影响经营业绩的主要因素：报告期内公司业绩较上年同期下降主要系本年城市道路交通管理领域收入规 模较去年同期下降较多所致；此外受本年利息收入、其他收益及投资收益同比减少的影响，公司净利润 下降较多。 格隆汇2月13日丨莱斯信息(688631.SH)公布2025年度业绩快报，2025年，公司实现营业总收入12.74亿 元，较上年同期下降20.89%；实现归属于母公司所有者的净利润5,523.29万元，较上年同期下降 57.20%；实现归属于母公司所有者的扣除非经常性损益的净利润4,612.12万元，较上年同期下降 56.61%；实现基本每股收益0.34元，较上年同期下降56.96%；实现加权平均净资产收益率2.87%，较上 年同期下降3.92个百分点。 ...

莱斯信息2月13日发布的2025年度业绩快报显示，公司报告期内实现营业总收入12.74亿元，同比下降 20.89%；归属于上市公司股东的净利润5523.29万元，同比下降57.20%；基本每股收益0.34元。 ...

证券代码：688631 证券简称：莱斯信息 公告编号：2026-002 南京莱斯信息技术股份有限公司 2025 年度业绩快报公告 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、准确性和完整性依法承担法律责任。 本公告所载 2025 年度主要财务数据为初步核算数据，未经会计师事务所审 计，具体数据以南京莱斯信息技术股份有限公司（以下简称"公司"）2025 年年 度报告为准，提请投资者注意投资风险。 一、2025 年度主要财务数据和指标 单位：人民币元 | 项目 | 本报告期 | 上年同期 | 增减变动幅 | | --- | --- | --- | --- | | | | | 度（％） | | 营业总收入 | 1,273,532,872.02 | 1,609,829,935.51 | -20.89 | | 营业利润 | 43,134,559.73 | 133,395,154.20 | -67.66 | | 利润总额 | 43,542,218.26 | 133,530,095.45 | -67.39 | | 归属于母公司所有 者的净利润 | 55,232,87 ...

智通财经APP讯，莱斯信息(688631.SH)披露2025年度业绩快报，2025年，公司实现营业总收入12.74亿 元，同比下降20.89%;实现归属于母公司所有者的净利润5523.29万元，同比下降57.20%。 报告期内公司业绩较上年同期下降主要系本年城市道路交通管理领域收入规模较去年同期下降较多所 致;此外受本年利息收入、其他收益及投资收益同比减少的影响，公司净利润下降较多。 ...

莱斯信息(688631.SH)披露2025年度业绩快报，2025年，公司实现营业总收入12.74亿元，同比下降 20.89%;实现归属于母公司所有者的净利润5523.29万元，同比下降57.20%。 报告期内公司业绩较上年同期下降主要系本年城市道路交通管理领域收入规模较去年同期下降较多所 致;此外受本年利息收入、其他收益及投资收益同比减少的影响，公司净利润下降较多。 ...

莱斯信息公告称，2025年实现营业总收入12.74亿元，同比下降20.89%；营业利润4313.46万元，同比降 67.66%；利润总额4354.22万元，同比降67.39%；归母净利润5523.29万元，同比降57.20%。基本每股收 益0.34元，同比降56.96%；加权平均净资产收益率2.87%，同比降3.92个百分点。2025年末，总资产 35.58亿元，较期初减少6.40%；归母所有者权益19.17亿元，较期初降0.53%。业绩下降主因城市道路交 通管理领域收入规模下降及利息等收益减少。 ...

Investment Rating - The report maintains an "Outperform" rating for the industry, indicating a positive outlook compared to the broader market [3]. Core Insights - The low-altitude economy is poised for significant growth, supported by recent policy initiatives aimed at enhancing communication and navigation infrastructure [6][9]. - The report highlights the importance of integrating new technologies such as AI and big data into the low-altitude industry, which is expected to improve operational efficiency and safety [6][9]. - The government aims for a 90% coverage of ground mobile communication networks for low-altitude public air routes by 2027, indicating strong future demand for related technologies and services [6]. Summary by Sections Policy Developments - Multiple policies have been introduced since 2026 to support the low-altitude economy, including guidelines for establishing a standard system and enhancing infrastructure [8][10]. - The Shanghai and Shenzhen governments have set ambitious targets for the low-altitude economy, including a projected industry scale of 80 billion yuan by 2028 [8][10]. Investment Opportunities - Key companies to watch include: - **Suzhou Planning**: Plans to acquire Dongjin Aviation Technology, which specializes in air traffic management systems [14][16]. - **Brilliant Technology**: Engaged in eVTOL certification processes and has a strong order backlog, indicating robust growth potential [20][22]. - **Deep City Transportation**: Focused on low-altitude design consulting and infrastructure, with projects across multiple cities [24][26]. Market Trends - The number of registered drones in China is expected to reach 2.177 million by 2024, reflecting a 71.8% year-on-year increase, which underscores the rapid growth of the low-altitude sector [10][11]. - The number of general airports has increased to 475, indicating a growing infrastructure to support the low-altitude economy [12].

Group 1: Development Goals and Framework - The State-owned Assets Supervision and Administration Commission (SASAC) has set the annual development goals centered on "two guarantees and two strives" for 2026, marking a shift towards quality and efficiency in state-owned enterprises (SOEs) [4] - The total assets of central enterprises have surpassed 95 trillion yuan, with R&D investment exceeding 1 trillion yuan for four consecutive years, indicating a focus on quality-driven growth [8] - The framework aims to guide state capital towards strategic security, public welfare, and emerging industries, providing a clear action plan for reform and development [4] Group 2: Industry Integration and Collaboration - In 2025, the restructuring of central enterprises will follow a dual-track approach, focusing on strategic formation of new central enterprises and multi-field professional integration [13] - The establishment of new central enterprises, such as China Yajiang Group and China Chang'an Automobile Group, aims to serve national macro strategies and enhance industry collaboration [14] - A total of 17 units signed agreements in key areas like artificial intelligence and new materials, creating a multi-party collaborative model involving central enterprises, private enterprises, and local governments [16] Group 3: Capital Investment and Fund Management - The total scale of the China Chengtong fund system reached 710 billion yuan, with 97.99% allocated to strategic emerging industries, demonstrating a strong focus on high-tech sectors [18] - The National Investment Group manages 61 funds with a total scale of 345.1 billion yuan, having invested in 1,249 projects and facilitated 293 companies going public [20] - The investment strategy emphasizes long-term support for innovative enterprises, with over two-thirds of funds directed towards private enterprises [20] Group 4: Resource Integration and Security - Central enterprises are undergoing intensive integration in key mineral sectors, such as iron ore and rare earths, to enhance resource control and pricing power [24] - The integration aims to create a closed-loop industry chain, improving domestic supply security and reducing reliance on imports [25] - This strategic move is seen as a vital step in ensuring national resource security and enhancing the global influence of China's mineral resources [24]

Investment Rating - The report rates the low-altitude economy industry as "Outperform the Market" [1] Core Insights - The low-altitude economy is defined as a comprehensive economic form driven by low-altitude aviation activities, encompassing four main sectors: low-altitude manufacturing, low-altitude operations, low-altitude infrastructure and information services, and low-altitude supporting industries [1][15] - The development of the low-altitude economy is supported by breakthroughs in technology and increased policy support, leading to rapid growth in the sector [1][15] - The domestic general aviation industry has reached new highs, with 760 companies holding operational licenses and a total of 5,224 registered general aviation aircraft by the end of 2024, marking a year-on-year increase of 10.1% [1] Summary by Sections 1. Low-altitude Manufacturing Opportunities - Low-altitude manufacturing accounts for nearly 60% of the total value in the industry chain, with domestic companies accelerating the localization of high-strength carbon fiber products [2] - The electric propulsion systems for aircraft require higher performance parameters, with companies like Wolong Electric and Inbol accelerating the development of high-performance motors [2] - The industry is expected to transition towards a primarily electric and hybrid model, with solid-state batteries showing promise for future applications in low-altitude aircraft [2] 2. Low-altitude Operations Opportunities - Key catalysts in low-altitude operations include the progress of airworthiness certification for electric vertical takeoff and landing (eVTOL) aircraft and the transition of application scenarios from pilot projects to normalization [3] - By the third quarter of 2025, approximately 17 products are expected to enter the airworthiness acceptance or certification stage, with most manned eVTOL models anticipated to be approved by 2028 [3] - The commercialization of low-altitude logistics operations is progressing rapidly, with companies like Fengfei Aviation achieving successful pilot results in intercity and inter-island transport [3] 3. Low-altitude Infrastructure Opportunities - The low-altitude infrastructure includes both physical facilities and technical systems, with an estimated construction cost of 599.6 billion yuan for low-altitude economic infrastructure (general airports + takeoff and landing sites) from 2025 to 2030 [3] - The planning and consulting costs for this infrastructure are projected to be 35.97 billion yuan during the same period [3] 4. Low-altitude Supporting Industries Opportunities - The demand for low-altitude aircraft testing is expected to realize commercial viability first, as it is closely tied to the entire lifecycle of aircraft development, certification, and commercial operation [4] - Third-party testing institutions with aerospace experience and robust testing capabilities are likely to benefit from this demand [4]

Investment Rating - The report maintains a "Recommendation" rating for the low-altitude economy sector, indicating an expected increase in the industry index exceeding the benchmark index by more than 5% in the next 3-6 months [6][42]. Core Insights - The recent issuance of the "Low Altitude Economy Standard System Construction Guide (2025 Edition)" by ten government departments marks a significant step towards the practical implementation of low-altitude economic development, with a goal to establish a basic standard system by 2027 [6][10]. - The launch of the V5000 Tianjilong, the world's first 5-ton eVTOL by Fengfei Aviation, showcases China's leading position in the eVTOL sector, with significant implications for air logistics and passenger transport [3][12]. - The Huachuang Transportation Low Altitude 60 Index experienced a weekly decline of 1.6% but has shown an overall increase of 1% for the year, outperforming the Shanghai and Shenzhen 300 Index, which increased by 0.3% [16][17]. Summary by Sections Low Altitude Economy Development - The guide emphasizes safety, innovation, industry collaboration, and international alignment, focusing on five core areas: low-altitude aircraft, infrastructure, air traffic management, safety regulation, and application scenarios [7][10]. - The establishment of a comprehensive standard system is expected to accelerate the development of the low-altitude industry and provide clear guidance for local governments and industry participants [10]. eVTOL Product Launch - Fengfei Aviation's V5000 Tianjilong features a maximum range of 250 km for the electric version and up to 1500 km for the hybrid version, with capabilities for both passenger and cargo transport [12][13]. - The successful launch of this product is anticipated to enhance the accessibility of air logistics and reduce costs significantly [12][13]. Market Performance - The Huachuang Transportation Low Altitude 60 Index's performance reflects a 1% increase year-to-date, with notable individual stock performances, including significant gains from companies like Fulin Transportation and Xianheng International [16][18]. - The report highlights key companies across various segments of the low-altitude economy, suggesting a focus on manufacturers, supply chains, and operational entities to explore commercial opportunities [24][25].