（文章来源：证券日报） 证券日报网讯广电计量8月13日在互动平台回答投资者提问时表示，低空经济是公司重点布局和关注的 业务领域，正在大力完善相关一站式检测能力，积极围绕"初始适航"和"持续适航"业务开展适航咨询、 检验检测等服务，同时，公司积极与各区域建立联合低空经济试验室，持续赋能低空经济发展，相关订 单增长良好。公司通过定向增发，进一步加强航空装备的检测平台建设，持续完善服务能力和产能建 设，满足中国低空经济发展需求。 ...

Core Viewpoint - The company is facing price pressure in the traditional automotive testing business but is implementing a technology-driven strategy to innovate and optimize its business structure, leading to stable order growth [2] Group 1: Business Challenges - The traditional automotive testing business has experienced price decline pressures over the past two years [2] Group 2: Strategic Response - The company is actively pursuing innovation and has adopted a technology-led strategy to address the challenges in its traditional business [2] - The company is continuously promoting innovative business to replace traditional business, creating a rolling cycle mechanism for service product tiers [2] Group 3: Business Performance - The company has been expanding new testing services based on its technological capabilities, resulting in ongoing optimization of its business structure [2] - Orders for the company's services have maintained stable growth [2]

（文章来源：证券日报） 证券日报网讯广电计量8月13日在互动平台回答投资者提问时表示，目前公司可解决高端芯片的微小、 多层缺陷的识别与暴露，通过InGaAs、OBIRCH和Thermal热点设备可以精确捕捉到芯片内部微小的电 应力、工艺结构等缺陷造成的漏电或短路异常，通过高分辨纳米管CT可以用无损定位2.5D、3D高阶封 装内部的微小缺陷，同时可以结合DPA/DB-FIB/P-FIB/TEM进行先进封装芯片的封装工艺监控、高阶芯 片如4nm工艺改进等，为高端算力芯片的设计与制造提供验证及分析服务。 ...

广电计量（002967.SZ）8月13日在投资者互动平台表示，华东检测基地投入使用后，能与上海、杭州检 测基地形成优势互补、资源整合，提升公司在长三角地区的整体检测实力。检测基地陆续投入使用，减 少公司的场地租赁成本，降低公司的运营成本，增加长期稳定发展能力。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：华东检测基地投入使用后产能利用率如何？是否存在 区域竞争加剧？ ...

Group 1 - The stock price of Xicet Testing closed at 67.10 yuan on August 12, down by 0.40 yuan, a decline of 0.59% [1] - The stock reached a high of 68.38 yuan and a low of 65.81 yuan during the trading day, with a fluctuation of 3.81% and a total trading volume of 372 million yuan, resulting in a turnover rate of 9.53% [1] - The company's current total market capitalization is 5.663 billion yuan, with a circulating market value of 3.912 billion yuan [1] Group 2 - Xicet Testing's main business includes environmental and reliability testing services for military equipment and civil aircraft products, covering various sectors such as professional services, low-altitude economy, and storage chips [1] - The company is registered in Shaanxi Province and holds the qualification of a specialized and innovative enterprise [1] Group 3 - On August 12, the net outflow of main funds was 205,000 yuan, accounting for 0.01% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 49.6608 million yuan, representing 1.27% of the circulating market value [1]

格隆汇8月12日｜东吴证券研报指出，广电计量AI芯片国产化+高端PCB扩产，建议关注已有配套检测 服务布局的龙头企业。广电计量自2018年起以自建的方式布局集成电路测试与分析，板块成长性领先， 目前测试能力可覆盖4nm，CNAS认证的检测项目类别目前行业排名第一。同时，公司已前瞻性布局AI 芯片等相关业务，于行业成长拐点之时把握机遇，未来成长性可期。广电计量可为AI芯片提供全生命 周期质量管控服务，且具备口碑、技术、人才和设备优势，将持续受益。另外，公司拟定增不超过13亿 元投向航空装备、AI芯片、卫星互联网等测试平台，中长期成长动力充足。维持"增持"评级。 ...

Group 1 - The company N Guangjian Technology (301632) was listed today, opening with a significant increase of 397.87%, and by the end of the morning session, the increase expanded to 425.91% with a trading volume of 47.7062 million shares and a transaction amount of 1.593 billion yuan, resulting in a turnover rate of 69.28% [2][3] - The company's primary business focuses on inspection and testing technology services in the construction engineering sector [3] - The total number of shares issued in this offering was 105 million, with an online issuance volume of 29.3045 million shares at an issuance price of 6.56 yuan per share, resulting in an issuance price-to-earnings ratio of 26.48 times, compared to the industry average of 36.57 times, and the final online issuance winning rate was 0.0235656875% [3] Group 2 - The initial fundraising amount for the company was 687 million yuan, which will primarily be allocated to the construction of an innovation technology research institute headquarters and the establishment of a testing and marketing service network [3]

可转换债券简称可转债，是一种可以在特定时间、按特定条件转换为普通股票的特殊企业债券，兼具债 权和股权的特征。一般而言，持有人可按照发行时约定的价格将债券转换成公司的普通股票的债券。如 果债券持有人不想转换，则可以继续持有债券，直到偿还期满时收取本金和利息，或者在流通市场出售 变现。 8月12日，信测转债盘中下跌2.17%报133.836元/张，成交额9416.79万元，转股折价率1.41%。 资料显示，信测转债信用级别为"AA-"，债券期限1.8329年（第一年0.20%、第二年0.50%、第三年 1.00%、第四年1.50%、第五年2.00%、第六年2.50%），对应正股名称为信测标准，转股开始日为2024 年5月15日，转股价18.22元。 截至2025年3月，信测标准筹码集中度较集中。十大股东持股合计占比55.44%，十大流通股东持股合计 占比37.91%。股东人数1.821万户，人均流通股6003股，人均持股金额15.2万元。 资料显示，深圳信测标准技术服务股份有限公司成立于2000年,总部位于深圳,是国内最早从事检测服务 的第三方检测机构之一。为深交所创业板上市企业。(股票简称:"信测标准",股票代 ...

Macro Strategy - The report anticipates a decline in loan demand for July and stable growth in social financing [1] - The geopolitical situation and rising interest rate expectations have boosted market sentiment, leading to an increase in US stock prices [1] - The 10-year US Treasury yield rose by 6.7 basis points to 4.283% due to weak auction results reflecting soft market demand [1] Fixed Income Analysis - The report highlights the investment value of non-ETF component bonds in the Sci-Tech bond market, suggesting a shift towards these bonds due to their higher yield and credit spread compared to ETF components [2] - It notes that 14.79% of the non-ETF component bonds have a credit spread exceeding 40 basis points, indicating potential for yield compression [2] - The "anti-involution" policy is expected to have a longer-lasting impact compared to previous supply-side reforms, with a focus on high-quality development rather than large-scale demand-side stimulus [3][4] Company-Specific Insights - Guodian Measurement (002967) is recommended for its AI chip localization and high-end PCB expansion, with profit forecasts for 2025-2027 set at 4.0/4.5/5.2 billion [9] - Aisheng Co., Ltd. (600732) has shown a significant increase in shipments and profitability, with revised profit forecasts for 2025-2027 at 3.8/15.6/24.9 billion, reflecting a growth rate of 107%/307%/60% [10] - Yanjing Beer (000729) continues to perform well with a focus on its U8 product line, with profit forecasts adjusted to 16.03/19.26/22.74 billion for 2025-2027 [11] - Gole Technology (002241) is expanding its AR capabilities through investment in Micro-LED technology, with profit forecasts adjusted to 34/44 billion for 2025-2026 [13] - Pop Mart (09992.HK) is expected to see rapid revenue growth driven by its IP strategy, with profit forecasts raised to 100.3/144.9/182.9 billion for 2025-2027 [14]

Core Viewpoint - Kaipu Testing (003008.SZ) has demonstrated stable growth in its performance, with revenue and net profit both increasing in the first half of 2025 [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 111 million yuan, a year-on-year increase of 3.23%, and a net profit of 40.79 million yuan, up 3.73% year-on-year [1][2]. - The gross profit margin for the first half of 2025 was 68.9%, while the net profit margin was 36.64% [1][2]. Business Segments - The main business of Kaipu Testing includes testing services for new power system equipment and other technical services. In the first half of 2025, revenue from various segments included: - Revenue from power system protection and control equipment testing was 79.968 million yuan, a year-on-year increase of 7.23% [4]. - Revenue from electric vehicle charging and swapping system testing was 8.1243 million yuan [4]. - Revenue from new energy control equipment and system testing was 16.736 million yuan, a year-on-year increase of 17.74% [4]. - Revenue from testing equipment sales reached 5.117 million yuan, a significant year-on-year increase of 11,465.4% due to surging customized demands [4]. Dividend Policy - Kaipu Testing has a generous dividend policy, proposing a mid-year dividend of 3 yuan per 10 shares for 2025, totaling 31.2 million yuan [1][5]. - Since its listing, the company has distributed a total of 287 million yuan in dividends, achieving a dividend payout ratio of 73.03% [6].