航宇科技 20250522 摘要 公司 2025 年一季度收入环比提升，但未达去年同期，受国内航空市场 影响，恢复趋势明显。全年增长点预计来自外贸业务、国内燃机、水下、 核电等领域，预计 2025 年业绩将超 2024 年。 地缘政治短期影响不大，通过灵活调整交付地点应对。预计 2025 年海 外业务保持 30%以上增速，受益于长期协议份额提升，与贝克休斯、西 门子等在燃气轮机领域有新合作，订单充足。 航空发动机领域增速预计超下游厂商，因新增建大号及份额提升，现有 长协续签至 2028-2030 年，保障未来需求。海外业务规模提升，运营 效率提高，外贸毛利率目标 30%以上。 燃气轮机领域预计未来两年保持 50%以上增速，部分采用长协模式。需 求旺盛及产业链产能紧张，公司在成本、交期服务上具优势，大订单排 至 2030 年前后。 国内市场预期下半年改善，下游客户库存优化，交付计划和需求更明确。 高温合金和钛合金供应充足，缓解前期紧张。 Q&A 公司最近的整体情况如何？ 公司在 2025 年 4 月公布了 2024 年年报和 2025 年一季报。整体业绩较为平 稳，2024 年的收入有所下滑，主要受到国内航空市 ...

证券代码：300775 证券简称：三角防务 债券代码：123114 债券简称：三角转债 西安三角防务股份有限公司 投资者关系活动记录表 编号：2025—001 | | □特定对象调研□分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访√业绩说明会 | | 类别 | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称及 | 线上参与公司 2024 年度网上业绩说明会的投资者 | | 人员姓名 | | | 时间 | 2025 年 5 月 20 日 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采 | | | 用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 1、董事长严建亚 | | 员姓名 | 2、总经理、董事虢迎光 | | | 3、财务总监、董事会秘书杨伟杰 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： 亿元，是 | | | 1、2024 年投资性房地产公允价值变动收益达 0.28 | | | 否因公司通过房产增值调 ...

Group 1: Company Overview and Strategy - The company focuses on continuous R&D innovation to enhance product competitiveness and meet customer needs, aiming to increase market share [2] - The CNC machine tools launched in 2022 target the mid-to-high-end market, leveraging nearly 30 years of self-research experience [2] - The electric heating vulcanization machine has shown significant advantages in energy saving and environmental protection compared to traditional steam vulcanization machines [3] Group 2: Business Performance and Projections - Current business orders are robust, with expectations for sustained healthy development and good performance returns to investors [3] - The high-end casting project, with a capacity of 65,000 tons, is primarily for wind power components and is expected to start production around June 2025 [3] - The company anticipates a doubling of overall business output value for the vulcanization machine by 2025, indicating substantial market potential [5] Group 3: Market Demand and Trends - The market demand for wind power components is recovering in 2024 compared to the second half of 2023, while the gas turbine component demand remains strong [4] - The gas turbine market is expected to grow due to rising global electricity demand, with the company currently operating at full capacity [4] - Wind power product prices are volatile, while gas turbine product prices remain relatively stable [4] Group 4: International Expansion and Operations - The company has established subsidiaries in various countries, including the USA, Thailand, Hungary, India, Brazil, Vietnam, Mexico, and Cambodia, creating a comprehensive global production service system [5] - The company collaborates with numerous domestic and international enterprises for CNC systems and components [5] Group 5: Investor Relations and Future Plans - The company plans to optimize investor return mechanisms based on operational performance and shareholder demands [5] - There are currently no plans to inject related company businesses into the listed company, with any future developments to be disclosed as required [5]