- 关于 广东连越律师事务所 中电科普天科技股份有限公司 2025 年第四次临时股东会 之 法律意见书 信 创 任 造 价 值 广东连越律师事务所 二〇二五年十二月二十九日 在共营窗不出区原中北京上等十 广东连越律师事务所 关于 中申科普天科技股份有限公司 2025 年第四次临时股东会 之 法律意见书 致：中电科普天科技股份有限公司 中电科普天科技股份有限公司(以下简称"公司")于2025年 12 月 29 日召开了 2025 年第四次临时股东会(以下简称"本次股东 会"）。广东连越律师事务所(以下简称"连越")受公司的委托, 指派罗其通律师、邵亚冉律师(以下简称"连越律师")出席公司本 次股东会并对本次股东会的相关事项进行见证。 连越及连越律师依据《中华人民共和国证券法》《律师事务所从 · 事证券法律业务管理办法》等规定及本法律意见书出具日以前已经发 生或者存在的事实,严格履行了法定职责,遵循勤勉尽责和诚实信用 原则,进行了充分的核查验证,保证本法律意见所认定的事实真实、 准确、完整,所发表的结论性意见合法、准确,不存在虚假记载、误 导性陈述或者重大遗漏,并承担相应法律责任。 本法律意见书不对股东会所审议的 ...

证券日报网讯 12月29日，普天科技在互动平台回答投资者提问时表示，公司始终紧跟国家卫星互联网 战略部署，积极推进卫星通信相关产品研制、卫星运营商技术服务等业务布局。公司重大信息敬请以指 定信息披露媒体发布的公告为准。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the news is that Putian Technology's stock has shown significant performance, with a year-to-date increase of 55.03% and a market capitalization of 22.601 billion yuan as of December 26 [1] - As of December 26, Putian Technology's stock price was 33.21 yuan per share, with a trading volume of 9.25 billion yuan and a turnover rate of 4.16% [1] - The company has experienced a net outflow of main funds amounting to 31.2169 million yuan, with large orders showing a buy of 203 million yuan and a sell of 214 million yuan [1] Group 2 - Putian Technology, established on November 19, 1994, and listed on January 28, 2011, is based in Guangzhou, Guangdong Province, and specializes in information network construction services and communication-related products [2] - The company's main business revenue composition includes public communication (36.06%), private communication and smart applications (35.41%), and intelligent manufacturing (28.53%) [2] - As of September 30, 2025, Putian Technology reported a revenue of 3.152 billion yuan, a year-on-year decrease of 7.82%, and a net profit attributable to shareholders of 17.5567 million yuan, down 3.80% year-on-year [2] Group 3 - Since its A-share listing, Putian Technology has distributed a total of 490 million yuan in dividends, with 130 million yuan distributed in the last three years [3] - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 20.1067 million shares, an increase of 4.9016 million shares from the previous period [3] - Changcheng Jiujia Innovation Growth Mixed A (004666) is a new shareholder, holding 7.7 million shares as the ninth largest circulating shareholder [3]

Group 1 - The company, Putian Technology (002544), confirmed that it uses PCB drilling needles sourced from qualified and reputable partners in the industry [1] - The selected partners are capable of fully meeting the production and product quality requirements [1]

Core Insights - The communication services sector experienced a slight increase of 0.07% on December 25, with Sanwei Communication leading the gains [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] Stock Performance - Sanwei Communication (002115) closed at 12.40, with a significant increase of 10.03% and a trading volume of 1.4252 million shares, amounting to a transaction value of 1.7 billion [1] - Other notable performers included: - Bee Assistant (301382) at 34.58, up 4.06% with a transaction value of 503 million [1] - Putian Technology (002544) at 32.50, up 2.85% with a transaction value of 1.193 billion [1] - Huichang Communication (300578) at 20.38, up 2.21% with a transaction value of 183 million [1] Fund Flow Analysis - The communication services sector saw a net outflow of 18.6754 million from institutional investors, while retail investors contributed a net inflow of 202 million [2] - Key stocks in terms of fund flow included: - Sanwei Communication with a net inflow of 400 million from institutional investors, but a net outflow of 196 million from speculative funds [3] - Putian Technology had a net inflow of 101 million from institutional investors, with significant outflows from both speculative and retail investors [3] - Bee Assistant recorded a net inflow of 47.4025 million from institutional investors, but outflows from speculative and retail investors [3]

今年以来普天科技已经1次登上龙虎榜，最近一次登上龙虎榜为12月11日，当日龙虎榜净买入8866.65万 元；买入总计4.21亿元 ，占总成交额比16.40%；卖出总计3.32亿元 ，占总成交额比12.95%。 资料显示，中电科普天科技股份有限公司位于广东省广州市花都区新雅街道凤凰南路33号，成立日期 1994年11月19日，上市日期2011年1月28日，公司主营业务涉及信息网络建设技术服务及通信类印制电 路板的生产及销售;通信解决方案和通信设备制造、通信工程监理、电力自动化及卫星导航运营服务等 内容。主营业务收入构成为：公网通信36.06%，专网通信与智慧应用35.41%，智能制造28.53%。 普天科技所属申万行业为：通信-通信服务-通信工程及服务。所属概念板块包括：卫星导航、北斗导 航、商业航天（航天航空）、军工信息化、军民融合等。 12月24日，普天科技盘中上涨2.08%，截至10:55，报31.96元/股，成交4.51亿元，换手率2.10%，总市值 217.50亿元。 资金流向方面，主力资金净流入3189.96万元，特大单买入3109.05万元，占比6.90%，卖出1436.63万 元，占比3.19% ...

证券之星消息，12月22日国企改革板块较上一交易日上涨0.47%，同大股份领涨。当日上证指数报收于 3917.36，上涨0.69%。深证成指报收于13332.73，上涨1.47%。国企改革板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300321 | 同大股份 | 52.97 | 19.90% | 11.01万 | 5.73亿 | | 002523 | 大桥起車 | 4.35 | 10.13% | 53.40万 | 2.28亿 | | 000070 | 特发信息 | 12.94 | 10.03% | 94.72万 | 12.14亿 | | 002320 | 海峡股份 | 12.62 | 10.03% | 67.90万 | 8.43亿 | | 000551 | 创元科技 | 12.53 | 10.01% | 68.53万 | 8.42亿 | | 601888 | 中国中免 | 91.09 | 10.00% | 88.75万 | 78.34亿 | | 002046 | 国机精 ...

Core Insights - Puhua Technology's stock increased by 5.19% to 32.83 CNY per share, with a trading volume of 955 million CNY and a turnover rate of 4.42%, resulting in a total market capitalization of 22.342 billion CNY [1] Company Overview - Zhongdian Ke Puhua Technology Co., Ltd. is located in Huadu District, Guangzhou, Guangdong Province, established on November 19, 1994, and listed on January 28, 2011 [1] - The company's main business includes information network construction technology services and the production and sales of communication printed circuit boards, communication solutions, communication equipment manufacturing, communication engineering supervision, power automation, and satellite navigation operation services [1] - The revenue composition of the main business is as follows: public communication 36.06%, private network communication and smart applications 35.41%, and intelligent manufacturing 28.53% [1] Shareholder Insights - Changcheng Fund's Changcheng Jiujia Innovation Growth Mixed A (004666) entered the top ten circulating shareholders of Puhua Technology in the third quarter, holding 7.7 million shares, which is 1.13% of the circulating shares [2] - The estimated floating profit for today is approximately 12.474 million CNY [2] - The fund was established on July 5, 2017, with a latest scale of 1.974 billion CNY, and has achieved a year-to-date return of 55.83%, ranking 707 out of 8100 in its category [2] Fund Management - The fund manager of Changcheng Jiujia Innovation Growth Mixed A is You Guoliang, who has been in the position for 6 years and 58 days [3] - The total asset size of the fund is 4.262 billion CNY, with the best return during the tenure being 179.78% and the worst return being -15.93% [3] Fund Holdings - Changcheng Jiujia Innovation Growth Mixed A holds 7.7 million shares of Puhua Technology, accounting for 6.73% of the fund's net value, making it the third-largest holding [4] - The estimated floating profit for today is approximately 12.474 million CNY [4]

Investment Rating - The report provides a "Buy" rating for the industry, predicting that the stock price will outperform the Shanghai Composite Index by 15% or more within six months [56]. Core Insights - The global commercial space launch sector is undergoing a profound cost restructuring, shifting from a one-time manufacturing model to a reusable cost model. Traditional rockets have a hardware manufacturing cost share of about 67%, while emerging commercial rockets reduce this to around 24% through reusable designs [3][27]. - The launch market from 2024 to 2025 is expected to exhibit an absolute oligopoly, with launch service providers monopolizing orders and exerting control over the supply chain [5][42]. Summary by Sections 1. Cost Structure of Commercial Rockets - The cost breakdown of rockets shows that the first stage accounts for 60-70% of total costs, with engines being the most significant component, comprising over 50% of the first stage cost [13][27]. - The Falcon 9 rocket's cost structure indicates that the marginal cost of reuse is significantly lower than that of traditional rockets, with costs dropping to approximately $2,720 per kilogram in reusable mode [27][28]. 2. Industry Chain Benefits from Launch Volume - Launch service providers benefit directly from increased launch frequency and larger contracts, with revenue correlating to the number of launch tasks [4][35]. - The demand for reusable components and high-frequency replacement parts is expected to grow, driven by the need for higher reliability and maintenance of reusable systems [36]. 3. Investment Recommendations - Beneficiary stocks include companies involved in rocket manufacturing and space computing, such as Aerospace Power, Superjet, and West Materials, among others [6][52][53].

每经AI快讯，普天科技（SZ 002544，收盘价：32.5元）12月12日晚间发布公告称，公司第七届第十三 次董事会会议于2025年12月12日以通讯表决方式召开。会议审议了《关于召开公司2025年第四次临时股 东会的议案》等文件。 截至发稿，普天科技市值为221亿元。 每经头条（nbdtoutiao）——实施城乡居民增收计划、降准降息等工具灵活高效运用、增加普通高中学 位……深度解读中央经济工作会议 （记者 王瀚黎） 2025年1至6月份，普天科技的营业收入构成为：通信服务业占比100.0%。 ...