Group 1 - The 6G concept is gaining traction, with Tianyin Electromechanical rising over 13% [1] - Dahua Intelligent, Tongyu Communication, and Zhongci Electronics have reached their daily limit up [1]

内容概要：卫星通信载荷天线是由天线面（体）和信号馈源构成的星载核心器件，需适配空间特殊环 境，承担卫星上行信号接收与下行信号定向传输功能，其性能直接决定通信质量与覆盖范围，在卫星载 荷中占据75%的价值量，其中T/R组件占天线系统价值的50%，核心地位突出。在"航天强国"战略及系 列产业政策支持下，我国低轨星座部署加速，千帆星座、中国星网等密集组网，行业应用从传统应急、 军用领域向手机直连卫星、汽车网联等大众商用场景拓展，2024年相关市场规模稳步增长，展现广阔发 展空间。未来，行业将沿着三大方向进阶：技术上以高频化、智能化融合为核心，突破有源相控阵等关 键技术；产业链上深化"国家队+民企"协同，推进核心部件国产化与规模化量产；应用上向6G天地一体 化、低空经济等领域跨界融合，以小型化、模块化产品构建全域通信服务生态。 上市企业：中国卫通（601698.SH）、上海瀚讯（300762.SZ）、信科移动（688387.SH）、通宇通讯 （002792.SZ）、*ST铖昌（001270.SZ） 相关企业：中国电子科技集团有限公司、中国航天科技集团有限公司、银河航天（北京）网络技术有限 公司、成都天锐星通科技股份有 ...

Core Viewpoint - The company has completed the repurchase and cancellation of a portion of restricted stock due to the failure to meet performance targets set in the 2023 restricted stock incentive plan [2][6][13]. Group 1: Repurchase and Cancellation Details - The repurchase involved 70 incentive recipients, totaling 446,875 shares, which represents 0.0851% of the company's total share capital prior to the repurchase [2][10]. - Following the cancellation, the company's total share capital decreased from 524,933,405 shares to 524,486,530 shares [2][11]. - The repurchase price for the restricted stock was set at 6.175 yuan per share, plus interest from the People's Bank of China [10]. Group 2: Performance and Compliance - The decision to repurchase was based on the company's failure to achieve the performance assessment criteria for the second release period of the incentive plan, with a reported net profit of 41,385,107.67 yuan for 2024, which did not meet the required growth rate [7][8]. - The company had previously conducted necessary approvals and disclosures related to the incentive plan, including independent opinions from directors and legal opinions from a law firm [3][4][5]. Group 3: Financial Impact and Future Actions - The repurchase will reverse some previously recognized stock payment expenses, but it is not expected to significantly impact the company's financial status or operational results [13]. - The company will proceed with necessary legal registrations and disclosures following the completion of the stock cancellation [14].

Market Overview - As of December 5, the Shanghai Composite Index closed at 3902.81 points, up 27.01 points, with a gain of 0.70% [1] - The Shenzhen Component Index closed at 13147.68 points, up 140.96 points, with a gain of 1.08% [1] - The ChiNext Index closed at 3109.30 points, up 41.81 points, with a gain of 1.36% [1] Stock Performance - A total of 82 A-shares had a turnover rate exceeding 20% on this day, with N-Moore-U reaching a turnover rate of over 50% [1] - N-Moore-U (688795) had a closing price of 600.50 CNY, with a turnover rate of 85.49% and a remarkable increase of 425.46% [1] - Other notable stocks with high turnover rates include: - Chuling Information (300250) with a turnover rate of 46.01% and a decline of 7.22% [1] - Sichuan Jinding (600678) with a turnover rate of 44.89% and a slight decline of 0.74% [1] - C China Uranium (001280) with a turnover rate of 44.11% and a decrease of 5.18% [1] - Jinfu Technology (003018) with a turnover rate of 43.71% and a marginal increase of 0.10% [1] Additional Notable Stocks - Weston (301315) closed at 66.30 CNY with a turnover rate of 43.08% and an increase of 5.20% [1] - Haixin Food (002702) closed at 9.55 CNY with a turnover rate of 42.20% and a gain of 10.02% [1] - Tongyu Communication (002792) closed at 29.47 CNY with a turnover rate of 41.60% and an increase of 4.73% [1] - Other stocks with significant turnover rates include: - Huawu Co., Ltd. (300095) with a turnover rate of 39.34% and a decline of 2.40% [1] - Zhongneng Electric (300062) with a turnover rate of 38.89% and an increase of 12.76% [1] - Xiaocheng Technology (300139) with a turnover rate of 38.76% and a gain of 14.62% [1]

1、2023 年 6 月 19 日，公司第五届董事会第五次会议审议通过了《关于<公司 2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于<公司 2023 年限制 性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理 公司 2023 年限制性股票激励计划相关事宜的议案》等议案，公司独立董事发表了 独立意见，监事会对激励对象名单进行了核查，北京金诚同达（广州）律师事务所 出具了关于公司 2023 年限制性股票激励计划的法律意见书。 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、广东通宇通讯股份有限公司（以下简称"公司"）本次回购注销限制性股 票涉及激励对象 70 名，回购注销的限制性股票数量共计 446,875 股，占回购注销 前公司总股本的 0.0851%。 2、截至本公告披露日，公司已在中国证券登记结算有限责任公司深圳分公司 办理完成上述限制性股票的回购注销手续。本次回购注销完成后，公司总股本由 524,933,405 股变更为 524,486,530 股。 广东通宇通讯股份有限公司（以下简称"公司"）于 20 ...

通宇通讯今日上涨4.73%，全天换手率41.60%，成交额40.06亿元，振幅9.08%。龙虎榜数据显示，机构 净卖出4072.12万元，深股通净卖出590.42万元，营业部席位合计净卖出4940.51万元。 深交所公开信息显示，当日该股因日换手率达41.60%上榜，机构专用席位净卖出4072.12万元，深股通 净卖出590.42万元。 融资融券数据显示，该股最新（12月4日）两融余额为6.48亿元，其中，融资余额为6.47亿元，融券余额 为71.19万元。近5日融资余额合计增加1.72亿元，增幅为36.25%，融券余额合计增加16.50万元，增幅 30.16%。（数据宝） 通宇通讯12月5日交易公开信息 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 深股通专用 | 10233.22 | 10823.64 | | 买二 | 机构专用 | 4485.10 | 4403.14 | | 买三 | 机构专用 | 4265.47 | 5537.34 | | 买四 | 东亚前海证券有限责任公司上海分公司 | 3342.14 ...

通宇通讯今日上涨0.32%，全天换手率44.69%，成交额42.73亿元，振幅12.71%。龙虎榜数据显示，机构 净买入507.54万元，深股通净卖出1.46亿元，营业部席位合计净买入988.14万元。 深交所公开信息显示，当日该股因日换手率达44.69%上榜，机构专用席位净买入507.54万元，深股通净 卖出1.46亿元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交8.52亿元，其中，买入成交额为3.60亿 元，卖出成交额为4.92亿元，合计净卖出1.31亿元。 具体来看，今日上榜的营业部中，共有3家机构专用席位现身，即买二、买三、买五、卖二、卖四、卖 五，合计买入金额1.87亿元，卖出金额1.81亿元，合计净买入507.54万元，深股通为第一大买入营业部 及第一大卖出营业部，买入金额为1.08亿元，卖出金额为2.55亿元，合计净卖出1.46亿元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均涨4.45%，上榜后5日平均涨11.65%。 资金流向方面，今日该股主力资金净流出1079.47万元，其中，特大单净流入1137.43万元，大单资金净 流出2216.90万元。近5日主力资金净流出7.8 ...

Group 1: China Satellite (600118) - China Satellite is a leading player in the domestic satellite manufacturing sector and a key support for the national satellite internet strategy, handling over 50% of domestic low-orbit communication satellite orders [1][20] - The company has a monopoly advantage in small and micro-satellite platform technology, with products covering optical remote sensing, communication, and navigation [1][20] - It benefits from the increasing density of domestic satellite launches and the acceleration of constellation networking processes [1][20] Group 2: China Satcom (601698) - China Satcom is the only domestic telecom operator with independent satellite communication resources, managing multiple commercial communication satellites and providing a global satellite communication network [2][21] - The company plays a dominant role in aviation satellite internet services, providing high-speed and stable satellite-ground connectivity for flights [2][21] - Its business model encompasses the entire chain from satellite operation to bandwidth leasing and value-added services, benefiting from the growing demand for satellite bandwidth resources [2][21] Group 3: Shanghai Huguang (603131) - Shanghai Huguang is a core player in the private satellite manufacturing sector, with capabilities in the assembly, integration, and testing (AIT) services for the G60 Qianfan constellation project [3][22] - The company has a production capacity of over 100 satellites annually, supporting the deployment of 15,000 satellites for the Qianfan constellation [3][22] - It leverages advanced welding technology and automation to meet precision manufacturing requirements, achieving a 20% improvement in weld strength compared to traditional methods [3][22] Group 4: Chengchang Technology (001270) - Chengchang Technology is one of the few companies providing complete solutions for satellite internet phased array T/R chips, focusing on GaN, GaAs, and silicon-based processes [4][23] - The company’s products are widely used in various scenarios, achieving international advanced performance levels [4][23] - It benefits from the growing demand for satellite communication chips and the domestic replacement of high-end RF chips [4][23] Group 5: Huali Chuantong (300045) - Huali Chuantong is a core supplier of satellite communication terminals, playing a key role in the satellite communication functionality of Huawei's Mate60 series [5][24] - The company’s products cover satellite communication, BeiDou navigation, and simulation testing, with significant advantages in both military and civilian sectors [5][24] - It is well-positioned to benefit from the increasing penetration of consumer-grade satellite communication terminals [5][24] Group 6: Haige Communication (002465) - Haige Communication has a complete technology system in the low-orbit satellite internet sector, providing integrated solutions from chips to terminals and systems [6][25] - The company is deeply involved in major domestic BeiDou navigation and satellite internet projects, with a strong customer base in military satellite communication [6][25] - It is positioned to benefit from the dual growth of military and civilian markets through its collaborative development model [6][25] Group 7: Qian Zhao Optoelectronics (300102) - Qian Zhao Optoelectronics is a leading supplier of gallium arsenide solar cells in the commercial aerospace sector, holding over 50% market share [7][26] - The company has achieved vertical integration from gallium arsenide epitaxial wafers to chips, with products suitable for extreme space environments [7][26] - It benefits from the increasing satellite launch volumes and the growth of the commercial aerospace industry [7][26] Group 8: Aerospace Electronics (600879) - Aerospace Electronics specializes in providing key electronic devices and control systems for satellites and rockets, serving as a core support for the aerospace industry [8][27] - The company has a strong technical reserve in inter-satellite links and high-precision measurement and control [8][27] - It is positioned to benefit from the rapid development of commercial aerospace and the increasing demand for aerospace equipment [8][27] Group 9: Zhenlei Technology (688270) - Zhenlei Technology is a core supplier in the satellite internet chip sector, with a market share exceeding 40% in satellite RF chips and power management chips [9][28] - The company has achieved breakthroughs in high-end chip domestic production, with reliability and performance reaching international standards [9][28] - It is well-positioned to benefit from the demand for satellite internet core components and the domestic replacement of imported products [9][28] Group 10: Guobo Electronics (688375) - Guobo Electronics is a leading company in the satellite phased array T/R component sector, focusing on the development of compound semiconductor devices [10][29] - The company has a complete technical system for the design, manufacturing, and testing of phased array T/R components [10][29] - It is positioned to benefit from the growing demand for high-frequency communication in satellite applications [10][29] Group 11: Zhongke Xingtou (688568) - Zhongke Xingtou is a leader in satellite remote sensing data processing and visualization, providing critical data support for satellite internet applications [11][30] - The company has a full-chain technology for satellite remote sensing data acquisition, processing, analysis, and visualization [11][30] - It is positioned to benefit from the explosion of satellite remote sensing data and the digital transformation of industries [11][30] Group 12: Siwei Tuxin (002405) - Siwei Tuxin is a leader in high-precision mapping and positioning navigation, providing integrated solutions for satellite internet applications in smart driving [12][31] - The company has a leading high-precision map database and core technology for BeiDou navigation [12][31] - It is positioned to benefit from the integration of satellite positioning technology and map data in the automotive sector [12][31] Group 13: Shanghai Huanxun (300762) - Shanghai Huanxun is a core enterprise in the military communication and satellite internet integration sector, serving as the exclusive payload supplier for the G60 Qianfan constellation [13][32] - The company has developed core technologies for 6G communication, enhancing frequency utilization and anti-interference capabilities [13][32] - It is positioned to benefit from the dual growth of military and civilian satellite communication markets [13][32] Group 14: Obit (300053) - Obit specializes in the development and production of core electronic devices for satellites, adapting to the trends of satellite miniaturization and lightweight [14][33] - The company’s products are widely used in various satellites and spacecraft, ensuring stable operation in orbit [14][33] - It is positioned to benefit from the increasing demand for satellite electronic products as commercial satellite launches rise [14][33] Group 15: Aerospace Hanyu (688523) - Aerospace Hanyu focuses on the development and production of structural components and electronic devices for satellites and rockets, serving as a key support for the aerospace industry [15][34] - The company has a complete capability from product design to mass production, meeting high reliability and precision manufacturing requirements [15][34] - It is positioned to benefit from the acceleration of satellite networking and the increasing launch density of rockets [15][34] Group 16: Tongyu Communication (002792) - Tongyu Communication is a leading company in the satellite communication antenna sector, focusing on the development of antennas for satellite and mobile communication [16][35] - The company has a complete capability from antenna design to testing, with products applied in various satellite communication projects [16][35] - It is positioned to benefit from the construction of ground facilities for satellite internet and the upgrading of communication equipment [16][35] Group 17: Tianyin Electromechanical (300342) - Tianyin Electromechanical is a core supplier of satellite attitude control system components, playing a significant role in commercial satellite systems [17][36] - The company’s products ensure stable satellite attitude and energy supply, with applications in various commercial satellites [17][36] - It is positioned to benefit from the increasing demand for attitude control system components as satellite launches rise [17][36]

Core Viewpoint - The launch of Blue Arrow Aerospace's "Zhuque-3" is expected to significantly enhance the confidence of downstream constellation operators in Hongqing Technology's "one-stop" satellite manufacturing and networking services, thereby accelerating the acquisition of domestic and international commercial orders [1] Group 1: Investment and Strategic Partnerships - The company plans to invest 30 million yuan in Hongqing Technology by the end of 2024 to strengthen its position in the upstream key components of satellite internet [1] - The collaboration between the company, Hongqing Technology, and Blue Arrow Aerospace is expected to create a deeper competitive advantage in the upstream satellite internet industry chain [1] Group 2: Product Development and Market Expansion - The company has established a comprehensive satellite communication product system covering the entire "satellite-ground-terminal" chain, including ground station terminals, satellite communication payloads, and terminal applications [1] - The satellite communication payloads feature satellite phased array antennas supporting Ka and Ku frequency bands, which have already achieved small-scale applications in low Earth orbit communication satellites [1] - Terminal applications focus on developing mobile antennas and have successfully expanded into emerging fields such as cross-border high-speed rail, energy IoT, and civil aviation communication [1]

Group 1: Company Overview and Activities - The company hosted an investor relations activity on December 4, 2025, attended by various investment institutions [2] - Activities included a tour of the company's exhibition hall, testing darkroom, microwave antenna workshop, and 5G antenna workshop [2][3] - A brief introduction of the company's main business products, development history, and future development plans was provided [2] Group 2: Investment and Strategic Partnerships - The company invested CNY 30 million in Hongqing Technology at the end of 2024 to strengthen its position in the upstream satellite component sector [4] - The launch of Blue Arrow Aerospace's "Zhuque-3" is expected to enhance confidence in Hongqing Technology's satellite manufacturing and networking services, facilitating order acquisition [4] - The company maintains close communication with Blue Arrow Aerospace and Hongqing Technology to leverage synergies in the satellite internet upstream industry [4] Group 3: Satellite Internet Development - Satellite internet is a key component of national infrastructure, aiming to fill communication coverage gaps and meet emergency communication needs [5] - Major low-orbit satellite constellation projects like "GW Constellation" and "G60 Starlink" are accelerating, with GW Constellation having completed multiple network launches [5] - The Ministry of Industry and Information Technology (MIIT) has set a target of over 10 million satellite communication users by 2030, laying a solid foundation for commercial operations [5][6] Group 4: Product Development and Applications - The company has established a comprehensive satellite communication product system covering "space-ground-terminal," including ground station terminals and satellite communication payloads [6] - The satellite IoT terminal for power grid communication is designed for remote areas, enhancing operational efficiency and reducing maintenance costs [9] - The MACRO WIFI product features long-range coverage and high concurrent access capabilities, with a recent order of 1,000 units from an Australian client [10] Group 5: Investment Fund Progress - The company has contributed CNY 120 million to the aerospace industry fund, with an initial investment of CNY 20 million in Shanghai Jingji Communication Technology Co., Ltd. [7] - The fund aims to invest in commercial aerospace, satellite communication, and advanced manufacturing sectors, with a planned investment of CNY 100 million in Beijing Lingkong Tianxing Technology Co., Ltd. [7]