Core Viewpoint - The company has experienced significant stock price volatility, with a cumulative decline of over 20% in closing prices over three consecutive trading days, triggering an abnormal trading situation as per Shenzhen Stock Exchange regulations [2] Group 1: Company Performance - The company focuses on aerospace defense information technology, emphasizing its core business areas, including the development of blue army systems and new-generation communication and command equipment [2] - For the first three quarters of 2025, the company reported a revenue of 1.697 billion yuan, which represents a significant increase compared to the same period last year, primarily driven by ship deliveries [2] - The subsidiary, Aerospace Tianmu Satellite Technology Co., Ltd., which is engaged in commercial low-orbit satellite operations and data application services, contributed less than 1% to the company's total revenue for the first three quarters of 2025, indicating minimal impact on overall performance [2]

航天工业发展股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 证券代码：000547 证券简称：航天发展 公告编号：2026-003 航天工业发展股份有限公司（以下简称"公司"或"本公司"）股票（证券 简称：航天发展，证券代码：000547）连续三个交易日（2026年1月13日、1月14 日、1月15日）收盘价格跌幅偏离值累计超过20%。根据《深圳证券交易所交易规 则》的有关规定，属于股票交易异常波动的情形。 二、公司关注并核实的相关情况 针对公司股票交易异常波动情况，公司进行了核查，并就有关事项征询了公 司实际控制人中国航天科工集团有限公司及控股股东中国航天系统工程有限公 司，现将有关情况说明如下： 1.公司以航天防务信息科技为主要发展方向，聚焦主责主业，持续发展蓝军 体系及装备、新一代通信与指控装备等业务。2025年前三季度，公司实现营业收 入16.97亿元，较上年同期上升的重要原因是船舶交付。公司下属航天天目（重 庆）卫星科技有限公司主要从事商业低轨卫星运营及数据应用服务，其2025年前 ...

第1笔成交价格为30.04元，成交11.00万股，成交金额330.44万元，溢价率为0.00%，买方营业部为华泰 证券股份有限公司上海分公司，卖方营业部为机构专用。 1月15日，航天发展收跌7.48%，收盘价为30.04元，发生1笔大宗交易，合计成交量11万股，成交金额 330.44万元。 进一步统计，近3个月内该股累计发生1笔大宗交易，合计成交金额为330.44万元。该股近5个交易日累 计下跌18.44%，主力资金合计净流出34.08亿元。 责任编辑：小浪快报 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-01-15 | 000547 | 航天发展 | 30.04 | 11.00 | | 330.44 华泰证券股份有限 | 机构专用 | | | | | | | | 公司上海分公司 | | | 权益类证券大宗交易 (协议交易) | | --- | 1月15日，航天发展大宗交易成交11万股，成交额330.44万元，占当日总成交额的0.03%，成交价30.04元，较市场收盘价 30.04元持平。 ...

人民财讯1月15日电，截至发稿，航天发展（000547）跌停，成交额超93亿元。 ...

Core Viewpoint - Aerospace Development's stock price has experienced significant fluctuations, with a notable decline of 4.15% year-to-date and a sharp drop of 14.09% over the last five trading days, despite a substantial increase of 314.14% over the past 60 days [1] Group 1: Stock Performance - As of January 15, Aerospace Development's stock price was 31.64 CNY per share, with a market capitalization of 50.576 billion CNY [1] - The stock has seen a net inflow of 38.855 million CNY from major funds, with large orders accounting for 19.59% of total purchases [1] - The company has appeared on the trading leaderboard once this year, with a net buy of -540 million CNY on January 13 [1] Group 2: Company Overview - Aerospace Development, established on November 20, 1993, is located in Fuzhou, Fujian Province, and was listed on November 30, 1993 [2] - The company's main business areas include electronic blue army, command communication, electromagnetic security, and power generation equipment, with revenue contributions from various segments [2] - The company operates within the defense and military industry, specifically in military electronics, and is involved in several concept sectors including aerospace and low-altitude economy [2] Group 3: Financial Performance - For the period from January to September 2025, Aerospace Development reported a revenue of 1.697 billion CNY, reflecting a year-on-year growth of 42.59% [2] - The company recorded a net profit attributable to shareholders of -489 million CNY, which is a year-on-year increase of 12.38% [2] - Cumulatively, the company has distributed 560 million CNY in dividends since its A-share listing, with 56.128 million CNY distributed over the past three years [3]

Core Viewpoint - The article discusses the rapid rise and subsequent volatility of the commercial aerospace sector in the A-share market, highlighting significant stock price movements and the underlying factors driving these changes [4][9][11]. Group 1: Market Performance - From December 24, 2025, to January 12, 2026, the aerospace equipment sector achieved a 12-day consecutive rise, with a cumulative increase of 79% [9]. - On January 12, 2026, the A-share market recorded a historic trading volume of 3.64 trillion yuan, with many aerospace stocks hitting the daily limit [9][11]. - Following the peak, many companies in the sector issued risk warnings, leading to a sharp decline in stock prices, with over 60 stocks experiencing significant drops [11]. Group 2: Industry Dynamics - The commercial aerospace sector is experiencing a surge in demand, driven by China's recent application to the International Telecommunication Union (ITU) for an additional 203,000 satellites, marking one of the largest resource declarations in recent years [16][19]. - The cost of satellite launches is high, with estimates ranging from 50,000 to 100,000 yuan per kilogram, necessitating the development of reusable rockets to reduce costs significantly [21][22]. - The successful launch of the reusable rocket "Zhuque-3" by Blue Arrow Aerospace represents a significant milestone in the industry, despite its recovery failure [24][26]. Group 3: Future Prospects - The commercial aerospace industry is positioned as a critical infrastructure for future communication technologies, with low Earth orbit satellites expected to enhance connectivity in underserved areas [29][30]. - The competition in the global aerospace market is intensifying, with various countries, including the U.S., Europe, and India, investing heavily in their commercial space sectors [34][36][37]. - China's commercial aerospace strategy involves both state-owned and private enterprises, aiming to deploy thousands of satellites to create a comprehensive satellite internet network [38][41].

事件：近期，我国向ITU 申请了超20 万颗卫星的频轨资源。其中超19 万颗卫星来自近期刚刚成立的无 线电创新院。 无线电创新院将以服务卫星互联网产业、研究电磁空间技术、挖掘频谱资源价值潜力为愿景，聚焦频谱 开发利用与技术创新深度融合，着力搭建无线电领域集关键技术研发、成果孵化与产业赋能于一体的政 产学研用联合创新平台，推动无线电频谱资源高效利用与技术创新。 卫星频轨资源不可再生且高度稀缺，ITU"先到先得"规则下需与时间赛跑。 ITU 实行"先到先得"的优先使用权原则：各国通过指定机构向ITU 提交卫星网络申报材料，包括卫星项 目介绍、发射计划、资金计划、干扰规避措施等核心信息，先完成申报的国家获得对应频轨资源的优先 使用权。但这一优先使用权并非永久性占有，而是附加严格的"里程碑"实施要求。根据WRC-19 大会确 定的规则及ITU 相关规定，新提交的卫星申请需在7 年内发射首颗卫星启用资源，并在第9 年、第12 年 和第14 年分别完成总申报数量的10%、50%和100%部署，否则申报的频轨资源将自动失效。 我们认为，尽管ITU 遵循"先到先得"，但是受国际协调、频谱冲突、轨道容量限制，实际获批量或小于 ...

公司于近日收到资产公司出具的《关于股东减持部分股份结果的告知函》、系统公司出具的《关于减持 部分股份的告知函》，获悉资产公司于2025年12月10日通过集中竞价方式累计减持公司股份6,096,833 股，该部分股份系资产公司于2024年通过集中竞价交易方式增持获得。本次减持后，资产公司于2024年 通过集中竞价交易方式增持的7,440,333股股份已全部减持完毕。系统公司于2025年12月15日至12月19日 通过集中竞价方式累计减持公司股份8,380,000股，2026年1月13日通过集中竞价方式减持公司股份 12,260,933股，上述合计减持20,640,933股，以上减持部分股份全部系系统公司于2024年通过集中竞价交 易方式增持获得，详见公司于2024年8月1日披露的《关于第一大股东及关联方股份增持计划实施完毕暨 增持结果的公告》。自2025年12月10日起，系统公司和资产公司累计减持公司股份26,737,766股，占公 司总股本的1.67%。 格隆汇1月14日丨航天发展(000547.SZ)公布，公司2025年12月10日披露了《航天工业发展股份有限公司 关于持股5%以上股东的一致行动人减持股份触 ...

航天发展公告称，2025年12月10日至2026年1月13日，股东系统公司和资产公司累计减持2673.78万股， 占公司总股本的1.67%。其中，资产公司于2025年12月10日减持609.68万股，系统公司于2025年12月15 日至2026年1月13日减持2064.09万股。本次减持后，系统公司及一致行动人合计持股比例降至21.33%， 不会导致公司控股股东及实际控制人发生变化。 ...