Core Viewpoint - Guangqi Technology (002625.SZ) successfully passed the national CNAS expansion qualification recognition for its metamaterials testing center on August 28, 2025, enhancing its testing capabilities across various domains [1] Summary by Categories Testing Capabilities - The recognition expands the testing capabilities to include composite materials, environmental testing, geometric testing, electromagnetic property testing, non-destructive testing, thermal testing, and coating capabilities [1] Calibration and Measurement - The metamaterials testing center also received CNAS recognition for its metrology testing capabilities, covering a total of 12 calibration procedures or standards in the categories of mechanics and thermodynamics [1]

二、基本情况 证券代码：002625 证券简称：光启技术 公告编号：2025-068 光启技术股份有限公司 关于全资子公司测试中心通过国家CNAS扩项资质认 定的自愿性信息披露公告 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。 一、背景情况 2023 年 7 月，光启技术股份有限公司（以下简称"公司"）全资子公司深 圳光启超材料技术有限公司（以下简称"光启超材料"）收到中国合格评定国家 认可委员会（CNAS）下发的实验室认可证书（注册号：CNAS L18631，生效日 期：2023 年 7 月 7 日，截止日期：2029 年 7 月 6 日）。具体内容详见公司披露 于《上海证券报》《证券时报》《证券日报》及巨潮资讯网（http://www.cninfo.com.cn） 上的《关于全资子公司与中汽研汽车检验中心（天津）有限公司成立汽车紧缩场 联合创新实验室的自愿性信息披露公告》（公告编号：2023-064）。 2024 年 8 月，光启超材料测试中心顺利通过国家 CNAS 扩项资质认定。认 可检测能力范围从最初的"超材料电磁特性试验"能力，进一步覆盖到力学性能 ...

Summary of Key Points Core Viewpoint - On August 29, Guangqi Technology executed a block trade of 5.92 million shares, amounting to 312 million yuan, which represented 9.06% of the total trading volume for the day, with a transaction price of 52.71 yuan, reflecting a 3% discount compared to the market closing price of 54.34 yuan [1]. Trading Details - The block trade on August 29 involved the following details: - Transaction price: 52.71 yuan - Total volume: 592,000 shares - Total transaction value: 312 million yuan - Percentage of total trading volume: 9.06% [1] - Specific trading data includes: - Buyer: Huafu Securities, with a volume of 294,000 shares and a transaction value of approximately 154.97 million yuan [2] - Buyer: China Merchants Securities, with a volume of 160,300 shares and a transaction value of approximately 84.49 million yuan [2] - Buyer: Lian Securities, with a volume of 137,700 shares and a transaction value of approximately 72.58 million yuan [2]

Summary of Key Points Core Viewpoint - On August 28, 2023, Guangqi Technology experienced significant trading activity on the block trading platform, with a total transaction volume of 5.977 million shares and a total transaction value of 320 million yuan, reflecting a discount of 3.01% compared to the closing price of the day [2]. Trading Activity - The stock had a total of 10 block trades in the past three months, amounting to 815 million yuan [2]. - The closing price of Guangqi Technology on the reporting day was 55.17 yuan, with a slight increase of 0.24% and a daily turnover rate of 2.96% [2]. - The total trading volume for the day was 3.497 billion yuan, with a net outflow of 250 million yuan in main funds [2]. - Over the past five days, the stock has increased by 14.46%, while the total net outflow of funds during this period was approximately 41.38 million yuan [2]. Margin Financing Data - The latest margin financing balance for Guangqi Technology was 6.771 billion yuan, with an increase of 35.11 million yuan over the past five days, representing a growth rate of 0.52% [2].

Group 1 - On August 28, Guangqi Technology executed a block trade of 5.977 million shares, with a transaction value of 320 million yuan, accounting for 8.38% of the total trading volume for the day [1] - The transaction price was 53.51 yuan, representing a discount of 3.01% compared to the market closing price of 55.17 yuan [1]

Core Insights - The report highlights the rapid development of the AI industry in China, driven by the government's "Artificial Intelligence+" initiative, which sets ambitious goals for AI integration across various sectors by 2035 [5] - The chemical raw materials sector is experiencing growth due to increased demand for AI servers, with a focus on high-frequency and high-speed copper-clad laminate materials [6] - The pharmaceutical company Lifan Pharmaceutical is set to launch a new ADHD treatment, with significant increases in R&D investment [7] - Runfeng Co. has reported substantial growth in operating performance, driven by global operations [8] - Times New Materials has seen a rise in revenue and profit, with new materials becoming a key growth area [12] - Guangqi Technology is experiencing rapid growth in its metamaterials business, with steady progress in production base construction [15] - Changrun Co. has improved profit margins significantly, driven by product diversification and strong overseas contributions [17] - Longcheng Securities has shown comprehensive improvement in performance, with investment business driving growth [24] - Baofeng Energy's projects in Inner Mongolia are contributing to revenue growth, with ongoing projects being actively advanced [28] Industry Commentary - The "Artificial Intelligence+" policy aims for deep integration of AI in six key areas by 2027, with a target of over 90% application penetration by 2030 [5] - The new materials sector is benefiting from the rising demand for AI servers, with the global AI server market projected to grow significantly [6] - The pharmaceutical industry is seeing innovation with new drug approvals and increased R&D spending, particularly in ADHD treatments [7] - The agricultural chemicals market is recovering, with a focus on high-margin products and global market expansion [10] - The wind power sector is expected to maintain high growth, driven by new installations and international collaborations [12] - The metamaterials market is expanding, with increasing demand for advanced materials in various applications [15] - The automotive parts industry is adapting to market changes, with a focus on product diversification and international production capabilities [17] Company-Specific Insights - Lifan Pharmaceutical's revenue for H1 2025 was 732 million yuan, with a net profit of 90.23 million yuan, reflecting a 16.53% increase [7] - Runfeng Co. anticipates revenues of 1.796 billion yuan in 2025, with net profits projected to reach 198 million yuan [9] - Times New Materials reported H1 revenue of 9.256 billion yuan, with a net profit of 303 million yuan, indicating a 36.66% increase [12] - Guangqi Technology's H1 revenue was 943 million yuan, with a net profit of 386 million yuan, showing a 6.75% increase [15] - Changrun Co. achieved H1 revenue of 1.4 billion yuan, with a net profit of 107 million yuan, despite a slight decline in revenue [17] - Longcheng Securities reported H1 revenue of 2.859 billion yuan, with a net profit of 1.385 billion yuan, reflecting a 91.92% increase [26] - Baofeng Energy's H1 revenue reached 22.82 billion yuan, with a 35% year-on-year increase [28]

Group 1 - The company received notification from its controlling shareholder, Tibet Yingbang Industrial Development Co., Ltd., regarding the release of part of its pledged shares [1] - As of the announcement date, the remaining pledged shares held by the controlling shareholder do not pose a risk of being forced to sell or freeze, ensuring no change in the company's actual control [1] - The company will continue to monitor the shareholder's pledge situation and related risks, adhering to legal disclosure requirements [1] Group 2 - The announcement includes a reference to the securities pledge registration certificate for the partial release of the pledge [2]

Core Viewpoint - The announcement from Guangqi Technology indicates that its controlling shareholder, Tibet Yingbang Industrial Development Co., Ltd., has released a portion of its pledged shares, totaling 33,665,435 shares [1] Group 1 - Guangqi Technology received notification regarding the release of pledged shares from its controlling shareholder [1] - The number of shares released from pledge amounts to 33,665,435 [1]

Market Overview - The market experienced increased volatility on August 27, with the Shanghai Composite Index closing at 3800.35 points and the ChiNext Index retreating nearly 3% [1] - Trading volume surged to 3.2 trillion yuan, marking the second-highest volume in history [1] Defense and Military Industry - The defense and military sector saw a significant drop in the afternoon, with the high-profile Defense and Military ETF (512810) falling by 1.87% and experiencing a volatility of 2.67% [1] - Notably, the trading volume for the ETF surged to 194 million yuan, the highest in five months, with 12 consecutive trading days achieving over 100 million yuan in transactions [1] - The ETF covers 79 military stocks, with only 6 stocks rising, while major stocks like China Great Wall and Inner Mongolia First Machinery fell over 4% [3] Earnings and Performance - The defense and military sector's earnings have shown significant recovery, with 39 out of 50 ETF component stocks reporting profits in the first half of 2025, and half of them showing positive net profit growth [5] - Noteworthy is the 30% year-on-year growth in net profit for 11 stocks, with Aerospace Science and Technology leading with a staggering increase of over 21 times [5] Upcoming Events and Market Sentiment - Analysts suggest that the recent market adjustments are influenced by external risks, particularly long-term bond risks, and the recent significant gains in the A-share market [4] - The upcoming military parade is expected to catalyze interest in the defense sector, with expectations of new equipment being showcased [6] - Historical data indicates that the defense and military sector typically experiences excess returns before major military parades, with past events showing significant index gains [6]

Core Insights - The company reported a revenue of 943 million yuan for the first half of 2025, representing a year-on-year growth of 10.70% [1] - The net profit attributable to shareholders was 386 million yuan, up 6.75% year-on-year, while the net profit after deducting non-recurring items was 376 million yuan, reflecting a growth of 5.42% [1] - Total liabilities increased by 68.40% to 1.427 billion yuan, while cash and cash equivalents decreased by 21.59% to 449.9 million yuan [1] Business Performance - The metamaterials business experienced rapid growth, with revenues reaching 936 million yuan, a year-on-year increase of 47.35% [2] - The overall revenue from the metamaterials industry was 938 million yuan, showing a growth of 10.34% [2] - The company is the first and only domestic enterprise to achieve large-scale mass production across the entire metamaterials industry chain, highlighting its competitive advantage [2] Production Capacity and Future Outlook - The construction of production bases is progressing steadily, which is expected to alleviate capacity bottlenecks [2] - The demand for metamaterials is increasing due to the dual needs for quantity and quality in the development of new equipment and the upgrade of existing equipment [2] - With the completion of the second phase of the 709 base and the ongoing construction of the 905 and 906 bases, the company's product delivery capability and production efficiency are anticipated to improve significantly [2] Investment Projections - The company is projected to have EPS of 0.34, 0.44, and 0.55 for the years 2025 to 2027, with corresponding PE ratios of 153.6, 119.8, and 95.6 based on the closing price of 52.99 yuan on August 26 [3]