截至发稿，尤国梁累计任职时间6年79天，现任基金资产总规模42.62亿元，任职期间最佳基金回报 231.75%， 任职期间最差基金回报-15.93%。 数据显示，长城基金旗下1只基金位居陕西华达十大流通股东。长城久嘉创新成长混合A（004666）三 季度增持210万股，持有股数350万股，占流通股的比例为5.89%。根据测算，今日浮盈赚取约1246万 元。 长城久嘉创新成长混合A（004666）成立日期2017年7月5日，最新规模19.74亿。今年以来收益3.51%， 同类排名3750/8825；近一年收益100.94%，同类排名173/8084；成立以来收益211.11%。 长城久嘉创新成长混合A（004666）基金经理为尤国梁。 1月8日，陕西华达涨5.09%，截至发稿，报73.49元/股，成交11.74亿元，换手率16.80%，总市值111.14 亿元。 资料显示，陕西华达科技股份有限公司位于陕西省西安市高新区普新二路5号，成立日期2000年8月10 日，上市日期2023年10月17日，公司主营业务涉及电连接器及互连产品的研发、生产和销售。主营业务 收入构成为：射频同轴连接器43.55%，低频连接器23 ...

Group 1 - The core viewpoint of the news is that Shaanxi Huada's stock has shown significant growth since its listing, with a notable increase in trading volume and market capitalization [1] - As of January 8, Shaanxi Huada's stock price increased by 2.66% year-to-date, with a 65.58% increase over the past 60 days [1] - The company specializes in the research, production, and sales of electrical connectors and interconnection products, with its main revenue sources being RF coaxial connectors (43.55%) and low-frequency connectors (23.02%) [1] Group 2 - As of December 31, the number of shareholders for Shaanxi Huada increased by 43.03% to 28,700, while the average circulating shares per person decreased by 30.09% [2] - For the period from January to September 2025, Shaanxi Huada reported a revenue of 430 million yuan, a year-on-year decrease of 11.77%, and a net profit attributable to shareholders of -14.31 million yuan, a decrease of 141.93% [2] - The company has distributed a total of 22.36 million yuan in dividends since its A-share listing [3]

分析师：李紫忆 S0340522110001 电话：0769-22177163 邮箱：liziyi@dgzq.com.cn 策 略 策 略 业 研 究 业 研 究 资料来源：wind，东莞证券研究所 投资要点： 投 资 投 资 北交所策略 迈向星辰大海 北交所专题报告 2025 年 12 月 31 日 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 推荐 SAC 执业证书编号： 商业航天进入需求兑现阶段，低轨星座成为核心驱动力。随着低轨 通信星座由规划走向实施，商业航天正从前期技术验证阶段迈入以 规模化部署为特征的需求释放期。未来千颗级、万颗级星座建设对 火箭发射、卫星制造、测运控及配套系统形成长期、连续的需求曲 线，行业关注重点由"是否具备能力"转向"能否稳定、高频、低 成本交付"。在此背景下，具备工程化能力和规模化交付能力的产 业链环节率先受益，行业内部结构性分化趋势逐步显现。 行 行 北证 50 指数走势 产业链逻辑清晰，上游制造与中游发射服务弹性突出。从产业链结 构看，上游火箭制造、卫星平台与整星制造 ...

在商业航天市场规模迈向2.8万亿元、核心元器件领域迎来千亿级增量空间的行业背景下，双方合作形 成精准卡位。陕西华达负责人表示，借助西测测试的专业检测能力可保障产品质量稳定性，加速推进在 商业航天高景气赛道的业务拓展；西测测试负责人则强调，此次合作实现检测服务与核心元器件制造的 深度融合，将充分释放资源协同效应。 商业航天产业规模化发展窗口期下，产业链协同再添新动能。近日，西测测试（301306）与陕西华达 （301517）正式签署战略合作协议，双方将从单一业务合作升级为全方位协同，构建"研发-生产-检测- 验证"全链条体系，精准卡位商业航天核心元器件赛道，为高端制造领域自主可控发展提供支撑。 此次合作的核心逻辑在于产业链关键环节的优势互补。西测测试坚持以"4+1+1"战略驱动，凭借 AS9100、SPCAP、NadCAP等完备资质，打造了"商业卫星载荷超级代工厂"核心能力，可提供一站式试 验检测服务，已圆满完成多项重大航天工程（603698）项目检测任务，是航空航天领域检测服务的核心 力量。作为国内航天电连接器骨干企业，陕西华达深耕高可靠电连接器领域数十年，核心产品涵盖射频 同轴连接器、低频连接器等关键品类， ...

Core Viewpoint - The company, Shaanxi Huada Technology Co., Ltd., has a strong position in the domestic connector market, particularly in military applications, and is poised for growth due to increasing demand and new market opportunities from its fundraising projects [1][2]. Group 1: Company Background - The company originated from the state-owned No. 853 Factory and has over 50 years of experience in research and production, specializing in RF coaxial connectors, low-frequency connectors, and RF coaxial cable components [1]. - It ranks among the top manufacturers of military connectors in China and is controlled by the Shaanxi Provincial State-owned Assets Supervision and Administration Commission [1]. Group 2: Market Outlook - The overall connector market in China is on an upward trend, with a projected market size of 205.8 billion yuan in 2023, reflecting a 9.1% increase from the previous year, and expected to reach approximately 218.1 billion yuan in 2024 [2]. - The military connector market is anticipated to grow due to increased defense spending and the trend towards domestic substitution, which will likely boost the company's product sales [2]. Group 3: Investment Projects - The company plans to invest 339 million yuan in a satellite interconnection high-reliability connector system project, which is expected to expand its business into satellite communications and phased array antennas [2]. Group 4: Customer Base and Profitability - The company has established a stable and high-quality customer base, including major entities like China Electronics Technology Group, Aerospace Science and Technology Corporation, and Huawei, maintaining long-term cooperative relationships [2]. - The company's products are primarily customized in small batches, which enhances their competitiveness and results in a gross margin that is significantly higher than the industry average [2]. Group 5: Profit Forecast - The company forecasts net profits attributable to shareholders of 63 million yuan, 93 million yuan, and 120 million yuan for the years 2025 to 2027, with corresponding valuations of 161.1, 108.2, and 83.8 times [3].

11-12 月商业航天产业迎来密集催化，关注北交所商业航天产业链标的 ——北交所科技成长产业跟踪第五十七期（20251228） 证券研究报告 | 北交所定期报告 | | --- | hyzqdatemark 2025 年 12 月 29 日 证券分析师 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 万枭 SAC：S1350524100001 wanxiao@huayuanstock.com 源引金融活水 润泽中华大地 内容目录 | 1. | 政策推动商业航天行业发展提速，可回收火箭发射测试进展可期 5 | | --- | --- | | 1.1. | 上交所发布商业火箭企业科创板上市新标准，11-12 月商业航天迎来密集催化 5 | | 1.2. | 2025Q1-Q3 中国商业航天发射 17 次，预计 2030 年中国商业航天规模超 9 万亿元7 | | 2. | 总量：北交所科技成长股股价涨跌幅中值-2.24% 15 | | 3. | 行业：汽车产业市盈率 TTM 中值-1.75%至 30.6X 16 | | 4. | 公告：纳科诺尔与国内某头部客户签订了《 ...

12月24日，陕西华达涨5.01%，截至发稿，报63.28元/股，成交5.94亿元，换手率9.98%，总市值95.70亿 元。 资料显示，陕西华达科技股份有限公司位于陕西省西安市高新区普新二路5号，成立日期2000年8月10 日，上市日期2023年10月17日，公司主营业务涉及电连接器及互连产品的研发、生产和销售。主营业务 收入构成为：射频同轴连接器43.55%，低频连接器23.02%，射频同轴电缆组件18.70%，其他产品 10.89%，电镀劳务3.07%，其他业务收入(销售原材料)0.77%。 从基金十大重仓股角度 数据显示，红塔红土基金旗下1只基金重仓陕西华达。红塔红土稳健精选混合型A（009817）三季度持 有股数1.7万股，占基金净值比例为4.13%，位居第五大重仓股。根据测算，今日浮盈赚取约5.13万元。 红塔红土稳健精选混合型A（009817）成立日期2020年10月16日，最新规模852.29万。今年以来收益 11.2%，同类排名5557/8088；近一年收益11.19%，同类排名5529/8058；成立以来收益19.51%。 红塔红土稳健精选混合型A（009817）基金经理为杨兴风。 截至发 ...

Group 1 - The core viewpoint of the news is that Shaanxi Huada Technology Co., Ltd. has seen a significant increase in its stock price, rising by 5.27% to 68.74 CNY per share, with a trading volume of 1.307 billion CNY and a turnover rate of 20.38%, leading to a total market capitalization of 10.396 billion CNY [1] - Shaanxi Huada specializes in the research, production, and sales of electrical connectors and interconnection products, with its main revenue sources being RF coaxial connectors (43.55%), low-frequency connectors (23.02%), RF coaxial cable assemblies (18.70%), and other products [1] - The company was established on August 10, 2000, and went public on October 17, 2023, indicating its recent entry into the stock market [1] Group 2 - Among the top circulating shareholders of Shaanxi Huada, Yongying Fund has a fund that entered the top ten list, holding 585,300 shares, which is 0.98% of the circulating shares, and has made an estimated profit of approximately 2.0134 million CNY today [2] - The Yongying High-end Equipment Intelligent Selection Mixed Fund A (015789) was established on July 15, 2022, with a current scale of 209 million CNY, achieving a year-to-date return of 60.05% and a one-year return of 51.09% [2] - The fund manager, Zhang Lu, has a tenure of 6 years and 142 days, with the fund's total asset size at 22.921 billion CNY, and the best and worst returns during his tenure being 114.69% and -60.31%, respectively [3]

富士达产业基地。 记者 史丽 摄 天力复合双金属复合板。 记者 史丽 摄 云星宇科技成果展示 盖世食品大连工厂 中纺标INSTRON强力机 创新型中小企业是实体经济的生力军，更是资本市场高质量发展的根基。北交所联合上海证券报开展 的"北交所万里行"调研活动，今年跨越地域与行业界限，深入走访了各具代表性的上市公司。从锐意转 型的国资力量，到活力迸发的民营先锋；从深耕传统行业的"老树新枝"，到奔涌在战略性新兴产业 的"浪尖力量"……他们规模不同，赛道各异，却共同展现出"专精特新"的鲜明特征——在细分领域深耕 不辍，以创新为刃，叩问属于自己的星辰大海。 富士达：射频龙头以"中国标准"连接世界 ◎记者 张问之 白丽斐 从5个人、2万元起步，到年盈利超亿元，成为北交所5G通信领域的第一股；从生产基础的射频同轴连 接器，到产品广泛应用于航空航天、高端装备领域…… 历时20余年，富士达不仅实现了"创国货第一品牌，与国际名牌一比高低"的创业梦想，更推动了中国连 接器行业实现从"中国制造"到"中国创造"的关键跨越。 技术筑基 标准立信 "创国货第一品牌，与国际名牌一比高低"，是富士达创立之初的梦想。那是1998年，国内射频连接 ...

（文章来源：证券日报） 证券日报网讯 12月10日，陕西华达在互动平台回答投资者提问时表示，公司主营业务为电连接器及互 连产品的研发、生产和销售，主要产品包括射频同轴连接器、低频连接器、射频同轴电缆组件等三大 类，目前已广泛应用于航空航天、武器装备、通讯等领域。公司将在光电、高速连接器，微波器件，分 系统及部组件等系统集成领域进行大力拓展，并加大在商业航天、低空经济、人工智能、数据中心等新 兴技术领域的研发力度，不断拓展产品应用领域，未来市场空间将持续扩大。 ...