股价短期涨幅过大的风险。公司股票自 2025 年 12 月 3 日以来收盘价格累计上涨幅度为 105.02%，同期申万军 工行业涨幅 32.12%，上证 A 指涨幅 6.67%，公司股票短期涨 幅高于同期行业及上证指数涨幅，存在市场情绪过热及非理 性炒作的情形，公司股票击鼓传花效应十分明显，交易风险 极大，存在短期大幅下跌的风险。公司股价已严重脱离基本 面，存在股价短期大幅下跌的风险，投资者交易存在较大风 险，敬请广大投资者注意二级市场交易风险，理性决策，审 慎投资。 证券代码：601698 证券简称：中国卫通 公告编号：2026-008 经营相关风险。2024 年度公司营业收入同比减少 2.85%，扣除非经常性损益后的归属于上市公司股东的净利 润同比减少 13.49%。2025 年 1-9 月归属于上市公司股东的净 利润同比减少 40.58%，扣除非经常性损益后的归属于上市公 司股东的净利润同比减少 2.73%。公司特别提醒投资者注意 经营相关风险。 中国卫通集团股份有限公司 股票交易风险提示性公告 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 ...

Core Viewpoint - The aerospace equipment sector experienced a significant increase of 9.46% on January 23, with Aerospace Hanyu leading the gains. The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1]. Group 1: Stock Performance - Aerospace Hanyu (688523) closed at 72.99, with a rise of 13.27% and a trading volume of 215,000 shares [1]. - China Satellite (600118) closed at 108.90, increasing by 10.00% with a trading volume of 1,530,400 shares [1]. - Aerospace Electronics (600879) closed at 31.46, also up by 10.00%, with a trading volume of 6,771,200 shares [1]. - China Satcom (601698) closed at 42.48, rising by 9.63% with a trading volume of 2,227,400 shares [1]. - Zhongtian Rocket (003009) closed at 76.68, increasing by 6.00% with a trading volume of 139,400 shares [1]. - Other notable performances include: - Ligong Navigation (688282) at 78.79, up 5.04% [1] - StarNet Yuda (002829) at 30.48, up 4.21% [1] - Xinyu Guoke (300722) at 35.12, up 1.53% [1]. Group 2: Capital Flow - The aerospace equipment sector saw a net inflow of 3.833 billion yuan from institutional investors, while retail investors experienced a net outflow of 2.3 billion yuan [1]. - The capital flow for key stocks includes: - Aerospace Electronics (600879) with a net inflow of 1.886 billion yuan from institutional investors and a net outflow of 899.6 million yuan from retail investors [2]. - China Satellite (600118) had a net inflow of 1.483 billion yuan from institutional investors and a net outflow of 1.043 billion yuan from retail investors [2]. - China Satcom (601698) recorded a net inflow of 262 million yuan from institutional investors and a net outflow of 190 million yuan from retail investors [2]. - Zhongtian Rocket (003009) had a net inflow of 97.5 million yuan from institutional investors and a net outflow of 79.3 million yuan from retail investors [2].

Core Viewpoint - The satellite internet sector is experiencing significant gains, with multiple companies showing strong stock performance on January 23rd [1] Group 1: Company Performance - Fenghuo Communication and Tongyu Communication reached their daily limit up [1] - Xunwei Communication, Aerospace Electronics, Tianyin Machinery, Jiuzhiyang, Sanwei Communication, China Satellite Communications, Putian Technology, and China Satellite also saw notable stock increases [1]

| 权益变动方向 | 比例增加□ | | 比例减少√ | | --- | --- | --- | --- | | 权益变动前合计比例 | 78.00% | | | | 权益变动后合计比例 | 76.99% | | | | 本次变动是否违反已作出的承诺、意向、计划 | 是□ | 否√ | | | 是否触发强制要约收购义务 | 是□ | 否√ | | 一、 信息披露义务人及其一致行动人的基本信息 证券代码：601698 证券简称：中国卫通 公告编号：2026-007 中国卫通关于持股 5%以上股东权益变动 触及 1%刻度的提示性公告 控股股东及其一致行动人保证向本公司提供的信息真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息 一致。 重要内容提示： 益变动触及 1%的整数倍情形。具体变动情况如下： 故航天科技集团合计持有公司股份数量由 3,295,093,588 变为 3,252,464,815 股，合计持股比例由 78.00%减少至 76.99%，适用权 1.身份类别 | | √控股股东/实际控制人及其一致行动人 | | --- | --- ...

中国卫通公告称，2026年1月20 - 21日，因"中国航天科技集团有限公司2024年面向专业投资者非公开发 行科技创新可交换公司债券（第一期）"换股，控股股东航天科技集团直接持股由289183.11万股降至 284920.23万股，比例由68.46%降至67.45%。其一致行动人持股数量及比例不变。航天科技集团合计持 股比例由78.00%降至76.99%。此次权益变动系债券持有人换股致其持股被动减少，不涉及要约收购， 不会变更公司控股权。 ...

Core Viewpoint - The aerospace equipment sector experienced a significant increase of 5.87% on January 22, with Aerospace Hanyu leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Key stocks in the aerospace equipment sector showed notable price increases, with Aerospace Hanyu rising by 8.58% to a closing price of 64.44 [1] Group 2: Stock Performance Details - Aerospace Hanyu (688523) had a trading volume of 149,700 shares and a transaction value of 943 million [1] - China Satellite (600118) closed at 99.00, up 3.36%, with a trading volume of 1,030,100 shares and a transaction value of 101.40 million [1] - Aerospace Electronics (600879) saw a 6.20% increase, closing at 28.60, with a trading volume of 6,633,800 shares and a transaction value of 189.30 million [1] Group 3: Fund Flow Analysis - The aerospace equipment sector saw a net inflow of 431 million from institutional investors, while retail investors experienced a net outflow of 645 million [1] - China Satellite (601698) had a net inflow of 321 million from institutional investors, but a net outflow of 417 million from retail investors [2] - Aerospace Hanyu (688523) recorded a net inflow of 99.16 million from institutional investors, with retail investors showing a net outflow of 82.14 million [2]

Group 1 - The core viewpoint of the news highlights the positive developments in the commercial aerospace sector, with multiple companies making progress towards IPOs and significant advancements in rocket launch capabilities [1] - Five key enterprises focused on launch vehicles are now actively pursuing the title of "first commercial aerospace stock," indicating a competitive landscape in the industry [1] - The investment opportunities in commercial aerospace can be categorized into three main tracks: the first focuses on launch and manufacturing, the second on core components and systems, and the third on downstream applications and operational services [1] Group 2 - As of January 22, 2026, the China Satellite Industry Index (931594) has seen a strong increase of 3.92%, with notable gains in constituent stocks such as XW Communication (up 10.64%) and China Satcom (up 7.89%) [2] - The Satellite ETF Penghua (563790) closely tracks the China Satellite Industry Index, which includes 50 companies involved in satellite manufacturing, launching, communication, navigation, and remote sensing [2] - By December 31, 2025, the top ten weighted stocks in the China Satellite Industry Index accounted for 63.64% of the index, indicating a concentration of investment in key players like China Satellite and Aerospace Electronics [2]

Market Overview - On January 22, the A-share market opened high but closed lower, with the Shanghai Composite Index down 0.15%, Shenzhen Component down 0.17%, and ChiNext down 0.4% [2] - A total of 3,265 stocks rose, 60 stocks hit the daily limit, and 2,044 stocks fell, with a trading volume of 1.77 trillion yuan, an increase of 142.6 billion yuan compared to the previous trading day [3] Sector Performance - The oil and gas, aerospace military, superhard materials, coal, and photovoltaic sectors saw significant gains, while the precious metals and semiconductor equipment sectors experienced notable declines [3] - The superhard materials sector showed a strong upward trend, with stocks like Yujing Co. and Boyun New Materials hitting the daily limit [14] - The precious metals sector faced a downturn, with significant declines in stocks such as Western Gold and Xiaocheng Technology, which fell over 5% [18][20] Commercial Aerospace Sector - The commercial aerospace sector continued to recover, with stocks like Jili Rigging and Boyun New Materials seeing substantial gains [6] - Recent updates from companies like Xinghe Power and Blue Arrow Aerospace regarding their IPO progress have contributed to the positive sentiment in this sector [8] Oil and Gas Sector - The oil sector experienced a rapid increase, with major companies like PetroChina and Sinopec showing notable gains [10] - As of January 22, the Brent crude oil price was reported at $64.92 per barrel, up 5.85% from the beginning of the month [11] Superhard Materials Sector - The superhard materials sector is benefiting from advancements in artificial intelligence and related technologies, with expectations of significant growth in the industry [16] - The sector is projected to see a rise in demand, particularly for products related to artificial intelligence and robotics [14] Precious Metals Sector - The precious metals sector is undergoing a correction after previous gains, with gold prices fluctuating due to geopolitical factors and market sentiment [20] - The current price of gold has seen a decline, with spot gold trading around $4,787.966 per ounce, reflecting a nearly 1% drop [20]

Core Viewpoint - As of January 21, a total of 544 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more, indicating a significant trend of capital withdrawal from these stocks [1]. Group 1: Stocks with Longest Net Outflow - Qinan Co., Ltd. has the longest net outflow period, with main funds withdrawing for 21 consecutive days [1]. - Kain Technology follows with a net outflow for 18 consecutive days [1]. Group 2: Stocks with Largest Total Net Outflow - Shenghong Technology has the highest total net outflow amounting to 9.277 billion yuan over 11 days [1]. - Aerospace Development ranks second with a total net outflow of 6.928 billion yuan over 10 days [1]. Group 3: Stocks with Highest Net Outflow Proportion - *ST Yanshi has the highest proportion of net outflow relative to trading volume, with a 30% drop in the last 7 days [1]. - Other notable stocks with significant net outflow proportions include China Satellite and China Satcom, with respective proportions of 6.59% and 8.40% [1]. Group 4: Performance of Affected Stocks - Shenghong Technology has seen a cumulative decline of 14.99% during the net outflow period [1]. - Aerospace Development has experienced a cumulative drop of 29.48% [1]. - China Satellite and China Satcom have also faced declines of 17.90% and 26.81%, respectively [1].

证券之星消息，1月21日航天装备板块较上一交易日下跌1.48%，中国卫通领跌。当日上证指数报收于 4116.94，上涨0.08%。深证成指报收于14255.12，上涨0.7%。航天装备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600879 | 航天电子 | 26.93 | 2.36% | 559.37万 | 153.68亿 | | 002829 | 星网宇达 | 29.03 | 0.42% | 6.69万 | 1.94亿 | | 300722 | 新余国科 | 33.52 | 0.03% | 4.74万 | 1.59亿 | | 003009 | 中天火箭 | 69.71 | -1.29% | 5.93万 | 4.15亿 | | 688523 | 航大坏宇 | 59.35 | -1.58% | 8.56万 | 5.15亿 | | 600118 | 中国卫星 | 95.78 | -2.31% | 78.64万 | 77.46亿 | | 688282 | 理工导航 | 73 ...