Stock Performance - Several stocks have shown significant gains, with notable performances including: - 恒天海龙 with a 10.07% increase over two days [2] - 晨曦航空 achieving a 19.96% rise on its first board [3] - 通易航天 with a remarkable 29.96% increase on its first board [3] - 新坐标 maintaining a 10.01% increase over four days [5] - 全筑股份 also showing a 10.00% increase over four days [9] Industry Trends - The robotics sector is gaining traction, with multiple companies experiencing stock price increases attributed to advancements in robotic technology and applications [4][5][7] - The AI computing industry is showing strong performance, as indicated by the positive financial results from companies in this sector, suggesting a sustained high level of industry activity [8] - The brain-computer interface (BCI) technology is gaining attention following FDA approval for Neuralink's device, which is aimed at aiding patients with severe communication disabilities [11] - The chemical industry is experiencing volatility in product prices, drawing market interest towards related companies [13] - The semiconductor industry is benefiting from increased investment and support for domestic high-end lithography machines, which is expected to boost the semiconductor equipment supply chain [16] - The real estate sector is reacting positively to the People's Bank of China's decision to lower housing loan interest rates, which is likely to stimulate market activity [18] Market Reactions - Stocks related to the ride-hailing industry are responding positively to the news of a partnership between autonomous driving company 小马智行 and Uber, with significant stock price increases observed [20][21] - The food and beverage sector is also seeing positive movements, influenced by the central bank's announcement of a new loan program aimed at boosting consumer spending [22][24] - The financial sector is reacting to the People's Bank of China's announcement of a series of monetary policy measures, including a reserve requirement ratio cut and interest rate adjustments [25][26]

Core Viewpoint - The Chinese reconnaissance and strike unmanned aerial vehicle (UAV) system market is experiencing steady growth driven by strong military demand and technological advancements, with the market size projected to reach approximately $19.48 billion in 2024 from $17.95 billion in 2023 [1][9]. Industry Definition and Classification - The reconnaissance and strike UAV system integrates reconnaissance and strike capabilities, enabling tasks such as intelligence collection, target monitoring, and precise strikes against enemy targets [2][4]. Industry Chain Analysis - The industry chain is a highly collaborative and technology-driven ecosystem, comprising upstream materials, midstream platform development, and downstream military and civilian applications, showcasing high system integration and diverse application scenarios [4][6]. Development History - The industry has evolved over 40 years from technology imitation to global leadership, with significant advancements in UAV capabilities and international exports since the 2000s [6][9]. Current Market Analysis - The market size for the reconnaissance UAV system in China was approximately $17.95 billion in 2023, with expectations to grow to about $19.48 billion in 2024, driven by military procurement and emerging civilian applications [9][11]. Application Fields - The industry is primarily military-focused (80%), with significant roles in counter-terrorism and emergency rescue (15%), and a growing civilian sector (5%) in agriculture and logistics [13][15]. Key Enterprises Analysis - The competitive landscape features leading companies like Chengdu Aircraft Industry Group and Aerospace Rainbow, which dominate the market through comprehensive strategies and technological advancements [15][19]. Future Development Trends - The industry is expected to focus on dual drivers of intelligence and stealth capabilities, with advancements in AI and stealth technologies enhancing operational effectiveness [21][22]. - The export and localization strategy is crucial for overcoming trade barriers, with plans for assembly bases in countries like the UAE and Pakistan [22][23]. - Core component localization is essential for sustainable development, with advancements in domestic engines, AI chips, and materials technology reducing reliance on imports [24][25].

| 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.0315 | 0.0026 | -1311.54 | 0.0200 | | 每股净资产（元） | 8.06 | 8.06 | 0 | 7.94 | | 每股公积金(元) | 5.71 | 5.75 | -0.7 | 5.75 | | 每股未分配利润(元) | 1.27 | 1.28 | -0.78 | 1.23 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 3.15 | 4.64 | -32.11 | 5.09 | | 净利润(亿元) | -0.31 | 0.03 | -1133.33 | 0.19 | | 净资产收益率(%) | -0.38 | 0.03 | -1366.67 | 0.24 | 一、主要会计数据和财务指标 数据四舍五入，查看更多财务数据>> | 名称 持有数量(万股) | | 占总股本比例(%) | 增减情况(万股) | | --- | - ...

Financial Performance - The company's revenue for Q1 2025 was ¥315,073,102, a decrease of 32.08% compared to ¥463,895,984 in the same period last year[5] - The net loss attributable to shareholders was ¥30,884,791.76, representing a decline of 1,310.53% from a profit of ¥2,551,338.79 in the previous year[5] - Basic and diluted earnings per share were both -¥0.0315, a decrease of 1,311.54% from ¥0.0026 in the same quarter last year[5] - The net profit for the current period was a loss of ¥30,832,619.49, compared to a profit of ¥3,705,248.77 in the previous period, indicating a significant decline[16] Cash Flow - The net cash flow from operating activities was negative at ¥510,829,483.48, worsening by 57.56% from a negative cash flow of ¥324,205,076.73 in the prior year[5] - Operating cash flow for the current period is -¥510,829,483.48, compared to -¥324,205,076.73 in the previous period, indicating a decline of approximately 57.5%[17] - Total cash inflow from operating activities is ¥269,499,974.15, slightly down from ¥270,658,202.28, a decrease of about 0.4%[17] - Cash outflow from operating activities increased to ¥780,329,457.63 from ¥594,863,279.01, representing an increase of approximately 31.1%[17] - Investment activities generated a net cash flow of -¥19,796,768.34, an improvement from -¥175,207,119.54 in the previous period[17] - Cash inflow from financing activities increased to ¥47,203,190.07 from ¥32,744,956.89, a rise of about 44%[18] - Net cash flow from financing activities improved to ¥13,982,682.84 from -¥130,527,172.46, indicating a significant recovery[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,600,457,847.67, down 3.21% from ¥10,952,027,524.31 at the end of the previous year[5] - Total liabilities decreased to ¥2,410,632,727.60 from ¥2,729,959,048.26, a decline of approximately 11.7%[14] - The total equity attributable to shareholders of the parent company was ¥8,009,971,222.84, slightly down from ¥8,038,266,751.10[14] - The company's total assets decreased to ¥10,600,457,847.67 from ¥10,952,027,524.31, representing a reduction of about 3.2%[14] Shareholder Information - The total number of common shareholders at the end of the reporting period is 78,135[9] - The largest shareholder, China Aerospace Aerodynamics Research Institute, holds 20.78% of shares, totaling 206,480,242 shares[9] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top two alone accounting for 35.82%[9] - The company has not reported any changes in the participation of major shareholders in margin trading activities[9] Operational Efficiency - The company's cash and cash equivalents decreased from 1,810,413,966.33 CNY to 1,238,899,729.09 CNY, a decline of approximately 31.6%[12] - Accounts receivable increased from 2,821,099,792.03 CNY to 2,960,944,717.86 CNY, reflecting a growth of about 4.9%[12] - Inventory rose from 1,044,145,896.34 CNY to 1,149,976,811.74 CNY, indicating an increase of approximately 10.1%[12] - The company’s cash flow from operating activities remains negative, highlighting ongoing challenges in operational efficiency[17] Expenses - Financial expenses surged by 126.49% to ¥1,932,112.57, mainly due to fluctuations in the RMB to USD exchange rate[8] - Research and development expenses were ¥23,445,223.02, a decrease from ¥25,081,289.89, reflecting a reduction of about 6.5%[15] - The company reported a significant increase in tax expenses, with current period tax expenses at ¥537,383.20 compared to ¥4,735,104.92 in the previous period[16] Other Financial Metrics - The weighted average return on equity was -0.38%, a decline of 0.41% from 0.03% in the previous year[5] - The company reported a significant increase in prepayments, which rose by 81.06% to ¥283,361,852.06, primarily due to increased material payments[8] - The company recorded a government subsidy increase, with other income rising by 112.97% to ¥5,185,679.31[8] - Total operating costs amounted to ¥351,195,658.36, down from ¥457,914,998.04, reflecting a reduction of approximately 23%[15]

关于董事会、监事会延期换届的提示性公告 证券代码：002389 证券简称：航天彩虹 公告编号：2025-020 航天彩虹无人机股份有限公司 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。 航天彩虹无人机股份有限公司（以下简称"公司"）第六届董事会、 监事会任期将于 2025 年 4 月 26 日届满，鉴于公司换届工作正在进行中， 为确保公司董事会和监事会相关工作的连续性和稳定性，公司第六届董事 会、监事会换届工作将适当延期，董事、监事、高级管理人员的任期亦相 应顺延，公司将积极推进换届工作进程，并及时履行信息披露义务。 在换届工作完成之前，公司第六届董事会、监事会全体成员及高级管 理人员将依照相关法律、法规和《公司章程》的相关规定继续履行其义务 和职责。公司董事会、监事会延期换届不会影响公司正常运作。 特此公告。 航天彩虹无人机股份有限公司董事会 二○二五年四月二十二日 1 ...

证券代码：002389 证券简称：航天彩虹 公告编号：2025-018 航天彩虹无人机股份有限公司 2024年度股东会决议公告 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、误导性陈述或重大遗漏。 特别提示： 1.本次股东会无否决提案的情形。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开情况 （2）网络投票时间为：2025年4月22日。其中，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4月22日上午9:15-9:25， 9:30-11:30，下午13:00-15:00；通过深圳证券交易所互联网投票系统进 行投票的具体时间为：2025年4月22日上午9:15至下午15:00。 2.会议召开地点：北京市丰台区云岗西路17号北京浦金凯航国际大酒 店一层会议室 3.会议召开方式：现场表决与网络投票相结合的方式 4.会议表决方式：采取现场书面记名投票和网络投票方式 1 5.会议召集人：公司董事会 6.会议主持人：公司董事长胡梅晓先生 会议的召集、召开和表决程序符合《公司法》《股票上市规则》《公 司章程》以及《公司股东会议事规则》等有关规定。 二、会议出席 ...

航天彩虹无人机股份有限公司（以下简称"公司"）于 2025 年 3 月 27 日召开第六届董事会第二十五次会议及第六届监事会第二十三次会议， 审议通过了《关于 2021 年限制性股票激励计划第三个解除限售期解除限 售条件未成就暨回购注销部分限制性股票的议案》。根据《公司 2021 年 限制性股票激励计划（草案）》相关规定，鉴于公司层面业绩考核指标未 达到 2021 年限制性股票激励计划（以下简称"激励计划"）第三个解除 限售期业绩考核目标，解除限售条件未成就，公司决定以自有资金回购注 销 248 名激励对象对应第三个解除限售期已获授但未获准解除限售的 2,680,580 股限制性股票。具体内容详见 2025 年 3 月 29 日《证券时报》 和巨潮资讯网（http://www.cninfo.com.cn）刊登的《关于 2021 年限制 性股票激励计划第三个解除限售期解除限售条件未成就暨回购注销部分 限制性股票的公告》（公告编号：2025-016）。并于 2025 年 4 月 22 日召 开的 2024 年度股东会决议通过了《关于 2021 年限制性股票激励计划第三 个解除限售期解除限售条件未成就暨回购注销部分 ...

北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：航天彩虹无人机股份有限公司 北京市嘉源律师事务所 北京市嘉源律师事务所 关于航天彩虹无人机股份有限公司 2024 年度股东会的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 航天彩虹·2024 年度股东会 嘉源·法律意见书 关于航天彩虹无人机股份有限公司 2024 年度股东会的法律意见书 嘉源(2025)-04-225 北京市嘉源律师事务所（以下简称"本所"）接受航天彩虹无人机股份有限 公司（以下简称"公司"）委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）等现行有效的法 律、行政法规、部门规章、规范性文件（以下简称"法律法规"）以及《航天彩 虹无人机股份有限公司章程》（以下简称"《公司章程》"）的有关规定，指派本所 律师对公司 2024 年度股东会（以下简称"本次股东会"）进行见证，并依法出具 本法律意见书。 为出具本法律意见书，本所指派律师现场见证了本次股东会，查阅了公司提 ...

关于召开2024年度报告业绩说明会的公告 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。 航天彩虹无人机股份有限公司（以下简称"公司"）定于 2025 年 4 月 21 日（星期一）下午 15:00-17:00 在同花顺路演平台召开 2024 年度报告 业绩说明会（以下简称"业绩说明会"），本次业绩说明会将采用网络远程 的方式举行，投资者可登录同花顺路演平台，进入直播间 https://board. 10jqka.com.cn/rs/pc/detail?roadshowId=1010473 进行提问或使用同 花顺手机炒股软件扫描下方二维码进入路演直播间进行提问互动交流。 证券代码：002389 证券简称：航天彩虹 公告编号：2025-018 航天彩虹无人机股份有限公司 出席本次业绩说明会的人员有：总经理文曦先生，独立董事徐学宗先 生，副总经理、董事会秘书杜志喜先生，财务总监孙守云先生。 特此公告 航天彩虹无人机股份有限公司董事会 二○二五年四月十四日 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向 投资者公开征集问题，广泛听取投资者的意见和建议。 ...

Financial Performance - In 2024, the company achieved a total revenue of 2.567 billion RMB, a decrease of 10.45% year-on-year [3] - The net profit attributable to shareholders was 88 million RMB, down 42.54% compared to the previous year [3] - The total profit for the year was 128 million RMB, reflecting a decline of approximately 34% year-on-year [3] - The company maintained stable operating expenses, with sales, R&D, and management costs at 37.78 million RMB, 131 million RMB, and 256 million RMB respectively [3] Business Development - The company successfully expanded its international market, achieving a record high of 1.365 billion RMB in overseas drone revenue [3] - Two new user countries were added, and the company received export approval for CH-9 and CH-3D drones, laying a solid foundation for future exports [3] - The company completed 40 flight projects, flying over 3,300 aircraft with a total flight time of 13,500 hours [3] Strategic Initiatives - The company is focusing on high-quality development and has made significant progress in governance and brand building, receiving an "A" rating for information disclosure from the Shenzhen Stock Exchange [4] - A total of 89 patents were applied for, with R&D investment reaching 516 million RMB, exceeding 20% of revenue [3] - The company is exploring new business models in after-sales service and has established a spare parts library in user countries [3] Market Outlook - The export revenue of drones is approximately 1.3 billion RMB, while domestic revenue is around 400 million RMB, with an export gross margin of about 36% and a comprehensive gross margin of 28% [4] - The market outlook for the next 3-5 years is optimistic, particularly for low-cost drones and high-altitude, high-speed drones [4] - The company anticipates a balanced revenue structure between domestic and international markets, with foreign military trade expected to contribute more significantly to profits [7] Challenges and Responses - The company faces challenges such as increased operating costs and changes in product structure, which have led to a decline in gross margins [5] - To maintain competitiveness, the company is enhancing customer engagement and rapidly responding to user needs [5] - The company is also addressing the competitive landscape in the drone market by improving product design and optimizing costs [7]