Fundraising Plan - The company plans to raise a total of RMB 248,846.82 million through a targeted stock issuance, with the net proceeds allocated to specific projects [1] - The total investment for the projects is RMB 254,872.11 million, indicating that any shortfall in raised funds will be covered by the company’s own resources [1] Project Overview - The "Star Map Cloud Space Information Cloud Platform" project has a total investment of RMB 77,397.04 million and aims to build a comprehensive cloud platform for space information [1] - The project is expected to take 36 months and is located in Hefei, Anhui Province, focusing on creating a robust developer ecosystem for space information applications [1] Industry Growth - The commercial aerospace industry in China has seen rapid growth, with market size increasing from RMB 0.6 trillion in 2018 to RMB 1.9 trillion in 2023, reflecting an annual growth rate of 23% [2] - The industry is projected to exceed RMB 2.3 trillion in 2024, driven by increased launch activities and supportive government policies across various regions [2] Technological Advancements - The rise of artificial intelligence and advanced computing technologies is transforming the aerospace industry, necessitating the development of new applications and platforms [3][4] - The company aims to leverage these technological advancements to enhance its existing digital earth platform and improve its competitive edge [4] Strategic Positioning - The company is positioning itself to become a leading provider of space big data systems and services, aligning with national policies that support the aerospace industry [5][6] - The strategic focus includes expanding into satellite manufacturing, rocket operations, and satellite applications, which are essential for the company's growth [5] Project Significance - The "Star Map Low Altitude Cloud Supervision and Flight Service Digital Infrastructure" project has a total investment of RMB 66,765.09 million and aims to create a comprehensive digital service platform for low-altitude operations [8] - This project is crucial for enhancing low-altitude flight safety and efficiency, responding to national strategies for low-altitude economic development [9] Market Opportunities - The low-altitude economy is emerging as a new growth engine for the domestic economy, with increasing demand for digital infrastructure and services [10][12] - The company is actively developing a low-altitude cloud service platform to capitalize on this market opportunity and enhance its service offerings [11] Financial Health - The company has experienced significant revenue growth, with a 51.62% increase in revenue, necessitating additional working capital to support ongoing operations [24] - The fundraising will improve the company's capital structure and financial stability, enabling it to pursue strategic initiatives effectively [26] Conclusion - The fundraising and associated projects align with national development policies and the company's strategic goals, promising substantial economic and social benefits [26] - The successful implementation of these projects is expected to solidify the company's leading position in the aerospace industry and enhance shareholder value [26]

Core Viewpoint - The company plans to issue A-shares to raise funds not exceeding 248,846.82 million yuan to enhance its capital strength and profitability, aligning with the growth of the aerospace information industry, which is expected to exceed one trillion yuan by 2025 [1][3]. Group 1: Background and Purpose of the Issuance - The aerospace information industry is a strategic emerging sector that integrates space technology and information services, with significant growth potential as countries invest heavily in this area [1][3]. - The issuance aims to capitalize on the opportunities presented by the rapid development of the aerospace information industry, enhancing the company's operational capabilities and performance [4][5]. Group 2: Investment Projects - The funds raised will be allocated to several key projects, including the construction of the Star Map Cloud Aerospace Information Cloud Platform and the Star Map Low Altitude Cloud Supervision and Flight Service Digital Infrastructure [4][19]. - These projects are designed to support the company's transition to a comprehensive aerospace service provider, enhancing its competitive edge in the low-altitude economy and commercial aerospace sectors [5][19]. Group 3: Market and Policy Environment - The central government has prioritized the development of strategic emerging industries, including commercial aerospace and low-altitude economy, creating a favorable policy environment for growth [3][4]. - Various provinces are implementing supportive policies to boost the aerospace information sector, indicating a strong market demand and growth potential [3][4]. Group 4: Financial Implications - The issuance is expected to improve the company's financial health by increasing liquidity and reducing debt pressure, thereby enhancing its ability to invest in growth opportunities [6][8]. - The company anticipates that the successful implementation of the fundraising projects will lead to improved profitability and market position, benefiting shareholders [9][24]. Group 5: Fairness and Compliance of the Issuance - The issuance plan has been approved by the company's board and complies with relevant laws and regulations, ensuring transparency and fairness for all shareholders [15][24]. - The selection of specific investors for the issuance is deemed appropriate, adhering to regulatory standards and ensuring that the company maintains a stable capital structure [10][16].

据悉，"AIRSAT-05星/海哨二号"卫星指标国际领先，该星面向天基SAR陆-海-冰跨圈层观测国际科技前 沿，面向新域探索国家重大需求，面向商业航天战略性新兴产业主战场，是我国空天信息领域科技创新 与产业创新"双创"深度融合发展的典范与标杆。 该卫星由中国科学院空天信息创新研究院、中科卫星科技集团有限公司等单位联合研制，并得到了国家 重大专项支持。卫星与2024年12月发射的"AIRSAT-08星/海哨一号"低倾角轨道卫星以及AIRSAT星座多 颗在轨卫星形成多轨道面、多维度、多频段观测体系，将对海洋环境与安全、极地科考与航运、国土资 源调查、灾害应急等应用发挥重要支撑作用。 该卫星主载荷为X波段多极化合成孔径雷达，支持多种工作模式，成像最高分辨率优于1米，最大观测 幅宽超300千米。星上集成了智能化在轨处理模块，可实现高质量在轨雷达成像和冰、海信息智能提 取，并可与地面移动载具实现星地信息的双向互联互通，大幅提升遥感卫星观测服务时效性。 新京报讯(记者张建林)8月19日，我国首颗具备全极化业务化观测能力的商业SAR卫星"AIRSAT-05星/海 哨二号"，在酒泉卫星发射中心发射升空，卫星顺利进入预定轨道， ...

在模拟沙盘上，卫星与无人机、浮空器等共同服务新型电力系统源网荷储整体运行生态。"通过卫星直 连终端，可以解决海底电缆巡检的无信号难题。"据工作人员介绍，利用卫星的定位、遥感等技术，还 能开展抽蓄电站边坡沉降监测、输电线路风偏舞动监测、无人机巡检、光伏发电功率监测等，他们还研 发出电力专用北斗模组，探索应用更多场景，同时在望岳智谷顶楼安装了2个北斗天线，为研发、测试 提供信号基准。 为了更好赋能电力行业应用，研究中心重点聚焦低轨卫星的运行特性，构建了覆盖通信、导航、遥感三 大领域的星座协同数字化仿真系统，已完成了千帆星座、星网星座、北斗星座、吉林一号、高分星座等 通导遥卫星在轨数据模拟，具备多星座协同仿真、过境预测与链路分析的能力。目前，电力北斗精准服 务平台部署了169个北斗基准站，与卫星构成精准位置服务网，去年开始服务山东全域2852架无人机、 568个无人机场，依靠厘米级高精度定位，规划航线、提供导航、自主巡检。无人机携带远红外摄像头 等执行消缺巡查、通道环境巡检等任务，利用AI技术辅助发现隐患，及时处置。每年飞行超20万架 次，确保了输电线路的安全稳定运行。 截至上半年，山东累计并网光伏发电装机容量达到 ...

Core Viewpoint - The Fourth Global Digital Trade Expo aims to promote digital trade innovation and development, focusing on four key sectors: aerospace information, artificial intelligence, smart logistics, and aerospace [5][12][28]. Group 1: Event Overview - The event will take place on August 8, 2025, in Xi'an, organized by the Global Digital Trade Expo Organizing Committee, with ICBC as the exclusive naming unit [7][50]. - The expo serves as a national-level platform for digital trade, facilitating the connection between innovative projects and capital [5][9]. Group 2: Key Activities - The "Digital Trade Investment Day" will feature project roadshows, one-on-one negotiations, and thematic discussions to enhance interaction between tech startups and investors [10][23]. - Selected projects will receive strategic guidance from industry mentors and have opportunities for deep incubation [8][10]. Group 3: Focus Areas - The four highlighted sectors are: - **Aerospace Information**: Integrating aviation, aerospace, and information technology to enhance trade efficiency through data-driven solutions [14][15]. - **Artificial Intelligence**: Utilizing advanced algorithms to improve trade efficiency and operational models across various industries [16][17]. - **Smart Logistics**: Employing IoT, big data, and AI to optimize logistics processes, thereby enhancing global trade flow [18]. - **Aerospace**: Leveraging space technology to expand trade boundaries and improve logistics and communication systems [21]. Group 4: Strategic Importance - The event aims to break down information barriers between capital and innovative projects, fostering a collaborative ecosystem among government, capital, and industry [9][10]. - The expo is positioned as a critical platform for reshaping global economic governance through digital trade [5].

Core Insights - The "Three New" economy in China achieved a value-added of 242,908 billion yuan in 2024, growing by 6.7% year-on-year, which is 2.5 percentage points higher than the GDP growth rate [1] - The "Three New" economy accounted for 18.01% of GDP, an increase of 0.43 percentage points from the previous year [1] Group 1: Economic Performance - The "Three New" economy is characterized by new industries, new business formats, and new business models, which are essential for economic activities [1] - The rapid development of the "Three New" economy has created more job opportunities, improved labor productivity, and promoted consumption upgrades [1] Group 2: Trends and Developments - The "Three New" economy is experiencing three major trends: leading growth and structural upgrades, expansion into new fields driven by technology, and regional collaboration [2] - Emerging industries such as digital economy, smart manufacturing, and life health are developing rapidly, contributing to the upward momentum of the economy [2] Group 3: Recommendations for Development - Suggestions for strengthening the foundation of the "Three New" economy include deepening the market-oriented allocation of data elements, enhancing regulatory innovation, and aligning with international standards [2]

Core Viewpoint - The Jinan Municipal Government is implementing an industrial development strategy focused on transforming and upgrading industries, with a particular emphasis on creating a new urban industrial zone in the western part of the city center to support new productive forces [1][3]. Group 1: Development Strategy - The Jinan urban industrial zone will cover approximately 15,000 acres with a total construction area exceeding 10 million square meters, including about 7,000 acres designated for industrial and logistics use [3]. - The development model emphasizes three aspects: active mechanisms, clear pathways, and high efficiency, aiming to integrate manufacturing with services and innovation [3]. Group 2: Future Goals - The district aims to establish a systematic, efficient, innovative, and collaborative industrial support system, targeting an additional output value of 130 billion yuan and tax revenue of 6.5 billion yuan by 2035 [4]. Group 3: Infrastructure and Services - Infrastructure improvements include completed roads and power supply projects, with a focus on enhancing public services and educational resources to meet community needs [5]. - The area has seen the completion of high-end residential projects totaling 475,000 square meters, significantly improving living standards [5]. Group 4: Project Attraction and Funding - The district is leveraging various funds to attract technology-driven enterprises, with a total fund reserve of 8.55 billion yuan, facilitating the establishment of new industrial parks and projects [6]. - Over 30 projects in aerospace, low-altitude economy, and advanced manufacturing are in the pipeline, with plans to onboard more than 16 companies by the end of the year [6].

Group 1 - Jinan Licheng District is focusing on the development of future industries, particularly in aerospace information and artificial intelligence [1][3] - The district has established an aerospace city project in the Lingang Economic Development Zone, attracting 12 related enterprises, including Jinan Steel Defense and DinoLite New Materials [1][3] - The industrial output value in the Lingang Economic Development Zone is projected to reach 22.4 billion RMB in 2024, accounting for 58.6% of the total industrial output in Licheng District [3] Group 2 - The district is promoting strategic cooperation between Jinan Steel Group and leading companies like Xi'an Lingkong and Beijing Xinghe Power in advanced manufacturing sectors [1][3] - The district is leveraging a "fund + project" model to invest in the development of a two-stage reusable rocket manufacturing base [1][3] - The establishment of an industrial internet public service platform aims to integrate AI, 5G, and big data with manufacturing, fostering smart transformation and digital upgrades [4][5] Group 3 - Jinan Bond Laser Co., Ltd. is a leading enterprise in the laser processing equipment sector, focusing on advanced research and achieving full autonomy in core components production [6][7] - Linuo Power's smart factory utilizes AI models and machine vision technology to enhance its production processes, positioning itself as a benchmark for intelligent manufacturing [9] - Licheng District has been recognized multiple times for its economic development and innovation, contributing significantly to Jinan's industrial strength [9]

Core Viewpoint - The low-altitude economy is evolving into a significant market, with estimates suggesting it could reach a scale of 10 trillion yuan, indicating it is not merely an industry but an economic system formed by multiple industries [1]. Industry Development - The low-altitude economy is recognized as a new productive force, with local policies being rapidly implemented to support its development [3]. - The current management structure for low-altitude economy development is primarily at the provincial and municipal levels, focusing on establishing unified flight service regulatory platforms [3]. - Various regions, including Hubei, Tianjin, Guangdong, and Jiangsu, have begun testing provincial low-altitude flight service platforms since June [3]. Infrastructure Investment - The initial investment and operational costs for low-altitude economy infrastructure are substantial, similar to the costs associated with metro or highway networks [4]. - It is recommended to proceed in an orderly manner with initial investments, focusing on essential infrastructure like take-off and landing sites before expanding further [4]. Safety Considerations - Ensuring safety is crucial for the orderly development of the low-altitude economy, with airspace and flight safety being significant bottlenecks [6]. - The company is providing high-precision terrain and environmental information to enhance flight safety and avoid collisions [6]. Business Development - The establishment of the low-altitude cloud platform by the company is a result of its accumulated experience in the low-altitude economy sector, aiming to support investment and development [6]. - Future business development will focus on regions with high enthusiasm for low-altitude economy, such as Chongqing, Jiangsu, and Xiamen, to build experience and capabilities [7].

Core Viewpoint - The collaboration between Zhongke Xingtou and Zhongke Shuguang aims to advance "space computing" technology innovation and application through a framework agreement signed at the "2025 Aerospace Information Conference" [1][3]. Group 1: Collaboration Details - The partnership will focus on developing core technologies, computing power, and data services for the aerospace information industry, supporting the intelligent and three-dimensional development of China's digital economy [3]. - Both companies will work together to create high-performance, low-power, and highly reliable core components for space computing scenarios, promoting full-chain technological innovation from "chip - complete machine - computing network - data - application - ecosystem" [3][4]. - An open and inclusive space computing network will be established, integrating a collaborative intelligent computing architecture that covers "user (end) - satellite (edge) - space-based (cloud) - ground (cloud)" [3][4]. Group 2: Application and Impact - The collaboration will promote a model of "on-orbit intelligent processing + ground deep application," creating replicable and scalable industry application benchmarks across various sectors, including emergency rescue, meteorology, marine, agriculture, and emerging fields like low-altitude airspace management and electromagnetic sensing [4]. - The partnership aims to empower multiple industries such as communication, environmental monitoring, intelligent transportation and navigation, edge computing, and the Internet of Things, unleashing the innovative potential of "aerospace × computing power" [4]. - The closed-loop system will be built using Zhongke Xingtou's aerospace information data resources combined with Zhongke Shuguang's supercomputing center and cloud computing platform [4][6]. Group 3: Company Background - Zhongke Xingtou, established in 2006 and listed on the Shanghai Stock Exchange in July 2020, focuses on the digital earth industry, integrating satellite remote sensing, geographic information, artificial intelligence, and cloud computing [6]. - Zhongke Shuguang, a national high-tech enterprise, specializes in high-end computers, storage, security, and data centers, possessing a complete industrial chain from server hardware to cloud computing services [6].