Core Points - The company held its annual general meeting on May 20, 2025, with a combination of on-site and online voting [3][5][10] - A total of 511 shareholders attended the meeting, representing 2,764,728,927 shares, which is 64.7366% of the total voting shares [9] - The meeting approved several key proposals, including the 2024 annual financial report and the profit distribution plan, which stated no cash dividends for 2024 [10][17] Meeting Details - The meeting was convened by the company's board of directors and hosted by the general manager, Ms. Zhang Yan [6][8] - The meeting's location was at the company's conference room in Wuhan [4] - The equity registration date was set for May 14, 2025 [7] Voting Results - The proposal for the 2024 Board of Directors' work report received 99.9520% approval [10] - The proposal for the 2024 Supervisory Board's work report received 99.9519% approval [11] - The proposal for the 2024 annual report received 99.9519% approval [12] - The proposal for the 2024 financial settlement report received 99.9491% approval [13] - The proposal for the remuneration of directors and senior management for 2024 received 99.9498% approval [14] - The proposal for the remuneration of supervisors for 2024 received 99.9569% approval [15] - The proposal for the profit distribution plan for 2024 received 99.9591% approval [16] - The proposal for cash management using idle funds received 99.9561% approval [18] - The proposal for the reappointment of the accounting firm received 99.8621% approval [19] - The proposal for expanding the company's business scope and amending the articles of association received 99.9701% approval [20] Legal Opinion - The legal representatives confirmed that the meeting's procedures complied with relevant laws and regulations [22]

Core Points - Wuhan Guide Infrared Co., Ltd. is a joint-stock company established in accordance with the Company Law of the People's Republic of China, with a registered capital of 4,270,736,108 RMB [1][2] - The company aims to maximize shareholder interests through independent production and operation activities, enhance innovation capabilities, and improve production technology [12] - The company is engaged in a wide range of business activities, including the design, manufacturing, inspection, and maintenance of special equipment, as well as various electronic and optical instruments [3][4] Company Structure - The company is a permanent joint-stock company, with all assets divided into equal shares, and shareholders are liable only to the extent of their subscribed shares [2][8] - The chairman serves as the legal representative of the company [2] - The company has established a Communist Party organization to conduct party activities [2] Business Scope - The company’s business scope includes special equipment design, manufacturing, inspection, and maintenance, as well as various electronic and optical instruments and components [3][4] - The company is also involved in software development, technology services, and the manufacturing of intelligent devices and systems [4] Special Provisions - The company has obligations to fulfill national military product orders and must comply with national security and confidentiality laws [5] - Any changes in the controlling shareholder must be reported to the relevant national defense authorities [6][7] Share Issuance and Management - The company issues shares in the form of stocks, with equal rights for each type of share [8][9] - The total number of shares issued is 4,270,736,108, all of which are ordinary shares [9][10] - The company cannot repurchase its own shares except under specific circumstances outlined in the articles of association [10][11] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, voting, and participation in shareholder meetings, and they must comply with laws and the company’s articles of association [15][18] - Shareholders holding more than 5% of shares must report any pledges of their shares to the company [19][20] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for calling and conducting these meetings [42][45] - Shareholder proposals can be submitted prior to meetings, and the company must notify shareholders of meeting details in advance [56][57]

证券代码：002414 证券简称：高德红外 公告编号：2025-019 武汉高德红外股份有限公司 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、本次股东大会无变更、否决提案的情形； 2、本次股东大会不涉及变更以往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：2025 年 5 月 20 日 14:30； （2）网络投票：2025 年 5 月 20 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 5 月 20 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投票的具体时间为：2025 年 5 月 20 日 9:15—15:00 期间的 任意时间。 6、主持人：公司董事兼总经理张燕女士。 7、本次股东大会召集、召开程序符合有关法律、行政法规、部门规章、规 范性文件和公司章程的规定。 （二）会议出席情况 - 1 - 出席本次股东大会的股东及股东代表共 511 名，代 ...

浙商大厦 10-11 楼 10-11/F Zheshang Tower No.738 Jianshe Avenue Jiang'an District 430015, Wuhan, China dacheng.com dentons.cn 北京大成（武汉）律师事务所 关于武汉高德红外股份有限公司 2024 年年度股东大会的 法律意见书 致：武汉高德红外股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民 共和国公司法》（以下简称"《公司法》"）和中国证券监督管理委员会《上 市公司股东会规则（2025 年修订）》（以下简称"《股东会规则》"）等法律、 行政法规和其他有关规范性文件的要求，北京大成（武汉）律师事务所（以 下简称"本所"）接受武汉高德红外股份有限公司（以下简称"公司"）的委托， 指派齐剑天、郑勇律师参加了公司 2024 年年度股东大会（以下简称"本次 股东大会"）。 北京大成（武汉）律师事务所 武汉市江岸区建设大道 718 号 邮编：430015 本所声明：本所律师仅对本次股东大会的召集程序、召开程序、出席 会议人员资格、召集人资格、表决程序及表决结果发表法律意见，并不对 ...

武汉高德红外股份有限公司 公司章程 二〇二五年五月 （2024 年年度股东大会审议通过） 1 | 第一章总则 | 3 | | --- | --- | | 第二章公司经营宗旨和经营范围 | 4 | | 第三章股份 | 6 | | 第一节股份发行 6 | | | 第二节股份增减和回购 7 | | | 第三节股份转让 8 | | | 第四章股东和股东大会 | 9 | | 第一节股东 9 | | | 第二节股东大会的一般规定 12 | | | 第三节股东大会的召集 14 | | | 第四节股东大会的提案与通知 15 | | | 第五节股东大会的召开 17 | | | 第六节股东大会的表决和决议 20 | | | 第五章董事会 | 23 | | 第一节董事 23 | | | 第二节董事会 28 | | | 第六章总经理及其他高级管理人员 | 31 | | 第七章监事会 | 34 | | 第一节监事 34 | | | 第二节监事会 35 | | | 第三节监事会决议 36 | | | 第八章财务会计制度、利润分配和审计 | 37 | | 第一节财务会计制度 37 | | | 第二节内部审计 41 | | | 第三节会计师 ...

Investment Rating - The report indicates a positive outlook for the military industry, suggesting that the industry is nearing a bottom and is expected to recover in 2025 [1][2]. Core Insights - The military sector reported a total revenue of 764.903 billion yuan in 2024, reflecting a year-on-year increase of 1.16%. Key segments such as shipbuilding, aerospace engines, and aviation maintained positive revenue growth [1][2][11]. - The net profit attributable to shareholders in the military sector decreased to 26.655 billion yuan in 2024, a decline of 38.01% year-on-year, primarily due to lower downstream demand and price reductions for certain products [11][12]. - In Q1 2025, the military sector's revenue reached 153.894 billion yuan, up 2.35% year-on-year, with segments like ground equipment and aerospace showing signs of recovery [28][31]. Summary by Sections 1. 2024 Annual Report and 2025 Q1 Review - The military sector's revenue structure shows significant characteristics, with a focus on the recovery of order fundamentals. The shipbuilding sector saw a revenue increase of 10.87%, while ground equipment and aerospace segments are expected to stabilize [11][28]. - The military sector's net profit for 2024 was 26.655 billion yuan, down 38.01% year-on-year, with only the shipbuilding sector showing positive growth [11][12]. 2. Key Target Profit Forecasts and Valuations - Investment strategies suggest focusing on traditional military sectors with expected order recovery, including aerospace engines, shipbuilding, and aviation [3]. - New domains and new qualities are recommended, emphasizing low-cost, intelligent, and systematic characteristics in industries like precision-guided munitions and unmanned systems [3]. 3. Investment Strategy - The report recommends three main investment lines: traditional military sectors, new domains with significant growth potential, and companies with expected asset integration and competitive military trade markets [3]. - Specific recommended stocks include aerospace engine manufacturers, shipbuilding companies, and firms involved in commercial aerospace and low-altitude economies [3]. 4. Market Performance - The military sector's performance is closely monitored, with various companies announcing contracts and showing signs of recovery in the fundamentals of the military sector [46][47].

Industry Overview - The 20th "China Optics Valley" International Optoelectronic Expo showcased cutting-edge technologies in the optoelectronic information sector, emphasizing its role as a global industry trendsetter [1][2] - China's optoelectronic information industry has achieved a leading position globally, surpassing Europe, North America, Japan, and South Korea in terms of industry scale [1][7] - The industry is transitioning from scale leadership to technology leadership, driven by continuous breakthroughs in core technologies [1][10] Key Innovations - The expo featured numerous innovative products, including the TriLaser laser printing device by Huagong Technology, which integrates multiple functions into a compact design, achieving nearly 100% localization [2][3] - Wuhan Gaode Infrared introduced a 5-million-pixel high-temperature mid-wave cooled infrared detector, enhancing precision in detecting forest fire points [3] - Wuhan Guangxun Technology presented the 1.6T OSFP224DR8 optical module, which reduces power consumption by 30% compared to industry standards, addressing cooling challenges in AI computing centers [3] Cross-Industry Applications - The expo introduced a "Light + Intelligent Terminal Applications" section, highlighting the integration of optoelectronic technology with emerging technologies like AI and robotics [4][5] - Demonstrations of human-robot collaboration showcased the precision and low-latency response enabled by optoelectronic sensors, with a motion accuracy of 0.001 degrees and a delay of 3 milliseconds [5] - In the drone sector, Puzhou Technology's products utilized optoelectronic technology for high-precision sensing and intelligent decision-making, enhancing operational capabilities [6] Market Dynamics - China's optoelectronic information industry is characterized by significant cluster effects, with over 16,000 companies concentrated in Wuhan's "Optics Valley" by the end of 2024 [7][8] - The fiber optic cable sector, represented by Changfei Optical Fiber, holds a substantial share of the global market, while companies like BOE Technology Group lead in the new display sector [8][9] - Government policies are increasingly supporting the industry's transition from quantity to quality, with initiatives aimed at enhancing technological breakthroughs and innovation [9][10]

Investment Rating - The report suggests a positive outlook for the military industry, indicating a potential recovery in performance by 2025, with a focus on companies with order recovery expectations and performance support [2][10][44]. Core Insights - The military sector reported a total revenue of 764.903 billion yuan in 2024, a year-on-year increase of 1.16%. Key segments showing positive growth include shipbuilding, aerospace engines, and aviation [2][10]. - The net profit for the military sector decreased to 26.655 billion yuan in 2024, down 38.01% year-on-year, primarily due to lower downstream demand and price reductions for certain products [12][10]. - The first quarter of 2025 is expected to show signs of recovery, particularly in ground equipment and aerospace segments, with a projected increase in associated transaction amounts [2][29]. Summary by Sections 1. Industry Overview - The military sector's revenue growth was driven by shipbuilding (10.87% increase), aerospace engines (4.46% increase), and aviation (2.75% increase), while ground equipment and commercial aerospace saw significant declines [10][12]. - The report highlights a structural recovery in the military sector, with positive signals emerging from major companies regarding contract announcements and performance stabilization [2][38]. 2. Investment Strategy - The report recommends focusing on three main investment lines: 1. Traditional military sectors with expected order recovery, particularly in aerospace engines, shipbuilding, and aviation [2][44]. 2. New domains characterized by low-cost, intelligent, and systematic features, including precision-guided munitions and unmanned systems [2][44]. 3. Companies with asset integration expectations and competitive positions in military trade markets [2][44]. 3. Recommended Stocks - Traditional military direction: Recommended stocks include Aerospace Power, Aerospace Control, and Huayin Technology [3][45]. - New domain and new quality direction: Recommended stocks include High De Infrared, North Navigation, and Aerospace Rainbow [3][45]. - Reform and overseas direction: Recommended stocks include Guorui Technology and Construction Industry [3][45].

Group 1 - The Shenzhen-based Best Environment Group's chairman, Zeng Shengxue, announced plans to bring more entrepreneurs back to Hubei for investment, highlighting that the total investment from the Shenzhen Hubei Chamber of Commerce has exceeded 200 billion yuan [1] - Multiple projects in new materials and low-altitude economy sectors have been successfully introduced to Hubei, showcasing the commitment of Hubei entrepreneurs to invest in their hometown [5] - The chairman of Wuhan Dier Laser Technology Co., Ltd., Li Zhigang, emphasized the importance of returning to Wuhan for entrepreneurship, noting that the company has grown to become a global leader in precision laser micro-nano processing equipment with a market share of over 80% [6] Group 2 - Wei Peng Holdings Group's chairman, Yu Peng, stated that the company's investment in Hubei has surpassed 10 billion yuan, and they plan to open a new branch of Shengan Securities in Wuhan, increasing the total number of branches to three [8] - Huang Li, chairman of Wuhan Gaode Infrared Co., Ltd., shared that his company relocated from Shenzhen to Wuhan in 2022, becoming a leading enterprise in Hubei's low-altitude economy and collaborating on a national benchmark project [10] Group 3 - Since the beginning of the year, Wuhan has organized over 200 events to attract Hubei entrepreneurs back for investment, establishing cooperation mechanisms with key business associations and setting up regional liaison stations [12] - The "Hubei Entrepreneur Home" was established in Beijing, and the "Hubei Entrepreneur Return Action Plan (2025-2027)" aims to sign at least 200 new investment projects annually, with a target of 100 projects being implemented each year [12]

Investment Rating - Buy (Maintain Rating) [1] Core Viewpoints - The recent military conflict between India and Pakistan has highlighted the effectiveness of Chinese military equipment, particularly in the context of military exports [2][5] - The global arms trade is expected to enter a new cycle of prosperity due to increased demand driven by geopolitical tensions, with China's military exports likely to gain market share [3][4][26] Summary by Sections 1. Overview of the India-Pakistan Conflict - The conflict began with a terrorist attack in India, leading to India's "Operation Zhusha" and Pakistan's counteraction, showcasing the effectiveness of Chinese military equipment used by Pakistan [13][20] 2. Impact on the Military Industry - Global demand for military equipment is increasing, with military spending projected to reach $2.72 trillion in 2024, a 9.4% increase [23][26] - The arms trade saw a significant increase of 29% in 2022, with a projected export value of $28.938 billion TIV in 2024 [3][26] 3. China's Military Export Potential - China's military exports have surged from $1.358 billion TIV in 2021 to $2.982 billion TIV in 2023, with 45% of exports going to Pakistan [4][33] - The report emphasizes the transition of Chinese military equipment into a "DEEPSEEK" era, indicating advancements in technology and capabilities [42] 4. Investment Recommendations - The report suggests focusing on seven key areas for military trade-related investments: aviation equipment, missile systems, radar systems, drones, low-cost munitions, ground equipment, and communication data links [5][67]