登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688375 证券简称：国博电子 公告编号：2025-046 南京国博电子股份有限公司 关于增加2025年度日常关联交易预计及 2026年度日常关联交易预计的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次日常关联交易事项尚需提交股东会审议。 ● 本次拟增加的2025年度日常关联交易预计为向关联人/委托关联人销售商品，交易金额预计增加 13,650.00万元；向关联人采购除商品以外的其他资产，交易金额预计增加51.00万元。 ● 本次2026年度日常关联交易预计为南京国博电子股份有限公司（以下简称"公司"或"国博电子"）基于 本公司和关联方之间的正常生产经营需要。关联交易双方以平等互利、相互协商为合作基础，参考市场 公允价格进行协商定价，不存在损害公司及股东利益的情形，不影响公司的独立性，公司不会因该等关 联交易对关联方产生依赖。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于2025年4月10日召开了第二届董事会 ...

机构持仓方面，截止2025年9月30日，国博电子十大流通股东中，华夏军工安全混合A（002251）位居 第七大流通股东，持股1089.26万股，相比上期增加203.32万股。长城久嘉创新成长混合A（004666）位 居第九大流通股东，持股380.00万股，相比上期减少120.00万股。易方达上证科创板50ETF（588080） 位居第十大流通股东，持股285.61万股，相比上期减少34.96万股。华夏上证科创板50成份ETF （588000）退出十大流通股东之列。 12月3日，国博电子跌1.36%，成交额1.54亿元。两融数据显示，当日国博电子获融资买入额3576.30万 元，融资偿还506.34万元，融资净买入3069.96万元。截至12月3日，国博电子融资融券余额合计2.26亿 元。 责任编辑：小浪快报 融资方面，国博电子当日融资买入3576.30万元。当前融资余额2.25亿元，占流通市值的0.58%，融资余 额超过近一年70%分位水平，处于较高位。 截至9月30日，国博电子股东户数7039.00，较上期减少5.96%；人均流通股84673股，较上期增加 138.74%。2025年1月-9月，国博电子实现 ...

Core Viewpoint - Guobang Electronics has shown a significant stock performance with a year-to-date increase of 45.22%, despite a recent decline in revenue and profit [1][2]. Financial Performance - As of September 30, 2025, Guobang Electronics reported a revenue of 1.569 billion yuan, a year-on-year decrease of 13.51%, and a net profit attributable to shareholders of 247 million yuan, down 19.35% year-on-year [2]. - The company has distributed a total of 999.2 million yuan in dividends since its A-share listing, with 792 million yuan distributed over the past three years [3]. Stock Market Activity - On November 14, Guobang Electronics' stock price rose by 2.04% to 71.10 yuan per share, with a market capitalization of 42.377 billion yuan [1]. - The stock has seen a trading volume of 13 million yuan, with a turnover rate of 0.03% [1]. - The net inflow of main funds was 1.3376 million yuan, with large orders accounting for 25.41% of purchases [1]. Shareholder Information - The number of shareholders decreased by 5.96% to 7,039, while the average circulating shares per person increased by 138.74% to 84,673 shares [2]. - Among the top ten circulating shareholders, Huaxia Military Safety Mixed A increased its holdings by 2.0332 million shares, while Changcheng Jiujia Innovation Growth Mixed A reduced its holdings by 1.2 million shares [3].

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Views - The company reported a slight decline in revenue for Q3 2025, with total revenue of 1.569 billion yuan for the first three quarters, representing a year-over-year decrease of 13.51%. The net profit attributable to shareholders was 247 million yuan, down 19.35% year-over-year [1]. - The company successfully achieved mass production and delivery of over 1 million silicon-based gallium nitride power amplifier chips, which are expected to replace existing gallium arsenide products in various terminal applications [3]. - The company is focusing on expanding applications in satellite and mobile products, with a strong emphasis on the development of new products based on third-generation semiconductor materials [3]. Summary by Sections Financial Performance - For Q3 2025, the company achieved revenue of 498 million yuan, a year-over-year decline of 2.54%. The net profit attributable to shareholders was 46 million yuan, down 26.04% year-over-year [1]. - The gross margin for the first three quarters of 2025 improved by 1.73 percentage points to 38.12%, while the net margin decreased by 1.14 percentage points to 15.75% [1]. - The company’s operating cash flow for the first three quarters was -35 million yuan, compared to 147 million yuan in the same period last year [2]. Product Development and Market Expansion - The company has developed new products in collaboration with leading domestic terminal manufacturers, achieving certification and mass production of silicon-based gallium nitride power amplifier chips [3]. - The new product line is expected to create a second growth curve for the company, with plans for series development to adapt to multi-band and high-efficiency terminal applications [3]. Financial Forecast - The company’s projected net profits for 2025, 2026, and 2027 are 504 million yuan, 679 million yuan, and 883 million yuan, respectively, with corresponding PE ratios of 86x, 64x, and 49x [4][5].

Core Insights - Guobo Electronics experienced a stock price increase of 2.24% on October 13, with a trading volume of 194 million yuan [1] - The company reported a financing net buy of -7.52 million yuan on the same day, indicating a higher level of financing repayment compared to new purchases [1] - As of October 13, the total margin balance for Guobo Electronics reached 318 million yuan, reflecting a high level of financing activity [1] Financing Summary - On October 13, Guobo Electronics had a financing buy amount of 16.01 million yuan, with a current financing balance of 316 million yuan, representing 0.68% of its market capitalization [1] - The financing balance is above the 90th percentile of the past year, indicating a high level of financing [1] - The company also had a short selling activity with 6,927 shares repaid and 3,899 shares sold on the same day, with a short selling balance of 183.25 million yuan, exceeding the 80th percentile of the past year [1] Business Performance - As of June 30, Guobo Electronics had 7,485 shareholders, an increase of 7.39% from the previous period, while the average circulating shares per person decreased by 6.88% [2] - For the first half of 2025, the company reported a revenue of 1.07 billion yuan, a year-on-year decrease of 17.82%, and a net profit attributable to shareholders of 201 million yuan, down 17.66% year-on-year [2] Dividend and Shareholding - Since its A-share listing, Guobo Electronics has distributed a total of 992 million yuan in dividends [3] - As of June 30, 2025, among the top ten circulating shareholders, Huaxia Military Industry Safety Mixed A ranked fifth with 8.86 million shares, an increase of 3.94 million shares from the previous period [3] - Other notable shareholders include Changcheng Jiujia Innovation Growth Mixed A and Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF, with varying changes in their holdings [3]

Core Viewpoint - Guobo Electronics experienced a 5.09% decline in stock price on October 10, with a trading volume of 224 million yuan, indicating market volatility and investor sentiment [1] Financing Summary - On October 10, Guobo Electronics had a financing buy-in amount of 26.94 million yuan and a net financing buy of 10.33 million yuan, with a total financing balance of 326 million yuan, which is 0.72% of its market capitalization [1] - The financing balance is at a high level, exceeding the 90th percentile of the past year [1] Short Selling Summary - On the same day, Guobo Electronics had no shares repaid in short selling, with 7,227 shares sold short, amounting to 547,500 yuan at the closing price [1] - The short selling balance is 2,670 shares, valued at 202,170 yuan, also exceeding the 90th percentile of the past year [1] Company Overview - Guobo Electronics, established on November 27, 2000, and listed on July 22, 2022, is located in Jiangning Economic and Technological Development Zone, Nanjing, Jiangsu Province [1] - The company primarily engages in the research, production, and sales of active phased array T/R components and RF integrated circuits, with revenue composition: T/R components and RF modules 88.19%, RF chips 8.49%, other chips 2.04%, and others 1.28% [1] Financial Performance - For the first half of 2025, Guobo Electronics reported a revenue of 1.07 billion yuan, a year-on-year decrease of 17.82%, and a net profit attributable to shareholders of 201 million yuan, down 17.66% year-on-year [2] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 7.39% to 7,485, while the average circulating shares per person decreased by 6.88% to 35,467 shares [2] - The company has distributed a total of 999.2 million yuan in dividends since its A-share listing [3] - Among the top ten circulating shareholders, notable changes include an increase in holdings by Huaxia Military Industry Safety Mixed A and Changcheng Jiujia Innovation Growth Mixed A [3]

Core Viewpoint - 雷电微力 and 国博电子 have distinct product offerings and technological focuses, with 雷电微力 specializing in T/R components and array antennas, while 国博电子 focuses on active phased array T/R components, RF modules, and RF amplification chips [2]. Company Summary - 雷电微力's product lineup includes T/R components and array antennas, indicating a focus on specific components within the telecommunications sector [2]. - 国博电子's main products consist of active phased array T/R components, RF modules, and RF amplification chips, showcasing a different technological approach and application area compared to 雷电微力 [2]. Industry Summary - The differences in core technologies, product forms, and application fields between 雷电微力 and 国博电子 highlight the diverse landscape within the telecommunications component industry [2].

Group 1 - The core point of the news is that Guobo Electronics has seen a stock price increase of 5.25%, reaching 77.78 CNY per share, with a total market capitalization of 46.358 billion CNY as of September 30 [1] - Guobo Electronics, established on November 27, 2000, primarily engages in the research, production, and sales of active phased array T/R components and RF integrated circuits, with 88.19% of its revenue coming from T/R components and RF modules [1] - The company is located in Jiangning Economic and Technological Development Zone, Nanjing, Jiangsu Province, and was listed on July 22, 2022 [1] Group 2 - Changsheng Fund has a significant holding in Guobo Electronics, with its Changsheng Aerospace Marine Mixed A Fund (000535) reducing its stake by 33,400 shares in the second quarter, now holding 97,400 shares, which represents 3.28% of the fund's net value [2] - The fund has achieved a year-to-date return of 21.15% and a one-year return of 33.9%, ranking 4,464 out of 8,167 and 3,547 out of 8,010 in its category, respectively [2] - The fund manager, Wang Bingfang, has been in charge for 3 years and 72 days, with the fund's total asset size currently at 370 million CNY [3]

Core Insights - Guobo Electronics experienced a stock price increase of 5.06% on September 25, reaching 75.95 CNY per share, with a trading volume of 169 million CNY and a turnover rate of 0.38%, resulting in a total market capitalization of 45.267 billion CNY [1] Company Overview - Nanjing Guobo Electronics Co., Ltd. was established on November 27, 2000, and went public on July 22, 2022. The company is primarily engaged in the research, development, production, and sales of active phased array T/R components and RF integrated circuit-related products [1] - The revenue composition of the company includes T/R components and RF modules at 88.19%, RF chips at 8.49%, other chips at 2.04%, and other revenues at 1.28% [1] Fund Holdings - Longsheng Fund has a significant holding in Guobo Electronics, with the Longsheng Aerospace Marine Mixed A Fund (000535) reducing its position by 33,400 shares in the second quarter, now holding 97,400 shares, which represents 3.28% of the fund's net value, ranking as the ninth largest holding [2] - The Longsheng Aerospace Marine Mixed A Fund was established on March 11, 2014, with a current size of 159 million CNY. Year-to-date returns are 22.43%, ranking 4200 out of 8173 in its category, while the one-year return is 47.26%, ranking 3223 out of 8003 [2]

Group 1 - The report highlights that the overall economic environment is favorable for the bond market, but structural changes may arise if the stock market continues to perform well, potentially diverting demand from bonds [4] - The report indicates that in H1 2025, Weichai Power's revenue reached 113.15 billion yuan, with a year-on-year growth of 0.6%, while the net profit attributable to shareholders decreased by 4.4% to 5.64 billion yuan [6][7] - The report notes that the heavy truck market in China is recovering, with wholesale sales increasing by 7% in H1 2025, and Weichai Power's engine sales reached 362,000 units, a 41% increase year-on-year [7][8] Group 2 - The report states that the REITs market has seen a significant breakthrough with the approval of the first foreign consumer REITs, indicating a growing interest in this investment vehicle [10][11] - The report mentions that the revenue of Hangcha Group reached 9.302 billion yuan in H1 2025, reflecting an 8.74% year-on-year increase, with a net profit of 1.121 billion yuan, up 11.38% [14][15] - The report highlights that the sales volume of industrial vehicles in China reached 739,000 units in H1 2025, with a year-on-year increase of 11.66%, indicating a robust market demand [15][16] Group 3 - The report indicates that Dou Shen Education achieved a revenue of 450 million yuan in H1 2025, representing a year-on-year growth of 36.13%, with a net profit of 104 million yuan, up 50.33% [20][21] - The report states that Weilon Co., Ltd. reported a revenue of 272 million yuan in H1 2025, with a year-on-year increase of 12.86%, and a net profit of 59 million yuan, up 15.14% [24] - The report notes that China Construction Bank's revenue grew by 10.36% year-on-year in Q2 2025, with a significant contribution from non-interest income, which increased by 18.53% [28][29] Group 4 - The report highlights that Anhui Heli's revenue reached 9.4 billion yuan in H1 2025, with a year-on-year increase of 6.2%, and a net profit of 800 million yuan, down 4.6% [32][33] - The report indicates that the entertainment sector, particularly Cat Eye Entertainment, saw a revenue of 2.47 billion yuan in H1 2025, reflecting a year-on-year growth of 13.9%, despite a net profit decline of 37.3% [38][39] - The report mentions that Jingwei Hengrun achieved a revenue of 2.908 billion yuan in H1 2025, with a year-on-year growth of 43.48%, and successfully turned a profit in Q2 2025 [42][43]