证券代码：002465 证券简称：海格通信 公告编号：2025-028 号 广州海格通信集团股份有限公司 关于向特定对象发行股票部分限售股份解除限售上市流通 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 （有限合伙） 国华卫星应用产业基金（南京）合 伙企业（有限合伙） 特别提示： 份为公司 2023 年度向特定对象发行的股票，解除限售股份的数量为 46,155,648 股，占公司总股本的 1.8597%。 一、向特定对象发行股票及相关股本变动情况 经中国证券监督管理委员会《关于同意广州海格通信集团股份有限公司向特 定对象发行股票注册的批复》（证监许可【2023】1597 号）批复，公司向包括 控股股东广州数字科技集团有限公司（以下简称"广州数科集团"）及其全资子 公司广州数字科技产业投资集团有限公司（原广州广电平云产业投资有限公司， 以下简称 "数科产投"）在内的 11 名特定对象发行人民币普通股（A 股）177,385,277 股，新增股份已于 2023 年 11 月 20 日在深圳证券交易所上市。 本次发行股份为有限售条件流通股，公司控股股 ...

广州海格通信集团股份有限公司 关于向特定对象发行股票部分限售股份解除限售上市流通 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、广州海格通信集团股份有限公司（以下简称"公司"）本次解除限售股 份为公司 2023 年度向特定对象发行的股票，解除限售股份的数量为 46,155,648 股，占公司总股本的 1.8597%。 2、公司本次解除限售股份的上市流通日期为 2025 年 5 月 20 日。 证券代码：002465 证券简称：海格通信 公告编号：2025-028 号 一、向特定对象发行股票及相关股本变动情况 经中国证券监督管理委员会《关于同意广州海格通信集团股份有限公司向特 定对象发行股票注册的批复》（证监许可【2023】1597 号）批复，公司向包括 控股股东广州数字科技集团有限公司（以下简称"广州数科集团"）及其全资子 公司广州数字科技产业投资集团有限公司（原广州广电平云产业投资有限公司， 以下简称"数科产投"）在内的11名特定对象发行人民币普通股（A股）177,385,277 股，新增股份已于 2023 年 11 月 20 ...

一、2023 年度向特定对象发行股票及相关股本变动情况 中信证券股份有限公司 关于广州海格通信集团股份有限公司 向特定对象发行股票部分限售股份解除限售上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为广州海 格通信集团股份有限公司（以下简称"海格通信"或"公司"）2023 年度向特定 对象发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《深圳证 券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主 板上市公司规范运作》等有关规定，对海格通信向特定对象发行股票部分限售股 份解除限售上市流通事项进行了核查，具体核查情况如下： 经中国证券监督管理委员会《关于同意广州海格通信集团股份有限公司向特 定对象发行股票注册的批复》（证监许可[2023]1597 号）批复，公司向包括控股 股东广州数字科技集团有限公司（以下简称"广州数科集团"）及其全资子公司 广州数字科技产业投资集团有限公司（原广州广电平云产业投资有限公司，以下 简称"数科产投"）在内的 11 名特定对象发行人民币普通股（A 股）177,385,277 股，新增股份已于 2023 年 11 月 ...

Core Viewpoint - The military industry sector is experiencing significant growth, with multiple stocks hitting the daily limit and related ETFs showing strong performance, indicating a bullish sentiment in the market [1][3]. ETF Market Performance - Military-related ETFs, including the Military Leader ETF (512710), have seen substantial gains, with six ETFs rising over 4% in half a day [1][2]. - The Military ETF (512660) recorded a half-day trading volume of 1.548 billion yuan, highlighting its active trading status [1][8]. ETF Share Growth - In less than two months, the Military Leader ETF (512710) and Military ETF (512660) have increased their shares by over 2 billion [3]. - The current technological revolution and industrial transformation are driving demand for advanced military technologies, with a focus on smart technologies, unmanned equipment, and big data applications [3]. Index and ETF Details - The Military Leader ETF (512710) has a scale of 12.902 billion shares and a half-day trading amount of 1.163 billion yuan, tracking the CSI Military Leader Index, which selects 30 leading military companies [4]. - The National Defense ETF (512670) has a scale of 5.278 billion shares and a half-day trading amount of 444 million yuan, tracking the CSI National Defense Index, which includes up to 50 stocks from major military groups [6]. Key Weight Stocks - The top-weighted stocks in the CSI Military Leader Index include: - AVIC Optical (002179) - 9.72% - AVIC Shenyang Aircraft (600760) - 9.53% - Aero Engine Corporation of China (600893) - 8.53% [5]. - The top-weighted stocks in the CSI National Defense Index include: - AVIC Optical (002179) - 6.93% - AVIC Shenyang Aircraft (600760) - 6.79% - Aero Engine Corporation of China (600893) - 6.08% [7].

Group 1 - The China Securities High-end Equipment Sub-index 50 has decreased by 2.46% as of May 9, 2025, with mixed performance among constituent stocks, led by Aerospace Nanhai up 1.50% [1] - The High-end Equipment ETF (159638) has seen a cumulative increase of 8.55% over the past two weeks as of May 8, 2025 [1] - The High-end Equipment ETF recorded a turnover of 3.05% and a transaction volume of 36.1554 million yuan, with an average daily transaction volume of 97.8379 million yuan over the past week [3] Group 2 - The latest scale of the High-end Equipment ETF reached 1.237 billion yuan, marking a new high for the year, with the latest share count at 1.547 billion, also a new high for the past year [3] - The net inflow of funds into the High-end Equipment ETF was 30.633 million yuan [3] - The top ten weighted stocks in the China Securities High-end Equipment Sub-index 50 account for 45.74% of the index, including companies like AVIC Optoelectronics and AVIC Shenyang Aircraft [3] Group 3 - Institutions forecast a turning point in military industry orders by 2025, driven by new technologies aimed at enhancing equipment performance or reducing costs, and new markets from military trade and technology conversion [3] - Huatai Securities indicates that China has entered a phase of "self-research equipment as the main" military trade net surplus, with significant growth expected in domestic demand from 2025 to 2027 [3] - Investors can consider the China Securities High-end Equipment Sub-index 50 ETF linked fund (018028) to capitalize on industry rotation opportunities [3]

Summary of Haige Communication Conference Call Company Overview - **Company**: Haige Communication - **Industry**: Military and Civil Communication, Satellite Navigation Key Points and Arguments Military Business Outlook - Haige Communication maintains a leading position in the military sector in 2025, despite procurement pressures in 2024. Initial signs of order recovery have been observed in early 2025. Full recovery of orders will take time, impacting revenue and profitability in the military segment [2][4][5] - The company has reclassified its business into three categories: communication, navigation, and innovation, with a focus on low-altitude, low-orbit unmanned systems and AI technology. The technological leadership in unmanned systems is a critical evaluation metric [4][10] Civil Business Expansion - Future civil business will focus on the BeiDou satellite navigation system and low-orbit satellite constellations, particularly in the smartphone and vehicle networking markets, which present larger market opportunities compared to previous military operations. Products include navigation and communication functionalities [3][10] Strategic Partnerships - Collaboration with China Mobile began at the end of 2023, enhancing ties and advancing satellite chip projects for smartphones and vehicle networking solutions. This partnership is expected to significantly drive growth between 2026 and 2027 [2][6] International Market Development - Haige Communication has been expanding its international market presence since 2012, with several billion yuan in overseas export orders. Recent international events, such as tensions between China and India, may catalyze overseas demand and accelerate business growth in low-altitude and satellite communication sectors [2][7] Impact of Satellite Internet - The development of satellite internet is expected to significantly benefit Haige's terminal-side business, with low-orbit satellite networking expected to accelerate in the second half of 2026. The company will also benefit from the completion of the BeiDou network, with a focus on commercial partnerships with smartphone manufacturers, operators, and automotive companies [2][8] Investment Considerations - Investors should monitor several factors: military order recovery, civil navigation and communication product development, strategic partnerships, international market catalysts, and progress in low-orbit satellite networking and BeiDou commercial cooperation. These factors could drive stock price increases [2][10] Business Reclassification - The company has re-evaluated its business segments, now categorized into wireless communication, BeiDou navigation, aerospace, and digital ecosystems, with a new classification into communication, navigation, and innovation categories [10][11] Achievements in Unmanned Systems - Haige Communication has achieved notable success in unmanned systems, ranking highly in industry competitions and gaining recognition from various institutions and listed companies for its systems [11][13]

Core Viewpoint - The company, Guangzhou Haige Communication Group Co., Ltd., has announced a share repurchase plan aimed at utilizing its own funds and special loans for employee stock ownership plans or equity incentives, with a total repurchase amount between RMB 200 million and RMB 400 million [2]. Group 1 - The company held its sixth board meeting on March 28, 2025, and the annual shareholders' meeting on April 25, 2025, where the share repurchase proposal was approved [2]. - The repurchase price is set at a maximum of RMB 17.60 per share, with the actual number of shares to be repurchased determined upon completion of the repurchase or expiration of the implementation period [2]. - The implementation period for the repurchase is up to 12 months from the date of approval at the shareholders' meeting [2]. Group 2 - As of April 30, 2025, the company has not yet initiated the share repurchase [3]. - The company will disclose the progress of the share repurchase in accordance with relevant regulations and the company's repurchase plan [3].

根据《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关 规定，公司应当在回购期间每个月的前三个交易日内披露截至上月末的回购进展 情况。现将公司截至上月末的回购股份进展情况公告如下： 截至 2025 年 4 月 30 日，公司暂未实施股份回购。公司后续将按照相关规定 及公司回购股份方案，根据市场情况在回购期限内实施本次回购方案，并按照相 关规定及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 广州海格通信集团股份有限公司（以下简称"公司"）分别于 2025 年 3 月 28 日召开第六届董事会第二十六次会议、2025 年 4 月 25 日召开 2024 年年度股 东大会，审议通过了《关于回购公司股份方案的议案》，公司将使用自有资金和 回购专项贷款以集中竞价交易方式回购公司部分社会公众股股份，用于员工持股 计划或者股权激励。本次回购金额不低于人民币 20,000 万元（含），且不超过人 民币 40,000 万元（含），回购价格不超过人民币 17.60 元/股（ ...

Investment Rating - The report maintains a "Recommended" rating for the company [5][3]. Core Views - The company experienced a revenue decline of 9.15% year-on-year in Q1 2025, with a revenue of 1.04 billion yuan, while the net profit attributable to shareholders increased by 7.25% to 46 million yuan. In 2024, the company reported a revenue of 4.92 billion yuan, down 23.17%, and a net profit of 53 million yuan, down 92.44% [1][2]. - The company faced challenges in 2024 due to industry client adjustments and cyclical fluctuations, but Q1 2025 showed signs of recovery with a net profit reversal. The company has increased its R&D investments in emerging fields such as BeiDou, unmanned systems, satellite internet, and AI [1][2][3]. - The company is deepening its involvement in national satellite internet projects, enhancing its competitive edge. It has completed multiple product in-orbit experiments and expanded its business scope to include network operation and maintenance services [3][2]. Financial Summary - In 2024, the company's gross profit margin was 28.79%, significantly impacted by Q4, which had a gross profit margin of 24.91%. The gross profit margin for Q1 2025 improved to 27.37%, indicating a recovery trend [2][4]. - The company’s R&D expenses reached 945 million yuan in 2024, a year-on-year increase of 1.23%, with an R&D expense ratio of 19.22% [2][4]. - The forecast for the company's financial performance shows expected revenues of 6.74 billion yuan in 2025, with a growth rate of 37%, and net profits of 556 million yuan, reflecting a significant recovery from 2024 [4][10].

Group 1 - The Zhongzheng High-end Equipment Sub-index 50 has decreased by 0.22% as of April 29, 2025, with mixed performance among constituent stocks [1] - The leading stocks include Guangdian Co., which rose by 6.62%, and Gaode Hongwai, which increased by 4.90% [1] - The High-end Equipment ETF (159638) has seen a turnover of 1.64% with a transaction volume of 18.1359 million yuan [1] Group 2 - The latest scale of the High-end Equipment ETF has reached 1.115 billion yuan, with a total of 1.522 billion shares, marking a new high for the year [3] - The ETF has experienced continuous net inflows over the past three days, totaling 12.5652 million yuan [3] - The ETF closely tracks the Zhongzheng High-end Equipment Sub-index 50, focusing on leading companies in aerospace, military equipment, and satellite navigation sectors, and is expected to benefit from the low-altitude economy trend [3] Group 3 - Guoxin Securities indicates that the low-altitude economy supply chain in China has formed a comprehensive development pattern, with significant market potential [4] - The core of the low-altitude economy industry chain is centered around eVTOL and drone manufacturing, with rapid technological iterations and capacity expansion [4] - The market space for eVTOL power systems is estimated to reach 100 billion yuan, based on a 250 billion yuan market size for complete machine sales [4]