Group 1 - The company, Tian'ao Electronics, responded to investor inquiries on November 19 regarding the number of shareholders disclosed in its periodic reports [2] - Investors can request specific shareholder numbers for certain dates by sending the required date and valid shareholding proof to the company's email [2]

Group 1 - The company is expanding its product application markets, particularly in the field of drones [2]

Core Viewpoint - Tianao Electronics (002935.SZ) is actively expanding its product application markets, with some frequency-related products being utilized in the drone sector [1] Group 1 - The company is continuously exploring new application markets for its products [1] - Certain frequency-related products are now being applied in the drone industry [1]

Group 1 - The core viewpoint of the article is that Tianao Electronics (002935.SZ) is actively expanding its product application markets, particularly in the drone sector with its frequency-related products [1] Group 2 - The company is utilizing its time frequency products in the unmanned aerial vehicle (UAV) field, indicating a strategic move towards emerging technologies [1]

Core Viewpoint - Tian'ao Electronics announced the convening of its 18th meeting of the fifth board of directors on November 18, 2025, to review the proposal for appointing an accounting firm and other documents [1] Company Summary - For the first half of 2025, Tian'ao Electronics reported that its revenue composition was entirely from the manufacturing of computers, communications, and other electronic devices, accounting for 100.0% [1] - As of the report date, the market capitalization of Tian'ao Electronics is 8 billion yuan [1]

证券代码：002935 证券简称：天奥电子 公告编号：2025-044 成都天奥电子股份有限公司 第五届董事会第十八次会议决议公告 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、董事会会议召开情况 成都天奥电子股份有限公司（以下简称"公司"）第五届董事会第十八次会议于 2025 年 11 月 13 日以电子邮件、电话通讯等形式发出通知，并于 2025 年 11 月 18 日在公司会议 室以现场结合通讯方式召开。本次会议应出席董事 7 名，实际出席董事 7 名，公司部分高级 管理人员列席了会议。会议由公司董事长赵晓虎先生主持，会议的召集和召开符合《中华人 民共和国公司法》等法律法规及《公司章程》的规定。 （一）审议并通过《关于聘任会计师事务所的议案》 二、董事会会议审议情况 表决结果为：同意 7 票，反对 0 票，弃权 0 票 具体内容详见公司在《证券时报》、《中国证券报》、《上海证券报》、《证券日报》及巨潮 资讯网（http://www.cninfo.com.cn）披露的《拟聘任会计师事务所的公告》。 （二）审议并通过《关于提请召开公司 2025 年第二 ...

证券代码：002935 证券简称：天奥电子 公告编号：2025-045 成都天奥电子股份有限公司 拟聘任会计师事务所的公告 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。 特别提示： 1、拟聘任会计师事务所名称：天健会计师事务所（特殊普通合伙）（以下简称"天健会 计师事务所"） 2、前任会计师事务所名称：大华会计师事务所（特殊普通合伙）（以下简称"大华会计 师事务所"） 3、拟变更会计师事务所的原因：鉴于 2024 年度审计机构聘期已满，结合公司业务发展 需要和审计需求，根据财政部、国务院国资委、证监会印发的《国有企业、上市公司选聘会 计师事务所管理办法》等相关规定，成都天奥电子股份有限公司（以下简称"公司"）拟聘 任天健会计师事务所（特殊普通合伙）为公司 2025 年度财务报告及内部控制审计机构，聘 期一年。 4、本次拟变更会计师事务所符合财政部、国务院国资委、证监会印发的《国有企业、 上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）的规定。 组织形式：特殊普通合伙 注册地址：浙江省杭州市西湖区灵隐街道西溪路 128 号 首席合伙人：钟建国 成都 ...

成都天奥电子股份有限公司 证券代码：002935 证券简称：天奥电子 公告编号：2025-046 关于召开 2025 年第二次临时股东会的通知 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。 成都天奥电子股份有限公司（以下简称"公司"）第五届董事会第十八次会议决议于 2025 年 12 月 4 日（星期四）15:00 召开 2025 年第二次临时股东会，现将会议有关事项通知如下： 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、会议召集人：公司董事会 3、会议召开的合法、合规性：本次股东会会议召开符合《中华人民共和国公司法》、《上 市公司股东会规则》有关法律、行政法规、部门规章、规范性文件和《公司章程》等的规定。 4、会议召开的日期、时间： （1）现场会议时间：2025 年 12 月 4 日（星期四）15:00 （2）网络投票时间：2025 年 12 月 4 日 通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 12 月 4 日 9:15—9： 25，9:30—11:30 和 13:00—15:00； （3）本公司聘请 ...

Investment Rating - The report maintains a positive outlook on the defense and military industry, indicating an "Overweight" rating for the sector, suggesting it will outperform the overall market [23]. Core Insights - The military industry is entering an upward cycle as per the "14th Five-Year Plan" recommendations, with expectations of performance recovery in Q4 2025, driven by increased military trade and order fulfillment [3][4]. - The report highlights that the military trade landscape is evolving due to rising global geopolitical uncertainties, leading to increased demand for military products, particularly in the Middle East and Asia [3]. - Key investment opportunities are identified in next-generation equipment, unmanned/anti-unmanned weapons, and information/intelligent systems, with a focus on companies that are expected to benefit from these trends [3]. Market Review - Last week, the Shenwan Defense and Military Index fell by 2.15%, while the CSI Military Leaders Index decreased by 1.53%. In comparison, the Shanghai Composite Index dropped by 0.18% and the CSI 300 by 1.08% [4][11]. - The report notes that the defense and military sector's performance ranked 27th among 31 Shenwan primary industries, indicating a relatively poor performance compared to other sectors [4]. - The report lists the top five gainers in the defense sector: Tian'ao Electronics (up 12.63%), Aerospace Development (up 8.54%), *ST Dali (up 7.1%), Aerospace Intelligence Equipment (up 5.72%), and 712 (up 4.21%) [11][12]. Valuation Changes - The current PE-TTM for the Shenwan military sector is 76.94, placing it in the upper range historically, with a valuation percentile of 65.32% since January 2014 and 91.95% since January 2019 [12][13]. - The report indicates a slight differentiation in valuations among sub-sectors, with aerospace and aviation equipment showing relatively high PE valuations since 2020 [12][13].

Core Viewpoint - On November 17, a total of 17 listed companies will have their restricted shares unlocked, with a total market value of approximately 22.745 billion yuan [1] Summary by Category Restricted Shares Unlocking - The total number of restricted shares unlocking on this date is significant, with a total market value of about 22.745 billion yuan [1] - Specific companies and their respective unlocking details include: - Yingte Group (000411): 273,600 shares from equity incentive [1] - East China Pharmaceutical (000963): 1,630,300 shares from equity incentive [1] - Innovation New Materials (600361): 2.867 billion shares from other types [1] - Fida Environmental Protection (600526): 152 million shares with extended lock-up period [1] - New Mileage (002219): 8.7 million shares from equity incentive [1] - Anke Bio (300009): 12.3941 million shares from equity incentive [1] - Songcheng Performance (300144): 2.16 million shares from equity incentive [1] - Keheng Co., Ltd. (300340): 511,400 shares from equity incentive [1] - Haoxiangni (002582): 1 million shares from equity incentive [1] - Zhongzhi Technology (301361): 2.252 million shares from pre-issue [1] - Jack Co., Ltd. (603337): 2.4576 million shares from equity incentive [1] - Tian'ao Electronics (002935): 105,400 shares from equity incentive [1] - Huatuo Cable (605196): 556,000 shares from equity incentive [1] - Yongshuntai (001338): 266 million shares from pre-issue [1] - New World (301277): 149 million shares from pre-issue [1] - Yongxi Electronics (688362): 130 million shares [1] - Kangxi Communication (688653): 3.184 million shares [1]