中航重机股份有限公司 章 程 二〇二五年十月 | | | 中航重机股份有限公司 章程 第一章 总则 第一条 为维护中航重机股份有限公司（以下简称"公司"）、股东、职工 和债权人的合法权益，规范公司的组织和行为，坚持和加强党的全面领导，坚 持权责法定、权责透明、协调运转、有效制衡的公司治理机制，完善公司法人 治理结构，建设中国特色现代国有企业制度，根据《中华人民共和国公司法》 （以下简称《公司法》）、《中华人民共和国企业国有资产法》（以下简称 《企业国有资产法》）《中华人民共和国证券法》（以下简称"《证券 法》"）和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。公司于 1996年9月4日经贵州省人民政府黔府函[1996]221号文批准，由贵阳航空液压 件厂（1999年已改制为贵州金江航空液压有限责任公司）为独家发起人，以社 会募集方式设立，在贵州省工商行政管理局注册登记，取得营业执照，统一社 会信用代码为：91520000214434146R。 第三条 公司于1996年10月16日经中国证券监督管理委员会（以下简称"中 国证监会"）证监发字[1996]269号文件批准 ...

Financial Performance - The company's operating revenue for the third quarter was ¥2,025,780,531.14, a decrease of 12.01% compared to the same period last year[5]. - The total profit for the third quarter was ¥125,946,110.88, down 67.54% year-on-year[5]. - The net profit attributable to shareholders was ¥123,711,011.12, reflecting a decline of 57.57% compared to the previous year[5]. - The net profit after deducting non-recurring gains and losses was ¥53,941,233.36, a significant drop of 80.04% year-on-year[6]. - The basic earnings per share for the third quarter was ¥0.08, down 60.00% from the same period last year[6]. - Total operating revenue for the first three quarters of 2025 was ¥7,776,388,488.14, a decrease of 6.57% compared to ¥8,324,634,931.61 in the same period of 2024[25]. - Operating profit for the first three quarters of 2025 was ¥810,228,643.18, down 37.19% from ¥1,291,155,148.53 in the previous year[25]. - The net profit for the first three quarters of 2025 is CNY 710,084,130.35, a decrease of 37.2% compared to CNY 1,132,427,021.49 in the same period of 2024[26]. - Basic and diluted earnings per share for the first three quarters of 2025 are both CNY 0.39, down from CNY 0.69 in the previous year[27]. - The total comprehensive income for the first three quarters of 2025 is CNY 710,975,141.44, down from CNY 1,132,493,537.73 in the previous year[26]. Assets and Liabilities - The total assets at the end of the reporting period were ¥31,763,686,339.85, an increase of 4.74% compared to the end of the previous year[6]. - Total assets increased to ¥31,763,686,339.85 in 2025 from ¥30,324,946,996.08 in 2024, showing growth in the asset base[21]. - Total liabilities rose to ¥15,581,100,621.94 in 2025 from ¥14,435,104,832.31 in 2024, suggesting increased leverage[21]. - The company's total equity rose to ¥16,182,585,717.91 in 2025 from ¥15,889,842,163.77 in 2024, indicating a strengthening of the equity position[21]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥912,556,734.53, a decrease of 51.13% year-on-year[6]. - Cash flow from operating activities for the first three quarters of 2025 is negative CNY 912,556,734.53, compared to negative CNY 603,836,738.46 in the same period of 2024[28]. - Total cash inflow from operating activities is CNY 5,865,234,510.58, an increase of 6.4% from CNY 5,511,565,926.39 in the previous year[28]. - Cash outflow from operating activities is CNY 6,777,791,245.11, up from CNY 6,115,402,664.85 in the same period of 2024[28]. - Net cash flow from investing activities is negative CNY 468,467,022.08, compared to negative CNY 1,030,204,569.57 in the previous year[29]. - Cash flow from financing activities shows a net increase of CNY 285,720,353.25, compared to CNY 250,294,226.11 in the same period of 2024[29]. - The cash and cash equivalents at the end of the period amount to CNY 4,325,417,832.06, compared to CNY 4,169,721,356.03 at the end of the previous year[29]. Research and Development - The company reported an increase in R&D expenses by 9.43% year-to-date, attributed to the development of over 4,000 new products[10]. - Research and development expenses increased to ¥457,940,600.23 in 2025 from ¥418,484,423.68 in 2024, reflecting a focus on innovation[25]. - The company has a strong focus on research and development to maintain its competitive edge in the aviation sector[15]. Market Position and Strategy - The company has obtained supplier qualification from 46 clients, including major players like COMAC and Safran, enhancing its market position[15]. - The company is focusing on expanding its aviation forging technology and aims to achieve profitability by increasing its market share in the aviation and gas turbine sectors[15]. - The company’s subsidiary has completed sample deliveries for multiple microchannel liquid cooling projects, indicating progress in product development[17]. - The company is set to launch new products in the civilian heat exchanger market, which is expected to drive rapid growth[17]. - The company has established an "Aviation Forging Innovation Center" to enhance its technological capabilities and support the aviation industry's development[15]. Tax and Expenses - The company experienced a 50.35% increase in taxes and surcharges year-to-date, primarily due to rising property and land use taxes[10]. - Total operating costs for the first three quarters of 2025 were ¥6,877,024,793.88, slightly down from ¥6,909,322,429.18 in 2024, indicating a cost control strategy[25]. Other Information - The total number of ordinary shareholders at the end of the reporting period was 98,157[12]. - Long-term equity investments decreased from ¥711,719,398.80 to ¥581,693,422.02, indicating a potential shift in investment strategy[20]. - Deferred tax assets increased to ¥223,419,871.99 from ¥200,889,594.18, which may impact future tax liabilities positively[20]. - The company has not applied new accounting standards starting from 2025[30].

证券代码：600765 证券简称：中航重机 公告编号：2025-070 中航重机股份有限公司 关于聘请2025年度审计机构的公告 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个别及连带责任。 中航重机股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开第七 届董事会第十三次会议，审议通过了《关于聘请 2025 年度审计机构的议案》，该 议案尚需提交公司股东会审议。现将具体情况公告如下： 一、大信会计师事务所基本情况 （四）投资者保护能力 职业保险累计赔偿限额和计提的职业风险基金之和超过 2 亿元，职业风险基 金计提和职业保险购买符合相关规定。 近三年，本所因执业行为承担民事责任的情况包括昌信农贷等三项审计业务， 投资者诉讼金额共计 426.31 万元，均已履行完毕，职业保险能够覆盖民事赔偿 责任。 （一）机构信息 大信会计师事务所（特殊普通合伙）（以下简称"大信"）成立于 1985 年， 2012 年 3 月转制为特殊普通合伙制事务所，总部位于北京，注册地址为北京市 海淀区知春路 1 号 22 层 2206。大信在 ...

证券代码：600765 证券简称：中航重机 公告编号：2025-071 重要内容提示： 本次修订《中航重机股份有限公司章程》事项尚需提交股东会审议通过。 特此公告。 中航重机股份有限公司 关于修订《公司章程》的公告 中航重机股份有限公司董事会 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个别及连带责任。 2025 年 10 月 31 日 中航重机股份有限公司（以下简称"公司"）于2025年10月29日召开第七 届董事会第十三次会议审议了《关于修订<公司章程>的议案》，具体修订情况 如下： | 序号 | | | | | 修订前 | | | | | | | | | | | 修订后 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 第 七 | 条 | 公 | 司 | 注 | 册 | 资 | ...

Core Viewpoint - The aviation equipment sector experienced a rise of 1.11% on October 28, with Tongyi Aerospace leading the gains, while the overall market indices showed a decline [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3988.22, down 0.22%, and the Shenzhen Component Index closed at 13430.1, down 0.44% [1]. - Key stocks in the aviation equipment sector showed significant gains, with Tongyi Aerospace rising by 6.00% to a closing price of 17.15 [1]. Group 2: Stock Performance - Notable performers included: - Filihua, which increased by 5.47% to 88.00, with a trading volume of 444,000 shares and a transaction value of 3.838 billion [1]. - Maixinlin, up 5.02% to 65.69, with a trading volume of 81,700 shares and a transaction value of 536 million [1]. - Chengxi Aviation, which rose by 4.91% to 17.31, with a trading volume of 430,300 shares and a transaction value of 739 million [1]. Group 3: Capital Flow - The aviation equipment sector saw a net inflow of 308 million from institutional investors, while retail investors experienced a net outflow of 360 million [2][3]. - Key stocks with significant capital inflows included: - Filihua with a net inflow of 318 million, accounting for 8.30% of its trading volume [3]. - Zhonghang Shenfei with a net inflow of 284 million, representing 11.17% of its trading volume [3].

Core Viewpoint - The article highlights the significant growth in the scale of several public funds, particularly the Yongying Technology Select Mixed Fund, which saw its scale increase to 11.5 billion yuan, a staggering growth of over 440 times compared to the end of 2024. Fund managers express optimism about the investment opportunities in equity assets moving forward [3][5][11]. Fund Performance and Growth - The Yongying Technology Select Mixed Fund's scale surged to 11.5 billion yuan by the end of Q3 2025, compared to only 0.02609 billion yuan at the end of 2024, marking an increase of over 440 times in just nine months [5][6]. - The fund achieved a net value increase of 194.96% year-to-date as of October 21, 2025, attracting substantial capital inflow due to its impressive performance [7][8]. - Other funds also experienced significant growth, such as the Quanguo Xuyuan Three-Year Holding Period Mixed Fund, which increased from 13.08 billion yuan to 19.069 billion yuan, and the Huafu CSI Artificial Intelligence Industry ETF, which grew from 0.996 billion yuan to 2.658 billion yuan [10][12]. Investment Focus and Strategy - Fund managers are focusing on high-growth sectors, particularly in technology and cloud computing, indicating a strong belief in the long-term growth potential of these industries [8][12]. - The Yongying Technology Select Mixed Fund has a concentrated portfolio, with its top ten holdings accounting for 73.25% of its net value, emphasizing a strategic focus on specific high-potential stocks [8][9]. - The article notes that the chip industry is beginning to recover, with some segments experiencing price rebounds and improved operational rates, suggesting a positive outlook for related investments [13][14]. Market Outlook - Fund managers express a positive outlook for equity assets in the fourth quarter, driven by supportive policies for economic recovery and a favorable liquidity environment [11][14]. - The article suggests that as new technologies emerge and policies continue to support the economy, investment opportunities in the technology growth sector are expected to be significant [14][15].

Core Insights - The latest public fund reports for Q3 2025 reveal significant growth in several funds, particularly the Yongying Technology Smart Selection Mixed Fund, which increased its scale to 11.5 billion yuan, a rise of over 440 times compared to the end of 2024 [1][3]. Fund Performance - The Yongying Technology Smart Selection Mixed Fund's net value surged by 194.96% year-to-date as of October 21, attracting substantial capital inflow due to its impressive performance [5][8]. - Other notable funds also experienced substantial growth, such as the Quanguo Xuyuan Three-Year Holding Mixed Fund, which grew from 13.08 billion yuan to 19.07 billion yuan, and the Huafu CSI Artificial Intelligence Industry ETF, which increased from 996 million yuan to 2.658 billion yuan [8]. Fund Holdings - As of Q3, the Yongying Technology Smart Selection Mixed Fund had a concentrated portfolio, with its top ten holdings accounting for 73.25% of the fund's net value. Key holdings included Xinyi Technology, Zhongji Xuchuang, and Tianfu Communication [6][7]. - The Jin Xin Transformation Innovation Growth Mixed Fund focused on sectors such as chips, military, and large aircraft, with its top ten holdings reflecting this strategy [9][10]. Market Outlook - Fund managers express optimism regarding equity asset allocation, highlighting the potential for investment opportunities in technology growth sectors, particularly in artificial intelligence and semiconductor industries [2][12]. - The chip industry is showing signs of recovery, with some segments experiencing price rebounds and improved operational rates, indicating a potential turnaround in performance for listed companies in this sector [10].

Core Viewpoint - The company, AVIC Heavy Machinery, has provided insights into its product offerings and recent developments in its hydraulic control business, highlighting advancements in technology and new product developments [2]. Product Offerings - Domestic products include aircraft fuselage and wing structure forgings, medium and small forgings, aviation engine disc and shaft forgings, aerospace engine ring forgings, nuclear power blades, high-speed rail components, mining scrapers, and automotive crankshafts [2]. - International products primarily consist of engine forgings for companies like GE, Rolls-Royce, IHI, and ITP, as well as aircraft forgings for Boeing and Airbus [2]. Recent Developments - The hydraulic control business segment, particularly through its subsidiary AVIC Liyuan Hydraulic Co., Ltd., has made significant progress in 2024 with new product development [2]. - The company has successfully tackled design challenges related to a "certain UAV hydraulic source subsystem," achieving high integration, lightweight, and high reliability, and has secured 3 million yuan in R&D funding [2]. - Additionally, the company has completed the delivery of a prototype for a robotic joint plunger pump and is assembling prototypes for deep-sea plunger pump products, aiming for installation assessment opportunities [2].

Core Viewpoint - The company, AVIC Heavy Machinery (stock code: 600765), primarily engages in the production and sales of forgings, hydraulic components, and radiators, as well as related equipment and parts for aircraft and automotive industries [1] Group 1 - The company's main business includes the development, manufacturing, repair, and sales of forgings, heat exchangers, and complete sets of equipment [1] - The company also specializes in components for aircraft and aviation engines, as well as automotive spare parts [1]

Core Viewpoint - The article discusses the strategic importance of various Chinese cities in the context of potential military conflicts, highlighting their roles in defense, resource allocation, and transportation. Group 1: Strategic Cities - Chongqing is described as a "natural strategic fortress" with less than 2% flatland, making it easy to defend and difficult to attack, while also being a major industrial hub in western China [5][7][8] - Chengdu, as the largest city near Chongqing, is positioned to support it in a military context, integrating resources from the entire Sichuan province and housing significant military facilities [11][13][15] - Taiyuan's geographical location makes it crucial for maintaining stability in the northwestern and northern regions of China, as disturbances there could lead to broader conflicts [18] - Xi'an is highlighted for its central role in the northwest, where its capture by enemy forces could disrupt China's strategic layout [21] - Lanzhou serves as the command center for the western military region, playing a vital role in resource integration during conflicts [23] Group 2: Transportation and Logistics - Xuzhou is identified as a critical transportation hub, connecting major geographical regions and serving as a key railway junction, which is essential during wartime [26][28] - Zhengzhou is noted for its role as a "throat" for national goods transportation and personnel movement, making it strategically significant in times of war [30] - Wuhan is recognized for its importance as a transportation nexus, with a developed industrial system that supports military logistics and resource distribution [30] - Changsha is positioned to coordinate support across central and southwestern regions, providing essential resources during conflicts [32] Group 3: Overall Strategic Framework - The article emphasizes that these ten cities collectively contribute to a strategic framework that balances technological development, transportation, resource supply, and defensive capabilities, forming a robust national defense strategy [34]