Core Insights - The aerospace digital simulation industry is essential for optimizing aerospace mission plans and has become a necessary choice for countries to gain a competitive edge in space strategy [1][11] - The market size of China's aerospace digital simulation industry is projected to reach 38.5 billion yuan in 2024, an 11% increase year-on-year, and further grow to 42.3 billion yuan in 2025 [1][11] Industry Overview - Aerospace digital simulation is a specialized field within the aerospace industry that combines digital simulation with aerospace engineering, providing a simulated environment for various stages of aerospace missions [4] - The industry can be categorized into different types based on the mission object, including rocket launch simulation, satellite orbit operation solutions, and aircraft flight simulation solutions [5] Industry Barriers - **Technical Barriers**: The industry involves complex technologies across multiple disciplines, requiring deep knowledge and understanding of aerospace dynamics, control, and various technical fields [5] - **Talent Barriers**: There is a limited supply of high-end talent with the necessary expertise and experience in aerospace engineering, making talent reserve a key indicator of a company's core competitiveness [6] - **Qualification Barriers**: Companies must obtain various qualifications to engage in complex aerospace tasks, which creates a high barrier to entry due to the stringent requirements [6] - **Financial Barriers**: The industry requires significant upfront investment and has long return cycles, creating financial barriers for new entrants lacking sufficient funding [7] Industry Chain - The aerospace digital simulation industry has a supply chain that includes hardware (high-performance servers, precision sensors) and software support (algorithm libraries, operating systems) [8] - The downstream demand covers special, civilian, and commercial aerospace sectors, with commercial aerospace being a major application area [8] Competitive Landscape - The industry is becoming increasingly competitive with numerous enterprises emerging across various segments, including major players like China Aerospace Science and Technology Corporation and Beijing Huaru Technology Co., Ltd. [11][12] Development Trends - **Technological Optimization**: Continuous improvement in simulation technology is necessary to handle the complexities of large-scale satellite constellations and their intercommunication [14] - **Increased Demand in Special Fields**: The demand for aerospace digital simulation in special fields is expected to rise due to increased military spending and the modernization of military equipment [15] - **Policy Support**: The Chinese government is expected to introduce policies to promote the development of the aerospace digital simulation industry, creating a favorable environment for growth [16]

12月31日，北交所个股合计成交量7.63亿股，成交额207.39亿元，成交额相对上一交易日减少20.03亿 元，个股来看，收盘上涨的共114只。 证券时报·数据宝统计显示，今日可交易北交所个股中，收盘股价上涨的有114只，占可交易个股的 39.72%，收盘涨停的有天铭科技等，收盘涨幅居前的有蘅东光、立方控股、雷神科技，分别上涨 878.16%、24.94%、10.23%。收盘股价下跌的有168只，跌幅居前的有广道退、大鹏工业、丰光精密 等，分别下跌21.82%、12.57%、10.52%。 今日上市的蘅东光(蘅东光)上涨878.16%，全天换手率53.79%，成交额364755.54万元。 成交方面，全天成交额超亿元的股票共有48只，成交额居前的北交所股票有蘅东光、天力复合、星图测 控等，成交额分别为36.48亿元、5.57亿元、5.15亿元。 股票活跃度来看，今日可交易的北交所个股中，换手率超10%的有21只，其中，7股换手率超20%，换 手率在5%~10%之间的有40只，换手率在1%~5%之间的有181只。全天换手率居前的股票有广道退、蘅 东光、大鹏工业等，换手率分别为60.23%、53.79%、39. ...

Core Insights - The A-share market concluded the last trading day of 2025 with a mixed performance, where the Shanghai Composite Index rose by 0.09% to 3968.84 points, while the Shenzhen Component Index fell by 0.58% to 13525.02 points, and the ChiNext Index decreased by 1.23% to 3203.17 points [1] - In 2025, the A-share market experienced a "slow bull" trend, with the total market capitalization surpassing 100 trillion yuan, and the Shanghai Composite Index returning to the 4000-point mark for the first time in a decade [1] - Notably, the Hong Kong stock market regained its position as the global leader in fundraising [1] Stock Performance - Top-performing stocks in 2025 included: - Shangwei New Materials (688585.SH) with an increase of over 18 times, earning the title of the best-performing stock of the year - Tianpu Co., Ltd. (605255.SH) and Xingtou Measurement Control (920116.BJ) both saw increases exceeding 1600% [1][2] - The worst-performing stocks included: - Guangdao Tui (920680.BJ) with a cumulative decline of 94.18%, followed by Dongtong Tui (300379.SZ) with a drop of 91.78% [2][3]

| | 工 | | | | | 备 | | --- | --- | --- | --- | --- | --- | --- | | 920002 | 万达轴 | 1.23 | 6151.25 | 307.53 | 1.81 | 机械设 | | | 承 | | | | | 备 | | 920121 | 江天科 | -7.96 | 949.35 | 306.83 | 1.67 | 轻工制 | | | 技 | | | | | 造 | | 920599 | 同力股 | -1.28 | 15469.42 | 294.75 | 2.13 | 机械设 | | | 份 | | | | | 备 | | 920245 | 威博液 | 1.77 | 1190.88 | 292.87 | 1.07 | 机械设 | | | 压 | | | | | 备 | | 920017 | 星昊医 | -0.81 | 4283.34 | 242.93 | 1.90 | 医药生 | | | 药 | | | | | 物 | | 920706 | 铁拓机 | -2.82 | 2563.65 | 227.79 | 2.34 | 机械设 | | | 械 | ...

证券代码：920116 证券简称：星图测控 公告编号：2025-123 中科星图测控技术股份有限公司 关于变更签字注册会计师以及质量控制复核人的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 中科星图测控技术股份有限公司（以下简称"公司"）于 2025 年 3 月 3 日召 开了第一届董事会第二十三次会议，于 2025 年 3 月 24 日召开了 2024 年年度股 东会，审议通过了《关于续聘会计师事务所的议案》，同意续聘立信会计师事务 所（特殊普通合伙）（以下简称"立信"）为公司 2025 年度的审计机构。具体内 容详见公司于同日在北京证券交易所信息披露平台（www.bse.cn）披露的《拟续 聘 2025 年度会计师事务所公告》（公告编号：2025-027）。 2025 年 12 月 23 日，公司收到立信出具的《关于变更中科星图测控技术股 份有限公司 2025 年度财务报表审计与内控审计签字注册会计师以及质量控制复 核人的函》，现将有关情况公告如下： 一、本次变更签字注册会计师以及质量控制复 ...

Core Viewpoint - The article highlights the advancements and strategic positioning of Xingtum Control Technology Co., Ltd. in the aerospace control sector, emphasizing its technological innovations and market strategies to address the growing demands of space traffic management and satellite monitoring [2][10]. Group 1: Technological Innovations - Xingtum Control has developed the "Insight" software system and ground control equipment, enabling precise command delivery to satellites hundreds of kilometers away, ensuring smooth operations and continuous data transmission [2]. - The company has achieved significant breakthroughs in aerospace control technology, supported by over 40 invention patents and more than 290 software copyrights [2]. - The "Insight" space information analysis system was launched in 2018, integrating hundreds of algorithms for orbital prediction and collision warning, which was a major challenge for the company [3][4]. Group 2: Market Strategy - The company focuses on establishing a strong foundation in specialized fields while expanding into commercial sectors, aiming to respond quickly to the explosive demand in commercial aerospace [6]. - From 2020 to 2024, Xingtum Control's revenue is expected to grow at a compound annual growth rate of over 80%, with a long-term gross margin exceeding 50% [6]. - The company has adapted its strategy to target the commercial space sector, recognizing the upcoming demand for low-orbit satellite constellations [6][7]. Group 3: Future Developments - Xingtum Control plans to launch the "Star Eye" space perception constellation, consisting of 156 satellites, to create a global monitoring network for near-Earth orbits [9]. - The "Star Eye" system aims to provide real-time tracking, orbit determination, and collision risk analysis, addressing the increasing congestion and debris risks in space [9]. - The company envisions a future where space services are data-driven, offering customized data services to governments and operators, thus opening broader market opportunities [10].

根据调研日期截止日统计，近一个月（11月20日至12月19日），共有31家北交所公司获机构调研，其 中，纳科诺尔最受关注，参与调研的机构有91家。 证券时报·数据宝统计显示，近一个月共有31家北交所公司获机构调研，调研机构类型显示，券商共对 31家公司进行调研；基金调研16家；阳光私募调研14家；保险调研5家；海外机构调研5家。 机构调研榜单中，纳科诺尔参与调研的机构合计达91家，最受关注；其次是星图测控、荣亿精密、开特 股份，参与调研的机构分别有55家、40家、37家。 按申万行业分类，获机构调研的北交所公司分属于15个行业，机械设备、电力设备、基础化工等行业较 为集中，分别有5家、5家、4家公司上榜。 机构调研次数来看，荣亿精密、西磁科技、豪声电子等机构调研最为密集，均获机构2次调研。 市场表现方面，获机构调研的北交所公司近一个月平均上涨3.33%。其间股价上涨的有17只，涨幅居前 的有星辰科技、星图测控、铁拓机械等，分别上涨33.22%、27.42%、26.15%；从换手率来看，获调研 的北交所公司中，近一个月日均换手率平均值为5.39%，日均换手率居前的有铁拓机械、星图测控、天 润科技等，日均换手率分 ...

Group 1 - In the past month (from November 17 to December 16), 31 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Naconor being the most notable, receiving attention from 91 institutions [1][2] - The types of institutions conducting the research included 31 brokerages, 17 funds, 12 private equity firms, 5 insurance companies, and 4 overseas institutions [1] - The companies that received the most institutional attention, following Naconor, were Xingtum Control, Rongyi Precision, and Kaiter Co., with 55, 40, and 37 institutions participating in their investigations, respectively [1] Group 2 - The most frequently investigated companies included Rongyi Precision, Xic Magnetic Technology, and Haosheng Electronics, each receiving two rounds of institutional research [2] - On average, the companies that were investigated saw a decline of 3.91% in their stock prices over the month, with eight companies experiencing price increases, notably Xingtum Control (up 23.55%), Tianrun Technology (up 20.19%), and Kolon New Materials (up 6.73%) [2] - The average market capitalization of all companies on the BSE was 3.071 billion yuan, while the average market capitalization of the companies that were investigated was 3.746 billion yuan, with Xingtum Control, Development Technology, and Naconor leading in market value [2] Group 3 - A detailed list of companies investigated includes Naconor (91 institutions, -11.53% price change), Xingtum Control (55 institutions, +23.55%), Rongyi Precision (40 institutions, -19.47%), and Kaiter Co. (37 institutions, -8.50%) [2][3] - Other notable companies include Tai Kai Ying (32 institutions, -2.70%), Zhu Lao Liu (18 institutions, +2.16%), and Kolon New Materials (15 institutions, +6.73%) [2][3] - The data indicates a diverse representation across 16 industries, with mechanical equipment, electric power equipment, and basic chemicals being the most represented sectors [1]

成交方面，全天成交额超亿元的股票共有74只，成交额居前的北交所股票有天力复合、大鹏工业、星图 测控等，成交额分别为10.40亿元、6.94亿元、5.84亿元。 股票活跃度来看，今日可交易的北交所个股中，换手率超10%的有37只，其中，11股换手率超20%，换 手率在5%~10%之间的有57只，换手率在1%~5%之间的有181只。全天换手率居前的股票有大鹏工业、 精创电气、科强股份等，换手率分别为62.36%、50.49%、32.37%。（数据宝） 北交所个股今日成交明细 12月16日，北交所个股合计成交量10.54亿股，成交额241.06亿元，成交额相对上一交易日增加30.13亿 元，个股来看，收盘上涨的共219只。 | 代码 | 简称 | 收盘价 | 涨跌幅 | 换手率 | 成交额 | | --- | --- | --- | --- | --- | --- | | | | （元） | （%） | （%） | （万元） | | 920576 | 天力复合 | 81.88 | 18.49 | 13.10 | 104042.84 | | 920091 | 大鹏工业 | 93.43 | 25.83 | 62.36 ...

Trading Volume and Market Activity - On December 12, the total trading volume of individual stocks on the Beijing Stock Exchange reached 1.134 billion shares, with a total transaction value of 26.973 billion yuan, a decrease of 1.332 billion yuan compared to the previous trading day [1] - Among the tradable stocks, 143 stocks closed higher, accounting for 50% of the total, while 139 stocks closed lower [1] - The stocks with the highest closing gains included Chuangyuan Xinke, Changfu Co., and Caneng Electric Power, which rose by 14.80%, 11.38%, and 11.29% respectively [1] Stock Performance Highlights - The stocks with the highest transaction values included Jinbo Biological, Xingtou Measurement Control, and Tianli Composite, with transaction values of 1.045 billion yuan, 869 million yuan, and 862 million yuan respectively [1] - A total of 76 stocks had transaction values exceeding 10 million yuan, indicating significant trading activity [1] - The highest turnover rates were observed in stocks such as Dapeng Industrial, Jingchuang Electric, and Guangdao Tui, with turnover rates of 70.76%, 45.80%, and 41.72% respectively [1] Price Movements - The stock Guangdao Tui experienced the largest decline, dropping by 21.09%, followed by Longzhu Technology and Henghe Co., which fell by 6.56% and 6.53% respectively [1] - The closing prices of notable stocks included Jinbo Biological at 275.50 yuan, Tianli Composite at 60.84 yuan, and Chuangyuan Xinke at 31.80 yuan [1][2]