Core Viewpoint - The company plans to invest CNY 199.47 million in the construction of the first phase of the Damao Banner Unmanned Intelligent System Training Base to enhance its testing capabilities for unmanned systems and low-altitude technology validation [1][2]. Investment Details - The investment amount for the Damao Banner Base Phase I project is CNY 199.47 million, which will be used to improve testing capabilities for unmanned systems [1][3]. - The project does not constitute a related party transaction or a major asset restructuring as defined by regulations, and does not require shareholder approval [2]. Company Background - The company’s subsidiary, Feihong Testing Company, was established in October 2022 with a registered capital of CNY 178 million, where the parent company holds 55.06% of the shares [2]. - Feihong Testing Company specializes in various services related to unmanned systems, including training, testing, and emergency rescue [2]. Project Specifications - The Damao Banner Base Phase I project aims to establish a comprehensive testing and validation system for unmanned systems, creating a model base for unmanned system flight training in China [3][4]. - The construction will include seven new buildings, an expanded runway, and the acquisition of 13 new pieces of equipment [4]. Financial Overview - The total estimated investment for the project is CNY 199.47 million, broken down into construction costs, equipment purchase, and other expenses [4]. - Funding will be sourced from the company's own funds and various financing channels [4]. Strategic Importance - The Damao Banner Base is a critical component of the company's strategy to develop its unmanned systems capabilities and support research, testing, and training activities [4]. - The project aligns with national policies for the development of the unmanned systems industry and is expected to have significant strategic implications for the company [4].

Core Insights - Aerospace Electronics (600879.SH) announced the approval of an investment project for the construction of the Daqi Flag Unmanned Intelligent System Training Base (Phase I) by Feihong Testing Company, amounting to 199.47 million yuan [1] Company Overview - Feihong Testing Company was established in October 2022 with a registered capital of 178 million yuan [1] - Aerospace Feihong Company holds a 55.06% stake in Feihong Testing Company, while the Daqi Flag Finance Bureau (State-owned Assets Supervision and Administration Commission) holds 44.94% [1] Business Focus - Feihong Testing Company specializes in various services including unmanned system air-ground collaborative tactics training, testing and certification, training and certification, research test flights, maintenance support, exhibition and display, competition measurement, unmanned transportation services, and disaster prevention and emergency rescue [1]