Financial Performance - Revenue for Q3 2025 was CNY 11,413,472.55, a decrease of 71.23% year-over-year and a decline of 41.57% compared to the beginning of the year[5] - Net profit attributable to shareholders was CNY -18,980,229.50, representing a decrease of 379.92% year-over-year and a decline of 454.07% year-to-date[5] - Basic and diluted earnings per share were both CNY -0.1580, down 380.13% year-over-year and 454.08% year-to-date[5] - Total operating revenue for the current period is ¥79,047,974.83, a decrease of 41.7% compared to ¥135,283,376.18 in the previous period[16] - Net profit for the current period is a loss of ¥25,556,881.07, compared to a profit of ¥7,217,967.52 in the previous period, indicating a significant decline[17] - The company reported a total comprehensive loss of ¥25,556,881.07 for the current period, compared to a comprehensive income of ¥7,217,967.52 in the previous period[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,148,914,615.98, down 8.85% from the end of the previous year[5] - Total assets decreased to ¥1,148,914,615.98 from ¥1,260,411,469.35, a decline of about 8.8%[14] - Total liabilities decreased to ¥102,113,317.22 from ¥166,431,689.52, a reduction of approximately 38.6%[14] - The company's retained earnings decreased to ¥299,802,814.92 from ¥346,981,295.99, a decline of about 13.5%[15] - The total equity attributable to the parent company decreased to ¥1,046,801,298.76 from ¥1,093,979,779.83, a decline of approximately 4.3%[15] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -48,169,806.97, an increase of 7.87% compared to the previous year[5] - Cash inflow from operating activities totaled CNY 55,315,951.74, a decrease of 60.45% compared to the previous year[9] - Operating cash flow net amount is -¥48,169,806.97, slightly improved from -¥52,285,340.13 in the previous period[20] - Cash and cash equivalents at the end of the period stand at ¥446,206,940.88, down from ¥491,736,024.44 at the beginning of the period[21] - The company's cash and cash equivalents decreased to ¥446,206,940.88 from ¥516,864,208.45, a decline of approximately 13.5%[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,106[10] - The largest shareholder, Lou Jiyong, holds 36.01% of the shares, totaling 43,260,000 shares[10] - The company has no preferred shareholders or significant changes in shareholder financing activities reported[11] Expenses - Sales revenue decreased by 41.57% to CNY 79,047,974.83 due to reduced product deliveries[9] - The company reported a significant increase in sales expenses by 41.63% to CNY 715,480.64, attributed to higher after-sales costs[9] - Total operating costs decreased to ¥63,833,038.66 from ¥80,106,833.53, reflecting a reduction of 20.3%[16] - Research and development expenses increased to ¥7,505,204.34 from ¥7,168,413.50, showing a growth of 4.7%[16] - Sales expenses rose to ¥715,480.64 from ¥505,172.41, an increase of 41.6%[16] Other Information - The company received government subsidies amounting to CNY 15,784.35 during the reporting period[6] - The company experienced a 69.58% reduction in cash outflow for purchasing fixed assets, totaling CNY 865,860.60[9] - Accounts receivable increased to ¥338,715,120.24 from ¥321,746,301.15, reflecting a growth of about 5.3%[13] - Inventory decreased to ¥75,576,195.44 from ¥106,666,257.87, a reduction of approximately 29.2%[13] - The company has not undergone an audit for the third quarter financial report[22]

关于成都天箭科技股份有限公司 调整部分募投项目内部投资结构的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券""保荐人"）作为 成都天箭科技股份有限公司（以下简称"天箭科技""公司"）首次公开发行股 票并上市的保荐人，根据《上市公司募集资金监管规则》《深圳证券交易所股票 上市规则》《深圳证券交易所公司自律监管指引第 1 号——主板上市公司规范运 作》等有关规定，对天箭科技本次部分募投项目内部投资结构调整进行了审慎核 查，具体情况下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准成都天箭科技股份有限公司首次公开 发行股票的批复》（证监许可[2019]2703 号）核准，并经深圳证券交易所同意， 成都天箭科技股份有限公司首次公开发行人民币普通股（A 股）1,790 万股，发 行价格为每股人民币 29.98 元，募集资金总额 536,642,000.00 元，扣除发行费用 56,642,000.00 元后，募集资金净额为 480,000,000.00 元。上述资金于 2020 年 3 月 11 日全部到位，资金到位情况已经立信中联会计师事务所（特殊普通合伙） 验证，并由其出具"立信中联验字[2 ...

Investment Rating - The report maintains an "Outperform" rating for the military industry [1] Core Views - The military industry is experiencing a revenue rebound, with significant increases in inventory and contract liabilities. In the first half of 2025, 141 listed companies in the military sector achieved a total revenue of 254.549 billion yuan, a year-on-year increase of 9.3%. However, the net profit attributable to shareholders decreased by 1.1% to 15.526 billion yuan [7][11][13] - The overall inventory of these companies reached 310.839 billion yuan, up 19.8%, while contract liabilities totaled 152.030 billion yuan, increasing by 14.9% [11][13] - The report suggests focusing on specific sub-sectors for investment opportunities, including the aircraft and aero-engine supply chain, missile and unmanned combat equipment, and military trade-related enterprises [17] Summary by Sections Industry Overview - The military industry is showing signs of recovery, with a notable increase in revenue and contract liabilities. The overall gross margin for the industry is 18.7%, which is a slight increase from the previous year [13][16] - The report indicates a shift in industry dynamics, with upstream electronic components benefiting first, followed by downstream core components and equipment [16] Market Performance - In the first two weeks of September 2025, the military sector indices experienced significant adjustments, with the defense and military industry index dropping by 7.90%, underperforming compared to the broader market [18][24] - The report highlights that the military sector's performance was negatively impacted after the "September 3" military parade, leading to a sell-off in military stocks [18][20] Company Dynamics - Notable companies in the sector include: - **博实股份**: Signed a major contract worth approximately 235.1132 million yuan [43] - **埃斯顿**: Became the first domestic robot brand to lead the Chinese industrial robot market with a market share of 10.5% [44] - **融发核电**: Reported a sufficient backlog of orders and is progressing according to production plans [46] - **中航西飞**: Expanding strategic cooperation with Airbus to meet production needs for the A320 series [47] - **晶盛机电**: Achieved domestic production of semiconductor equipment and is advancing global customer validation for silicon carbide substrates [48] Investment Recommendations - The report recommends focusing on ETFs related to the military sector, such as 富国中证军工龙头 ETF and 国泰中证军工 ETF, as potential investment vehicles [2]

证券代码：002977 证券简称：天箭科技 成都天箭科技股份有限公司 投资者关系活动记录表 投资者关系活动 类别 □ 特定对象调研 □ 分析师会议 □ 媒体采访 √ 业绩说明会 □ 新闻发布会 □ 路演活动 □ 现场参观 □ 其他 （ ） 参与单位名称及 人员姓名 投资者网上提问 时间 2025 年 9 月 12 日（周五） 14:00—17:00 地点 公司通过"全景路演"（https://rs.p5w.net）采用网络远程的 方式召开业绩说明会 上市公司接待人 员姓名 董事长 楼继勇先生 董事、总经理 陈镭先生 董事、副总经理、财务负责人 陈涛女士 董事、副总经理、董事会秘书 何健先生 独立董事 邓菊秋女士 投资者关系活动 主要内容介绍 网络征集与现场问题及答复情况如下： 1.请问贵公司是否参与央企重组计划做到强强联合做强做 大创造核心竞争力谢谢 尊敬的投资者，您好。请以公司在指定媒体发布的正式公告 为准。感谢您的理解与支持。 2.请问，账龄延长的问题什么时候可以解决。订单延迟交付 的情况说一下，可以吗 尊敬的投资者，您好。公司针对部分账龄较长的客户，我们 正积极协调沟通加紧催收，延迟交付订单正在执行中。 ...

Group 1 - The company Tianjian Technology announced its participation in an investor online reception event scheduled for September 12, 2025 [2] - The event is organized by the Sichuan Listed Companies Association and Shenzhen Panorama Network Co., Ltd [2] - The timing of the event is set from 14:00 to 17:00 on the specified date [2]

证券代码：002977 证券简称：天箭科技 公告编号：2025-027 成都天箭科技股份有限公司 特此公告。 成都天箭科技股份有限公司 董事会 2025 年 9 月 6 日 及半年度报告业绩说明会活动的公告 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。 为进一步加强与投资者的互动交流，成都天箭科技股份有限公司（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、融资计划、股权激励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！ 关于参加四川辖区 2025 年投资者网上集体接待日 ...

Core Viewpoint - Tianjian Technology (002977.SZ) reported its semi-annual results for 2025, highlighting an increase in institutional investor holdings and foreign investment interest [1] Institutional Holdings - As of August 25, 2025, three institutional investors disclosed holdings in Tianjian Technology A-shares, totaling 1.3281 million shares, which represents 1.11% of the company's total equity [1] - The institutional holding ratio increased by 0.30 percentage points compared to the previous quarter [1] Public Fund and Foreign Investment - One public fund, Baodao Growth Intelligent Navigation Stock A, was newly disclosed in this period, with no changes in other public funds compared to the previous quarter [1] - In terms of foreign investment, Barclays Bank PLC was a new disclosure this quarter, while Morgan Stanley & Co. International PLC was not disclosed in this period [1]

Group 1 - The core point of the article is that Tianjian Technology (SZ 002977) held its eighth meeting of the third board of directors on August 25, 2025, to review the agenda regarding the 2025 semi-annual report and its summary [1] - For the first half of 2025, Tianjian Technology's revenue composition is entirely from the manufacturing of computers, communications, and other electronic devices, accounting for 100.0% [1] - As of the report, Tianjian Technology has a market capitalization of 4.9 billion yuan [1] Group 2 - The A-share market has seen trading volumes exceed 2 trillion yuan for eight consecutive days, indicating strong market activity [1] - Major industry players are actively recruiting for autumn positions, with 25 job openings available, highlighting a demand for talent in the sector [1]

单位：万元 | | 资金占用方 | 占用方与上 | 上市公司 | 年期 2025 | 2025 | 年 月占 1-6 | 2025年1-6月占 | 年 月 2025 1-6 | 年 2025 6 | 占用形 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 名称 | 市公司的关 | 核算的会 | 初占用资 | | 用累计发生金额 | 用资金的利息 | 偿还累计发 | 月末占用 | 成原因 | 占用性质 | | | | 联关系 | 计科目 | 金余额 | | （不含利息） | （如有） | 生金额 | 资金余额 | | | | 控股股东、实际控制 | - | - | - | - | | - | - | - | - | - | | | 人及其附属企业 | | | | | | | | | | | | | 小计 | - | - | - | - | | - | - | - | - | - | | | 前控股股东、实际控 制人及其附属企业 | - | - | - | - | | - | - ...

成都天箭科技股份有限公司 2025 年半年度财务报告 【2025 年 8 月 26 日】 成都天箭科技股份有限公司 2025 年半年度财务报告 成都天箭科技股份有限公司 2025 年半年度财务报告 公司代码：002977 公司简称：天箭科技 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 451,673,553.51 | 516,864,208.45 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 4,674,000.00 | 15,500,400.00 | | 应收账款 | 347,417,159.44 | 321,746,301.15 | | 应收款项融资 | | | | 预付款项 | 209,256.41 | 190,970.67 | | 应收保费 | | | | 应收分保账款 | | | | 应收分保合同准备金 | | | | 其他应收款 | 22,833,126.67 | 24,500,559.53 | | 其中：应收利息 | | ...