Core Viewpoint - The company has announced a change in the project quality review personnel for its annual audit, transitioning from Feng Faming to Li Yulong, who will oversee the 2025 financial report and internal control audit [1][5]. Group 1: Change Announcement - The company held meetings on October 30, 2025, and November 20, 2025, to approve the reappointment of Da Xin Accounting Firm for the 2025 audit services [1]. - The change in project quality review personnel is due to the work adjustment of the original reviewer, Feng Faming [1]. Group 2: New Personnel Information - Li Yulong, the new project quality review personnel, is a certified public accountant with experience in auditing listed companies since 2012 and has been with Da Xin since then [2]. - Over the past three years, Li Yulong has signed or reviewed audit reports for four listed companies [2]. Group 3: Integrity and Independence - Li Yulong has no criminal penalties or administrative sanctions from regulatory bodies in the past three years [3]. - There are no violations of the independence requirements as per the Code of Ethics for Certified Public Accountants [4]. Group 4: Impact on the Company - The transition of responsibilities has been orderly, and the change will not adversely affect the company's 2025 financial report and internal control audit [5].

Group 1 - The company announced that Daxin will serve as the auditing institution for its 2025 financial report and internal control audit [2] - The original project quality review personnel, Feng Faming, has been replaced by Li Yulong due to work adjustments [2] - After the change, Li Yulong will be the quality review personnel for the company's 2025 financial report and internal control audit project [2]

证券代码：688297 证券简称：中无人机 公告编号：2026-012 大信为公司 2025 年度财务报告和内部控制审计机构，原指派项目质量复核人员 冯发明为公司提供审计服务。鉴于原项目质量复核人员冯发明工作调整，大信现拟将 项目质量复核人员冯发明变更为李玉龙。变更后公司 2025 年度财务报告和内部控制 审计项目质量复核人员为李玉龙。 二、 本次变更后人员的基本信息、诚信记录和独立性 （一）基本信息 项目质量复核人员李玉龙：拥有注册会计师执业资质。2010 年成为注册会计师， 2012 年开始从事上市公司审计，2012 年开始在大信执业，2024 年开始为公司提供审 计服务。近三年签署或复核过 4 家上市公司审计报告。 （二）诚信记录 李玉龙近三年不存在因执业行为受到刑事处罚，受到证监会及其派出机构、行业 主管部门等的行政处罚、监督管理措施，受到证券交易所、行业协会等自律组织的自 律监管措施、纪律处分的情况。 中航（成都）无人机系统股份有限公司 关于年审会计师事务所变更项目质量复核人员的公告 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 ...

Group 1 - The company reported that as of January 30, 2026, the number of shareholders is 33,272 [2]

Core Viewpoint - The company has announced that it will disclose its annual performance pre-profit announcement on January 31, 2026, and investors are advised to pay attention to the company's announcements [2] Group 1 - The company is engaged in the drone industry and has been responding to investor inquiries on its performance [2] - The announcement regarding the pre-profit disclosure is significant for investors looking for insights into the company's financial health [2] - The specific details of the annual performance will be made available in the company's official announcements [2]

证券代码：688297 证券简称：中无人机 公告编号：2026-011 中航（成都）无人机系统股份有限公司 关于股份回购进展公告 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法律责任。 具体内容详见公司于 2025 年 4 月 26 日在上海证券交易所（www.sse.com.cn） 披露的《中航（成都）无人机系统股份有限公司关于以集中竞价交易方式回购股 份的预案》（公告编号：2025-020），2025 年 6 月 27 日披露的《中航（成都）无 人机系统股份有限公司 2025 年第一次临时股东大会决议公告》（公告编号： 2025-028），及 2025 年 7 月 5 日披露的《中航（成都）无人机系统股份有限公司 关于以集中竞价交易方式回购股份的回购报告书》（公告编号：2025-029）。 二、 回购股份的进展情况 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》的相关 规定，现将回购股份的进展情况公告如下： 截至 2026 年 1 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购股份 1, ...

Core Viewpoint - The company Zhongwu Drone (688297.SH) has conducted a share buyback, acquiring a total of 1,125,070 shares, which represents 0.1667% of its total share capital [1] Summary by Categories Share Buyback Details - The share buyback was executed through the Shanghai Stock Exchange trading system via centralized bidding [1] - The highest price paid for the shares was 50 CNY per share, while the lowest price was 44.96 CNY per share [1] - The total amount spent on the buyback was 52.2859 million CNY, excluding transaction fees such as stamp duty and trading commissions [1]

Core Viewpoint - The military industry sector has seen a significant rise, with the military ETF Huabao (512810) increasing over 3%, and many constituent stocks experiencing substantial rebounds, indicating strong market interest and positive performance expectations for 2025 [1][2]. Group 1: Market Performance - The military ETF Huabao (512810) rose by 3.17%, reaching a price of 0.847 [1]. - Key stocks in the military sector, such as Hailanxin, surged over 16%, while Hangfa Control hit the daily limit [1]. - A total of 45 constituent stocks of the military ETF have disclosed their 2025 performance forecasts, with 30 stocks expected to see profit increases [2]. Group 2: Earnings Forecasts - Among the 45 stocks, 14 are projected to double their net profits, with Huafeng Technology showing the highest expected increase of over 2285% [2]. - Hailanxin anticipates a net profit of 40 million to 60 million yuan for 2025, representing a year-on-year growth of 387.47% to 631.20% [1][2]. - Other companies like Zhenlei Technology and Aerospace Science and Technology are also expected to see significant profit growth, exceeding six times their previous earnings [2]. Group 3: Detailed Earnings Projections - A detailed table lists various companies with their projected net profit ranges and year-on-year growth percentages, highlighting significant expected increases across the board [3]. - For instance, Laoshiyuan Technology forecasts a net profit of 33.8 million to 38.8 million yuan, with a growth rate between 2004.17% and 2285.85% [3]. - Aerospace Science and Technology expects a net profit of 6 million to 9 million yuan, with a growth rate of 388.74% to 633.11% [3].

Summary of Conference Call Records Company Overview - **Company**: 长江军工 (Changjiang Military Industry) - **Industry**: Unmanned Aerial Vehicles (UAV) Key Points Financial Performance - The company announced a profit forecast for 2025, expecting a net profit attributable to shareholders of 0.8 to 0.95 billion yuan, and a net profit excluding non-recurring items of 0.39 to 0.46 billion yuan [1] - In 2024, the company reported a net loss attributable to shareholders of -0.54 billion yuan and a net loss excluding non-recurring items of -0.63 billion yuan [1] - The forecasted net profit for 2025 represents a year-on-year growth of 262.04% compared to 2024 [1] Product Development and Market Strategy - The company is enhancing its existing platform technology capabilities and accelerating the development and verification of new UAV systems [1] - There is a focus on enriching the product system, improving system integration, and adapting to various scenarios to strengthen overall competitiveness [1] - The company is also accelerating market layout, responding to market demand, and deepening expansion in both domestic and international markets [1] Contract and Revenue Growth - The company reported a significant increase in product delivery volume compared to the previous year, which has strongly supported a substantial increase in annual revenue and improved operational efficiency, leading to a turnaround from loss to profit [2] - On January 9, 2026, the company announced a major contract worth over 1 billion yuan, which accounts for more than 50% of the company's revenue for the current accounting year [2] - The contract pertains to UAV systems, and the counterparty is not related to the company, indicating steady progress in domestic UAV deployment [2] Future Outlook - For 2026, the company plans to continue leveraging existing model platforms while new models like the Wing Loong-X and Wing Loong-6 are expected to break into overseas markets [2] - The Yunying series of UAVs is anticipated to open up revenue opportunities in the small to medium-sized UAV segment [2]

Core Viewpoint - The low-altitude economy sector is showing mixed results for 2025, with 22 companies expected to be profitable while another 22 are projected to incur losses, indicating a significant divergence in performance within the industry [3]. Performance Forecast Summary Profit Growth - 11 companies are expected to report profit increases, with notable projections including: - Xinzhi Group (002664.SZ) and Shangluo Electronics (300975.SZ) anticipating several-fold increases in net profit [4]. - Weihai Guangtai (002111.SZ), Tongyu Heavy Industry (300185.SZ), and Guangyang Co. (002708.SZ) expecting over 50% growth in net profit [4]. - Wan Feng Aowei (002085.SZ) and Zongshen Power (001696.SZ) also forecasted net profit growth [4]. Losses - 22 companies are projected to incur losses, with several notable cases: - Zhongtian Rocket (003009.SZ) and Andavil (300719.SZ) have shifted from profit to loss [7]. - Haige Communication (002465.SZ) is investing heavily in R&D, leading to increased costs and a projected loss [7]. - Companies like Aerospace Power (600343.SH) and Sihua Electronics (600990.SH) are also expected to continue reporting losses [8]. Industry Insights - The low-altitude economy's contribution to overall profits remains limited, with most revenue still coming from aircraft manufacturing and infrastructure construction [3]. - Companies like Wan Feng Aowei are leveraging their low-altitude business to drive profit growth, supported by strong orders in general aviation aircraft manufacturing and strategic acquisitions [5]. - The industry is witnessing a shift towards commercial applications of low-altitude technologies, with companies preparing for a significant commercialization phase in 2026 [9][10]. Strategic Developments - Companies are increasingly focusing on integrating low-altitude infrastructure and management platforms, as seen with Suzhou Keda's strategic investments in civil aviation infrastructure [11]. - The emphasis on R&D and market expansion in emerging fields like low-altitude economy is evident, with companies aiming to enhance their competitive edge through innovative solutions [7][11].