安达维尔成立于2001年12月3日，于2017年11月9日在深圳证券交易所上市，注册地址和办公地址均位于北 京市。该公司是国内航空机载设备领域的专业企业，具备全产业链服务能力，在航空装备维修等业务上有 较强技术优势。 公司主营业务涵盖机载设备研制、机载设备维修、测控设备研制、航材贸易、技术服务及其他，所属申万 行业为国防军工 - 航空装备Ⅱ - 航空装备Ⅲ，涉及小盘、通用航空、军民融合核聚变、超导概念、核电等 概念板块。 经营业绩：营收行业第37，净利润第41 2025年三季度，安达维尔营业收入4.47亿元，行业排名37/48，远低于行业第一名中航西飞的302.44亿元和 第二名航发动力的229.12亿元，也低于行业平均数34.56亿元和中位数11.71亿元。主营业务构成中，机载设 备1.07亿元占比40.40%，航空维修8114.71万元占比30.75%，测控及保障设备4338.04万元占比16.44%，技 术服务及其他3275.43万元占比12.41%。当期净利润 -157.1万元，行业排名41/48，与第一名中航沈飞的 13.69亿元和第二名中航机载的11.62亿元差距巨大，低于行业平均数2.24亿元和 ...

Core Viewpoint - The controlling shareholder of Hangxin Technology (300424) is planning to change, which may lead to a shift in the company's actual controller [1][4]. Group 1: Control Change Announcement - Hangxin Technology announced on October 27 that its controlling shareholder, Guangzhou Hengmao, is planning a change in control, which may result in a change of the actual controller [1][4]. - The stock and convertible bonds of Hangxin Technology will be suspended from trading starting October 28, 2025, for a period not exceeding two trading days due to this uncertainty [1][4]. - Guangzhou Hengmao became the controlling shareholder of Hangxin Technology in June 2021 after acquiring shares from previous shareholders [3][4]. Group 2: Financial Performance and Stock Movement - Hangxin Technology's stock price has increased by over 30% since the end of September 2025, with a single-day increase of over 10% just before the trading suspension [2][4]. - Since Guangzhou Hengmao took control, Hangxin Technology has been in a state of "increasing revenue but not increasing profit," and it is expected to incur losses again in 2024 [2][6]. - As of June 30, 2025, Hangxin Technology reported a net loss of approximately 95.38 million yuan for the year 2024 [6]. Group 3: Financial Health and Credit Rating - As of June 30, 2025, Hangxin Technology's accounts receivable stood at 698 million yuan, while cash reserves were only 290 million yuan, indicating potential liquidity issues [8]. - The company's asset-liability ratio was approximately 68.98% as of June 30, 2025, reflecting a high level of debt [9]. - The company's credit rating was downgraded to "A-" due to issues related to revenue recognition and internal control problems, as well as the freezing of shares held by limited partners of Guangzhou Hengmao [7][8].