股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 消息面上，由中国航天科技集团八院抓总研制的长征十二号甲可重复使用运载火箭，计划于2025年12月 中下旬在酒泉卫星发射中心执行其历史性的首次发射任务。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 920885 | 星辰科技 | 1 | 28.77 | 44.81亿 | 115.48 | | 300710 | 万隆光电 | 中 | 20.02 | 30.72亿 | 72.90 | | 300342 | 天银机电 | 1 | 19.98 | 128亿 | 86.75 | | 920576 | 天力复合 | 1 | 17.63 | 96.76亿 | 330.26 | | 688523 | 航天环宇 | 1 | 14.51 | 181亿 | 122.60 | | 301306 | 西测测试, | 1 | 13.67 | 100亿 | 218.12 | | 688333 | 铂力特 | | 13.03 | 264亿 | 144.68 | | 688 ...

西部材料涨7.18%，报31.95元/股，股价再创新高，总市值突破155.98亿元，成交额达27.87亿元。（AI 生成） ...

Investment Rating - The report provides a "Buy" rating for the industry, predicting that the stock price will outperform the Shanghai Composite Index by 15% or more within six months [56]. Core Insights - The global commercial space launch sector is undergoing a profound cost restructuring, shifting from a one-time manufacturing model to a reusable cost model. Traditional rockets have a hardware manufacturing cost share of about 67%, while emerging commercial rockets reduce this to around 24% through reusable designs [3][27]. - The launch market from 2024 to 2025 is expected to exhibit an absolute oligopoly, with launch service providers monopolizing orders and exerting control over the supply chain [5][42]. Summary by Sections 1. Cost Structure of Commercial Rockets - The cost breakdown of rockets shows that the first stage accounts for 60-70% of total costs, with engines being the most significant component, comprising over 50% of the first stage cost [13][27]. - The Falcon 9 rocket's cost structure indicates that the marginal cost of reuse is significantly lower than that of traditional rockets, with costs dropping to approximately $2,720 per kilogram in reusable mode [27][28]. 2. Industry Chain Benefits from Launch Volume - Launch service providers benefit directly from increased launch frequency and larger contracts, with revenue correlating to the number of launch tasks [4][35]. - The demand for reusable components and high-frequency replacement parts is expected to grow, driven by the need for higher reliability and maintenance of reusable systems [36]. 3. Investment Recommendations - Beneficiary stocks include companies involved in rocket manufacturing and space computing, such as Aerospace Power, Superjet, and West Materials, among others [6][52][53].

近半年该股累计上榜龙虎榜6次，上榜次日股价平均涨1.13%，上榜后5日平均涨8.98%。 资金流向方面，今日该股主力资金净流入2.08亿元，其中，特大单净流入2.14亿元，大单资金净流出 632.44万元。近5日主力资金净流出1.47亿元。 融资融券数据显示，该股最新（12月16日）两融余额为10.00亿元，其中，融资余额为9.98亿元，融券余 额为192.27万元。近5日融资余额合计增加2.37亿元，增幅为31.15%，融券余额合计增加4.90万元，增幅 2.61%。（数据宝） 西部材料今日上涨4.56%，全天换手率28.74%，成交额43.07亿元，振幅17.98%。龙虎榜数据显示，机构 净买入1.02亿元，深股通净卖出1860.58万元，营业部席位合计净买入6994.99万元。 深交所公开信息显示，当日该股因日振幅值达17.98%上榜，机构专用席位净买入1.02亿元，深股通净卖 出1860.58万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交9.48亿元，其中，买入成交额为5.51亿 元，卖出成交额为3.97亿元，合计净买入1.54亿元。 具体来看，今日上榜的营业部中，共有2家机构专用席 ...

New Stock Issuance - The new stock "健信超导" (code: 787805) is issued at a price of 18.58[1] - The new stock "昂瑞微" (code: 688790) is listed at a price of 83.06[1] Rights Issues and Offers - "荃银高科" (code: 300087) has a tender offer period from December 4, 2025, to January 5, 2026[1] - "天普股份" (code: 605255) has a tender offer period from November 20, 2025, to December 19, 2025[1] Delisting and Trading Alerts - "退市苏吴" (code: 600200) has 10 trading days remaining until the last trading day[1] - "ST广道" (code: 920680) has 12 trading days remaining until the last trading day[1] Stock Performance Alerts - "赛微电子" (code: 300456) has reported severe abnormal fluctuations[1] - "ST立方" (code: 300344) has also reported severe abnormal fluctuations[1]

西部材料今日上涨4.29%，全天换手率33.68%，成交额48.71亿元，振幅16.57%。龙虎榜数据显示，深股 通净卖出1150.92万元，营业部席位合计净卖出1.94亿元。 深交所公开信息显示，当日该股因日振幅值达16.57%上榜，深股通净卖出1150.92万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交8.14亿元，其中，买入成交额为3.04亿 元，卖出成交额为5.10亿元，合计净卖出2.06亿元。 具体来看，今日上榜的营业部中，深股通为第一大买入营业部及第一大卖出营业部，买入金额为 9908.77万元，卖出金额为1.11亿元，合计净卖出1150.92万元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均涨1.71%，上榜后5日平均涨8.95%。 资金流向方面，今日该股主力资金净流出3.32亿元，其中，特大单净流出1.40亿元，大单资金净流出 1.92亿元。近5日主力资金净流入3525.11万元。 融资融券数据显示，该股最新（12月12日）两融余额为9.61亿元，其中，融资余额为9.58亿元，融券余 额为242.14万元。近5日融资余额合计增加3.46亿元，增幅为56.50%，融券余额合 ...

Group 1 - The nanometer silver sector led the decline, dropping by 2.38% [1] - Among the companies, Western Materials fell by 4.7% [1] - Yingtang Intelligent Control decreased by 4.28% [1] - Ultrasonic Electronics experienced a decline of 3.3% [1] - Yangzi New Materials dropped over 3% [1]

Core Insights - The A-share commercial aerospace sector continues to show strong upward momentum, characterized by a "continuous board leading the rise, blooming at multiple points" pattern, establishing itself as a key focus in the new productivity landscape [1] - The establishment of a national-level regulatory body for commercial aerospace marks a transition from a "policy cultivation period" to a "regulated development period," which is expected to optimize approval processes and reduce institutional transaction costs for enterprises [1][2] - The commercial aerospace market in China has surpassed 2.8 trillion yuan in 2025, with projections to reach 7.8 trillion yuan by 2030, driven primarily by satellite application services [2] Market Dynamics - The commercial aerospace sector is experiencing a significant influx of capital, with policies from the China Securities Regulatory Commission supporting the listing of commercial aerospace companies on the Sci-Tech Innovation Board, and several private aerospace firms entering the IPO guidance phase [2] - Local governments are establishing specialized funds for commercial aerospace, with a total scale exceeding 50 billion yuan, providing substantial financial support for industry development [2] Benefiting Sectors - The aerospace materials sector is benefiting from the urgent demand for high-end materials in rocket and satellite manufacturing, with companies like Western Materials and Tai Steel seeing significant order growth [3] - The satellite communication and measurement control sector is experiencing explosive demand due to the dense networking of low-orbit constellations, with companies like Leike Defense and Tongyu Communication reporting doubled orders [3] - The aerospace electronics and components sector is reliant on core electronic components for precision manufacturing, with companies like Keda Guokai and Zhenyou Technology entering mainstream supply chains, anticipating over 40% revenue growth in 2025 [3]

（编辑 王江浩） 证券日报网讯 12月14日晚间，西部材料发布公告称，公司股票于2025年12月10日、11日、12日连续三 个交易日收盘价格涨幅偏离值累计超过20%，属于异常波动。经核实，公司前期披露信息无需更正，经 营情况正常，未发现应披露未披露重大事项，控股股东在波动期间未买卖公司股票。 ...

国防军工热度居高不下！12月12日，商业航天、可控核聚变、超导等多题材联袂带动，高人气国防军工 ETF（512810）收盘价再创逾1个月新高，相关成份股表现尤为亮眼，西部材料6天4板再创新高，应流 股份、航天发展亦创历史新高，四川九洲尾盘封板。 | 序号 | 什么样 | 名称 | 估算权重 | 现价 | 涨跌幅 ▼ | 成交额 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 002149 | 西部材料 | 0.56% | 28.93 | 10.00% | 45.43 Z | | 2 | 000801 | 四川九洲 | 0.69% | 17.85 | 9.98% | 22.58亿 | | 3 | 688122 | 西部超导 | 2.00% | 75.51 | 7.18% | 32.95亿 | | 4 | 600363 | 联创光电 | 1.59% | 60.06 | 7.06% | 13.44亿 | | ਦੇ | 688375 | 国博电子 | 0.00% | 76.80 | 6.09% | 11.74亿 | | 6 | 603308 | 应流股份 | 1 ...