上海华测导航技术股份有限公司 2025 年第三期限制性股票激励计划首次授予激励对象名单 （首次授予日） 一、总体情况 | 序 | 姓名 | 国籍 | 职务 | 获授的限制性股 | 占授予限制性 股票总数的比 | 占本激励计划 首次授予时公 | | --- | --- | --- | --- | --- | --- | --- | | 号 | | | | 票数量（万股） | | | | | | | | | 例 | 司总股本比例 | | 1 | 袁本银 | 中国 | 董事、副总经 | 9.0000 | 0.4500% | 0.0114% | | | | | 理 | | | | | 2 | 沈礼伟 | 中国 | 职工代表董事 | 5.5000 | 0.2750% | 0.0070% | | 3 | 孙梦婷 | | 副总经理、董 | | 0.2000% | 0.0051% | | | | 中国 | 事会秘书 | 4.0000 | | | | 4 | 姜春生 | 中国 | 副总经理 | 7.5000 | 0.3750% | 0.0095% | | 5 | 高占武 | 中国 | 财务总监 | 5.5000 | 0.275 ...

证券代码：300627 证券简称：华测导航 公告编号：2026-005 上海华测导航技术股份有限公司 关于调整 2025 年第三期限制性股票激励计划相关事项的公告 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。 上海华测导航技术股份有限公司（以下简称"公司"）于2026年1月26日召开的 第四届董事会第二十五次会议，审议通过了关于《调整2025年第三期限制性股票激 励计划相关事项》的议案。根据《上市公司股权激励管理办法》（以下简称"《管 理办法》"）及《上海华测导航技术股份有限公司2025年第三期限制性股票激励计 划（草案）》（以下简称"《激励计划》"）的相关规定，并根据公司2025年第四 次临时股东会的授权，公司董事会对2025年第三期限制性股票激励计划（以下简称 "本激励计划"）相关事项进行了调整，现将具体情况公告如下： 一、本激励计划已履行的决策程序和信息披露情况 （一）2025 年 10 月 27 日，公司召开第四届董事会第二十三次会议，会议审议 通过了关于《公司<2025 年第三期限制性股票激励计划（草案）>及其摘要》的议案、 关于《公司<2025 ...

证券代码：300627 证券简称；华测导航 公告编号：2026-004 上海华测导航技术股份有限公司 董事会薪酬与考核委员会关于公司 2025 年第三期 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。 上海华测导航技术股份有限公司（以下简称"公司"）董事会薪酬与考核委 员会依据《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》"）、《上市公司股权激励管理办法》（以下简称"《管 理办法》"）、《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）、 《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》和《上海 华测导航技术股份有限公司章程》（以下简称"《公司章程》"）等有关规定，对公 司 2025 年第三期限制性股票激励计划（以下简称"本激励计划"）首次授予激励 对象名单（首次授予日）进行审核，并发表核查意见如下： 一、本激励计划首次授予的激励对象均不存在《管理办法》第八条及《上市 规则》第 8.4.2 条规定的不得成为激励对象的情形： （一）最近 12 个月内被证券交易所认定为不适当人选 ...

国浩律师（杭州）事务所 关 于 上海华测导航技术股份有限公司 2025 年第三期限制性股票激励计划 调整及首次授予相关事项之 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2&No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二六年一月 调整及首次授予相关事项之 法律意见书 致：上海华测导航技术股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受上海华测导航技术股份 有限公司（以下简称"华测导航""公司"）的委托，担任华测导航 2025 年第 三期限制性股票激励计划（以下简称"本次激励计划"）的特聘专项法律顾问。 本所根据《中华人民 ...

证券代码：300627 证券简称：华测导航 公告编号：2026-006 上海华测导航技术股份有限公司 关于向 2025 年第三期限制性股票激励计划激励对象 首次授予限制性股票的公告 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。 重要内容提示： 《上海华测导航技术股份有限公司 2025 年第三期限制性股票激励计划（草 案）》（以下简称"《激励计划（草案）》"或"本激励计划"）规定的限制性 股票首次授予条件已经成就，根据公司 2025 年第四次临时股东会的授权，公司 于 2026 年 1 月 26 日召开的第四届董事会第二十五次会议，审议通过了关于《向 激励对象首次授予限制性股票》的议案，确定 2026 年 1 月 26 日为首次授予日， 以 27.08 元/股的授予价格向 1,074 名激励对象授予 1,800.00 万股限制性股票。现 将有关事项说明如下： 一、本激励计划简述 本激励计划拟首次授予限制性股票的激励对象总人数为 1,082 人2，包括公司 公告本激励计划时在本公司（含各级控股子公司，下同）任职的董事、高级管理 1 本公告所指"总股本"如未指定日 ...

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。 证券代码：300627 证券简称：华测导航 公告编号：2026-003 上海华测导航技术股份有限公司 第四届董事会第二十五次会议决议公告 一、董事会会议召开情况 上海华测导航技术股份有限公司（以下简称"公司"）第四届董事会第二十 五次会议的通知于 2026 年 1 月 21 日以书面或电子邮件的形式发出，会议于 2026 年 1 月 26 日在上海市青浦区崧盈路 577 号华测时空智能产业园 C 座二楼会议室 以现场结合通讯方式召开。本次会议应出席董事 8 名，实际出席董事 8 名。本次 会议由公司董事长赵延平先生主持，公司部分高级管理人员列席了本次会议。 本次会议的召开和表决程序符合《中华人民共和国公司法》等有关法律、行 政法规、部门规章、规范性文件和《上海华测导航技术股份有限公司章程》的规 定。 二、董事会会议审议情况 经与会董事审议，以记名投票表决方式通过如下议案： 1、以 6 票同意，0 票反对，0 票弃权，2 票回避，审议通过关于《调整 2025 年第三期限制性股票激励计划相关事项》的议案。 鉴于公司 ...

Core Insights - The report emphasizes that China's asset value has significant room for revaluation, with the stock market expected to experience a slow bull market in 2025, driven by the transition from old to new economic drivers and the increasing share of the tertiary industry [6] - The report highlights that the liquidity environment is expected to remain supportive for the stock market in 2026, with potential interest rate cuts in China and a narrowing of interest rate differentials between China and the US [7] - The report anticipates a turning point in corporate earnings and valuations in the A-share market, with a projected profit growth rate of around 12% in 2026 [8] Economic News - The report notes that retail sales in various sectors, including home appliances and tourism, have shown significant year-on-year growth, indicating a recovery in consumer spending [2] - The People's Bank of China has announced measures to enhance offshore RMB liquidity, which may positively impact market confidence and investment [2] - The report mentions that foreign direct investment in China has increased, particularly in high-tech industries, reflecting a positive trend in attracting foreign capital [2] Industry Analysis - The report discusses the ongoing transformation of China's manufacturing sector, with a shift towards high-value-added services and technology-driven industries, which is expected to enhance the profitability of Chinese assets [6] - The report highlights the expected growth in the lithium industry, driven by the demand for electric vehicles and energy storage systems, with a projected compound annual growth rate (CAGR) of 21% for lithium demand from 2024 to 2027 [21] - The report indicates that the rare earth industry is undergoing a structural optimization, with supply constraints and increasing demand from sectors like electric vehicles and renewable energy, which may lead to price increases and improved profitability for related companies [17][18] Company Recommendations - The report recommends several stocks for 2026, including Torch Electronics, which is expected to benefit from improving industry conditions, and Guoli Electronics, which has a strong position in the semiconductor and new energy sectors [13] - Other recommended companies include Huace Navigation, which is poised to benefit from the Beidou satellite system, and Kingsoft Office, which is expected to see growth in its software business [13][14] - The report also highlights the potential of companies in the lithium and rare earth sectors, such as Zhongmin Resources and Jinyang Salt, due to the anticipated growth in demand for these materials [20][21]

（ITU）对于卫星轨道和频段资源的申请使用有着严格的时间表，而当前我国两大星座卫星部署数量的 完成度仅约1%。未来几年我国将逐步掌握火箭回收+多次复飞技术，国内商业卫星发射有望迎来高速增 长。 通用航空ETF基金紧密跟踪中证通用航空主题指数，中证通用航空主题指数选取50只业务涉及航空材料 及零部件、通航飞行器制造、通航基础设施、通航运营与保障、通航应用等通用航空相关领域的上市公 司证券作为指数样本，反映通用航空主题相关上市公司证券的整体表现。 数据显示，截至2025年12月31日，中证通用航空主题指数(931855)前十大权重股分别为航天电子、海格 通信、中国卫通、中科星图、北斗星通、华测导航、航天彩虹、雷科防务、华力创通、西部超导，前十 大权重股合计占比43.4%。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理的其他基金的业 ...

Group 1 - The core viewpoint of the news highlights the advancements in China's commercial aerospace sector, particularly the timelines and differentiated paths for the development of reusable rockets, with 2026 being a pivotal year for technology validation [1] - Key figures from major companies, including Zhang Xiaodong from Blue Arrow Aerospace and Li Jun from Star River Power, presented updates on their respective rocket projects, indicating a collaborative effort towards achieving reusable rocket technology [1] - The report from Western Securities emphasizes that the global commercial aerospace industry is transitioning from "single satellite tests" to "constellation networks," with China's satellite deployment currently at only about 1% completion [1] Group 2 - The Satellite ETF Penghua closely tracks the CSI Satellite Industry Index, which includes 50 listed companies involved in satellite manufacturing, launching, communication, navigation, and remote sensing, reflecting the overall performance of the satellite industry [2] - As of December 31, 2025, the top ten weighted stocks in the CSI Satellite Industry Index account for 63.64% of the index, with major companies including China Satellite, Aerospace Electronics, and China Satcom [2]

Investment Rating - The report maintains an "Overweight" rating for the communication industry, expecting the industry index to outperform the market index by more than 10% in the next six months [2][44]. Core Insights - The communication industry index has shown a cumulative increase of 1.61% over the past two weeks (January 9 to January 22), outperforming the CSI 300 index by 1.91 percentage points, ranking 21st among 31 first-level industries [4][11]. - In January, the communication sector has risen by 2.48%, again surpassing the CSI 300 index by 0.45 percentage points [4][11]. - The report highlights a critical period of annual performance forecasts for listed companies, which serves as a key window to validate the growth potential and market conditions of various sectors [4][39]. Industry Performance Review - The communication sector's six sub-sectors have varied performance over the past two weeks, with the highest increase in the SW Communication Application Value-Added Services (+11.59%) and the lowest in SW Communication Terminals and Accessories (-1.64%) [4][15]. - The report notes that the communication industry is entering a phase of technological iteration and policy benefits, with new growth drivers expected from AI, quantum communication, and low-altitude economy [4][39]. Industry News and Company Announcements - IDC predicts that by 2030, AI agents will become a significant part of the global workforce, with a projected increase from approximately 28.6 million active agents in 2025 to 2.216 billion [16]. - China Mobile has established a special office for computing power strategy, marking a new phase in its systematic approach to computing power deployment [17][19]. - The Ministry of Industry and Information Technology reports that AI has penetrated over 70% of business scenarios in leading smart factories [20]. - Tianfu Communication expects a net profit increase of 40%-60% for 2025, driven by the growth in AI and data center construction [23]. - Changxin Bochuang anticipates a net profit increase of 344%-413% for 2025, fueled by demand in cloud computing and AI [24]. Industry Data Updates - As of November 2025, the mobile phone user base reached approximately 1.828 billion, a year-on-year increase of 2.20% [27]. - The internet broadband access user base was about 697 million, reflecting a year-on-year increase of 4.28% [29]. - The length of optical cable lines reached approximately 74.44 million kilometers, with a year-on-year growth of 3.63% [30]. - By November 2025, the total number of 5G base stations reached 4.83 million, with a net increase of 579,000 from the previous year [36]. Investment Recommendations - The report suggests focusing on companies that align with the themes of "technology commercialization, policy catalysis, and earnings certainty," highlighting potential opportunities in the sector [4][39]. - Recommended stocks include China Mobile (600941.SH), China Telecom (601728.SH), ZTE Corporation (000063.SZ), Changfei Optical Fiber (601869.SH), and Weisheng Information (688100.SH) [40][42].