贵州航宇科技发展股份有限公司2025 年第一季度报告 证券代码：688239 证券简称：航宇科技 债券代码：118050 债券简称：航宇转债 贵州航宇科技发展股份有限公司 2025 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | | | | 本报告期比上 | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 年同期增减变 | | | | | 动幅度(%) | | 营业收入 | 421,927,003.21 | 577,885,209.57 | -26.99 | | 归属于上市公司股东 ...

重要内容提示: | 证券代码：688239 | 证券简称：航宇科技 | 公告编号：2025-037 | | --- | --- | --- | | 转债代码：118050 | 转债简称：航宇转债 | | 贵州航宇科技发展股份有限公司 关于 2022 年第二期限制性股票激励计划首次授予 （暂缓授予部分）第一类限制性股票第二个解除限售 期解除限售条件成就的公告 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、准确性和完整性承担个别及连带责任。 本次激励计划共授予的限制性股票数量 335.67 万股，占本次激励计划草案 公告时公司股本总额14,000万股的2.3976%。其中本次激励计划首次授予305.67 万股，占本次激励计划公告日公司股本总额 14,000 万股的 2.1834%，本次激励 计划首次授予部分占本次激励计划授予权益总额的 91.06%；本次激励计划预留 30.00 万股，占本次激励计划公告日公司股本总额 14,000 万股的 0.2143%，本次 激励计划预留部分占本次激励计划授予权益总额的 8.94%。 （二）本激励计划已履行的决策程序 1、 ...

| 证券代码：688239 | 证券简称：航宇科技 | 公告编号：2025-040 | | --- | --- | --- | | 转债代码：118050 | 转债简称：航宇转债 | | 贵州航宇科技发展股份有限公司 关于注销部分募集资金专户的公告 本公司董事会及全体董事保证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。 公司在中国工商银行股份有限公司贵阳白云支行、中国建设银行股份有限公 司贵阳京瑞支行、中国农业银行股份有限公司贵阳黔灵支行、兴业银行股份有限 公司贵阳分行、中信银行股份有限公司成都分行、成都银行股份有限公司德盛支 行开设了募集资金专户。公司全资子公司四川德兰航宇科技发展有限责任公司在 成都银行股份有限公司德盛支行开设了募集资金专户。并与保荐机构中信证券股 份有限公司（以下简称"中信证券"）、存放募集资金的各商业银行分别签署了 《募集资金专户存储三方监管协议》,公司及全资子公司四川德兰航宇科技发展 有限责任公司已与保荐机构中信证券、存放募集资金的成都银行股份有限公司德 盛支行签署了《募集资金专户存储四方监管协议》，明确了各方的权利和义务 ...

Group 1 - The stock of Aerospace Technology (航宇科技) has a comprehensive score of 50.99, indicating a strong performance [1] - The main cost analysis shows the following prices: current main cost at 40.75 CNY, 5-day main cost at 41.78 CNY, 20-day main cost at 40.82 CNY, and 60-day main cost at 41.34 CNY [1][3] - There have been no instances of the stock hitting the upper or lower limits in the past year [1] Group 2 - The short-term pressure level is at 42.76 CNY, while the short-term support level is at 39.80 CNY [2] - The K-line pattern indicates a "Three Black Crows" formation, suggesting a potential peak and subsequent decline [2] - The net outflow of main funds on April 25, 2025, was 16.08 million CNY, accounting for 16% of the total transaction volume [2][3] Group 3 - The latest financial data shows earnings per share at 0.3 CNY, with a sales gross margin of 24.217% [2][4] - The stock is associated with various sectors, including Aerospace (-0.14%), Commercial Aerospace (0.10%), Large Aircraft (-0.07%), and Western Development (0.16%) [2][4]

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company reported a revenue of 1.805 billion yuan for 2024, a year-on-year decrease of 14.19%, while the net profit attributable to the parent company was 189 million yuan, an increase of 1.63% year-on-year [7] - The company has a robust order backlog, with a total order amount of 2.782 billion yuan as of the end of 2024, indicating potential growth in revenue [7] - The company is actively expanding into emerging sectors such as gas turbines, nuclear power, hydrogen energy, and marine equipment, which may contribute to future revenue growth [7] Financial Data and Profit Forecast - Total revenue is projected to increase from 2.127 billion yuan in 2025 to 2.874 billion yuan in 2027, with a compound annual growth rate of approximately 16.7% [6][8] - The net profit attributable to the parent company is expected to rise from 244 million yuan in 2025 to 374 million yuan in 2027, reflecting a strong growth trajectory [6][8] - The company's gross margin is expected to stabilize around 27.6% from 2025 to 2027, indicating effective cost control measures [6][8]

中信证券股份有限公司 关于贵州航宇科技发展股份有限公司 （3）查阅公司定期报告往来科目明细，查阅会计师出具的 2024 年度审计报 告（大信审字[2025]第 32-00010 号）、非经营性资金占用及其他关联资金往来情 况汇总表的专项审计报告（大信专审字[2025]第 32-00008 号）； 1 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为正在对 贵州航宇科技发展股份有限公司（以下简称"航宇科技"或"公司"或"上市公 司"）进行持续督导工作的保荐人，根据《证券发行上市保荐业务管理办法》、 《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持续督导职 责，并出具 2024 年度（以下简称"本持续督导期"）持续督导跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 4 月 17 日对公司进行了现场检查。 4、本持续 ...

中信证券股份有限公司 关于贵州航宇科技发展股份有限公司 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （二）保荐代表人 李良、梁勇 （三）现场检查人员 李良 2024 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"或"保荐 人"）作为正在对贵州航宇科技发展股份有限公司（以下简称"航宇科技""公司" "上市公司"）进行持续督导工作的保荐人，对 2024 年度（以下简称"本持续督 导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报告如下： （四）现场检查时间 2025 年 4 月 17 日 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 1 （六）现场检查手段 本次现场检查的手段主要包括资料查阅、访谈、现场查看 ...

Group 1 - The stock of Aerospace Technology (688239) has a comprehensive score of 44.84, indicating a weak performance [1] - The main cost analysis shows the following prices: current main cost at 39.80 yuan, 5-day main cost at 39.55 yuan, 20-day main cost at 40.87 yuan, and 60-day main cost at 41.23 yuan [1] - There have been no instances of the stock hitting the upper or lower limit in the past year [1] Group 2 - The short-term pressure level is at 40.77 yuan, while the short-term support level is at 38.48 yuan [2] - The mid-term pressure level is at 43.25 yuan, and the mid-term support level is at 37.35 yuan [2] - The current short-term and mid-term trends are unclear, awaiting direction from main capital [2][3] Group 3 - On April 18, 2025, the net outflow of main capital was 11.56 million yuan, accounting for 13% of the total transaction amount [2] - There was a net inflow of 1.04 million yuan from large orders, while there was a net outflow of 12.60 million yuan from big orders [2] - Retail investors experienced a net outflow of 2.73 million yuan [2] Group 4 - The latest financial data shows earnings per share at 0.3 yuan, with a sales gross margin of 24.217% [2][3] - There is no reported operating profit or net profit for the period [2][3] - The stock is associated with industries such as aerospace (-1.16%), commercial aerospace (0.25%), large aircraft (-0.77%), and western development (-0.41%) [2][3]

Core Viewpoint - The company reported a revenue of 1.805 billion yuan for 2024, a year-on-year decrease of 14.19%, while net profit attributable to shareholders was 189 million yuan, an increase of 1.63% [1] Group 1: Financial Performance - The company's revenue for 2024 was 1.805 billion yuan, down 14.19% year-on-year, primarily due to a reduction in revenue from aerospace and energy forgings [1] - The net profit attributable to shareholders was 189 million yuan, reflecting a year-on-year increase of 1.63%, supported by improved gross and net profit margins [1] - The gross margin for 2024 was 28.0%, up 1.2 percentage points year-on-year, attributed to manufacturing process optimization and cost reduction efforts [1] - The operating expense ratio was 12.1%, down 1.6 percentage points year-on-year, with management expenses decreasing due to unachieved stock incentive targets [1] Group 2: Business Structure and Growth - The revenue from aerospace forgings was 1.364 billion yuan, down 9.14% year-on-year, while revenue from gas turbine forgings increased by 20.70% to 201 million yuan, indicating a shift in business structure [2] - The company ended the downward trend in Q4 2024 with a revenue of 393 million yuan, maintaining the same level as Q4 2023, and a net profit of 41 million yuan, up 121.5% year-on-year [2] - The company achieved a record high of 763 million yuan in overseas revenue for 2024, an increase of 25.11% year-on-year, indicating strong international business growth [2] Group 3: Strategic Initiatives - The company is deepening ties with top international clients in the energy and aerospace sectors, enhancing its competitive edge and future growth prospects [3] - The acquisition of 90% of Chengdu Chenghangfa for 65.7 million yuan will enhance the company's capabilities in precision machining and component assembly [3] - The company is preparing to build a large-scale precision manufacturing industrial park for aerospace and aviation components, which is expected to significantly increase production capacity [3] Group 4: Investment Outlook - Short-term prospects are positive with concentrated deliveries of international aerospace orders and a rebound in aerospace forging demand, leading to significant growth in 2025 [4] - The company is diversifying into fourth-generation nuclear power, deep-sea technology, and commercial aerospace, continuously cultivating new growth points [4] - Projected net profits for 2025-2027 are 261 million, 343 million, and 413 million yuan, with corresponding EPS of 1.77, 2.32, and 2.79 yuan, indicating a favorable valuation [4]

证券代码：688239 证券简称：航宇科技 公告编号：2025-034 转债代码：118050 转债简称：航宇转债 贵州航宇科技发展股份有限公司 关于实际控制人及其一致行动人权益变动 触及 1%整数倍的提示性公告 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： 本次权益变动为贵州航宇科技发展股份有限公司（以下简称"公司"） 实际控制人及其一致行动人减持公司可转换公司债券（以下简称"可转债"），导 致其拥有公司的合并权益比例由 25.00%减少至 23.97%，权益变动触及 1%的整 数倍，不触及要约收购。 本次权益变动后，公司实际控制人张华及其一致行动人山东怀谷企业管 理有限公司（以下简称"山东怀谷"）、张诗扬、张跃共持有人民币普通股 38,745,694 股，可转债 513,070 张，合并计算股份与可转债可转股股份后的权益 比例 23.97%。 本次权益变动不会导致公司控股股东、实际控制人发生变化。 近日，公司收到公司实际控制人及其一致行动人山东怀谷、张诗扬、张跃的 书面通知，前述信息披露义务人 202 ...