Meeting Overview - The company held its third extraordinary general meeting of shareholders on August 20, 2025, with network voting available from September 5, 2025, 9:15 AM to 3:00 PM [1] - A total of 16,206,803 shares were represented at the meeting, accounting for 2.1890% of the total shares [1] Attendance and Voting - Two shareholders attended the meeting in person, representing 991,920 shares (0.1340% of total shares) [1] - 449 shareholders participated via network voting, representing 15,214,883 shares (2.0551% of total shares) [1][2] Resolutions Passed - **Resolution 1**: Proposal for asset sale and related party transactions - Votes in favor: 15,661,044 shares (96.6325%) - Votes against: 367,259 shares (2.2661%) - Abstentions: 178,500 shares (1.1014%) [2][3] - **Resolution 2**: Proposal to increase the annual limit for related party transactions for 2025 - Votes in favor: 15,718,544 shares (96.9873%) - Votes against: 334,259 shares (2.0625%) - Abstentions: 154,000 shares (0.9502%) [3] Legal Opinion - The lawyers from Beijing Zhonglun Wende Law Firm confirmed that the meeting's procedures, attendance qualifications, and voting processes complied with relevant laws and regulations, deeming the results valid [3][4]

北京市朝阳区建国路 79 号华贸中心 2 号写字楼 28 楼 (邮编 100025) 电话：(86-10)8567 3688 传真：(86-10) 6440 2915 网址：www.zhonglunwende.com 北京市中伦文德律师事务所 关于北京合众思壮科技股份有限公司 2025 年第三次临时股东大会的法律意见书 致：北京合众思壮科技股份有限公司 北京市中伦文德律师事务所（以下简称"本所"）接受北京合众思壮科技股份有 限公司（以下简称"公司"）委托，委派本所律师出席公司 2025 年第三次临时股东大 会（以下简称"本次股东大会"），并根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》、《上市公司股东会规则》（以下简称"《股 东会规则》"）、《深圳证券交易所上市公司股东会网络投票实施细则》（以下简 称"《网络投票实施细则》"）等现行法律、法规、规范性文件和《北京合众思壮 科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，对本次股东大 会的召集、召开程序、出席会议人员的资格、召集人资格、表决程序、表决结果出 具法律意见书。 为出具本法律意见书，本所律师审查了公司本 ...

证券代码：002383 证券简称：合众思壮 公告编号：2025-045 北京合众思壮科技股份有限公司 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、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更前次股东大会决议。 一、会议召开和出席情况 北京合众思壮科技股份有限公司于 2025 年 8 月 20 日在《中国证券报》《证 券时报》和巨潮资讯网披露公司《关于召开 2025 年第三次临时股东大会的通知》 等相关文件，会议召开的具体情况如下： 1、召集人：董事会 2、表决方式：现场记名投票、网络投票 3、现场会议召开时间：2025 年 9 月 5 日（星期五）下午 14:30 网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 9 月 5 日（星期五）上午 9:15-9:25，9:30—11:30 和下午 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 5 日（星期 五）上午 9:15 至下午 15:00 期间的任意 ...

Market Overview - The Shanghai Composite Index closed at 3813.56 points, with a decline of 1.16% [1] - The total trading volume of A-shares reached 23956.82 billion yuan [1] Technical Analysis - A total of 16 A-shares experienced a crossover where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Sichuang Medical (300078) with a distance of -0.91% - Nanmo Biology (688265) with a distance of -0.80% - Shandong Weida (002026) with a distance of -0.75% [1] Individual Stock Performance - Sichuang Medical (300078) saw a decrease of 2.81% with a trading turnover rate of 3.15% [1] - Nanmo Biology (688265) decreased by 0.16% with a turnover rate of 1.39% [1] - Shandong Weida (002026) declined by 2.93% with a turnover rate of 2.90% [1] - Qingda Environmental (688501) dropped by 3.86% with a turnover rate of 1.84% [1] - Pulit (002324) fell by 2.62% with a turnover rate of 2.03% [1] - Other notable declines include: - Meili (000815) down by 4.03% - Hezhong (002383) down by 6.95% [1]

Core Viewpoint - The company, Hezhong Shizhuang, has shown significant trading activity and financial performance, with notable increases in revenue and changes in shareholder structure [1][2]. Group 1: Trading Activity - On August 29, Hezhong Shizhuang's stock rose by 0.09%, with a trading volume of 589 million yuan [1]. - The financing buy-in amount for the day was 73.30 million yuan, while the financing repayment was 63.63 million yuan, resulting in a net financing buy of 9.67 million yuan [1]. - As of August 29, the total financing and securities lending balance was 363 million yuan, accounting for 4.50% of the circulating market value, indicating a high level compared to the past year [1]. Group 2: Financial Performance - For the first half of 2025, Hezhong Shizhuang reported a revenue of 659 million yuan, representing a year-on-year growth of 18.97% [2]. - The company recorded a net profit attributable to shareholders of -9.07 million yuan, which is an improvement of 84.29% year-on-year [2]. - Cumulatively, the company has distributed 138 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [2]. Group 3: Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 81,200, a rise of 31.77% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 24.11% to 9,119 shares [2]. - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 11.08 million shares, an increase of 5.26 million shares from the previous period [2].

Core Viewpoint - The company, Beijing Huzhong Shizhuang Technology Co., Ltd., is focusing on expanding its market presence in satellite navigation and positioning, with a strategic emphasis on overseas business growth and new industry applications [3]. Group 1: Company Overview - Beijing Huzhong Shizhuang has over 30 years of experience in the satellite navigation and positioning field, developing and selling related products and services [3]. - The company aims to enhance its technological advantages in high-precision navigation and positioning, while exploring applications in new infrastructure and measurement industries [3]. Group 2: Financial Performance - In the first half of 2025, the company achieved a revenue of 659 million yuan, representing a year-on-year growth of 18.97% [3]. - The net profit attributable to shareholders was a loss of 9.07 million yuan, significantly reducing losses by 84.29% compared to the previous year [3]. - The company reported a 53.52% decrease in financial expenses, indicating improved financial management [3]. Group 3: Overseas Business Development - The company has established a strong international presence, serving clients in over 100 countries and regions, with overseas revenue reaching 248 million yuan, accounting for approximately 43% of total revenue [3]. - The gross profit margin for overseas business stood at 57%, highlighting the profitability of international operations [3]. Group 4: Emerging Industry Focus - The company is actively developing autonomous driving technologies, particularly for non-road construction machinery, and has scaled applications in agricultural machinery [3]. - In the low-altitude economy sector, the company is exploring applications of BeiDou/GNSS technology and has introduced drone measurement solutions [3]. - Although the company has not yet entered the robotics field, it is enhancing its positioning technology capabilities for future market expansion [3]. Group 5: Market and Capital Strategy - The company has seen positive stock performance in the first half of the year, with an improved investment value due to strategic transformation [3]. - It is open to strategic investments and partnerships but currently has no specific plans for mergers or acquisitions [3]. - Future strategies include focusing on core business areas, expanding overseas operations, and exploring new industries through potential investments and acquisitions [3].

Company Overview - Beijing Hezhong Sizhuang Technology Co., Ltd. is one of the earliest companies in China to enter the satellite navigation and positioning field, with over 30 years of development history [2] - The company focuses on the research, manufacturing, and sales of satellite navigation technology-based products, providing high-precision Beidou and spatiotemporal information services [2] Financial Performance - In the first half of 2025, the company achieved operating revenue of 659 million yuan, a year-on-year increase of 18.97% [3] - The net profit attributable to shareholders was -9.0721 million yuan, significantly reducing losses by 84.29% compared to the same period last year [3] - Overseas business accounted for over 40% of total revenue, with a gross profit margin of 57% [3] Market Expansion - The company is actively exploring applications of satellite navigation in new construction, digital economy, and artificial intelligence sectors [2] - It is focusing on expanding its market in surveying and mapping, precision agriculture, GIS, and smart manufacturing [3] Strategic Focus - The company aims to enhance its core technology and product integration to strengthen its competitive advantage in high-precision positioning and navigation technology [2] - Future strategies include focusing on main business operations, expanding overseas markets, and exploring new industries through investments and acquisitions [4] Technological Development - The company is advancing research in autonomous driving technology, particularly for non-road engineering machinery and agricultural machinery [4] - It is also exploring applications of GNSS technology in the low-altitude economy and has developed drone measurement solutions [4] Stock Performance and Value Management - The company's stock price showed a positive trend in the first half of 2025, reflecting improvements in its fundamentals and investment value [4] - A new value management system has been established to enhance market performance and internal value [4] Investor Relations - The company conducted a site visit for investors, ensuring compliance with information disclosure regulations and facilitating open communication [5]

Core Viewpoint - The company, Beijing Huzhong Technology Co., Ltd., has shown significant financial growth in its latest performance report, indicating a positive trend in revenue and profit margins [1]. Financial Performance - As of the latest mid-year report for 2025, the company reported total operating revenue of 659 million yuan, representing a year-on-year increase of 18.97% [1]. - The net profit attributable to shareholders reached 9.07 million yuan, marking a substantial year-on-year growth of 84.29% [1]. - The company's non-recurring net profit was 16.18 million yuan, which is an increase of 78.07% compared to the previous year [1]. - Key financial ratios include a current ratio of 1.937, a quick ratio of 1.538, and a debt-to-asset ratio of 41.94% [1]. Market Activity - The stock price closed at 10.79 yuan, with an increase of 3.25% on the trading day [1]. - The turnover rate was recorded at 8.76%, with a trading volume of 648,900 hands and a transaction amount of 690 million yuan [1]. - There was a net inflow of main funds amounting to 49.51 million yuan, accounting for 7.18% of the transaction amount [1]. - Large orders contributed to a net inflow of 37.01 million yuan, while small orders saw a net outflow of 52.23 million yuan [1]. Company Background - Beijing Huzhong Technology Co., Ltd. was established in 1998 and is based in Beijing, focusing primarily on research and experimental development [2]. - The company has a registered capital of 740.36 million yuan, which is also its paid-in capital [1]. - The company has made investments in 77 enterprises and has participated in 434 bidding projects [2].

Investment Rating - The industry is rated positively, with expectations of overall returns exceeding the CSI 300 index by more than 5% in the next six months [45]. Core Insights - China's defense budget has maintained a growth rate of around 7%, with defense spending accounting for less than 1.5% of GDP, which is below the average level of major military powers. There is significant room for growth in defense spending, which is expected to outpace GDP growth in the long term. The year 2025 is anticipated to mark a turning point for the industry, moving away from a period of stagnation towards a comprehensive recovery. As orders normalize and are gradually released, the military industry sector may enter a phase of performance improvement and valuation enhancement, referred to as the "Davis Double-Trigger" phase. It is recommended to focus on high-quality leading companies in advanced fighter jets, low-altitude economy, domestic large aircraft, satellite internet, and deep-sea technology sectors, which have favorable competitive landscapes and high technological barriers [4][9]. Summary by Sections Industry Insights - The defense budget growth rate in China is around 7%, with spending as a percentage of GDP below 1.5%, indicating potential for significant growth. The military sector is expected to recover in 2025, with a return to normal order levels leading to improved performance and valuations [4][9]. Market Performance - In the past week, the CSI 300 index increased by 4.90%, while the aerospace and defense index rose by 4.19%. For the month, the CSI 300 index saw a 7.16% increase, and the aerospace and defense index increased by 8.25% [10]. Industry News - The preparations for the 80th anniversary of the victory in the War of Resistance against Japan are progressing smoothly, showcasing new military equipment, including advanced fourth-generation equipment and various unmanned systems, highlighting the military's capabilities in modern warfare [14][15]. Company Tracking - Several companies reported their semi-annual results, with varying performance metrics. For instance, *ST Lihang reported a revenue of 54.34 million yuan, down 49.72% year-on-year, while Hongyuan Electronics achieved a revenue of 1.018 billion yuan, up 22.27% year-on-year [21][22][43].

财务报表中对有大幅变动的财务项目的原因说明如下： 证券之星价投圈财报分析工具显示： 业务评价：去年的净利率为-20.72%，算上全部成本后，公司产品或服务的附加值不高。从历史年 报数据统计来看，公司近10年来中位数ROIC为3.67%，中位投资回报较弱，其中最惨年份2020年 的ROIC为-17.08%，投资回报极差。公司历史上的财报非常一般，公司上市来已有年报14份，亏 损年份5次，如无借壳上市等因素，价投一般不看这类公司。 据证券之星公开数据整理，近期合众思壮(002383)发布2025年中报。截至本报告期末，公司营业总收入 6.59亿元，同比上升18.97%，归母净利润-907.21万元，同比上升84.29%。按单季度数据看，第二季度营 业总收入3.25亿元，同比上升13.19%，第二季度归母净利润-1175.88万元，同比上升51.95%。本报告期 合众思壮盈利能力上升，毛利率同比增幅0.13%，净利率同比增幅80.3%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率41.52%，同比增0.48%，净利率-2.22%，同比增 80.3%，销售费用、管理费用、财务费用总计2.33亿元，三费占营收比3 ...