在构建现代化经济体系、推动高质量发展的进程中，央企作为国民经济的中坚力量，正将ESG理念深度 融入企业战略与运营，从过去的"经济顶梁柱"逐步转型为更具韧性与担当的"责任压舱石"。 11月26日，2025年金牛企业可持续发展论坛在苏州举办。会上，以"ESG夯实央企核心竞争力"为主题的 圆桌论坛汇聚多位央企代表，共同探讨ESG如何从理念走向实践，从合规要求演变为价值驱动的核心要 素。与会嘉宾一致认为，ESG不仅是央企履行社会责任的体现，更是重塑企业竞争力、引领产业绿色转 型、实现可持续发展的战略抓手。在政策引导与市场驱动的双轮推动下，央企正以系统化、实质化的行 动，推动ESG从报告书走向生产线、从会议室融入供应链，逐步形成具有中国特色的ESG实践路径。 ● 本报记者 杨梓岩 王婧涵 锻造核心竞争力 随着ESG实践的深化，其如何转化为实实在在的企业价值，成为各方关注的焦点。在高发伟看来，ESG 已成为企业应对物理与转型风险、获取市场认可的关键。"公司通过对海上风电项目进行气候风险压力 测试，优化设计以抵御极端天气；在海外项目中主动采用高于当地标准的环保设计，规避社区风 险。"高发伟表示，这些举措不仅增强了资产的韧性 ...

Core Points - The company will hold an investor briefing on December 2, 2025, from 14:00 to 15:00 to discuss its Q3 2025 performance and financial status [2][3] - The briefing will be conducted online via the Shanghai Stock Exchange Roadshow Center, allowing for interactive communication with investors [3][5] - Investors can submit questions for the briefing from November 25 to December 1, 2025, through the Roadshow Center website or via the company's email [2][5] Meeting Details - The meeting will take place at the Shanghai Stock Exchange Roadshow Center [5] - Key personnel attending include the Chairman, Mr. Xiao Haichao, and the General Manager, Mr. Liu Dajun [5] - Contact information for inquiries includes Mr. Lei Mingjun, with a provided phone number and email address [6]

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].

Core Viewpoint - The stock of Aerospace Changfeng (600855) experienced a significant increase, reaching the daily limit, with a turnover rate of 10.04% and a total transaction amount of 767 million yuan, indicating strong market interest and trading activity [2]. Group 1: Stock Performance - The stock's daily price increase was 9.98%, leading to its listing on the exchange's watchlist due to the deviation in daily price change [2]. - The net inflow of funds for the stock was 228 million yuan, with large orders contributing 224 million yuan to this total [2]. - Over the past five days, the stock has seen a net inflow of 211 million yuan in principal funds [2]. Group 2: Trading Activity - The top five trading departments accounted for a total transaction amount of 190 million yuan, with a net buying amount of 79.32 million yuan [2]. - The largest buying department was the Shanghai-Hong Kong Stock Connect, with a net buying amount of 38.88 million yuan [2]. - The stock's trading activity included a significant buy from the Shanghai-Hong Kong Stock Connect, which was also the largest selling department, indicating a high level of trading interest [2]. Group 3: Financing and Margin Data - As of November 21, the stock's margin trading balance was 403 million yuan, with a recent increase of 26.47 million yuan, representing a growth of 7.03% [2]. - The stock's short selling balance increased by 33,400 yuan, reflecting a growth of 31.07% over the recent period [2]. - The total margin trading balance indicates a strong interest in leveraging positions in the stock [2]. Group 4: Financial Performance - For the first three quarters, the company reported a revenue of 646 million yuan, showing a year-on-year decline of 1.73% [3]. - The net profit for the same period was reported at -77.31 million yuan, indicating financial challenges [3].

Core Insights - The low-altitude economy sector experienced a 2.67% increase on November 24, with Zhaobiao Co. leading the gains [1] - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] Low-Altitude Economy Sector Performance - Zhaobiao Co. (301136) saw a closing price of 16.32, with a significant increase of 20.00% and a trading volume of 197,700 shares, amounting to a transaction value of 315 million [1] - Feiwo Technology (301232) closed at 58.15, up 11.46%, with a trading volume of 97,100 shares and a transaction value of 551 million [1] - Aerospace Changfeng (600855) closed at 16.68, up 10.03%, with a trading volume of 469,300 shares and a transaction value of 767 million [1] - Leike Defense (002413) closed at 6.37, up 10.02%, with a trading volume of 1,221,600 shares and a transaction value of 765 million [1] - Aerospace Development (000547) closed at 13.64, up 10.00%, with a trading volume of 5,338,600 shares and a transaction value of 6.81 billion [1] - Huajian Group (600629) closed at 21.67, up 10.00%, with a trading volume of 580,600 shares and a transaction value of 1.24 billion [1] - Tianhe Defense (300397) closed at 15.12, up 9.57%, with a trading volume of 956,800 shares and a transaction value of 1.40 billion [1] - Hangxin Technology (300424) closed at 17.10, up 9.27%, with a trading volume of 268,500 shares and a transaction value of 449 million [1] - Holley Technology (688682) closed at 33.86, up 8.94%, with a trading volume of 36,000 shares and a transaction value of 119 million [1] - Aerospace Nanhu (688552) closed at 35.17, up 8.55%, with a trading volume of 68,500 shares and a transaction value of 237 million [1] Capital Flow Analysis - The low-altitude economy sector saw a net inflow of 2.483 billion in main funds, while retail funds experienced a net outflow of 645 million [2][3] - The main funds' net inflow for Aerospace Development (000547) was 439 million, while retail funds saw a net outflow of 182 million [3] - Leike Defense (002413) had a main fund net inflow of 331 million, with a significant retail fund outflow of 184 million [3] - Huajian Group (600629) recorded a main fund net inflow of 291 million, while retail funds had a net outflow of 126 million [3] - Aerospace Changfeng (600855) experienced a main fund net inflow of 223 million, with retail funds seeing a net outflow of 105 million [3]

Core Points - The military information technology sector saw a significant increase of 4.63%, ranking third among concept sectors, with 102 stocks rising, including a 20% limit up for Jiuzhiyang [1][2] - Major gainers in the sector included TeFa Information, Aerospace Changfeng, and LeiKe Defense, all hitting the daily limit up, while the biggest losers were Chunzhi Technology, China Electric Xindong, and *ST Dongtong, with declines of 7.89%, 7.08%, and 6.98% respectively [1][2] Sector Performance - The military information technology sector had a net inflow of 828 million yuan from main funds, with 54 stocks receiving net inflows, and 6 stocks exceeding 100 million yuan in net inflows [2] - The top stock for net inflow was Aerospace Development, with 516 million yuan, followed by LeiKe Defense, Aerospace Changfeng, and TeFa Information, with net inflows of 341 million yuan, 228 million yuan, and 215 million yuan respectively [2] Stock Highlights - Leading stocks in terms of net inflow ratio included LeiKe Defense (44.60%), Aerospace Changfeng (29.76%), and Tianjian Technology (28.86%) [3] - Notable performers included Aerospace Development (10.00% increase), LeiKe Defense (10.02% increase), and Aerospace Changfeng (10.03% increase), all showing high turnover rates [3][4]

证券代码：600855 证券简称：航天长峰 公告编号：2025-056 北京航天长峰股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 25 日(星期二)至 12 月 1 日(星期 一)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 htcf_600855@163.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 北京航天长峰股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发布公司 2025 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划 于 2025 年 12 月 2 日 下午 14:00-15:00 举行 2025 年第三季度业绩说 明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第 会 ...

Core Insights - The establishment of the Commercial Space Administration has been officially announced, with the recruitment for the "Aerospace Regulation Position" indicating its formal inception [1] - The first flight of China's reusable rocket "Zhuque-3" is scheduled for mid-November, potentially marking the country's first operational reusable launch vehicle [1] Company and Industry Overview - As of November 24, there are over 90,000 existing commercial space-related enterprises in China, with nearly 60% established in the last three years [9] - In 2025 alone, 22,200 commercial space-related companies have been registered, surpassing the total registrations for the previous year and reflecting a 58.3% increase compared to the same period in 2024 [1][7] - The majority of new registrations are concentrated in the East China region, accounting for 23.8%, followed by North China at 19.4% and South China at 18.2%, while Northeast China has the least at 3.7% [7]

Core Viewpoint - The A-share market shows mixed performance with the Shanghai Composite Index at 3842.22 points, slightly below the five-day moving average, indicating a modest increase of 0.19% [1] Group 1: Market Overview - The total trading volume of A-shares reached 13759.48 billion yuan [1] - A total of 725 A-shares have surpassed the five-day moving average today [1] Group 2: Stocks with Significant Deviation - The stocks with the largest deviation from the five-day moving average include: - Jin Cheng Zi (金橙子) with a deviation rate of 13.07%, closing at 34.84 yuan after a 20.01% increase [1] - Zhao Biao Gu Fen (招标股份) with a deviation rate of 12.88%, closing at 16.32 yuan after a 20.00% increase [1] - Hang Tian Huan Yu (航天环宇) with a deviation rate of 11.54%, closing at 29.77 yuan after a 19.99% increase [1] Group 3: Other Notable Stocks - Other notable stocks with significant performance include: - Tie Tuo Ji Xie (铁拓机械) with a 13.21% increase and a deviation rate of 10.44% [1] - Zhuo Yi Xin Xi (卓易信息) with a 14.59% increase and a deviation rate of 10.37% [1] - He Xing Bao Zhang (合兴包装) with a 9.93% increase and a deviation rate of 8.00% [1]

Core Viewpoint - The commercial aerospace sector continues to strengthen, with several companies reaching new highs and significant increases in related ETFs [1] Group 1: Company Performance - Srey New Materials, Shanghai Port Bay, and Feiwo Technology hit intraday highs [1] - Aerospace Power, Leike Defense, Aerospace Huanyu, Zhongtian Rocket, Tianjian Technology, Aerospace Changfeng, Jiuzhiyang, and Tendering Co. all experienced a limit-up increase [1] - New Ray Energy, Aerospace Software, Chaojie Co., China Haifang, and Sichuan Chuang Electronic also saw gains [1] Group 2: ETF Performance - The Aviation ETF (159392) rose by 2.7%, with a trading volume of 2.7339 million yuan [1] - The Aerospace ETF (159227) increased by 3.83%, with a trading volume of 21.5 million yuan [1]