事件：8 月21 日，公司发布2025 年半年报，1H25 实现营收1.3 亿元，YOY+61.7%；归母净利润-0.36 亿 元，1H24 为-0.53 亿元；扣除股份支付影响后的净利润为-0.33 亿元，1H24 为-0.53 亿元。业绩表现符合 市场预期。得益于低空经济快速发展，公司上半年营收同比快速增长，利润端同比减亏，我们点评如 下： 2Q25 业绩环比增长显著；1H25 利润率有所提升。1）单季度：公司2Q25实现营收1.0 亿元，同比增长 71.2%，环比增长147.3%；2Q25 实现归母净利润-0.08 亿元，1Q25 为-0.28 亿元，2Q24 为-0.24 亿元， 利润端同比及环比均有明显改善。2）利润率：公司1H25 毛利率同比提升4.0ppt 至53.2%；净利率同比 提升36.1ppt 至-28.2%。其中，2Q25 毛利率同比提升5.7ppt 至53.9%；净利率同比提升33.5ppt 至-9.7%。 海内外双线突破；多领域纵深渗透。1H25，1）产品研发方面：公司全新升级JOS-C700 垂直起降固定 翼无人值守系统，在环境适应性、智能化水平和应急响应能力上实现突破。全新推出 ...

8月22日，全省进一步全面深化改革工作推进会议暨全省改革办主任第三次会议在沈阳召开。会议 深入学习贯彻习近平总书记关于全面深化改革的重要论述，认真落实中央及省委改革要求，对全省重点 改革任务进行部署推动。省委常委、秘书长、省委改革办主任姜有为出席会议并讲话。 会议强调，要扎实推进标志性改革任务和重要国家级改革试点，围绕建立支持低空经济发展机制、 深化零基预算改革、开发区体制机制改革、公共资源交易改革、国企"三能"机制改革、职务科技成果赋 权改革、实施自贸试验区提升战略、数据要素综合试验区试点、"人工智能+"行动等重点任务，在完善 总体设计、健全配套制度、加强组织攻坚、推进探索创新等方面持续加大工作力度，学习借鉴先进地区 经验做法，加快形成一批具有辽宁辨识度的改革成果。 会议要求，要压实改革责任，充分发挥各级改革办、专项小组办公室、省直牵头部门职能作用，狠 抓改革任务落实，为打好打赢决胜之年决胜之战作出更大贡献。 会议指出，全省改革系统要进一步增强责任感紧迫感，坚持系统思维和问题导向，统筹推进各领域 改革，纵深推进重点领域和关键环节改革，切实增强改革效能，为辽宁全面振兴新突破提供强大动力。 ...

Core Insights - The "Sky Mart" represents an innovative retail model that utilizes drone delivery to enhance shopping convenience and efficiency [3][4] - The supermarket has applied for three drone delivery routes, covering a radius of approximately 5 kilometers, with a delivery speed of about 10 meters per second [4] Group 1: Company Overview - The "Sky Mart" is located in the Henan Low Altitude Economic Industrial Park and spans an area of 8,600 square meters [3] - The supermarket features a combination of online and offline shopping experiences, with smart shopping carts accompanying customers throughout their shopping journey [3][4] Group 2: Drone Delivery System - The drone delivery system allows consumers to place orders via mobile phones, with products delivered directly to their homes [3][4] - The logistics drones have a maximum payload capacity of 40 kilograms, and the average time from order placement to delivery is generally under 15 minutes [4] Group 3: Industry Implications - The introduction of the "Sky Mart" is seen as a significant innovation in retail, breaking geographical and transportation limitations, and reshaping the relationship between people, goods, and shopping environments [4] - The low-altitude economy is rapidly evolving, unlocking new applications and scenarios for drone technology in various sectors [5]

Financial Performance - The company reported a total revenue of 135 million yuan for the first half of 2025, representing a year-on-year increase of 61.72% [1] - The net profit attributable to shareholders was -36.34 million yuan, an improvement of 31.47% compared to the previous year [1] - The gross margin increased to 53.23%, up 12.94% year-on-year, while the net margin improved to -28.15%, a 56.15% increase [1] - Total expenses (selling, administrative, and financial) amounted to 78.51 million yuan, accounting for 58.3% of revenue, a decrease of 25.3% year-on-year [1] Balance Sheet Highlights - Inventory saw a significant increase, with a year-on-year growth of 44.69% [1] - Cash and cash equivalents decreased by 40.8% due to increased payments for goods and investment expenditures [2] - Long-term equity investments surged by 286.45% due to increased investment in a subsidiary [2] - The company’s total liabilities decreased by 32.56%, reflecting a reduction in interest-bearing debt [1][2] Operational Insights - The company focuses on the development, production, and sales of industrial drone products, positioning itself as a leading player in the domestic market [7] - The product lineup includes various types of drones, such as vertical take-off fixed-wing drones and multi-rotor drones, catering to diverse applications [8] - The company has established a comprehensive system for drone applications, integrating cloud platforms and industry-specific solutions [7] Market Position - The company is recognized for its core technological advantages in intelligent control and drone design, with some products reaching international standards [7] - Recent financial reports indicate a general trend of improving operational metrics, although the company has faced challenges in achieving positive net profits historically [5]

风险提示：市场有风险，投资需谨慎。 康希通信主营业务为半导体相关技术研发，涉及低空经济、星闪概念及车联网等领域。公司注册地位于 上海，总市值59.94亿元，流通市值43.84亿元。 截至2025年8月22日15时，康希通信股价报14.12元，较前一交易日上涨0.31元，涨幅2.24%。当日开盘 价为13.84元，最高触及14.22元，最低下探13.70元，成交额1.87亿元，换手率4.28%。 资金流向方面，8月22日主力资金净流出180.46万元，近五日累计净流出1605.98万元。 消息面上，康希通信公告称，公司2025年员工持股计划已完成股票非交易过户。此次过户涉及569，198 股，占公司总股本的0.1341%，过户价格为5.81元/股。 ...

他表示："省域经济这块，需求目前还是蛮大的，因为前期几乎是没有的。我们是地方大学，承载 着这个地方人才培养的任务，所以政府提出了，在产业发展背景下需要专业人才去配套。我们就有两个 博士点，一个硕士点支撑了这个交叉学科的发展。" 南京邮电大学也是拟增设该专业的高校之一。专业负责人、南京邮电大学通信与信息工程学院院长 邹玉龙告诉记者，学校增设这个专业有很好的基础。 央广网北京8月23日消息（总台记者管昕 钱成）据中央广播电视总台中国之声《新闻纵横》报道， 近日，教育部发布《2025年度普通高等学校本科专业申报材料公示》。从申报的专业类型来看，2025年 度申报的专业中，低空技术与工程拟新增数量最多，共有120所高校。 低空经济是指以低空空域为依托，以各种有人驾驶和无人驾驶航空器为载体，通过载人、载货及其 他作业等多场景低空飞行活动为牵引，辐射带动相关领域融合发展的综合性经济形态。 2023年12月召开的中央经济工作会议已把低空经济列入战略性新兴产业。当前，低空经济正以惊人 的速度崛起。目前，已有6所高校首批开设低空技术与工程专业。更多高校拟增设该专业，将如何助力 低空经济产业高质量发展？ 安徽大学是拟新增低空技术 ...

【DT新材料】 获悉，8月21日，高端聚烯烃产品研发商 合肥中科科乐新材料有限责任公司 （简称：中科科乐）宣布完成新一轮股权融资。本轮融资 由TCL创投、招商局创投、合肥国晶创业投资合伙企业（有限合伙）等九家机构联合投资。 资料显示， 中科科乐 成立于2022年，位于安徽合肥。它以中国科学技术大学化学与材料科学学院 陈昶乐 教授课题组、安徽大学物质科学与信息技术 研究院等高校和科研院所为支撑，是一家以高端聚烯烃催化剂开发、高端聚烯烃材料研发为发展目标方向的企业。2024年，公司获国家级潜在独角兽 企业荣誉称号。 公司自主研发的乙烯基聚烯烃弹性体（E-POE）粒子， 以乙烯为单一原料，通过公司拥有完全自主知识产权的"镍系催化剂技术"， 经一步聚合反应 高效制得，打破了技术封锁。 此外，公司还通过其独特的 "环管工艺溶液聚合制备"专利技术， 引入一体式双环管反应装置和在线粘度监测系统，确 保了聚合过程的高效与稳定，为大规模、高品质生产提供了坚实保障。 公司产品 能显著提升组件的耐候性和抗PID（电势诱导衰减）性能，为太阳能电池提供更长久、更可靠的保护， 并在新能源汽车赛道，凭借其优异的 弹性和轻量化特性，成为汽车 ...

在消息面上，宗申动力被列入低空经济概念股。有分析指出，低空经济作为国家战略新兴产业，未来发 展空间广阔。宗申动力作为上游部件供应商，有望受益于行业的发展。 截至2025年8月22日15时0分，宗申动力最新股价为25.89元，较前一交易日收盘价上涨0.48元，涨幅为 1.89%。当日开盘价为25.35元，最高价25.97元，最低价25.25元，成交量为524560手，成交额达13.50亿 元。 宗申动力属于交运设备板块，公司主营业务涵盖摩托车发动机及零部件的研发、生产和销售。公司产品 广泛应用于摩托车、通用机械等领域。 风险提示：股市有风险，投资需谨慎。 来源：金融界 资金流向方面，宗申动力当日主力资金净流出798.09万元，占流通市值比为0.03%。近五日主力资金净 流出220.26万元，占流通市值比为0.01%。 ...

Investment Rating - The report indicates a positive investment sentiment towards the computing chip sector, highlighted by a collective surge in stock prices on August 22, 2025, with the Shanghai Composite Index surpassing 3800 points [2][15]. Core Insights - The report emphasizes the significant market performance on August 22, 2025, with the Shanghai Composite Index rising by 1.45%, the Shenzhen Component Index increasing by 2.07%, and the ChiNext Index climbing by 3.36%. The total market turnover reached 25,788.40 billion, an increase of 1,185.04 billion from the previous trading day [2][15]. - It notes that all 30 sectors in the CITIC first-level industry index experienced an upward trend, particularly in electronics (4.91%), telecommunications (3.68%), and computing (3.45%), while banking, oil and petrochemicals, and agriculture sectors lagged behind [20]. Market Performance - On August 22, 2025, the main indices showed strong performance, with the Shanghai Composite Index at 3,825.76, the Shenzhen Component Index at 12,166.06, and the ChiNext Index at 2,682.55, reflecting a robust market environment [7][17]. - The overall market saw 2,802 stocks rise against 2,396 that fell, indicating a bullish sentiment among investors [15]. Sector Analysis - The report categorizes market performance by style, ranking growth stocks above financials, cyclical, stable, and consumer sectors. The overall performance of the CSI All Share Index outperformed the fund-heavy stocks [20]. - In terms of sector performance, the electronics, telecommunications, and computing sectors led the gains, while banking, oil and petrochemicals, and agriculture sectors showed declines [20]. Fund Flow Analysis - On August 22, 2025, the main funds saw a net inflow of 254.19 billion, with large orders contributing significantly to this inflow, while medium and small orders experienced outflows [24]. - Southbound capital also saw a net inflow of 51.65 billion HKD, indicating strong interest from foreign investors in the Chinese market [26]. ETF Fund Flow - The report highlights that most ETFs, including the Shanghai 50 and CSI 300, experienced a decrease in trading volume compared to the previous day, with notable inflows into the ChiNext ETF [28]. - Specific ETFs showed varied performance, with the Huaxia Shanghai 50 ETF and Huatai-PB CSI 300 ETF seeing increases in trading volume, while others like the Jiashi CSI 300 ETF experienced declines [28]. Global Market Performance - The report notes mixed performances in major global indices on August 22, 2025, with the Hang Seng Index rising by 0.93% and the Nikkei 225 Index slightly up by 0.05%, while the Australian S&P 200 Index fell by 0.57% [32][33].

Investment Rating - The report maintains a "Recommended" rating for the company, considering its leading position and multi-field layout both domestically and internationally [4][6]. Core Viewpoints - The company achieved a revenue of 130 million yuan in 1H25, representing a year-over-year growth of 61.7%, while the net profit attributable to the parent company improved to -36 million yuan from -53 million yuan in 1H24 [1]. - The second quarter of 2025 saw significant growth, with a revenue of 100 million yuan, a year-over-year increase of 71.2% and a quarter-over-quarter increase of 147.3% [1]. - The company is expanding its market presence through innovative product development and a comprehensive low-altitude data service system, which is being applied in various regions [2]. - Research and development investments have increased by 13.4%, reinforcing the company's technological barriers [3]. Summary by Sections Financial Performance - In 1H25, the gross profit margin increased by 4.0 percentage points to 53.2%, and the net profit margin improved by 36.1 percentage points to -28.2% [1]. - The company reported a net cash flow from operating activities of -80 million yuan in 1H25, an improvement from -100 million yuan in the same period last year [3]. Market Expansion - The company has launched new products, including the JOS-C700 and JOS-P200 unmanned systems, enhancing its capabilities in various applications such as logistics and emergency response [2]. - The company is actively pursuing international market opportunities, particularly in regions aligned with the Belt and Road Initiative [2]. Research and Development - The company has reduced its expense ratios significantly, with the R&D expense ratio decreasing by 4.3 percentage points to 19.4% [3]. - The focus on R&D is aimed at solidifying the company's competitive edge in the industrial drone sector [3]. Profit Forecast - The projected net profits for 2025, 2026, and 2027 are 7 million yuan, 60 million yuan, and 125 million yuan, respectively, indicating substantial growth potential [5].