转自：证券时报 人民财讯8月19日电，高德红外消息，8月15日22时47分，经过约6.5小时的出舱活动，神舟二十号乘组 航天员陈冬、陈中瑞、王杰密切协同，在空间站机械臂和地面科研人员的配合支持下，圆满完成既定任 务，出舱航天员陈冬、王杰已安全返回问天实验舱，出舱活动取得圆满成功。在出舱活动中，由高德红 外自主研发的PT650旗舰版红外热像仪首次应用于中国空间站舱外巡检任务。航天员们利用这款先进设 备，对舱外关键设备进行"热特征识别"，实时捕捉设备在极端环境下的细微温度变化，为空间站进行一 次高效、无创的"CT扫描"。通过这些"热成像数据"，科学家们能够在故障萌芽阶段精准识别潜在隐患 点，例如关键部件是否存在过热风险或散热系统是否异常，为空间站的在轨安全运行和预防性维护提供 了精准的科学依据；同时，通过热特征识别也可以为航天器的优化设计提供宝贵数据。 ...

Investment Rating - The industry rating is "Recommended" [1] Core Viewpoints - The report highlights the significant investment plans of Ukraine in drone production, aiming to invest $22.5 billion by 2030 and produce approximately 18 million drones annually, with a focus on FPV drones [1][2] - The report emphasizes the growing importance of visual systems in modern drones, integrating high-resolution lenses, edge computing units, and AI algorithms for enhanced operational capabilities [2] - The report identifies infrared thermal imaging as a crucial technology for drones, enabling all-weather and all-terrain operations, thus expanding the application scope of drones in military and civilian markets [3][9] Summary by Sections Section 1: FPV Drones - FPV drones are highlighted as low-cost, high-mobility tools for modern warfare, capable of rapid acceleration and high-speed maneuvers, making them suitable for reconnaissance and attack missions [4][5] - The report notes that FPV drones can effectively evade detection and interception due to their speed and maneuverability, enhancing their survival rate on the battlefield [5][6] Section 2: Usage in Conflict - The report discusses the extensive use of small drones in the Russia-Ukraine conflict, with monthly usage rates reaching 60,000 to 70,000 units, showcasing their effectiveness in economic warfare [7] - It mentions specific examples of cost-effective drone operations, such as the Ukrainian use of a $600 drone to deplete Russian air defense systems [7] Section 3: Infrared Thermal Imaging Technology - Infrared thermal imaging technology is described as a transformative capability for drones, allowing them to operate in various environmental conditions and providing enhanced target detection and identification [11][12] - The report outlines the advantages of integrating infrared technology with drones, including non-contact detection and long-range monitoring capabilities [12] Section 4: Investment Recommendations - The report identifies key companies benefiting from the drone and infrared technology sectors, including: - Ruichuang Micro-Nano, which offers a full range of infrared products for drones [13] - Gaode Infrared, which has established partnerships with leading drone manufacturers [14] - Zhongrun Optical, known for its high-definition optical lenses for drones [15] - Lidin Optical, focusing on expanding its product offerings in the drone market [16]

Core Viewpoint - Senba Sensor's metallized optical infrared window has emerged in the gun sight field, achieving market sales and bulk supply due to its outstanding characteristics [1][2]. Group 1: Product Features - The metallized optical infrared window utilizes advanced vacuum coating technology to create infrared anti-reflective and cutoff films, effectively filtering out interference wavelengths and significantly increasing the transmittance of beneficial wavelengths [1]. - This product enables thermal imaging devices to capture clearer and more accurate thermal images, ensuring high precision and high pixel quality in subsequent imaging [1]. Group 2: Applications - The metallized optical infrared window is widely used in night vision devices, infrared detectors, infrared gun sights, reconnaissance, and attack drones [1]. - In night vision devices, it aids in achieving clear thermal detection at night, providing strong support for security patrols and field operations [2]. - In infrared detectors, it enhances sensitivity and accuracy, playing a crucial role in industrial temperature monitoring and fire warning systems [2]. - For infrared gun sights, its advantages include all-weather operational capability, penetration ability, concealment, improved hit rate, and multifunctional integration, making it indispensable in modern warfare and law enforcement [2]. - In reconnaissance and attack drones, it offers rapid response, flexible deployment, cost-effectiveness, and precise strike capabilities, which will be significant in modern warfare and emergency rescue as technology continues to evolve [2]. - The metallized optical infrared window can meet various quality and environmental adaptability requirements in complex environments, with customizable dimensions, wavelengths, and metallization thickness to satisfy different customer needs [2].

Core Insights - The company GaoDe HongRui has experienced significant growth since its IPO on July 16, 2010, with a market capitalization increase from 7.641 billion yuan to 43.263 billion yuan, reflecting a 4.66 times growth in market value [1][7] - Despite the growth in market capitalization, the company's financial performance has shown considerable volatility, with a notable decline in profitability in recent years [3][5] Business Overview - GaoDe HongRui specializes in the research, production, and sales of infrared thermal imaging products, with its core products including infrared comprehensive optoelectronic systems and traditional ammunition [3] - The revenue structure indicates that infrared comprehensive optoelectronic systems account for the highest proportion at 87.13%, followed by traditional and information-based ammunition at 10.68% [3] Financial Performance - In 2020, the company achieved a revenue of 3.334 billion yuan, which decreased to 2.678 billion yuan by 2024, indicating a downward trend in revenue [4] - The net profit attributable to shareholders dropped from 1.001 billion yuan in 2020 to a loss of 444 million yuan in 2024, showcasing a rapid decline in profitability [5] - Over the 15 years since its listing, the company has recorded a cumulative profit decline of 419.35%, with 8 out of 15 years showing profit growth, representing 53.33% of the years [3] Market Performance - The peak market capitalization of GaoDe HongRui reached 81.169 billion yuan on January 11, 2021, with the stock price rising to 50.99 yuan, but by July 15, 2024, the market capitalization had decreased by 37.906 billion yuan, a 46.70% drop from its peak [7]

Core Viewpoint - The launch of the X640F-YF600/X640F-YC600 series gas thermal imaging modules by GeWu YouXin represents a significant advancement in gas leak detection technology, addressing the limitations of traditional methods in industrial safety [1][7]. Group 1: Product Features - The X640F-YF600/X640F-YC600 series utilizes a 640*512 resolution uncooled infrared detector, providing detailed imaging that aids in identifying small leak points [3]. - It features dual-mode detection capabilities, combining gas leak detection with high-precision temperature measurement (±2℃/±2% accuracy), enhancing inspection efficiency [3]. - The module is designed with an IP54 protection rating, a wide operating temperature range (-20℃ to 150℃), and a lightweight structure (approximately 300 grams), making it suitable for harsh industrial environments [3]. Group 2: Application Scenarios - The thermal imaging module is applicable in various industries, including: - Power industry: Detecting SF6 gas leaks in high-voltage GIS equipment and transformers [4]. - Petrochemical: Monitoring VOCs (such as ethylene and propylene) and toxic gases (like ammonia and vinyl chloride) in pipelines, valves, and storage tanks [4]. - Manufacturing: Identifying leaks in compressed air systems and refrigerants [4]. - Environmental monitoring: Visual monitoring of factory exhaust emissions [4]. Group 3: Software and Integration - The X640F-YF600/X640F-YC600 series supports various software features, including rich image palettes, image tagging, and timestamped temperature data playback and analysis [5]. - It can efficiently output full radiation temperature data streams, single-frame temperature images, and real-time video streams, compatible with mainstream network protocols such as TCP/IP, HTTP, RTP/RTSP, and ONVIF, facilitating seamless integration into existing industrial monitoring or automation systems [5]. Group 4: Company Overview - GeWu YouXin is a well-known domestic manufacturer of infrared thermal imaging equipment, focusing on the research, production, and sales of high-end thermal imaging cameras and related core modules [7]. - The release of the X640F-YF600/X640F-YC600 series marks an important progress in the application of domestic infrared thermal imaging technology in industrial safety, aiming to enhance industrial safety production levels and reduce operational risks [7].

Core Insights - The article highlights the increasing safety risks posed by aging buildings in urban areas, emphasizing the need for advanced inspection solutions to address these issues [1][2][3] Group 1: Company Overview - Shenzhen Ruijie (300977.SZ) has developed an "AI + Drone" solution to enhance building facade inspections, addressing the inefficiencies and risks associated with traditional manual inspections [1][2] - The company integrates drone technology, infrared thermal imaging, and AI to provide comprehensive and efficient facade defect inspections, significantly improving detection rates from 61% to 93% [2] Group 2: Industry Context - The article notes a concerning trend of increasing safety incidents related to building facade deterioration, with over 1,300 reported accidents in 2024 alone, resulting in significant economic losses [2] - By 2024, approximately 20% of buildings in urban areas will be over 30 years old, with projections indicating that 80% of existing buildings will reach "old age" by 2040, further exacerbating safety concerns [2][3] Group 3: Legal Implications - According to the Civil Code, property owners and managers may bear liability for damages caused by falling building elements unless they can prove no fault, highlighting the importance of regular inspections [3] Group 4: Market Position and Growth Potential - Shenzhen Ruijie has successfully implemented its drone inspection services across various sectors, including industrial parks, commercial buildings, schools, and residential areas, gaining high customer recognition [3] - The company is leveraging its brand influence, service system, and technological expertise to explore new business opportunities, indicating strong growth potential in the engineering consulting industry [3]

本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不 确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 国科天成科技股份有限公司 （北京市海淀区北清路 81 号一区 4 号楼 9 层 901 室） 首次公开发行股票并在创业板上市 招股说明书 （上会稿） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招股 说明书（上会稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资 者应当以正式公告的招股说明书作为投资决定的依据。 保荐机构（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 私募基金股东备案情况 国科天成科技股份有限公司 招股说明书（上会稿） 重要声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注 册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人 ...

私募基金股东备案情况 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不 确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 国科天成科技股份有限公司 （北京市海淀区北清路 81 号一区 4 号楼 9 层 901 室） 首次公开发行股票并在创业板上市 招股说明书 （申报稿） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招股 说明书（申报稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资 者应当以正式公告的招股说明书作为投资决定的依据。 重要声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注 册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由 发行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担股票依法发行后因发行人 ...