证券代码：300777 证券简称：中简科技 公告编号：2026-004 中简科技股份有限公司 关于诉讼事项进展暨二审判决结果的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1.案件所处的诉讼阶段：二审判决，为终审判决。 2.上市公司所处的当事人地位：被上诉人 3.涉案金额：不适用 4.判决结果：驳回上诉，维持原判 5.对上市公司损益产生的影响：本案判决为终审判决，不会对公 司的持续经营和财务状况产生重大不利影响。 2025 年 11 月，公司收到江苏省常州市新北区人民法院出具的《民 事判决书》，一审判决驳回原告温月芳女士的全部诉讼请求。详见公 司于 2025 年 11 月 11 日披露的《关于公司诉讼事项进展的公告》。 1 2025 年 12 月，公司收到江苏省常州市新北区人民法院电子送达 的《民事上诉状》，温月芳女士针对一审判决结果，提起上诉。详见 公司于 2025 年 12 月 8 日披露的《关于公司收到<民事上诉书>暨诉讼 进展的公告》。 2026 年 1 月，公司收到江苏省常州市中级人民法院电子送达的 《应诉通知书》等法律文书。详见 ...

Core Viewpoint - The completion of the 1 billion yuan high-performance aerospace-grade carbon fiber and fabric project by Zhongjian Technology marks a significant advancement in domestic production capacity for T1100-grade carbon fiber, reinforcing China's self-sufficiency in this critical industry [2][3]. Group 1: Project Overview - The project, with a total investment of 1 billion yuan, has achieved a stable production capacity of 600 tons of aerospace-grade carbon fiber annually, focusing on the ZT9H (T1100-grade) model [2]. - The ZT9H carbon fiber is recognized for its high strength, high modulus, and lightweight properties, with a tensile strength dispersion coefficient of less than 3% and a yield rate exceeding 95% [2]. Group 2: Market Impact - Zhongjian Technology is the only company in China to achieve the engineering mass production of T1100-grade carbon fiber, addressing a significant domestic supply gap in high-end carbon fiber [3]. - The new production capacity will enhance the stability of domestic high-end carbon fiber supply, supporting key materials for China's commercial rockets, satellites, and hypersonic vehicles [3]. Group 3: Future Plans - The overall plan for Zhongjian Technology's third-phase project involves a total investment of approximately 1.5 billion yuan, aiming for an annual production capacity of 1,500 tons of aerospace-grade carbon fiber by June 2026 [3]. - Upon full production, the company is expected to maintain over 70% market share in the high-end carbon fiber market for commercial aerospace applications [3].

Investment Rating - The report suggests focusing on investment targets with large market space, high barriers, and high performance elasticity, particularly in sectors expected to experience high growth such as new aviation equipment, missiles, unmanned equipment, military trade, domestic large aircraft, gas turbines, and commercial aerospace [5][30]. Core Insights - The report highlights that the military industry is driven by three macro factors: national defense policy, geopolitical environment, and domestic military expenditure, indicating an upward trend for the industry [2][31]. - It emphasizes the structural characteristics of traditional equipment showing steady growth while new combat power equipment is expected to see high growth, with military trade and civil-military integration opening up growth ceilings for military enterprises [2][30]. - The analysis of the military industry from 2020 to 2025 indicates that significant price inflation in certain segments, driven by equipment upgrades and increased usage, has led to substantial profit elasticity [1][23]. Summary by Sections Review of Military Industry Trends - The report reviews the military industry from 2020 to 2025, noting that the growth was primarily driven by national defense policies and the release of new equipment, leading to a "Davis double-click" market dynamic [14][16]. - It also discusses the impact of geopolitical events, such as the Russia-Ukraine war, on military stock performance, particularly in the U.S. market, where military stocks have seen significant valuation increases despite not achieving rapid growth in fundamentals [25][26]. Key Sectors to Watch - The report identifies key sectors to focus on, including: - **Aviation New Equipment**: Emphasizing the importance of new models and increased usage [8]. - **Missiles**: Highlighting the potential for high elastic growth due to low baselines and strong consumption attributes [8]. - **Unmanned Equipment**: Noting the maturation of China's unmanned equipment industry and its expected high growth during the 14th Five-Year Plan [8]. - **Military Trade**: Recognizing military trade as a significant growth driver for established military enterprises [8]. - **Domestic Large Aircraft**: Indicating that the large aircraft industry is entering a period of accelerated development [8]. - **Gas Turbines**: Focusing on the high demand driven by data center electricity needs [9]. - **Commercial Aerospace**: Identifying it as a super track with significant growth potential [9]. Investment Recommendations - The report recommends identifying investment targets that are positioned in high-growth sectors with large market potential and high barriers to entry, ensuring that these companies can benefit from the overall industry growth [5][30]. - It suggests focusing on companies with strong market positions and high performance elasticity, particularly those involved in high-demand segments such as military AI, unmanned systems, and commercial aerospace [5][30].

Investment Rating - The report assigns an "Overweight" rating for the commercial aerospace materials sector, specifically highlighting the potential of high-performance carbon fiber [4]. Core Insights - The commercial aerospace industry is entering a critical phase of scaled development, with lightweight materials like carbon fiber becoming essential for cost efficiency and performance enhancement [5][11]. - The demand for carbon fiber in the satellite sector is expected to grow significantly, with projections indicating that the domestic market for aerospace-grade carbon fiber could reach 6.69 billion yuan by 2030, reflecting a compound annual growth rate (CAGR) of approximately 103% [5][20]. - The report emphasizes the competitive advantage of domestic companies in the carbon fiber market, particularly in light of technological advancements and the increasing demand for high-performance materials [6][12]. Summary by Sections 1. Lightweight Materials as Strategic Necessity - Lightweight materials are crucial for reducing launch costs and improving payload efficiency in commercial aerospace [11][13]. - Carbon fiber composites are becoming the primary structural materials for spacecraft due to their superior properties, including low density and high strength [17][19]. 2. Demand Dynamics - The satellite sector is driving demand for carbon fiber, with a dual elasticity in both volume and price due to the trend of larger satellites requiring more robust materials [5][20]. - The market for satellite carbon fiber is projected to grow from 360 million yuan to 6.46 billion yuan from 2026 to 2030, while rocket carbon fiber demand is expected to increase from 40 million yuan to 230 million yuan in the same period [5][20]. 3. Supply Landscape - The global supply of aerospace-grade carbon fiber is currently dominated by a few companies in Japan and the U.S., but domestic leaders are making significant advancements [6][12]. - Domestic companies like Guangwei Composites and Zhongfu Shenying are positioned to benefit from the increasing demand and are expected to maintain a premium due to their technological capabilities [6][12]. 4. Key Companies - Guangwei Composites is highlighted as a leading player in the high-performance carbon fiber market, with a focus on aerospace applications [6][12]. - Zhongfu Shenying is recognized for its advancements in carbon fiber technology and its ability to meet the growing demand in the satellite sector [6][12]. - Other notable companies include Zhongjian Technology and Jilin Chemical Fiber, which are also positioned to capitalize on the expanding market [6][12].

Core Viewpoint - The company is progressing with its fourth-phase project as planned, focusing on capacity ramp-up and production validation, while ensuring orderly capacity release in response to market dynamics [1] Group 1: Project Progress - The fourth-phase project will advance according to the planned verification and production schedule [1] - The third-phase project is currently experiencing steady capacity ramp-up and increasing capacity utilization [1] Group 2: Capacity and Revenue Relationship - The relationship between new capacity release and revenue/profit growth is not straightforward and is influenced by multiple factors such as market demand, customer needs, product structure, cost allocation, and industry environment [1] Group 3: Strategic Focus - The company will continue to focus on its core business of high-end carbon fiber, aiming to enhance capacity utilization and operational efficiency for long-term stable returns to investors [1]

Group 1 - The core objective of the company is to participate in the development and mass production of domestic large aircraft [1] - The company is currently formulating a timeline and work plan regarding the C929 project based on internal demand [1] - The company is actively advancing according to the established goals [1]

Group 1 - The company is currently in the ramp-up phase of its third-phase project, with capacity utilization gradually increasing to better meet downstream market demand [1]

Group 1 - The core objective of the company is to participate in the development and mass production tasks of domestic large aircraft [1] - The company is currently formulating a timeline and work plan based on the demand for the C929 aircraft [1] - The company is actively advancing according to its established goals [1]

Core Viewpoint - The rapid development of commercial aerospace will create significant market opportunities for carbon fiber composite materials, as indicated by the company's recent updates on its product applications in the aerospace sector [1]. Group 1: Company Developments - The company has multiple products applied in the aerospace field, highlighting its involvement in this growing industry [1]. - The company is currently in the process of debugging and trial production for its fourth-phase project, indicating ongoing efforts to enhance production capabilities [1]. - As products tailored for specific aerospace applications gradually enter production, the company aims to expand its market reach and strengthen its supply chain [1]. Group 2: Industry Outlook - The commercial aerospace sector's rapid growth is expected to provide a more substantial market space for carbon fiber composite materials, suggesting a positive trend for the industry [1].

Core Viewpoint - Zhongjian Technology (300777.SZ) aims to enhance its investment capabilities and internal development quality by investing 30 million yuan in a new fund, aligning with its strategic direction to promote main business development through investment [1] Investment Details - The company will invest 30 million yuan in partnership with several entities, including Shanghai Hengxu Chuangling Private Fund Management Co., Ltd. and Jiangsu Changzhou New Energy Industry Special Mother Fund [1] - The total scale of the "Qifan New Industry Investment Fund" is set at 1 billion yuan, focusing on strategic emerging industries and nurturing future industries [1] Strategic Alignment - The investment in the Qifan New Industry Fund is expected to drive the development of the company's main business and extend its product application areas, which is in line with the company's strategic direction [1]