2025年，公司持续聚焦主责主业，通过技术创新迭代、产品性能提升等举措，不断优化产品结构，巩固 在固体发动机动力模块、弹药装备等领域的技术优势，为长期可持续发展奠定坚实基础。从研发创新 看，公司持续加大研发投入，积极参与各类弹药装备和导弹(火箭)固体发动机动力模块的研制与生产， 产品竞争力持续增强。在市场开拓方面，公司紧跟国防装备建设需求，市场地位持续巩固；并积极参与 军贸市场竞争，军贸业务取得突破性进展，为后续业绩增长开辟新空间，有力支撑了营业收入的持续提 升。同时，公司总资产规模稳步扩大，归属于母公司的所有者权益持续增长，资产负债结构保持稳健， 财务风险可控，为公司后续产能扩张、技术升级和市场拓展提供了有力的资金保障。 格隆汇2月27日丨国科军工(688543.SH)公布2025年度业绩快报，报告期内，公司实现营业收入14.10亿 元，同比增长17.10%；实现归属于母公司所有者的净利润2.48亿元，同比增长24.55%；实现归属于母公 司所有者的扣除非经常性损益的净利润2.28亿元，同比增长25.85%。报告期末，公司总资产33.16亿 元，较报告期初增长4.96%；归属于母公司的所有者权益24.15亿 ...

2025年，公司持续聚焦主责主业，通过技术创新迭代、产品性能提升等举措，不断优化产品结构，巩固 在固体发动机动力模块、弹药装备等领域的技术优势，为长期可持续发展奠定坚实基础。从研发创新 看，公司持续加大研发投入，积极参与各类弹药装备和导弹(火箭)固体发动机动力模块的研制与生产， 产品竞争力持续增强。在市场开拓方面，公司紧跟国防装备建设需求，市场地位持续巩固；并积极参与 军贸市场竞争，军贸业务取得突破性进展，为后续业绩增长开辟新空间，有力支撑了营业收入的持续提 升。同时，公司总资产规模稳步扩大，归属于母公司的所有者权益持续增长，资产负债结构保持稳健， 财务风险可控，为公司后续产能扩张、技术升级和市场拓展提供了有力的资金保障。 格隆汇2月27日丨国科军工(688543.SH)公布2025年度业绩快报，报告期内，公司实现营业收入14.10亿 元，同比增长17.10%；实现归属于母公司所有者的净利润2.48亿元，同比增长24.55%；实现归属于母公 司所有者的扣除非经常性损益的净利润2.28亿元，同比增长25.85%。报告期末，公司总资产33.16亿 元，较报告期初增长4.96%；归属于母公司的所有者权益24.15亿 ...

Core Viewpoint - The company, Guokexun Military Industry, reported a strong performance in the first half of 2025, with significant growth in R&D investment and a solid order backlog, indicating a positive outlook for future earnings growth [1][4]. R&D Investment - The company's R&D investment reached 55.05 million yuan in the first half of 2025, representing a year-on-year increase of over 29.21% [2]. - Key focus areas for R&D include weapon systems, next-generation smart munitions, unmanned combat platforms, and advanced propulsion modules for missiles [2]. - As of June 30, 2025, the company had 101 ongoing projects, with a total expected investment of 517 million yuan, of which 394 million yuan has already been invested [2]. Order Status - The company has a robust order backlog, with a total contract amount of 739 million yuan signed for the year 2025, laying a solid foundation for annual performance [4]. - The company has also secured orders through government public bidding, with major clients including various marine research institutes and military enterprises [4]. Production Capacity - The company is gradually releasing production capacity through the planning and construction of specialized production lines, with a focus on improving production efficiency [4]. - Efforts are underway to optimize existing capacity for propulsion modules, aiming for an increase of over 20% to meet demand during capacity expansion projects [4]. Future Strategy - The company aims for a non-net profit return on equity of no less than 6.8%, 7.3%, and 7.8% for the years 2025 to 2027, supported by multi-dimensional strategies [5]. - Plans include expanding international business in compliance with regulations, enhancing capabilities in solid engine integration, and seeking industry chain cooperation for growth [5][6].