capital occupation during the reporting period | Asset Restriction Status | Item | Book Balance (yuan) | Book Value (yuan) | Restriction Type | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 56,023,616.21 | 56,023,616.21 | Frozen | Frozen by court due to contract dispute | | Inventory | 59,667,909.99 | 54,049,763.25 | Restricted Ownership | Wuxi Donghexin has not paid for raw materials, and according to the contract, Wuxi Lianghong has recourse rights; as of the disclosure date, the corresponding inventory is jointly controlled by both parties | | Total | 115,691,526.20 | 110,073,379.46 | — | — | [VI. Analysis of Investment Status](index=16&type=section&id=VI.%20Analysis%20of%20Investment%20Status) During the reporting period, the company made no significant equity, non-equity, securities, or derivative investments, but established a new 75%-owned subsidiary, Donghexin New Material Industry (Tianjin) Co., Ltd., which has not yet generated revenue - During the reporting period, the company had **no significant equity investments, non-equity investments, securities investments, or derivative investments**[53](index=53&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) Significant Equity Investments Acquired During the Reporting Period | Name of Investee Company | Principal Business | Investment Method | Investment Amount (yuan) | Shareholding Ratio | Progress as of Balance Sheet Date | Investment Gain/Loss for Current Period (yuan) | Expected Return (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Donghexin New Material Industry (Tianjin) Co., Ltd. | Production, manufacturing, and sales of tinplate, cold-rolled hard coils, substrates, etc. | Investment Establishment | 0.00 | 75.00% | Business registration completed | 0.00 | 0.00 | [VII. Significant Asset and Equity Sales](index=17&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) During the reporting period, the company did not engage in any significant asset or equity sales - The company **did not sell any significant assets** during the reporting period[58](index=58&type=chunk) - The company **did not sell any significant equity** during the reporting period[59](index=59&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=17&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company's main subsidiary, Wuxi Donghexin New Material Industry Co., Ltd., with a registered capital of 170 million yuan, reported total assets of 191.54 million yuan, net assets of 94.5443 million yuan, operating revenue of 15.8118 million yuan, and a net loss of 70.8289 million yuan, significantly impacting company performance due to production halts and frozen accounts Major Subsidiaries and Participating

Market Overview - The Shanghai Composite Index is at 3781.13 points, above the annual line, with a change of 0.40% [1] - The total trading volume of A-shares is 1,193.158 billion yuan [1] Stocks Breaking Annual Line - A total of 31 A-shares have surpassed the annual line today, with notable stocks including Meihua Medical, *ST Aowei, and Pianzaihuang, showing divergence rates of 14.13%, 2.94%, and 2.77% respectively [1] - Stocks with smaller divergence rates that have just crossed the annual line include China Wuyi, Huilun Crystal, and Zhuoshengwei [1] Top Stocks by Divergence Rate - Meihua Medical (301363) has a significant increase of 17.30% with a turnover rate of 23.04% and a divergence rate of 14.13% [1] - *ST Aowei (002231) increased by 3.12% with a turnover rate of 7.79% and a divergence rate of 2.94% [1] - Pianzaihuang (600436) rose by 3.70% with a turnover rate of 1.03% and a divergence rate of 2.77% [1] Additional Notable Stocks - Tongrentang (600085) increased by 1.93% with a divergence rate of 1.77% [1] - Maire Medical (300760) rose by 3.40% with a divergence rate of 1.53% [1] - Other stocks with minor divergence rates include Aima Technology (603529) and China Railway Construction (601186) with divergence rates of 1.06% and 0.96% respectively [1]

针对公司股票交易异常波动，公司对有关事项进行了核实，现就相关情况说 明如下： 证券代码：002231 证券简称：*ST 奥维 公告编号：2025-056 奥维通信股份有限公司 股票交易异常波动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况 奥维通信股份有限公司（以下简称"公司"）股票（证券简称：*ST 奥维，证 券代码：002231）交易价格于 2025 年 8 月 15 日至 2025 年 8 月 19 日连续 3 个交 易日收盘价格涨跌幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》的 有关规定，属于股票交易异常波动的情况。 二、公司关注、核实相关情况 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司近期未发现公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3、近期公司经营情况及内外部经营环境未发生重大变化。 4、经核查，公司及控股股东、实际控制人不存在关于公司的应披露而未披 露的重大事项。 5、经核查，公司控股股东、实际控制人及其一致行动人在股票异常波动期 间不存在买卖公 ...

Group 1 - The defense and military industry index experienced a slight increase of 0.15% over the week from August 9 to August 16, 2025, ranking 21 out of 31 in the Shenwan first-level industry classification [7][12] - Over the past month, the industry index rose by 11.17%, ranking 5 out of 31 [10][14] - In the past year, the index has increased by 46.85%, ranking 11 out of 31 [14][15] Group 2 - The current PE-TTM for the defense and military industry is 90.20, which is at the 77.77 percentile compared to the past ten years, indicating a relatively high valuation level [15][46] - The performance of individual stocks in the defense and military sector showed significant variation, with the top performers being Fenghuo Electronics (38.73%), Feilihua (30.81%), and Aowei Communication (18.03%) [19][29] - Conversely, the worst performers included Qiyi Er (-5.82%), Xice Testing (-6.00%), and Zhongguang Optical (-6.06%) [19][29] Group 3 - Key industry data indicates that the price of sponge titanium is currently 50 RMB/kg, unchanged from the previous week, but up 11.11% from a month ago [30][34] - The LME nickel spot settlement price is currently 14,910 USD/ton, reflecting a 0.17% increase from the previous week but a 7.85% decrease from a year ago [30][34] - The price of domestic acrylonitrile is 8,250 RMB/ton, down 1.20% from the previous week but up 3.13% from a year ago [34][36] Group 4 - Recent industry news includes the successful first tethered ignition test of the Long March 10 rocket and the successful launch of the satellite internet low-orbit 08 group satellites [44][45] - The defense trade market is expected to expand due to escalating geopolitical conflicts, with a focus on military trade, unmanned equipment, commercial aerospace, low-altitude economy, and military AI as key investment themes [46]

股票交易异常波动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况 奥维通信股份有限公司（以下简称"公司"）股票（证券简称：*ST 奥维，证 券代码：002231）交易价格于 2025 年 8 月 12 日至 2025 年 8 月 14 日连续 3 个交 易日收盘价格涨跌幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》的 有关规定，属于股票交易异常波动的情况。 二、公司关注、核实相关情况 证券代码：002231 证券简称：*ST 奥维 公告编号：2025-055 奥维通信股份有限公司 1 针对公司股票交易异常波动，公司对有关事项进行了核实，现就相关情况说 明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司近期未发现公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3、近期公司经营情况及内外部经营环境未发生重大变化。 4、经核查，公司及控股股东、实际控制人不存在关于公司的应披露而未披 露的重大事项。 5、经核查，公司控股股东、实际控制人及其一致行动人在股票异常波动期 间不存在买 ...

Core Viewpoint - The article highlights the increasing instances of illegal share reductions by major shareholders in listed companies, emphasizing the need for stricter regulations to restore investor confidence and maintain market integrity [1][5]. Group 1: Instances of Illegal Share Reductions - Over 60 listed companies have announced illegal share reductions by shareholders this year, with violations including breach of commitments and failure to disclose [1]. - Notable cases include shareholders of Anbiping and Jiuliang Co. engaging in illegal reductions due to calculation errors and failure to disclose plans, amounting to approximately 28.77 million yuan and 2.009 million yuan respectively [2][3]. - The case of Guo Zilong from Jiuliang Co. is highlighted, where he reduced shares below the IPO price, violating his commitment [3]. Group 2: Regulatory Response - Regulatory bodies have intensified their crackdown on illegal share reductions, with over 50 companies facing penalties or regulatory actions this year [5][6]. - A logistics company's controlling shareholder was publicly reprimanded for failing to disclose a reduction plan, having sold 53.18 million shares, amounting to 264 million yuan [6]. - The Shenzhen Stock Exchange imposed trading restrictions on shareholders involved in illegal reductions, aiming to uphold market order and protect minority investors [7]. Group 3: Motivations Behind Illegal Reductions - Major shareholders often possess information advantages, allowing them to exploit market conditions for profit through illegal reductions [4]. - The potential for significant financial gain serves as a strong motivation for these shareholders to engage in such practices [4]. Group 4: Market Impact - The prevalence of illegal share reductions undermines the image of companies and their management, negatively affecting investor confidence in the secondary market [1][5]. - Stricter regulations are seen as essential for creating a transparent and orderly market environment, which is crucial for attracting long-term investments [7].

New Stock Issuance - Hongyuan Co., Ltd. (stock code: 920018) issued shares at a price of 9.17 on August 11, 2025[1] - China Shipbuilding Industry Corporation (stock code: 600150) has a cash acquisition request period from August 13 to August 15, 2025[1] - ST Kelly (stock code: 300326) has a tender offer period from July 17 to August 15, 2025[1] Rights and Announcements - China Heavy Industry (stock code: 601989) has a cash option declaration period starting August 13, 2025[1] - Fushun Special Steel (stock code: 600399) has a tender offer period from August 12 to September 10, 2025[1] - North Long Dragon (stock code: 301357) has an announcement link for further details[1] Market Volatility - Several stocks, including ST Xifa (stock code: 000752) and ST Aowei (stock code: 002231), are under observation for significant price fluctuations[1] - The report highlights abnormal fluctuations in stocks such as ST Songfa (stock code: 603268) and ST Yancheng (stock code: 603063)[2]

Group 1 - The company's stock, *ST Aowei (002231), experienced abnormal trading fluctuations, with a cumulative price deviation exceeding 12% over three consecutive trading days from August 6 to August 8, 2025 [2] - The company confirmed that there were no significant changes in its operational situation or external environment that could have impacted the stock price [2][4] - The company and its major shareholders did not engage in any stock trading activities during the period of abnormal fluctuations [3] Group 2 - The board of directors confirmed that there are no undisclosed significant matters that should have been disclosed according to the Shenzhen Stock Exchange regulations [4] - The company reiterated its commitment to comply with information disclosure obligations and will continue to provide timely updates [5] - The company has not identified any need to amend its half-year performance forecast disclosed on July 15, 2025 [5]

Group 1 - The company's stock, *ST Aowei (002231), experienced abnormal trading fluctuations, with a cumulative price deviation exceeding 12% over three consecutive trading days from August 6 to August 8, 2025 [1] - The company conducted verification regarding the abnormal trading situation and confirmed that there are no undisclosed significant matters affecting the stock price [1] - The board of directors stated that there are no undisclosed matters that should be disclosed according to the Shenzhen Stock Exchange listing rules, and previous disclosures do not require correction or supplementation [1]

证券代码：002231 证券简称：*ST 奥维 公告编号：2025-054 奥维通信股份有限公司 股票交易异常波动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 3、近期公司经营情况及内外部经营环境未发生重大变化。 一、股票交易异常波动的情况 奥维通信股份有限公司（以下简称"公司"）股票（证券简称：*ST 奥维，证 券代码：002231）交易价格于 2025 年 8 月 6 日至 2025 年 8 月 8 日连续 3 个交易 日收盘价格涨跌幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》的有 关规定，属于股票交易异常波动的情况。 二、公司关注、核实相关情况 针对公司股票交易异常波动，公司对有关事项进行了核实，现就相关情况说 明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司近期未发现公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 4、经核查，公司及控股股东、实际控制人不存在关于公司的应披露而未披 露的重大事项。 5、经核查，公司控股股东、实际控制人及其一致行动人在股票异常波动期 间不存在买卖公司股 ...