为更好与投资者沟通交流，便于广大投资者深入全面地了解上海华测导航技 术股份有限公司（以下简称"公司"）情况，公司拟举办投资者接待日活动，现 将有关事项公告如下： 1、接待时间：2025年8月8日（星期五）下午13:30-15:30（其中13:30-15:00为 现场交流，15:00-15:30为公司展厅参观）。 2、接待地点：上海市青浦区崧盈路577号华测时空智能产业园C座二楼会议 室 3、公司主要参与人员：公司董事长赵延平先生，公司副总经理、董事会秘 书孙梦婷女士（如有特殊情况，参会人员会有所调整） 证券代码：300627 证券简称：华测导航 公告编号：2025-070 上海华测导航技术股份有限公司 关于举办投资者接待日活动的公告 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。 8、投资者接待日活动的投资者食宿及交通费用自理，请提前半小时到达活 动地点。 衷心感谢广大投资者对公司的关心和支持！ 4、预约方式：为更好的安排本次活动，请有意参与此次活动的投资者通过 扫描下方二维码进行预约报名或将附件一预约登记表及身份证明文件发送至下 述指定邮箱，以便公司做好接待 ...

Group 1 - The core viewpoint of the article highlights Huace Navigation's focus on the high-precision satellite navigation and positioning industry, emphasizing its value creation through diversified applications [1] - Huace Navigation is recognized as a leading enterprise in China's high-precision satellite navigation and positioning industry, concentrating on the research, manufacturing, integration, and industrial application of core technologies and solutions related to high-precision navigation [1] - The demand for global navigation satellite systems has significantly increased due to the broadening application of satellite navigation systems in civilian sectors, which initially served military purposes [1] Group 2 - The market for satellite navigation is expected to grow, and as high-precision positioning applications become more widespread, Huace Navigation's performance is anticipated to improve [1] - The earnings per share (EPS) forecasts for Huace Navigation are projected to be 1.05 yuan and 1.26 yuan for the years 2025 and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 34 times and 29 times [1] - The report maintains a "buy" rating for Huace Navigation, indicating a positive outlook for the company's future performance [1]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Viewpoints - The company is a leader in China's high-precision spatiotemporal information industry, focusing on the research, manufacturing, integration, and industrial application of core technologies and solutions related to high-precision navigation and positioning [6][13] - The demand for high-precision positioning is growing, with the global GNSS downstream market expected to grow at a compound annual growth rate (CAGR) of over 8% from 2023 to 2033, driven mainly by enhanced services and other GNSS-related services [6][56] - The company's revenue is projected to increase, with expected EPS of 1.05 and 1.26 yuan for 2025 and 2026, corresponding to PE ratios of 34 times and 29 times, respectively [6][31] Summary by Sections 1. Deepening the High-Precision Navigation and Positioning Industry - The company has established itself as a leader in the high-precision satellite navigation positioning industry in China, with a focus on core technologies and solutions [6][13] - The company has continuously invested in R&D, accumulating several leading technologies and forming a core algorithm capability with technical barriers [6][14] 2. Rapid Development of the Satellite Navigation Industry - The global GNSS downstream market revenue is expected to grow significantly, with a projected market size of approximately 460 billion euros by 2033, accounting for 80% of the global GNSS downstream market [6][56] - The company has expanded its business into various sectors, including public resources, construction, geographic information, and robotics, continuously broadening its application [6][67] 3. Continuous Expansion of High-Precision Positioning Applications - The company provides high-precision navigation positioning services for agriculture, forestry, and public utilities, and offers solutions for construction and engineering projects [6][67] - The company has developed intelligent measurement and sensing devices that integrate multiple sensor technologies for spatial information acquisition, widely applied in smart city construction and emergency monitoring [6][67] 4. Investment Strategy - The report suggests maintaining a "Buy" rating based on the company's leading position in the high-precision satellite navigation industry and the expected growth in the satellite navigation market [6][31]

（文章来源：每日经济新闻） 东莞证券7月31日发布研报称，给予华测导航（300627.SZ，最新价：35.28元）买入评级。评级理由主 要包括：1）公司是我国高精度时空信息产业引领者；2）高精度定位需求增长；3）卫星导航市场规模 持续攀升，应用持续拓展延伸。风险提示：行业竞争加剧、技术创新和行业变化风险、产业政策变动风 险、国际贸易风险、核心技术人员流失风险。 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Viewpoints - The company is a leader in China's high-precision space-time information industry, focusing on the research, manufacturing, integration, and industrial application of core technologies and solutions related to high-precision navigation and positioning [6][13]. - The demand for high-precision positioning is growing, with the global GNSS downstream market expected to grow at a compound annual growth rate (CAGR) of over 8% from 2023 to 2033, driven mainly by enhanced services and other GNSS-related services [6][56]. - The company's revenue is projected to increase, with expected earnings per share (EPS) of 1.05 and 1.26 yuan for 2025 and 2026, respectively, corresponding to price-to-earnings (PE) ratios of 34 times and 29 times [6][31]. Summary by Sections Company Overview - The company was established in 2003 and listed on the Shenzhen Stock Exchange in 2015, focusing on high-precision satellite navigation and positioning technology [6][13]. - It has developed a range of leading technologies and has established a strong technical barrier in core algorithm capabilities, providing high-precision positioning equipment and system applications across various industries [6][13][14]. Market Development - The satellite navigation market is expanding, with the global GNSS downstream market revenue expected to reach approximately 460 billion euros by 2033, accounting for 80% of the market [6][56]. - The company has diversified its applications across four major sectors: resources and public utilities, construction and infrastructure, geographic information, and robotics and autonomous driving [6][67]. Financial Performance - The company's revenue grew from 1.903 billion yuan in 2021 to 3.251 billion yuan in 2024, with a CAGR of 19.54% [29]. - In Q1 2025, the company reported revenue of 789 million yuan, a year-on-year increase of 27.91%, and a net profit of 143 million yuan, up 38.50% year-on-year [31][34]. - The gross profit margin increased from 54.64% in 2021 to 58.13% in 2024, indicating improved profitability [37]. Research and Development - The company has consistently increased its R&D spending, with expenditures rising from 333 million yuan in 2021 to 469 million yuan in 2024, and the number of R&D personnel growing from 329 to 681 during the same period [41][44]. - The focus on R&D includes advancements in high-precision positioning chips, autonomous driving technologies, and AI-related software and algorithms [41][44]. Industry Trends - The GNSS industry is experiencing rapid growth, with increasing demand for high-precision positioning solutions across various sectors, including agriculture, urban development, and infrastructure [56][64]. - The global satellite market value is projected to grow from 283 billion USD in 2021 to 357 billion USD by 2025, with a CAGR of 2.6% [51][56].

Core Viewpoint - The China Aerospace and Aviation Index (CS Aerospace, H30213) has shown significant growth, with a 2.97% increase over the past month, 19.87% over the past three months, and 9.41% year-to-date, reflecting the overall performance of listed companies in the aerospace sector [2]. Group 1: Index Performance - The CS Aerospace Index is composed of 50 listed companies in the aerospace sector, with a base date of December 31, 2004, set at 1000.0 points [2]. - The index has experienced a monthly increase of 2.97%, a quarterly increase of 19.87%, and a year-to-date increase of 9.41% [2]. Group 2: Index Composition - The top ten weighted companies in the CS Aerospace Index are: AVIC Shenyang Aircraft (9.77%), Guangqi Technology (8.54%), Aero Engine Corporation of China (7.8%), AVIC Optoelectronics (6.77%), AVIC Xi'an Aircraft (5.51%), AVIC Aircraft (4.24%), Aerospace Electronics (3.69%), AVIC Chengfei (3.45%), AVIC Gaoke (3.11%), and Huace Navigation (2.73%) [2]. - The index's holdings are primarily from the Shanghai Stock Exchange (52.90%) and the Shenzhen Stock Exchange (47.10%) [2]. Group 3: Industry Breakdown - The industry composition of the index shows that aerospace accounts for 78.74%, defense equipment for 15.81%, communication equipment for 2.73%, and software development for 2.72% [2]. Group 4: Sample Adjustment - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December, with a sample adjustment ratio not exceeding 20% [3]. - Weight factors are adjusted in accordance with sample changes, and special circumstances may lead to temporary adjustments [3].

Group 1 - Iran is planning to migrate its positioning services from GPS to China's BeiDou navigation system, emphasizing its advanced architecture and high positioning accuracy, particularly in Asia [1] - The BeiDou system has been recognized as a core global satellite navigation system by the United Nations, with extensive international cooperation agreements and product exports to over 140 countries [1] - The development of BeiDou is entering a critical phase of marketization, industrialization, and internationalization, supported by a three-step construction plan [1][2] Group 2 - The low Earth orbit satellite constellation plan is progressing, with BeiDou technology making breakthroughs and establishing a solid infrastructure for high-precision positioning and spatiotemporal data industries [2] - The "Star Network + BeiDou" framework is expected to form a benchmark technical support system for spatiotemporal data elements [2] Group 3 - Companies involved in BeiDou high-precision navigation chips include Haige Communication, BeiDou Star, and Zhenxin Technology [3] - High-precision time synchronization is provided by Tianao Electronics, while various companies are engaged in boards/terminals and spatiotemporal applications [3]

资金流向方面，今日主力资金净流出1984.98万元，占比成交额7.4%。其中，超大单净流出1545.01万 元、占成交额5.76%，大单净流出439.97万元、占成交额1.64%，中单净流出流出717.74万元、占成交额 2.67%，小单净流入2702.72万元、占成交额10.07%。 金融界消息 截至2025年7月30日收盘，华测导航（300627）报收于36.18元，下跌0.39%，换手率 1.15%，成交量7.40万手，成交金额2.68亿元。 通过天眼查大数据分析，上海华测导航技术股份有限公司共对外投资了38家企业，参与招投标项目4840 次，知识产权方面有商标信息130条，专利信息691条，此外企业还拥有行政许可94个。 来源：金融界 华测导航最新一期业绩显示，截至2025一季报，公司营业总收入7.89亿元、同比增长27.91%，归属净利 润1.43亿元，同比增长38.50%，扣非净利润1.23亿元，同比增长42.09%，流动比率3.457、速动比率 3.015、资产负债率26.59%。 天眼查商业履历信息显示，上海华测导航技术股份有限公司，成立于2003年，位于上海市，是一家以从 事专业技术服务业为 ...

资金流向方面，今日主力资金净流出1547.82万元，占比成交额6.35%。其中，超大单净流出1316.48万 元、占成交额5.4%，大单净流出231.34万元、占成交额0.95%，中单净流出流入1645.26万元、占成交额 6.75%，小单净流出97.44万元、占成交额0.4%。 来源：金融界 天眼查商业履历信息显示，上海华测导航技术股份有限公司，成立于2003年，位于上海市，是一家以从 事专业技术服务业为主的企业。企业注册资本54946.2674万人民币，实缴资本8550万人民币。公司法定 代表人为赵延平。 金融界消息 截至2025年7月29日收盘，华测导航（300627）报收于36.32元，上涨0.36%，换手率 1.05%，成交量6.74万手，成交金额2.44亿元。 通过天眼查大数据分析，上海华测导航技术股份有限公司共对外投资了38家企业，参与招投标项目4837 次，知识产权方面有商标信息130条，专利信息690条，此外企业还拥有行政许可94个。 华测导航最新一期业绩显示，截至2025一季报，公司营业总收入7.89亿元、同比增长27.91%，归属净利 润1.43亿元，同比增长38.50%，扣非净利润1. ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交星 | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | | | | | 2025-07-29 | 300627 | 华测导航 | 34.51 | 14.00 | 483.14 | 华金证券股份有限 | 长江证券股份有限 | | | | | | | | 公司湖北分公司 | 公司武汉新华路证 | | | | | | | | | 券营业部 | 7月29日，华测导航大宗交易成交14万股，成交额483.14万元，占当日总成交额的1.94%，成交价34.51元，较市场收盘价 36.32元折价4.98%。 ...