西安晨曦航空科技股份有限公司 2025 年半年度报告全文 西安晨曦航空科技股份有限公司 【2025 年 8 月】 西安晨曦航空科技股份有限公司 2025 年半年度报告全文 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人吴星宇、主管会计工作负责人刘蓉及会计机构负责人(会计主 管人员)张笙瑶声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 (一)国家秘密泄密及技术泄密的风险 根据《武器装备科研生产单位保密资格审查认证管理办法》，拟承担武 器装备科研生产任务的具有法人资格的企事业单位，均须经过保密资格审查 认证。公司取得了相关证书，公司在生产经营中一直将安全保密工作放在首 位，采取各项有效措施保守国家秘密，也防止技术泄密，但不排除一些意外 情况发生导致有关国家秘密泄露，或出现技术泄密或被动失密。如发生严重 泄密事件，可能会导致公司丧失保密资质，不能继续开展涉密业务，则会对 公司的生产经营产生严重不利影响。 (二)军品业务特点导致公司业务波动甚至业 ...

2025年上半年，众合科技智慧交通业务实现收入4.39亿元，同比增长16.77%；新增订单10.46亿元，同 比增长52.89%。 其中，公司国际化拓展成果显著，中标哈萨克斯坦阿斯塔纳轻轨一期信号系统项目，作为中亚首条全中 国标准轻轨线路的核心子系统，标志着中国轨道交通关键技术首次实现"一带一路"沿线出口，意义非 凡。与此同时，绍兴、沈阳、杭州等多个城市项目也顺利交付，国内外市场齐头并进。 低空与低轨：双赛道协同拓展新空间 近日，众合科技（000925）发布2025年半年度报告。报告显示，公司上半年实现营业收入6.88亿元，同 比增长13.77%；归母净利润-6669.78万元，亏损同比收窄24.77%。 值得注意的是，公司二季度单季实现营业收入约4.68亿元，环比一季度增长约112.67%；归母净利润环 比一季度减亏约66.53%。公司表示，二季度业绩修复明显，得益于智慧交通业务项目交付加快、半导 体材料业务稳步增长，以及成本费用管控成效的持续释放。 智慧交通订单大幅增长，海外项目实现突破 与杭实集团携手打造低空治理新平台 近日，众合科技与杭实集团旗下杭州市低空产业发展有限公司完成股权资金直投签约，携手成立 ...

Group 1 - Yunnan Province government has issued measures to support the healthy development of the low-altitude economy, including the creation of new low-altitude cultural tourism formats and the issuance of 20 million yuan in consumption vouchers annually to support activities like skydiving, low-altitude sightseeing, drone performances, and flight experiences [1] - According to Yuekai Securities, the low-altitude economy industry chain involves manufacturing, services, and consumption, with a solid industrial chain foundation in China. The low-altitude economy index is expected to outperform the market in 2024, maintaining a relatively high level in the first half of 2025 [1] - The low-altitude manufacturing sector in China has advantages in drone technology and promising developments in eVTOL. Infrastructure construction is accelerating under dual support from central and local governments, while the application and operation phase is crucial for establishing benchmark scenarios and pilot projects, particularly in cultural tourism and logistics [1] Group 2 - Galaxy Securities anticipates that 2025 will be the year of commercial application for the low-altitude economy, with accelerated construction of air traffic management systems and takeoff/landing sites [2] - A rail transit control system company has a technical foundation for extending into low-altitude airspace management and has launched low-altitude products such as flight control computers and air traffic management systems since 2024, achieving a breakthrough in low-altitude business [2]

Group 1 - The low-altitude economy is expected to become a trillion-level new sector in the next 3-5 years, reshaping urban transportation, logistics, and tourism industries, with significant investment opportunities in the related industrial chain [1] - The Shenzhen government has introduced the first local special regulations on low-altitude economy, aiming to enhance infrastructure and service systems, with nearly 300 drone routes and over 1.7 million cargo flights completed [1][2] - The national policy support for low-altitude economy has been increasing, with projections indicating a market size of 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035 [2] Group 2 - Companies are actively engaging in the low-altitude economy, with Deep City Transportation focusing on developing a new generation of urban transportation systems and expanding into various technological fields [2][3] - Changyi Technology has established a subsidiary for drone assembly and parts production, while companies like Aosheng Technology are innovating in solid-state battery materials, which have applications in low-altitude economy [3] - Analysts predict that 2025 will mark the year of large-scale operations in the low-altitude economy, with significant advancements in infrastructure and commercial applications [4]

Group 1 - Shenzhen has introduced the first local special regulations on low-altitude economy in China, aiming to enhance infrastructure and resource allocation for low-altitude flights [1] - The city has a leading position in the production of consumer and industrial drones, with nearly 300 drone routes opened and over 1.7 million cargo flights completed [1] - China Galaxy Securities predicts that 2025 will mark the year of commercial application for the low-altitude economy, with accelerated construction of air traffic management systems and takeoff/landing sites [1] Group 2 - Since 2024, the national government has been actively promoting the development of low-altitude economy, with policies at both the top and local levels driving improvements in planning [2] - The year 2025 is expected to transition low-altitude economy from planning to industrial implementation, contingent on a well-developed digital infrastructure [2] - There is a strong emphasis on achieving nationwide low-altitude communication and navigation system coverage by 2025, indicating urgent needs for large-scale construction [2]