累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 70,593.38 | | 子公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 53.09 | | 特别风险提示（如有请勾选） | 担保金额（含本次）超过上市公司最近一 | | | 期经审计净资产 50% | | | □对外担保总额（含本次）超过上市公司最 | | | 近一期经审计净资产 100% | | | □对合并报表外单位担保总额（含本次）达 | | | 到或超过最近一期经审计净资产 30% | | | 本次对资产负债率超过 70%的单位提供担 | | | 保 | | 其他风险提示（如有） | 无 | 一、担保情况概述 （一）担保的基本情况 证券代码：603130 证券简称：云中马 公告编号：2026-005 浙江云中马股份有限公司 关于为全资子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本 ...

2025年1-12月，纺织服装、服饰业企业数（以下数据涉及的企业，均为规模以上工业企业，从2011年 起，规模以上工业企业起点标准由原来的年主营业务收入500万元提高到年主营业务收入2000万元）为 13745个，和上年同期相比，减少了75个，同比下降0.54%，占工业总企业的比重为2.61%。 2016-2025年纺织服装、服饰业企业数统计图 数据来源：国家统计局，智研咨询整理 上市公司：凤竹纺织（600493），江南高纤（600527），航民股份（600987），百隆东方（601339）， 浙文影业（601599），台华新材（603055），健盛集团（603558），新澳股份（603889），迎丰股份 （605055），华生科技（605180），富春染织（605189），夜光明（873527），云中马（603130） 相关报告：智研咨询发布的《2026-2032年中国纺织服装行业市场行情动态及投资潜力研究报告》 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场 ...

Summary of Conference Call Notes Industry Overview - **Aerospace and Space Industry**: Identified as the strongest theme for the year, with expectations for significant developments in Q2, particularly around March to April for successful recoveries. The anticipated IPO of SpaceX in June is expected to heighten market sentiment [1][1]. - **Quantum Technology**: Positioned as a medium-term investment opportunity with several upcoming events that could act as catalysts, including the Spring WA event, NVIDIA conference, advancements in autonomous driving applications, and breakthroughs in error correction capabilities. The core catalyst for the sector is expected to be the turning point in leading companies' financial reports and local government tenders for computers, estimated for Q2 [1][1]. - **Nuclear Fusion**: Focus on upcoming bids in Jiangxi and Chengdu post-holiday, with the CFEDR unveiling. Recommendations are made for platform-type enterprises, with a specific mention of Yongding Co., which is expected to enter a superconducting production phase starting Q1, alongside recent price increases in optical fibers [2][2]. Key Points and Arguments - **Aerospace Sector**: - Q2 is projected to be the peak period for the aerospace sector, with significant events expected in March-April [1][1]. - The IPO of SpaceX in June is anticipated to create a high point in market sentiment [1][1]. - Recent research on Hangsheng Satellite indicates strong fundamentals, and continued attention is advised for Cloud Horse [1][1]. - **Quantum Sector**: - The sector is viewed as having potential for short-term catalysts, with specific focus on leading companies' financial reports and local government tenders [1][1]. - He Xin Instruments is highlighted as having the most significant marginal changes expected soon, while Guo Dun is recommended for long-term investment based on Q1 financial reports being a sector benchmark [1][1]. - **Nuclear Fusion Sector**: - Emphasis on platform-type enterprises as a strategic focus, with Yongding Co. expected to see a ramp-up in superconducting production starting in Q1 [2][2]. - The recent increase in optical fiber prices is noted as a positive development for platform-type companies [2][2]. Additional Important Information - The mention of "three swordsmen" refers to key players in the aerospace sector, suggesting that any pullback in their stock prices should be viewed as an investment opportunity [1][1]. - The overall sentiment indicates a strong belief in the growth potential of the aerospace and quantum sectors, with specific companies highlighted for their promising outlooks [1][1][2][2].

1 空天：还是最强主题～毋庸置疑全年主线，二季度预计锐度最强，重要期待时间3-4月可回收成功（板块高潮 的前提），6月龙头火箭上市/Space X 报ipo（板块将情绪高点），#所以三剑客回调就是机会，昨天调研航升卫星 质地很不错，云中马持续关注。 2量子：阶段性布局，短期很多可以期待的事件，算是中型催化吧（春wan、英伟达大会、智驾应用、纠错能力突 破）；板块最核心催化还是龙头财报拐点+地方政府招标计算机（估计二季度）。 跟各位领导汇报下观点，对比下几个主题，最近问的领导多 1 空天：还是最强主题～毋庸置疑全年主线，二季度预计锐度最强，重要期待时间3-4月可回收成功（板块高潮 的前提），6月龙头火箭上市/Space X 报ipo（板块将情绪高点），#所以三剑客回调就是机会，昨天调研航升卫星 质地很不错，云中马持续关注。 2量子：阶段性布局，短期很多可以期待的事件，算是中型催化吧（春wan、英伟达大 跟各位领导汇报下观点，对比下几个主题，最近问的领导多 个股层面边际变化最大的是#禾信仪器（预计近期落地），龙头国盾长期建议配置（Q1财报是板块风向标）。 3核聚变：关注节后江西+成都开标、CFEDR揭牌，事件催化 ...

Group 1: Financing Activities - Hunan Hangsheng Satellite Technology Co., Ltd. completed a Series A financing round of 160 million yuan, with participation from Jishan Group, Yunzhongma, and other institutions. The funds will be used for team building, satellite production line expansion, high-performance satellite R&D, and product development [3][6] - Beijing Erui Xinyue Technology Co., Ltd. announced a new round of nearly 100 million yuan in Series A strategic financing, marking its fourth round of funding in four years, reflecting strong market recognition of its technology and business prospects [5][6] - Shenzhou Guojian Holdings Group completed 50 million yuan in angel round financing, which will be used for technology R&D and ecological layout [6][11] - Changsha Xingxing Wanshu Technology Co., Ltd. announced the completion of 20 million yuan in angel round financing, with a valuation of 200 million yuan [6][14] Group 2: Company Developments - Hunan Hangsheng is a leading provider of autonomous satellite design and manufacturing services in China, with a complete satellite design and engineering capability. By the end of 2025, it has completed the development and launch of 13 satellites and has over 100 types of core components developed independently [3][4] - Beijing Erui Xinyue has established a leading full-stack technology platform in the exosome industry, with a focus on high-purity extraction, targeted enrichment, and clinical application development. It has developed a diagnostic kit for Parkinson's disease, achieving over 90% sensitivity and specificity [7][9] - Shenzhou Guojian focuses on providing comprehensive services in the digital economy, acting as a bridge between data exchanges and market entities, and aims to integrate deeply into the local innovation ecosystem [11] - Changsha Xingxing Wanshu is targeting the AI short drama market, leveraging its AI content production technology to create a scalable production platform and an IP factory, aiming to innovate in content production and monetization [13][14]

Investment Rating - The report maintains a "Buy" recommendation for the light industry manufacturing sector, particularly focusing on xTool as a leading player in the laser tool market [5]. Core Insights - The personal creative tools market is rapidly growing, with a projected increase from USD 4 billion in 2022 to USD 6.8 billion in 2024, corresponding to a CAGR of 31.0%. The market is expected to reach USD 39.1 billion by 2030, with a CAGR of 33.8% from 2024 to 2030 [9][12]. - xTool has established a dominant position in the laser tool segment, achieving a market share of approximately 37% in the global personal creative tools market and 47% in the core laser engraving/cutting machine market as of September 2025 [23][24]. - The brand xTool, founded in 2021, has transitioned from STEAM education to consumer-grade laser engraving machines, creating a comprehensive ecosystem of hardware, software, and community engagement [27]. Industry Overview Market Size - The personal creative tools market is segmented into additive and non-additive tools, with non-additive tools, including laser tools, showing significant growth. The global penetration rate of laser tools is expected to rise from 11.2% in 2022 to 15.3% in 2024 [9][14]. - The market for additive tools is projected to grow from USD 2.3 billion in 2022 to USD 4.1 billion in 2024, with a CAGR of 32.7% [12]. Competitive Landscape - The laser tool market is characterized by a concentrated competitive structure, with xTool leading the market. The top five brands in the laser engraving and cutting machine market are expected to account for 60% of the GMV in 2024 [23][24]. - xTool's market share in the DTF printer segment is rapidly increasing, reaching 12.7% despite entering the market later than competitors [26]. Company Performance - xTool's revenue is projected to grow from CNY 1.457 billion in 2023 to CNY 2.476 billion in 2024, reflecting a year-on-year increase of 69.97%. However, the growth rate is expected to slow down in 2025 due to product launch timing [29]. - The average selling price of laser tools has increased from CNY 15,600 per unit in 2023 to CNY 21,100 per unit in 2025 [29][36]. Market Trends - The report highlights a positive trend in the light industry manufacturing sector, with the sub-sectors of entertainment products and packaging printing showing increases of 1.85% and 1.78%, respectively, outperforming the broader market [42][46].

Summary of Conference Call for Yunzhongma and Aerospace Satellite Company Overview - **Company**: Yunzhongma - **Industry**: Textile and Commercial Aerospace Key Points Financial Performance - In the first three quarters of 2025, Yunzhongma reported total revenue of **1.94 billion** (19.40 million) yuan, a year-on-year increase of **5.53%** - However, the net profit attributable to shareholders decreased by nearly **25%** due to intensified market competition leading to a decline in product prices [3][2] Strategic Measures - To enhance profitability, Yunzhongma plans to: - Optimize product structure and increase investment in equipment to expand functional products, thereby increasing added value and profit margins - Improve operational efficiency through digitalization and intelligent management to reduce costs and increase efficiency - Strengthen supply chain layout to enhance upstream control capabilities, reducing overall costs and improving product competitiveness [3][2] Investment in DTY Silk and Fabric Project - Yunzhongma is investing **640 million** (6.4 billion) yuan in a DTY silk and fabric project, currently in the construction phase, expected to start production in **2026** and reach full capacity by **2027** - Upon reaching full capacity, the self-supply rate will increase from **30%** to **70%**, significantly lowering direct material costs and enhancing production efficiency [2][5] Environmental Initiatives - The company actively practices energy conservation and environmental protection, achieving ISO 14,001 certification and being recognized as a national-level green low-carbon enterprise - Stricter environmental policies are expected to enhance the company's market competitiveness and promote industry consolidation, increasing market share [2][4] Investment in Aerospace Satellite - Yunzhongma invested **50 million** (5 million) yuan in Aerospace Satellite, acquiring a **5.2%** stake, viewing commercial aerospace as a strategic engine for new productivity [10][11] - Aerospace Satellite has a backlog of orders worth several hundred million yuan, covering dozens of satellites, but faces capacity constraints [7][8] Collaboration with New Materials Company - Following the investment in Aerospace Satellite, Yunzhongma plans to collaborate with its new materials company, Zhongxi New Materials, to validate the feasibility of ultra-high molecular weight polyethylene in satellite manufacturing components [4][12] Future Plans in Commercial Aerospace - Yunzhongma will continue to monitor developments in commercial aerospace, focusing on investments not only in satellite manufacturing but also in core components, ground terminals, and rocket storage [13] Aerospace Satellite's Competitive Advantages - Aerospace Satellite possesses full-process research and development capabilities, with a team experienced in major national defense technology projects - The company offers a high cost-performance product system, covering various fields such as remote sensing, communication, and scientific experiments, and can quickly respond to customer needs through standardized design and self-developed core components [9][6] Customer Base and Market Demand - Aerospace Satellite's customers include research institutions, commercial companies, and national project clients, indicating a diverse market demand [14] Future Expansion Plans - Aerospace Satellite plans to expand from narrowband to broadband communication in the future, aligning with national strategic developments [17][16] Product Development and Profitability - The company has developed self-researched products such as reaction wheels and magnetic torque devices, aiming to improve cost-effectiveness and service affordability for a broader customer base [21] Launch Partnerships - Aerospace Satellite collaborates with various rocket companies for launches, including Long March rockets and commercial partners, ensuring a diverse launch capability [22]

来源：市场资讯 通过天眼查大数据分析，湖南航升卫星科技有限公司共对外投资了11家企业，知识产权方面有商标信息 57条，专利信息36条，此外企业还拥有行政许可1个。 天眼查信息显示，湖南航升卫星科技有限公司的股东为：湖南航升智星企业管理合伙企业（有限合 伙）、项军华、哈工成长（岳阳）私募股权基金企业（有限合伙）、漳州市鑫投海资新兴产业投资合伙 企业（有限合伙）、长沙国科星河企业管理合伙企业（有限合伙）。 2月4日，天眼查融资历程显示，湖南航升卫星科技有限公司近日获得"A轮"融资，涉及融资金额1.6亿人 民币，投资机构为济钢集团，云中马。 资料显示，湖南航升卫星科技有限公司法定代表人为项军华，成立于2015年，位于长沙市，是一家以从 事研究和试验发展为主的企业。企业注册资本1280.0001万人民币，并已于2026年完成了A轮，交易金额 1.6亿人民币。 ...

每经AI快讯，云中马1月30日晚间发布公告称，截至本公告披露日，公司对子公司提供的担保余额约为 6.99亿元，均为公司年度担保预计额度内发生的担保，占公司最近一期经审计净资产的52.56%，公司及 公司子公司不存在向全资子公司以外的其他对象提供担保的情形，不存在逾期担保的情况。 每经头条（nbdtoutiao）——中国无人驾驶"军团"，"武装"阿布扎比 （记者 曾健辉） ...

重要内容提示： 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | | 实际为其提供的担保余 | | 是否在前期预 | 本次担保是 | | --- | --- | --- | --- | --- | --- | --- | | | | | 额（不含本次担保金额） | | 计额度内 | 否有反担保 | | 丽水云中马贸易 有限公司 | 19,611.50 元 | 万 | 40,632.20万元 | | 是 | 否 | | 浙江云中马智造 有限公司 | 2,489.29 | 万元 | 7,147.69 | 万元 | 是 | 否 | 累计担保情况 | 对外担保逾期的累计金额（万元） 0 | | | --- | --- | | 截至本公告日上市公司及其控股 | 69,880.68 | | 子公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 52.56 | | 特别风险提示（如有请勾选） | 担保金额（含本次）超过上市公司最近一 | | | 期经审计净资产 50% | | | □对外担保总额（含本次）超过上市公司最 | | | 近一期经审计净资产 100% | ...