证券代码：301302 证券简称：华如科技 1、公司 2025 年经营业绩情况？ 公司在2025年处于被军队采购网禁止参加全军物资工 程服务采购活动的阶段，受该事项及军工行业周期性调整 的影响，2025 年公司新签订单金额为 3.66 亿元，较 2024 年略有下降。但由于"十四五"末期部分项目交付周期相 对集中，公司完成验收的项目有所增加，推动 2025 年营业 收入较 2024 年实现增长。 北京华如科技股份有限公司 投资者关系活动记录表 编号：2026-002 | | □特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系活 | □媒体采访 | □业绩说明会 | | 动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □电话会议 | | | ☑券商策略会 | | | 参与单位名称 | 中信证券：潘儒琛、张梦頔；首创证券：王宏涛；中邮资 | | | 及人员姓名 | 管：孟东晖；红马投资：杨宜霏；睿胜投资：韩立；硅谷 | | | | 天堂：夏砚雯；明德资本：郑骁然。 | | | 时间 | 2026 年 3 月 20 日 | | | 公司接待人员 | 董 ...

编号：2026-001 | | □特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系活 | □媒体采访 | □业绩说明会 | | 动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □电话会议 | | | ☑券商策略会 | | | 参与单位名称 | 国信证券：李聪、石昆仑、殷浚喆；鑫元基金：费凡、季 | | | 及人员姓名 | 超。 | | | 时间 | 2026 年 3 月 11 日 | | | 公司接待人员 | 董事会秘书：吴亚光 | | | 姓名 | | | | | 一、公司基本情况介绍 | | | 投资者关系活 | 公司专注于军事智能相关产品研发和应用，致力谱写 | | | 动主要内容 | 国防未来新范式，围绕 XSim | ®军事智能体系，以军事大模型 | | 介绍 | 为底座，利用自研的智能仿真平台（XSimStudio | ®）、数字 | | | 战场（XSimWorld ®）、智能体（XSimAgent | ®）、数字兵力 | | | （XSimForce ®）、数实互联（XSimLink | ®）系列工具，面向 | | 智能决策、虚拟 ...

证券研究报告 行业研究 / 行业专题 2026 年 03 月 09 日 机械设备 一年内行业指数与沪深 300 指数对比走势： 资料来源：聚源数据，爱建证券研究所 相关研究 《全球人形机器人产业周报（一）：人形机器 人供应链海外产能布局加速推进》2026-03-02 《智能制造行业周报：存储扩产确定性提升， 持续推荐"两长"设备产业链》2026-02-09 《智能制造行业周报：SpaceX 申请百万颗卫 星，卫星互联网产业化提速》2026-02-02 《智能制造行业周报：SpaceX 推进星链升级与 IPO 进程》2026-01-26 《以第一性原理推演中国商业航天降本革命— —商业航天行业深度系列（一)》2026-01-21 王凯 S0820524120002 021-32229888-25522 wangkai526@ajzq.com 行业及产业 蓝箭航天动力系统实现突破 ——全球商业航天产业周报（一） 强于大市 投资要点： 商业航天指数：本周（2026/03/02–2026/03/06）商业航天指数（886078.TI）下跌 4.01%， 板块整体维持震荡格局。估值层面，指数 PE 环比降低 4.58% ...

Core Viewpoint - Huaru Technology's stock price has declined since its IPO, currently trading at 33.00 yuan, reflecting a drop of 1.76% and indicating a state of underperformance since its listing [1] Group 1: IPO Details - Huaru Technology was listed on the Shenzhen Stock Exchange's ChiNext board on June 23, 2022, with an issuance of 26.37 million shares at a price of 52.03 yuan per share [1] - The total funds raised from the IPO amounted to 1.372 billion yuan, with a net amount of 1.275 billion yuan, exceeding the original plan by 475.25 million yuan [1] - The company intended to use the raised funds for projects including a new generation of combat systems, multidisciplinary collaborative design and simulation testing platforms, a shared technology R&D center, and to supplement working capital [1] Group 2: Financials and Stock Performance - The total issuance costs for the IPO were 96.79 million yuan, with underwriting and sponsorship fees accounting for 82.32 million yuan [2] - On May 25, 2023, Huaru Technology announced a stock dividend of 5 shares for every 10 shares held, with a tax-free cash dividend of 0 yuan, effective from June 1, 2023 [2]

Summary of Key Points from Conference Call Industry Overview - The strongest sector in the market is the oil and gas industry, with multiple companies showing significant performance [1] - Key players in the oil and gas sector include: - Water Development Oil and Gas (3 boards) - Intercontinental Oil and Gas (2 boards) - Zhun Oil Co. (2 boards) - Sinopec Oilfield Services (2 boards) - China National Petroleum Corporation (2 boards) [1][1][1] Sector Analysis - **Oil and Gas**: - Major companies include Tongyuan Petroleum, Intercontinental Oil and Gas, Water Development Gas, Zhongman Petroleum, Zhun Oil Co., Sinopec Oilfield Services, Beiken Energy, Blue Flame Holdings, and China National Petroleum [1] - **Shipping**: - Key players are COSCO Shipping Energy Transportation, China Merchants Jinling Shipyard, Ningbo Shipping, China Merchants Industry, and Nanjing Port [1] - **Photovoltaic Energy Storage**: - Notable companies include Airo Energy, Deyue Co., Shouhang New Energy, GCL-Poly Energy, Oujing Technology, Goodwe, and Guosheng Technology [1] - **Optical Communication**: - Companies mentioned include Huasheng Chang, Huilv Ecology, Tongding Interconnection, Jufei Optoelectronics, Robotech, Tengjing Technology, Huagong Technology, and Yuanjie Technology [2] - **Coal Chemical**: - Key players are Jinniu Chemical, Luohua Technology, Chitianhua, Baofeng Energy, China Coal Energy, and Lutianhua [2] - **Gold**: - Companies include Xiaocheng Technology, Western Gold, and Mankalon [2] - **Agriculture**: - Notable companies are Yasheng Group, Qiule Seed Industry, Kangnong Seed Industry, Shennong Seed Industry, and Quanyin High-Tech [2] - **Electric Power**: - Specific companies were not detailed in the provided content [2] Additional Insights - The market shows a diverse range of sectors with significant activity, particularly in oil and gas, which is currently the strongest sector [1] - The presence of multiple companies across various sectors indicates a robust market environment with potential investment opportunities [1][2]

证券代码：301302 证券简称：华如科技 公告编号：2026-003 北京华如科技股份有限公司 北京华如科技股份有限公司（以下简称"公司"）股票(证券简称：华如科技， 股票代码：301302）连续两个交易日（2026 年 3 月 2 日、2026 年 3 月 3 日）收 盘价格涨幅偏离值累计超过 30%。根据《深圳证券交易所交易规则》的有关规定， 属于股票交易异常波动情形。 二、说明关注、核实情况 针对公司股票交易异常波动的情况，公司董事会通过通讯等方式对公司实际 控制人就相关事项进行了核实，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息。 3、公司近期经营情况及内外部经营环境未发生重大变化。 4、经核查，公司实际控制人不存在关于公司的应披露而未披露的重大事项， 也不存在处于筹划阶段的重大事项。 股票交易异常波动公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、股票交易异常波动的具体情况 3、公司郑重提醒广大投资者：《证券时报》《中国证 ...

Core Insights - The Chinese computer simulation industry is characterized by a competitive landscape with a low market concentration, indicating a high level of competition among numerous small enterprises [10]. Group 1: Industry Overview - The leading companies in the Chinese computer simulation industry include Aerospace Intelligent Equipment and Suochen Technology, with revenues exceeding 300 million yuan [2]. - Companies like Huali Chuangtong and Huaru Technology have revenues between 200 million and 300 million yuan, while firms such as Yongxin Zhicheng have revenues below 200 million yuan [2]. Group 2: Regional Distribution - The majority of computer simulation companies in China are concentrated in the southeastern coastal regions, particularly in Guangdong and Jiangsu, with over 2,000 companies in Guangdong and nearly 1,500 in Jiangsu as of November 29, 2025 [3]. Group 3: Competitive Landscape - In 2022, Jingwei Hengrun reported the highest revenue among the top 10 listed companies in the computer simulation sector, followed by Kangtuo Infrared with a revenue of 1.35 billion yuan [9]. - The industry is marked by a large number of small-scale enterprises primarily engaged in agency and system integration, leading to a very low concentration ratio (CR8) of only 0.87% [10]. Group 4: Technological Competition - As of November 29, 2025, Jingwei Hengrun leads in patent numbers with 858 invention patents and 794 authorized inventions, followed by Huali Chuangtong with 77 invention patents and 92 authorized inventions [14]. Group 5: Competitive Dynamics - The competitive environment in the computer simulation industry is intense due to a high number of existing competitors and low market concentration. Supplier bargaining power is weak, while consumer bargaining power is also low due to low product differentiation [17]. - The threat of new entrants is present as many multinational companies are entering the Chinese market through wholly-owned or joint ventures, or by seeking local agents [17].

Group 1 - Fuda Alloy's controlling shareholder Wang Dawu plans to reduce his stake by up to 3% of the company's total shares, amounting to a maximum of 406.34 million shares, due to personal funding needs [1] - ST Songfa's subsidiary signed contracts for the construction of 17 vessels, with a total contract value between 1.6 billion to 1.8 billion USD [2] - Pairui Co. signed a technical cooperation agreement with a university to develop large-capacity power semiconductor devices and related power electronic modules, effective for three years [3] Group 2 - Shuangliang Energy indirectly participates in commercial aerospace projects, supplying heat exchangers for SpaceX's fuel production system, with orders totaling approximately 1.39 million CNY [4] - Hangya Technology plans to issue convertible bonds to raise up to 600 million CNY for various projects, including an intelligent manufacturing base in Malaysia [5] - Yuhua Development is publicly selling assets with a base price of 251 million CNY for residential properties [6] Group 3 - Penghui Energy plans to invest 2.1 billion CNY in a new battery production project in Zhengyang County, Henan Province, focusing on high-performance battery products [7] - Haige Communication's shareholder Yang Haizhou intends to reduce his stake by up to 0.1624% of the company's total shares [8] - Yaoshi Technology's controlling shareholder pledged 5.13% of shares to repay loans, with a pledge period from February 10, 2026, to February 2, 2027 [9][10] Group 4 - Hanyu Pharmaceutical received FDA approval for its drug Acetate Glatiramer Injection, used for treating relapsing multiple sclerosis [11] - Baiyao Tai's GoliMab Injection received EMA approval for various indications, including rheumatoid arthritis and ulcerative colitis [12] - Jiangxi Tungsten Equipment plans to issue A-shares to raise up to 1.882 billion CNY for acquisitions [13] Group 5 - Hesong New Materials expects to recognize asset impairment provisions between 23.6 million to 28.5 million CNY for 2025 [14] - ST Meichen's subsidiary is involved in two major lawsuits with a total amount of approximately 31.9 million CNY [15] - China Coal Energy reported a 7.3% year-on-year decline in coal sales for January 2026, with total sales of 20.05 million tons [16] Group 6 - Yida Co. plans to adjust its epoxy propylene derivative project, reducing the total investment from 845 million CNY to 642 million CNY [17] - Fosun Pharma's subsidiary received approval for a clinical trial of HLX15-SC for multiple myeloma treatment [18][19] - Yinfeng Communication's board members and executives have terminated their share reduction plan [20] Group 7 - Huazhong High-tech has waived its preferential purchase rights for a fund, extending the investment period from three to four years [21] - Warner Pharmaceuticals plans to participate in a national drug procurement program, with expected sales of 176 million CNY [22] - Changling Hydraulic announced a tender offer to acquire 12% of its shares at a price of 35.82 CNY per share [23] Group 8 - ST Chuan Zhi's stock may face delisting due to financial data falling below regulatory thresholds [24] - Tian Pharmaceutical and its subsidiaries are participating in a national drug procurement program, with expected sales of 323 million CNY [25] - China Metallurgical Group signed new contracts worth 73.65 billion CNY in January 2026 [26] Group 9 - Torus plans to invest 21.2 million CNY in a venture capital fund focused on artificial intelligence [27] - Shangwei Co. received a government subsidy of 1.764 million CNY, representing 10.79% of its net profit for 2024 [28] - Hanghua Co. reported a 21.97% decline in net profit for 2025, with total revenue of 1.249 billion CNY [29] Group 10 - Huaxia Bank reported a 1.72% decline in net profit for 2025, with total revenue of 91.914 billion CNY [30] - Guotou Fengle plans to transfer 51% of its stake in Hubei Fengle Ecological Fertilizer to optimize management [31] - Huaru Technology is co-investing in a fund with a total commitment of 20 million CNY [32] Group 11 - Jindike reported a loss of 173 million CNY for 2025, despite a 40.13% increase in revenue [33] - Zhenong Co. announced a 0.52% increase in shares held by a major shareholder [34] - Maike Audi plans to recognize asset impairment provisions of approximately 52.55 million CNY [35] Group 12 - Fuan Pharmaceutical's subsidiary is expected to be selected for a national drug procurement program, with projected sales of 680 million CNY [36] - Rundu Co. is participating in a national drug procurement program, with some products expected to be selected [37] - Changqing Co. has postponed its large-scale die-casting project to March 2027 due to customer requirements [38] Group 13 - Pan Asia Micro透 received a patent for a graphene-based automotive headlight defogging device [39] - Luan An Huan Neng reported a 17.1% increase in raw coal production for January 2026, totaling 5 million tons [40] - Guangji Pharmaceutical received a drug registration certificate for Mecobalamin Tablets [41] Group 14 - Ruifeng New Materials announced the resignation of its deputy general manager for personal reasons [42] - Zhiguang Electric's subsidiary signed a procurement contract for energy storage equipment worth 210.4 million CNY [43] - Youyan Powder Materials reported a 19.41% increase in net profit for 2025 [44] Group 15 - Jincheng reported a 22.2% increase in net profit for 2025, with total revenue of 253 million CNY [46]

华如科技公告，公司与专业投资机构杭州科实股权投资有限公司及其他有限合伙人深圳产城创新发展研 究有限公司共同投资设立南京科实创业投资合伙企业(有限合伙)。认缴出资总额为5050万元，华如科技 以自有资金认缴出资2000万元，占认缴出资总额的39.60%。基金已于2025年12月5日完成工商注册手 续，并于2026年2月11日在中国证券投资基金业协会完成基金备案手续。 ...

证券代码：301302 证券简称：华如科技 公告编号：2026-002 北京华如科技股份有限公司 关于公司与投资机构共同投资设立基金的进展公告 北京华如科技股份有限公司（以下简称"公司"）于2025年11月25日召开第 五届董事会第十四次会议，以6票同意，0票反对，0票弃权的表决结果，审议通 过了《关于公司与投资机构共同投资设立基金的议案》。董事会同意在不影响公 司日常经营和发展、有效控制投资风险的前提下，公司作为有限合伙人与专业投 资机构杭州科实股权投资有限公司及其他有限合伙人深圳产城创新发展研究有 限公司共同投资设立南京科实创业投资合伙企业（有限合伙）并签署《南京科实 创业投资合伙企业（有限合伙）之合伙协议》。该合伙企业的认缴出资总额为人 民币5,050万元，其中公司拟以自有资金认缴出资2,000万元人民币，占认缴出资 总额的39.60%。具体内容详见公司于2025年11月25日在巨潮资讯网（http://www. cninfo.com.cn）披露的《关于公司与投资机构共同投资设立基金的公告》（公 告编号：2025-058）。 二、进展情况 1、2025年11月25日，公司与南京科实创业投资合伙企业（有限 ...