Summary of Key Points Core Viewpoint - On January 12, several companies disclosed their shareholding changes, with notable increases in shareholdings from 恒实科技 and 奥锐特, while 16 A-share listed companies announced share reductions [1][2]. Group 1: Shareholding Increases - 恒实科技's controlling shareholder, 新基集团, plans to increase its stake by 1.5% to 3% [2]. - 奥锐特 intends to adjust its share repurchase price ceiling to no more than 35 yuan per share [2]. Group 2: Shareholding Reductions - 立中集团's five executives plan to reduce their holdings by no more than 0.0642% [2]. - 钧达股份's second largest shareholder, 控股股东锦迪科技, intends to reduce its stake by no more than 3% [2]. - 南兴股份's controlling shareholder, 南兴投资, has reduced its holdings by a total of 366,900 shares as of January 12 [2]. - 中国核建's second largest shareholder reduced its holdings by 7,866,600 shares from January 7 to 9, bringing its stake down to 10% [2]. - 天银机电's largest shareholder, 澜海瑞兴, reduced its holdings by 1,245,300 shares on January 12 [2]. - 信维通信's actual controller and chairman, 彭浩, plans to reduce his stake by no more than 1% [2]. - 中电港's fourth largest shareholder recently reduced its holdings by 7,596,900 shares, bringing its stake below 5% [2]. - 佰维存储's second largest shareholder, 国家集成电路基金二期, plans to reduce its stake by no more than 2% [2]. - 青木科技's largest and third largest shareholders recently reduced their holdings by a total of 1,937,400 shares [2]. - 长芯博创's shareholders plan to reduce their holdings by no more than 2.55% [2]. - 趣睡科技's shareholders plan to reduce their holdings by no more than 2.6% [2]. - 卓越新能's controlling shareholder, 龙岩卓越投资, plans to reduce its stake by no more than 3% [2].

Group 1 - The A-share commercial aerospace sector experienced a significant surge on January 12, with over 40 stocks hitting the daily limit, including Xingtu Measurement and Control, Tianyin Electromechanical, and Guangha Communication, with a cumulative increase of 33.38% in the Wenhua Commercial Aerospace Theme Index since 2026 [1] - Multiple commercial aerospace ETFs also reached their daily limit, with one ETF under Yongying Fund surpassing 10 billion RMB in scale [3] - The satellite industry chain has shown strong performance since the end of 2025, with one investor reporting a cumulative return of approximately 31.60% from two ETFs focused on satellite communication and industry indices [5] Group 2 - Several listed companies issued urgent announcements on January 12 regarding their involvement in the commercial aerospace sector, with companies like Ligong Navigation and Zhongke Xingtou clarifying that their business in this area is still in the early stages or not directly related to commercial aerospace [7][8] - Companies such as Zhonghe Design and Guokai Military Industry reported minimal revenue contributions from commercial aerospace projects, with Zhonghe Design's related income accounting for only 0.39% of total revenue [9][11] - Other companies like Aihua Technology and North Navigation emphasized that they do not engage in commercial aerospace activities, warning of potential risks associated with their stock price surges [10][14]

Core Viewpoint - The company, Aerospace Engineering (603698.SH), specializes in gasification technology and key equipment development, focusing on clean and efficient coal utilization, primarily serving the chemical industry and not involved in commercial aerospace or related businesses [1] Group 1 - The company is engaged in research and development, engineering design, technical services, equipment supply, and general contracting related to gasification technology [1] - The company's products and technologies are mainly applied in the field of clean and efficient coal utilization [1] - The customer base is primarily concentrated in the chemical industry [1]

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： ● 航天长征化学工程股份有限公司（以下简称公司）股票自2025年12月1 日以来累计涨幅为156.63%，短期涨幅明显高于同期上证A股指数涨幅,存在短期 涨幅较大后期下跌风险，提醒广大投资者理性投资，注意投资风险。 ● 公司专业从事煤气化技术及关键设备的研发、工程设计、技术服务、设 备成套供应及工程总承包，公司产品及技术主要应用于煤炭洁净高效利用领域， 客户主要集中在化工企业，不涉及商业航天及航天相关业务。 ● 公司最新滚动市盈率为120.25，最新市净率为6.83，显著高于行业同期 平均水平，可能存在非理性炒作，敬请广大投资者注意交易风险，理性决策，审 慎投资。 证券代码：603698 证券简称：航天工程 公告编号：2026-001 航天长征化学工程股份有限公司 关于股票交易风险提示性公告 根据中证指数有限公司发布的2026年1月9日的行业市盈率数据，公司所属专 用设备制造业行业最新滚动市盈率为40.81，最新市净率为3.97。公司最新滚动 市盈率为120.25 ...

Core Viewpoint - The company, specializing in gasification technology and key equipment development, is issuing a stock trading risk warning due to planned share reductions by major shareholders [1] Group 1: Company Overview - The company focuses on research and development, engineering design, technical services, equipment supply, and general contracting in the clean and efficient utilization of coal [1] - Its products and technologies are primarily applied in the chemical industry, with no involvement in commercial aerospace or related businesses [1] Group 2: Shareholder Actions - Major shareholders, including Guochuang Fund Management Co., Ltd. and Guochuang (Beijing) New Energy Vehicle Investment Fund Management Co., Ltd., plan to reduce their holdings by up to 16,079,700 shares, representing 3% of the company's total share capital [1] - As of the announcement date, the reduction plan has not yet been fully implemented [1]

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) | | 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-12 | 航天工程 | 603698 | 39.6 | 673.2 | 17 | 公司上海花園若蒜 | 中信证券股份有限 公园北京三元桥证 | | | 2026-01-12 | 航天工程 | 603698 | 39.6 | 594 | 15 | 机构专用 | 中信证券股份有限 | | | 2026-01-12 | 航天工程 | 603698 | 39.6 | 209.88 | 5.3 | 公司上海昆昌云济 | 中信证券股份有限 公司北京三元桥证 | | 1月12日，航天工程大宗交易成交37.3万股，成交额1477.08万元，占当日总成交额的0.54%，成交价39.6元，较市场收盘价48.4元折价18.18%。 ...

Market Performance - The specialized equipment sector increased by 1.19% on January 12, with Tianqiao Crane leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] Top Gainers in Specialized Equipment Sector - Daqiao Qiche (002523) closed at 4.92, up 10.07% with a trading volume of 641,900 shares and a transaction value of 310 million [1] - Hetai Machinery (001225) closed at 80.95, up 10.00% with a trading volume of 13,600 shares and a transaction value of 106 million [1] - Zhanzhan Technology (603488) closed at 10.67, up 10.00% with a trading volume of 487,700 shares and a transaction value of 488 million [1] - Aerospace Engineering (603698) closed at 48.40, up 10.00% with a trading volume of 570,200 shares and a transaction value of 2.7 billion [1] - China First Heavy Industries (601106) closed at 5.95, up 9.98% with a trading volume of 3,820,800 shares and a transaction value of 2.238 billion [1] Top Losers in Specialized Equipment Sector - Kuaiji Elevator (002774) closed at 14.19, down 5.08% with a trading volume of 737,000 shares and a transaction value of 1.021 billion [2] - Nanmin Group (001360) closed at 22.25, down 4.83% with a trading volume of 122,800 shares and a transaction value of 278 million [2] - ST Hekang (002816) closed at 21.60, down 4.55% with a trading volume of 68,900 shares and a transaction value of 150 million [2] Capital Flow Analysis - The specialized equipment sector experienced a net outflow of 2.735 billion from institutional investors, while retail investors saw a net inflow of 2.673 billion [2] - The sector's main stocks showed varied capital flows, with Aerospace Engineering (603698) having a net inflow of 3.24 billion from institutional investors [3] - Tianqiao Crane (002523) had a net inflow of 1.07 billion from institutional investors, but a net outflow of 523 million from retail investors [3]

Core Viewpoint - The successful emergency launch of the Shenzhou spacecraft, following the discovery of a crack in the window, highlights the resilience and rapid response capabilities of China's manned space program [1][2][3]. Group 1: Incident Overview - A crack was discovered on the Shenzhou 20 spacecraft's window during final preparations for its return to Earth, prompting immediate action from the China Aerospace Science and Technology Corporation [2][3]. - The crack was identified as a through-crack, raising significant safety concerns for the astronauts [3][4]. Group 2: Emergency Response - An emergency response was initiated, involving a team of experts to assess the impact of the crack and conduct necessary tests to ensure astronaut safety [5][6]. - The decision was made to delay the return of the Shenzhou 20 crew, prioritizing safety over schedule [5][6]. Group 3: Mission Adjustments - The crew of Shenzhou 20 was reassigned to return on the Shenzhou 21 spacecraft, with the Shenzhou 22 mission scheduled for launch shortly after [7][9]. - The return method was modified from a five-orbit to a three-orbit rapid return, marking a significant technical achievement under pressure [7][9]. Group 4: Launch Preparations - The launch of Shenzhou 22 required extensive coordination among various teams, with a compressed timeline for preparation due to overlapping missions [10][11]. - The teams maintained high standards despite the urgency, ensuring that all safety protocols were followed [12][13]. Group 5: Successful Launch - On November 25, 2025, the Shenzhou 22 spacecraft was successfully launched, completing the emergency mission with a focus on safety and precision [12][13]. - The successful return of the Shenzhou 20 crew and the launch of Shenzhou 22 demonstrated the effectiveness of China's emergency response capabilities in space exploration [14][15].

Core Viewpoint - Aerospace Engineering (603698) experienced a trading halt today, with a turnover rate of 14.47% and a transaction volume of 3.098 billion yuan, indicating significant market activity and investor interest [2] Trading Activity - The stock reached its daily limit, with a trading amplitude of 16.75%. The Shanghai Stock Connect recorded a net purchase of 38.478 million yuan, while total net purchases from brokerage seats amounted to 114 million yuan [2] - The top five brokerage seats accounted for a total transaction volume of 607 million yuan, with a buying volume of 380 million yuan and a selling volume of 227 million yuan, resulting in a net purchase of 153 million yuan [2] - The leading buying and selling brokerage seat was the Shanghai Stock Connect, with a buying amount of 98.9298 million yuan and a selling amount of 60.4518 million yuan, leading to a net purchase of 38.478 million yuan [2] Historical Performance - Over the past six months, the stock has appeared on the trading leaderboard five times, with an average price drop of 2.25% the day after being listed and an average increase of 13.52% in the following five days [3] - The stock saw a net inflow of 648 million yuan in principal funds today, with a significant net inflow of 630 million yuan from large orders [3] Financial Data - As of January 5, the stock's margin trading balance was 536 million yuan, with a financing balance of 535 million yuan and a securities lending balance of 1.7626 million yuan. The financing balance increased by 103 million yuan over the past five days, representing a growth of 23.94% [3] - The company's Q3 report, released on October 30, 2025, indicated that it achieved a total revenue of 2.987 billion yuan in the first three quarters, reflecting a year-on-year growth of 79.16%, and a net profit of 134 million yuan, up 5.42% year-on-year [3]

Group 1 - The company is an important supplier in the aerospace engineering cable sector, providing various products including low-frequency installation cables, data buses, control cables, and some RF cables [2] - The company continuously supports the Long March series of rockets with its products [2]