证券代码：600879 证券简称：航天电子 公告编号：临 2025-052 航天时代电子技术股份有限公司 董事会 2025 年第九次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 有关规定； 方式召开，会议地点为公司会议室； 阎俊武先生、戴利民先生、杨雨先生，独立董事唐水源先生、胡文华女士出席现 场会议并投票表决，董事陈建国先生、独立董事张松岩先生因工作原因以通讯方 式参加会议并投票表决； 生、副总裁兼财务总监徐洪锁先生列席会议。 二、董事会会议审议情况 本议案同意 8 票，反对 0 票，弃权 0 票。 会议以投票表决方式通过关于公司 2025 年半年度报告及摘要的议案。 公司董事会审计委员会 2025 年第三次会议审议通过上述议案并同意提交公 司董事会审议。 公司 2025 年半年度报告及摘要详见上海证券交易所网站（www.sse.com.cn）。 本议案无需提交公司股东会审议。 本议案同意 8 票，反对 0 票，弃权 0 票。 会议以投票表决方式通过关于公司 2025 年半年度募集资金 ...

关于重庆航天火箭电子技术有限公司增资扩股的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 为满足智能制造生产线建设、研发投入等资金需求，航天时代电子技术 股份有限公司（简称"公司"）全资子公司重庆航天火箭电子技术有限公司（简 称"重庆航天公司"）拟在北京产权交易所公开挂牌引入 1 名战略投资者进行增 资扩股，融资金额 23,000 万元，释放股权不超过 29.39%；公司及子公司不参与 本次股权融资； ? 本次增资事项不构成关联交易，也不构成《上市公司重大资产重组管理 办法》规定的重大资产重组； ? 本议案无需提交公司股东会审议。 一、本次增资事项审议情况 公司于 2025 年 8 月 27 日召开董事会 2025 年第九次会议，审议通过了《关 于重庆航天火箭电子技术有限公司增资扩股的公告》，同意重庆航天公司在北京 产权交易所公开挂牌引入 1 名战略投资者进行增资扩股，拟融资金额 23,000 万 元，释放股权不超过 29.39%。 本次增资事项不构成关联交易，也不构成《上市公司重大资产重组管理办法》 ...

根据中国证监会《上市公司独立董事管理办法》、《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》、 《上海证券交易所股票上市规则》及《航 天时代电子技术股份有限公司章程》等有关规定，航天时代电子技术股份有限公 司（以下简称"公司"）独立董事 2025 年第三次专门会议于 2025 年 8 月 27 日 以现场方式和通讯相结合的方式召开，公司独立董事唐水源先生、胡文华女士出 席了现场会议并投票表决，张松岩先生因工作原因以通讯方式参加会议并投票表 决。本次会议审议通过以下事项并形成决议如下： 航天时代电子技术股份有限公司独立董事 航天科技财务有限责任公司严格按《企业集团财务公司管理办法》规定经营， 具有合法有效的内部控制制度，能较好地控制风险，各项监管指标均符合相关管 理规定，公司与航天科技财务有限责任公司之间开展存贷款金融服务业务的风险 可控。 二、关于与中国航天时代电子有限公司签订委托经营管理协议的议案 我们作为公司的独立董事，事前审查了公司关于与中国航天时代电子有限公 司签订委托管理协议的议案，基于独立判断，发表如下独立意见： 公司与中国航天时代电子有限公司签订委托管理协议遵循了公平、合理的原 则 ...

8月26日航天电子主力资金净流出1.39亿元，占流通市值的0.36%。近五个交易日累计净流出5453.44万 元，占流通市值的0.14%。 公司8月26日发布公告称，董事、副董事长王亚军因工作变动原因辞去相关职务，辞职后将不再担任公 司任何职务。该人事变动自董事会收到辞职申请之日起生效。 风险提示：股市有风险，投资需谨慎。 航天电子8月26日股价报11.72元，较前一交易日下跌1.60%。当日成交量为1652.44万手，成交金额达 19.54亿元，换手率为5.01%。 航天电子隶属于航天航空板块，主要从事航天电子产品的研发、生产和销售。公司产品广泛应用于航 天、航空、船舶等领域。 ...

General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors while adhering to the leadership of the Communist Party and improving corporate governance structures [2][4] - The company was established in accordance with the Wuhan municipal government's regulations on state-owned enterprises and has been registered with the Wuhan Administration for Industry and Commerce [2][3] Company Structure and Capital - The registered capital of the company is RMB 3,299,299,334, and it is a permanent joint-stock company [3][6] - The company has a total of 512,489,000 shares, with various categories including state shares, founder shares, and individual shares [3][9] Business Objectives and Scope - The company's business objective is to leverage aerospace technology to promote the commercialization of high-tech achievements and enhance competitiveness and economic efficiency [6][7] - The company engages in a wide range of activities, including information system integration, software and hardware sales, satellite communication, and various technology services [7] Share Issuance and Management - The company issues shares in a public, fair, and just manner, ensuring equal rights for all shareholders of the same category [9][10] - The company can increase its capital through various methods, including issuing shares to unspecified objects or existing shareholders [10][11] Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends, participate in shareholder meetings, supervise company operations, and access company documents [14][15] - Shareholders are obligated to comply with laws and regulations, pay for their subscribed shares, and not misuse their rights to harm the company or other shareholders [20][21] Control and Governance - The actual controller of the company is China Aerospace Science and Technology Corporation, which must maintain its controlling position [6][20] - The company must adhere to strict regulations regarding the management of military products and ensure compliance with national defense laws [6][7] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for convening and conducting these meetings [48][49] - Shareholder proposals must be submitted in advance and comply with legal and regulatory requirements [58][59]

Core Insights - The report emphasizes a focus on the technology sector for investment opportunities, particularly in growth stocks, as the market index has shown upward momentum [2][6]. - The report outlines a selection of ten key stocks, highlighting their respective industries, market capitalizations, earnings per share (EPS) forecasts, and price-to-earnings (PE) ratios for 2026 and 2027 [2][68]. Group 1: Key Stock Recommendations - **Neway Valve (603699.SH)**: A leading global industrial valve manufacturer, benefiting from a surge in LNG and marine engineering sectors, with expected overseas order growth of over 50% year-on-year in the first half of 2025 [11][12]. - **Yongxing Environmental (601033.SH)**: The sole operator of waste incineration in Guangzhou, with a projected capacity utilization rate of 79% and a commitment to high dividends, expecting a 174% increase in free cash flow in 2024 [17][18]. - **Aerospace Electronics (600879.SH)**: Focused on aerospace electronics and unmanned systems, with anticipated high growth driven by the commercial space industry and demand for satellite communication technologies [26][27]. - **Miaokelando (600882.SH)**: Positioned for long-term growth in the dairy sector, with a focus on product innovation and cost management, expecting significant revenue growth in the upcoming quarters [31][32]. - **Laopu Gold (6181.HK)**: A high-end gold jewelry brand with strong revenue growth, projected to achieve 8.51 billion yuan in revenue in 2024, benefiting from the expanding market for traditional gold products [36][38]. - **Jingzhida (688627.SH)**: Engaged in the semiconductor testing equipment sector, with significant market potential and expected strong performance due to key customer orders [42][43]. - **Shensanda A (000032.SZ)**: Positioned to benefit from the increasing demand for AI infrastructure and applications, with a strong foothold in public data services [47][48]. - **Sanqi Interactive (002555.SZ)**: Anticipating strong performance from new game releases, particularly the upcoming "Douluo Dalu: Hunting Soul World," with high player interest [53][56]. - **CATL (300750.SZ)**: Expected to maintain strong profit growth, with projected net profits of 66.1 billion yuan in 2025, driven by increasing demand for electric vehicle batteries [59][60]. - **Borui Pharmaceutical (688166.SH)**: Forecasted to achieve net profits of 2.6 billion yuan in 2025, with significant potential in the Amylin pipeline, which has attracted substantial investment interest [63][64]. Group 2: Financial Data Overview - The report provides detailed financial forecasts for the ten key stocks, including projected revenues and net profits for 2025 to 2027, highlighting the growth potential across various sectors [68]. - For instance, Neway Valve is expected to generate 74.53 billion yuan in revenue in 2025, with a net profit of 14.49 billion yuan, reflecting strong operational performance [68]. - CATL's projected revenue for 2025 is 472.43 billion yuan, with a net profit forecast of 66.13 billion yuan, indicating robust growth in the electric vehicle battery market [68].

Core Points - The company has announced a cash dividend of 0.05 yuan per share for its A shares [1] - The profit distribution plan was approved at the annual general meeting on April 21, 2025 [1] - The record date for shareholders is June 12, 2025, with the last trading day on June 13, 2025, and the ex-dividend date also on June 13, 2025 [1] Distribution Plan - The total share capital before the distribution is 3,299,299,334 shares, and the cash dividend will be distributed based on this number [1] - The dividends for unrestricted circulating shares will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch [1] Taxation Information - For individual shareholders holding shares for more than one year, the cash dividend of 0.05 yuan per share is exempt from personal income tax [3] - For shares held for one year or less, the tax will be calculated upon transfer, with a potential tax burden of 20% for shares held for one month or less, and 10% for shares held between one month and one year [3] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied, resulting in a net dividend of 0.045 yuan per share [4] - Hong Kong investors through the Stock Connect will also face a 10% withholding tax, leading to a net dividend of 0.045 yuan per share [4] - Other institutional investors are responsible for their own tax obligations, with a gross dividend of 0.05 yuan per share [5]

Core Points - The company will participate in the 2024 annual performance briefing organized by China Aerospace Science and Technology Corporation on June 5, 2025 [1] - The meeting will be conducted through on-site communication, video live streaming, and online text interaction [1] - Investors can submit questions via fax or email before June 4, 2025, and the company will respond to commonly asked questions during the briefing [1] Meeting Details - The performance briefing is scheduled for June 5, 2025, from 14:30 to 17:30 [1] - The live streaming can be accessed through the Shenzhen Stock Exchange "Interactive Easy" platform and the Shanghai Stock Exchange Roadshow Center [1] - The company will discuss its operational results and financial indicators for the year 2024 and the first quarter of 2025 [1] Participants - Key attendees include the Chairman, Directors, Independent Directors, President, Vice Presidents, and the Secretary of the Board [1] - The attendance of specific leaders may vary based on work arrangements without further notice [1] Investor Participation - Investors can watch the live briefing on the specified platforms and engage in interactive communication with company representatives [1] - Questions can be submitted via email, and the company will address common inquiries during the meeting [1] Additional Information - After the briefing, investors can review the meeting's proceedings and main interactive content on the Shanghai Stock Exchange Roadshow Center [2]

Financial Assistance Overview - The company has approved financial assistance totaling up to RMB 250,000 million to five subsidiaries to meet their working capital needs and improve financing efficiency [2][3] - The financial assistance will be provided through loan agreements signed on May 12, 2025, based on the subsidiaries' funding requirements [2][6] Financial Assistance Details - The financial assistance is set to be provided at an interest rate that refers to the one-year loan rate set by the People's Bank of China, with adjustments based on changes in this rate [3][9] - The assistance is valid from the date of approval until the next annual shareholders' meeting in 2025, and the funds can be reused within this limit [3][8] Risk Management - The financial assistance is directed to subsidiaries that are under the company's control, ensuring effective risk management and monitoring of their operations and financial management [12] - The company has confirmed that the financial assistance will not affect its ongoing operational capabilities or harm the interests of shareholders [12] Financial Assistance Utilization - The funds are intended for the subsidiaries' working capital turnover, allowing for flexible borrowing and repayment within the established limits [9][10] - The company has reported that the total amount of financial assistance provided remains at RMB 0 million as of the announcement date, indicating no overdue loans or violations in lending practices [13]

Group 1: Technology Innovation and Support - Zhengzhou has implemented a series of favorable policies to accelerate technological innovation and promote industrial upgrades, focusing on innovation platform construction, enterprise cultivation, achievement transformation, and talent attraction [1][6][4] - The technology transaction market in Zhengzhou has shown strong growth, with a transaction volume of 309.9 billion yuan, representing a year-on-year increase of 169% [4][6] - The city has established partnerships with top universities and research institutions, leading to the creation of innovation centers and significant contributions to local industry development [5][4] Group 2: Company Developments - APUS, a company specializing in artificial intelligence, has developed a smart diagnosis platform in collaboration with Henan Children's Hospital, serving 1.2 million patients since its launch in May 2024 [2][6] - Hanwei Technology, a leader in the gas sensor industry, has benefited from supportive policies in Zhengzhou, achieving significant technological breakthroughs and holding 1,081 patents, including 216 invention patents [3][6] - The Zhengzhou Institute of Advanced Materials has provided technical services to over 20 clients, signing contracts worth over 70 million yuan, supporting local industrial chain development [5][6] Group 3: Policy Impact - Zhengzhou's policies aim to increase the number of national high-tech enterprises to 11,000 by 2026, with financial incentives for newly recognized high-tech companies [6][4] - The city is actively supporting the establishment of high-level technology innovation platforms, providing substantial funding to enhance research and development capabilities [6][4] - The comprehensive support from the government is designed to stimulate innovation and enhance the competitiveness of local enterprises [6][1]