目 录 | 一、审计报告……………………………………………………… 第 | 1—6 页 | | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | 页 | | （一）合并资产负债表…………………………………………… 第 | 7 页 | | （二）母公司资产负债表………………………………………… 第 | 8 页 | | （三）合并利润表………………………………………………… 第 | 9 页 | | （四）母公司利润表………………………………………………第 | 10 页 | | （五）合并现金流量表……………………………………………第 | 11 页 | | （六）母公司现金流量表…………………………………………第 | 12 页 | | （七）合并所有者权益变动表……………………………………第 | 13 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 页 | | 三、财务报表附注……………………………………………… 第 15—110 | 页 | | Fil. key 17 | | | | --- | --- | --- | | | . ...

Core Insights - The military electronics sector experienced a 0.62% increase on October 28, with Aerospace Development leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Aerospace Development (000547) saw a closing price of 8.84, with a significant increase of 9.95% and a trading volume of 1.61 million shares [1] - Other notable gainers included *ST WanFang (000638) with a 4.98% increase, and Ruichuang Micro-Nano (688002) with a 4.20% increase [1] - Conversely, Huafeng Technology (688629) experienced a decline of 9.17%, with a trading volume of 316,400 shares and a transaction amount of 2.607 billion [2] Capital Flow - The military electronics sector saw a net outflow of 98.6033 million from institutional investors, while retail investors contributed a net inflow of 343 million [2] - The capital flow data indicates that Aerospace Development had a net inflow of 5.05 billion from institutional investors, while it faced a net outflow of 2.77 billion from speculative funds [3] - Other companies like Zhonghang Chengfei (302132) and Taimeng Technology (600590) also showed mixed capital flows, with significant outflows from speculative and retail investors [3]

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。 西安天和防务技术股份有限公司（以下简称"公司"）于近日接到公司控股股 东、实际控制人贺增林先生的通知，获悉其将所持有的公司部分股份办理了质押回 购延期业务，现将具体内容公告如下： | 股东 名称 | 是否为控 股股东或 第一大股 | 本次回购 延期股数 | 占其 所持 股份 | 占公 司总 股本 | 是否 为限 | 是否 为补 充质 | 质押 开始 | 延期后 质押到 | 质权人 | 质押 用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 东及其一 | （股） | 比例 | 比例 | 售股 | 押 | 日期 | 期日 | | | | | 致行动人 | | （%） | （%） | | | | | | | | 贺增林 | 是 | 11,769,900 4,630,100 | 9.06 3.56 | 2.27 0.89 | 否 否 | 否 否 | 2024- 2024- 2024- | 2026- 2026- 202 ...

Group 1 - The aerospace industry index (CN5082) increased by 0.41% as of October 21, 2025, with notable stock performances from companies like Aerospace Morning Light (600501) up 3.50% and Aerospace New Technology (300424) up 3.40% [1] - On October 17, the sixth batch of satellites for the Qianfan constellation was successfully launched using the Long March 6A rocket, marking a total of 108 satellites launched for the network [1] Group 2 - Oriental Securities forecasts an acceleration in satellite networking progress, with private rockets expected to support commercial space launches [2] - The military industry sector has stabilized in stock prices, with upcoming equipment construction plans expected to enhance both domestic and international demand [2] - The Aerospace ETF (159227) closely tracks the aerospace index and has a high concentration of military industry stocks, covering key sectors such as aerospace equipment, satellite navigation, and new materials [2]

Core Viewpoint - Tianhe Defense experienced a stock price increase of 1.61% on October 20, with a trading volume of 95.61 million yuan, indicating investor interest despite recent financial challenges [1]. Financing Summary - On October 20, Tianhe Defense had a financing buy-in amount of 9.19 million yuan and a financing repayment of 10.75 million yuan, resulting in a net financing outflow of 1.56 million yuan [1]. - The total financing and margin trading balance reached 427 million yuan, accounting for 6.90% of the circulating market value, which is above the 70th percentile of the past year, indicating a high level of financing activity [1]. - The company had a margin trading repayment of 100 shares and a margin sell of 200 shares, with a sell amount of 2,392 yuan, while the margin balance was 100,500 yuan, below the 20th percentile of the past year, indicating low short-selling activity [1]. Business Overview - Tianhe Defense, established on May 8, 2004, and listed on September 10, 2014, specializes in the research, production, and sales of reconnaissance, command, and control systems based on continuous wave radar and optoelectronic detection technologies [2]. - The company's revenue composition includes 88.06% from electronic materials and components manufacturing, 12.17% from military equipment manufacturing, and 4.26% from technology development and data services [2]. - As of October 10, the number of shareholders was 57,400, a slight decrease of 0.02%, while the average circulating shares per person increased by 0.02% to 7,064 shares [2]. Financial Performance - For the first half of 2025, Tianhe Defense reported a revenue of 176 million yuan, a year-on-year decrease of 14.72%, and a net profit attributable to shareholders of -57.78 million yuan, reflecting a significant decline of 109.06% [2]. Dividend and Shareholding Information - Since its A-share listing, Tianhe Defense has distributed a total of 33.12 million yuan in dividends, with no dividends paid in the last three years [3]. - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 1.2636 million shares, a decrease of 5.0994 million shares from the previous period [3]. - The General Aviation ETF entered the top ten circulating shareholders with a holding of 1.0526 million shares, while the Southern Military Reform Flexible Allocation Mixed A exited the list [3].

证券代码：300397 证券简称：天和防务 公告编号：2025-064 西安天和防务技术股份有限公司 关于为控股子公司提供反担保的进展公告 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。 近日，公司控股子公司成都通量科技有限公司（以下简称"成都通量"） 与成都农村商业银行股份有限公司合作支行（以下简称"成都农商银行"）签 订了《流动资金借款合同》，借款金额为人民币400万元，借款期限为12个月。 成都通量与成都小企业融资担保有限责任公司（以下简称"成都小企担保"） 1 签订了《委托担保协议》，成都小企担保对上述借款提供保证担保。公司与成 都小企担保签订了《反担保保证合同（适用机构）》，约定公司为成都通量的 上述人民币400万元流动资金借款提供相应的反担保，反担保期限为3年。公司 与成都通量的其他自然人股东伍晶、赵晨曦、裘华英签订了《反担保保证合同 （自然人反担保）》，成都通量的其他自然人股东伍晶、赵晨曦、裘华英按照 其对成都通量的出资比例为公司承担的担保责任提供反担保。 根据《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 ...

证券日报网讯天和防务10月10日在互动平台回答投资者提问时表示，当前公司"秦膜"系列材料主要面向 面板级芯片封装和绝缘导热型覆铜板等领域。在射频芯片领域，公司主要以子公司成都通量为业务平 台，目前成都通量产品涵盖了面向基站高可靠性射频收/发前端芯片/模组、无线通信类射频收/发芯片/ 模组、雷达感知芯片/模组、装备定制化产品等四大类，具体包括低噪声放大器、驱动放大器、功率放 大器、开关、开关低噪放、射频前端模组、雷达感知芯片和模组等产品。 （文章来源：证券日报） ...

证券代码：300397 证券简称：天和防务 公告编号：2025-063 西安天和防务技术股份有限公司 关于为控股子公司提供反担保的进展公告 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、担保情况概述 西安天和防务技术股份有限公司（以下简称"公司"）于2025年4月23日召 开了第五届董事会第十三次会议、2025年6月18日召开了2024年年度股东大会， 审议通过了《关于2025年度向金融机构申请综合授信额度及对外担保额度预计 的议案》，同意公司及子公司在2025年度申请（包括但不限于银行、信托、融 资租赁、保理等金融机构）信贷业务及日常经营需要时提供对外担保的担保总 额为人民币50,000万元。其中，为资产负债率超过70%的子公司担保额度不超过 人民币13,000万元，为资产负债率70%以下的子公司担保额度不超过人民币 35,000万元，为公司合并报表范围内其他公司提供担保的第三方担保公司担保 额度不超过人民币2,000万元。同时，公司为控股子公司提供担保的，该子公司 的其他股东原则上按出资比例提供同等担保或者反担保。对外担保额度有效期 自该议案经202 ...

Core Points - Tianhe Defense (300397) announced the election of He Zenglin as the chairman during the first meeting of the sixth board of directors [1] Company Summary - Tianhe Defense held its sixth board of directors' first meeting on September 26, where He Zenglin was elected as chairman [1]

每经头条（nbdtoutiao）——5年增长33倍，这类新险种卖爆了，身边很多人都需要，30多家险企蜂拥而 入⋯⋯ （记者 张喜威） 截至发稿，天和防务市值为62亿元。 每经AI快讯，天和防务（SZ 300397，收盘价：12元）9月26日晚间发布公告称，公司第六届第一次董事 会会议于2025年9月26日以现场与通讯相结合的方式召开。会议审议了《关于选举公司第六届董事会董 事长的议案》等文件。 ...