Group 1 - The core viewpoint of the article is that Aerospace Rainbow (002389.SZ) is progressing as planned with the development of the Rainbow 7 project, which is expected to be completed by the fourth quarter of 2025 [1] Group 2 - The company encourages investors to pay attention to future announcements and official reports regarding the project [1]

Core Viewpoint - The general aviation sector is experiencing significant growth, driven by government support and strategic initiatives aimed at enhancing technological independence and promoting the low-altitude economy and commercial aerospace development [1][2]. Group 1: Market Performance - As of December 26, 2025, the China General Aviation Theme Index (931855) rose by 1.83%, with notable increases in constituent stocks such as Guanglian Aviation (300900) up 13.94% and Zhongfu Shenying (688295) up 13.03% [1]. - The General Aviation ETF (561660) also saw a rise of 1.91%, marking its third consecutive increase, with the latest price reported at 1.17 yuan [1]. Group 2: Government Initiatives - A successful satellite launch using the Long March 8A rocket from Hainan's commercial space launch site occurred, deploying 17 low-orbit satellite internet satellites into their designated orbits [1]. - The strategic emerging industry development fund, with a scale of 51 billion yuan, has officially launched, focusing on providing substantial financial support to the aerospace sector and related industries [1]. Group 3: Index Composition - The China General Aviation Theme Index tracks 50 listed companies involved in various aspects of general aviation, including manufacturing, infrastructure, and operations [2]. - The top ten weighted stocks in the index account for 40.68% of the total index, with key companies including Aerospace Electronics (600879) and Haige Communication (002465) [2].

本次取消股东会部分提案的程序符合法律法规、部门规章、规范 性文件和《公司章程》等相关规定。除取消上述提案外，公司《关于 召开2025年第四次临时股东会的通知》（公告编号：2025-058）中列 1 明的其他审议事项、会议时间、会议地点、股权登记日、登记方法等 其他事项未发生变更，现将补充后的召开2025年第四次临时股东会的 通知公告如下： 证券代码：002389 证券简称：航天彩虹 公告编号：2025-059 航天彩虹无人机股份有限公司 关于 2025 年第四次临时股东会取消部分提案 暨股东会补充通知的公告 本公司及董事会全体成员保证信息披露的内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 航天彩虹无人机股份有限公司（以下简称"公司"）定于2025 年12月31日召开2025年第四次临时股东会。具体内容详见公司2025 年12月16日刊登在《证券时报》和巨潮资讯网（www.cninfo.com.cn） 上的《关于召开2025年第四次临时股东会的通知》（公告编号： 2025-058）。 鉴于目前上述拟提交公司股东会审议的《关于全资子公司以包括 部分募投项目资产在内的非货币性资产出资与非关联方合资 ...

Group 1 - The core viewpoint of the news is that Aerospace Rainbow's stock has seen a significant increase of 5.4%, reaching a price of 24.19 yuan per share, with a trading volume of 873 million yuan and a turnover rate of 3.76%, resulting in a total market capitalization of 23.825 billion yuan [1] - Aerospace Rainbow is primarily engaged in the manufacturing and sales of drone products and application services, capacitor films, solar cell back materials, optical films, and lithium-ion battery separators [1] - The main revenue composition of Aerospace Rainbow includes 37.59% from drones and related products, 23.85% from back materials and insulation materials, 20.64% from optical films, 15.02% from technical services, and 2.91% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under the Fuguo Fund has a significant position in Aerospace Rainbow, specifically the Fuguo National General Aviation Industry ETF, which increased its holdings by 21,800 shares in the third quarter, totaling 115,900 shares, accounting for 3.81% of the fund's net value [2] - The Fuguo National General Aviation Industry ETF has a current scale of 703.918 million yuan and has achieved a return of 14.34% since its inception [2] - The fund manager, Yin Qinyi, has been in charge for 1 year and 156 days, with the total asset scale of the fund being 6.717 billion yuan, achieving a best return of 84.53% and a worst return of -12.34% during the tenure [2]

Group 1 - The core point of the news is that Aerospace Rainbow's stock price increased by 5.4% to 24.19 CNY per share, with a trading volume of 873 million CNY and a turnover rate of 3.76%, resulting in a total market capitalization of 23.825 billion CNY [1] - Aerospace Rainbow is engaged in the manufacturing and sales of drone products and application services, capacitor films, solar cell back materials, optical films, and lithium-ion battery separators, with the main revenue composition being 37.59% from drones and related products, 23.85% from back materials and insulation materials, 20.64% from optical films, 15.02% from technical services, and 2.91% from other sources [1] Group 2 - Huashan Fund has one fund heavily invested in Aerospace Rainbow, specifically the Huashan New Leverage Flexible Allocation Mixed A (001800), which increased its holdings by 70,000 shares to a total of 140,000 shares, representing 0.29% of the fund's net value, ranking as the eighth largest holding [2] - The fund has achieved a year-to-date return of 3.21%, ranking 7214 out of 8087 in its category, and a one-year return of 3.33%, ranking 7113 out of 8071 [2] Group 3 - The fund manager of Huashan New Leverage Flexible Allocation Mixed A is Zhang Rui, who has been in the position for 3 years and 225 days, with a total asset scale of 1.892 billion CNY and a best return of 14.85% during his tenure [3] - Co-manager Zheng Weishan has been in the role for 3 years and 216 days, managing assets totaling 28.683 billion CNY, with a best return of 32.32% during his tenure [3]

Core Viewpoint - The general aviation sector is experiencing significant growth, driven by the launch of a commercial aerospace industry alliance fund and the anticipated advancements in rocket recovery technology in China [1][2]. Group 1: Market Performance - As of December 25, 2025, the China General Aviation Theme Index (931855) rose by 1.94%, with key stocks such as Guanglian Aviation (300900) increasing by 19.99% and Plittech (688333) by 6.93% [1]. - The General Aviation ETF (561660) also saw a rise of 1.90%, with the latest price reported at 1.13 yuan [1]. - Over the past week, the General Aviation ETF fund experienced a significant growth of 193.17 million yuan [2]. Group 2: Fund and Investment Details - The newly launched commercial aerospace industry alliance fund has an initial issuance scale of 1 to 2 billion yuan, with a long-term goal of expanding to 10 billion yuan over a 10-year period [1]. - The fund will focus on four main areas: low-orbit satellite constellations and satellite internet, reusable launch vehicles and rocket launch services, new materials and devices for commercial aerospace, and the development and utilization of space resources [1]. - The top ten weighted stocks in the China General Aviation Theme Index account for 40.68% of the index, including companies like Aerospace Electronics (600879) and Haige Communication (002465) [2].

Core Insights - The Long March 12A reusable launch vehicle, developed by China Aerospace Science and Technology Corporation's Eighth Academy, is scheduled for its first launch in December 2025 at the Jiuquan Satellite Launch Center [1] - The commercial aerospace industry is entering a critical window for industrialization, driven by increased policy support and technological maturity [1] Market Sector Analysis - **Satellite Manufacturing and Launch Services**: The demand for satellite manufacturing and launch services is surging due to the acceleration of low-orbit satellite constellation deployment, transitioning the industry from an "investment incubation phase" to a "profit realization phase" [2] - **Aerospace Equipment and New Materials**: Breakthroughs in reusable rocket technology are driving upgrades in aerospace materials and structural design, leading to increased demand for rocket structural components and high-performance composite materials [2] - **Satellite Internet and Communication**: The three major telecom operators have received satellite licenses, marking a shift from experimental to large-scale commercial satellite communication, resulting in a surge in demand for ground equipment and satellite terminals [2] - **Space Computing and Data Processing**: Space computing is becoming a significant supplement to ground computing, with accelerated integration of AI and aerospace, creating new opportunities in satellite computing and data transmission [2] Company Overview - **Zhongke Xingtou (688568)**: A leading domestic enterprise in digital earth product development, with advantages in remote sensing data processing and space big data applications, expected to benefit from national aerospace infrastructure development [3] - **Aerospace Rainbow (002389)**: A core player in the drone sector, actively expanding into aerospace, with its Rainbow series drones gaining international acclaim and exploring synergies with satellite systems [3] - **Chengchang Technology (001270)**: Focused on the development and production of microwave and millimeter-wave phased array T/R chips, positioned to benefit from the surge in RF chip demand due to low-orbit satellite internet construction [3] - **Sry New Materials (688102)**: A leader in high-end metal new materials, with products successfully applied in various commercial rocket models, expected to see market share growth in aerospace specialty materials [3] - **Chaojie Co., Ltd. (301005)**: A leading company in precision fasteners, expanding into aerospace with products entering the commercial aerospace supply chain, potentially providing new growth points due to high-margin aerospace business [4]

Core Viewpoint - The successful maiden flight of the Rainbow-7 drone marks a strategic breakthrough for China's high-end drone capabilities, potentially enhancing the market position of Aerospace Rainbow (002389.SZ) in the global military drone market [4][10][11]. Company Overview - Aerospace Rainbow, originally Zhejiang Nanyang Electronic Film Co., was listed in 2010 and restructured in 2017 to focus on drone and guided weapon systems, with the China Aerospace Science and Technology Corporation as the new controlling shareholder [12]. - The company operates primarily in two sectors: drones and new materials, with drones being the core business encompassing research, design, production, and sales [12][13]. Product Development - The Rainbow-7 drone features advanced design elements such as a flying wing layout, stealth capabilities, and multi-tasking abilities, including reconnaissance and strike functions [9][10]. - The drone can fly for up to 16 hours, has a maximum range of 8,000 kilometers, and can carry up to 2 tons of weapons, making it a strategic asset in military operations [9][10]. Market Position - Aerospace Rainbow has maintained a leading position in the global drone export market, with the Rainbow series drones consistently ranking among the top three in global export volumes for the past decade [13][24]. - The company holds a 70% share of China's military drone export market, with significant sales to over ten countries and regions [13][24]. Financial Performance - The company has faced declining revenues and profits from 2022 to 2024, with a reported revenue of 2.567 billion yuan in 2024, down 10.45% year-on-year, and a net profit of 88 million yuan, down 42.54% [18][20]. - Despite recent challenges, there are signs of recovery, with a significant revenue increase of 162.48% year-on-year in Q3 2025, indicating a potential turning point [21][22]. Industry Outlook - The global military drone market is projected to grow significantly, reaching $34.3 billion by 2025, driven by increasing demand for advanced drone capabilities [23]. - The Asia-Pacific region is expected to lead this growth, with China's defense modernization efforts contributing to a surge in drone procurement [23][24]. - Aerospace Rainbow is well-positioned to capitalize on this growth, especially with the anticipated demand for high-end drones in the international market [24][25].

Group 1 - The core viewpoint of the news is that Aerospace Rainbow has shown significant stock performance with a year-to-date increase of 33.52% and a recent uptick in trading activity, indicating potential investor interest and market confidence [1] - As of December 18, Aerospace Rainbow's stock price reached 24.02 CNY per share, with a market capitalization of 23.658 billion CNY and a trading volume of 343 million CNY [1] - The company has experienced a net inflow of main funds amounting to 6.4939 million CNY, with large orders contributing significantly to the buying activity [1] Group 2 - Aerospace Rainbow, established on November 30, 2001, and listed on April 13, 2010, specializes in unmanned aerial vehicles (UAVs) and related products, as well as manufacturing capacitive films, solar cell back materials, optical films, and lithium-ion battery separators [2] - The revenue composition of Aerospace Rainbow includes 37.59% from UAVs and related products, 23.85% from back materials and insulation materials, 20.64% from optical films, 15.02% from technical services, and 2.91% from other sources [2] - As of November 28, the number of shareholders increased to 123,000, with an average of 8,004 circulating shares per person [2] Group 3 - Aerospace Rainbow has distributed a total of 466 million CNY in dividends since its A-share listing, with 178 million CNY distributed over the past three years [3] - As of September 30, 2025, the top ten circulating shareholders include notable entities such as the Guotai Zhongzheng Military Industry ETF and Hong Kong Central Clearing Limited, with some shareholders reducing their holdings [3]

（编辑 任世碧） 证券日报网讯 12月16日晚间，航天彩虹发布公告称，公司于2025年12月15日召开第七届董事会第五次 会议，审议通过了《关于续聘会计师事务所的议案》，拟续聘天健会计师事务所（特殊普通合伙）为公 司2025年度审计机构。本事项尚需提交公司股东会审议。 ...