Market Performance - The military electronics sector rose by 0.39% on September 24, with Guankang Technology leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Key Stocks in Military Electronics Sector - Guankang Technology (301213) closed at 55.11, up 6.16% with a trading volume of 45,500 shares and a turnover of 251 million [1] - Sichuang Electronics (600990) closed at 29.40, up 5.98% with a trading volume of 157,900 shares and a turnover of 449 million [1] - ST Tianwei (688511) closed at 21.86, up 5.60% with a trading volume of 11,600 shares and a turnover of approximately 25.24 million [1] - Aerospace Nanhai (688552) closed at 39.49, up 5.17% with a trading volume of 101,000 shares and a turnover of 391 million [1] - Zhenxin Technology (300101) closed at 25.09, up 4.45% with a trading volume of 167,900 shares and a turnover of 416 million [1] Fund Flow Analysis - The military electronics sector experienced a net outflow of 442 million from institutional investors, while retail investors saw a net inflow of 498 million [2] - The top stocks with significant fund flows included: - Aopu Optoelectronics (002338) with a net inflow of 86.90 million from institutional investors [3] - Sichuang Electronics (600990) with a net inflow of 57.72 million from institutional investors [3] - Ruichuang Weina (688002) with a net inflow of 34.46 million from institutional investors [3]

Core Viewpoint - The general aviation ETF (159378) is experiencing active trading with a notable increase in its component stocks, particularly Zhuhai Guanyu, which rose over 8% [3] Group 1: Market Performance - As of September 24, the general aviation ETF (159378) increased by 2.13% [3] - Zhuhai Guanyu's stock surged by 8.41%, with a trading volume of 44.93 million and a transaction value of 1.086 billion [4] - Other notable stocks include Lais Information (+5.13%), Zhenxin Technology (+4.20%), and Wan Feng Aowei (+3.45%) [4] Group 2: Industry Events - The 2025 Shenzhen eVTOL Industry Development Conference and Low Altitude Economy Exhibition commenced on September 23, featuring over 300 leading companies and innovative institutions [5] - The eVTOL exhibition area showcased advanced eVTOL aircraft, including flying cars and various rotorcraft designs [5] Group 3: Economic Outlook - The low altitude economy is projected to exceed 1.5 trillion by 2025 and could reach between 3.5 trillion to 6 trillion by 2035, becoming a core growth driver for economic transformation [6] - Despite a relative stagnation in the low altitude economy sector this year, it remains a significant direction for new productive forces, with expectations of increased funding and high industry prosperity [6] Group 4: Investment Tools - The general aviation ETF (159378) is the first and largest ETF product in its category, focusing on the low altitude economy and drones, serving as a valuable tool for investing in this sector [6][8] - As of September 23, the general aviation ETF had a scale of 1.137 billion [8]

Group 1 - The core viewpoint of the news is the performance and market position of Chengdu Zhixin Technology Co., Ltd., which has seen a stock price increase of 5.12% to 25.25 CNY per share, with a total market capitalization of 14.34 billion CNY [1] - Chengdu Zhixin Technology specializes in the "components-terminals-systems" industry chain related to Beidou satellite navigation, focusing on key components, high-performance integrated circuits, and navigation terminal design, development, production, and sales [1] - The company's revenue composition includes integrated circuit business at 50.23%, Beidou navigation comprehensive applications at 35.43%, smart city construction and operation services at 11.34%, machine perception and intelligent products at 2.44%, and others at 0.57% [1] Group 2 - The Huaren Yuanda Anxin Flexible Allocation Mixed A Fund holds a significant position in Zhixin Technology, with 11,200 shares, accounting for 3.91% of the fund's net value, ranking as the tenth largest holding [2] - The fund has achieved a year-to-date return of 17.7% and a one-year return of 35.97%, with a total fund size of 6.3752 million CNY [2] - The fund manager, Li Wuqin, has a tenure of 9 years and 160 days, with the best fund return during this period being 101.12% [3]

Core Viewpoint - Zhenxin Technology's stock price has shown fluctuations, with a year-to-date increase of 13.36% and a recent decline in the last five and twenty trading days [1] Company Overview - Zhenxin Technology, established on June 12, 2003, and listed on August 6, 2010, is based in Chengdu, Sichuan Province. The company focuses on the "components-terminal-system" industry chain related to Beidou satellite navigation, providing products and services [1] - The main business revenue composition includes: integrated circuit business 50.23%, comprehensive Beidou navigation applications 35.43%, smart city construction and operation services 11.34%, machine perception and intelligent products 2.44%, and others 0.57% [1] Financial Performance - For the first half of 2025, Zhenxin Technology achieved operating revenue of 483 million yuan, a year-on-year increase of 36.44%, and a net profit attributable to shareholders of 65.55 million yuan, also up 36.71% year-on-year [2] - Since its A-share listing, Zhenxin Technology has distributed a total of 189 million yuan in dividends, with 41.51 million yuan distributed in the last three years [3] Shareholder Structure - As of June 30, 2025, Zhenxin Technology had 47,300 shareholders, a decrease of 12.35% from the previous period, with an average of 11,967 circulating shares per person, an increase of 14.10% [2] - The top ten circulating shareholders include notable funds such as Quan Guo Xu Yuan Mixed A and Hua Xia Industry Prosperity Mixed, with significant changes in holdings [4]

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown significant growth in both scale and share, indicating strong investor interest in the aerospace sector, particularly in companies involved in advanced technologies and military applications [3][4]. Group 1: ETF Performance - As of September 18, 2025, the aerospace ETF Tianhong (159241) increased by 1.23%, with a turnover of 8.78% and a transaction volume of 39.2827 million yuan [3]. - The ETF has seen a weekly scale growth of 2.4731 million yuan, ranking first among comparable funds, and a share increase of 5 million units [3]. - In the last three days, the ETF attracted a net inflow of 11.2857 million yuan [3]. Group 2: Sector Highlights - The aerospace ETF Tianhong (159241) closely tracks the National Aerospace and Aviation Industry Index, which includes sectors such as aerospace equipment, military electronics, and satellite internet, highlighting the high-tech barriers and strong R&D attributes of these industries [4]. - Hefei Xinghuo Space Technology Co., Ltd. recently completed a 55 million yuan angel round financing, with total financing nearing 100 million yuan, focusing on the development of China's first electric cycle liquid launch vehicle [5]. - The Chinese low-altitude economy market is projected to reach 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035, with financial institutions actively investing in this emerging sector [5]. Group 3: Institutional Insights - Zhonghang Securities emphasizes that satellite internet can extend traditional internet services to broader areas, facilitating information integration and breaking down service barriers, thus creating new opportunities for industry development [6]. - The integration of satellite internet with low-altitude economy, vehicle networking, and other new fields can enhance communication and operational capabilities [6].

Group 1 - The company, Zhenxin Technology (300101), announced that as of the date of the announcement, it and its controlling subsidiaries have no overdue external guarantees, no external guarantees involved in litigation, and no losses incurred due to being judged against in guarantees [1]

Group 1 - Company intends to apply for a two-year working capital loan of up to 20 million RMB from Industrial Bank Co., Ltd. Chengdu Branch, with a guarantee provided by the company for its wholly-owned subsidiary, Chengdu Guoyi Electronic Technology Co., Ltd. [1] - The total amount of external guarantees provided by the company, after board approval, will reach 100 million RMB, accounting for 5.61% of the company's audited net assets attributable to shareholders for the year 2024. [1] - For the year 2024, the revenue composition of the company is as follows: integrated circuit business accounts for 47.62%, Beidou terminal and operation accounts for 30.84%, security monitoring accounts for 15.59%, machine perception and intelligent products account for 4.64%, and others account for 1.29%. [1] Group 2 - The current market capitalization of the company is 14 billion RMB. [2]

成都振芯科技股份有限公司 第六届董事会第十次临时会议决议公告 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。 成都振芯科技股份有限公司（以下简称"公司"）董事会于 2025 年 9 月 11 日以书面方式向全体董事发出第六届董事会第十次临时会议（以下简称"本次会 议"）通知，本次会议于 2025 年 9 月 17 日以现场表决及通讯表决的方式召开， 应参会董事 9 人，实际参会董事 9 人。本次会议的通知和召开符合有关法律法规 和《成都振芯科技股份有限公司章程》的有关规定。 本次会议由董事长谢俊先生主持，经参会董事审议与表决，本次会议通过了 以下议案： 1. 审议通过《关于为全资子公司申请银行贷款提供担保的议案》 公司全资子公司成都国翼电子技术有限公司（以下简称"国翼电子"）因生 产经营需要，拟向兴业银行股份有限公司成都分行申请不超过 2,000 万元人民币的 两年期流动资金贷款，并由公司为其提供连带责任保证担保。 公司董事会认为：鉴于国翼电子目前财务状况稳定，经营情况良好，具备债 务偿还能力，且本次确定的担保额度的财务风险处于公司可控范围之内，不会对 公司经 ...

证券代码：300101 证券简称：振芯科技 公告编号：2025-061 成都振芯科技股份有限公司 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、担保情况概述 1、成都振芯科技股份有限公司（以下简称"公司"）全资子公司成都国翼电 子技术有限公司（以下简称"国翼电子"）因生产经营需要，拟向兴业银行股份 有限公司成都分行（以下简称"兴业银行"）申请不超过 2,000 万元人民币的两年 期流动资金贷款，并由公司为其提供连带责任保证担保。鉴于国翼电子目前财务 状况稳定，经营情况良好，财务风险可控，公司拟为国翼电子申请上述贷款提供 保证担保。 2、公司于 2025 年 9 月 17 日召开的第六届董事会第十次临时会议审议通过了 《关于为全资子公司申请银行贷款提供担保的议案》。根据《上市公司监管指引第 8 号——上市公司资金往来、对外担保的监管要求》《深圳证券交易所创业板股票 上市规则》《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》《成都振芯科技股份有限公司章程》等相关规定，本次担保在公司董 事会审批权限范围内，无需提交股东大会审议。 二 ...

Group 1: Company Overview and Strategy - The company has deep technical expertise in integrated circuits and Beidou navigation, focusing on intelligent solutions and aiming to become a leader in "specific industries + AI" [2][4]. - The company is constructing a comprehensive development framework of "cloud, network, group, end, intelligence" to enhance its capabilities in providing all-around intelligent solutions [2][4]. - A wholly-owned subsidiary, Chengdu Xinzhi Xinghe Technology Co., Ltd., has been established to strengthen core competitiveness in the "end" and "intelligence" sectors [3][4]. Group 2: Competitive Advantages - The company's core competitive advantages include R&D, product, market, and talent advantages, supported by a stable core team and a strong technological foundation [3][4]. - The company is recognized as a national-level private high-tech enterprise, which enhances its credibility and market position [3][4]. Group 3: Financial Performance and Dividend Policy - The company plans to maintain a cash dividend exceeding 30% of the average net profit over the last three years, ensuring a balance between shareholder returns and funding for development projects [6][7]. - The 2024 profit distribution plan is based on actual operating conditions, cash needs, and investor returns, with a commitment to legal and regulatory compliance [6][7]. Group 4: Future Developments and Innovations - The company is not currently involved in AI chip development but is focusing on intelligent communication control and processing functions in RF chips [9][12]. - Future plans include accelerating the application of AI technology in specialized industries and vertical applications, aiming to meet new demands for "device autonomy" and "decision-making intelligence" [12].