Group 1 - Aerospace ETF (159227) has risen by 1.23% as of 10:33 AM on December 4, with a trading volume of 1.53 billion yuan, leading its category. Key holdings such as Aerospace Development and Aerospace Electronics have hit the daily limit, while China Satellite, Hangxin Technology, and Shanghai Hanxun have also seen gains [1] - The latest share count for Aerospace ETF (159227) has reached 1.894 billion shares, with a total asset size of 2.148 billion yuan, both marking new highs since its inception [1] - A conference titled "Winning in the Sky: Progress on Space Data Center Construction" was held in Beijing, where a construction plan for a space data center was announced. The first space data center is expected to be completed by 2030, providing large-scale services for ground and satellite users [1] Group 2 - Guotai Junan Securities emphasizes the need for increased defense investment due to the increasingly complex international environment. It highlights the importance of advanced aircraft, missiles, and efficient equipment like rockets for sustained military operations, suggesting a positive long-term trend for the military industry [1] - The Aerospace ETF (159227) closely tracks the National Aerospace Index, which has a high concentration of core companies in China's military industry, covering new sectors like large aircraft and low-altitude economy. The military industry accounts for 98.2% of the index, with a higher focus on aerospace equipment compared to other indices [2] - The National Aerospace Index emphasizes the high technical barriers in the aerospace sector, which holds a significant value share within the military industry chain [2]

Group 1 - The Aerospace ETF (159227) experienced a slight decline of 0.17% but saw a recovery with a trading volume of 216 million yuan, maintaining its position as the largest aerospace ETF in the market with a total size of 2.126 billion yuan [1] - The successful launch of the Zhuque-3 rocket by Blue Arrow Aerospace marks a significant step towards the reusable era in China's commercial space sector, despite the failure of the first-stage rocket's vertical recovery [1] - According to Dongfang Securities, the progress of satellite networking in China has accelerated this year, with an increase in satellite launch frequency and the rapid rise of private rocket companies entering the listing guidance phase [1] Group 2 - The Aerospace ETF closely tracks the Guozheng Aerospace Index, with a high military industry concentration of 98.2%, covering key sectors such as aerospace equipment, satellite navigation, and new materials [2] - The ETF includes leading companies in the military sector, with a significant weight of 56.5% allocated to commercial aerospace concepts among its top holdings [2] - Major stocks in the ETF include Aerospace Development, China Satellite, and AVIC Aircraft, representing the forefront of the industry [2]

证券代码：300424 证券简称：航新科技 公告编号：2025-120 广州航新航空科技股份有限公司 关于 2025 年第三次临时股东会决议的公告 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. 本次股东会没有出现否决议案的情形。 2. 本次股东会不涉及变更前次股东会决议。 一、会议召开和出席情况 （二）会议出席情况 （一）会议召开情况 1. 会议召开时间： （1）现场会议召开时间：2025 年 12 月 1 日（星期一）下午 14:00。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投 票的具体时间为2025年12月1日交易日上午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投票系统进行网络投票的 具体时间为2025年12月1日9:15-15:00期间任意时间。 2. 现场会议召开地点：广州市经济技术开发区科学城光宝路1号 航新科技大厦二楼会议室。 3. 会议召集人：公司董事会。 4. 会议方式：本次股东会采取现场投票和网络投票相结合的方式。 5. 会议主持人：董事长王磊先生为本次 ...

广州航新航空科技股份有限公司 章 程 （2025 年第三次临时股东会审议通过后生效） 1 | 第一章 | 总则 | 3 | | | --- | --- | --- | --- | | 第二章 | 经营宗旨和范围 | | 4 | | 第三章 | 股份 | 5 | | | 第一节 | 股份发行 | 5 | | | 第二节 | 股份增减和回购 | | 7 | | 第三节 | 股份转让 | 8 | | | 第四章 | 股东和股东会 | | 9 | | 第一节 | 股东的一般规定 | | 9 | | 第二节 | 控股股东和实际控制人 | | 11 | | 第三节 | 股东会的一般规定 | | 12 | | 第四节 | 股东会的召集 | 14 | | | 第五节 | 股东会的提案与通知 | | 15 | | 第六节 | 股东会的召开 | 16 | | | 第七节 | 股东会的表决和决议 | | 19 | | 第五章 | 董事和董事会 | 22 | | | 第一节 | 董事的一般规定 | | 22 | | 第二节 | 董事会 | | 25 | | 第三节 | 独立董事 | 29 | | | 第四节 | 董事会专门委员会 | ...

北 京 上 海 深 圳 杭 州 广 州 昆 明 天 津 成 都 宁 波 福 州 西 安 南 京 南 宁 济 南 重 庆 苏 州 长 沙 太 原 武 汉 贵 阳 乌 鲁 木 齐 郑 州 石 家 庄 合 肥 海 南 青 岛 南 昌 大 连 银 川 拉 孜 香 港 巴 黎 马 德 里 斯 德 哥 尔 摩 纽 约 马 来 西 亚 柬 埔 寨 广州市天河区华夏路 32 号太平洋金融大厦 19 楼 邮编：510620 电话：(+86)(20) 3879 9346、3879 9348 传真：(+86)(20) 3879 9348-200 国浩律师(广州)事务所 关于广州航新航空科技股份有限公司 2025 年第三次临时股东会的法律意见 广州航新航空科技股份有限公司： 根据中国证券监督管理委员会发布的《上市公司股东会规则》(以下简称《股 东会规则》)的要求，国浩律师(广州)事务所(以下简称"本所")接受广州航新 航空科技股份有限公司(以下简称"航新科技")的委托，指派李彩霞、陈伟律师 (以下简称"本所律师")出席航新科技 2025 年第三次临时股东会(以下简称"本 次股东会")，对本次股东会的召集与召开程序、出席会议人员与召集 ...

Core Viewpoint - The aerospace repair industry in China has developed a comprehensive integrated industrial chain that includes regular maintenance of airframes, deep repair of engines, and specialized maintenance of key components, driven by the growth of the aviation transport sector and supported by regulatory reforms aimed at enhancing operational efficiency [1][11]. Industry Overview - The aerospace repair industry involves the inspection, repair, troubleshooting, regular inspection, refurbishment, and modification of various flying devices, ensuring their structural and functional reliability [4]. - The industry has seen significant growth in demand for regular maintenance and line maintenance due to the sustained health of the national economy and the aviation transport sector [1][11]. Industry Policies - Recent policies have been introduced to enhance the domestic aerospace repair capabilities, improve repair quality, and promote the development of the industry, including the establishment of a free trade zone to support the aviation manufacturing and maintenance sectors [6][7]. Industry Chain - The upstream of the aerospace repair industry includes materials and components such as graphite fiber, titanium alloy, aluminum alloy, stainless steel, and electronic components, which are essential for the stable operation of aerospace vehicles in extreme environments [7][8]. - The midstream consists of the repair processes, while the downstream encompasses application fields including civil aviation, military aviation, and aviation logistics [7]. Market Statistics - As of the end of 2024, the CAAC has approved 429 domestic repair units, with 228 capable of airframe repairs, 28 for engine repairs, 13 for propeller repairs, 243 for component repairs, and 168 for other repair projects [1][11]. - The titanium alloy market in China is projected to grow from 28.7 billion yuan in 2020 to 43.2 billion yuan by 2024, with a compound annual growth rate of 10.76% [9][10]. Competitive Landscape - The industry features a dual-track development model with military repair systems and third-party repair enterprises coexisting, particularly in the civil aviation maintenance market where companies like Guangzhou Aircraft Maintenance Engineering Company and independent firms like Hangxin Technology and Hitec High-tech dominate [14][15]. Development Trends - The future of aerospace repair will see deeper integration of artificial intelligence and digital twin technologies for predictive maintenance, enhancing repair accuracy and efficiency [16]. - New repair processes for advanced materials, including low-temperature curing prepregs and laser additive repair, are expected to mature, addressing challenges in repairing composite materials and high-temperature alloys [17]. - A full lifecycle health management system is anticipated to evolve, utilizing IoT technologies for real-time monitoring and data-driven maintenance strategies, optimizing resource allocation and extending equipment lifespan [18].

Core Insights - The low-altitude economy sector experienced a 2.67% increase on November 24, with Zhaobiao Co. leading the gains [1] - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] Low-Altitude Economy Sector Performance - Zhaobiao Co. (301136) saw a closing price of 16.32, with a significant increase of 20.00% and a trading volume of 197,700 shares, amounting to a transaction value of 315 million [1] - Feiwo Technology (301232) closed at 58.15, up 11.46%, with a trading volume of 97,100 shares and a transaction value of 551 million [1] - Aerospace Changfeng (600855) closed at 16.68, up 10.03%, with a trading volume of 469,300 shares and a transaction value of 767 million [1] - Leike Defense (002413) closed at 6.37, up 10.02%, with a trading volume of 1,221,600 shares and a transaction value of 765 million [1] - Aerospace Development (000547) closed at 13.64, up 10.00%, with a trading volume of 5,338,600 shares and a transaction value of 6.81 billion [1] - Huajian Group (600629) closed at 21.67, up 10.00%, with a trading volume of 580,600 shares and a transaction value of 1.24 billion [1] - Tianhe Defense (300397) closed at 15.12, up 9.57%, with a trading volume of 956,800 shares and a transaction value of 1.40 billion [1] - Hangxin Technology (300424) closed at 17.10, up 9.27%, with a trading volume of 268,500 shares and a transaction value of 449 million [1] - Holley Technology (688682) closed at 33.86, up 8.94%, with a trading volume of 36,000 shares and a transaction value of 119 million [1] - Aerospace Nanhu (688552) closed at 35.17, up 8.55%, with a trading volume of 68,500 shares and a transaction value of 237 million [1] Capital Flow Analysis - The low-altitude economy sector saw a net inflow of 2.483 billion in main funds, while retail funds experienced a net outflow of 645 million [2][3] - The main funds' net inflow for Aerospace Development (000547) was 439 million, while retail funds saw a net outflow of 182 million [3] - Leike Defense (002413) had a main fund net inflow of 331 million, with a significant retail fund outflow of 184 million [3] - Huajian Group (600629) recorded a main fund net inflow of 291 million, while retail funds had a net outflow of 126 million [3] - Aerospace Changfeng (600855) experienced a main fund net inflow of 223 million, with retail funds seeing a net outflow of 105 million [3]

Core Points - The company, Guangzhou Hangxin Aviation Technology Co., Ltd., announced the approval of a financial assistance proposal during its sixth board meeting on November 21, 2025 [1] - The financial assistance will be provided by Chuzhou Chuangke Future Enterprise Management Partnership (Limited Partnership) in the form of cash, amounting to a total of no more than 20 million yuan [1] - The financial assistance is interest-free and will be available for a period of one year from the signing of the financial assistance agreement [1]

Group 1 - The core point of the article is that Hangxin Technology (SZ 300424) held its 12th meeting of the 6th board of directors on November 21, 2025, to review documents including a proposal for financial assistance [1] - For the year 2024, Hangxin Technology's revenue composition is heavily weighted towards aviation manufacturing and services, which account for 99.84% of total revenue, while other businesses contribute only 0.16% [1] - As of the report, Hangxin Technology has a market capitalization of 3.8 billion yuan [1]

证券代码：300424 证券简称：航新科技 公告编号：2025-119 广州航新航空科技股份有限公司 关于接受财务资助的公告 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。 一、 交易情况概述 广州航新航空科技股份有限公司（以下简称"公司"、"航新科 技"）于 2025 年 11 月 21 日召开第六届董事会第十二次会议，审议 通过了《关于接受财务资助的议案》。 为支持公司业务开展和经营周转，衢州创科未来企业管理合伙企 业（有限合伙）（以下简称"衢州创科"）拟以现金方式向公司提供 总额不超过 2,000 万元的无息财务资助，期限自《财务资助协议》签 订之日起一年。公司就本次接受财务资助无需提供保证、抵押、质押 等任何形式的担保。 因公司目前正在筹划控制权变更事项，该事项如若最终实施完成， 衢州创科将成为公司控股股东，基于审慎性原则，本次交易按关联交 易提交审议。上述议案在提交公司董事会审议前，已经公司独立董事 专门会议审议，全体独立董事一致同意将该项议案提交董事会审议。 根据《创业板股票上市规则》等相关法律法规及《公司章程》的 要求，上述议案属于公司董事会审批 ...