Company Overview - The company, Zhonghang Shangda High-Temperature Alloy Materials Co., Ltd., is located in Qinghe County, Hebei Province, and was established on August 23, 2007. It was listed on October 16, 2024. The main business involves the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel products [1]. Financial Performance - As of November 3, the stock price of Shangda shares increased by 5.08%, reaching 33.10 CNY per share, with a trading volume of 100 million CNY and a turnover rate of 1.11%. The total market capitalization is 12.309 billion CNY [1]. - The revenue composition of the main business includes: high-temperature and high-performance alloys at 52.58%, high-quality special stainless steel at 44.22%, other products at 2.02%, and additional contributions at 1.17% [1]. Shareholder Information - Among the top ten circulating shareholders of Shangda shares, a fund under Guotai Fund holds a position. The Guotai Zhongzheng Military Industry ETF (512660) reduced its holdings by 115,300 shares in the third quarter, now holding 735,400 shares, which accounts for 0.99% of the circulating shares. The estimated floating profit today is approximately 1.1766 million CNY [2]. - The Guotai Zhongzheng Military Industry ETF (512660) was established on July 26, 2016, with a current scale of 14.109 billion CNY. Year-to-date returns are 15.55%, ranking 3202 out of 4216 in its category; the one-year return is 10.9%, ranking 3238 out of 3894; and since inception, the return is 20.37% [2].

Company Overview - Company was established on August 23, 2007, and is set to be listed on the Shenzhen Stock Exchange on October 16, 2024 [1] - It is a significant player in the domestic special alloy sector, focusing on the R&D, production, and sales of high-temperature and high-performance alloys [1] Business Performance - For Q3 2025, the company's revenue reached 1.805 billion, ranking 9th among 18 companies in the industry [2] - The net profit for the same period was 76.58 million, placing the company 7th in the industry [2] - The industry leader, Bo Wei Alloy, reported revenue of 15.474 billion and net profit of 881 million [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 50.71%, higher than the industry average of 43.99%, but improved from 61.31% in the previous year [3] - The gross profit margin was 11.41%, below the industry average of 15.62%, and decreased from 14.25% year-on-year [3] Executive Compensation - The chairman, Luan Donghai, received a salary of 1.2184 million in 2024, a decrease of 17,800 from 2023 [4] - The general manager, Gao Shengyong, earned 1.2553 million in 2024, down by 5,300 from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.12% to 25,500 [5] - The average number of circulating A-shares held per shareholder increased by 1.13% to 2,914.77 [5]

Market Overview - The metal new materials sector experienced a decline of 3.25% on October 31, with AnTai Technology leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Notable gainers in the metal new materials sector included: - Shenzhen New Star (603978) with a closing price of 26.55, up 4.53% on a trading volume of 260,000 shares and a turnover of 706 million yuan [1] - Youyan Powder Materials (688456) closed at 48.70, up 2.79% with a trading volume of 17,500 shares and a turnover of 85.36 million yuan [1] - Major decliners included: - AnTai Technology (000969) closed at 21.24, down 8.65% with a trading volume of 2,030,300 shares and a turnover of 440.3 million yuan [2] - Jinli Permanent Magnet (300748) closed at 39.18, down 6.87% with a trading volume of 792,000 shares and a turnover of 3.137 billion yuan [2] Capital Flow - The metal new materials sector saw a net outflow of 1.629 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.477 billion yuan [2] - The capital flow for specific stocks showed mixed results, with some stocks experiencing significant outflows from institutional and speculative investors [3]

Core Points - The company announced a board meeting scheduled for October 27, 2025, to review the proposal for cash management using idle fundraising [1] - The company plans to utilize up to 200 million yuan of temporarily idle fundraising for cash management, investing in low-risk, high-liquidity principal-protected products with a maximum term of 12 months [1] - The investment options include but are not limited to structured deposits, time deposits, large certificates of deposit, and agreed deposits [1] - The usage period for these funds will be valid for 12 months from the date of board approval, and the funds can be rolled over within the specified limit [1] - This decision will not affect the progress of fundraising investment projects or the company's normal production and operations [1]

证券代码：301522 证券简称：上大股份 公告编号：2025-040 中航上大高温合金材料股份有限公司 第二届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 经审议，董事会同意公司使用不超过人民币 20,000 万元（含本数）的部分 闲置募集资金进行现金管理，用于投资安全性高、流动性好、单项产品期限最长 不超过 12 个月的保本型产品，包括但不限于结构性存款、定期存款、大额存单、 协定存款等。有效期自公司董事会审议通过之日起十二个月内。上述额度在决议 有效期内可循环滚动使用。期限内任一时点的交易金额（含前述投资的收益进行 再投资的相关金额）不超过上述投资额度。闲置募集资金进行现金管理到期后的 本金及收益将及时归还至募集资金专户。同时，授权董事会或董事会授权人士在 额度范围和有效期限内行使决策权并签署现金管理业务相关法律文件，公司财务 部负责具体操作，授权有效期与上述现金管理期限一致。 保荐机构中国国际金融股份有限公司对该事项发表了同意的核查意见。 具体内容详见同日于巨潮资讯网（http://www.cnin ...

Group 1 - The core point of the article is that Shangda Co., Ltd. (SZ 301522) held its 11th meeting of the second board of directors on October 27, 2025, to review proposals including adjustments to the board's specialized committee members [1] - For the year 2024, the revenue composition of Shangda Co., Ltd. is 100% from the metal products industry [1] - As of the report date, the market capitalization of Shangda Co., Ltd. is 12.2 billion yuan [1] Group 2 - The article also mentions a controversial promotion by a company claiming to tokenize real estate overseas, with individuals reportedly receiving 1,500 yuan for recruiting one person and suggesting that an investment of 100,000 yuan could lead to becoming a billionaire [1]

中国国际金融股份有限公司（以下简称"保荐机构"）作为中航上大高温合 金材料股份有限公司（以下简称"上大股份"或"公司"）的保荐机构，根据《证 券发行上市保荐业务管理办法》《上市公司募集资金监管规则》《深圳证券交易所 创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业 板上市公司规范运作》及《深圳证券交易所上市公司自律监管指引第 13 号—— 保荐业务》等法律法规的有关规定，对上大股份本次使用暂时闲置募集资金进行 现金管理的事项进行了认真、审慎核查，具体情况如下： 一、募集资金概述 中国国际金融股份有限公司 关于中航上大高温合金材料股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 经中国证券监督管理委员会《关于同意中航上大高温合金材料股份有限公司 首次公开发行股票注册的批复》（证监许可[2024]925 号）同意注册，并经深圳证 券交易所同意，公司首次公开发行人民币普通股（A 股）92,966,667 股，每股面 值为人民币 1.00 元，发行价格为人民币 6.88 元/股，本次发行募集资金总额为人 民币 63,961.07 万元，扣除发行费用（不含增值税）9,110.74 万元 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥594,018,002.68, representing a year-on-year increase of 1.15%[5] - The net profit attributable to shareholders decreased by 49.42% to ¥16,782,107.48 in Q3 2025, and by 38.60% to ¥76,580,119.07 for the year-to-date[5] - Basic earnings per share fell by 62.10% to ¥0.0451 for Q3 2025, and by 53.96% to ¥0.2059 year-to-date[5] - Total revenue for the current period is ¥1,805,429,460.65, a decrease of 4.1% from ¥1,882,687,374.85 in the previous period[25] - Net profit for the current period is ¥76,580,119.07, a decline of 38.6% compared to ¥124,716,697.91 in the previous period[26] - Basic earnings per share for the current period is ¥0.2059, down from ¥0.4472 in the previous period[26] - The diluted earnings per share decreased to 0.2059 from 0.4472[27] Cash Flow and Assets - The net cash flow from operating activities was -¥89,917,772.23, a decline of 232.52% compared to the previous year[9] - Cash flow from operating activities showed a net outflow of 89,917,772.23 yuan compared to a net inflow of 67,850,526.03 yuan in the previous period[29] - Total current assets decreased to ¥2,545,687,589.08 from ¥2,628,185,271.65, a reduction of 3.1%[22] - Total non-current assets increased to ¥1,293,145,573.96 from ¥1,071,402,748.14, an increase of 20.7%[23] - Cash and cash equivalents decreased significantly from ¥671,033,413.23 to ¥352,686,230.74, a decline of 47.5%[22] - The net increase in cash and cash equivalents was -316,268,019.17 yuan, contrasting with a positive increase of 4,725,899.09 yuan last year[30] - The total cash and cash equivalents at the end of the period stood at 170,856,135.20 yuan, down from 100,917,233.43 yuan in the previous year[30] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,516[11] - The top shareholder, Luan Donghai, holds 15.13% of the shares, totaling 56,250,000 shares[11] - The company’s major shareholders include Zhang Xinwei with 1,039,515 shares and China Construction Bank with 735,400 shares[12] - The company’s strategic allocation plans include significant holdings by related parties, with 18.13% and 20.72% shares held in specific asset management plans[12] Operational Developments - The company reported a decrease in gross margin for high-quality special stainless steel, contributing to the decline in net profit[9] - The company has made significant breakthroughs in high-end equipment manufacturing, particularly in aerospace, gas turbines, and nuclear engineering[20] - The company successfully developed new materials and delivered them to downstream customers, marking a milestone in high-end new material product R&D[20] - The company is actively expanding its international business market, focusing on controllable nuclear fusion and semiconductor sectors[20] - The company is committed to long-term development in high-end fields, which is crucial for its market significance[20] - The company has established a solid foundation for future growth through its advancements in high-end materials and international market expansion[20] Financial Structure - The total assets at the end of Q3 2025 were ¥3,838,833,163.04, an increase of 3.76% from the end of the previous year[5] - Total liabilities increased to ¥1,946,860,507.09 from ¥1,840,959,816.91, an increase of 5.7%[24] - Total equity attributable to shareholders increased to ¥1,891,972,655.95 from ¥1,858,628,202.88, an increase of 1.8%[24] Changes in Management - The company’s board of directors underwent changes, with Liu Jingyu elected as a new director following the retirement of Sun Jibing[17] Government Support - Government subsidies recognized in Q3 2025 amounted to ¥7,088,019.68, with a total of ¥23,011,763.68 year-to-date[6] Other Financial Metrics - Total operating costs for the current period are ¥1,745,154,420.54, down 1.6% from ¥1,773,082,455.57 in the previous period[25] - Accounts receivable increased to ¥771,879,120.26 from ¥608,984,554.68, an increase of 26.7%[22] - Payments for purchasing goods and services increased to 1,700,661,294.31 yuan from 1,532,218,589.93 yuan in the previous period[29] - Payments to employees rose to 113,140,248.15 yuan, compared to 104,066,542.39 yuan last year[29] Audit Information - The company did not undergo an audit for the third quarter financial report[31]

关于使用部分闲置募集资金进行现金管理的公告 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。 重要内容提示： 证券代码：301522 证券简称：上大股份 公告编号：2025-041 中航上大高温合金材料股份有限公司 1、投资种类：现金管理品种为商业银行、证券公司及其他正规金融机构发 行的安全性高、流动性好、单项产品期限最长不超过 12 个月的保本型产品，包 括但不限于结构性存款、定期存款、大额存单、协定存款等； 2、投资金额：不超过人民币 20,000 万元； 3、特别风险提示：上述投资产品主要受货币政策等宏观经济政策的影响。 公司将根据经济形势以及金融市场的变化适时适量地介入，但不排除该项投资受 到市场波动的影响。 中航上大高温合金材料股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开第二届董事会第六次会议和第二届监事会第三次会议，分别审议通 过了《关于使用部分闲置募集资金进行现金管理的议案》，同意公司在不影响募 集资金投资计划正常进行的前提下，对部分闲置募集资金进行现金管理，投资金 额不超过人民币 35,000 万元，有效期自公司董事会 ...

Group 1 - The core viewpoint of the news is that Shangda Co., Ltd. has seen a significant stock price increase of 5.2%, reaching 32.99 yuan per share, with a total market capitalization of 12.268 billion yuan [1] - Shangda Co., Ltd. specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel, with revenue contributions of 52.58% from high-temperature alloys, 44.22% from special stainless steel, and 2.02% from other products [1] - The company was established on August 23, 2007, and was listed on October 16, 2024 [1] Group 2 - Guotai Fund's Guotai Zhongzheng Military Industry ETF (512660) has entered the top ten circulating shareholders of Shangda Co., Ltd., holding 850,700 shares, which is 1.14% of the circulating shares [2] - The ETF has a total scale of 15.601 billion yuan and has achieved a year-to-date return of 14.79% [2] - The ETF's performance ranks 3,234 out of 4,218 in its category this year and 3,146 out of 3,869 over the past year [2] Group 3 - The fund manager of Guotai Zhongzheng Military Industry ETF is Ai Xiaojun, who has a tenure of 11 years and 286 days [3] - Under Ai Xiaojun's management, the fund has achieved a best return of 275.94% and a worst return of -46.54% [3]