Core Viewpoint - Tianao Electronics (002935.SZ) indicates that its DDR series memory products are primarily used in specific fields such as national defense and military, with current prices remaining relatively stable [1] Company Summary - The DDR series memory products of Tianao Electronics are focused on applications in national defense and military sectors [1] - The pricing of these memory products is reported to be stable at present [1]

Core Viewpoint - Tianao Electronics (002935.SZ) is actively involved in the satellite internet sector and is committed to enhancing its technology research and expanding market applications [1] Company Developments - The company has successfully integrated its products into the satellite internet field, indicating a strong alignment with industry demands [1] - Tianao Electronics plans to continue deepening its focus on industry needs and strengthening its technological research efforts [1]

Core Viewpoint - Tianao Electronics (002935.SZ) is engaged in research and product development of quantum precision measurement technology, primarily focusing on atomic magnetometers, with small-scale trials in the medical field [1] Group 1 - The company is developing quantum precision measurement technology [1] - The primary product under development is the atomic magnetometer [1] - There are small-scale trials of this product in the medical sector [1]

Core Viewpoint - Tianao Electronics is a leading manufacturer of time frequency and BeiDou satellite application products in China, with strong market competitiveness and advanced technology [1] Group 1: Business Performance - In Q3 2025, Tianao Electronics reported revenue of 536 million yuan, ranking 34th among 64 industry companies, with the industry leader AVIC Chengfei achieving 48.286 billion yuan [2] - The net profit for the same period was 15.2232 million yuan, ranking 28th in the industry, with the top performer AVIC Chengfei reporting a net profit of 2.175 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio of Tianao Electronics was 44.76%, higher than the previous year's 42.15% and above the industry average of 32.84% [3] - The gross profit margin stood at 22.64%, which is below the industry average [3] Group 3: Corporate Governance - The chairman of Tianao Electronics, Zhao Xiaohu, has been in office since October 2021, while the general manager, Liu Jiang, has held the position since January 2020 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 10.67% to 20,700, while the average number of circulating A-shares held per shareholder increased by 11.95% to 20,100 [5] - Hong Kong Central Clearing Limited is the seventh largest circulating shareholder, holding 2.9434 million shares as a new shareholder [5] Group 5: Future Outlook - In H1 2025, Tianao Electronics achieved revenue of 318 million yuan and a net profit of 8.3083 million yuan, with expectations for rapid growth in revenue and net profit due to the release of defense construction demand and new product launches [5] - The company has made progress in various new products and business areas, including time frequency devices and RF components, with forecasts for net profits of 100 million yuan, 138 million yuan, and 180 million yuan for 2025-2027 [5]

证券日报网讯 天奥电子10月28日在互动平台回答投资者提问时表示，公司以时间频率为主责主业，是 国内主要的原子钟批量生产企业，技术性能达到国际先进水平，目前也积极开展原子磁力计等前沿技术 的研发工作。 （编辑 袁冠琳） ...

Core Viewpoint - The recent acceleration in China's satellite internet construction is driving significant growth in related stocks, particularly in the satellite ETF sector, with notable increases in stock prices of key companies involved in this industry [2][5][6]. Group 1: Market Performance - The satellite ETF (159206) has risen by 1.89%, with significant gains in constituent stocks such as Aerospace Zhizhuang up over 11% and Guodun Quantum up over 8% [2][3]. - Other stocks showing strong performance include Alliance Electronics, XW Communication, and Guoke Micro, with increases ranging from approximately 5% to 8.5% [3]. Group 2: Industry Developments - China has recently accelerated its satellite internet initiatives, with three successful satellite launches in October, including the sixth batch of the "Thousand Sails Constellation" network [5]. - The successful launch of 12 low-orbit satellites using the Long March 8 rocket and the deployment of 18 satellites in one launch using the Long March 6 rocket highlight advancements in China's satellite capabilities [5]. - The successful launch of the 20th communication technology test satellite marks a significant milestone in satellite communication technology verification [5]. Group 3: Strategic Importance - The recent Fourth Plenary Session emphasized the strategic importance of the aerospace industry, positioning it as a core frontier industry amid international competition [6]. - The recognition of commercial aerospace as a "new growth engine" in the government work report further underscores the industry's elevated status and potential for accelerated development during the 14th Five-Year Plan period [6].

Core Insights - The A-share market has seen a collective surge in quantum technology stocks, with notable increases in companies such as GuoDun Quantum and DaHua Intelligent [1][2] - The Central Committee of the Communist Party of China has proposed the development of emerging pillar industries, including quantum technology, as part of the 15th Five-Year Plan, which is expected to create several trillion-yuan markets [1] Company Performance - GuoDun Quantum (688027) rose by 10.54%, with a market capitalization of 47.6 billion and a year-to-date increase of 55.18% [2] - DaHua Intelligent (002512) increased by 10.09%, with a market cap of 5.462 billion and a year-to-date rise of 3.59% [2] - HengBao Co. (002104) reached a 9.99% increase, with a market cap of 15.8 billion and a year-to-date surge of 232.75% [2] - Other notable performers include GuangKu Technology (300620) up 5.85%, GuangXun Technology (002281) up 5.19%, and KeDa GuoChuang (300520) up 4.95% [2] Industry Trends - The proposed 15th Five-Year Plan emphasizes the acceleration of strategic emerging industries such as quantum technology, bio-manufacturing, hydrogen energy, and nuclear fusion, which are expected to become new economic growth points [1] - The plan aims to lay a forward-looking foundation for future industries, potentially reshaping China's high-tech sector over the next decade [1]

Core Viewpoint - Tian'ao Electronics (002935) reported a decline in total revenue and net profit for the third quarter of 2025, despite a quarterly increase in revenue and a significant rise in quarterly net profit compared to the previous year [1]. Financial Performance - Total revenue for the third quarter of 2025 was 536 million yuan, a decrease of 7.12% year-on-year [1]. - Net profit attributable to shareholders was 15.22 million yuan, down 4.51% year-on-year [1]. - In the third quarter alone, total revenue was 218 million yuan, reflecting a 10.0% increase year-on-year [1]. - Quarterly net profit reached 6.91 million yuan, showing a substantial increase of 1329.08% year-on-year [1]. - The gross profit margin was 22.64%, down 8.77% year-on-year, while the net profit margin was 2.84%, up 2.82% year-on-year [1]. Accounts Receivable and Cash Flow - The company has a high level of accounts receivable, with accounts receivable amounting to 1.06 billion yuan, which is 1650.45% of the latest annual net profit [1]. - Operating cash flow per share was -0.19 yuan, a significant decrease of 159.29% year-on-year [1]. Cost and Expenses - Total selling, administrative, and financial expenses amounted to 65.78 million yuan, accounting for 12.28% of revenue, a decrease of 13.44% year-on-year [1]. Market Outlook - Analysts expect the company's performance for 2025 to reach approximately 99.94 million yuan, with an average earnings per share of 0.24 yuan [3]. - The company is focusing on the low-altitude economy sector, leveraging national policy support and its expertise to expand its product applications in this area [4][6]. Business Evaluation - The company's return on invested capital (ROIC) was 3.85%, indicating weak capital returns, with a historical median ROIC of 9.41% since its listing [5]. - The company maintains a healthy cash asset position, but attention is needed on cash flow and accounts receivable management [5].

证券代码：002935 证券简称：天奥电子 公告编号：2025-038 登录新浪财经APP 搜索【信披】查看更多考评等级 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第三季度财务会计报告是否经过审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ （二） 非经常性损益项目和金额 √适用 □不适用 单位：元 ■ 其他符合非经常性损益定义的损益项目的具体情况： □适用 √不适用 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 √不适用 公司不存在将《公开发行证券的公司信息披露解释性公告第 ...

（文章来源：证券日报） 证券日报网讯 10月24日晚间，天奥电子发布公告称，公司于2025年10月23日召开第五届董事会第十七 次会议，审议通过了《关于聘任公司董事会秘书的议案》。经公司董事长提名，提名委员会审核，公司 董事会同意聘任公司副总经理、财务负责人王利强先生为董事会秘书。 ...