Group 1: Aileda (爱乐达) - Aileda's main business includes CNC precision machining, special process treatment, component assembly, and finished product R&D, gradually extending into finished product R&D projects [1] - The company has four production sites, with the Kangqiang plant being the main expansion area [1] - Due to various factors, the gross margin is expected to decline significantly in 2024, but it has recovered to 22% in Q1 2025, supported by customer expansion and cost reduction measures [1] - Aileda has introduced strategic shareholders in new material technology R&D to enhance its strategic layout in new materials and technologies [1] Group 2: Defu Technology (德福科技) - Defu Technology acquired Luxembourg Copper Foil, positioning itself among the global leaders in high-end IT copper foil [2] - Luxembourg Copper Foil, established in 1960, is the only non-Japanese high-end IT copper foil manufacturer globally, with an annual capacity of 16,800 tons [2] - The company expects revenue of €134 million and a net loss of €370,000 in 2024, but anticipates a turnaround with Q1 2025 revenue of €45 million and a net profit of €1.67 million [2] - Defu Technology's total production capacity for electrolytic copper foil has increased to 191,000 tons per year, making it the global leader [2] - The company plans to invest €18.3 million in R&D in 2024, resulting in 17 new invention patents [2] Group 3: Jiachih Technology (佳驰科技) - Jiachih Technology is focusing on YS functional structural components, serving clients including the Aviation Industry Corporation [3] - The company is expanding its production capacity supported by fundraising projects and has established the largest YS functional coating material production base in China [3] - Jiachih emphasizes technology and customer focus, increasing R&D investment to maintain technological leadership and has achieved several significant research project awards [3] Group 4: JinkoSolar (晶科能源) - JinkoSolar aims to address the intense competition in the photovoltaic industry by strictly controlling new capacity and guiding prices back to rational levels [4] - The company is making progress in upgrading high-power products, with partial deliveries of products over 640W expected in Q3 this year, and most orders will switch to these products next year [4] - JinkoSolar anticipates that its TOPCon capacity will reach 670W next year, with potential to achieve 680-700W in the next 2-3 years, and battery mass production efficiency is expected to exceed 28% [4] - The global photovoltaic market demand remains stable, with a return to normal demand in China and rapid growth in emerging overseas markets, leading to stable component prices [4]

Group 1: Company Insights - Aileda's main business includes CNC precision machining, special process treatment, component assembly, and finished product R&D, with a gradual extension into finished product R&D projects [1] - Aileda has four production sites, with the Kangqiang plant being the primary expansion area [1] - Aileda's gross margin is expected to decline significantly in 2024 due to various factors, but it has recovered to 22% in Q1 2025 through customer expansion and cost reduction measures [1] - Aileda has introduced strategic shareholders in new material technology R&D to support its strategic layout in new materials and technologies [1] Group 2: Industry Developments - Jiachitech focuses on YS functional structural components, serving clients including the Aviation Industry Corporation, with fundraising projects supporting capacity expansion [2] - Jiachitech's civilian product business is centered around the EMMS field, with developments in next-generation electromagnetic anechoic chambers and electromagnetic measurement and control, having won multiple project bids [2] - Jiachitech has established the largest YS functional coating material production base in China, with capacity meeting current and future demands [2] - Jiachitech emphasizes technology and customer focus, increasing R&D investment to ensure technological leadership and has undertaken multiple scientific research projects, receiving several major achievement awards [2]

Core Viewpoint - The company Aileda has announced its current production capacity and future expansion plans, highlighting its four production sites and the need for further capacity enhancement due to increasing business demands [2] Group 1: Production Sites and Capacities - The company operates four production sites: - Tianqin Plant: 20 acres, focusing on heat treatment and high polymer sealing materials production - Antai Plant: 48 acres, specializing in CNC precision manufacturing and surface treatment (2-meter line) - Kangqiang Plant: 100 acres, dedicated to CNC precision manufacturing, surface treatment, component assembly, and finished product R&D - Xindu Plant: 20 acres, primarily for CNC precision manufacturing and component assembly [2] - The Tianqin, Antai, and Xindu plants have reached full capacity, while the Kangqiang plant has already put several production lines into operation [2] Group 2: Future Expansion Plans - The company plans to further expand the production lines at the Kangqiang plant in response to increasing business [2] - In addition to internal capacity enhancement, the company aims to improve and extend its capacity layout through industrial collaboration, supply chain development, strategic investments, and mergers and acquisitions [2]

（文章来源：证券日报） 证券日报网讯爱乐达7月31日发布公告，在公司回答调研者提问时表示，2024年受主要客户产品价格下 调、订单下发波动、生产节奏不均衡等多重因素影响，毛利率出现较大幅度下降。2025年公司在稳定原 有业务订单回升基础上，进一步拓展多区域多品类客户业务，降低单一区域业务波动带来的变动影响； 同时着重跟进新技术、新材料趋势，进一步拓展高附加值产品；另外，公司通过进一步深化精益管理、 智能运用等方式降本增效，并已初见成效，2025年一季度毛利率已恢复至22%。 ...

Core Viewpoint - Aileda announced on July 31 that its main business is divided into four segments: CNC precision machining, special process treatment, component assembly, and finished product R&D design, focusing on the full process of aerospace components [2] Group 1: Business Segments - The company’s main business revolves around the full process of aerospace components [2] - The business gradually extends from product process operations to finished product R&D projects [2] - The company aims to excel in precision machining, strengthen special processes, optimize assembly, and enhance finished product design in a comprehensive development approach [2]

Core Viewpoint - The company Aileda (300696) has announced a strategic partnership with Zhili Ming, focusing on new material technology research and development, which aligns with national support for new materials and technologies [1] Group 1: Strategic Partnership - The strategic partner Zhili Ming is positioned in the development of new metal functional materials, new ceramic materials, and intelligent manufacturing equipment sales [1] - The partnership is expected to enhance the company's strategic layout in the new materials and technologies industry [1] Group 2: Business Development Initiatives - The company plans to leverage its full-process manufacturing advantages in aerospace components to explore and cultivate future market opportunities [1] - Initiatives include following the development trends of military and civilian new aircraft models, and expanding production support for new products developed by main engine manufacturers and research institutes [1] - The company aims to create a one-stop service for the entire process of "raw material procurement—CNC precision processing—special process treatment—component assembly" to further expand its multi-product full-process service [1] Group 3: Market Expansion - The company is actively pursuing opportunities in the low-altitude economy and is continuously laying out its manufacturing business for general aviation components [1] - There is a focus on integrating upstream and downstream industry resources to expand the strategic layout in the new materials and technologies field supported by the state, achieving resource synergy and complementarity [1]

特种工艺处理公司分别建有2米和8米特种工艺生产线，除保障公司自身承接的机加产品特种工艺和主机 厂及其协作单位提供机加产品特种工艺处理外，随着康强厂区8米产线陆续投入使用，公司着重加强航 空制造领域其他客户特种工艺处理业务拓展，尤其着重于C919、无人机等特种工艺配套服务。 证券之星消息，2025年7月31日爱乐达（300696）发布公告称公司于2025年7月29日接受机构调研，工银 瑞信刘展硕、宏利基金孙硕、国寿资产章翔、中信证券赵征、文博启胜程严、中睿合银叶笑坤、中金公 司（601995）刘婧刘中玉参与。 具体内容如下： 问：公司主营业务变化情况？ 答：公司主营业务分为四个板块数控精密加工、特种工艺处理、部组件装配、成品研发设计。公司主营 业务围绕航空零部件全流程开展，逐步由产品工序业务向成品研发项目延展布局，公司定位做精机加、 做强特种工艺、做优装配、做好成品设计"四位一体"综合发展。数控精密加工作为公司基本核心业务， 聚焦航空关键承力、复杂曲面、异型深腔等结构件以及多品种小批量件的柔性智造。该板块业务随着主 机厂主力型号业务订单下发，生产任务较2024年明显增长。同时，基于公司康强新厂区数控柔性化产 线 ...

Group 1: Company Overview - The company operates in four main business segments: CNC precision machining, special process treatment, component assembly, and finished product R&D design [2] - The company focuses on the entire process of aviation parts, transitioning from product process business to finished product R&D projects [2] - The company has established a full lifecycle R&D system for aviation products, gradually expanding to multiple categories of finished products [3] Group 2: Production Capacity and Facilities - The company has four production sites: - Tianqin Plant: 20 acres, mainly for heat treatment and polymer sealing materials - Antai Plant: 48 acres, primarily for CNC precision manufacturing and surface treatment (2-meter line) - Kangqiang Plant: 100 acres, focusing on CNC precision manufacturing, surface treatment, component assembly, and finished product R&D design - Xindu Plant: 20 acres, mainly for CNC precision manufacturing and component assembly [3] - The production capacity layout of Tianqin, Antai, and Xindu plants is fully utilized, while Kangqiang Plant's production lines are operational and will be expanded as business increases [3] Group 3: Business Performance and Profitability - In 2024, the company's gross margin significantly declined due to factors such as price reductions from major clients and fluctuations in order issuance [4] - By Q1 2025, the gross margin has recovered to 22% as the company stabilizes existing orders and expands its client base across multiple regions and product categories [4] Group 4: Strategic Development and Future Plans - The company has introduced a strategic partner focused on new materials technology, which will enhance its capabilities in new metal functional materials, ceramic materials, and 3D printing [4] - Future plans include: - Following trends in military and civilian new models to expand R&D and production for new products - Continuing to develop a one-stop service for the entire process of aviation parts manufacturing - Actively pursuing opportunities in the low-altitude economy and general aviation parts manufacturing [4]

Group 1 - Military stocks experienced significant fluctuations, with Hengyu Xintong hitting the 20% daily limit increase [1] - Guorui Technology rose over 10%, while Hangfa Technology, Great Wall Military Industry, and Beifang Changlong increased by over 5% [1] - Other companies such as Yaxing Anchor Chain, Aileda, Chenxi Aviation, and China Satellite also saw gains [1]

证券代码：300696 证券简称：爱乐达 公告编号：2025-031 成都爱乐达航空制造股份有限公司 关于持股 5%以上股东股份质押的公告 持股 5%以上股东四川治历明时科技有限公司保证向本公司提供的信息内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 成都爱乐达航空制造股份有限公司（以下简称"公司"或"本公司"）近日接 到公司持股5%以上股东四川治历明时科技有限公司（以下简称"治历明时"）函 告，获悉其所持有本公司的股份被质押，具体情况公告如下： | | 是否为 控股股 东或者 | | 占其 | 占公司 | 是否 | 是否 | | 质押 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | | 本次质押 | 所持 | | | 为补 | 质押 | | | 质押 | | 名称 | 第一大 | 数量 | 股份 | 总股本 | 为限 | 充质 | 起始日 | 到期 | 质权人 | 用途 | | | 股东及 | | 比例 | 比例 ...