证券代码：300102 证券简称：乾照光电 公告编号：2025-119 厦门乾照光电股份有限公司 关于召开 2025 年第三次临时股东大会通知的公告 4、会议时间： （1）现场会议时间：2025 年 12 月 26 日 16:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 26 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票系统投票的具体时间为 2025 年 12 月 26 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 12 月 23 日 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、召开会议的基本情况 1、股东大会届次：2025 年第三次临时股东大会 2、股东大会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、行政法规、部门规章、 ...

证券代码：300102 证券简称：乾照光电 公告编号：2025-114 厦门乾照光电股份有限公司 第六届监事会第十五次会议决议公告 本公司及监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、监事会会议召开情况 （一）审议通过《关于 2026 年度向金融机构及类金融企业申请授信额度及 相应担保事项的议案》 经认真审核，监事会认为：本次公司及子公司向金融机构及类金融企业申请 综合融资授信额度及公司为子公司提供担保事项有利于公司及下属公司日常经 营业务的更好开展，符合公司整体利益。本次提供担保的对象均为公司下属全资 子公司，担保风险可控；同时本次担保内容及决策程序符合法律法规相关规定， 不存在损害公司及全体股东利益的情形。监事会同意 2026 年度向金融机构及类 金融企业申请授信额度及相应担保事项。 具体内容详见公司刊登于巨潮资讯网（www.cninfo.com.cn）的相关公告。 表决结果：3 名与会监事，3 票同意，0 票反对，0 票弃权，获得通过。 1 / 2 本议案尚需提交公司股东大会审议。 （二）审议通过《关于与海信集团财务有限公司续签<金融服务协议>暨关联 交 ...

证券代码：300102 证券简称：乾照光电 公告编号：2025-113 厦门乾照光电股份有限公司 第六届董事会第十六次会议决议公告 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 厦门乾照光电股份有限公司（以下简称"公司"）第六届董事会第十六次会 议于 2025 年 12 月 8 日（星期一）下午 16:00 以现场会议和通讯会议相结合的方 式在公司会议室召开。会议通知于 2025 年 12 月 2 日以电子邮件等方式发至全体 董事。会议应到董事 8 名，实到董事 8 名，其中独立董事实际出席 3 名。会议的 召开符合《中华人民共和国公司法》和《厦门乾照光电股份有限公司章程》（以 下简称"《公司章程》"）的有关规定，会议由公司董事长李敏华先生主持，公司 监事、高级管理人员等相关人员列席了会议。 二、董事会会议审议情况 会议以书面投票表决方式审议通过了如下议案： （一）审议通过《关于 2026 年度向金融机构及类金融企业申请授信额度及 相应担保事项的议案》 经审议，董事会认为：本次公司及子公司向金融机构及类金融企业申请综合 融资授信额度及 ...

每经AI快讯，乾照光电（SZ 300102，收盘价：23.59元）12月8日晚间发布公告称，公司第六届第十六 次董事会会议于2025年12月8日在公司会议室召开。会议审议了《关于修订 <公司章程> 、取消监事会 暨办理工商变更登记的议案》等文件。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 （记者 曾健辉） 截至发稿，乾照光电市值为217亿元。 ...

沪指12月8日上涨0.54%，申万所属行业中，今日上涨的有25个，涨幅居前的行业为通信、综合，涨幅 分别为4.79%、3.03%。电子行业位居今日涨幅榜第三。跌幅居前的行业为煤炭、石油石化，跌幅分别 为1.43%、0.84%。 资金面上看，两市主力资金全天净流入26.02亿元，今日有15个行业主力资金净流入，电子行业主力资 金净流入规模居首，该行业今日上涨2.60%，全天净流入资金82.73亿元，其次是通信行业，日涨幅为 4.79%，净流入资金为23.87亿元。 主力资金净流出的行业有16个，国防军工行业主力资金净流出规模居首，全天净流出资金35.67亿元， 其次是医药生物行业，净流出资金为27.00亿元，净流出资金较多的还有食品饮料、基础化工、公用事 业等行业。 电子行业今日上涨2.60%，全天主力资金净流入82.73亿元，该行业所属的个股共472只，今日上涨的有 404只，涨停的有10只；下跌的有64只。以资金流向数据进行统计，该行业资金净流入的个股有237只， 其中，净流入资金超亿元的有38只，净流入资金居首的是香农芯创，今日净流入资金10.65亿元，紧随 其后的是胜宏科技、寒武纪-U，净流入资金分别为 ...

《上海卫星互联网产业报告（2025）》统计数据显示，近10年来我国卫星发射年复合增长率超过27%。 随着千帆星座、星网星座、鸿鹄星座等主要项目的常态化发射，未来将加速增长。 中金公司（601995）表示，当前全球商业航天正呈现出蓬勃发展的良好局面，这一趋势正强力牵引着火 箭发射需求不断攀升。建议密切关注全球商业航天发展动态以及国内复用火箭的研发进展，把握其中蕴 含的投资机会，提前布局相关优质标的，分享商业航天发展带来的红利。 本周，A股小幅震荡上扬，上证指数收复3900点，深证成指也回到13000点之上，并创半个月来新高， 北证50则再度站上1400点。周成交进一步降低至8.48万亿元，创近5个月来新低（完整周）。 融资客本周再度加仓99.89亿元，其中电子行业获得逾29亿元融资净买入，机械设备、有色金属等行业 均获得逾27亿元净买入，国防军工、汽车、食品饮料等行业也都获得超10亿元净买入。公用事业行业则 被融资净卖出9.9亿元，电力设备、基础化工、计算机、传媒等行业也被净卖出超亿元。 数据统计显示，电子行业全周获得逾313亿元主力资金净流入，机械设备行业获得逾296亿元净流入，通 信行业获得逾218亿元净流 ...

Market Overview - As of December 5, the Shanghai Composite Index closed at 3902.81 points, up 27.01 points, with a gain of 0.70% [1] - The Shenzhen Component Index closed at 13147.68 points, up 140.96 points, with a gain of 1.08% [1] - The ChiNext Index closed at 3109.30 points, up 41.81 points, with a gain of 1.36% [1] Stock Performance - A total of 82 A-shares had a turnover rate exceeding 20% on this day, with N-Moore-U reaching a turnover rate of over 50% [1] - N-Moore-U (688795) had a closing price of 600.50 CNY, with a turnover rate of 85.49% and a remarkable increase of 425.46% [1] - Other notable stocks with high turnover rates include: - Chuling Information (300250) with a turnover rate of 46.01% and a decline of 7.22% [1] - Sichuan Jinding (600678) with a turnover rate of 44.89% and a slight decline of 0.74% [1] - C China Uranium (001280) with a turnover rate of 44.11% and a decrease of 5.18% [1] - Jinfu Technology (003018) with a turnover rate of 43.71% and a marginal increase of 0.10% [1] Additional Notable Stocks - Weston (301315) closed at 66.30 CNY with a turnover rate of 43.08% and an increase of 5.20% [1] - Haixin Food (002702) closed at 9.55 CNY with a turnover rate of 42.20% and a gain of 10.02% [1] - Tongyu Communication (002792) closed at 29.47 CNY with a turnover rate of 41.60% and an increase of 4.73% [1] - Other stocks with significant turnover rates include: - Huawu Co., Ltd. (300095) with a turnover rate of 39.34% and a decline of 2.40% [1] - Zhongneng Electric (300062) with a turnover rate of 38.89% and an increase of 12.76% [1] - Xiaocheng Technology (300139) with a turnover rate of 38.76% and a gain of 14.62% [1]

Group 1: China Satellite (600118) - China Satellite is a leading player in the domestic satellite manufacturing sector and a key support for the national satellite internet strategy, handling over 50% of domestic low-orbit communication satellite orders [1][20] - The company has a monopoly advantage in small and micro-satellite platform technology, with products covering optical remote sensing, communication, and navigation [1][20] - It benefits from the increasing density of domestic satellite launches and the acceleration of constellation networking processes [1][20] Group 2: China Satcom (601698) - China Satcom is the only domestic telecom operator with independent satellite communication resources, managing multiple commercial communication satellites and providing a global satellite communication network [2][21] - The company plays a dominant role in aviation satellite internet services, providing high-speed and stable satellite-ground connectivity for flights [2][21] - Its business model encompasses the entire chain from satellite operation to bandwidth leasing and value-added services, benefiting from the growing demand for satellite bandwidth resources [2][21] Group 3: Shanghai Huguang (603131) - Shanghai Huguang is a core player in the private satellite manufacturing sector, with capabilities in the assembly, integration, and testing (AIT) services for the G60 Qianfan constellation project [3][22] - The company has a production capacity of over 100 satellites annually, supporting the deployment of 15,000 satellites for the Qianfan constellation [3][22] - It leverages advanced welding technology and automation to meet precision manufacturing requirements, achieving a 20% improvement in weld strength compared to traditional methods [3][22] Group 4: Chengchang Technology (001270) - Chengchang Technology is one of the few companies providing complete solutions for satellite internet phased array T/R chips, focusing on GaN, GaAs, and silicon-based processes [4][23] - The company’s products are widely used in various scenarios, achieving international advanced performance levels [4][23] - It benefits from the growing demand for satellite communication chips and the domestic replacement of high-end RF chips [4][23] Group 5: Huali Chuantong (300045) - Huali Chuantong is a core supplier of satellite communication terminals, playing a key role in the satellite communication functionality of Huawei's Mate60 series [5][24] - The company’s products cover satellite communication, BeiDou navigation, and simulation testing, with significant advantages in both military and civilian sectors [5][24] - It is well-positioned to benefit from the increasing penetration of consumer-grade satellite communication terminals [5][24] Group 6: Haige Communication (002465) - Haige Communication has a complete technology system in the low-orbit satellite internet sector, providing integrated solutions from chips to terminals and systems [6][25] - The company is deeply involved in major domestic BeiDou navigation and satellite internet projects, with a strong customer base in military satellite communication [6][25] - It is positioned to benefit from the dual growth of military and civilian markets through its collaborative development model [6][25] Group 7: Qian Zhao Optoelectronics (300102) - Qian Zhao Optoelectronics is a leading supplier of gallium arsenide solar cells in the commercial aerospace sector, holding over 50% market share [7][26] - The company has achieved vertical integration from gallium arsenide epitaxial wafers to chips, with products suitable for extreme space environments [7][26] - It benefits from the increasing satellite launch volumes and the growth of the commercial aerospace industry [7][26] Group 8: Aerospace Electronics (600879) - Aerospace Electronics specializes in providing key electronic devices and control systems for satellites and rockets, serving as a core support for the aerospace industry [8][27] - The company has a strong technical reserve in inter-satellite links and high-precision measurement and control [8][27] - It is positioned to benefit from the rapid development of commercial aerospace and the increasing demand for aerospace equipment [8][27] Group 9: Zhenlei Technology (688270) - Zhenlei Technology is a core supplier in the satellite internet chip sector, with a market share exceeding 40% in satellite RF chips and power management chips [9][28] - The company has achieved breakthroughs in high-end chip domestic production, with reliability and performance reaching international standards [9][28] - It is well-positioned to benefit from the demand for satellite internet core components and the domestic replacement of imported products [9][28] Group 10: Guobo Electronics (688375) - Guobo Electronics is a leading company in the satellite phased array T/R component sector, focusing on the development of compound semiconductor devices [10][29] - The company has a complete technical system for the design, manufacturing, and testing of phased array T/R components [10][29] - It is positioned to benefit from the growing demand for high-frequency communication in satellite applications [10][29] Group 11: Zhongke Xingtou (688568) - Zhongke Xingtou is a leader in satellite remote sensing data processing and visualization, providing critical data support for satellite internet applications [11][30] - The company has a full-chain technology for satellite remote sensing data acquisition, processing, analysis, and visualization [11][30] - It is positioned to benefit from the explosion of satellite remote sensing data and the digital transformation of industries [11][30] Group 12: Siwei Tuxin (002405) - Siwei Tuxin is a leader in high-precision mapping and positioning navigation, providing integrated solutions for satellite internet applications in smart driving [12][31] - The company has a leading high-precision map database and core technology for BeiDou navigation [12][31] - It is positioned to benefit from the integration of satellite positioning technology and map data in the automotive sector [12][31] Group 13: Shanghai Huanxun (300762) - Shanghai Huanxun is a core enterprise in the military communication and satellite internet integration sector, serving as the exclusive payload supplier for the G60 Qianfan constellation [13][32] - The company has developed core technologies for 6G communication, enhancing frequency utilization and anti-interference capabilities [13][32] - It is positioned to benefit from the dual growth of military and civilian satellite communication markets [13][32] Group 14: Obit (300053) - Obit specializes in the development and production of core electronic devices for satellites, adapting to the trends of satellite miniaturization and lightweight [14][33] - The company’s products are widely used in various satellites and spacecraft, ensuring stable operation in orbit [14][33] - It is positioned to benefit from the increasing demand for satellite electronic products as commercial satellite launches rise [14][33] Group 15: Aerospace Hanyu (688523) - Aerospace Hanyu focuses on the development and production of structural components and electronic devices for satellites and rockets, serving as a key support for the aerospace industry [15][34] - The company has a complete capability from product design to mass production, meeting high reliability and precision manufacturing requirements [15][34] - It is positioned to benefit from the acceleration of satellite networking and the increasing launch density of rockets [15][34] Group 16: Tongyu Communication (002792) - Tongyu Communication is a leading company in the satellite communication antenna sector, focusing on the development of antennas for satellite and mobile communication [16][35] - The company has a complete capability from antenna design to testing, with products applied in various satellite communication projects [16][35] - It is positioned to benefit from the construction of ground facilities for satellite internet and the upgrading of communication equipment [16][35] Group 17: Tianyin Electromechanical (300342) - Tianyin Electromechanical is a core supplier of satellite attitude control system components, playing a significant role in commercial satellite systems [17][36] - The company’s products ensure stable satellite attitude and energy supply, with applications in various commercial satellites [17][36] - It is positioned to benefit from the increasing demand for attitude control system components as satellite launches rise [17][36]

Group 1 - The stock of Haixia Innovation fell over 18% [1] - Pingtan Development, Rongji Software, and Dongbai Group hit the daily limit down [1] - Qianzhao Optoelectronics, Fulongma, and Ruineng Technology experienced significant declines [1]

Investment Rating - The report provides a positive investment outlook for the commercial aerospace industry, highlighting significant growth opportunities driven by technological advancements and market demand [2]. Core Insights - The commercial aerospace sector is characterized by market-driven activities involving both private and mixed-ownership enterprises, focusing on investment, operation, and risk management across the entire aerospace value chain [2][38]. - Global satellite frequency and orbital resources are becoming increasingly scarce, leading to a surge in satellite constellation construction, with countries competing for these critical resources [2][46]. - The Starlink project by SpaceX is leading the global satellite constellation efforts, while China is rapidly advancing with its own satellite constellation plans [2][47]. - The era of reusable rockets in China is beginning, with several new commercial rocket models expected to launch by the end of 2025, which could accelerate the deployment of low Earth orbit satellite constellations [2][34]. - Investment recommendations include focusing on satellite manufacturing, rocket launching, and space computing, with specific companies highlighted for their potential in these areas [2][34]. Summary by Sections Commercial Aerospace Overview - Commercial aerospace is defined as market-driven activities involving investment, operation, and risk management by enterprises, covering the entire aerospace technology development, manufacturing, launching, and application [2][38]. - The industry is segmented into upstream manufacturing, midstream launching, and downstream application and operation [2][38]. Satellite Industry Overview - The global aerospace industry is projected to reach $415 billion by 2024, with satellite industry revenues estimated at $293 billion [20]. - Satellite services account for 37% of the total satellite industry revenue, while satellite manufacturing and launching services contribute 6.9% and 3.2%, respectively [25]. Satellite Communication Market - The satellite communication market is expected to grow significantly, with China's satellite internet market projected to reach 75.1 billion yuan by 2025 and 151.2 billion yuan by 2030 [34]. - The demand for satellite communication is primarily driven by commercial and government sectors, accounting for 55% and 31% of the market, respectively [28]. Domestic Satellite Constellation Plans - China has ambitious plans for satellite constellations, with three major projects aiming to deploy over 30,000 satellites, including the GW constellation, G60 constellation, and Honghu-3 constellation [79][81]. - As of October 2025, the GW constellation has launched 116 satellites, marking significant progress in China's satellite internet development [84].