Core Viewpoint - The aviation equipment sector has experienced a short-term surge, with notable stock increases among several companies, indicating potential investment opportunities in this industry [1] Group 1: Company Performance - Morningstar Aviation (晨曦航空, 300581) saw its stock price rise by over 10% [1] - Other companies in the sector, including Zhong Wuyun (中无人机), Zongheng Co. (纵横股份), Aero Engine Corporation of China (航发科技, 600391), Guolian Aviation (广联航空, 300900), and Shengnan Technology (晟楠科技), also experienced stock price increases [1] Group 2: Market Trends - The movement in the aviation equipment sector suggests a growing interest from investors, as indicated by the surge in stock prices [1] - The exposure of dark pool fund flows may provide insights into potential accumulation signals from major investors [1]

西安晨曦航空科技股份有限公司 关于全资子公司注销完成的公告 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。 证券代码：300581 证券简称：晨曦航空 公告编号：2025-040 二、注销全资子公司的影响 注销完成后，湖南科泰威将不再纳入公司合并报表范围。本次注销全资子公 司事项不会对公司整体业务发展和财务状况产生不利影响，不存在损害公司及全 体股东特别是中小股东利益的情形。 三、备查文件 1、《登记通知书》。 特此公告。 西安晨曦航空科技股份有限公司 董事会 2025 年 6 月 11 日 一、注销情况概述 西安晨曦航空科技股份有限公司（以下简称"公司"）于 2024 年 8 月 26 日 召开第四届董事会第二十一次会议审议通过了《关于注销全资子公司的议案》， 公司拟注销全资子公司湖南科泰威航空设备制造有限公司（以下简称"湖南科泰 威"），具体详见公司于 2024 年 8 月 28 日在巨潮资讯网（http://www.cninfo.com.cn） 披露的《西安晨曦航空科技股份有限公司关于注销全资子公司的公告》（公告编 号：2024-050）。 近日，公司收 ...

北京德恒律师事务所 关于西安晨曦航空科技股份有限公司 2024 年年度股东大会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于西安晨曦航空科技股份有限公司 2024 年年度股东大会的 法律意见 德恒 01G20220064-10 号 致：西安晨曦航空科技股份有限公司（以下简称"公司"） 北京德恒律师事务所（以下简称"本所"）接受公司委托，指派本所律师 出席了公司于2025年5月26日在西安市高新区锦业路69号创业园C区11号公司会 议室召开的2024年年度股东大会（以下简称"本次股东大会"或"本次会 议"）。 本所律师根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）、《上市公司股东会规则》 （以下简称《股东会规则》）等现行有效的法律、法规和规范性文件以及《西 安晨曦航空科技股份有限公司章程》（以下简称"公司章程"）的有关规定和 本法律意见出具日前已经发生或存在的事实发表法律意见。 为出具本法律意见，本所及经办律师依据《证券法》《律 ...

证券代码：300581 证券简称：晨曦航空 公告编号：2025-039 西安晨曦航空科技股份有限公司 2024 年年度股东大会决议公告 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、召开会议的基本情况 （一）召开会议的基本情况 1、会议召开时间： 现场会议召开时间为：2025 年 5 月 26 日（星期一）下午 15：00 网络投票时间为：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 5 月 26 日（星期一）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投票的具体时间为 2025 年 5 月 26 日（星 期一）上午 9：15 至下午 15：00 期间的任意时间。 2、会议召开地点：西安市高新区锦业路 69 号创业园 C 区 11 号公司会议室 5、会议主持人：董事长吴星宇先生 6、会议召开的合法、合规性：公司董事会召集本次股东大会符合《中华人 民共和国公司法》《中华人民共和国证券法》《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 ...

股票代码：300581 股票简称：晨曦航空 公告编号：2025-037 西安晨曦航空科技股份有限公司 关于召开 2024 年年度股东大会的提示性公告 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。 在《中国证券报》《上海证券报》《证券时报》《证券日报》《 》及 巨潮资讯网（http://www.cninfo.com.cn）刊登了《西安晨曦航空科技股份有限公 司关于召开 2024 年年度股东大会的通知》的公告，本次股东大会将通过深圳证 券交易所交易系统和互联网投票系统向股东提供网络形式的投票平台，现公告公 司关于召开 2024 年年度股东大会通知的提示性公告。 一、召开会议的基本情况 年 4 月 27 日审议通过了《关于提请召开公司 2024 年年度股东大会的议案》，决 定于 2025 年 5 月 26 日（星期一）召开公司 2024 年年度股东大会。 民共和国公司法》《中华人民共和国证券法》《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》等有关法律、法规、规范性文件和《西安晨曦航空科技股份有限公 ...

股票代码：300581 股票简称：晨曦航空 公告编号：2025-037 西安晨曦航空科技股份有限公司 关于召开 2024 年年度股东大会的提示性公告 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。 2025 年 4 月 29 日，西安晨曦航空科技股份有限公司（以下简称"公司"） 在《中国证券报》《上海证券报》《证券时报》《证券日报》《经济参考报》及 巨潮资讯网（http://www.cninfo.com.cn）刊登了《西安晨曦航空科技股份有限公 司关于召开 2024 年年度股东大会的通知》的公告，本次股东大会将通过深圳证 券交易所交易系统和互联网投票系统向股东提供网络形式的投票平台，现公告公 司关于召开 2024 年年度股东大会通知的提示性公告。 一、召开会议的基本情况 1、股东大会届次：2024 年年度股东大会 2、会议召集人：公司第五届董事会。公司第五届董事会第四次会议于 2025 年 4 月 27 日审议通过了《关于提请召开公司 2024 年年度股东大会的议案》，决 定于 2025 年 5 月 26 日（星期一）召开公司 2024 年年度股东大会。 5、 ...

Financial Performance - In 2024, the company's operating cash flow was -48.11 million, not -120 million as previously stated [3] - Revenue in 2024 decreased by 22.3%, while sales expenses increased by 15.7% [3] - The company's net profit for 2024 was a loss of 80 million [3] - Government subsidies accounted for 65% of net profit in 2024, totaling 1.6853 million [5] Inventory and Assets - Inventory increased by 31.2% year-on-year, with a turnover rate dropping to 1.8 times [3] - The asset-liability ratio rose to 58.3%, with interest-bearing liabilities at 41.7% [3] - Fixed asset investment increased by 40% year-on-year, but capacity utilization was only 65% [5] Research and Development - R&D expenses accounted for 28.5% of revenue in 2024, with a capitalization rate of only 12.3% [5] - Planned R&D investment for 2025 is set to increase by 20%, focusing on laser guidance and integrated navigation technology [5] Market and Competition - The company's revenue from aviation inertial navigation products exceeds 75%, but gross margin fell to 38.6% [4] - The company faces challenges in market share growth due to competitive pressures and product delivery issues [5] - Overseas business revenue is less than 5%, but with higher gross margins compared to domestic operations [5] Operational Challenges - Accounts receivable turnover days increased to 210 days, up by 45 days year-on-year [6] - Contract liabilities decreased by 33% year-on-year, raising concerns about order execution and new contracts [4] - Employee count increased by 9.8%, but the proportion of R&D personnel dropped to 32% [5]

这几只票暗盘资金正在偷偷流入，立即查看>> 军工装备板块短线走低，利君股份（002651）跌停，航天彩虹（002389）、中天火箭（003009）、海兰 信（300065）、晨曦航空（300581）、新余国科（300722）等跟跌。 ...

Core Viewpoint - Xi'an Morning Star Aviation Technology Co., Ltd. reported a significant decline in revenue and net profit for 2024, prompting investor concerns about the company's financial health and strategic direction [1][2]. Financial Performance - In 2024, the company's revenue plummeted by 39.78%, with a net loss of 26.59 million yuan [1]. - The operating cash flow remained negative, raising questions about the company's liquidity and operational efficiency [1]. Asset Management - The financial asset scale reached 70.1458 million yuan, but the contribution of financial investment income to net profit was only 559,500 yuan, indicating inefficient capital allocation [2]. - Inventory value stood at 339 million yuan with a provision for inventory impairment of 3.4635 million yuan, leading to investor concerns about potential large-scale inventory write-downs [2]. - Accounts receivable turnover ratio decreased from 0.71 to 0.31, with the average collection period extending to 1,161 days, attributed to user funding progress and related partnerships [2]. Research and Development - R&D expenditure accounted for 22.03% of revenue in 2024, yet core product revenue fell by 43.8%, raising doubts about the effectiveness of the R&D management system [2]. - The company emphasized the long iteration cycle in technology-driven industries and its commitment to self-innovation as a long-term strategic plan [2]. Investor Engagement - During the earnings presentation, investors raised various questions regarding military investments, credit impairment losses, product gross margin changes, high expense ratios, order status, technology reserves, market share, and market capitalization management [2]. - The company committed to adhering to regulatory requirements for timely information disclosure and encouraged investors to monitor announcements in designated media [2].

Financial Performance - In 2024, revenue dropped by 39.78%, with a net loss of 26.59 million [3] - Operating cash flow remained negative, indicating ongoing financial challenges [3] - The contribution of financial investment income to net profit was only 559,500 [2] Inventory and Receivables - The book value of inventory was 339 million, with a write-down provision of only 3.46 million, raising concerns about potential inventory impairment risks [3] - Accounts receivable turnover ratio fell from 0.71 to 0.31, with an average collection period extending to 1,161 days [3] - Accounts receivable accounted for 36.53% of total assets, with the top five customers representing 77.22% of sales, indicating high customer concentration risk [34] Research and Development - R&D expenditure accounted for 22.03% of revenue, but core product revenue plummeted by 43.8%, highlighting a significant imbalance between R&D investment and output [3] - R&D investment increased by 38.85% year-on-year, yet revenue declined, suggesting a disconnect between R&D efficiency and market performance [20] Cost Structure - Sales, management, and financial expenses accounted for 172.46% of revenue, raising concerns about organizational efficiency [5] - The gross margin for aviation engine electronic products fell sharply by 43.15%, attributed to increased competition and potential strategic misjudgments [5] Strategic Direction - The company plans to enhance market expansion efforts and increase R&D investment to launch new products [39] - There are ongoing discussions about the company's ability to maintain military-civilian integration amid financial difficulties [25]