分红方面，航材股份A股上市后累计派现5.35亿元。 机构持仓方面，截止2025年9月30日，航材股份十大流通股东中，易方达上证科创板50ETF（588080） 位居第二大流通股东，持股487.94万股，相比上期减少70.87万股。华夏上证科创板50成份ETF （588000）位居第三大流通股东，持股475.58万股，相比上期减少267.01万股。易方达国防军工混合A （001475）位居第四大流通股东，持股395.32万股，相比上期增加11.10万股。富国中证军工龙头ETF （512710）位居第五大流通股东，持股308.10万股，相比上期增加49.51万股。南方中证500ETF （510500）位居第七大流通股东，持股202.54万股，相比上期减少5298.00股。南方军工改革灵活配置混 合A（004224）退出十大流通股东之列。 责任编辑：小浪快报 资料显示，北京航空材料研究院股份有限公司位于北京市海淀区永翔北路5号，成立日期2000年4月10 日，上市日期2023年7月19日，公司主营业务涉及主要从事航空、航天用部件及材料研发、生产和销 售。主营业务收入构成为：航空成品件46.54%，基础材料44.60 ...

新华社北京12月19日电 题：不断增强国有企业核心功能、提升核心竞争力——访国务院国资委党 委书记、主任张玉卓 新华社记者王希 党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建 议》（以下简称《建议》），对未来五年我国发展作出顶层设计和战略擘画。 国资央企怎样落实好《建议》提出的"加强原始创新和关键核心技术攻关""巩固壮大实体经济根 基""深化国资国企改革"等关键任务？记者采访了国务院国资委党委书记、主任张玉卓。 四方面着力强化国资央企自主创新、原始创新 问：《建议》提出加快高水平科技自立自强。"十五五"期间，国资央企在全面增强自主创新能力、 抢占科技发展制高点方面，将有哪些重要举措？ 答：中央企业是科技创新的国家队，是国家战略科技力量的重要组成部分。近年来，国资央企把科 技创新作为"头号任务"，充分发挥新型举国体制优势，研发投入连续三年破万亿元，集中攻克了工业母 机、工业软件、基础材料等一批"卡脖子"关键核心技术，打造了嫦娥六号、"奋斗者"号等一批举世瞩目 的"大国重器"。 面向"十五五"，我们将聚焦解决影响国家发展安全和长远利益的重大科技问题，大力强化自主创 新、原始创 ...

证券日报网讯 12月17日，聚合顺（605166）在互动平台回答投资者提问时表示，公司生产的产品为基 础材料，无卤阻燃为下游改性材料的工艺。 ...

分红方面，航材股份A股上市后累计派现5.35亿元。 机构持仓方面，截止2025年9月30日，航材股份十大流通股东中，易方达上证科创板50ETF（588080） 位居第二大流通股东，持股487.94万股，相比上期减少70.87万股。华夏上证科创板50成份ETF （588000）位居第三大流通股东，持股475.58万股，相比上期减少267.01万股。易方达国防军工混合A （001475）位居第四大流通股东，持股395.32万股，相比上期增加11.10万股。富国中证军工龙头ETF （512710）位居第五大流通股东，持股308.10万股，相比上期增加49.51万股。南方中证500ETF （510500）位居第七大流通股东，持股202.54万股，相比上期减少5298.00股。南方军工改革灵活配置混 合A（004224）退出十大流通股东之列。 航材股份当前最新价为53.20元，今年以来，航材股份股价累计下跌3.77%。此次公告拟定的最高回购价 格，比现价高50.38%。 股票回购往往被视为一种稳价措施。指上市公司用现金等方式从股票市场买回自家公司已经发行在外的 一定数额的股票。一般来讲，回购后可以注销，也可以用于实施员 ...

责任编辑：小浪快报 资料显示，北京航空材料研究院股份有限公司位于北京市海淀区永翔北路5号，成立日期2000年4月10 日，上市日期2023年7月19日，公司主营业务涉及主要从事航空、航天用部件及材料研发、生产和销 售。主营业务收入构成为：航空成品件46.54%，基础材料44.60%，非航空成品件4.18%，加工服务 3.96%，其他0.72%。 截至9月30日，航材股份股东户数2.32万，较上期减少0.30%；人均流通股5050股，较上期增加1.87%。 2025年1月-9月，航材股份实现营业收入20.39亿元，同比减少7.14%；归母净利润4.00亿元，同比减少 8.23%。 分红方面，航材股份A股上市后累计派现5.35亿元。 机构持仓方面，截止2025年9月30日，航材股份十大流通股东中，易方达上证科创板50ETF（588080） 位居第二大流通股东，持股487.94万股，相比上期减少70.87万股。华夏上证科创板50成份ETF （588000）位居第三大流通股东，持股475.58万股，相比上期减少267.01万股。易方达国防军工混合A （001475）位居第四大流通股东，持股395.32万股，相比上期增 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company experienced a decline in revenue and profit in the first three quarters of 2025, with revenue of 2.039 billion yuan, down 7.14% year-on-year, and a net profit of 400 million yuan, down 8.23% year-on-year [7][8] - The gross profit margin improved year-on-year, and the acquisition of the titanium alloy company is progressing smoothly [8] - The company is expected to benefit from the upgrade of domestic aircraft and the increasing global demand for civil aircraft, leading to a rapid development phase for its aviation products [10] Financial Performance Summary - For the first three quarters of 2025, the company reported a revenue of 2.039 billion yuan, a net profit of 400 million yuan, and a net profit margin of 19.62%, which is a decrease of 0.23 percentage points year-on-year [8] - The average return on equity (ROE) was 3.84%, down 0.46 percentage points year-on-year, while the sales gross margin was 31.14%, up 0.57 percentage points year-on-year [8] - In Q3 2025, the company achieved a revenue of 679 million yuan, a net profit of 120 million yuan, and a cash flow from operating activities of -135 million yuan [9] Revenue and Profit Forecast - The company is projected to generate revenues of 2.958 billion yuan, 3.526 billion yuan, and 4.178 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 564 million yuan, 703 million yuan, and 854 million yuan [10][34]

Core Viewpoint - The company, established in 2000 and listed in 2023, is a significant player in the aerospace and defense sector, showcasing strong investment potential due to its full industry chain advantages and high technical barriers [1] Financial Performance - For Q3 2025, the company's revenue reached 2.039 billion, ranking 15th among 48 companies in the industry, while net profit was 400 million, placing it 10th [2] - The main business segments include aviation finished parts (633 million, 46.54%), basic materials (607 million, 44.60%), non-aviation finished parts (56.88 million, 4.18%), processing services (53.87 million, 3.96%), and others (9.81 million, 0.72%) [2] Financial Ratios - The company's debt-to-asset ratio stood at 12.20% in Q3 2025, lower than the industry average of 39.42% [3] - The gross profit margin was 31.14%, higher than the industry average of 30.54% [3] Management and Shareholder Structure - The chairman, Yang Hui, has extensive industry experience, while the general manager, Liu Qiguang, saw a significant salary increase to 790,800, up from 67,200 in 2023 [4] - The largest shareholder is the Beijing Aeronautical Materials Research Institute, controlled by the China Aviation Engine Group [4] Shareholder Dynamics - As of September 30, 2025, the number of A-share shareholders decreased by 0.30% to 23,200, with an average holding of 5,050.03 shares, an increase of 1.87% [5] - Major shareholders include various ETFs, with notable changes in holdings among the top ten [5] Market Outlook - The company experienced a revenue decline in the first half of 2025 due to fluctuating customer demand, but the gross margin remained stable [6] - Plans for the second half of 2025 include expanding into the gas turbine, trainer aircraft, and civil aircraft markets, along with completing acquisitions and utilizing excess funds for strategic investments [6] - Revenue projections for 2025-2027 are 3.091 billion, 3.682 billion, and 4.359 billion, with net profits of 617 million, 755 million, and 893 million respectively [6]

Core Insights - The "Nansha Plan" has successfully completed its first phase, with significant achievements in enhancing the business environment and fostering regional development, particularly in strategic emerging industries and advanced manufacturing [2][4]. Group 1: Development Goals and Achievements - The "Nansha Plan" was officially implemented in June 2022, with 2025 set as the target year for the first phase, focusing on creating a major strategic platform for cooperation [2]. - The added value of strategic emerging industries accounted for 37.8% of GDP, while the added value of advanced manufacturing reached 75.9% of the industrial output [2]. Group 2: Strategic Recommendations - Experts suggest that Nansha should accelerate the establishment of a technology innovation hub and implement more open talent policies to attract top talent in key sectors such as high-end chips and biomedicine [10]. - A modern industrial system characterized by "specialization, high-end, and intelligence" should be constructed, with a focus on traditional industries like shipbuilding and emerging fields like deep-sea and biomedicine [11]. - Nansha should leverage digital technology to enhance its competitiveness and push for a comprehensive digital transformation [11]. Group 3: Urban Development and Governance - The development of a multi-layered, networked urban structure is recommended, integrating market mechanisms into urban governance to alleviate fiscal pressures on the government [12]. - Emphasis on resource integration and collaborative innovation is crucial, with a focus on aligning with the strategic positioning of "facing the world" [12]. Group 4: Future Directions - Nansha is encouraged to focus on ecological green technology and extend its industrial chain in automotive and shipbuilding sectors to enhance resilience and safety [15]. - The exploration of service trade development, particularly in areas like intellectual property and cultural tourism, is seen as vital for boosting foreign trade competitiveness [15].

Core Viewpoint - The company, Beijing Aerospace Materials Co., Ltd., has experienced a decline in revenue and net profit for the first half of 2025, alongside significant trading activity in its stock, indicating potential investor interest and market volatility [2][3]. Group 1: Financial Performance - For the period from January to June 2025, the company reported a revenue of 1.361 billion yuan, representing a year-on-year decrease of 9.87% [2]. - The net profit attributable to shareholders for the same period was 280 million yuan, reflecting a year-on-year decline of 9.92% [2]. Group 2: Stock Trading Activity - On September 23, the company's stock price fell by 1.14%, with a trading volume of 93.5648 million yuan [1]. - The financing buy-in amount for the company on the same day was 13.9543 million yuan, while the financing repayment was 12.9595 million yuan, resulting in a net financing buy-in of 994,900 yuan [1]. - As of September 23, the total margin trading balance for the company was 312 million yuan, with the financing balance accounting for 5.04% of the circulating market value, indicating a high level of margin trading activity [1]. Group 3: Shareholder and Institutional Holdings - As of June 30, 2025, the number of shareholders increased to 23,200, with an average of 4,957 circulating shares per person, a slight decrease of 0.54% [2]. - The top circulating shareholder is the Huaxia SSE Sci-Tech Innovation Board 50 ETF, holding 7.4259 million shares, which decreased by 94,400 shares compared to the previous period [3]. - New institutional shareholders include the Southern CSI 500 ETF, which holds 2.0307 million shares, and the Fortune CSI Military Industry Leader ETF, which holds 2.5858 million shares [3].

Core Viewpoint - The central enterprises under state-owned assets have prioritized technological innovation as their primary task, achieving significant progress and results since the start of the 14th Five-Year Plan [1][6]. Group 1: Innovation Strength - Central enterprises have increased R&D investment, with annual growth of 6.5%, and have invested over 1 trillion yuan for three consecutive years, raising the investment intensity from 2.6% to 2.8% [3]. - In 2022, R&D expenditure reached 1.1 trillion yuan, with basic research accounting for 8.8%, nearly 100 billion yuan [3]. - A total of 474 national-level R&D platforms have been established, and 91 national key laboratories have been reorganized, representing one-sixth of the national total [3]. Group 2: Innovation Efficiency - Central enterprises have established 97 original technology source bases, focusing on major strategic needs and enhancing independent innovation capabilities [4]. - They have undertaken or participated in 22 national major science and technology projects, contributing to 60% of the key product R&D in the manufacturing industry [4]. - Collaborative innovation has been promoted with over 800 research institutions and universities, leading to 25,000 industry-academia-research cooperation projects [4]. Group 3: Innovation Ecosystem - The innovation ecosystem has been continuously optimized, with a focus on collaboration and creating a favorable environment for technological innovation [5]. - Incentives have been strengthened for significant technological achievements, with nearly 1,000 technology-based enterprises implementing equity and dividend incentives [5]. - Project leaders have been granted greater autonomy, and compliance mechanisms have been improved to allow researchers to focus on innovation without distractions [5].