证券代码：920116 证券简称：星图测控 公告编号：2025-021 中科星图测控技术股份有限公司 2024 年年度权益分派预案公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 中科星图测控技术股份有限公司（以下简称"公司"）为积极履行回报股东 义务，根据法律法规及《公司章程》的相关规定，综合考虑公司目前总体运营情 况及所处发展阶段，拟定 2024 年年度分红方案如下： 一、权益分派预案情况 根据公司 2025 年 3 月 3 日披露的 2024 年年度报告（财务报告已经审计）， 截至 2024 年 12 月 31 日，上市公司合并报表归属于母公司的未分配利润为 162,444,854.78 元，母公司未分配利润为 149,492,125.58 元。母公司资本公积为 184,631,849.81 元（其中股票发行溢价形成的资本公积为 184,631,849.81 元，其 他资本公积为 0 元）。 本次权益分派预案经公司 2025 年 3 月 3 日召开的董事会审议通过，该议案 尚需提交公司 202 ...

Core Viewpoint - The strategic cooperation between Zhongke Xingtou Measurement and Control Technology Co., Ltd. and Beijing Aerospace Yuxing Technology Co., Ltd. aims to enhance commercial aerospace measurement and control services through deep collaboration in technology and market advantages [1] Group 1: Strategic Cooperation - The signing ceremony took place in Hefei, attended by key executives from both companies, indicating a high-level commitment to the partnership [1] - The collaboration will focus on integrating space management and aerospace infrastructure advantages, enhancing cooperation in aerospace measurement and control management, global station network construction, and space data platforms [1] Group 2: Technological Integration - The partnership aims to promote the application of new generation information technologies, such as AI large models, in the aerospace field, thereby improving the intelligence level of commercial aerospace systems [1] - By leveraging station network integration, data sharing, and joint technology development, the companies plan to establish a new paradigm for intelligent space management [1] Group 3: Industry Impact - The strategic collaboration is expected to set a new benchmark in the commercial aerospace sector and accelerate the digitalization and intelligent transformation of aerospace technology, contributing to the high-quality development of China's aerospace industry [1]

证券代码：920116 证券简称：星图测控 公告编号：2025-011 中科星图测控技术股份有限公司 2024 年年度业绩快报公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 特别提示：本公告所载 2024 年年度主要财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司 2024 年年度报告中披露的数据为准，提请投 资者注意投资风险。 一、2024 年年度主要财务数据和指标 单位：元 | 项目 | 本报告期 | 上年同期 | 变动比例% | | --- | --- | --- | --- | | 营业收入 | 288,346,125.83 | 229,035,156.59 | 25.90% | | 利润总额 | 91,880,933.55 | 67,179,537.11 | 36.77% | | 归属于上市公司股 东的净利润 | 84,974,393.95 | 62,627,922.69 | 35.68% | | 归属于上市公司股 东的扣除非经常性 | 60,312,530.45 | 50 ...

关于使用部分闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、授权委托理财情况 （一）审议情况 中科星图测控技术股份有限公司（以下简称"公司"）于 2025 年 2 月 11 日 召开第一届董事会第二十二次会议、第一届监事会第十二次会议，审议通过了《关 于使用部分闲置募集资金进行现金管理》的议案，为提高闲置募集资金使用效率， 在确保资金安全、保证日常流动资金需要的前提下，公司拟使用不超过人民币 1.24 亿元的闲置募集资金进行现金管理，择机购买安全性高、流动性好、能够保 障投资本金安全的产品，主要为结构性存款、通知存款、大额存单等产品，不影 响募集资金投资计划正常进行。在上述额度内，资金可循环滚动使用，拟投资的 期限最长不超过 12 个月，如单笔产品存续期超过前述有效期，则决议的有效期 自动顺延至该笔交易期满之日。公司董事会授权董事长在上述额度范围内行使相 关投资决策权并签署相关文件，财务负责人负责具体组织实施及办理相关事宜。 部分暂时闲置募集资金进行现金管理到期收 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1][3]. Core Viewpoints - The company, Xingtou Measurement and Control, is positioned as a national-level specialized and innovative "little giant" enterprise focusing on satellite measurement and control management, as well as digital simulation in the commercial aerospace sector [3][21]. - The company achieved revenue of 163 million yuan in the first three quarters of 2024, representing a year-on-year growth of 34.34%, and a net profit of 50 million yuan, up 82.10% year-on-year [3][51]. - The report anticipates that the company's net profit will reach 87 million yuan, 107 million yuan, and 129 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 0.76, 0.93, and 1.13 yuan per share [3][49]. Company Overview - The company specializes in providing comprehensive solutions in the aerospace field, including technical development and services, software sales, measurement and control ground system construction, and system integration [25][26]. - The main revenue contributors are technical development and services, which accounted for 88.93% of revenue in the first half of 2024, while measurement and control ground system construction has emerged as a new growth point [41][42]. - The company has expanded its business from specialized fields to civil and commercial aerospace, with a significant increase in revenue from the civil and commercial sectors, rising from 3.73% in 2021 to 34.81% in 2023 [44][46]. Industry Insights - The commercial aerospace industry in China is entering a golden period, with the satellite internet becoming a prevailing trend, driven by supportive policies and technological advancements [60][61]. - The report highlights that the commercial aerospace market in China is expected to reach 2.34 trillion yuan by 2024, indicating substantial growth potential [4][61]. - The demand for satellite measurement and control services is rapidly expanding due to the increasing number of satellites in orbit, projected to reach 8,000 by 2024 [4][61].

Investment Rating - The report assigns an "Accumulate" rating for the company, Star Map Measurement and Control [1][3]. Core Viewpoints - Star Map Measurement and Control is positioned as a national-level specialized and innovative "little giant" enterprise, focusing on satellite measurement and control management and digital simulation, with significant growth potential driven by the expanding commercial aerospace and satellite internet markets [3][4]. - The company achieved revenue of 163 million yuan in the first three quarters of 2024, representing a year-on-year increase of 34.34%, and a net profit of 50 million yuan, up 82.10% year-on-year [3][51]. - The report forecasts the company's net profit for 2024-2026 to be 87 million, 107 million, and 129 million yuan respectively, with corresponding EPS of 0.76, 0.93, and 1.13 yuan per share, indicating a strong growth trajectory [3][4]. Company Overview - Star Map Measurement and Control specializes in satellite on-orbit management and services, providing comprehensive solutions that include technical development, software sales, ground system construction, and system integration [21][25]. - The company's main products and services are categorized into technical development and services, software sales, ground system construction, and system integration, with a focus on customized solutions for various aerospace applications [25][26]. Financial Summary - The company expects to achieve a total revenue of 287 million yuan in 2024, with a net profit of 83 million yuan, reflecting a year-on-year growth of 25.50% and 32.18% respectively [49]. - From 2021 to 2023, the company's revenue grew from 104 million yuan to 229 million yuan, with net profits increasing from 35 million yuan to 63 million yuan, showcasing a robust growth trend [49][51]. - The gross profit margin has remained stable, with a slight decline in recent years, indicating effective cost management despite increasing operational scale [53][58]. Industry Insights - The commercial aerospace sector is entering a golden period, with supportive policies and technological advancements driving rapid growth in satellite internet and measurement and control services [4][61]. - The report highlights that the global satellite count is expected to reach 8,000 by 2024, significantly increasing the demand for ground measurement and control services [4][61]. - The market for ground segment services is projected to reach 35 billion USD between 2026 and 2030, indicating a substantial opportunity for companies in the aerospace measurement and control sector [4][61].

Group 1: Investor Relations Activity Overview - The investor relations activity was conducted on February 20, 2025, at multiple locations in Shenzhen [3] - Attendees included representatives from various investment firms such as Baoying Fund and Dachen Fund [3] - Company representatives included the board members, vice general manager, financial director, and board secretary Zhang Zihang [3] Group 2: Insights on the "Insight" Platform - The "Insight" platform is a comprehensive software for aerospace mission analysis, providing support for mission design, testing, launch, operation, and application [4] - It integrates various service modules and algorithms to meet diverse aerospace mission requirements and enhance delivery efficiency [4] Group 3: Industry Challenges and Responses - The company faces challenges related to national industrial policies and limited talent reserves in multidisciplinary fields [5] - To address these challenges, the company has increased R&D investment and talent acquisition, establishing a product and service system based on the "Insight" platform [5] - The company aims to leverage technological and product advantages to improve market position as demand for special, civilian, and commercial aerospace grows [5] Group 4: Core Technologies - The company has developed core technologies in high-precision trajectory, attitude, control calculations, and intelligent scheduling of measurement and control resources [6] - These technologies support the development of the "Insight" series products, forming a highly coordinated technical system [6] - The capabilities include autonomous operation and intelligent scheduling for aerospace missions, ensuring stable business development [7]

链接天地，航天测控"小巨人"有望充分受益于卫星互联网建设 加速 ——星图测控深度报告 | | | | | | 执业证书编号：S0740519050004 Email：fengsheng@zts.com.cn 执业证书编号：S0740524060001 Email：songhq01@zts.com.cn | 基本状况 | | --- | 起家于特种领域，公司背靠中科星图积极拓展民用、商用领域。公司从特种领域业务 起家，高度重视技术研发。依靠其丰富项目经验与技术储备，公司近年从特种领域积 | 总股本(百万股) | 114.13 | | --- | --- | | 流通股本(百万股) | 26.13 | | 市价(元) | 58.98 | | 市值(百万元) | 6,731.09 | | 流通市值(百万元) | 1,540.85 | 星图测控（920116.BJ） 证券研究报告/公司深度报告 2025 年 02 月 17 日 | 评级： | 增持（首次） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [5][8]. Core Viewpoints - The company is positioned as a national team in the measurement and control sector, backed by the Chinese Academy of Sciences, and is expanding into commercial fields from its specialized domain [5][10]. - The report highlights the increasing competition in the aerospace industry, emphasizing that measurement and simulation are foundational for industry development [19][20]. - The company has developed proprietary technology and products, aiming to replace international mainstream aerospace analysis software with domestic alternatives [10][11]. Summary by Relevant Sections Market Performance - As of February 13, 2025, the closing price is CNY 58.50, with a market capitalization of CNY 6,676.31 million and a circulating market value of CNY 1,528.31 million [3]. Financial Forecast and Valuation - The company is projected to achieve revenues of CNY 287 million in 2024, with a year-on-year growth rate of 25.50%. The net profit attributable to shareholders is expected to be CNY 83 million, reflecting a year-on-year increase of 32.19% [6][8]. - The report forecasts net profits for 2024-2026 to be CNY 0.83 billion, CNY 1.06 billion, and CNY 1.39 billion, respectively, with corresponding P/E ratios of 80.6, 63.2, and 48.0 [8][10]. Industry Overview - The global commercial aerospace sector is rapidly expanding, with significant investments in satellite internet constellations. The Chinese satellite internet market is expected to reach CNY 450 billion by 2025, driving demand for measurement and simulation services [30][31]. - The report notes that the company has a strong order reserve and has successfully completed large, complex projects in the commercial sector, indicating a robust growth trajectory [10][11]. Business Development - The company has established a solid foundation in specialized aerospace fields and is now leveraging its experience to transition into commercial sectors. It has already secured significant revenue from commercial projects [10][11]. - The report emphasizes the company's commitment to developing a new generation of software platforms and service centers, funded through its IPO proceeds [10][11].