Market Overview - The market experienced increased volatility on August 27, with the Shanghai Composite Index closing at 3800.35 points and the ChiNext Index retreating nearly 3% [1] - Trading volume surged to 3.2 trillion yuan, marking the second-highest volume in history [1] Defense and Military Industry - The defense and military sector saw a significant drop in the afternoon, with the high-profile Defense and Military ETF (512810) falling by 1.87% and experiencing a volatility of 2.67% [1] - Notably, the trading volume for the ETF surged to 194 million yuan, the highest in five months, with 12 consecutive trading days achieving over 100 million yuan in transactions [1] - The ETF covers 79 military stocks, with only 6 stocks rising, while major stocks like China Great Wall and Inner Mongolia First Machinery fell over 4% [3] Earnings and Performance - The defense and military sector's earnings have shown significant recovery, with 39 out of 50 ETF component stocks reporting profits in the first half of 2025, and half of them showing positive net profit growth [5] - Noteworthy is the 30% year-on-year growth in net profit for 11 stocks, with Aerospace Science and Technology leading with a staggering increase of over 21 times [5] Upcoming Events and Market Sentiment - Analysts suggest that the recent market adjustments are influenced by external risks, particularly long-term bond risks, and the recent significant gains in the A-share market [4] - The upcoming military parade is expected to catalyze interest in the defense sector, with expectations of new equipment being showcased [6] - Historical data indicates that the defense and military sector typically experiences excess returns before major military parades, with past events showing significant index gains [6]

New Stock Offerings - Shenke Co., Ltd. (002633) has an offer period from July 29, 2025, to August 27, 2025[1] - Fushun Special Steel (600399) has an offer period from August 12, 2025, to September 10, 2025[1] - ST Gaohong (000851) has an announcement on August 26, 2025[1] Market Volatility - Great Wall Military Industry (601606) reported severe abnormal fluctuations on August 14, 2025[1] - Dongxin Co., Ltd. (688110) had an announcement on August 16, 2025, regarding market conditions[1] - Changfei Optical Fiber (601869) has an announcement dated August 27, 2025, related to market performance[1] Company Announcements - ST Dehao (002005) has an announcement on August 27, 2025, regarding its market status[1] - China Satellite (600118) announced updates on August 27, 2025[1] - ST Yizhong (603389) has an announcement dated August 26, 2025, regarding its market activities[1]

Market Overview - The aerospace equipment sector experienced a decline of 3.31% on August 27, with Zhongtian Rocket leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - China Satellite (600118) closed at 36.45, down 0.49% with a trading volume of 1.4895 million shares and a turnover of 547.5 million yuan [1] - Aerospace Electronics (600879) closed at 11.41, down 2.65% with a trading volume of 1.5415 million shares and a turnover of 1.799 billion yuan [1] - Ligong Navigation (688282) closed at 47.57, down 3.21% with a trading volume of 5591.11 shares and a turnover of 27.0631 million yuan [1] - Aerospace Huayu (688523) closed at 24.73, down 4.22% with a trading volume of 83,000 shares and a turnover of 211 million yuan [1] - StarNet Yuda (002829) closed at 21.62, down 4.29% with a trading volume of 130,100 shares and a turnover of 289 million yuan [1] - China Satellite Communications (601698) closed at 22.00, down 4.35% with a trading volume of 1.2103 million shares and a turnover of 2.720 billion yuan [1] - Xinyu Guoke (300722) closed at 37.09, down 4.70% with a trading volume of 136,500 shares and a turnover of 515 million yuan [1] - Zhongtian Rocket (003009) closed at 59.08, down 6.03% with a trading volume of 98,700 shares and a turnover of 593 million yuan [1] Fund Flow Analysis - The aerospace equipment sector saw a net outflow of 1.284 billion yuan from institutional investors, while retail investors had a net inflow of 1.047 billion yuan [1] - The detailed fund flow for individual stocks shows significant net outflows for several companies, including: - Ligong Navigation: -146.74 thousand yuan from institutional investors [2] - StarNet Yuda: -1546.59 thousand yuan from institutional investors [2] - Aerospace Electronics: -8998.77 thousand yuan from institutional investors [2] - Zhongtian Rocket: -9027.29 thousand yuan from institutional investors [2] - Xinyu Guoke: -9814.42 thousand yuan from institutional investors [2]

Group 1 - The main stocks with significant capital outflows include Topway Information (-1.96 billion), Lingyi Technology (-1.79 billion), and Huasheng Tiancheng (-1.25 billion) [1] - Other notable stocks with capital outflows are Liou Co. (-0.65 billion), Zhinan Zhen (-0.65 billion), and Hengbao Co. (-0.63 billion) [1] - The total capital outflow from the top 20 stocks indicates a bearish sentiment in the market, particularly affecting sectors like software development, internet services, and battery manufacturing [1][2] Group 2 - Topway Information experienced a price increase of 2.21% despite a capital outflow of 1.96 billion [2] - Lingyi Technology had a price increase of 0.6% with a capital outflow of 1.79 billion [2] - Huasheng Tiancheng saw a price drop of 4.22% alongside a capital outflow of 1.25 billion [2][3]

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、准确性和完整性承担法律责任。 重要内容提示： 一、股票交易异常波动的具体情况 公司股票于 2025 年 8 月 22 日、8 月 25 日、8 月 26 日连续三个交易日内日 收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规 定，属于股票交易异常波动情形。 证券代码：600118 股票简称：中国卫星 编号：临2025-022 中国东方红卫星股份有限公司 股票交易异常波动公告 经自查，截至本公告披露日，公司未发现对公司股票交易价格可能产生较大 影响的媒体报道或市场传闻。除公司已披露信息外，不存在其他应披露而未披露 的重大信息。敬请广大投资者以公司公开披露的信息为准，审慎判断、理性决策。 （四）其他股价敏感信息 经核查，截止本公告披露日，公司控股股东及公司董事、监事、高级管理人 员在公司本次股票交易异常波动期间不存在买卖公司股票的情况。公司不存在其 他需核实并披露的事项。 三、相关风险提示 二、公司关注并核实的相关情况 （一）生产经营情况 经自查，公司目前生产经营活动一切正常，未发生重大 ...

证券代码：600118 股票简称：中国卫星 编号：临2025-022 中国东方红卫星股份有限公司 股票交易异常波动公告 二、公司关注并核实的相关情况 （一）生产经营情况 经自查，公司目前生产经营活动一切正常，未发生重大变化，市场环境、行 业政策未发生重大调整。 （二）重大事项情况 经公司向控股股东中国空间技术研究院函证，截止本公告披露日，公司控股 股东及实际控制人中国航天科技集团有限公司不存在涉及公司的应披露而未披 露的重大信息，不存在可能对公司股价形成重大影响的敏感事项，包括但不限于 1 中国东方红卫星股份有限公司（简称：中国卫星或公司）股票于 2025 年 8 月 22 日、8 月 25 日、8 月 26 日连续三个交易日内日收盘价格涨幅 偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动情形。 经公司向控股股东函证，截止本公告披露日，控股股东及实际控制人不 存在涉及公司的应披露而未披露的重大信息，不存在可能对公司股价形 成重大影响的敏感事项。 公司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。 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 ...

Core Viewpoint - The successful launch of the Long March 8 carrier rocket highlights the rapid advancements and efficiency of China's space industry, showcasing a high-density launch capability in its inaugural year [1][2]. Group 1: Launch Efficiency - The Long March 8 carrier rocket's first flight has initiated a high-density launch schedule, responding to urgent national satellite internet project needs [1]. - The parallel working model adopted for the Long March 8 rockets allows for simultaneous assembly and testing, significantly reducing launch preparation time by approximately one week compared to traditional methods [2][3]. Group 2: Infrastructure Development - The construction of a new vertical testing platform will enable parallel testing of two rockets, increasing the annual launch capacity from 10 to 20 missions, thereby meeting future high-density launch demands [3]. - The new vertical testing platform's construction cycle has been halved compared to the first platform, with completion expected by October, reflecting improved project management and efficiency [5]. Group 3: Operational Strategy - The operational strategy emphasizes thorough pre-launch planning to mitigate potential issues, ensuring that construction activities do not interfere with rocket safety and functionality [4]. - The construction team has implemented measures such as "two-shift" work schedules to enhance construction speed and efficiency, contributing to the overall acceleration of the launch preparation process [5].

中金公司认为，我国商业航天产业有望进入发展快车道，建议重视卫星制造、发射及下游应用的投 资机会。 （责任编辑：董萍萍 ） 航空航天ETF（159227）为全市场规模最大的航空类ETF，跟踪国证航天指数，专注于军工领域中 的空天力量，指数申万一级行业中军工行业占比达97.86%，相较于中证军工、中证国防指数，国证航 天的指数集中度更高，在航空装备、航天装备领域的占比更高，国证航天指数的航空航天装备权重占比 高达66.8%，远高于中证军工（40%）和中证国防指数（52%）。 8月26日，三大指数集体低开后涨跌分化，军工板块触底后震荡上行。截至9:55，全市场军工含量 最高的航空航天ETF（159227）跌幅0.32%，成交额达3593万元，稳居同类第一，持仓股方面，中国卫 星涨停，迈信林、长城军工、华力创通等领涨。 每日经济新闻 消息面上，8月26日3时8分，我国在海南商业航天发射场使用长征八号甲运载火箭，成功将卫星互 联网低轨10组卫星发射升空，卫星顺利进入预定轨道，发射任务获得圆满成功。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或 ...

天眼查商业履历信息显示，中国东方红卫星股份有限公司，成立于1997年，位于北京市，是一家以从事 计算机、通信和其他电子设备制造业为主的企业。企业注册资本118248.9135万人民币，实缴资本 118248.9135万人民币。公司法定代表人为李大明。 金融界消息 截至2025年8月26日收盘，中国卫星（600118）报收于36.63元，上涨10.0%，换手率 9.91%，成交量117.20万手，成交金额42.40亿元。 资金流向方面，今日主力资金净流入1.34亿元，占比成交额3.16%。其中，超大单净流入3.12亿元、占 成交额7.35%，大单净流出17765.44万元、占成交额4.19%，中单净流出流出8566.87万元、占成交额 2.02%，小单净流出4846.89万元、占成交额1.14%。 中国卫星最新一期业绩显示，截至2025中报，公司营业总收入13.21亿元、同比增长28.00%，归属净利 润3049.15万元，同比减少458.67%，扣非净利润3584.03万元，同比减少1650.52%，流动比率1.893、速 动比率1.366、资产负债率41.45%。 通过天眼查大数据分析，中国东方红卫星股份有 ...

Core Viewpoint - China successfully launched a batch of 10 low Earth orbit satellites for satellite internet using the Long March 8A rocket, marking a significant achievement in its commercial space endeavors [1][2]. Group 1: Launch Details - The Long March 8A rocket is a new generation medium-sized liquid launch vehicle designed for the deployment of large satellite constellations in medium and low Earth orbits [2]. - This launch represents the third mission of the Long March 8A rocket in 2023, demonstrating its capability for high-density, multi-task launches [2][5]. - The rocket has a payload capacity of 7 tons to sun-synchronous orbits, showcasing its enhanced capabilities compared to its predecessor [2]. Group 2: Technological Innovations - The Long March 8A rocket has implemented several technological innovations, including full-process automation, active drift control during launch, and supercooled liquid oxygen refueling [6][12]. - The transition from manual to automated operations has reduced risks and eased the operational burden on personnel, enhancing overall safety [8]. - The introduction of active drift control technology allows the rocket to fly away from the launch tower, minimizing collision risks during takeoff [10]. Group 3: Launch Infrastructure - The Long March 8A rocket will primarily operate from a dedicated launch pad at the Hainan commercial space launch site, facilitating high-density launches [13]. - The dedicated launch pad employs an improved "three-vertical" measurement and launch mode, capable of achieving a turnaround time of 7 days between launches [15]. - A practical operation confirmed that the post-launch recovery period can indeed be controlled within 7 days, with a damage rate of less than 5% [15].