证券代码：605598 证券简称：上海港湾 公告编号：2025-052 上海港湾基础建设（集团）股份有限公司 关于 2026 年度使用部分闲置自有资金进行委托理财 额度预计的公告 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： 基本情况 | 投资金额 | 委托理财单日最高余额不超过_40,000_万元（含 40,000 万元） | | --- | --- | | 投资种类 | 风险可控、安全性较高、流动性较好的理财产品，包括但不限于国债、 | | | 定期存款、结构性存款、银行理财产品、券商理财产品等。 | | 资金来源 | 自有资金 | 已履行的审议程序 本事项经上海港湾基础建设（集团）股份有限公司（以下简称"公司"）第 三届董事会第十六次临时会议审议通过，本次委托理财额度在公司董事会决策权 限范围内，无需提交股东会审议。 特别风险提示 公司及其控股子公司拟投资的理财产品属于安全性高、流动性好的投资品种， 但金融市场受宏观经济、政策调控等因素影响较大，不排除相关投资可能受到市 场波动的影响，从而影响预期收益。 ...

证券代码：605598 证券简称：上海港湾 公告编号：2025-050 二、董事会会议审议情况 （一）审议并通过《关于 2026 年度日常关联交易预计的议案》 经审议，董事会认为：公司与关联人之间的日常关联交易是基于公司日常经 营及办公运营的合理需求，是公司为提升经营效率、优化资源配置而作出的市场 化合规决策。此次日常关联交易系公司与关联人之间正常、合法的经济往来活动， 交易符合商业惯例。公司与关联人之间的交易均基于一般的商业条款签订相关协 议，遵循了公平、公正、公开的原则，以市场价格为依据，定价公允合理，不存 在损害公司股东尤其是中小股东利益的情形，不会对公司持续经营等产生不利影 响，不存在影响公司业务和经营独立性的情形。 本议案已经公司第三届董事会独立董事第三次专门会议、审计委员会第十二 次会议审议通过。 表决结果：同意 7 票、反对 0 票、弃权 0 票。关联董事徐士龙先生回避表决。 具体详见公司同日披露于上海证券交易所网站（www.sse.com.cn）及指定 媒体的《上海港湾关于 2026 年度日常关联交易预计的公告》（公告编号： 2025-051）。 上海港湾基础建设（集团）股份有限公司 第三届董 ...

Core Viewpoint - Shanghai Port Construction (Group) Co., Ltd. is leveraging its strong technical capabilities in the commercial aerospace sector, particularly through its subsidiary, Fuxi Xinkong, which focuses on providing innovative space energy systems solutions [2][3]. Group 1: Company Overview - Shanghai Port Construction was established on January 28, 2000, and listed on September 17, 2021, with its main business involving foundation treatment and pile foundation engineering [9]. - The company's revenue composition includes foundation treatment (64.93%), pile foundation engineering (19.49%), and other services (15.58%) [9]. - As of September 30, 2025, the company reported a revenue of 1.13 billion yuan, a year-on-year increase of 19.64%, while the net profit attributable to shareholders decreased by 27.25% to 79.20 million yuan [9]. Group 2: Business Developments - Fuxi Xinkong has successfully supported the launch of 15 satellites, with over 40 satellite power systems and solar sails currently operating in orbit, demonstrating the reliability and stability of its products [3]. - The company is actively involved in the "Belt and Road" initiative, providing green solutions for soil remediation and foundation treatment in various countries, significantly improving local ecological environments [4]. - The company has completed over 20 projects related to ultra-soft foundation treatment, extending its services to coastal provinces in China and Southeast Asian countries along the "Belt and Road" [4]. Group 3: Financial Performance and Market Position - The company reported an overseas revenue share of 83.01%, benefiting from the depreciation of the Chinese yuan [5]. - The stock has seen a recent increase in trading activity, with a turnover rate of 3.71% and a total market capitalization of 11.82 billion yuan [1]. - The average trading cost of the stock is 46.03 yuan, with current price levels between resistance at 52.62 yuan and support at 45.35 yuan, indicating potential for range trading [8].

从资金流向上来看，当日专业工程板块主力资金净流出2.39亿元，游资资金净流入4264.41万元，散户资 金净流入1.96亿元。专业工程板块个股资金流向见下表： 证券之星消息，12月16日专业工程板块较上一交易日下跌1.4%，上海港湾领跌。当日上证指数报收于 3824.81，下跌1.11%。深证成指报收于12914.67，下跌1.51%。专业工程板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | --- | --- | --- | --- | --- | --- | --- | | 601133 | 相诚股份 | 15.56 | 6.28% | | 47.52万 | 7.26亿 | | 603929 | 亚翔集成 | 92.50 | 6.24% | | 6.67万 | 6.00亿 | | 603163 | 圣晖集成 | 62.68 | 5.01% | | 5.19万 | 3.25亿 | | 300029 | *ST天龙 | 5.49 | 3.20% | 1 | 9.60万 | 5116.66万 | | 920057 | 百甲科技 | 6.56 | 1 ...

Summary of Shanghai Port Bay Conference Call Company and Industry Overview - **Company**: Shanghai Port Bay, focusing on commercial aerospace and space power systems through its subsidiary Shanghai Fuxi Starry Sky Technology Co., Ltd. [2][3] - **Industry**: Commercial aerospace, specifically in satellite power systems and solar energy technology. Key Points and Arguments - **Product Performance**: Shanghai Fuxi's core power systems have supported 19 successful satellite launches, with 49 satellite power systems and solar panels operating in orbit with zero faults. [2][3] - **New Orders**: In the first half of 2025, the company secured new orders worth 34.02 million yuan, participating in multiple national satellite constellation projects, covering nearly 21 leading commercial aerospace companies. [2][3] - **Patents and Technology**: The company holds 19 core patents related to commercial aerospace energy systems and focuses on space-grade perovskite power generation technology, which has been validated in harsh environmental tests. [2][5] - **Production Capacity**: In 2023, the company launched a space-grade solar cell production line and a flexible solar array assembly line, enabling short-cycle mass delivery to meet the rapid development needs of commercial aerospace. [2][5] - **Market Share**: The complete satellite power system accounts for approximately 15% of the total satellite value, with major clients including Changguang Satellite and Time Space Path. [2][7] - **Competitive Advantage**: The perovskite solar cells offer high cost-performance and stable power generation, with four related verification satellites currently operating in orbit. [2][9] - **Team and Incentives**: The core team holds a 20% stake, expected to reach 30%, with ongoing stock incentive plans to ensure long-term stability. [4][12] Additional Important Insights - **International Expansion**: The company is actively exploring overseas markets, particularly in Southeast Asia, the Middle East, and Europe, and is participating in international airshows to facilitate overseas orders. [4][14] - **Future Production Plans**: The production line is expected to support a revenue of 100 million yuan, with plans for rapid expansion to meet increasing order volumes. [15] - **Technological Development**: The company anticipates that perovskite technology will gradually enter the industrialization phase in the coming years, although challenges remain in scaling up production and addressing energy bottlenecks. [9][19] - **Market Trends**: The U.S. market is exploring new aerospace-grade solar materials, which may provide opportunities for the company to enter their supply chain if sufficient in-orbit verification data is accumulated. [13][14] - **Optimistic Outlook**: The company maintains a positive outlook for future development, expecting a return to normal profit levels in its main business by 2026, despite current domestic market challenges. [20][21]

Core Viewpoint - Shanghai Port Construction (Group) Co., Ltd. is focusing on innovative solutions in the commercial aerospace energy sector, leveraging its strong technical capabilities and partnerships to drive growth in satellite power systems and soil remediation projects along the Belt and Road Initiative [2][3][4]. Group 1: Company Overview - Shanghai Port Construction was established on January 28, 2000, and listed on September 17, 2021, with its main business involving geotechnical engineering, including foundation treatment and pile foundation engineering [9]. - The company's revenue composition includes 64.93% from foundation treatment, 19.49% from pile foundation engineering, and 15.58% from other services [9]. - As of September 30, 2025, the company reported a revenue of 1.13 billion yuan, a year-on-year increase of 19.64%, while the net profit attributable to shareholders decreased by 27.25% to 79.20 million yuan [9]. Group 2: Business Developments - The subsidiary, Shanghai Fuxi Xinkong Technology Co., Ltd., focuses on energy solutions for satellites and spacecraft, achieving significant results with its products supporting the launch of 15 satellites and maintaining over 40 satellite power systems in stable operation [2][3]. - The company has established a robust customer base, collaborating with over 20 satellite organizations, including industry leaders such as Changguang Satellite, Jun Tian Hang Yu, and Xinguang Communication [2][3]. - The company is actively involved in soil remediation projects in coastal areas and along the Belt and Road, utilizing its proprietary "high vacuum" technology to provide green solutions and improve local ecological environments [3][4]. Group 3: Financial Performance and Market Position - The company reported an overseas revenue share of 83.01%, benefiting from the depreciation of the RMB [5]. - The stock experienced a price increase of 5.51% on December 8, with a trading volume of 1.309 billion yuan and a turnover rate of 10.71%, bringing the total market capitalization to 12.173 billion yuan [1]. - The average trading cost of the stock is 42.72 yuan, with the current price approaching a resistance level of 51.64 yuan, indicating potential for upward movement if this level is surpassed [8].

Core Viewpoint - Shanghai Port Construction (Group) Co., Ltd. is actively expanding its business in satellite navigation, commercial aerospace, and soil remediation, benefiting from the Belt and Road Initiative and the depreciation of the RMB [2][3][5]. Group 1: Company Overview - Shanghai Port Construction was established on January 28, 2000, and listed on September 17, 2021, focusing on geotechnical engineering services such as foundation treatment and pile foundation engineering [9]. - The company's main business revenue composition includes foundation treatment (64.93%), pile foundation engineering (19.49%), and other services (15.58%) [9]. - As of September 30, 2025, the company reported a revenue of 1.13 billion yuan, a year-on-year increase of 19.64%, while the net profit attributable to shareholders decreased by 27.25% to 79.20 million yuan [9]. Group 2: Business Developments - The subsidiary, Shanghai Fuxi Xinkong Technology Co., Ltd., focuses on providing lightweight, low-cost, and high-performance space energy system solutions, having successfully supported the launch of 15 satellites and maintained over 40 satellite power systems in stable operation [2][3]. - The company has established a robust customer matrix, collaborating with over 20 satellite organizations, including industry leaders such as Changguang Satellite, Jun Tian Aerospace, and Xingsheng Power [2][3]. - The company has implemented its technologies in various coastal provinces in China and has expanded its services to Southeast Asian countries along the Belt and Road, completing over 20 projects related to soft soil foundation treatment [4]. Group 3: Financial Performance and Market Activity - The company achieved an overseas revenue share of 83.01%, benefiting from the depreciation of the RMB [5]. - On December 5, the stock price of Shanghai Port Construction reached its daily limit, with a trading volume of 623 million yuan and a turnover rate of 5.56%, resulting in a total market capitalization of 11.54 billion yuan [1]. - The main capital inflow for the day was 212 million yuan, with a slight increase in main capital positions over the past two days [6][7].

Core Viewpoint - Shanghai Port Construction (Group) Co., Ltd. is focusing on innovative solutions in the commercial aerospace energy sector, leveraging its strong technical capabilities and partnerships to drive growth in satellite power systems and soil remediation projects along the Belt and Road Initiative [2][3][4]. Company Overview - Shanghai Port Construction was established on January 28, 2000, and listed on September 17, 2021, with its main business involving foundation treatment and pile foundation engineering [9]. - The company's revenue composition includes foundation treatment (64.93%), pile foundation engineering (19.49%), and other services (15.58%) [9]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.13 billion yuan, representing a year-on-year growth of 19.64%, while the net profit attributable to shareholders decreased by 27.25% to 79.20 million yuan [9]. - The company has distributed a total of 102 million yuan in dividends since its A-share listing, with 95.92 million yuan distributed over the past three years [10]. Business Segments - The company’s subsidiary, Shanghai Fuxi Xinkong Technology Co., Ltd., specializes in providing lightweight, low-cost, and high-performance space energy systems, having successfully supported the launch of 15 satellites and maintained over 40 satellite power systems in stable operation [2][3]. - The company is actively involved in soil remediation and foundation treatment projects in coastal provinces and along the Belt and Road countries, completing over 20 projects that enhance local ecological environments and contribute to sustainable development [3][4]. Market Dynamics - The company benefits from the depreciation of the RMB, with overseas revenue accounting for 83.01% of total revenue [5]. - The stock has experienced a recent decline, with a drop of 9.03% on December 3, 2023, and a trading volume of 778 million yuan, indicating a high turnover rate of 7.34% [1].

Investment Rating - The report provides a positive investment outlook for the commercial aerospace industry, highlighting significant growth opportunities driven by technological advancements and market demand [2]. Core Insights - The commercial aerospace sector is characterized by market-driven activities involving both private and mixed-ownership enterprises, focusing on investment, operation, and risk management across the entire aerospace value chain [2][38]. - Global satellite frequency and orbital resources are becoming increasingly scarce, leading to a surge in satellite constellation construction, with countries competing for these critical resources [2][46]. - The Starlink project by SpaceX is leading the global satellite constellation efforts, while China is rapidly advancing with its own satellite constellation plans [2][47]. - The era of reusable rockets in China is beginning, with several new commercial rocket models expected to launch by the end of 2025, which could accelerate the deployment of low Earth orbit satellite constellations [2][34]. - Investment recommendations include focusing on satellite manufacturing, rocket launching, and space computing, with specific companies highlighted for their potential in these areas [2][34]. Summary by Sections Commercial Aerospace Overview - Commercial aerospace is defined as market-driven activities involving investment, operation, and risk management by enterprises, covering the entire aerospace technology development, manufacturing, launching, and application [2][38]. - The industry is segmented into upstream manufacturing, midstream launching, and downstream application and operation [2][38]. Satellite Industry Overview - The global aerospace industry is projected to reach $415 billion by 2024, with satellite industry revenues estimated at $293 billion [20]. - Satellite services account for 37% of the total satellite industry revenue, while satellite manufacturing and launching services contribute 6.9% and 3.2%, respectively [25]. Satellite Communication Market - The satellite communication market is expected to grow significantly, with China's satellite internet market projected to reach 75.1 billion yuan by 2025 and 151.2 billion yuan by 2030 [34]. - The demand for satellite communication is primarily driven by commercial and government sectors, accounting for 55% and 31% of the market, respectively [28]. Domestic Satellite Constellation Plans - China has ambitious plans for satellite constellations, with three major projects aiming to deploy over 30,000 satellites, including the GW constellation, G60 constellation, and Honghu-3 constellation [79][81]. - As of October 2025, the GW constellation has launched 116 satellites, marking significant progress in China's satellite internet development [84].

【商业航天概念震荡走弱 航天动力触及跌停】智通财经12月3日电，商业航天概念震荡走弱，航天动力 触及跌停，乾照光电跌超9%，航天宏图、上海港湾、航天环宇、航天科技、航天晨光、雷科防务、天 宜新材（维权）跟跌。 转自：智通财经 ...