Group 1 - The core viewpoint of the article emphasizes the rapid development of China's commercial space industry, highlighting significant advancements in launch frequency, satellite internet, and government support [3][4][5][6]. - In 2025, global space launches reached a record high of 337, a 28% increase from 263 in 2024, with China and the U.S. accounting for 84% of total launches [9][11]. - The establishment of commercial space as a strategic emerging industry in China was marked by its inclusion in the government work report in March 2025 and the formation of the Commercial Space Administration in November 2025 [12][18]. Group 2 - China's commercial space sector is entering an accelerated development phase, with a notable increase in private sector participation and a shift towards commercialization since 2015 [15][16]. - The government has significantly increased policy support for commercial space, transitioning from encouragement to institutional establishment and relaxed access [17][19]. - The cost of satellite launches has decreased, with domestic launch costs dropping from 115,000 yuan/kg in 2020 to 75,000 yuan/kg in 2024, although still higher than SpaceX's Falcon 9 [20]. Group 3 - SpaceX is leading the global commercial space industry, conducting 165 launches in 2025, which is 49% of the total, and plans to go public in 2026 [21][22]. - The development model represented by SpaceX focuses on extreme scalability, cost reduction, and continuous innovation, transforming space technology into practical global services [22][23]. - Other companies like Blue Origin and Virgin Galactic are also entering the commercial space sector, focusing on space tourism [23]. Group 4 - The first major application of future commercial space is low-orbit satellite internet, which is expected to enter the consumer market with services like SpaceX's Starlink Direct to Cell [25][27]. - The market potential for low-orbit satellite internet is vast, with estimates suggesting it could reach trillions in scale, as it targets consumer markets rather than just B2B [28][29]. - The second major application is the deployment of AI data centers in space, leveraging the unique environmental advantages of space for energy efficiency and cooling [33][36].

近7日(2026年2月9日至13日)，盟升电子股价波动较大，区间涨跌幅为-0.24%，振幅达7.71%。2月13日 最新收盘价为44.88元，单日下跌0.73%，成交额1.26亿元；主力资金净流出842.60万元，延续近期净流 出趋势。股价短期承压，但60日内累计上涨35.44%，反映长期资金对卫星应用赛道关注度较高。 经济观察网盟升电子于2026年2月12日发布2025年全年业绩预告，预计实现营业收入5.26亿元，同比增 长277%，创历史新高；预计归属于母公司所有者的净利润为-1800万元至-1200万元，亏损同比大幅减 少。业绩改善主要受国内特种行业订单恢复执行、下游需求增加驱动，公司卫星导航和卫星通信业务订 单显著增长。尽管仍处亏损，收入高速增长和亏损收窄显示业务复苏态势。 近期事件 2026年2月13日，我国完成首次火箭芯一级箭体海上打捞回收任务，长征十号运载火箭的低空演示验证 成功，推动可重复使用技术发展，对卫星互联网、商业航天产业链形成潜在催化。盟升电子作为卫星导 航和通信设备企业，可能受益于航天产业政策与技术进步。此外，公司于2025年12月引入四川发展引领 资本作为战略投资者，持股6.25% ...

特此公告。 东方金诚国际信用评估有限公司 东方金诚国际信用评估有限公司关于 成都盟升电子技术股份有限公司 2025 年度业绩预亏的关注公告 1 东方金诚公告【2026】0069 号 东方金诚国际信用评估有限公司（以下简称"东方金诚"）受托对成都盟升电子技术股份有限 公司（以下简称"盟升电子"或"公司"）及其发行的"成都盟升电子技术股份有限公司向不特定 对象发行可转换公司债券"（以下简称"盟升转债"）进行了信用评级。2025 年 6 月 23 日，东方 金诚对盟升电子及"盟升转债"进行了定期跟踪评级，下调公司主体信用等级为 A，评级展望稳定， 下调"盟升转债"信用等级为 A，评级结果自报告出具日起生效，在受评债项的存续期内有效。 东方金诚关注到，2026 年 1 月 31 日，盟升电子发布了《成都盟升电子技术股份有限公司 2025 年年度业绩预告》（以下简称"业绩预告"）。业绩预告中披露，预计公司 2025 年年度实现归属 于母公司所有者的净利润为-1800.00 万元到-1200.00 万元，与上年同期相比，亏损金额减少 25364.66 万元到 25964.66 万元；预计 2025 年年度实现归属于母公司 ...

Core Viewpoint - The company, Alliance Electronics, has announced a projected net loss for the year 2025, estimating a loss between 12 million to 18 million yuan, primarily due to the impact of the domestic special industry [1] Group 1: Financial Performance - The company expects to achieve an operating revenue of 526 million yuan in 2025, which represents a year-on-year growth of approximately 277% [1] - The increase in orders is attributed to the gradual recovery of previously suspended or delayed project orders and an increase in downstream customer demand [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 ● 公司于2026年2月6日召开第五届董事会第六次会议，审议通过《关于提前赎回"盟升转债"的议案》， 决定行使"盟升转债"的提前赎回权利，按照债券面值加当期应计利息的价格对赎回登记日登记在册 的"盟升转债"全部赎回。 ● 投资者所持"盟升转债"除在规定时限内通过二级市场继续交易或按照20.94元/股的转股价格进行转股 外，仅能选择以100元/张的票面价格加当期应计利息被强制赎回。若被强制赎回，可能面临较大投资损 失。 证券代码：688311 证券简称：盟升电子 公告编号：2026-006 转债代码：118045 转债简称：盟升转债 成都盟升电子技术股份有限公司关于提前赎回"盟升转债"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、准确性和完整性依法承担法律责任。 重要内容提示： ● 自2026年1月19日至2026年2月6日期间，成都盟升电子技术股份有限公司（以下简称"公司"）股票满 足在连续三十个交易日中有十五个交易日的收盘价不低于"盟升转债"当期转股价格20.94元的130%（含 130%），即 ...

Group 1 - The company, Mengsheng Electronics, indicated that investors should pay attention to the financial data for the first quarter of 2026, which will be disclosed in the regular report [2]

Core Viewpoint - The company Mengsheng Electronics (688311.SH) has triggered the conditional redemption clause for its convertible bonds due to its stock price meeting specific criteria, leading to a decision for early redemption of the bonds [1] Group 1: Stock Performance and Redemption Trigger - From January 19, 2026, to February 6, 2026, the company's stock price closed at or above 130% of the current conversion price of the "Mengsheng Convertible Bonds," which is 20.94 yuan, specifically reaching 27.22 yuan per share [1] - The company convened its sixth meeting of the fifth board of directors on February 6, 2026, and approved the proposal for early redemption of the "Mengsheng Convertible Bonds" [1] Group 2: Redemption Process and Investor Options - The company will redeem all "Mengsheng Convertible Bonds" at the face value plus accrued interest on the redemption registration date [1] - Investors holding "Mengsheng Convertible Bonds" can either continue trading in the secondary market within the specified time or convert at the price of 20.94 yuan per share, or face mandatory redemption at 100 yuan per bond plus accrued interest, which may lead to significant investment losses [1]

Core Viewpoint - The company, Alliance Electronics (688311.SH), has triggered the conditional redemption clause for its convertible bonds due to the stock price meeting specific criteria, leading to a decision to redeem all outstanding bonds at face value plus accrued interest [1] Group 1: Stock Performance and Redemption Trigger - The company's stock price must remain above 130% of the current conversion price of the convertible bonds, which is set at 20.94 CNY, equating to 27.22 CNY per share, for at least 15 out of 30 consecutive trading days [1] - The redemption period is specified from January 19, 2026, to February 6, 2026, during which the stock price conditions were met [1] Group 2: Board Decision and Redemption Process - On February 6, 2026, the company's board of directors approved the proposal for early redemption of the convertible bonds [1] - Investors holding the convertible bonds can either continue trading them in the secondary market or convert them at the price of 20.94 CNY per share, or face mandatory redemption at 100 CNY per bond plus accrued interest [1] Group 3: Investment Risks - If investors are forced to redeem the bonds, they may incur significant investment losses [1]

一、可转债发行上市情况 经中国证券监督管理委员会核发的《关于同意成都盟升电子技术股份有限公 司向不特定对象发行可转换公司债券注册的批复》（证监许可[2023]1352 号）， 公司于 2023 年 9 月 12 日向不特定对象发行了 300.00 万张可转换公司债券，每 张面值 100 元，发行总额 30,000.00 万元，期限为自发行之日起六年，即自 2023 年 9 月 12 日至 2029 年 9 月 11 日，票面利率为第一年 0.20%、第二年 0.40%、第 | 证券代码：688311 | 证券简称：盟升电子 | 公告编号：2026-006 | | --- | --- | --- | | 转债代码：118045 | 转债简称：盟升转债 | | 成都盟升电子技术股份有限公司 关于提前赎回"盟升转债"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、准确性和完整性依法承担法律责任。 重要内容提示： 自 2026 年 1 月 19 日至 2026 年 2 月 6 日期间，成都盟升电子技术股份有 限公司（以下简称"公司"）股票满足在连续三十个交 ...

华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐机构"） 作为成都盟升电子技术股份有限公司（以下简称"盟升电子"或"公司"）首次 公开发行股票及向不特定对象发行可转换公司债券并在科创板上市的保荐机构， 根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上市公 司募集资金管理和使用的监管要求》《上海证券交易所科创板股票上市规则》《上 海证券交易所上市公司自律监管指引第 11 号——持续督导》以及《上海证券交 易所科创板上市公司自律监管指引第 1 号——规范运作》等法律、行政法规、部 门规章及业务规则，对盟升电子提前赎回"盟升转债"的事项进行了认真、审慎 的核查，核查情况如下： 一、可转债发行上市情况 经中国证券监督管理委员会核发的《关于同意成都盟升电子技术股份有限公 司向不特定对象发行可转换公司债券注册的批复》（证监许可[2023]1352 号）， 公司于 2023 年 9 月 12 日向不特定对象发行了 300.00 万张可转换公司债券，每 张面值 100 元，发行总额 30,000.00 万元，期限为自发行之日起六年，即自 2023 年 9 月 12 日至 2029 年 9 月 ...