2025年上半年，国睿科技（600562）紧扣高质量发展主线，持续深化主责主业协同，积极推进技术创新 与管理效能双提升，整体经营稳中有进、质量稳步提升。报告期内，公司实现营业收入17.21亿元，同 比增长10.41%；归母净利润3.50亿元，同比增长1.15%。 从业务构成来看，公司三大核心板块协同推进。雷达装备及相关系统板块持续夯实技术优势，军贸与民 用市场同步推进；工业软件及智能制造板块项目落地节奏平稳，国产化成果显著；智慧轨交板块在区域 拓展取得突破。 创新动能持续增强，核心技术不断突破 创新始终是驱动企业穿越周期、提升价值的根本动力。上半年，国睿科技继续加大研发投入，着力推进 关键核心技术攻关，推动科研成果从"实验室"向"工程化""产业化"快速转化。报告期内，公司研发投入 达7606.20万元，同比增长5.34%；共获得专利授权16项，其中发明专利8项、实用新型专利8项，另新增 软件著作权20项，技术积淀持续厚实。 在雷达系统领域，公司进一步构建空地一体、全谱系雷达产品体系，聚焦S波段、X波段相控阵雷达、 低空监视雷达等重点方向，持续推进关键产品的技术升级。其中，"表贴式微带隔离环行器组件"荣获中 国 ...

Investment Rating - The report maintains a "Recommendation" rating for the low-altitude economy sector, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [50]. Core Insights - The China Electronics Technology Group Corporation (CETC) held a low-altitude economy development conference, launching three major product systems: "Tianxing," "Tianwei," and "Tiangong," indicating a structured approach to expanding in the low-altitude economy sector [6][9]. - The report highlights three key companies in the low-altitude economy: Lais Information, Guorui Technology, and Sichuan Electronic Technology, which are expected to benefit from CETC's initiatives [9][11]. Summary by Sections Industry Overview - The low-altitude economy sector includes 122 listed companies with a total market capitalization of 334.069 billion yuan and a circulating market value of 286.285 billion yuan [3]. - The absolute performance of the sector over the past 12 months is 12.2%, while the performance over the last month and six months is 0.6% and -2.5%, respectively [3]. Product Systems - **Tianxing Series**: Focuses on low-altitude support, providing management systems and equipment for high-density, high-frequency flights, achieving a flight punctuality rate of 99.89% [7]. - **Tianwei Series**: Concentrates on low-altitude safety, offering comprehensive safety solutions for urban and regional areas, already implemented in various cities [8]. - **Tiangong Series**: Targets low-altitude manufacturing, with a significant market share in the domestic flight training sector [9]. Company Insights - **Lais Information**: Recognized as a leader in low-altitude digitalization, leveraging its advantages in air traffic management to expand into low-altitude services [11]. - **Guorui Technology**: Positioned to benefit from military trade and low-altitude safety systems, with innovative products like the low-altitude intelligent perception system [14][16]. - **Sichuan Electronic Technology**: Aims to become a leader in low-altitude safety, developing systems for micro-meteorological monitoring and comprehensive safety solutions [19]. Market Performance - The Huachuang Transportation Low-altitude 60 Index increased by 6.3% in the past week and 7% year-to-date, outperforming the Shanghai and Shenzhen 300 Index, which declined by 0.3% [24][26]. - Notable stock performances include Guoxuan High-Tech (25%), New Morning Technology (16%), and Green Energy Wisdom Charge (14%) [27]. Investment Recommendations - The report suggests focusing on three major application scenarios for the low-altitude economy from 2025 to 2027: new consumption in cultural tourism, manned transportation, and specialized uses [35]. - Key sectors to watch include main manufacturers, supply chains, low-altitude new infrastructure, and operational applications [36].