Core Viewpoint - The company, Jiuzhiyang, emphasizes its focus on infrared thermal imaging, laser sensors, optical components, and other core business areas, while clarifying that it does not directly compete with Gaode Infrared due to differences in product direction and market positioning [1] Group 1: Company Strategy - Jiuzhiyang maintains a market-oriented operation, balancing efficiency and effectiveness as a state-owned enterprise [1] - The company aims to enhance its production capabilities and create high-quality differentiated products to improve its market position and competitiveness [1] Group 2: Market Positioning - Although both Jiuzhiyang and Gaode Infrared operate in the infrared sector, they have distinct competitive advantages and target different market segments [1] - Jiuzhiyang focuses on optimizing service processes to continuously enhance its competitiveness in the market [1]

Core Viewpoint - The company is actively responding to the national strategy of becoming a space power by focusing on the development and research of core components and devices for inter-satellite and ground-satellite communication [1] Group 1: Company Developments - The company has made significant advancements in the commercial space and satellite internet sectors [1] - The company's star tracking device features full autonomy, all-weather capability, miniaturization, high measurement accuracy, and error stability over time [1] - The star tracking device is currently a primary attitude measurement instrument used on satellites and other spacecraft, with applications across various navigation platforms [1] Group 2: Industry Context - The products and related technologies developed by the company provide essential technical support and assurance for the in-orbit operation of satellites [1]

Group 1 - The company has made progress in the field of inter-satellite laser communication, which is a crucial component of space computing [2] - The company has signed sales contracts for core components related to inter-satellite laser communication, specifically for fiber amplifiers and tracking cameras [2] - In competitive evaluations among numerous suppliers, the company's fiber amplifiers ranked among the top in various performance metrics [2]

Core Viewpoint - The commercial aerospace sector continues to strengthen, with multiple companies experiencing significant stock performance increases [1] Group 1: Company Performance - Zhongchao Holdings, Hualing Cable, and Changcheng Electric have achieved consecutive stock gains, with Zhongchao Holdings and Hualing Cable recording three consecutive increases [1] - Longcheng Electric has seen two consecutive stock gains [1] - Companies such as Leike Defense, Taigang Stainless Steel, Fushun Special Steel, and Tongyu Communication have reached their daily price limits [1] - Keda Guochuang, Zhenyou Technology, Kelon New Materials, and Ruihua Tai have all increased by over 10% [1] - Other companies like Jiuzhiyang, Woge Optoelectronics, Youji Co., Laisai Laser, and Kanda New Materials have also shown upward trends [1]

Group 1 - The other electronic sector increased by 5.14% compared to the previous trading day, with Ruikeda leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3924.08, up 0.54%, while the Shenzhen Component Index closed at 13329.99, up 1.39% [1] - Ruikeda's stock price rose by 20.00% to 86.77, with a trading volume of 253,100 shares and a transaction value of 2.106 billion yuan [1] Group 2 - Other notable stocks in the electronic sector included Xiangnan Chip Creation, which rose by 15.25% to 143.36, with a trading volume of 802,300 shares and a transaction value of 10.870 billion yuan [1] - The total net inflow of main funds in the other electronic sector was 1.137 billion yuan, while retail funds experienced a net outflow of 519 million yuan [2] - The stock of ST Xinya saw a slight decline of 0.33% to 6.02, with a trading volume of 105,200 shares and a transaction value of 63.3196 million yuan [2]

Core Viewpoint - The China Shipbuilding sector experienced a decline of 2.42% as of the market close on December 4, with major companies like China Shipbuilding Defense, Jiuzhiyang, and China Marine Defense leading the losses [1] Market Performance - The top-performing concept sectors included Reducers (+1.17%), National Big Fund Holdings (+0.99%), and Tonghuashun New Quality 50 (+0.98%), while the China Shipbuilding sector was among the worst performers, down 2.42% [1] - Other sectors that saw declines included Hainan Free Trade Zone (-3.35%), Dairy Industry (-3.13%), and Pre-made Dishes (-2.36%) [1] Capital Flow - The China Shipbuilding sector saw a net outflow of 537 million yuan, with 10 stocks experiencing net outflows, and 8 stocks seeing outflows exceeding 10 million yuan [1] - China Shipbuilding led the outflows with a net withdrawal of 210 million yuan, followed by China Shipbuilding Defense (-83 million yuan) and China Marine Defense (-75 million yuan) [1] Individual Stock Performance - Key stocks in the China Shipbuilding sector and their respective performances included: - China Shipbuilding (600150): -0.98% with a turnover rate of 0.66% and a net outflow of 210 million yuan [1] - China Shipbuilding Defense (600685): -4.99% with a turnover rate of 5.12% and a net outflow of 83 million yuan [1] - China Marine Defense (600764): -3.61% with a turnover rate of 2.11% and a net outflow of 75 million yuan [1] - China Power (600482): -1.62% with a turnover rate of 0.78% and a net outflow of 65 million yuan [1]

（文章来源：证券日报） 证券日报网讯 12月3日，久之洋在互动平台回答投资者提问时表示，截至2025年11月28日收盘，公司股 东人数为33838户。 ...

Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index closing at 3897.71 points, slightly below the five-day moving average, indicating a minor decline of 0.42% [1] Group 1: Market Overview - The total trading volume of A-shares reached 16,072.67 billion yuan today [1] - A total of 244 A-shares have surpassed the five-day moving average, with notable stocks showing significant deviation rates [1] Group 2: Stocks with High Deviation Rates - The stocks with the highest deviation rates include: - Zhaobiao Co., Ltd. with a deviation rate of 15.44%, closing at 19.92 yuan after a 20.00% increase [2] - Fujian Expressway with a deviation rate of 8.31%, closing at 4.25 yuan after a 10.10% increase [2] - Haixiang New Materials with a deviation rate of 7.17%, closing at 25.14 yuan after a 10.02% increase [2] - Other notable stocks with high deviation rates include: - Guofeng New Materials (7.00%), Huaxia Happiness (6.64%), and Luoniushan (6.44%) [2]

Group 1 - The China Shipbuilding sector experienced a decline of 0.68%, ranking among the top losers in the concept sector, with notable declines in stocks such as China Shipbuilding Defense, China Shipbuilding Hanguang, and Jiuzhiyang [1] - Among the stocks in the China Shipbuilding sector, only two saw price increases, with China Shipbuilding Special Gas rising by 1.14% and Kunshan Intelligent increasing by 0.51% [1] Group 2 - The China Shipbuilding sector faced a net outflow of 305 million yuan from major funds today, with nine stocks experiencing net outflows, and seven stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was China Shipbuilding Defense, which saw a net outflow of 137.16 million yuan, followed by China Shipbuilding and ST Emergency with net outflows of 42.19 million yuan and 30.49 million yuan, respectively [2]

Core Viewpoint - The stock of Jiuzhiyang has shown significant volatility, with a year-to-date increase of 53.52%, but a recent decline of 11.13% over the last five trading days, indicating potential market fluctuations and investor sentiment changes [1] Company Overview - Jiuzhiyang, established on April 27, 2001, and listed on June 2, 2016, is based in Wuhan, Hubei Province, specializing in the research, production, and sales of infrared thermal imaging cameras and laser rangefinders [1] - The company's main revenue sources are infrared thermal imaging cameras (55.88%), optical systems (28.62%), laser measurement and lighting products (14.81%), and other products (0.69%) [1] Financial Performance - For the period from January to September 2025, Jiuzhiyang reported a revenue of 357 million yuan, reflecting a year-on-year growth of 29.12%, and a net profit attributable to shareholders of 21.75 million yuan, up 7.93% year-on-year [2] - Cumulatively, since its A-share listing, Jiuzhiyang has distributed a total of 217 million yuan in dividends, with 98.28 million yuan distributed over the past three years [3] Shareholder Information - As of November 20, 2025, Jiuzhiyang had 18,400 shareholders, an increase of 20.92% from the previous period, with an average of 9,764 circulating shares per shareholder, down 17.30% [2] - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 1.1399 million shares, an increase of 586,900 shares from the previous period [3] Market Activity - On December 1, Jiuzhiyang's stock price rose by 2.03% to 51.83 yuan per share, with a trading volume of 320 million yuan and a turnover rate of 3.49%, resulting in a total market capitalization of 9.329 billion yuan [1] - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on November 24, where it recorded a net buy of -62.1889 million yuan [1]