国睿科技股份有限公司内部审计制度 （2025 年 12 月修订） 第一章 总则 第一条 为了加强内部审计工作，建立健全内部审计制度，提升内部审计工 作质量，充分发挥内部审计作用，促进公司内部各管理层行为的合法性、合规性， 为管理层正确决策提供可靠的信息和依据，保护投资者合法权益，不断提高企业 运营的效率及效果，依据《审计署关于内部审计工作的规定》、《中国内部审计 准则》、《上海证券交易所上市公司自律监管指引第1号——规范运作》等法律法 规及《公司章程》的规定，制定本制度。 第二条 本制度所称内部审计，是指公司内部纪检监察审计部门依据国家有 关法律法规、财务会计制度和公司内部管理规定，对公司及所属控股子公司财务 收支、经济活动、内部控制、风险管理实施独立、客观的监督、评价和建议，以 促进公司完善治理、实现目标的活动。 第三条 本制度所称内部控制，是指为了保证公司战略目标的实现，而对公 司战略制定和经营活动中存在的风险予以管理的相关制度安排，是公司董事会、 高级管理人员及其他有关人员为实现下列目标而提供合理保证的过程： （一）遵守国家法律、法规、规章及其他相关规定； （二）提高公司经营的效率和效果； 第四条 公司 ...

证券代码：600562 证券简称：国睿科技 公告编号：2025-035 国睿科技股份有限公司 第十届董事会第六次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2.本次会议的通知及会议资料在会议召开前送达全体董事。 3.本次会议由董事长郭际航女士召集，于 2025 年 12 月 19 日在南京市建邺 区江东中路 359 号公司会议室以现场结合通讯方式召开。 4.本次会议应出席董事 9 人，实际出席董事 9 人。 二、会议审议情况 1.审议通过了《关于对全资子公司南京国睿微波器件有限公司增资的议案》。 同意子公司南京国睿微波器件有限公司采用资本公积转增实收资本方式增 加注册资本 3,200 万元，增资完成后注册资本由 1,800 万元变更为 5,000 万元， 国睿科技持股仍为 100%。 议案表决结果为：同意 9 票，反对 0 票，弃权 0 票。 2.审议通过了《关于大额资金支付的议案》。 一、会议召开情况 根据《公司"三重一大"决策管理办法》及董事会授权文件，同意公司向子 公司南京国睿防务系统有限公司支付 20 ...

据中国电子信息博览会组委会秘书长陈雯海介绍，CITE2026将设立八大展区，系统呈现从智能终端、 人工智能、低空经济到半导体基础的全产业链创新。 中新网深圳12月16日电 (记者 索有为)记者从中国电子信息博览会组委会16日在深圳举行的新闻发布会 上获悉，第十四届中国电子信息博览会(CITE2026)将于2026年4月9日至11日在深圳会展中心(福田)举 办。展会以"新技术、新产品、新场景"为主题，推动科技创新与产业融合，促进中国电子信息产业高质 量发展。 CITE2026同期首次推出"人工智能赋能制造业规模化跃迁大会"，中国电子、中煤信息化以及大湾区各 央企与龙头企业将共探如何把"灯塔经验"系统重构为可复制的"星河生态"。 发布会现场还设置了小型展示区，集中呈现包括长城N90笔记本、越甲灵动机器狗、大象机器人与宠物 安抚机器人、HIXBOT吉他演奏机器人等在内的前沿科技产品。(完) 消费电子展区将展示折叠屏手机、AI手机、全屋智能、健康穿戴、新型支付终端等创新产品；具身智 能展区呈现人形机器人、机器狗、工业/服务机器人、AGV、机械臂及虚拟数字人等前沿成果；AI大模 型/智算中心展区聚焦算力基石，展示服务器 ...

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown significant market activity, with a turnover of 12.61% and a transaction volume of 76.73 million yuan, indicating strong investor interest [1] Group 1: ETF Performance - As of December 15, 2025, the aerospace ETF Tianhong (159241) reached a new high in scale at 606 million yuan, marking a significant increase in assets since its inception [1] - The ETF has seen a substantial increase in shares, with a growth of 64 million shares over the past week [1] - The CN5082 index, which the ETF tracks, rose by 1.32%, reaching a three-month high, with notable increases in constituent stocks such as Aerospace Electronics (600879) up 10.01% and Steel Research High-tech (300034) up 7.12% [1] Group 2: Fund Inflows - In the last five trading days, the aerospace ETF Tianhong (159241) experienced net inflows on three days, totaling 75.25 million yuan [2] - The ETF is recognized as a stable investment strategy, effectively combining military and satellite sectors, with a high concentration of 98.2% in defense and military industries [2] Group 3: Industry Developments - The successful maiden flight of the new high-altitude, long-endurance drone, Rainbow-7, marks a significant advancement in China's aerospace capabilities, entering the flight testing phase [2] - The Rainbow-7 drone is designed for high-altitude operations, capable of flying over 16,000 meters with a long endurance time, potentially carrying payloads of several tons in future upgrades [2] Group 4: Institutional Insights - Galaxy Securities projects that the military industry chain will benefit from a new procurement cycle starting in late 2025, with significant demand expected in military trade [3] - The defense spending is anticipated to maintain a growth rate of around 7% leading up to the centenary of the military in 2027, supporting sustained industry prosperity [3]

Core Insights - The report emphasizes the importance of "globalization and AI+" in advancing high-quality development in the defense and military industry, highlighting the need for modernization and efficiency improvements in military systems [5][30][34] - The investment strategy focuses on balancing value and growth, with traditional sectors entering an S-curve evolution phase while new demands and replacements coexist [5][30] Section Summaries 1. Current Development Stage from the S-Curve Perspective - The defense and military industry is in a growth phase, with traditional sectors experiencing rapid development during the previous five-year plan, but not yet entering a slowdown [16][26] - The S-curve model indicates that the industry lifecycle includes multiple product lifecycles, with the current focus on extending product lifespans through innovation [23][24] 2. S-Curve Cycle Expansion - Global military trade remains robust, emphasizing the importance of lifecycle management from equipment to services [9][18] - The report anticipates that the demand for large aircraft and low-altitude economic activities will accelerate due to supportive policies [9][28] 3. S-Curve Cycle Evolution - Supply chain reforms are crucial for reducing costs and complexity, enhancing the focus on maintenance and repair services [9][33] - The integration of unmanned systems and intelligent technologies is expected to drive significant advancements in military capabilities [9][51] 4. New Cycle of the S-Curve: Emerging Industries - The report identifies commercial aerospace, AI, controllable nuclear fusion, quantum information, and deep-sea technology as key areas for future growth [9][57][65] - The acceleration of technological advancements and policy support is expected to unlock new market opportunities in these sectors [9][58] 5. Investment Recommendations - The report recommends focusing on companies that align with the evolving S-curve, particularly those involved in supply chain reform, maintenance, and unmanned systems [5][30] - Specific companies highlighted for investment include 航发动力, 中航高科, and 国睿科技, among others, which are positioned to benefit from these trends [6][9]

Group 1 - The core conclusion of the report emphasizes the stable growth foundation of the defense industry, driven by continuous increases in national defense spending, with a budget of 1.78 trillion yuan for 2025, reflecting a year-on-year growth of 7.15% [32][38] - The report highlights the importance of the military aircraft industry chain as the main growth logic, with a focus on the generational upgrade of advanced fighter jets and breakthroughs in domestic aero-engine technology [84] - The report suggests that the military-civilian integration strategy will provide long-term alpha for military enterprises, transitioning from revenue expansion to high-quality development [82][84] Group 2 - The military industry outperformed the broader market, with the CITIC Military Industry Index yielding 16.6% as of November 30, 2025, surpassing the CSI 300 by 1.5 percentage points but lagging behind the ChiNext by 26% [11][15] - The report indicates that the military industry is currently ranked 16th out of 30 in terms of performance among CITIC's primary industry indices [15] - The report notes that the military industry’s valuation is at a high level, with a price-to-earnings ratio of 99.27, placing it in the 80th percentile historically over the past decade [21] Group 3 - The report identifies key areas of focus within the military sector, including infrared technology, laser weapons, and military trade, suggesting specific companies for investment [84] - The report discusses the increasing global military trade, particularly in aircraft, which is projected to account for 43.62% of the military trade market in 2024, with missiles and artillery also showing significant growth [79] - The report emphasizes the potential of laser weapons in counter-drone applications, highlighting their advantages such as high precision and low cost [69][70]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301306 | 西测测试 | 90.40 | 14.94% | 17.30万 | 15.27 乙 | | 002413 | 雷科防务 | 9.98 | 10.03% | 576.07万 | 54.75 Z | | 301517 | 陕西华达 | 67.85 | 6.88% | 23.28万 | 15.64亿 | | 600562 | 国睿科技 | 28.30 | 5.05% | 33.27万 | 9.32 G | | 001270 | *ST锭昌 | 64.28 | 5.00% | 1530.0 | 983.48万 | | 688011 | 新光光电 | 48.75 | 4.59% | 4.96万 | 2.42亿 | | 300762 | 上海剪讯 | 35.71 | 4.20% | 137.99万 | 48.75 Z | | 002179 | 中航光电 | 33.59 | 4.09% | 47.93万 | 16.00亿 | | 688081 | ...

航空航天ETF（159227）跟踪国证航天指数，成分股覆盖战斗机、运输机、直升机、航空发动机、导 弹、卫星、雷达等全产业链龙头，完美契合"空天一体"的战略方向。商业航天概念权重占比高达 58.5%。前十大重仓股中包含了航天发展、中国卫星、航天电子、中航机载、中航高科等行业龙头。 （文章来源：每日经济新闻） 近期商业航天催化不断，继朱雀三号发射成功后，12月份有望迎来长征十二号甲首飞，并同步尝试一级 火箭的垂直回收。 开源证券表示，伴随着太空算力建设需求拉动和可回收运载火箭技术逐步成熟，中国商业航天有望迎来 成本下降与发射能力双提升，产业或迎来快速增长拐点。建议关注卫星载荷、下游应用、商业火箭等板 块机会。 12月15日，A股三大指数继续走低，午后持续下行，商业航天板块表现活跃，截至14点37分，航空航天 ETF（159227）涨幅1.17%，成交额达2.79亿元，稳居同类第一，持仓股航天电子涨停，钢研高纳涨超 7%，国睿科技、航天彩虹、中国卫星、上海瀚讯等股跟涨。航空航天ETF最新规模达21.06亿元，位居 同类规模最大。 ...

Group 1 - The A-share market showed mixed performance after a low opening, with the Shanghai Composite Index briefly turning positive. High-end equipment concept stocks, such as Aerospace Electronics, saw significant gains, with some stocks hitting the daily limit and others rising over 5% [1] - The high-end equipment ETF (159638), which tracks the CSI High-end Equipment Sub-index, has seen a steady increase this year, attracting market attention. Data from Wind indicates that in the past six months (as of December 12), the ETF has experienced a net inflow of nearly 300 million yuan, with its latest scale exceeding 1.7 billion yuan [1] - The high-end equipment manufacturing industry is considered a foundation for strengthening the nation, playing a crucial role in accelerating the development of new productive forces and implementing the manufacturing power strategy. The 14th Five-Year Plan suggests fostering emerging industry clusters like the low-altitude economy and enhancing key core technology breakthroughs in critical fields [1] Group 2 - Some brokerages indicate that China is on the verge of a network formation similar to SpaceX from 2018 to 2020. With the G60 and GW National Grid entering a period of intensive launches, satellite manufacturing is transitioning from laboratory customization to automotive assembly line production [2] - Under the energy security strategy, China is continuously introducing policies to increase energy exploration efforts, which is expected to maintain strong capital expenditure in energy extraction. The deep-sea equipment manufacturing sector is likely to benefit from this trend [2] - The last pain point in industrial production is meeting customer customization needs at low cost, large scale, and timely manner. Humanoid robots, as carriers of artificial intelligence, are expected to integrate traditional production lines into various manufacturing processes, addressing the final mile of consumer personalization [2]

Core Viewpoint - The aerospace ETF Tianhong (159241) has seen significant trading activity and growth in assets, indicating strong investor interest in the aerospace sector, particularly in military and space applications [1][2]. Group 1: ETF Performance - As of December 15, 2025, the aerospace ETF Tianhong (159241) recorded a turnover of 4.55% with a transaction volume of 27.49 million yuan [1]. - The ETF's latest scale reached 604 million yuan, with a total of 494 million shares, both marking all-time highs since its inception [1]. - Over the past three days, the ETF has experienced continuous net inflows, with a peak single-day net inflow of 55.83 million yuan, totaling 83.82 million yuan [1]. Group 2: Industry Highlights - The aerospace ETF focuses on military aerospace capabilities, covering a full industry chain including fighter jets, transport aircraft, helicopters, engines, missiles, satellites, and radars, aligning with the "integrated aerospace" strategic direction [2]. - The successful launch of the Kuaizhou-11 Yao-8 rocket on December 13, 2025, successfully placed two satellites into orbit, marking the fourth flight of this rocket [3]. Group 3: Institutional Insights - According to Zhongtai Securities, China's commercial aerospace sector has transitioned from an exploratory phase to a growth phase, driven by policy support and technological advancements. The capacity for rocket launches and satellite production is expected to significantly increase during the 14th Five-Year Plan period [4]. - Breakthroughs in new rocket tests, such as the "Zhuque-3," and the initiation of space computing infrastructure construction are anticipated to accelerate the satellite internet constellation networking process, leading to a notable increase in industry demand [4].