经济观察网2026年1月30日，航天发展（000547）发布2025年度业绩预告，预计2025年净利润亏损10亿 元至16.5亿元。扣除非经常性损益后的净利润亏损11.2亿元至17.7亿元。 ...

Core Viewpoint - The company, Aerospace Development (000547.SZ), anticipates a net loss attributable to shareholders of 1 billion to 1.65 billion yuan for 2025, an improvement from the previous year's loss of 1.673 billion yuan [2] Group 1: Financial Performance - The expected net loss for 2025 is projected to be between 1 billion and 1.65 billion yuan, compared to a loss of 1.673 billion yuan in the same period last year [2] - The company aims to optimize its business structure, reduce costs, and improve efficiency to ensure stable development [2] Group 2: Business Segments - The new generation communication and control equipment segment is expected to improve its operating performance through proactive market expansion and enhanced accounts receivable collection [2] - The blue army system and equipment segment continues to incur losses due to an incomplete market recovery and lower-than-expected new contracts [2] Group 3: Impact of Associated Enterprises - The company’s associated enterprises have reported significant losses, with the impact amount still under evaluation [2]

格隆汇1月30日｜航天发展公告，预计2025年度净利润亏损10亿元–16.5亿元，上年同期亏损16.73亿元。 2025年，公司进一步聚焦主责主业，采取有效措施推进业务结构优化、降本节支、提质增效等工作的落 实，持续推动公司平稳发展。其中，新一代通信与指控装备板块通过积极布局新型网信体系发展方向， 大力开拓市场、加强应收账款催收等措施，经营业绩较上年改善；蓝军体系及装备板块受市场环境尚未 完全恢复、新签合同不及预期等因素影响，当期经营仍然亏损。参股企业出现较大亏损，影响金额尚在 评估中。 ...

1.业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2.预计的业绩：预计净利润为负值 | 项 目 | | 本报告期 | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：100,000 | 万元–165,000 | 万元 | 亏损：167,272.95 | 万元 | | 扣除非经常性损 益后的净利润 | 亏损：112,000 | 万元–177,000 | 万元 | 亏损：169,248.67 | 万元 | | 基本每股收益 | 亏损：0.63 | 元/股–1.03 元/股 | | 亏损：1.05 | 元/股 | 二、与会计师事务所沟通情况 本次业绩预告相关数据是公司初步测算的结果。公司与年审会计师事务所就 业绩预告部分事项进行了沟通，双方不存在重大分歧，具体数据以审计结果为准。 三、业绩变动原因说明 2025 年，公司进一步聚焦主责主业，采取有效措施推进业务结构优化、降 本节支、提质增效等工作的落实，持续推动公司平稳发展。其中，新一代通信与 指控装备板块通过积极布局新型网信体系发展方向， ...

Core Viewpoint - The military electronics sector experienced a decline of 0.96% on January 30, with *ST WanFang leading the drop. The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1]. Group 1: Stock Performance - High Ling Information (688175) saw a closing price of 32.89, with an increase of 6.41% and a trading volume of 31,600 shares, amounting to 101 million yuan [1]. - Taihao Technology (600590) closed at 11.15, up 5.99%, with a trading volume of 832,200 shares, totaling 914 million yuan [1]. - *ST Lingchang (001270) closed at 157.29, increasing by 5.00%, with a trading volume of 149,000 shares, amounting to 22.26 million yuan [1]. - Aerospace Development (000547) closed at 28.48, up 4.78%, with a trading volume of 3.435 million shares, totaling 9.867 billion yuan [1]. - *ST Tianwei (688511) closed at 28.45, increasing by 3.57%, with a trading volume of 12,400 shares, amounting to 3.46779 million yuan [1]. Group 2: Capital Flow - The military electronics sector saw a net outflow of 1.64 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.779 billion yuan [2]. - Aerospace Development (000547) had a net inflow of 784 million yuan from institutional investors, representing 7.94% of the total [3]. - Taihao Technology (600590) experienced a net inflow of 111 million yuan from institutional investors, accounting for 12.17% [3]. - RuiChuang WeiNa (688002) had a net inflow of 86.628 million yuan from institutional investors, representing 6.80% [3].

Group 1 - The China Aerospace Science and Technology Corporation plans to enhance commercial launch capabilities and develop competitive commercial rockets for regular transportation, aiming for reusable rockets to achieve scalable and mature commercial applications [2] - Shanghai is focused on becoming a national hub for the commercial aerospace industry, targeting an industry scale of approximately 100 billion yuan by 2027, with a planned area of about 9.3 square kilometers for the "Rocket Star City" [2] - The East Wu Securities report highlights that SpaceX is set to enter a quiet period ahead of its IPO, aiming to raise over $30 billion, with part of the funds allocated for developing space-based data centers [2] Group 2 - The Aerospace ETF (159227) closely tracks the China Aerospace Index, covering key industry chain segments such as aerospace equipment, satellite navigation, and new materials, with a high weight of 70% in commercial aerospace concepts [3] - The top ten holdings in the Aerospace ETF include industry leaders such as Aerospace Development, China Satellite, and Aerospace Electronics [3] Group 3 - As of January 30, 2026, the China Aerospace Industry Index (CN5082) showed mixed performance among its constituent stocks, with Beimo High-Tech leading at an increase of 8.87% [1] - The Aerospace ETF recorded a turnover rate of 7.49% and a trading volume of 244 million yuan, with an average daily trading volume of 732 million yuan over the past month [1] - The Aerospace ETF experienced a significant increase in shares, growing by 170 million shares in the past week, with a net inflow of 131 million yuan recently [1]

Group 1: Aerospace Industry Developments - China Aerospace Science and Technology Corporation plans to promote the development of new fields such as space tourism, space digital infrastructure, space resource development, and space traffic management during the "14th Five-Year Plan" period [1] - The company aims to accelerate the iteration of suborbital and orbital space tourism vehicles, complete relevant unmanned or manned flight verification, and establish a comprehensive space tourism operation system [1] - Domestic commercial aerospace companies like Xinghe Power, Blue Arrow Aerospace, and CAS Space have expressed plans related to space tourism, indicating a strong expectation for the sector's growth [1] Group 2: Commercial Aerospace Policy and Standards - The "Chain Gathering Industry Synergy, Building a Strong Aerospace Nation" conference in Shanghai released several key documents, including the "14th Five-Year Plan" vision report for China's commercial aerospace industry and a major supply-demand information report [2][3] - The National Space Administration's Deputy Director emphasized the need for innovation-driven, collaborative, and safe development to enhance the core competitiveness of the industry chain and optimize the policy environment for commercial aerospace [3] Group 3: Gold Market Insights - The World Gold Council's report indicates that China's gold jewelry consumption may see a quarter-on-quarter rebound in Q1 2026, supported by seasonal purchasing during the Spring Festival [4] - The report also forecasts that global gold demand reached a record high of 5002 tons in 2025, driven by significant geopolitical and economic uncertainties, with total demand valued at $555 billion [6] - The report highlights that North America shows strong demand for gold ETFs, while Asia's demand is just beginning to grow, indicating potential for future increases in holdings [9]

本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 2026 年 1 月 27 日，航天工业发展股份有限公司（以下简称"公司"或"本 公司"）收到公司股东中国航天系统工程有限公司（以下简称"系统公司"）出 具的《关于股份减持股东权益变动触及 1%整数倍的告知函》，获悉系统公司于 2026 年 1 月 21 日至 1 月 27 日通过集中竞价方式累计减持其持有的公司股份 6,353,300 股，占公司总股本的 0.40%，该部分股份系系统公司于 2024 年通过集 中竞价交易方式增持获得。本次股份减持后，系统公司持有公司股份 195,407,888 股，占公司总股本的 12.22%。 本次股份减持前，公司股东系统公司及其一致行动人中国航天科工防御技术 研究院、航天科工资产管理有限公司及南京晨光高科创业投资有限公司合计持有 公司股份 340,909,865 股，持股比例为 21.33%，具体内容详见公司于 2026 年 1 月 15 日在巨潮资讯网刊登的《公司关于持股 5%以上股东及一致行动人减持股份 触及 1%整数倍的公告》。本次股份减持后，系统公司及一致行动人中国航天科 工防御技术研究院、航天 ...

航天发展公告称，2026年1月21日至1月27日，股东中国航天系统工程有限公司通过集中竞价减持公司股 份635.33万股，占总股本0.40%。减持后，系统公司持有股份1.95亿股，占总股本12.22%。系统公司及 其一致行动人合计持股比例从21.33%降至20.93%，变动触及1%整数倍。本次权益变动不会导致公司控 股股东及实际控制人变化，也不影响公司治理结构及持续经营。 ...

Core Viewpoint - The military electronics sector experienced a rise of 1.39% on January 27, with Shenglu Communication leading the gains, while the overall market indices showed modest increases [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4139.9, up 0.18%, and the Shenzhen Component Index closed at 14329.91, up 0.09% [1]. - The military electronics sector stocks showed varied performance, with notable gainers including: - Gan Guo Communication: 12.46, up 9.97%, with a trading volume of 1.41 million and a turnover of 1.692 billion [1]. - Thunder Micro Power: 59.40, up 6.64%, with a trading volume of 252,000 and a turnover of 1.455 billion [1]. - Wan Yuan Electronics: 60.92, up 6.11%, with a trading volume of 146,200 and a turnover of 867 million [1]. Group 2: Capital Flow - The military electronics sector saw a net outflow of 489 million from institutional investors and 629 million from speculative funds, while retail investors contributed a net inflow of 1.118 billion [2]. - Specific stock capital flows included: - Shenglu Communication: 4.39 million net inflow from institutional investors, with a 25.96% share, but a net outflow of 1.93 million from speculative funds [3]. - Aerospace Development: 4.07 million net inflow from institutional investors, with a 7.39% share, and a net outflow of 1.25 million from speculative funds [3]. - Tai Meng Technology: 1.52 million net inflow from institutional investors, with an 11.67% share, and a net outflow of 28.38 million from speculative funds [3].