证券代码：301236 证券简称：软通动力 软通动力信息技术（集团）股份有限公司 2025 年度向特定对象发行股票预案 （修订稿） 二〇二五年十一月 声 明 1、本公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不 存在虚假记载、误导性陈述或重大遗漏，并对本预案内容的真实性、准确性、 完整性承担个别和连带的法律责任。 2、本预案按照《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司证券发行注册管理办法》等要求编制。 3、本次向特定对象发行股票完成后，公司经营与收益的变化由公司自行负 责；因本次向特定对象发行股票引致的投资风险由投资者自行负责。 4、本预案是公司董事会对本次向特定对象发行股票的说明，任何与之相反 的声明均属不实陈述。 5、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 6、本预案所述事项不代表审批机关对于本次向特定对象发行股票相关事项 的实质性判断、确认或批准，本预案所述本次向特定对象发行股票相关事项的 生效和完成尚待取得有关审批机关的批准或注册。 2 重大事项提示 本部分所述的词语或简称与本预案"释义"中所定义的词语或简称具有相 同的含义。 ...

软通动力信息技术（集团）股份有限公司 证券代码：301236 证券简称：软通动力 公告编号：2025-090 2025 年 11 月 7 日 公司向特定对象发行股票预案（修订稿）的披露事项不代表审批机关对本次 发行股票相关事项的实质性判断、确认或批准。上述预案（修订稿）所述本次向 特定对象发行股票相关事项的生效和完成尚需深圳证券交易所审核通过并经中 国证券监督管理委员会作出同意注册决定后方可实施，敬请广大投资者注意投资 风险。 特此公告。 软通动力信息技术（集团）股份有限公司 董 事 会 关于2025年度向特定对象发行股票预案（修订稿） 披露的提示性公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）于 2025 年 11 月 7 日召开了第二届董事会第二十二次会议和第二届监事会第二十次会议， 审议通过了《公司 2025 年度向特定对象发行股票预案（修订稿）》等相关议案。 《软通动力信息技术（集团）股份有限公司 2025 年度向特定对象发行股票预案 （修订稿）》及相关文件已于同日在符合条件的信息披露网站 ...

软通动力信息技术（集团）股份有限公司 第二届董事会第二十二次会议决议公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）经全体董事一 致豁免会议通知时间，于 2025 年 11 月 7 日发出会议通知，2025 年 11 月 7 日在 公司会议室以现场及通讯表决方式召开了第二届董事会第二十二次会议，会议应 到董事 9 名，实到董事 9 名。会议的召集和召开程序符合有关法律、行政法规、 部门规章、规范性文件和公司章程的有关规定。本次会议由董事长刘天文先生主 持，公司监事和高级管理人员列席了本次会议，经过认真审议，形成如下决议： 一、会议审议通过如下议案 证券代码：301236 证券简称：软通动力 公告编号：2025-088 1、审议通过《关于调整公司 2025 年度向特定对象发行股票方案的议案》 为推进公司 2025 年度向特定对象发行股票工作的顺利开展，根据《上市公 司证券发行注册管理办法》、《证券期货法律适用意见第 18 号》、《监管规则适用 指引——发行类第 7 号》等相关规定，并结合公司实际情况， ...

Core Viewpoint - The article emphasizes the importance of the "15th Five-Year Plan" in shaping investment strategies, highlighting the shift towards a modern industrial system and the prioritization of technological self-reliance and innovation as key drivers for economic growth [1][12]. Summary by Sections Introduction - The "15th Five-Year Plan" prioritizes the construction of a modern industrial system and sets "technological self-reliance" as the second development goal, providing quantifiable targets for the capital market [1]. Historical Context - Previous five-year plans have led to the emergence of significant industries: - The 12th Five-Year Plan (2011-2015) focused on seven strategic emerging industries including energy conservation and new energy vehicles [2]. - The 13th Five-Year Plan (2016-2020) emphasized supply-side reforms [3]. - The 14th Five-Year Plan (2021-2025) introduced a focus on carbon neutrality and supply chain security [4]. Investment Opportunities - The "15th Five-Year Plan" is expected to drive investment in strategic emerging industries, with a focus on sectors such as new energy, biotechnology, and high-end equipment [7][12]. - Historical data shows that industries highlighted in the 14th Five-Year Plan have outperformed the market, with significant excess returns observed in sectors like photovoltaics and new energy vehicles [6][8]. Policy Tools - The article outlines the policy tools prepared for the "15th Five-Year Plan": 1. Fiscal measures to enhance macroeconomic policies and increase central government spending. 2. Monetary policies aimed at developing direct financing and financial markets. 3. Industrial policies to boost innovation and new productivity [4]. Strategic Focus Areas - The "15th Five-Year Plan" identifies key strategic areas for investment, including: - Advanced manufacturing, artificial intelligence, and semiconductor industries as core components of the hard technology sector [15][18]. - Emphasis on the integration of technology and industry, with a focus on scaling innovations [12][16]. ETF Recommendations - Specific ETFs are highlighted as investment vehicles to capitalize on the trends outlined in the "15th Five-Year Plan": 1. Chip ETF focusing on semiconductor industries. 2. AI ETF targeting companies in the artificial intelligence sector. 3. Robotics ETF covering the entire robotics supply chain [18][29]. Conclusion - The article concludes that the "15th Five-Year Plan" is not just a domestic economic strategy but also a framework for global capital reallocation, with significant implications for investment in technology and innovation [28].

Core Insights - The defense and military industry is experiencing a release of fundamental pressures, with revenue and profit realization expected to accelerate [3][11][12] - Overall revenue and net profit for the military industry showed a year-on-year decline, indicating a need for recovery [12] - The report highlights the importance of various segments within the military industry, showing differentiated performance across equipment categories [12][4] Revenue and Profit Performance - For Q1-Q3 2025, the military industry reported a revenue growth rate of -1.68% and a net profit growth rate of -10.95% year-on-year [12][4] - Performance varied by equipment segment: ground armaments (+18.2%), naval equipment (-8.4%), aviation equipment (-1.7%), aerospace equipment (+9.3%), and military electronics (+7.1%) [12][4] - Revenue growth rates for different supply chain segments were also varied, with upstream materials (+4.8%) and components (+6.6%) performing better than midstream and downstream segments, which saw declines [12][4] Profitability Analysis - The overall gross margin and net margin for the military industry were reported at 18.04% and 5.07%, respectively, with expectations for improvement as scale effects materialize [4][12] - The military electronics segment maintained a high level of profitability, while other segments experienced slight fluctuations [4][12] - Profitability across the supply chain showed divergence, with upstream and midstream segments maintaining stronger profitability but on a declining trend [4][12] Operational Indicators - Operational indicators demonstrated stable growth, with inventory, accounts payable, and contract liabilities increasing by 13.19%, 30.96%, and 12.10% year-on-year, respectively [4][12] - All equipment segments reported growth in prepayments and contract liabilities, with significant increases in inventory and accounts payable in the aviation equipment sector [4][12] - The report indicates that the military industry is experiencing a sustained level of activity and demand, supporting overall industry health [4][12] Investment Recommendations - The report suggests increasing attention to the military sector, particularly focusing on next-generation equipment and unmanned systems, which are expected to see rapid realization starting in 2025 [12][11] - Key companies to watch include those involved in high-end combat capabilities and new quality combat forces, indicating a broad spectrum of investment opportunities within the sector [12][11]

指数 名称 收盘 涨跌（％） （点） 1 日 5 日 1 月 上证指数 4008 0.97 3.22 0.52 深证综指 2527 1.16 0.3 0.36 风格指数 昨日 近 1 个月 近 6 个月 | (％) | | | | | --- | --- | --- | --- | | 大盘指数 | 1.51 | 1.15 | 23.66 | | 中盘指数 | 1.67 | -1.37 | 29.75 | | 小盘指数 | 1.31 | -0.19 | 24.48 | | 涨幅居前 行业(％) | 昨日 | 近 1 个月 | 近 6 个月 | | 跌幅居前 行业(％) | 昨日 | 近 1 个月 | 近 6 个月 | 今日重点推荐 2025 年 11 月 07 日 国防军工行业深度报告：国防军工行业 2025 三季报总结—— 基本面压力释放，确收和利润兑现将提速 ◼ 我们从业绩表现、盈利能力、营运指标等方面对军工行业 2025 年三季报进 行了分析总结，考虑了如中航成飞等个股报表回溯调整的影响，并通过横 向、纵向、静态和动态等视角阐明了军工行业在边际上仍在发生重要的变 化。 申万宏源晨会报告 ◼ 从收入利润表 ...

Core Viewpoint - The first Global Consumer Electronics Innovation Conference (CEIC 2025) in Shenzhen signifies a shift in the global consumer electronics landscape, with China aiming to redefine its influence in the industry [1][3]. Group 1: Technological Breakthroughs - Breakthroughs in foundational technologies like HarmonyOS and StarFlash are reshaping the competitive landscape of the consumer electronics industry [3]. - StarFlash technology, developed by Huawei, offers significant advantages over traditional wireless technologies, including a transmission latency reduced to one-sixth of other controllers and a sixfold increase in transmission speed [6][8]. - The StarFlash ecosystem has already covered over 200 types of commercial products, ranging from large appliances to smaller devices like mice and headphones [5]. Group 2: Market Impact - Shenzhen's electromechanical product exports reached 2 trillion yuan in 2024, a 12.1% increase, accounting for over 13% of the national total [11]. - Traditional electronic products from Shenzhen, including mobile phones and home appliances, exported 377.43 billion yuan, showing a 6.8% year-on-year growth [11]. - Shenzhen holds a dominant position in the global drone market, with consumer drones accounting for 70% and industrial drones for 50% of the global market share as of mid-2025 [11]. Group 3: Industry Events and Global Positioning - The CEIC aims to establish a platform comparable to the CES in the U.S., which has historically set the trends and standards in the consumer electronics industry [13][14]. - The CES has been pivotal in launching groundbreaking products and technologies, influencing global market trends and standards [12][13]. - Despite the potential of CEIC, it currently lacks the brand recognition and international influence to attract top-tier companies and audiences, indicating a long road ahead for establishing its significance [14].

Core Viewpoint - The first Global Consumer Electronics Innovation Conference (CEIC 2025) in Shenzhen signifies a shift in the global consumer electronics landscape, with Chinese technology aiming to redefine industry standards and gain a stronger voice in the market [1][11]. Group 1: Technological Breakthroughs - Breakthroughs in foundational technologies like HarmonyOS and StarFlash are reshaping the competitive landscape of the consumer electronics industry, enabling Chinese innovations to compete for global influence [2][5]. - StarFlash technology, developed by Huawei, offers significant advantages over traditional wireless technologies, achieving a transmission latency of just 5 milliseconds, which is one-sixth of other controllers, and enhancing energy efficiency [6][8]. - The StarFlash ecosystem now covers over 200 types of commercial products, ranging from large appliances like TVs and refrigerators to smaller devices like mice and keyboards [6][8]. Group 2: Application and Integration - The HarmonyOS system is being utilized in various innovative solutions, such as "no-sense parking," which automates vehicle identification and payment processes, enhancing user convenience [8]. - The integration of HarmonyOS and StarFlash technologies is being promoted in educational and research settings, fostering early-stage influence on consumer electronics technology [9][10]. Group 3: Market Position and Export Growth - Shenzhen's export of electromechanical products reached 2 trillion yuan in 2024, marking a 12.1% increase, with traditional electronic products like mobile phones and home appliances contributing significantly to this growth [12]. - Shenzhen holds a dominant position in the global drone market, with consumer-grade drones accounting for 70% and industrial-grade drones for 50% of the global market share as of mid-2025 [12]. Group 4: Industry Events and Global Influence - The CEIC aims to establish itself as a platform comparable to the CES in the U.S., which has historically set technology trends and industry standards [14][15]. - Despite its potential, CEIC is still in its early stages, facing challenges in brand recognition and international participation, which are crucial for attracting top enterprises and professional audiences [15].

Core Insights - The first Global Consumer Electronics Innovation Conference (CEIC 2025) in Shenzhen signifies a shift in the global consumer electronics landscape, with Chinese technology aiming to gain a stronger voice in the industry [1] Group 1: Technological Breakthroughs - The Starlink technology, developed by Huawei, has achieved significant advancements, offering lower power consumption, higher transmission rates, and reduced latency compared to traditional wireless technologies like Bluetooth and WiFi [2] - Starlink technology has been integrated into over 200 types of commercial products, enhancing performance in various sectors including power, transportation, education, and smart manufacturing [2] - The HarmonyOS ecosystem is also highlighted, providing efficient solutions in areas such as smart parking and smart homes, showcasing its distributed capabilities [3] Group 2: Economic Impact - Shenzhen's electromechanical product exports reached 2 trillion yuan in 2024, marking a 12.1% increase, with traditional electronic products like mobile phones and home appliances contributing 377.43 billion yuan, a 6.8% year-on-year growth [4] - Shenzhen holds a dominant position in the global drone market, with consumer drones accounting for 70% and industrial drones for 50% of the global market share as of mid-2025 [5] Group 3: Industry Positioning - Despite its strengths, Shenzhen and China lack a globally influential exhibition platform like CES, which has historically defined trends and standards in consumer electronics [6] - The CEIC aims to fill this gap, but it currently faces challenges in brand recognition and international influence, limiting its ability to attract top-tier companies and audiences [6]

Core Insights - The first Global Consumer Electronics Innovation Conference (CEIC 2025) in Shenzhen signifies a shift in the global consumer electronics landscape, with Chinese technology aiming to gain a stronger voice in the industry [1] Group 1: Technological Breakthroughs - The Starlink technology, developed by Huawei, has achieved significant advancements, including a transmission latency of just 5 milliseconds, which is one-sixth of traditional controllers, and a sixfold increase in transmission speed compared to Bluetooth [2] - The HarmonyOS ecosystem is also highlighted, providing efficient solutions in various scenarios, such as "seamless parking" that automates vehicle identification and payment processes [3] - The integration of HarmonyOS and Starlink technologies into educational and research settings is fostering early-stage innovation in consumer electronics [3] Group 2: Market Position and Growth - Shenzhen's export of electromechanical products reached 2 trillion yuan in 2024, a 12.1% increase, with traditional electronic products like mobile phones and home appliances contributing 377.43 billion yuan, up 6.8% [4] - Shenzhen holds a dominant position in the drone market, with consumer drones accounting for 70% and industrial drones for 50% of the global market as of mid-2025 [4] Group 3: Industry Events and Global Influence - The CEIC aims to establish itself as a significant platform to rival the CES, which has historically set technology trends and industry standards [6] - Experts suggest that having a platform like CEIC is crucial for China to assert its influence in the global consumer electronics supply chain, although CEIC is still in its early stages and lacks the international recognition of CES [6]