Core Viewpoint - Recent trends in the A-share market show an increase in supplementary agreements for share transfers, with a common focus on extending the lock-up period for acquired shares to 12 months, reflecting regulatory guidance on shareholder behavior [1][3]. Group 1: Share Transfer Agreements - Zhongyin Fashion (300901) disclosed on May 14 that its controlling shareholder Zhongyin Group signed supplementary agreements with Wenda Private Equity and Jinhai Investment, committing to a 12-month lock-up period for the transferred shares [1]. - Aileda (300696) announced on May 13 that its actual controller and associated parties signed a supplementary agreement, ensuring that the acquirer will not reduce their holdings for 12 months post-transfer [1]. - Davi Co. (300535) also confirmed a similar agreement, with its actual controllers agreeing to a 12-month lock-up period for shares acquired through a transfer [1]. Group 2: Common Characteristics of Agreements - Recent agreements share common traits: original share transfer agreements were signed before February this year, and the acquirers' holdings represent over 5% of the total share capital of the listed companies [3]. - Prior agreements typically included compliance with the Interim Measures for the Administration of Shareholder Reduction of Listed Companies, which mandates a 6-month lock-up for acquirers of major shareholder stakes [3]. - The supplementary agreements indicate an extension of the lock-up period by an additional 6 months, resulting in a total of 12 months or more for the acquirers [3].

Investment Rating - The report maintains an "Overweight" rating for the low-altitude economy sector [3][36]. Core Insights - The low-altitude economy index increased by 9.8% this week, with an average daily trading volume of 31.152 billion yuan, indicating a significant rise in market activity and valuation [3][13]. - The military performance of Chinese weaponry in the India-Pakistan conflict has led to a reevaluation of the aerospace sector's value, particularly in the military industry [3][13]. Sector Performance - The low-altitude economy index outperformed the Shanghai and Shenzhen 300 index by 7.92% this week [3][13]. - The price-to-earnings ratio (TTM) reached 96.48, placing it in the 99.58% percentile over the past year [3][13]. - The average daily net inflow of main funds was 254 million yuan, indicating a shift towards net inflows from major investors [3][13]. Individual Stock Performance - The top five performing stocks this week were Chenxi Aviation, Aerospace Nanhu, Aileda, Sichuan Electronics, and Andavil, with significant weekly gains [4][18]. - Conversely, the five stocks with the largest declines included Wolong Electric Drive, Yingboer, Bozhong Precision, Xiaopeng Motors-W, and *ST Shengxun [4][18]. Industry Dynamics - The report highlights the release of the "2024 County (District) Low-altitude Economy Industry Development Index Report," which evaluates various indicators across leading counties and cities [5][22]. - A low-altitude regulatory service platform has been established in Qingdao, enhancing the management and monitoring of low-altitude airspace [5][22]. - Four major low-altitude economic projects have been signed in Shanghai's Qingpu District, focusing on various aspects of the low-altitude economy [5][23]. Policy Developments - Sichuan Province has issued several policy measures to support the development of the low-altitude economy, including financial support for the construction of general airports and low-altitude management systems [6][31]. Key Company Developments - Wofei Chang Kong has signed a strategic agreement with China Construction Bank and Jianxin Financial Leasing, securing a total financing amount of 6 billion yuan, marking the highest financing leasing credit in the domestic eVTOL sector [7][32]. - Zero Gravity showcased its ZG-ONE "Que Fei" model at the 2025 World Expo in Osaka, Japan, highlighting advancements in Chinese aviation technology [7][35]. - Zongheng Co., Ltd. has won bids for low-altitude projects in Sichuan, indicating active participation in the sector [7][35].

爱乐达（300696）公告，实际控制人谢鹏和范庆新拟通过协议转让方式，分别向治历明时转让无限售流 通股879.4万股、872.42万股，分别占公司总股本比例2.9998%、2.9760%。合计拟转让股份1751.82万 股，占公司总股本比例5.9758%。近日，谢鹏、范庆新与治历明时签署了《股份转让协议补充协议》， 就《股份转让协议》进行了补充，主要内容为治历明时及其一致行动人自股份过户完成之日起12个月内 不会以任何方式主动减持本次转让中取得的爱乐达股份。 ...

成都爱乐达航空制造股份有限公司 关于受让方出具特定期间不减持公司股份 承诺的公告 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。 证券代码：300696 证券简称：爱乐达 公告编号：2025-020 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"、"爱乐达"或"标 的公司"）实际控制人及其一致行动人谢鹏先生、范庆新先生（以下简称"转让 方"）与四川治历明时科技有限公司（以下简称"治历明时""受让方"）于 2025 年 1 月 3 日签订了《成都爱乐达航空制造股份有限公司股份转让协议》（以下简 称"《股份转让协议》"）。谢鹏先生、范庆新先生拟通过协议转让方式，分别 向治历明时转让其所持有的公司无限售流通股 8,793,954 股、8,724,227 股，分 别占公司总股本比例 2.9998%、2.9760%。合计拟转让股份 17,518,181 股，占公 司总股本比例 5.9758%。 具体内容详见公司于 2025 年 1 月 3 日在巨潮资讯网（www.cninfo.com.cn ...

证券代码：300696 证券简称：爱乐达 公告编号：2025-019 成都爱乐达航空制造股份有限公司 关于实际控制人及其一致行动人拟协议转让公司部 分股份进展暨签署补充协议的公告 谢鹏先生、范庆新先生、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。 特别提示： 1、本次协议转让事项尚需深圳证券交易所进行完备性审核确认后，方能在 中国证券登记结算有限责任公司深圳分公司办理股份协议转让过户相关手续。 本次股份协议转让事项最终能否实施完成尚存在不确定性，敬请广大投资者注 意投资风险。 一、本次协议转让暨权益变动的基本情况 成都爱乐达航空制造股份有限公司（以下简称"公司"、"爱乐达"或 "标的公司"）实际控制人及其一致行动人谢鹏先生、范庆新先生（以下简称 "转让方"）与四川治历明时科技有限公司（以下简称"治历明时""受让 方"）于2025年1月3日签订了《成都爱乐达航空制造股份有限公司股份转让协 议》（以下简称"《股份转让协议》"）。谢鹏先生、范庆新先生拟通过协议 转让方式，分别向治历明时 ...

证券代码：300696 证券简称：爱乐达 公告编号：2025-021 成都爱乐达航空制造股份有限公司（以下简称"公司"）于2025年4月22日 在中国证监会指定的创业板信息披露网（http://www.cninfo.com.cn）上刊登 了《关于召开2024年年度股东大会的通知》（公告编号：2025-016）。 本次股东大会采用现场投票与网络投票相结合的方式，为进一步保护投资 者的合法权益，方便本公司股东行使股东大会表决权，完善本次股东大会的表 决机制，现发布关于公司召开2024年年度股东大会的提示性公告。 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、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：本次股东大会的召开符合有关法律法规、深 圳证券交易所业务规则和《公司章程》等规定。 4、会议召开的日期、时间 成都爱乐达航空制造股份有限公司 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。 （1）现场会议召开时间：2025年5月16日（星期五）下午14:00 （2）网络投票时间：20 ...

证券代码：300696 证券简称：爱乐达 公告编号：2025-018 成都爱乐达航空制造股份有限公司 监事会关于 2025 年限制性股票激励计划首次授予 激励对象名单的审核意见及公示情况说明 对象名单提出的任何异议。 证券代码：300696 证券简称：爱乐达 公告编号：2025-018 （二）公司监事会对首次授予激励对象的审查方式 公司监事会审查了本激励计划首次授予激励对象的名单、身份证件、首次授 予激励对象与公司（含合并报表子公司，下同）签订的劳动合同/劳务合同/聘用 合同、首次授予激励对象在公司担任的职务及其任职文件。 二、监事会审核意见 监事会根据《管理办法》《自律监管指南第 1 号》的规定，对本激励计划首 次授予激励对象名单进行了审核，并发表审核意见如下： 本公司及监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）首次授予激励对象为公司中层管理人员与核心骨干，均为公司正式在 职员工。无公司董事（含独立董事）、高级管理人员、监事、外籍员工，也不包 括单独或合计持有公司 5%以上股份的股东或实际控制人及其配偶、父母、子女。 一、公示情况及审查方式 召开第四届董 ...

证券代码：300696 证券简称：爱乐达 公告编号：2025-018 （一）公司对本激励计划首次授予激励对象的公示情况 1、公示内容：激励对象的姓名和职务。 2、公示时间：2025 年 4 月 22 日至 2025 年 5 月 1 日，共计十天。 成都爱乐达航空制造股份有限公司 监事会关于 2025 年限制性股票激励计划首次授予 激励对象名单的审核意见及公示情况说明 本公司及监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、公示情况及审查方式 2025 年 4 月 21 日，成都爱乐达航空制造股份有限公司（以下简称"公司"） 召开第四届董事会第二次会议、第四届监事会第二次会议，审议通过了《关于 <2025 年限制性股票激励计划（草案）>及其摘要的议案》等相关议案，具体内容 详见公司于 2025 年 4 月 22 日在巨潮资讯网（http://www.cninfo.com.cn）上披 露的相关公告。 根据《上市公司股权激励管理办法》（以下简称《管理办法》）、《深圳证 券交易所创业板上市公司自律监管指南第 1 号——业务办理》（以下简称《自律 监管指南第 1 号》）的相 ...

Market Overview - The three major A-share indices opened slightly lower on May 9, with the Shanghai Composite Index down 0.3% to 3342 points, the ChiNext Index down 0.87% to 2011.77 points, and the STAR Market 50 Index down 1.96% to 1006.32 points [3][4] - A total of 1212 stocks rose while 4061 stocks fell across the exchanges, with a total trading volume of 11.92 billion yuan, a decrease of 1.014 billion yuan from the previous trading day [4][5] Sector Performance - Bank stocks continued to rise, with several banks reaching new highs, including China Construction Bank and Jiangsu Bank, both gaining over 2% [6] - The semiconductor sector faced significant declines, with companies like Huahong Semiconductor and Espressif Systems dropping over 7% [6] - The textile and apparel sector showed strong performance, with multiple stocks hitting the daily limit or rising over 10% [6] - The real estate sector performed poorly, with several companies declining over 3% [7] Market Sentiment and Outlook - Analysts expect the market to maintain a steady upward trend in the short term, supported by structural monetary policy and anticipated fiscal measures aimed at boosting domestic demand [8][9] - The market is likely to experience a structural rally driven by both policy and earnings, with a focus on sectors with high earnings certainty and clear policy catalysts [9] - The military and defense sector is expected to benefit from ongoing geopolitical tensions, with growth potential in military trade and increased competitiveness of Chinese military products [10]

Group 1 - Military stocks experienced a collective adjustment with significant declines in several companies [1] - Companies such as Aileda, Tongyi Aerospace, and Deguang Technology saw drops exceeding 5% [1] - Other affected companies include Tianqin Equipment, Xiling Power, Zhongke Haixun, Guorui Technology, and Guoke Military Industry [1]