二、董事会会议审议情况 证券代码：301306 证券简称：西测测试 公告编号：2025-055 西安西测测试技术股份有限公司 第二届董事会第二十八次会议决议公告 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。 一、董事会会议召开情况 西安西测测试技术股份有限公司（以下简称"公司"）第二届董事会第二十 八次会议（以下简称"本次会议"）通知于 2025 年 11 月 10 日以邮件、电话等 方式送达公司全体董事，会议于 2025 年 11 月 14 日以现场结合通讯方式在公司 会议室召开。本次会议应出席董事 9 人，实际出席董事 9 人，其中董事长李泽新 先生、董事王乾先生、曾柯先生、何军红先生以通讯方式出席。本次会议符合召 开董事会会议的法定人数。本次会议由董事长李泽新先生召集并主持。 本次会议的召集、召开符合《中华人民共和国公司法》等法律法规、规范性 文件和《公司章程》的有关规定，会议合法有效。 表决结果：赞成票 9 票，反对票 0 票，弃权票 0 票。 三、备查文件 1、审议通过《关于放弃参股公司股权转让优先购买权暨关联交易的议案》 经审议，董事会认为：本次 ...

Core Insights - The Chinese commercial aerospace sector is experiencing a golden opportunity for development due to policy encouragement and capital support, but reliability and safety in manufacturing have become critical issues for sustainable growth [1][6] - Xicetest (301306), originally focused on inspection and testing, is transitioning to become a "super OEM" for commercial aerospace, aiming to address manufacturing efficiency, quality consistency, and cost control challenges in the industry [1][8] Company Overview - Xicetest was established in 2010 and specializes in third-party inspection and testing services for military and civilian aircraft products, offering a range of services including environmental and reliability testing, electronic component screening, and electromagnetic compatibility testing [3] - The company is expanding its operations across China, with significant laboratory construction in cities like Xi'an, Chengdu, Beijing, and Wuhan, aiming to enhance its service density and broaden its business scope [3] Business Transformation - Following its listing on the ChiNext board in July 2022, Xicetest's business structure is rapidly changing; inspection and testing services, which accounted for 94.43% of revenue in 2020, are projected to drop to 61.85% by 2024, while electronic assembly services are expected to rise to 37.03% [4] - The explosive growth of the electronic assembly business is laying the foundation for Xicetest's development in commercial aerospace manufacturing [4] Strategic Initiatives - In June 2023, Xicetest announced plans to create a comprehensive service chain that integrates electronic assembly, component screening, environmental testing, and electromagnetic compatibility testing, enhancing its service capabilities from component to system level [5] - The concept of a "commercial aerospace super OEM" was introduced in a strategic partnership with Xingyilianxin, aiming to create a closed-loop service for commercial aerospace that includes component screening, large-scale production, and full-process testing [5] Market Context - The high-end manufacturing capabilities in China's commercial aerospace are primarily held by state-owned enterprises, making it challenging for private companies to establish themselves as super OEMs [6] - The commercial aerospace sector is rapidly growing, driven by national policies encouraging private investment and the increasing demand for satellite internet infrastructure and low-altitude economy [7] Competitive Advantages - Xicetest claims to possess five key capabilities necessary for participating in commercial aerospace manufacturing: reliable supply chain management, scalable production capabilities, professional testing experience, fault diagnosis and problem rectification abilities, and comprehensive industry certifications [6] - The integration of inspection and manufacturing services is expected to enhance production efficiency, reduce costs by 30%, shorten delivery cycles by 50%, and achieve a 100% first-time delivery pass rate [8] Future Outlook - As the commercial aerospace market continues to grow, Xicetest's super OEM business is expected to scale up, positioning the company to better control production rhythms and improve competitive advantages [9]

Market Overview - The military electronics sector experienced a decline of 0.48% on November 5, with *ST WanFang leading the drop [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Stock Performance - Notable gainers in the military electronics sector included: - Xicetest (301306) with a closing price of 59.71, up 1.98% [1] - Gaoling Information (688175) at 25.46, up 1.80% [1] - Hualichuangtong (300045) at 23.80, up 1.80% with a trading volume of 407,900 shares and a transaction value of 972 million [1] - Major decliners included: - *ST WanFang (000638) at 7.51, down 4.94% with a trading volume of 17,100 shares and a transaction value of 12.86 million [2] - Jingpin Special Equipment (688084) at 85.18, down 4.24% [2] Capital Flow - The military electronics sector saw a net outflow of 710 million from institutional investors, while retail investors contributed a net inflow of 551 million [2] - Specific stock capital flows included: - Hualichuangtong (300045) with a net inflow of 24.82 million from institutional investors [3] - Huojuzhihui (603678) with a net inflow of 21.01 million from institutional investors [3] - Zhongguangxue (002189) with a net inflow of 7.94 million from retail investors [3]

Core Insights - The commercial aerospace sector in the A-share market has seen a collective surge, with several stocks reaching significant gains, indicating strong investor interest and market momentum [1][2]. Stock Performance - Aerospace Intelligent Equipment (航天智装) experienced a limit-up increase of 20%, with a total market capitalization of 17.6 billion and a year-to-date gain of 89.65% [2]. - Wanlong Optoelectronics (万隆光电) rose by 16.06%, with a market cap of 2.473 billion and a year-to-date increase of 39.19% [2]. - Shanghai Aerospace (上大股份) saw an increase of over 10%, with a market cap of 12.9 billion and a year-to-date decline of 4.64% [2]. - Aerospace Science and Technology (航天科技) also increased by 10.02%, with a market cap of 16.7 billion and a year-to-date gain of 91.25% [2]. - Shanghai Port Bay (上海港湾) rose by 10.01%, with a market cap of 8.115 billion and a year-to-date increase of 48.81% [2]. - Other notable performers include Fujida (富士达) up by 7.34%, Holiwo (霍莱沃) up by 7.06%, and Shanghai Huguang (上海沪工) up by 6.94% [2]. Upcoming Missions - The China Manned Space Engineering Office announced plans for four flight missions in the coming year, including the launch of the Tianzhou 10 cargo spacecraft and the Shenzhou 22 and 23 manned spacecraft, as well as the Mengzhou 1 manned spacecraft [1]. - The Shenzhou 22 and 23 missions will be launched from the Jiuquan Satellite Launch Center, each with a crew of three astronauts, with Shenzhou 22 featuring one astronaut conducting a long-term stay experiment of over one year [1].

Core Viewpoint - The A-share market saw a significant rise in storage chip stocks on November 3, with several companies experiencing notable gains in their stock prices [1] Group 1: Stock Performance - Aerospace Intelligence (航天智装) reached a 20% limit up, with a market capitalization of 17.6 billion and a year-to-date increase of 89.65% [2] - Pulang Co. (普朗股份) increased by 10.10%, with a total market value of 20.9 billion and a year-to-date rise of 95.83% [2] - Shannon Chip Creation (香农芯创) rose by 7.30%, boasting a market cap of 65.9 billion and an impressive year-to-date growth of 400.17% [2] - Taiji Industry (太极实业) saw a 7.27% increase, with a market value of 19.5 billion and a year-to-date increase of 36.35% [2] - Jiangbolong (江波龙) gained 5.80%, with a market capitalization of 115.9 billion and a year-to-date rise of 221.48% [2] - Xicet Testing (西测测试) increased by 5.26%, with a market cap of 5.224 billion and a year-to-date growth of 65.61% [2] - Shangle Electronics (商络电子) rose by 4.79%, with a market value of 9.92 billion and a year-to-date increase of 28.47% [2] - Chengbang Co. (诚邦股份) increased by 4.59%, with a market capitalization of 3.671 billion and a year-to-date rise of 195.53% [2] - Zhaoyi Innovation (兆易创新) saw a 4.25% increase, with a market cap of 153 billion and a year-to-date growth of 115.36% [2] - Jingzhida (精智达) rose by 3.77%, with a market value of 1.68 billion and a year-to-date increase of 145.71% [2] - Dagang Co. (大港股份) increased by 3.29%, with a market capitalization of 10.2 billion and a year-to-date rise of 19.77% [2] - Baiwei Storage (佰维存储) saw a 3.05% increase, with a market cap of 63 billion and a year-to-date growth of 117.85% [2]

Core Viewpoint - The A-share market saw a significant rise in storage chip stocks in the afternoon session, indicating positive market sentiment towards this sector [1] Group 1: Stock Performance - Aerospace Zhizhuang reached a 20% limit up, indicating strong investor interest [1] - Puran shares increased by over 10%, reflecting robust demand [1] - Shannon Chip Innovation and Taiji Industry both rose by over 7%, showcasing positive momentum [1] - Jiangbolong and West Test both saw increases of over 5%, indicating a broad-based rally [1] - Shangle Electronics, Chengbang Shares, and Zhaoyi Innovation all rose by over 4%, further highlighting the strength in the storage chip sector [1]

Core Insights - Xi'an Xicetest Technology Co., Ltd. has signed a strategic cooperation agreement with Beijing Xingyi Lianxin Technology Development Co., Ltd. to enhance the development of China's commercial aerospace industry [1][2] - Xingyi Lianxin is the first domestic company focused on low Earth orbit satellite communication payload system design and core payload product development, leveraging its core capabilities and experience in national satellite internet construction [1] - Xicetest has established itself as a "super OEM for commercial satellite payloads," providing comprehensive testing services and maintaining a strong supply chain and industry certifications [2] Company Overview - Xicetest has been dedicated to testing and inspection services since its establishment, with capabilities in thermal vacuum, vacuum discharge, Mars environment low-pressure simulation, cryogenic testing, and satellite payload testing [2] - The company has successfully completed multiple major aerospace engineering inspection and testing tasks, showcasing its expertise in the field [2] - Xicetest's strategy, termed "4+1+1," emphasizes investment in the commercial aerospace sector, focusing on safety, scalability, professional testing, fault diagnosis, and comprehensive industry certifications [2] Industry Trends - The cooperation between Xicetest and Xingyi Lianxin aligns with the growing trends in the commercial aerospace industry, presenting new opportunities for both companies [2] - The partnership aims to deepen collaboration and expand areas of cooperation, contributing to the robust development of China's commercial aerospace sector [2]

Core Insights - West Test (西测测试) and Beijing Xingyi Lianxin Technology Development Co., Ltd. (星移联信) have signed a strategic cooperation agreement to promote the development of the commercial aerospace industry in China [1][4] Company Overview - Xingyi Lianxin is the first domestic commercial aerospace company focusing on low Earth orbit satellite communication payload system design and core payload product development, leveraging its core capabilities in satellite communication system deployment and experience in national satellite internet construction [3] - West Test has been deeply engaged in testing and inspection services since its establishment, offering a wide range of testing capabilities including thermal vacuum, vacuum discharge, Mars environment low-pressure simulation, cryogenic testing, and satellite payload testing [3] - West Test has successfully completed multiple major aerospace engineering inspection and testing tasks and operates as a "super foundry for commercial satellite payloads," emphasizing a secure component supply chain, large-scale production, professional inspection and testing, fault diagnosis, and comprehensive industry certifications [3] Strategic Cooperation - The cooperation between West Test and Xingyi Lianxin is a significant step in line with the trends in the commercial aerospace industry, expected to bring new opportunities for both parties [4] - The two companies aim to deepen their collaboration and expand their cooperation areas to contribute to the robust development of China's commercial aerospace industry [4]

Core Points - Xian Xice Testing Technology Co., Ltd. experienced a stock price increase of 5.01%, reaching 59.56 CNY per share, with a trading volume of 282 million CNY and a turnover rate of 8.48%, resulting in a total market capitalization of 5.027 billion CNY [1] - The company, established on June 1, 2010, and listed on July 26, 2022, specializes in inspection and testing services for military equipment and civil aircraft products, including environmental and reliability testing, electronic component testing, and electromagnetic compatibility testing [1] - The revenue composition of the company includes: environmental and reliability testing (49.49%), electronic assembly business (29.38%), electromagnetic compatibility testing (10.81%), electronic component testing (8.18%), testing equipment sales (1.88%), and others (0.26%) [1] Shareholder Insights - Changcheng Fund has a fund, Changcheng Jiujia Innovation Growth Mixed A (004666), which entered the top ten circulating shareholders of Xice Testing, holding 1.2 million shares, representing 2.06% of the circulating shares, with an estimated floating profit of approximately 3.408 million CNY [2] - The fund was established on July 5, 2017, with a latest scale of 1.974 billion CNY, achieving a year-to-date return of 30.92% and a one-year return of 29.83%, ranking 3050 out of 8154 and 2985 out of 8046 respectively [2] Fund Management - The fund manager of Changcheng Jiujia Innovation Growth Mixed A is You Guoliang, who has been in the position for 6 years and 10 days, managing a total fund size of 4.262 billion CNY, with the best fund return during his tenure being 136.05% and the worst being -15.93% [3]

Core Insights - The event "Scientists Meet Investors" aims to bridge the gap between scientific innovation and investment, fostering a more efficient innovation ecosystem in Shaanxi [2][3] - The integration of scientists and investors is seen as crucial for transforming technological achievements into marketable products, emphasizing the importance of collaboration in the innovation chain [2][3] Group 1: Event Overview - The event was co-hosted by Shaanxi Keke Investment Fund, Xi'an Jiaotong University National Technology Transfer Center, and 21st Century Economic Report, with over 70 representatives from universities, venture capital, financial institutions, and tech companies participating [1] - The theme of the event was "Integration, Co-creation, New Momentum," focusing on exploring solutions for the challenges of technology transfer in Shaanxi [1] Group 2: Key Themes and Discussions - The event highlighted the importance of "early, small, and tech-focused" investments in the venture capital industry, with a shift towards investing in the source of technological innovation [2] - A significant statistic shared was that in 2024, 62 key universities in Shaanxi signed 23,000 technology contracts, with a total contract value of 9.7 billion yuan, showcasing the region's potential for technology transfer [2] Group 3: Presentations and Insights - Professor Ding Ning from Xi'an Jiaotong University discussed the development and challenges of large models in AI, emphasizing their broad applications and key challenges such as cost and computational power [3] - Yang Xiangyu from China Merchants Bank presented strategies for the banking sector to focus on technology finance as a means of overcoming challenges posed by narrowing net interest margins [3] Group 4: Dialogue Mechanism - The event featured a multi-layered dialogue mechanism, with discussions on the role of government-guided funds and market-oriented capital in investment mechanisms, risk-sharing, and balancing policy guidance with commercial returns [4][5] - The second round of discussions focused on practical experiences of market-oriented funds, sharing insights on identifying investment opportunities and planning commercialization paths [5] Group 5: Future Directions - The ambition of the event is to create a sustainable ecosystem for technology transfer in Shaanxi, contributing to the construction of an innovative highland in the western region of China [6] - The series of "Scientists Meet Investors" events will continue, aiming to build a bridge between scientific achievements and investment capital [6]