Core Viewpoint - The controlling shareholder of Hangxin Technology is planning to transfer the company's control, which may lead to a change in the actual controller after three years of poor performance in both revenue and stock price [1][4]. Group 1: Company Performance - Hangxin Technology's revenue and net profit have not improved since the acquisition by Guangzhou Hengmao in September 2022, with net profit declining further [4][9]. - The company primarily engages in the research and development of airborne equipment, with maintenance services accounting for about 80% of its revenue [4]. - The company's total revenue in 2020 was 1.224 billion yuan, a decrease of 18.13% year-on-year, resulting in a net loss of 327 million yuan [5][9]. - In 2022, the company's non-net profit was only over 10 million yuan, dropping to less than 5 million yuan in 2023, and reporting a loss of 117 million yuan in 2024 [9][10]. Group 2: Financial Indicators - The total revenue for Hangxin Technology in 2024 was 1.703 billion yuan, with a year-on-year growth of 7.87% [10]. - The company's net profit for 2024 was -95.38 million yuan, indicating a significant decline compared to previous years [10]. - The non-net profit for 2024 was -117.3 million yuan, showing a drastic decrease from the previous year's figures [10]. Group 3: Stock Performance - Hangxin Technology's stock has not seen significant growth over the past three years, with a recent surge of nearly 11% on October 27, 2025, before the trading suspension [4][10]. - The company's latest market capitalization is 4.95 billion yuan [10].

Core Viewpoint - The company, Hangxin Technology (300424.SZ), is undergoing a potential change in control as its major shareholder, Guangzhou Hengmao Venture Capital Partnership (Limited Partnership), is planning to alter the company's control structure [1] Summary by Sections - **Control Change** - The major shareholder is in the process of planning a change in the company's control, which may result in a change of the controlling shareholder and actual controller [1] - **Stock and Bond Suspension** - The company has applied to the Shenzhen Stock Exchange for a suspension of its stock (Hangxin Technology, stock code: 300424) and convertible bonds (Hangxin Convertible Bonds, bond code: 123061) starting from October 28, 2025 [1] - The expected duration of the suspension is no more than two trading days [1] - During the suspension period, the convertible bonds will also halt their conversion into shares [1]

Core Viewpoint - The company is undergoing a potential change in control, which may lead to a shift in its major shareholder and actual controller, prompting a temporary suspension of its stock and convertible bonds trading [1]. Company Overview - Hangxin Technology specializes in comprehensive operational support services for airborne equipment, covering areas such as equipment development, maintenance, and services [1]. - The company has made significant progress in the development and production of domestic aircraft components, benefiting from China's large aircraft strategy and the growth of the civil aviation industry [1]. Financial Performance - In the first half of the year, Hangxin Technology achieved a revenue of 937 million yuan, representing a year-on-year increase of 0.95% [1]. - The net profit attributable to shareholders was 16.67 million yuan, up 3.51% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 16.02 million yuan, showing a substantial year-on-year growth of 39.53% [1]. Shareholder Changes - On October 17, the former major shareholder, Liu Shaojun, announced plans to divest all remaining 2.4013 million shares, which constitutes 0.98% of the total share capital [2]. - Since 2019, Liu Shaojun has reduced her holdings multiple times, totaling 12.4081 million shares, with a divestment amount of approximately 197 million yuan [2].

Core Points - The company, Hangxin Technology (300424.SZ), announced a suspension of trading due to a potential change in control, as the controlling shareholder, Guangzhou Hengmao, is planning to transfer its shares [1][2] - The suspension will take effect from October 28, 2025, and is expected to last no more than two trading days [1] - During the suspension, the company's convertible bonds will also be halted from conversion [1] Summary by Sections Control Change Announcement - Hangxin Technology received a notice from its controlling shareholder, Guangzhou Hengmao, regarding the planned transfer of control [1] - This change may lead to a shift in the company's controlling shareholder and actual controller [1] Trading Suspension - The company applied for a trading suspension to ensure fair information disclosure and prevent abnormal stock price fluctuations [1] - The suspension is in accordance with relevant regulations from the Shenzhen Stock Exchange [1] Information Disclosure - The company will fulfill its information disclosure obligations according to legal requirements during the suspension period [2] - Relevant announcements will be made promptly once the matters are determined, and the company will apply for resumption of trading [2]

证券代码：300424 证券简称：航新科技 公告编号：2025-097 债券代码：123061 债券简称：航新转债 广州航新航空科技股份有限公司 关于筹划控制权变更事项的停牌公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示: 1、广州航新航空科技股份有限公司（以下简称"公司"或"航 新科技")控股股东广州恒贸创业投资合伙企业（有限合伙）正在筹 划公司控制权变更相关事宜，该事项可能导致公司控股股东、实际控 制人发生变更。经公司向深圳证券交易所申请，公司股票（股票简称： 航新科技，股票代码：300424）及可转换公司债券（债券简称：航新 转债，债券代码：123061）自2025年10月28日（星期二）开市起停牌， 预计停牌时间不超过2个交易日。停牌期间，公司可转换公司债券"航 新转债"将暂停转股。 1 变更。目前，各方主体正在就具体交易方案、协议等相关事项进行论 证和磋商，具体情况以各方签订的相关协议为准。 鉴于上述事项尚存在重大不确定性，为保证公平信息披露，避免 造成公司股价异常波动，维护广大投资者利益，根据《深圳证券交易 所股票上市规则》《深圳证 ...

每经头条（nbdtoutiao）——拉1人入伙返1500元，投10万元成亿万富翁？这家公司大肆宣传将房产海外 代币化，有交了钱的人称是"牙签撬动地球" （记者 王晓波） 截至发稿，航新科技市值为50亿元。 每经AI快讯，航新科技（SZ 300424，收盘价：20.17元）10月27日晚间发布公告称，广州航新航空科技 股份有限公司控股股东广州恒贸创业投资合伙企业（有限合伙）正在筹划公司控制权变更相关事宜，该 事项可能导致公司控股股东、实际控制人发生变更。公司于2025年10月27日收到控股股东广州恒贸创业 投资合伙企业（有限合伙）出具的《关于拟转让航新科技股份控制权的告知函》，获悉公司控股股东广 州恒贸正在筹划公司控制权变更事项，该事项可能导致公司控股股东、实际控制人发生变更。目前，各 方主体正在就具体交易方案、协议等相关事项进行论证和磋商。鉴于相关事项尚存在重大不确定性，为 保证公平信息披露，避免造成公司股价异常波动，维护广大投资者利益，经公司向深圳证券交易所申 请，公司股票（股票简称：航新科技，股票代码：300424）及可转换公司债券自2025年10月28日（星期 二）开市起停牌，预计停牌时间不超过2个交易 ...

Core Insights - The aviation equipment sector experienced a rise of 0.68% on October 27, with Hangxin Technology leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Hangxin Technology (300424) closed at 20.17, with a significant increase of 10.76% and a trading volume of 430,600 shares, amounting to 827 million yuan [1] - Zongheng Co., Ltd. (688070) saw a rise of 7.49%, closing at 53.10, with a trading volume of 27,200 shares and a turnover of 142 million yuan [1] - Western Superconductor (688122) increased by 5.89%, closing at 76.80, with a trading volume of 363,200 shares and a turnover of 2.767 billion yuan [1] - Other notable performers include Yuelida (300696) up 4.34%, Hitec High-tech (002023) up 3.43%, and Parker New Materials (605123) up 3.19% [1] Fund Flow Analysis - The aviation equipment sector saw a net outflow of 90.2583 million yuan from institutional investors, while retail investors contributed a net inflow of 34.4578 million yuan [2] - The overall net inflow from speculative funds was 55.8005 million yuan [2] Individual Stock Fund Flow - Filihua (300395) had a net inflow of 454 million yuan from institutional investors, but a net outflow of 12.8976 million yuan from speculative funds [3] - Western Superconductor (688122) experienced a net inflow of 201 million yuan from institutional investors, with a net outflow of 83.8497 million yuan from speculative funds [3] - Hangxin Technology (300424) had a net inflow of 70.1027 million yuan from institutional investors, but faced a net outflow from both speculative and retail investors [3]

Core Insights - The aviation equipment sector experienced a rise of 1.85% on October 24, with Tongyi Aerospace leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance Summary - Tongyi Aerospace (920642) closed at 18.10, with a significant increase of 21.97% and a trading volume of 291,500 shares [1] - Shengnan Technology (920006) saw a rise of 4.65%, closing at 29.27 with a trading volume of 59,300 shares [1] - Filihua (300395) increased by 4.14%, closing at 81.54 with a trading volume of 436,600 shares [1] - Other notable performers include: - Paike New Materials (605123) up 3.97% to 72.75 [1] - Morningstar Aviation (300581) up 3.81% to 16.62 [1] Capital Flow Analysis - The aviation equipment sector saw a net inflow of 737 million yuan from institutional investors, while retail investors experienced a net outflow of 765 million yuan [2] - The top stocks by net inflow from institutional investors include: - Filihua (300395) with a net inflow of 48.7 million yuan [3] - Aviation Power (600893) with a net inflow of 61.02 million yuan [3] - Morningstar Aviation (300581) with a net inflow of 42.65 million yuan [3]

Market Overview - The aviation equipment sector rose by 0.91% on October 21, with Filihua leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Filihua (300395) saw a significant increase of 14.17%, closing at 80.50 with a trading volume of 426,500 shares [1] - Other notable performers included Hangxin Technology (300424) with a 6.02% increase, and Hangyu Technology (688239) with a 4.42% increase [1] - The table below summarizes the performance of key stocks in the aviation equipment sector: | Code | Name | Closing Price | Change (%) | Volume (thousand) | |--------|--------------|---------------|------------|-------------------| | 300395 | Filihua | 80.50 | 14.17 | 426.5 | | 300424 | Hangxin Tech | 17.79 | 6.02 | 248.6 | | 688239 | Hangyu Tech | 43.67 | 4.42 | 48.3 | | 920642 | Tongyi Aerospace | 14.97 | 2.46 | 20.1 | | 002297 | Boyun New Material | 9.00 | 2.39 | 471.7 | | 603261 | *ST Lihang | 21.10 | 2.23 | 12.5 | | 300034 | Steel Research | 16.38 | 2.12 | 120.9 | | 920006 | Shengcao Technology | 27.85 | 1.94 | 11.3 | | 688287 | *ST Guandian | 4.78 | 1.92 | 14.9 | | 002625 | Guangqi Technology | 46.78 | 1.92 | 189.7 | [1] Capital Flow - The aviation equipment sector experienced a net inflow of 601 million yuan from institutional investors, while retail investors saw a net outflow of 454 million yuan [2] - The following table outlines the capital flow for key stocks: | Code | Name | Institutional Net Inflow (yuan) | Institutional Net Ratio | Retail Net Inflow (yuan) | Retail Net Ratio | |--------|--------------|----------------------------------|-------------------------|--------------------------|------------------| | 300395 | Filihua | 439 million | 13.32% | -83.56 million | -10.78% | | 688122 | Western Superconductor | 92.06 million | 7.09% | -36.26 million | -4.30% | | 300424 | Hangxin Tech | 54.02 million | 12.49% | -798,450 | -10.64% | | 600893 | Aero Engine | 47.64 million | 7.85% | 390,730 | -8.50% | | 688237 | Superlative Aerospace | 28.34 million | 18.13% | 530,500 | -21.53% | [3]

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]