本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 证券代码：002651 证券简称：利君股份 公告编号：2025-027 成都利君实业股份有限公司 关于参加四川辖区2025年投资者网上集体接待日及半年度 报告业绩说明会活动的公告 成都利君实业股份有限公司董事会 2025 年 9 月 9 日 为进一步加强与投资者的互动交流，成都利君实业股份有限公司（以下简称"公司"） 将参加由四川省上市公司协会、深圳市全景网络有限公司联合举办的"四川辖区2025年 投资者网上集体接待日及半年度报告业绩说明会"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" （https://rs.p5w.net）参与本次互动交流，活动时间为2025年9月12日（周五）14:00 —17:00。届时公司高管将在线就公司2024年度及2025年半年度业绩、公司治理、发展 战略、经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与！ 特此公告。 ...

Core Viewpoint - The aviation equipment sector experienced a significant decline, with a drop of 6.55% on September 3, led by Morningstar Aviation's sharp fall [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] - Morningstar Aviation (300581) saw the largest decline, closing at 18.56 with a drop of 14.39% and a trading volume of 468,700 shares [1] - Other notable declines included Hengyu Xintong (300965) down 13.66%, and Zhong Wuyunji (688297) down 13.42% [1] Group 2: Trading Volume and Value - Morningstar Aviation had a trading value of 925 million yuan, while Hengyu Xintong had a trading value of 197 million yuan [1] - Zhong Wuyunji recorded a trading value of 1.275 billion yuan, indicating significant trading activity despite the price drop [1] Group 3: Capital Flow - The aviation equipment sector saw a net outflow of 3.863 billion yuan from major funds, while retail investors contributed a net inflow of 3.455 billion yuan [2] - Speculative funds recorded a net inflow of 408 million yuan, indicating a mixed sentiment among different investor types [2]

Core Viewpoint - The aviation equipment sector experienced a slight increase of 0.52% on August 29, with Chaotuo Aerospace leading the gains. The Shanghai Composite Index rose by 0.37% to close at 3857.93, while the Shenzhen Component Index increased by 0.99% to 12696.15 [1]. Group 1: Stock Performance - Chaotuo Aerospace (688237) closed at 46.23, up 10.33% with a trading volume of 47,500 shares and a transaction value of 211 million yuan [1]. - Lijun Co., Ltd. (002651) closed at 15.00, up 6.76% with a trading volume of 810,600 shares and a transaction value of 1.178 billion yuan [1]. - Hengyu Xintong (300965) closed at 80.20, up 5.51% with a trading volume of 41,000 shares and a transaction value of 319 million yuan [1]. - Other notable performers include Shengnan Technology (837006) up 4.64%, Chenxi Aviation (300581) up 4.18%, and Jiachitech (688708) up 4.03% [1]. Group 2: Capital Flow - The aviation equipment sector saw a net outflow of 300 million yuan from main funds, while retail funds experienced a net inflow of 379 million yuan. Additionally, there was a net outflow of 78.9368 million yuan from individual investors [3].

Group 1 - Military stocks experienced significant afternoon gains, with North China Longyun rising over 10% [1] - Other companies such as Great Wall Industry and AVIC Chengfei increased by more than 5% [1] - Additional stocks that saw upward movement include Tianqin Equipment, Lijun Shares, Jieqiang Equipment, Inner Mongolia First Machinery, Aerospace Technology, Aero Engine Corporation of China, and AVIC Xi'an Aircraft Industry [1]

Group 1 - The stock price of Lijun Co., Ltd. closed at 14.73 yuan on August 26, down 0.56 yuan, a decrease of 3.66% from the previous trading day [1] - The opening price on August 26 was 14.60 yuan, with a highest price of 15.22 yuan and a lowest price of 14.44 yuan, with a trading volume of 790,943 hands and a transaction amount of 1.167 billion yuan [1] - Lijun Co., Ltd. specializes in the research, production, and sales of specialized equipment, with its products applied across various industrial sectors [1] Group 2 - On the morning of August 26, Lijun Co., Ltd. experienced a rapid rebound, with a price increase of over 2% within 5 minutes, reaching 14.79 yuan at 9:39 AM, with a transaction amount of 292 million yuan [1] - In terms of capital flow, on August 26, the net outflow of main funds was 82.8916 million yuan, accounting for 1% of the circulating market value [1] - Over the past five trading days, the cumulative net inflow of main funds was 151.0199 million yuan, representing 1.81% of the circulating market value [1]

Group 1 - As of August 25, 2025, the stock price of Lijun Co. is 15.29 yuan, down 0.59 yuan or 3.72% from the previous trading day [1] - The stock opened at 16.64 yuan, reached a high of 16.67 yuan, and a low of 15.21 yuan, with a trading volume of 1.3749 million hands and a transaction amount of 2.189 billion yuan [1] - At around 11:12 AM, the stock experienced a quick rebound, increasing over 2% within 5 minutes, reaching 16.05 yuan [1] Group 2 - Lijun Co. specializes in the research, production, and sales of specialized equipment, involving sectors such as low-altitude economy and commercial aerospace [1] - The company's total market capitalization is 15.802 billion yuan, with a circulating market value of 8.646 billion yuan [1] - On August 25, the net outflow of main funds was 179 million yuan, accounting for 2.07% of the circulating market value, while the cumulative net inflow over the past five trading days was 207 million yuan, representing 2.39% of the circulating market value [1]

Investment Rating - The report maintains a "Positive" outlook on the defense and military industry, indicating an expectation for continued upward trends in the sector [5][6]. Core Insights - The defense and military sector is entering a significant upward cycle driven by domestic demand, particularly due to military modernization efforts, which are expected to enhance growth opportunities [5]. - The global military trade landscape is evolving, with increasing demand driven by geopolitical changes, leading to a strong resonance between supply and demand in China's military exports [5]. - The report highlights the acceleration of satellite internet constellation launches, indicating a maturation of the commercial aerospace industry in China, which presents a golden opportunity for investment [5]. - Key investment targets include companies involved in next-generation equipment, precision-guided munitions, and those leveraging AI and robotics for enhanced military capabilities [5]. Market Review - Last week, the Shenwan Defense and Military Index rose by 3.07%, while the CSI Military Leaders Index increased by 3.27%. In comparison, the Shanghai Composite Index rose by 3.49%, and the CSI 300 Index increased by 4.18% [6]. - The report notes that the defense and military sector's performance ranked 12th among 31 Shenwan primary industry indices, indicating a relative underperformance compared to other sectors [6]. - The top five performing stocks in the defense and military sector last week included Chengfei Integration (up 35.53%), Zhongtian Rocket (up 28.23%), and Lijun Shares (up 23.10%) [6][13]. Valuation Changes - The current PE-TTM for the Shenwan military sector is 92.71, placing it in the upper range historically, indicating a high valuation compared to past performance [14]. - The report emphasizes that the aerospace and aviation equipment segments are currently at relatively high valuation levels since 2020 [14][18]. Key Valuation Targets - The report provides a detailed valuation table for key companies in the defense and military sector, highlighting projected net profits and PE ratios for the years 2024 to 2027 [20]. - Notable companies include AVIC Shenyang Aircraft Company with a market cap of 1,773.1 billion yuan and a projected PE of 52 for 2027 [20].

Core Viewpoint - The financial performance of Lijun Co., Ltd. (002651) for the first half of 2025 shows a significant decline in revenue and profit, indicating potential challenges in the company's operations and financial health [1][4]. Financial Performance Summary - Total revenue for the first half of 2025 was 314 million yuan, a decrease of 8.91% compared to the same period in 2024 [1]. - Net profit attributable to shareholders was 57.22 million yuan, down 31.72% year-on-year [1]. - The gross profit margin was 40.31%, a decline of 3.72% from the previous year, while the net profit margin fell to 18.21%, down 25.05% [1]. - The total of selling, administrative, and financial expenses reached 46.98 million yuan, accounting for 14.96% of revenue, an increase of 26.49% year-on-year [1]. - Earnings per share decreased to 0.06 yuan, a drop of 25.00% compared to the previous year [1]. Cash Flow and Receivables - The company reported a significant increase in accounts receivable, which accounted for 183.98% of the net profit, indicating potential liquidity issues [1][4]. - Operating cash flow per share was -0.08 yuan, a decrease of 172.31% year-on-year, reflecting reduced cash inflows from sales [1][3]. Changes in Financial Items - The construction in progress decreased by 100% as projects were transferred to fixed assets [3]. - Accounts payable increased by 73.88% due to more bank acceptance bills issued for payment [3]. - Other payables surged by 1418.5% due to cash dividends distributed to shareholders [3]. Investment Returns - The company's return on invested capital (ROIC) was 2.84%, indicating weak capital returns, with a historical median ROIC of 6.07% over the past decade [4].

Group 1 - The core viewpoint of the news is that Lijun Co., Ltd. (002651.SZ) reported its semi-annual results for 2025, highlighting changes in institutional and public fund holdings [1] - As of August 22, 2025, six institutional investors disclosed holdings in Lijun Co., totaling 36.7581 million shares, which represents 3.56% of the company's total share capital [1] - The institutional holding ratio decreased by 0.40 percentage points compared to the previous quarter [1] Group 2 - Among public funds, there was an increase in holdings from one fund, the Southern CSI 1000 ETF, which saw a slight rise in its holding ratio [1] - One new public fund disclosed this period, the Huaxia CSI 1000 ETF, while three public funds were not disclosed compared to the previous quarter [1] - In terms of foreign investment, one foreign fund, Hong Kong Central Clearing Limited, reduced its holdings slightly compared to the previous quarter [2]

Group 1 - The independent directors of Chengdu Lijun Industrial Co., Ltd. held their second special meeting in 2025 on August 21, 2025, via teleconference, with all three independent directors present, complying with legal and regulatory requirements [1] - The company provided a guarantee of up to 400 million yuan for its wholly-owned subsidiary, Lijun Holdings (Singapore) Private Limited, with a balance of 279.3863 million yuan as of the reporting period, which is within the approved limit [1] - No other external guarantee matters occurred during the reporting period, nor were there any other external guarantees carried over from previous years [2] Group 2 - The company agreed to cancel and deregister its wholly-owned subsidiary, Chengdu Lijun International Intelligent Equipment Technology Co., Ltd., and change its name and business scope, which will not adversely affect the overall business development and management of the company [2]