秦皇岛天秦装备制造股份有限公司 股东会议事规则 第一章 总则 第一条 为规范秦皇岛天秦装备制造股份有限公司（以下简称"公司"）行为， 保证股东会依法行使职权，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》《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》等法律、法规、规范性文件及《秦皇岛天秦装备 制造股份有限公司章程》（以下简称"《公司章程》"）的相关规定，制定本规则。 第二条 公司应当严格按照法律、行政法规、《公司章程》及本规则的相关规定 召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当勤 勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 公司在上述期限内不能召开股东会的，应当报告公司所在地中国证券监督管理 委员会（以下简称"中国证监会"）派出机构和深圳证券交易所（以下简称"深交 所"），说明原因并公告。 第五条 公司召开股东会，应当聘请律师对 ...

秦皇岛天秦装备制造股份有限公司 征集投票权实施细则 第一章 总则 第一条 为切实保护股东利益，促使广大股东积极参与公司管理，完善公司法 人治理结构，规范征集投票权行为，根据《中华人民共和国公司法》《上市公司章 程指引》《上市公司股东会规则》《公开征集上市公司股东权利管理暂行规定》等 法律、法规、规范性文件及《秦皇岛天秦装备制造股份有限公司章程》（以下简称 "《公司章程》"）的相关规定，制订本细则。 第二条 本细则所称征集投票权，是指本细则第四条第一款规定的主体公开请 求公司股东委托其代为出席股东会，并代为行使表决权等股东权利的行为。 下列行为不属于本细则所称公开征集的行为： （一）采用非公开方式获得公司股东委托； （二）未主动征集情况下受到公司股东委托； （三）法律、行政法规或中国证券监督管理委员会（以下简称"中国证监会"） 规定的其他情形。 第三条 征集投票权应当采用无偿的方式进行，禁止以有偿或者变相有偿的方 式公开征集股东权利。 第二章 享有征集投票权的主体 第四条 公司董事会、独立董事、持有 1%以上有表决权股份的股东或者依照法 律、行政法规或者中国证监会的规定设立的投资者保护机构，可以作为征集人，自 ...

秦皇岛天秦装备制造股份有限公司 关联交易决策制度 第一章 总则 第一条 为了规范秦皇岛天秦装备制造股份有限公司（以下简称"公司"）的 关联交易，确保公司的关联交易行为不损害公司和非关联股东的合法权益，根据《中 华人民共和国公司法》《深圳证券交易所创业板股票上市规则》（以下简称"《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》《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》 等法律、法规、规范性文件和《秦皇岛天秦装备制造股份有限公司章程》（以下简 称"《公司章程》"）等有关规定，制定本制度。 第二条 公司进行关联交易应当遵循以下基本原则： （一）诚实信用、平等、自愿、等价、有偿的原则； （二）公正、公平、公开的原则； （三）关联交易的价格原则上应不偏离市场独立第三方的价格或收费标准等交 易条件；公司应对关联交易的定价依据予以充分披露； （四）公司董事会审议关联交易事项时，关联董事应当回避表决，也不得代理 其他董事行使表决权； （五）公司股东会审议关联交易事项时，关联股东应当回避表决，并不得代理 其他股东行使表决权。 第三条 公司应当与关联方就关联 ...

秦皇岛天秦装备制造股份有限公司 独立董事工作制度 第一章 总则 第一条 为进一步完善秦皇岛天秦装备制造股份有限公司（以下简称"公司"） 的法人治理结构，促进公司规范运作，根据《中华人民共和国公司法》（以下简 称"《公司法》"）、《上市公司独立董事管理办法》（以下简称"《独立董事 管理办法》"）、《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》等相关法律、法规、 规范性文件及《秦皇岛天秦装备制造股份有限公司章程》（以下简称"《公司章 程》"）等有关规定，制定本制度。 第二条 本制度所指的独立董事，是指不在公司担任除董事外的其他职务， 并与公司及公司主要股东、实际控制人不存在直接或者间接利害关系，或者其他 可能影响其进行独立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人等单位或 者个人的影响。 第三条 公司独立董事占董事会成员的比例不得低于三分之一，且至少包括 一名会计专业人士。 公司在董事会中设置审计委员会。审计委员会成员应当为不在公司担任高级 管理人员的董事，其中独立董事应当过半数，并由独立董事中会计专业人士担任 ...

Investment Rating - The industry rating is "Outperform the Market" indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [57]. Core Insights - The report emphasizes the importance of national security and the goals set for the military by the 20th Central Committee, highlighting the need for modernization in defense and military capabilities [41][42]. - The report identifies significant growth opportunities in emerging industries such as aerospace, new energy, and low-altitude economy, which are expected to drive economic growth over the next decade [41][42]. - The military industry is anticipated to experience strong demand recovery from 2025 to 2026, supported by various catalysts including the "14th Five-Year Plan" and the "100-Year Military Goal" [42]. Summary by Sections 1. Industry Performance Review - The military industry index (801740) increased by 2.81% from October 20 to October 24, while the CSI 300 index rose by 3.24%, resulting in an underperformance of 0.43 percentage points [15][17]. - Since the beginning of 2025, the military index has risen by 16.47%, compared to an 18.44% increase in the CSI 300 index, indicating a relative underperformance of 1.98 percentage points [17]. 2. Market and Valuation - As of October 24, the military industry index has a TTM price-to-earnings ratio of 74.63, placing it in the 96.86 percentile, suggesting a high valuation relative to historical levels [42][27]. - The report notes a slight net outflow of passive funds, with expectations of a recovery in demand leading to a positive outlook for future fund inflows [42][27]. 3. Key Investment Opportunities - The report suggests focusing on specific companies within various segments of the military industry, including land equipment, stealth materials, deep-sea technology, engines, unmanned systems, AI, and nuclear fusion [44]. - Notable companies to watch include Tianqin Equipment, Gaode Infrared, and Aerospace Technology among others [44]. 4. Important News and Announcements - The report highlights recent successful launches in the aerospace sector, including the successful deployment of satellites by the Li Jian No. 1 rocket [45]. - It also discusses advancements in nuclear fusion technology and the establishment of new policies to support the low-altitude economy [46][49].

Market Overview - The ground equipment sector increased by 0.3% compared to the previous trading day, with North China Long Dragon leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - North China Long Dragon (301357) closed at 140.00, up 3.69% with a trading volume of 90,400 shares and a transaction value of 12.95 billion [1] - Other notable performers include: - Jieqiang Equipment (300875) at 44.73, up 2.17% [1] - Great Wall Military Industry (601606) at 48.95, up 1.87% [1] - Galaxy Electronics (002519) at 4.68, up 1.52% [1] - Tianzuo Equipment (300922) at 26.03, up 1.24% [1] Capital Flow - The ground equipment sector saw a net inflow of 45.6355 million from institutional investors, while retail investors experienced a net outflow of 180 million [2][3] - The main capital inflow and outflow for key stocks are as follows: - Great Wall Military Industry had a net inflow of 1.011 billion from main investors [3] - North China Long Dragon experienced a net outflow of 48.0689 million from retail investors [3] - Jieqiang Equipment saw a net inflow of 33.7377 million from main investors [3]

Market Overview - The ground equipment sector experienced a decline of 1.34% on October 22, with Jieqiang Equipment leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable stock performances included: - ST Emergency: Closed at 8.33, up 2.08% with a trading volume of 229,900 shares and a turnover of 191 million yuan [1] - Jieqiang Equipment: Closed at 43.78, down 5.28% with a trading volume of 59,200 shares and a turnover of 260 million yuan [2] - Changcheng Military Industry: Closed at 48.05, down 1.70% with a trading volume of 267,700 shares and a turnover of 1.29 billion yuan [2] Capital Flow - The ground equipment sector saw a net outflow of 479 million yuan from institutional investors and a net outflow of 102 million yuan from retail investors, while retail investors had a net inflow of 581 million yuan [2][3] - Specific stock capital flows included: - Jieqiang Equipment: Net outflow of 163.87 million yuan from institutional investors [3] - Zhongbing Hongjian: Net outflow of 74.01 million yuan from institutional investors [3] - Inner Mongolia First Machinery: Net outflow of 79.31 million yuan from institutional investors [3]

Market Overview - The ground armament sector increased by 0.6% compared to the previous trading day, with GanHua Science and Technology leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Notable stock performances in the ground armament sector include: - MuHua Science and Technology (000576) closed at 10.50, up 1.84% with a trading volume of 56,600 shares [1] - GuoKe Military Industry (688543) closed at 48.01, up 1.37% with a trading volume of 27,000 shares [1] - ChangCheng Military Industry (601606) closed at 48.88, up 1.18% with a trading volume of 400,100 shares [1] - ZhongBing HongJian (000519) closed at 19.42, up 0.26% with a trading volume of 758,900 shares [1] Capital Flow - The ground armament sector experienced a net outflow of 330 million yuan from institutional investors, while retail investors saw a net inflow of 344 million yuan [2] - The capital flow for specific stocks shows: - Galaxy Electronics (002519) had a net inflow of 5.63 million yuan from institutional investors [3] - TianZou Equipment (300922) had a net outflow of 2.94 million yuan from institutional investors [3] - Inner Mongolia First Machinery (600967) had a significant net outflow of 51.67 million yuan from institutional investors [3]

Market Overview - The ground weaponry sector increased by 0.61% compared to the previous trading day, with China North Industries Group Corporation (中兵红箭) leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - China North Industries Group Corporation (中兵红箭) saw a closing price of 19.37, with a rise of 6.02% and a trading volume of 755,300 shares [1] - Other notable performers included Tianzuo Equipment (天奏装备) with a closing price of 26.39, up 2.09%, and Beifang Navigation (北方导航) at 14.47, up 1.62% [1] - Conversely, Longhua Changkong (北方长龙) experienced a decline of 1.17%, closing at 142.12 [2] Capital Flow - The ground weaponry sector experienced a net outflow of 371 million yuan from institutional investors, while retail investors saw a net inflow of 455 million yuan [2][3] - The detailed capital flow indicated that China North Industries Group Corporation (中兵红箭) had a net inflow of 168 million yuan from institutional investors, despite a net outflow from retail investors [3] Individual Stock Analysis - China North Industries Group Corporation (中兵红箭) had a significant institutional net inflow of 168 million yuan, representing 11.72% of its total trading volume [3] - In contrast, North Mongolia One Machine (内蒙一机) faced a net outflow of 86.52 million yuan from institutional investors, with retail investors contributing a net inflow of 96.05 million yuan [3] - The overall trend showed that while institutional investors were pulling out, retail investors were actively buying into the sector [2][3]

Investment Rating - The industry rating is "Outperform the Market" [5][55]. Core Viewpoints - The report emphasizes the expectation of a favorable development in the military industry from Q4 2025 to 2026, driven by the upcoming 14th Five-Year Plan and the centenary goal of the military [4][39]. - The military industry is anticipated to experience significant growth in both domestic and foreign demand due to multiple catalysts, including the 14th Five-Year Plan and rapid military trade development [4][40]. Summary by Sections 1. Weekly Market Review - The military index (801740) fell by 4.61% from October 9 to October 17, while the CSI 300 index decreased by 2.73%, resulting in an underperformance of 1.88 percentage points [10][15]. - Since the beginning of 2025, the military index has increased by 13.28%, compared to a 14.72% rise in the CSI 300 index, leading to a relative underperformance of 1.44 percentage points [17]. 2. Key Investment Opportunities - Recommended stocks include: 1. Land Equipment: Tianqin Equipment, Gaode Infrared, LIGONG Navigation, Bai'ao Intelligent, Great Wall Military, and China Ordnance Red Arrow 2. Stealth Materials: Jiachitech and Huaqin Technology 3. Deep Sea: Western Materials and China Marine Defense 4. Engines: Hangyu Technology, Hangya Technology, and Tunan Co. 5. Drones & Anti-drone: Zongheng Co., Aerospace Rainbow, Ruike Laser, Sichuang Electronics, and Xinjinggang 6. AI Intelligence: Xingtuxinke and Aerospace Electronics 7. Aircraft: AVIC Shenyang Aircraft and AVIC Xi'an Aircraft 8. Nuclear Fusion: Lianchuang Optoelectronics, Hezhuan Intelligent, Guoguang Electric, Jingye Intelligent, Weiteng Electric, Xinfengguang, Xuguang Electronics, Aike Saibo, Parker New Materials, Yongding Co., Wangzi New Materials, and Hongwei Technology [4][40]. 3. Fund and Valuation Analysis - As of October 17, the military index's TTM P/E ratio is 73.81, with a percentile rank of 96.47%, indicating a high configuration value given the strong recovery expectations for 2025 [4][39][30]. - The report notes a decrease in the scale of passive funds but an increase in fund shares, with a net inflow of 1.391 billion yuan into military ETFs, suggesting continued confidence in the military sector [25][30].