Core Viewpoint - The company, Zhongtian Rocket, has developed a "Digital Development Plan" to integrate digital transformation into product research and operational management, aiming to enhance operational quality and efficiency [1] Group 1 - The company has responded to investor inquiries regarding its digital transformation efforts [1] - The digital transformation initiatives will be reflected in the company's regular reports, detailing major research projects and progress [1]

证券日报网讯中天火箭（003009）9月19日在互动平台回答投资者提问时表示，公司在积极做好经营管 理和科研生产工作的基础上，高度重视投资者关系管理，通过规范开展信息披露、定期参加券商策略会 议、召开业绩说明会、邀请投资者来公司现场调研、实施一年多次分红、加强与主管机构的沟通汇报等 措施，切实将维护广大投资者利益放在首要位置，提升公司经营透明度，促进公司稳定健康发展。 ...

Company Overview - Zhongtian Rocket Technology Co., Ltd. is located in Lantian County, Xi'an, Shaanxi Province, established on August 2, 2002, and listed on September 25, 2020. The company specializes in the research, production, and sales of small solid rockets and related products [1][2]. Financial Performance - As of September 10, 2025, Zhongtian Rocket reported a revenue of 301 million yuan for the first half of 2025, a year-on-year decrease of 32.86%. The net profit attributable to shareholders was 3.94 million yuan, down 80.74% year-on-year [2]. - The company has distributed a total of 55.94 million yuan in dividends since its A-share listing, with 33.10 million yuan distributed in the last three years [3]. Stock Performance - On September 18, Zhongtian Rocket's stock price increased by 2.25%, reaching 50.36 yuan per share, with a trading volume of 62.87 million yuan and a turnover rate of 0.82%. The total market capitalization is 7.826 billion yuan [1]. - Year-to-date, the stock price has risen by 29.25%, with a 3.58% increase over the last five trading days, a 15.45% decrease over the last 20 days, and a 5.67% increase over the last 60 days [1]. Shareholder Information - As of September 10, 2025, the number of shareholders is 29,600, a decrease of 11.99% from the previous period. The average number of circulating shares per person is 5,249, an increase of 13.62% [2]. - Among the top ten circulating shareholders, the Southern CSI 1000 ETF (512100) is the newest shareholder, holding 550,300 shares [3]. Business Segments - The main business revenue composition includes: 57.78% from rain enhancement and hail prevention rockets and supporting equipment, 16.20% from carbon/carbon thermal field materials, 9.94% from other civilian products, 9.22% from military small solid rockets, 6.77% from solid rocket engine erosion-resistant components, and 0.10% from intelligent weighing systems and measurement control system integration [1]. Industry Classification - Zhongtian Rocket is classified under the defense and military industry, specifically in the aerospace equipment sector, and is associated with concepts such as military-civilian integration, intelligent transportation, state-owned enterprise reform, aerospace military industry, and drones [2].

Summary of Zhongtian Rocket Conference Call Company Overview - Zhongtian Rocket is a leading company in the small solid rocket industry, established in 1989 as part of the Aerospace Science and Technology Group. The company has a strong technical foundation and has developed various products including rain enhancement rockets and small guided missiles [11][12]. Industry Insights Weather Modification Industry - Zhongtian Rocket holds over 50% market share in the rain enhancement and hail suppression rocket sector, benefiting from global warming and supportive policies. The demand for these rockets is expected to grow due to increasing extreme weather events and government initiatives aimed at advancing the weather modification industry by 2035 [2][6][15]. Military Products - The demand for small solid missiles has surged due to increased global military trade and regional conflicts. These missiles are suitable for low to medium intensity warfare and have performed well since their introduction in 2018. The Chinese defense budget has maintained over 7% growth for three consecutive years, further driving demand for consumables like rockets [2][7][17][18]. Photovoltaic Sector - The photovoltaic business faces challenges from industry overcapacity and price wars. However, Zhongtian Rocket is exploring new applications for carbon-carbon thermal field materials, such as high-performance carbon-ceramic brake discs for vehicles, which have gained recognition from downstream manufacturers [2][4][16]. Financial Performance - From 2020 to present, the company's revenue and net profit have shown a trend of initial growth followed by decline, primarily due to decreased procurement of carbon-carbon thermal field materials and rain enhancement rockets. However, in the first half of 2025, the proportion of rain enhancement rockets increased to 58%, leading to a rebound in gross margin to 23% [2][13][14]. Future Growth Potential - The company projects net profits of 76 million yuan, 156 million yuan, and 218 million yuan for 2025, 2026, and 2027, respectively. The target stock price is set at 70.30 yuan, indicating a potential upside of 45.96% based on the market capitalization as of September 9, 2025 [4][10]. Key Catalysts for Growth - Potential catalysts for Zhongtian Rocket's growth include the introduction of specific policies related to meteorological special bonds, approvals for military exports, and the implementation of military industrial plans outlined in the "15th Five-Year Plan" [8][9]. Investment Opportunities - The company is seen as having strong core competitiveness in military and rain enhancement sectors. Despite short-term pressures in the photovoltaic segment, technological innovations may lead to a turnaround. Additionally, potential asset restructuring could provide further positive impacts [9][10].

Group 1: Key Recommendations - The report highlights the potential of Zhongtian Rocket (003009) as a leading player in the small solid rocket industry, driven by increasing demand for rain enhancement and hail prevention rockets, supported by government policies and a growing domestic market [4] - Silver Dragon Co., Ltd. (603969) is recommended due to its increasing revenue from high value-added products, with a projected revenue growth of 21% CAGR from 2025 to 2027, indicating strong growth potential [6] Group 2: Financial Projections - For Zhongtian Rocket, the expected revenue for 2025-2027 is 1,033.08 million, 1,309.47 million, and 1,662.34 million CNY, with net profit projections of 75.54 million, 156.05 million, and 218.25 million CNY, reflecting significant growth rates [4] - Silver Dragon's projected revenue for the same period is 3.8 billion, 4.7 billion, and 5.6 billion CNY, with net profits expected to reach 370 million, 600 million, and 800 million CNY, indicating a robust growth trajectory [6] Group 3: Market Dynamics - The report notes that the demand for small unmanned precision weapons is increasing due to global instability, which is expected to drive the performance of Zhongtian Rocket [4] - Silver Dragon is positioned to benefit from the growing demand for pre-stressed materials, with a focus on expanding its international business, particularly in Russia [6] Group 4: Investment Strategy - The non-bank financial sector is highlighted as having underperformed, presenting a potential opportunity for investors to reposition their portfolios [7] - The strategy report suggests a rotation into three ETFs, emphasizing the importance of mid-cap indices and the ChiNext index, which are expected to outperform in the current market environment [8]

一、董事会召开情况 陕西中天火箭技术股份有限公司（以下简称"公司"）第四届董事会第二十四次会议于2025年9月8日以电 话、邮件、短信等方式通知公司全体董事。会议于2025年9月14日在公司会议室以现场结合视频会议方 式召开，会议由公司董事长程皓召集并主持，会议应到董事7人，实到董事7人，公司监事及高管列席了 会议，本次会议的出席人数、召集、召开程序和议事内容均符合《中华人民共和国公司法》等有关法律 法规及《公司章程》的规定。 二、董事会会议审议情况 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：003009 证券简称：中天火箭 公告编号：2025-055 债券代码：127071 债券简称：天箭转债 陕西中天火箭技术股份有限公司 第四届董事会第二十四次会议决议公告 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。 （二）审议《关于修订〈股东会议事规则〉的议案》 详见公司同日刊登在《证券时报》、《中国证券报》、巨潮资讯网等公司指定信息披露媒体的《陕西中 天火箭技术股份有限公司股东会议事规则》。 表决结果：同意7票，反对0票，弃权0票。 本议案尚需提交 ...

每经头条（nbdtoutiao）——重大突破！中国这款新药，中美官方都认定有突破性疗效！世界肺癌大会 沸腾了 （记者 曾健辉） 每经AI快讯，中天火箭（SZ 003009，收盘价：49.62元）9月14日晚间发布公告称，公司第四届第二十 四次董事会会议于2025年9月14日在公司会议室以现场结合视频会议方式召开。会议审议了《关于修订 〈公司章程〉的议案》等文件。 2025年1至6月份，中天火箭的营业收入构成为：小型固体火箭及其延伸产品占比100.0%。 截至发稿，中天火箭市值为77亿元。 ...

陕西中天火箭技术股份有限公司 公开发行可转换公司债券 第五次临时受托管理事务报告 （2025 年度） 债券受托管理人 二〇二五年九月 重要声明 股票代码：003009 股票简称：中天火箭 债券代码：127071 债券简称：天箭转债 本报告依据《公司债券发行与交易管理办法》《关于陕西中天火箭技术股份 有限公司公开发行可转换公司债券之债券受托管理协议》（以下简称"《受托管 理协议》"）《陕西中天火箭技术股份有限公司公开发行可转换公司债券募集说 明书》（以下简称"《募集说明书》"）等相关规定，由本次债券受托管理人中国 国际金融股份有限公司（以下简称"中金公司"）编制。中金公司编制本报告的内 容及信息均来源于陕西中天火箭技术股份有限公司提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中金公司所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，中金公 司不承担任何责任。 1 中金公司作为陕西中天火箭技术股份有限公司（以下简称"中天火箭"、"发 行人"、或"公司"）公开发行可转换公司债券（债券简称："天箭转 ...

陕西中天火箭技术股份有限公司 董事会审计委员会工作细则 第一章 总 则 第一条 为强化董事会决策能力，做到事前审计、专业审计，确保董事会对 经理层的有效监督，完善公司治理结构，根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司独立董事管理办法》《上市公司治理准则》《深圳证券交易所股票上 市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范 运作》《深圳证券交易所独立董事和审计委员会履职手册》《陕西中天火箭技术 股份有限公司章程》《陕西中天火箭技术股份有限公司董事会议事规则》及其他 有关规定，公司特设立董事会审计委员会，并制定本工作细则。 第二条 董事会审计委员会（以下简称"审计委员会"）是董事会下设的专 门委员会，主要负责公司财务监督和核查工作，指导内部审计和外部审计机构的 沟通、协调，行使《公司法》规定的监事会的职权，以及依照公司章程和董事会 授权履行职责。 审计委员会成员应当勤勉尽责，切实有效地监督、评估公司内外部审计工作， 促进公司建立有效的内部控制并提供真实、准确、完整的财务报告。 审计委员会成员应当具备履行 ...

陕西中天火箭技术股份有限公司章程 二○二五年九月 | 第一章 | 总 | 则 | 1 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 2 | | 第三章 | 股 | 份 | 3 | | 第一节 | | 股份发行 | 3 | | 第二节 | | 股份增减、回购 | 4 | | 第三节 | | 股份转让 | 5 | | 第四章 | | 股东和股东会 | 6 | | 第一节 | | 股东和实际控制人 | 6 | | 第二节 | | 股东会的一般规定 | 9 | | 第三节 | | 股东会的召集 | 12 | | 第四节 | | 股东会的提案与通知 | 13 | | 第五节 | | 股东会的召开 | 15 | | 第六节 | | 股东会的表决和决议 | 17 | | 第五章 | | 董事会 | 21 | | 第一节 | | 董 事 | 21 | | 第二节 | | 董事会 | 24 | | 第三节 | | 独立董事 | 28 | | 第四节 | | 董事会专门委员会 | 31 | | 第六章 | | 总经理及其他高级管理人员 | 32 | | 第一节 | | 总经理 | ...