Section I Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=Important%20Notice) The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content, with future plans not constituting substantial commitments, and no cash dividends, bonus shares, or capital reserve conversions planned - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[5](index=5&type=chunk) - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital[6](index=6&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the report's eight main chapters, covering company operations, finance, governance, and significant matters, along with their starting page numbers - The report comprises eight main chapters, covering company operations, finance, governance, and significant matters[8](index=8&type=chunk) [Reference Documents](index=4&type=section&id=Reference%20Documents) Reference documents include the semi-annual report summary and full text signed by the legal representative, financial statements, original public disclosure documents, and other related files, available at the company's Securities Investment Department - Reference documents include the semi-annual report summary and full text, financial statements, and original public disclosure documents[10](index=10&type=chunk) - Reference documents are available at the company's Securities Investment Department[11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key technical terms and company-related entities used in the report, such as aerospace electronics, artificial intelligence, satellite big data, and subsidiary names, ensuring clear understanding for readers - The report defines key technical terms including SoC, EMBC, EIPC, SiP, SPARC, facial recognition, intelligent video/image analysis, intelligent surveying, big data operation and maintenance services, micro-nano satellites, micro-nano satellite constellations, satellite big data, video satellites, hyperspectral satellites, AI modules, and AI chips[12](index=12&type=chunk)[13](index=13&type=chunk) - It clarifies that "Aerospace Micro" refers to Zhuhai Aerospace Micro Technology Co., Ltd., and lists the full and abbreviated names of major subsidiaries[13](index=13&type=chunk) Section II Company Profile and Key Financial Indicators [I. Company Profile](index=7&type=section&id=I.%20Company%20Profile) The company's stock ticker is "Aerospace Micro" (300053) listed on the Shenzhen Stock Exchange, with Yan Zhiyu as legal representative, and no changes in contact information or registration during the reporting period Basic Company Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Aerospace Micro | | Stock Code | 300053 | | Listing Exchange | Shenzhen Stock Exchange | | Legal Representative | Yan Zhiyu | - No changes occurred in the company's contact information, information disclosure, reference document locations, or registration during the reporting period, as detailed in the 2024 annual report[17](index=17&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, the company's operating revenue decreased by 3.99% year-on-year, net profit attributable to shareholders significantly dropped by 154.25% to **-62.54 million yuan**, and operating cash flow also declined by 103.77%, while total assets and net assets attributable to shareholders slightly decreased H1 2025 Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 139,996,622.78 | 145,820,999.66 | -3.99% | | Net Profit Attributable to Shareholders of Listed Company | -62,541,309.10 | -24,597,962.57 | -154.25% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | -69,784,868.81 | -33,679,130.86 | -107.21% | | Net Cash Flow from Operating Activities | -37,040,744.13 | -18,177,289.04 | -103.77% | | Basic Earnings Per Share (yuan/share) | -0.0897 | -0.0353 | -154.11% | | Diluted Earnings Per Share (yuan/share) | -0.0897 | -0.0353 | -154.11% | | Weighted Average Return on Net Assets | -3.59% | -1.20% | -2.39% | | **End of Current Reporting Period** | | | | | Total Assets | 2,459,797,884.70 | 2,473,450,165.72 | -0.55% | | Net Assets Attributable to Shareholders of Listed Company | 1,711,750,947.80 | 1,773,984,775.06 | -3.51% | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=8&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company reported no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards during the reporting period - The company reported no differences in net profit and net assets under domestic and overseas accounting standards during the reporting period[21](index=21&type=chunk)[22](index=22&type=chunk) [VI. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) The company's total non-recurring gains and losses for H1 2025 amounted to **7.24 million yuan**, primarily from government subsidies and investment income from entrusted asset management H1 2025 Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Government subsidies recognized in current profit or loss | 6,454,672.42 | | Gains/losses from entrusted investments or asset management | 783,440.86 | | Other non-operating income and expenses apart from the above | 5,445.62 | | Impact on minority interests (after tax) | -0.81 | | **Total** | **7,243,559.71** | - The company has no other profit and loss items meeting the definition of non-recurring gains and losses, nor has it reclassified any non-recurring items as recurring[25](index=25&type=chunk) Section III Management Discussion and Analysis [I. Principal Businesses During the Reporting Period](index=10&type=section&id=I.%20Principal%20Businesses%20During%20the%20Reporting%20Period) The company primarily operates in aerospace electronics, satellite constellations and big data, and artificial intelligence, serving aerospace, satellite applications, and geographic information sectors, with continuous optimization of its operating model [ (I) Industry Overview During the Reporting Period](index=10&type=section&id=%28I%29%20Industry%20Overview%20During%20the%20Reporting%20Period) The company operates in the "Computer, Communication, and Other Electronic Equipment Manufacturing" sector, benefiting from national strategies, with aerospace electronics, AI, satellite big data, smart security, and smart transportation industries experiencing rapid growth and policy support - The company operates in the "C39 Computer, Communication, and Other Electronic Equipment Manufacturing" sector, benefiting from the national "new quality productive forces" development strategy[27](index=27&type=chunk) - The aerospace electronics industry is accelerating under favorable policies and technological advancements, with the global avionics system market expected to recover to **USD 94.7 billion** in 2025, and the Chinese market to grow to **RMB 23.92 billion**[28](index=28&type=chunk)[29](index=29&type=chunk)[31](index=31&type=chunk) - The AI industry continues rapid development, with China's smart chip market reaching **RMB 385 billion** in 2024, a **28.6% year-on-year increase**, projected to exceed **RMB 500 billion** in 2025[32](index=32&type=chunk)[33](index=33&type=chunk)[35](index=35&type=chunk) - Satellite constellation and big data businesses, a core component of commercial aerospace, are entering a high-quality development phase driven by national policies, characterized by "state-led ecosystems, private enterprise breakthroughs, and data-driven applications"[36](index=36&type=chunk)[37](index=37&type=chunk)[39](index=39&type=chunk)[40](index=40&type=chunk) - Demand in the smart security and smart transportation markets is robust, with China's smart security software and hardware market expected to reach **RMB 91.3 billion** in 2025[42](index=42&type=chunk)[43](index=43&type=chunk) [3. Company Industry Position](index=14&type=section&id=3.%20Company%20Industry%20Position) Aerospace Micro is a national high-tech enterprise with multiple surveying qualifications, recognized as a national "Little Giant" enterprise, and has received numerous technology advancement and industry influence awards, including recent innovation honors for its high-performance memory and in-orbit intelligent processing systems - Aerospace Micro is a national high-tech enterprise, holding Class A surveying and mapping qualifications (through its subsidiary Huiyu Intelligent), and has been recognized as a national "Little Giant" enterprise[44](index=44&type=chunk) - The company received honors such as **"Most Innovative Commercial Aerospace Enterprise of 2025"** and **"Outstanding Achievement Enterprise at China Space Day Industry Exhibition"**[45](index=45&type=chunk) - The company's high-performance large-capacity memory (VDRF) received the "Guangdong Province Famous and High-Tech Product Certificate," and its satellite in-orbit intelligent processing system was awarded **"Most Innovative Product of 2025"**[45](index=45&type=chunk) [ (II) Principal Businesses During the Reporting Period](index=14&type=section&id=%28II%29%20Principal%20Businesses%20During%20the%20Reporting%20Period) The parent company focuses on aerospace electronics and AI chips/modules/algorithms for domestic control and innovation, while subsidiaries manage the "Zhuhai-1" satellite constellation, geographic information surveying, and smart security/transportation services - The parent company's aerospace electronics business provides high-reliability core components and modules (SoC, SiP, EMBC) for aerospace and industrial control sectors[46](index=46&type=chunk) - The parent company's artificial intelligence chip/module/algorithm business independently develops Yulong 410/810 AI chips, overcoming import restrictions, and plans for a new generation of Yulong chips[47](index=47&type=chunk) - The subsidiary Satellite Big Data Company operates the "Zhuhai-1" remote sensing micro-nano satellite constellation, offering basic and applied satellite remote sensing data products and services[50](index=50&type=chunk)[51](index=51&type=chunk)[53](index=53&type=chunk) - The subsidiary Huiyu Intelligent provides geographic information surveying, pipeline engineering, and smart platform construction services, enhancing data processing capabilities with AI technology[54](index=54&type=chunk) - The subsidiary Yuanchao Information primarily engages in the sales, installation, and maintenance integration services of smart security video surveillance products[55](index=55&type=chunk) [ (III) Business Model](index=16&type=section&id=%28III%29%20Business%20Model) The company maintains independent production, procurement, sales, and R&D systems, with production primarily in-house, SoC chip fabrication outsourced, direct sales, and project manager-led R&D covering the entire value chain - The production model is primarily in-house product manufacturing, with SoC chip fabrication outsourced and packaging and testing combining in-house and outsourced processes[57](index=57&type=chunk)[58](index=58&type=chunk) - The procurement model involves inquiries, negotiations, and comparisons from at least three suppliers, with contracts signed after multi-departmental review and approval[59](index=59&type=chunk) - The sales model is primarily direct sales, involving early engagement in customer project R&D to provide customized products and services[60](index=60&type=chunk) - The R&D model adopts a project manager responsibility system, led by the Aerospace Electronics Business Unit, encompassing market marketing, technical support, chip products, application development, microsystems, integrated electronics, production, and quality control[61](index=61&type=chunk)[62](index=62&type=chunk) [II. Analysis of Core Competencies](index=18&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core strengths lie in advanced aerospace electronics and image analysis technology, including high-end SPARC V8 processor SoCs, SiP aerospace modules, and the Yulong 810 aerospace-grade AI chip, supported by deep collaboration with national aerospace resources and a comprehensive talent system - The company in aerospace electronics is a leading enterprise in high-end aerospace SPARC V8 processor SoCs, a pioneer in 3D-stacked SiP aerospace modules/systems, and has developed the aerospace-grade AI chip Yulong 810[63](index=63&type=chunk)[64](index=64&type=chunk) - The company has over **two decades** of aerospace system service experience, establishing strong cooperative relationships with aerospace research institutes and deeply collaborating with national aerospace industry resources[65](index=65&type=chunk)[66](index=66&type=chunk) - The company is one of the few enterprises involved in satellite operations and a leader in the remote sensing big data industry, holding a leading position in its niche market[67](index=67&type=chunk) - The "Zhuhai-1" constellation, with **12 satellites launched**, is one of China's largest and most capable commercial remote sensing constellations, filling a gap in the commercial aerospace hyperspectral field[68](index=68&type=chunk) - The company boasts a high-caliber talent pool covering aerospace electronics, artificial intelligence, and geographic information across the entire industry chain, including professors, doctors, and senior engineers[69](index=69&type=chunk) [III. Analysis of Principal Business](index=20&type=section&id=III.%20Analysis%20of%20Principal%20Business) In H1 2025, the company's operating revenue decreased by 3.99% to **139.99 million yuan**, and net profit attributable to shareholders fell by 154.25% to **-62.54 million yuan**, driven by ongoing aerospace electronics and AI chip R&D, satellite big data operations, and smart security/transportation market expansion, despite slight declines in total assets and net assets H1 2025 Principal Business Financial Performance | Indicator | Amount (yuan) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 139,996,622.78 | -3.99% | | Net Profit Attributable to Shareholders of Listed Company | -62,541,309.10 | -154.25% | | Total Assets | 2,459,797,884.70 | -0.55% | | Owners' Equity Attributable to Shareholders of Listed Company | 1,711,750,947.80 | -3.51% | - Aerospace electronics business continues to deepen, achieving market expansion and product application progress, with SOC processor chips applied in second-generation navigation satellite inter-satellite communication systems and SIP 3D-stacked modules in second-generation navigation satellites, while AI Yulong AI chips are used in K-stations and space probes[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) - R&D efforts are advancing the development of Yulong 910, RISC-V, and LCL chips, alongside the completion and deployment of multiple AI algorithms[74](index=74&type=chunk) - The "Zhuhai-1" constellation has launched **12 satellites** (4 video, 8 hyperspectral), with continuous improvement in ground system construction and satellite operation control, executing over **4,000 satellite observation missions** and acquiring nearly **1 PB of data**[78](index=78&type=chunk)[79](index=79&type=chunk) - Geographic information and intelligent surveying businesses have optimized organizational structures and leveraged AI technology to enhance management processes, adding **5 new software copyrights** and improving operational efficiency[84](index=84&type=chunk) - Smart security and smart transportation businesses are steadily progressing, expanding projects such as Guangzhou Panyu District public security video surveillance operations and maintenance, with **3 R&D investments** and **5 qualification updates**[85](index=85&type=chunk) Year-on-Year Changes in Key Financial Data | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 139,996,622.78 | 145,820,999.66 | -3.99% | | | Operating Cost | 90,527,459.16 | 80,102,259.05 | 13.01% | | | Selling Expenses | 8,639,099.21 | 7,985,175.74 | 8.19% | | | Administrative Expenses | 30,509,599.39 | 31,087,483.64 | -1.86% | | | Financial Expenses | 3,127,274.57 | 2,341,162.42 | 33.58% | Primarily due to increased interest expenses in the current reporting period | | Income Tax Expense | -4,005.19 | -118,652.83 | 96.62% | Primarily due to decreased profit in the current reporting period | | R&D Investment | 40,105,697.44 | 68,053,451.37 | -41.07% | Primarily due to reduced outsourced R&D in the current reporting period | | Net Cash Flow from Operating Activities | -37,040,744.13 | -18,177,289.04 | -103.77% | Primarily due to reduced collection of operating receivables in the current reporting period | | Net Cash Flow from Investing Activities | 77,768,385.86 | -74,271,195.20 | 204.71% | Primarily due to reduced investment in wealth management and acquisition of long-term assets in the current reporting period | | Net Cash Flow from Financing Activities | 66,053,107.02 | 29,132,312.04 | 126.73% | Primarily due to obtaining bank loans for operational needs in the current reporting period | | Net Increase in Cash and Cash Equivalents | 107,306,004.80 | -63,323,768.82 | 269.46% | Primarily due to the combined impact of the above factors | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Aerospace Electronics | 57,325,325.74 | 18,946,508.28 | 66.95% | -19.02% | 20.77% | -10.89% | | Satellite Constellation and Satellite Big Data | 35,620,905.70 | 38,189,808.77 | -7.21% | -34.97% | -29.44% | -8.40% | | Artificial Intelligence | 47,050,391.34 | 33,391,142.11 | 29.03% | 132.26% | 224.61% | -20.19% | | SIP Chips | 52,467,126.09 | 15,930,378.49 | 69.64% | -18.38% | 30.89% | -11.43% | | Smart Security and Smart Transportation | 37,441,541.83 | 32,668,703.68 | 12.75% | 177.89% | 259.97% | -19.90% | | AI Chips and Algorithms | 9,608,849.51 | 722,438.43 | 92.48% | 41.64% | -40.36% | 10.34% | [IV. Analysis of Non-Principal Businesses](index=24&type=section&id=IV.%20Analysis%20of%20Non-Principal%20Businesses) Non-principal businesses include investment income, fair value changes, asset impairment, and non-operating income/expenses, with investment income mainly from bank wealth management and equity-accounted investments, and asset impairment from contract asset provisions Non-Principal Business Profit and Loss | Item | Amount (yuan) | Percentage of Total Profit | Explanation | | :--- | :--- | :--- | :--- | | Investment Income | 316,190.28 | -0.50% | Income from purchasing principal-protected bank wealth management products and investment income from equity-accounted associate companies | | Gains/Losses from Fair Value Changes | 0.00 | 0.00% | Primarily income accrued from purchasing principal-protected bank wealth management products | | Asset Impairment | -9,524,455.98 | 15.20% | Provision for impairment of contract assets in accordance with accounting policies | | Non-Operating Income | 6,013.79 | -0.01% | Not sustainable | | Non-Operating Expenses | 568.17 | 0.00% | Not sustainable | [V. Analysis of Assets and Liabilities](index=25&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets slightly decreased by 0.55%, with significant increases in cash and short-term borrowings, and a slight decrease in fixed assets and long-term equity investments, while restricted cash amounted to **12.81 million yuan** Significant Changes in Asset Composition | Item | Amount at End of Current Period (yuan) | Percentage of Total Assets | Amount at End of Prior Year (yuan) | Percentage of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 246,056,009.82 | 10.00% | 134,556,729.71 | 5.44% | 4.56% | | Accounts Receivable | 548,213,070.70 | 22.29% | 525,609,875.16 | 21.25% | 1.04% | | Fixed Assets | 394,880,570.16 | 16.05% | 421,210,796.35 | 17.03% | -0.98% | | Short-Term Borrowings | 234,798,260.72 | 9.55% | 174,397,803.60 | 7.05% | 2.50% | | Contract Liabilities | 100,221,022.30 | 4.07% | 90,354,683.71 | 3.65% | 0.42% | | Long-Term Borrowings | 36,050,432.56 | 1.47% | 28,643,233.00 | 1.16% | 0.31% | Key Overseas Asset Information | Specific Asset Content | Asset Size (yuan) | Location | Profit/Loss Status (yuan) | Proportion of Overseas Assets to Company's Net Assets | | :--- | :--- | :--- | :--- | :--- | | Orbita (Hong Kong) Co., Ltd. | 7,140,047.31 | Hong Kong | 203,539.25 | 0.42% | | Macau Aerospace Technology (Single Person) Co., Ltd. | 5,114,882.36 | Macau | 423,146.43 | 0.30% | - At the end of the reporting period, the company had **12,809,915.32 yuan** in restricted monetary funds, primarily for letter of guarantee deposits and frozen subsidiary bank accounts, with the Qingdao Incubator bank account now unfrozen[103](index=103&type=chunk)[104](index=104&type=chunk) [VI. Analysis of Investment Status](index=27&type=section&id=VI.%20Analysis%20of%20Investment%20Status) The company's investment amount significantly decreased by 75.82% year-on-year, with raised funds primarily allocated to the "Zhuhai-1" remote sensing satellite constellation project and working capital, while no significant equity, non-equity, derivative, or entrusted loan investments occurred Investment Amount During the Reporting Period | Indicator | Amount (yuan) | | :--- | :--- | | Investment Amount in Current Reporting Period | 3,300,000.00 | | Investment Amount in Prior Year Period | 13,650,000.00 | | Change Percentage | -75.82% | Overall Utilization of Raised Funds | Total Raised Funds (10,000 yuan) | Total Used Raised Funds (10,000 yuan) | Total Raised Funds with Changed Purpose (10,000 yuan) | Percentage of Total Raised Funds with Changed Purpose | Total Unused Raised Funds (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | | 108,200 | 103,085.56 | 0 | 0.00% | 11,352.63 | - The construction period for the "Zhuhai-1" remote sensing micro-nano satellite constellation project was repeatedly extended due to delays in rocket development, launch scheduling, and satellite development plan revisions, resulting in lower-than-expected returns[112](index=112&type=chunk) - Unused raised funds are primarily invested in principal-protected low-risk wealth management products such as agreement deposits, notice deposits, structured deposits, and reverse repurchase agreements[113](index=113&type=chunk)[114](index=114&type=chunk) - Entrusted wealth management during the reporting period amounted to **380.04 million yuan**, primarily in bank wealth management products, with no overdue unrecovered amounts[116](index=116&type=chunk)[117](index=117&type=chunk) - The company reported no significant equity investments, non-equity investments, derivative investments, or entrusted loans during the reporting period[117](index=117&type=chunk)[118](index=118&type=chunk) [VII. Disposal of Significant Assets and Equity](index=31&type=section&id=VII.%20Disposal%20of%20Significant%20Assets%20and%20Equity) The company did not dispose of any significant assets or equity during the reporting period - The company did not dispose of significant assets during the reporting period[119](index=119&type=chunk) - The company did not dispose of significant equity during the reporting period[120](index=120&type=chunk) [VIII. Analysis of Major Holding and Associate Companies](index=32&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Associate%20Companies) Major subsidiaries include Zhuhai Orbita Satellite Big Data Co., Ltd., Guangdong Huiyu Intelligent Technology Co., Ltd., Guangzhou Yuanchao Information Technology Co., Ltd., and Qingdao Orbita Incubator Management Co., Ltd., with Satellite Big Data and Huiyu Intelligent reporting net losses, Yuanchao Information achieving profitability, and Qingdao Incubator also incurring losses Financial Performance of Major Holding and Associate Companies (Unit: 10,000 yuan) | Company Name | Company Type | Principal Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhuhai Orbita Satellite Big Data Co., Ltd. | Subsidiary | Satellite big data technology development and services | 6,000.00 | 77,122.38 | 70,085.62 | 1,925.07 | -4,467.85 | -4,467.85 | | Guangdong Huiyu Intelligent Surveying Technology Co., Ltd. | Subsidiary | Intelligent surveying and mapping | 7,900.00 | 23,577.77 | -2,626.34 | 1,637.94 | -1,307.41 | -1,306.86 | | Guangzhou Yuanchao Information Technology Co., Ltd. | Subsidiary | Software development, information system integration services, information technology consulting services | 2,000.00 | 13,110.99 | 4,414.51 | 3,744.15 | 98.24 | 98.24 | | Qingdao Orbita Incubator Management Co., Ltd. | Subsidiary | Enterprise incubator operation (investment promotion, leasing, and sales) and services | 7,000.00 | 24,552.11 | 4,717.98 | 11.85 | -386.75 | -386.75 | - The company neither acquired nor disposed of any subsidiaries during the reporting period[121](index=121&type=chunk) [IX. Structured Entities Controlled by the Company](index=32&type=section&id=IX.%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[122](index=122&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=32&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks including rapid technological updates, management complexity, market expansion shortfalls, talent loss, goodwill impairment, underperforming fundraising projects, and high accounts receivable, addressed through continuous R&D, organizational optimization, market expansion, talent retention, subsidiary development, and enhanced receivables collection - Technology Risk: The industry experiences rapid technological and product updates, which the company addresses through continuous R&D investment and accelerated product upgrades[122](index=122&type=chunk) - Management Risk: Increased business segments lead to management complexity, which the company addresses by optimizing organizational structure, improving governance, and strengthening internal controls[124](index=124&type=chunk) - Market Expansion Risk: Market expansion progress is slower than anticipated, which the company addresses by intensifying market expansion efforts and improving its marketing system[125](index=125&type=chunk) - Talent Loss Risk: High dependence on highly qualified professionals is addressed by improving talent acquisition, training, incentive, and retention mechanisms[125](index=125&type=chunk) - Goodwill Impairment Risk: The company has a certain amount of goodwill, and it will actively promote subsidiary business development to mitigate impairment risk[126](index=126&type=chunk) - Fundraising Project Implementation Risk: The "Zhuhai-1" remote sensing micro-nano satellite constellation project may not achieve its intended goals, which the company addresses by leveraging its demonstration effect, promoting new models, and refining its industry chain layout[127](index=127&type=chunk) - High Accounts Receivable Risk: The company faces the risk of bad debt losses, which it addresses by strengthening accounts receivable collection, improving collection supervision mechanisms, and employing legal means[128](index=128&type=chunk) [XI. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=33&type=section&id=XI.%20Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) On May 9, 2025, the company hosted an online performance briefing for all investors, discussing its 2024 annual performance and operational status - On **May 9, 2025**, the company hosted an online investor briefing to discuss its 2024 annual performance and operational status[130](index=130&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=34&type=section&id=XII.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company adopted a "Market Value Management System" on April 25, 2025, to regulate market value management and protect stakeholder interests, but has not disclosed a valuation enhancement plan - The company has formulated and approved a **"Market Value Management System"** to regulate market value management activities[131](index=131&type=chunk) - The company has not disclosed a valuation enhancement plan[131](index=131&type=chunk) [XIII. Implementation of 'Quality and Return Dual Improvement' Action Plan](index=34&type=section&id=XIII.%20Implementation%20of%20%27Quality%20and%20Return%20Dual%20Improvement%27%20Action%20Plan) The company did not disclose any announcements regarding the "Quality and Return Dual Improvement" action plan during the reporting period - The company did not disclose any announcements regarding the "Quality and Return Dual Improvement" action plan during the reporting period[132](index=132&type=chunk) Section IV Corporate Governance, Environment, and Society [I. Changes in Directors, Supervisors, and Senior Management](index=34&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, independent director Fu Jin resigned for personal reasons, and Cui Wenhao was elected as an independent director Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Fu Jin | Independent Director | Resignation | July 14, 2025 | Personal reasons | | Cui Wenhao | Independent Director | Election | July 14, 2025 | Job transfer | [II. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=34&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[134](index=134&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=34&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period[135](index=135&type=chunk) [IV. Environmental Information Disclosure](index=35&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its major subsidiaries are not included in the list of enterprises required to disclose environmental information by law - The company and its major subsidiaries are not included in the list of enterprises legally required to disclose environmental information[136](index=136&type=chunk) [V. Social Responsibility](index=35&type=section&id=V.%20Social%20Responsibility) The company actively fulfilled its social responsibilities during the reporting period by protecting shareholder rights, fostering good relationships with suppliers and customers, safeguarding employee labor rights, providing training, and operating lawfully while paying taxes to contribute to society - The company protects shareholder rights by establishing sound governance systems, improving internal controls, disclosing information truthfully and accurately, and actively engaging with investors through surveys[136](index=136&type=chunk) - The company adheres to integrity, respects and protects the legitimate rights and interests of suppliers and customers, avoids intellectual property infringement, and maintains good cooperative relationships[137](index=137&type=chunk) - The company strictly complies with labor laws and regulations, optimizes human resource management systems, safeguards employee labor rights, and focuses on employee training and career planning[138](index=138&type=chunk) - The company operates lawfully, pays taxes in accordance with the law, and is committed to strengthening the enterprise to provide more employment opportunities and give back to society[139](index=139&type=chunk) Section V Significant Matters [I. Fulfilled and Overdue Unfulfilled Commitments by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period](index=36&type=section&id=I.%20Fulfilled%20and%20Overdue%20Unfulfilled%20Commitments%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period) The company reported no fulfilled or overdue unfulfilled commitments by its controlling shareholder, shareholders, related parties, acquirers, or the company itself during the reporting period - The company reported no unfulfilled commitments during the reporting period[141](index=141&type=chunk) [II. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties](index=36&type=section&id=II.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties) The company reported no non-operating funds occupied by its controlling shareholder or other related parties during the reporting period - The company reported no non-operating funds occupied by its controlling shareholder or other related parties during the reporting period[142](index=142&type=chunk) [III. Irregular External Guarantees](index=36&type=section&id=III.%20Irregular%20External%20Guarantees) The company reported no irregular external guarantees during the reporting period - The company reported no irregular external guarantees during the reporting period[143](index=143&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=36&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report was unaudited - The company's semi-annual report was unaudited[144](index=144&type=chunk) [V. Board of Directors, Supervisory Board, and Audit Committee Explanations on 'Non-Standard Audit Report' for the Current Period](index=36&type=section&id=V.%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Audit%20Committee%20Explanations%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Period) The company reported no non-standard audit reports during the reporting period - The company reported no non-standard audit reports during the reporting period[145](index=145&type=chunk) [VI. Board of Directors' Explanation on 'Non-Standard Audit Report' for the Previous Year](index=36&type=section&id=VI.%20Board%20of%20Directors%27%20Explanation%20on%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Previous%20Year) The company reported no explanations regarding the previous year's non-standard audit report during the reporting period - The company reported no explanations regarding the previous year's non-standard audit report during the reporting period[145](index=145&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=36&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) The company reported no bankruptcy and reorganization matters during the reporting period - The company reported no bankruptcy and reorganization matters during the reporting period[145](index=145&type=chunk) [VIII. Litigation Matters](index=36&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation or arbitration matters during the reporting period, with other ongoing or withdrawn cases having no material impact on profit - The company had no significant litigation or arbitration matters during the reporting period[146](index=146&type=chunk) - A partnership contract dispute with Guangzhou Yingzhi Electronics Co., Ltd., involving **RMB 9.84 million**, is undergoing first-instance trial and has no material impact on the company's profit[147](index=147&type=chunk) - A construction contract dispute with Shanghai Jin nuo Construction Decoration Engineering Co., Ltd., involving **RMB 7.08 million**, was withdrawn by the plaintiff and has no material impact on the company's profit[147](index=147&type=chunk) - As of **June 30, 2025**, the company and its controlled subsidiaries were defendants or co-defendants in **10 other lawsuits**, involving **RMB 5.70 million**, with no material impact on the company's profit[147](index=147&type=chunk) - As of **June 30, 2025**, the company and its controlled subsidiaries were plaintiffs or co-plaintiffs in **21 lawsuits**, involving **RMB 26.94 million**, with no material impact on the company's profit[147](index=147&type=chunk) [IX. Penalties and Rectification](index=37&type=section&id=IX.%20Penalties%20and%20Rectification) The company reported no penalties or rectification situations during the reporting period - The company reported no penalties or rectification situations during the reporting period[148](index=148&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=37&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) The company reported no issues regarding the integrity status of itself, its controlling shareholder, or its actual controller during the reporting period - The company reported no issues regarding the integrity status of itself, its controlling shareholder, or its actual controller during the reporting period[149](index=149&type=chunk) [XI. Significant Related Party Transactions](index=37&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) The company reported no significant related party transactions during the reporting period, including those related to daily operations, asset/equity acquisitions/disposals, joint external investments, related party receivables/payables, or financial company dealings - The company reported no related party transactions related to daily operations during the reporting period[149](index=149&type=chunk) - The company reported no related party transactions involving asset or equity acquisition/disposal during the reporting period[150](index=150&type=chunk) - The company reported no related party transactions involving joint external investments during the reporting period[151](index=151&type=chunk) - The company reported no related party receivables or payables during the reporting period[152](index=152&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and related financial companies, or between the company's controlled financial company and related parties[153](index=153&type=chunk)[154](index=154&type=chunk) - The company reported no other significant related party transactions during the reporting period[155](index=155&type=chunk) [XII. Significant Contracts and Their Performance](index=38&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company reported no significant entrustment, contracting, leasing, or guarantee matters, nor any other significant contracts during the reporting period - The company reported no entrustment situations during the reporting period[156](index=156&type=chunk) - The company reported no contracting situations during the reporting period[157](index=157&type=chunk) - The company reported no leasing situations during the reporting period[158](index=158&type=chunk) - The company reported no significant guarantee situations during the reporting period[159](index=159&type=chunk) - The company reported no other significant contracts during the reporting period[162](index=162&type=chunk) [XIII. Explanation of Other Significant Matters](index=39&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters)

风险提示：股市有风险，投资需谨慎。 来源：金融界 广东省近期发布《广东省推动商业航天高质量发展若干政策措施》，明确提出支持企业投资建设民商用 卫星星座，鼓励采购国产卫星数据产品。政策还提出为相关项目提供"绿色通道"服务，并对成功组网运 营的企业研究事后奖励措施。 8月21日航宇微主力资金净流出9297.2万元，占流通市值的0.99%。近五个交易日累计净流出1.27亿元， 占流通市值的1.36%。 航宇微8月21日股价报14.45元，较前一交易日下跌0.46元，跌幅3.09%。当日开盘价为14.60元，最高触 及14.86元，最低下探至14.40元，成交量为54.88万手，成交金额达8亿元。 航宇微主营业务涵盖宇航电子、卫星大数据、人工智能等领域，是广东省内重要的航天科技企业。公司 产品广泛应用于卫星导航、航空航天等高科技领域。 ...

Group 1 - The semiconductor sector in the A-share market has shown strong performance, with notable increases in stock prices for several companies [1] - Chipone Technology (688521) saw a significant rise of 15.86%, with a total market capitalization of 77.5 billion and a year-to-date increase of 181.27% [2] - Aiwei Electronics (688798) increased by 13.02%, with a market cap of 21.4 billion and a year-to-date rise of 32.40% [2] Group 2 - Other companies such as Shengke Communication (688702) and Chengdu Huamei (688709) experienced gains of 8.76% and 8.35% respectively, with market caps of 41.2 billion and 24.7 billion [2] - Nanchip Technology (688484) rose by 7.99%, with a market cap of 21.1 billion and a year-to-date increase of 38.41% [2] - The overall trend indicates a positive momentum in the semiconductor sector, supported by the formation of MACD golden cross signals [1]

证券代码：300053 证券简称：航宇微 公告编号：2025-035 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 六届董事会第十四次会议以现场结合通讯表决的方式召开。本次会议应到董事 8 名，实际出席董事 8 名，其中以通讯表决方式出席会议的董事 4 名，分别为邓湘 湘女士、周宁女士、崔文浩先生和张毅先生。公司监事和高级管理人员列席了本 次会议。本次会议的会议通知于 2025 年 8 月 13 日以电子邮件和信息通知的方 式发出。 根据公司《董事会议事规则》的规定，会议召集人对本次针对紧急情况临时 召开会议的安排进行了说明，会议通知的时间、形式符合相关规定。本次会议的 召集、召开符合《公司法》及《公司章程》的规定。本次会议由公司董事会半数 以上董事共同推举董事颜志宇先生作为本次会议主持人，出席会议董事经审议， 形成以下决议： 珠海航宇微科技股份有限公司 一、审议通过了《关于推举并授权董事代行董事长职责的议案》 《关于董事长辞职暨推举并授权董事代为履行职责的公告》具体内容详见中 国证监会指定创业板信息披露网站巨潮资讯网（http://www.cninfo.com. ...

关于召开 2025 年第二次临时股东大会的通知 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 根据《公司法》和《公司章程》的有关规定，经珠海航宇微科技股份有限公 司(以下简称"公司")第六届董事会第十四次会议审议通过，决定于 2025 年 9 月 1 日（星期一）召开公司 2025 年第二次临时股东大会，现将会议有关事项通知如 下： 一、召开会议的基本情况 于召开公司2025年第二次临时股东大会的议案》，本次会议召集程序符合有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。 （1）现场会议召开日期和时间：2025年9月1日（星期一）下午15:00； （2）网络投票日期和时间：2025年9月1日。 证券代码：300053 证券简称：航宇微 公告编号：2025-038 珠海航宇微科技股份有限公司 其中，通过深圳证券交易所交易系统进行网络投票的时间为2025年9月1日 上午9:15-9:25、9:30-11:30，下午13:00-15:00；通过深圳证券交易所互联网系 统投票的具体时间为2025年9月1日9:15-15:00期间的任意时间。 召开。 （1 ...

本事项尚需提交公司 2025 年第二次临时股东大会审议。 特此公告。 珠海航宇微科技股份有限公司（以下简称"公司"）董事长周伟先生因工作 调整，申请辞去公司第六届董事会董事、董事长、董事会战略发展委员会主任委 员、董事会审计委员会委员的职务，辞职后将不再担任公司任何职务。具体内容 详见公司同日披露的《关于董事长辞职暨推举并授权董事代为履行职责的公告》 （公告编号：2025-036）。 公司于 2025 年 8 月 14 日召开了第六届董事会第十四次会议，审议通过了 《关于补选公司第六届董事会非独立董事的议案》，为保障公司董事会规范运作， 根据《公司法》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市 公司规范运作》等法律法规、规范性文件及《公司章程》的有关规定，经公司股 东珠海格力金融投资管理有限公司提名及第六届董事会提名委员会资格审查，公 司董事会同意推选杨涛先生为公司第六届董事会非独立董事候选人，任期自公司 股东大会审议通过之日起至公司第六届董事会届满之日止。杨涛先生的简历详见 附件。 证券代码：300053 证券简称：航宇微 公告编号：2025-037 珠海航宇微科技股份有限公司 本公司及董 ...

证券代码：300053 证券简称：航宇微 公告编号：2025-036 公司及董事会对周伟先生在担任公司董事长期间为公司发展所作出的贡献 表示衷心感谢！ 特此公告。 珠海航宇微科技股份有限公司 董 事 会 珠海航宇微科技股份有限公司（以下简称"公司"）董事会于近日收到公司 董事长周伟先生的书面辞职报告，周伟先生因工作调整，申请辞去公司第六届董 事会董事、董事长、董事会战略发展委员会主任委员、董事会审计委员会委员的 职务，周伟先生辞职后将不再担任公司任何职务。 周伟先生作为公司董事长的原定任期为 2024 年 6 月 6 日至 2026 年 6 月 1 日届满。截至本公告披露日，周伟先生未持有公司股票，亦不存在应当履行而未 履行的承诺事项，其辞职不会影响公司的正常生产经营。 根据《中华人民共和国公司法》《深圳证券交易所上市公司自律监管指引第 导致公司董事会成员低于法定人数，不会影响公司董事会的正常运作，其辞职报 告自送达公司董事会之日起生效。 为保证公司经营决策顺利及董事会正常运作，经公司董事会全体董事推举并 经第六届董事会第十四次会议审议通过，由公司董事颜志宇先生代行董事长及董 事会战略发展委员会主任委员职责， ...

（编辑 李家琪） 证券日报网讯 8月14日晚间，航宇微发布公告称，公司于2025年8月14日召开了第六届董事会第十四次 会议，审议通过了《关于补选公司第六届董事会非独立董事的议案》，为保障公司董事会规范运作，经 公司股东珠海格力金融投资管理有限公司提名及第六届董事会提名委员会资格审查，公司董事会同意推 选杨涛先生为公司第六届董事会非独立董事候选人，任期自公司股东大会审议通过之日起至公司第六届 董事会届满之日止。 ...

（文章来源：证券日报） 证券日报网讯 8月14日晚间，航宇微发布公告称，公司第六届董事会第十四次会议审议通过了《关于召 开公司2025年第二次临时股东大会的议案》等多项议案。 ...

证券日报网讯8月14日晚间，航宇微（300053）发布公告称，由公司董事颜志宇先生代行董事长及董事 会战略发展委员会主任委员职责，由公司独立董事张毅先生代行董事会审计委员会委员职责，直至选举 产生新任董事长之日止。 ...