航天动力公告称，公司股票于2025年11月20 - 24日连续三个交易日内收盘价格涨幅偏离值累计达20%， 25日继续涨停，股价涨幅明显高于行业平均水平，近期换手率和成交量明显放大。2025年前三季度，公 司实现营收50,950.84万元，同比降14.19%；净利润-10,925.25万元，亏损加深。公司主要业务为泵及泵 系统等研发销售，应用于民用领域，目前不存在应披露而未披露事项，提醒投资者注意风险。 ...

Core Viewpoint - Aerospace Power (600343.SH) focuses on the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems, primarily serving the civil sector in industries such as energy, chemicals, water conservancy, and transportation [1] Company Overview - The company is engaged in the development and production of pump systems and hydraulic transmission systems [1] - Its business activities are primarily related to the energy, chemical, water conservancy, and transportation sectors [1] - The company has confirmed that there are no undisclosed matters that need to be reported by the company, its controlling shareholders, or actual controllers as of the date of the announcement [1]

公司主要从事泵及泵系统、液力传动系统等的研发、生产、销售，业务主要涉及能源、化工、水利、交 通等行业，主要应用于民用领域。 智通财经APP讯，航天动力(600343.SH)发布风险提示性公告称，公司股票于2025年11月20日、21日、24 日连续三个交易日内收盘价格涨幅偏离值累计达到20%，2025年11月25日，公司股票收盘价格继续涨 停。公司股价涨幅明显高于行业平均水平，公司提醒广大投资者理性投资，注意投资风险。 ...

陕西航天动力高科技股份有限公司 关于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、准确性和完整性承担法律责任。 证券简称：航天动力 证券代码：600343 编号：临 2025-054 重要内容提示： ●陕西航天动力高科技股份有限公司（以下简称公司或航天动力）股票于 2025 年 11 月 20 日、21 日、24 日连续三个交易日内收盘价格涨幅偏离值累计达 到 20%，2025 年 11 月 25 日，公司股票收盘价格继续涨停。公司股价涨幅明显高 于行业平均水平，公司提醒广大投资者理性投资，注意投资风险。 ●公司 2025 年前三季度实现营业收入 50,950.84 万元，比上年同期减少 14.19%，归属于上市公司股东的净利润-10,925.25 万元，比上年同期亏损加深， 基本每股收益-0.17 元/股。敬请广大投资者注意经营风险。 ●公司目前主要业务是泵及泵系统、液力传动系统等的研发、生产、销售， 业务主要涉及能源、化工、水利、交通等行业，主要应用于民用领域。 ●截至本公告日，公司、控股股东、实际控制人不存在应披露而未披露的 ...

Group 1 - The core viewpoint of the article highlights the significant stock performance of Aerospace Power, which has seen a limit-up increase, achieving a price of 21.78 yuan per share after three consecutive days of gains [1] - Aerospace Power is a large publicly listed high-tech enterprise under the China Aerospace Science and Technology Corporation, serving as a development platform for China's liquid propulsion technology industry [1] - The company announced that its subsidiary, Xi'an Yuanxin Aerospace Power Fluid Equipment Co., Ltd., has signed capital increase agreements with six investors for a capital increase project [1] Group 2 - On November 22, the Ministry of Industry and Information Technology officially launched commercial trials for satellite IoT services at the 2025 China 5G + Industrial Internet Conference [1] - The initiative aims to support qualified enterprises in conducting satellite IoT business in accordance with laws and regulations, with the goal of stimulating the vitality of the private economy and promoting the healthy development of commercial aerospace [1] - This move is expected to facilitate the deep integration of the real economy and the digital economy, contributing to the construction of a manufacturing powerhouse, aerospace powerhouse, cyber power, and digital China [1]

Core Viewpoint - The commercial aerospace sector in China is experiencing significant growth, with experts indicating that space tourism is becoming a reality, supported by favorable policies, performance improvements, and technological advancements [1] Industry Summary - The commercial aerospace concept has strengthened recently, with companies like Aerospace Power seeing a surge in stock prices, and others such as Aerospace Universe and Shanghai Port Bay also experiencing gains [1] - The fourth China Space Science Conference highlighted that China's commercial aerospace is entering a new phase of steady and rapid development [1] - Huatai Securities suggests that the commercial aerospace sector is at a turning point with three key factors: policy, performance, and technology, recommending investors to focus on sector-wide investment opportunities [1] Company Summary - The Chinese Academy of Sciences' National Space Science Center plans to implement several space exploration satellite projects during the 14th Five-Year Plan, including the "Hongmeng Plan" and "Kuafu No. 2," aiming for breakthroughs in various fields such as dark universe research and exoplanet detection [1] - The next five years will focus on the exoplanet survey mission to search for "Earth 2.0" [1]

Core Insights - Aerospace Power has experienced a significant stock performance, achieving three limit-up days within four trading days, resulting in a cumulative increase of 33.78% and a turnover rate of 28.21% [2] - The latest total market capitalization of the stock is 13.9 billion yuan [2] Trading Performance - On November 24, 2025, the stock recorded a daily increase of 10.00% with a turnover rate of 3.25% and a net inflow of 163.39 million yuan from main funds [2] - The stock's trading performance over the past few days shows fluctuations, with notable increases on November 20 (10.01%) and November 24 (10.00%), while experiencing declines on November 19 (-1.21%) and November 18 (-2.77%) [2] Financial Performance - For the first three quarters, the company reported a total revenue of 510 million yuan, a year-on-year decrease of 14.19%, and a net loss of 109 million yuan, a year-on-year decline of 31.21% [2] - The basic earnings per share for the company is reported at -0.1712 yuan [2] Margin Trading Data - As of November 24, 2025, the margin trading balance for the stock is 455 million yuan, with a financing balance of 454 million yuan, reflecting an increase of 20.26 million yuan (4.67%) from the previous trading day [2] - Over the past four days, the margin trading balance has decreased by 56.19 million yuan, representing an 11.01% decline [2] Institutional Activity - The stock has appeared on the Dragon and Tiger list due to a cumulative deviation in the stock price of 20% over three consecutive trading days and a daily deviation of 7% [2] - The cumulative net purchase from the Shanghai Stock Connect is reported at 42.86 million yuan, while the total net purchase from brokerage seats is 69.17 million yuan [2]

Group 1 - The People's Bank of China announced a 1 trillion yuan MLF operation to maintain liquidity in the banking system, set to take place on November 25, 2025 [2] - The National Energy Administration reported that as of October, the total installed power generation capacity reached 3.75 billion kilowatts, a year-on-year increase of 17.3%, with solar power capacity growing by 43.8% [6] - The Shanghai Municipal Government issued measures to promote the digital transformation of the pharmaceutical industry, encouraging the integration of AI technology across the entire industry chain [4] Group 2 - Xiaomi Group's controlling shareholder Lei Jun invested approximately 100 million Hong Kong dollars to increase his stake in the company [6] - Alibaba's AI assistant Qianwen APP surpassed 10 million downloads within a week of its public testing [9] - Shanghai Port Bay's commercial space business and perovskite solar business accounted for less than 1% of the company's revenue [10] Group 3 - The stock of *ST Suwu has seen a continuous limit-up for four days, indicating potential market overheating and irrational speculation [12] - Longpan Technology signed a significant contract with a total sales amount exceeding 45 billion yuan [24] - The stock of Hualong Holdings is set to be suspended from trading due to the first major shareholder planning a change of control [25]

（文章来源：证券日报） 证券日报网讯 11月24日晚间，航天动力发布公告称，公司股票于2025年11月20日、21日、24日连续三 个交易日内收盘价格涨幅偏离值累计达到20%，属于《上海证券交易所交易规则》规定的股票交易异常 波动情形。经公司自查，并书面询证控股股东及向实际控制人核实，截至目前，不存在对公司应披露而 未披露的重大信息。风险提示：二级市场交易和估值受多方面因素影响，股票涨跌的波动风险较大，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。 ...

Core Viewpoint - The commercial aerospace sector is experiencing a significant surge, driven by multiple favorable developments and announcements that have catalyzed stock performance in the industry [1][2][3]. Group 1: Market Developments - On November 24, the commercial aerospace sector saw a dramatic increase, with 11 stocks hitting the daily limit or rising over 10%, including Zhaobiao Co., which reached a 20% limit up within 2 minutes of trading [1][2]. - The Ministry of Industry and Information Technology announced the official launch of commercial trials for China's satellite IoT business during the 5G + Industrial Internet Conference, aiming to enhance market supply and stimulate industry growth [2][4]. Group 2: Regulatory and Institutional Changes - The establishment of the Commercial Aerospace Division within the National Defense Science and Technology Administration indicates a formalized regulatory framework for the commercial aerospace sector, which is expected to facilitate rapid development [1][3]. - The upcoming launch of Shenzhou-22 and the first flight of the domestic reusable rocket ZQ-3 are anticipated to further boost the sector's momentum [1][3]. Group 3: Market Potential and Future Outlook - Euroconsult predicts that by 2030, the global satellite IoT connections will exceed 300 million, with the market potentially reaching a scale of $100 billion, driven by technological advancements and expanding application scenarios [4]. - The issuance of satellite internet licenses is seen as a critical step towards commercial operation, which is expected to propel the entire industry chain towards large-scale development [4]. Group 4: Key Projects and Innovations - The successful first flight of the Zhuque-3 rocket, designed for high-frequency, low-cost launches, is highly anticipated in the market, as it represents a significant technological advancement in reusable rocket capabilities [5].