Core Viewpoint - The military industry sector has experienced a significant surge, driven by geopolitical factors and advancements in technology, with a notable increase in military trade potential for 2024 [1][4][6]. Group 1: Market Performance - The military sector saw a strong rebound, with the military ETF rising nearly 6% and over 30 stocks hitting the daily limit or increasing by more than 10% [1][3]. - The backdrop of easing tensions in the India-Pakistan conflict has contributed to this unexpected rally in the military sector [3][6]. Group 2: Technological Advancements - A recent article from the People's Daily emphasized the rapid development of a new round of technological revolution and industrial transformation, highlighting the importance of high-tech weapons in modern warfare [3][4]. - Key growth areas for military capabilities include intelligent technology, unmanned equipment, and big data applications [3][4]. Group 3: Global Military Trade - The global military trade sales are projected to reach $111.6 billion in 2024, with the United States accounting for $42.33 billion, representing 37.92% of the total [4][6]. - The geopolitical landscape, particularly the India-Pakistan conflict, is expected to enhance military trade potential [4][6]. Group 4: Funding and Investment Outlook - Recent data indicates an improvement in the funding landscape for the military sector, with an increase in passive fund sizes and leverage compared to the previous week [4][6]. - Analysts are optimistic about the military industry's recovery in demand by 2025, suggesting a favorable investment environment [4][6]. Group 5: Company Performance and Future Plans - Companies in the military sector are showing confidence in their growth plans for 2025, with significant revenue and profit targets set by firms like Beifang Navigation and Zhongbing Hongjian [7]. - The military sector is expected to see continued activity in themes such as low-altitude economy, commercial aerospace, deep-sea technology, and military intelligence [7].

Core Viewpoint - The military industry stocks are experiencing a strong upward trend, with several stocks hitting their daily limit up, indicating significant investor interest and potential growth in this sector [1] Group 1: Stock Performance - Qifeng Precision Engineering reached its historical high with a 30% limit up [1] - Kunshan Intelligent (301311), Aerospace Nanhu, and Huaru Technology (301302) saw a 20% limit up [1] - AVIC Chengfei (302132), Hongda Electronics (300726), and Chenxi Aviation (300581) increased by over 10% [1] - Nearly 20 stocks, including Qiyi Er (603712) and Leike Defense (002413), hit the limit up [1] Group 2: Market Activity - Dark pool funds are flowing into these military stocks, indicating increased trading activity and potential investment interest [1]

北京市万商天勤律师事务所 关于 北京雷科防务科技股份有限公司 股东大会 之 法律意见书 (2025)万商天勤法意字第 676 号 致：北京雷科防务科技股份有限公司 北京市万商天勤律师事务所（以下简称"本所"）受北京雷科防务科技股份有 限公司（以下简称"雷科防务"或"公司"）之委托，指派律师（以下简称"本所律师"） 列席雷科防务于 2025 年 5 月 9 日召开的 2024 年年度股东大会（以下简称"本次 股东大会"或"本次股东会"），并依据《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》、中国证券监督管理委员会《上 市公司股东大会规则》（以下简称"《股东大会规则》"）等中国现行法律、法 规和规范性文件以及《北京雷科防务科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，就本次股东大会的召集和召开程序、出席会议人员资 格、表决程序、表决结果等事项进行见证，并出具本法律意见书。 为出具本法律意见书，本所律师特作如下声明： 1、为出具本法律意见书，本所律师对雷科防务本次股东大会所涉及的有关 事项进行了审查，查阅了本所律师认为出具本法律意见书所必需查阅的文件，并 对有关问题 ...

证券代码：002413 证券简称：雷科防务 公告编号：2025-014 债券代码：124012 债券简称：雷科定02 北京雷科防务科技股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证本公告内容的真实、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： 1、本次股东大会没有出现否决议案的情形。 2、本次股东大会未涉及变更前次股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议召开时间：2025年5月9日（周五）14:30 （2）网络投票时间： 通过深圳证券交易所互联网投票系统的投票时间为2025年5月9日9:15至 2025年5月9日15:00之间的任意时间；通过深圳证券交易所交易系统进行网络投 票的投票时间为2025年5月9日9:15-9:25，9:30-11:30和13:00-15:00。 2、现场会议地点：北京市海淀区远大南街6号院鲁迅文创园5号楼公司会议 室 3、会议召开方式：现场投票与网络投票相结合的方式 4、会议召集人：公司董事会 5、会议主持人：董事长高立宁先生 6、本次会议的召集、召开和表决程序符合《公司法》 ...

Group 1 - The Terahertz concept sector increased by 2.90%, ranking fifth among concept sectors, with 22 stocks rising, including Sifang Electronics which hit the daily limit, and others like Leike Defense and Yaguang Technology showing significant gains of 7.69% and 7.46% respectively [1] - The top gainers in the Terahertz concept sector included Sifang Electronics, ZTE Corporation, and Yaguang Technology, with net inflows of 9953.89 million, 7174.28 million, and 4470.21 million respectively [2][3] - The overall market saw a net inflow of 2.02 billion into the Terahertz concept sector, with 13 stocks receiving net inflows, and 6 stocks exceeding 3000 million in net inflows [1] Group 2 - The leading stocks by net inflow ratio included Sifang Electronics at 17.39%, Tongfang Co. at 10.47%, and Yaguang Technology at 9.35% [2] - The trading volume and turnover rates for the top stocks in the Terahertz concept sector were notable, with Sifang Electronics showing a turnover rate of 7.20% and ZTE Corporation at 1.79% [2][3] - The stocks with the largest declines included Juguang Technology and Shuo Beid, with declines of 0.80% and 0.07% respectively [1]

Industry Overview - The Beidou receiver is a crucial component of the Beidou satellite navigation system, serving as a bridge between satellites and users, directly impacting service quality and user experience [1][17] - The global service capability of the Beidou system has been continuously enhanced, providing broader application space and higher performance requirements for Beidou receivers [1][17] - The Chinese Beidou receiver industry is experiencing rapid development opportunities, with market potential gradually being released, projected to reach approximately 30.06 billion yuan in 2024 [1][17] Market Size and Segmentation - The market size for Beidou receivers in China is estimated to be around 30.06 billion yuan in 2024, with high-precision receivers accounting for about 10 billion yuan and low-precision receivers for approximately 20.06 billion yuan [1][17] - The industry is driven by both policy support and market demand, focusing on high performance, low power consumption, and multi-scenario integration [1][17] Industry Development History - The development of the Beidou receiver industry is closely linked to the construction of the Beidou satellite navigation system, which began in the 1990s [5] - The industry has evolved from initial military applications to a broader range of civil applications, including transportation, surveying, and public safety [5] - Recent years have seen significant achievements in technological innovation, market expansion, and the improvement of the industrial chain, enhancing international competitiveness [5] Key Companies in the Industry - Major companies in the Beidou receiver industry include: - **Haige Communication**: Holds over 30% market share in military high-precision receivers [18][20] - **Zhenxin Technology**: Maintains a leading position in the satellite-based augmentation system (SBAS) receiver market [18][20] - **Beidou Xingtong**: Focuses on a comprehensive product range and is accelerating the development of integrated cloud-core business models [18][20] - **HuaCe Navigation**: Specializes in high-precision surveying and geographic information solutions [18][20] Technological Advancements - The Beidou receiver industry is moving towards higher positioning accuracy, with potential breakthroughs expected through the integration of satellite and ground-based augmentation systems [26] - Future receivers will evolve from single-function devices to integrated smart terminals, incorporating 5G communication and environmental sensing capabilities [27] - The application of third-generation semiconductor materials is anticipated to significantly reduce the size and power consumption of receivers, facilitating their use in consumer-grade wearable devices and IoT terminals [28]

Core Viewpoint - Beijing Leike Defense Technology Co., Ltd. announced that it will not distribute profits for the fiscal year 2024 due to a net loss of approximately RMB 396 million, resulting in a negative retained earnings balance of about RMB 943 million [7][9][20]. Financial Data - The company reported a net profit attributable to shareholders of RMB -396,034,606.97 for the year 2024 [7]. - As of December 31, 2024, the company's retained earnings were RMB -942,821,514.60 [7]. - The total amount of asset impairment provisions for 2024 was RMB 390,483,698.00 [15][20]. Asset Impairment - The company recognized credit impairment losses of RMB 47,778,417.39, which includes RMB 46,453,136.16 for accounts receivable and RMB 1,325,281.23 for other receivables [16]. - Inventory write-downs amounted to RMB 93,090,395.03 due to the comparison of inventory costs with their net realizable values [17]. - Goodwill impairment losses totaled RMB 249,614,885.58, with specific amounts for two subsidiaries: RMB 89,056,081.44 for Chengdu Aikete Technology Development Co., Ltd. and RMB 160,558,804.14 for Xi'an Hengda Microwave Technology Development Co., Ltd. [18]. Profit Distribution Proposal - The board proposed not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the fiscal year 2024, aligning with the company's financial situation and regulatory requirements [9][10]. - The proposal is subject to approval at the company's annual general meeting [7]. Approval Process - The asset impairment provisions and profit distribution proposal were approved by the company's board of directors and supervisory board during their meetings on April 18, 2025 [14][19].

北京雷科防务科技股份有限公司 关于 2024 年度拟不进行利润分配的公告 本公司及董事会全体成员保证本公告内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、审议程序 北京雷科防务科技股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日 召开第八届董事会第二次会议、第八届监事会第二次会议，审议通过《公司 2024 年度利润分配预案》，该项议案尚需经公司 2024 年年度股东大会审议。 二、本年度利润分配预案基本情况 经信永中和会计师事务所（特殊普通合伙）审计，公司 2024 年度归属于上 市公司股东的净利润人民币-396,034,606.97 元，截至 2024 年 12 月 31 日，公 司未分配利润-942,821,514.60 元。根据《上市公司监管指引第 3 号——上市公 司现金分红》《深圳证券交易所股票上市规则》及《公司章程》的相关规定，并 结合公司的实际情况，公司拟定 2024 年度利润分配预案为：2024 年度不派发现 金红利，不送红股，不以公积金转增股本。 三、现金分红方案的具体情况 1、公司 2024 年度不派发现金红利，不触及其他风险警示，具体如下： | 证券 ...

审计报告 | 索引 | | 页码 | | --- | --- | --- | | 审计报告 | | 1-5 | | 公司财务报表 | | | | — | 合并资产负债表 | 1-2 | | — | 母公司资产负债表 | 3-4 | | — | 合并利润表 | 5 | | — | 母公司利润表 | 6 | | — | 合并现金流量表 | 7 | | — | 母公司现金流量表 | 8 | | — | 合并股东权益变动表 | 9-10 | | — | 母公司股东权益变动表 | 11-12 | | — | 财务报表附注 | 13-117 | 北京雷科防务科技股份有限公司 2024 年度 审计报告 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计 师对财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册 会计师职业道德守则，我们独立于雷科防务，并履行了职业道德方面的其他责任。我们 相信，我们获取的审计证据是充分、适当的，为发表审计意见提供了基础。 三、 关键审计事项 XYZH/2025BJAG1B0268 北京雷科防务科技股份有限公司 北京雷科防务科技股份有限公司全体股东： ...

北京雷科防务科技股份有限公司 2024 年 12 月 31 日 内部控制审计报告 索引 页码 内部控制审计报告 1-2 内部控制审计报告 XYZH/2025BJAG1B0267 北京雷科防务科技股份有限公司 北京雷科防务科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计 了北京雷科防务科技股份有限公司（以下简称雷科防务公司）2024 年 12 月 31 日财务报 告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指 引》的规定，建立健全和有效实施内部控制，并评价其有效性是雷科防务公司董事会的 责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意 见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况的 变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内部控 制审计结果推测未来内部控制的有效性具有一定风险。 四、 财务 ...