顺灏股份今日跌9.97%，成交额47.43亿元，换手率28.46%，盘后龙虎榜数据显示，3家机构专用席位净 买入1.14亿元。炒股养家席位净买入6739.47万元。 ...

Core Viewpoint - The stock of Shunhao Co., Ltd. has surged over 120% in 12 trading days, reaching a historical high, driven by the active commercial aerospace sector, resulting in significant wealth gains for its controlling shareholders [1][2][3] Group 1: Stock Performance - Shunhao Co., Ltd. experienced a stock price increase of 122.33% over the last 12 trading days, with a closing price of 16.23 yuan per share and a market capitalization of 172 billion yuan [3][15] - The stock has risen 440% year-to-date, marking it as a "star stock" in the secondary market [1][2] - The stock reached a peak of 17.55 yuan per share during this period [3] Group 2: Business Developments - The recent stock surge is attributed to the company's investment of 110 million yuan in the company "Tuidao Chengguang," which focuses on launching computing satellites to establish a space data center [2][5] - Shunhao Co., Ltd. has diversified its business into industrial hemp and commercial aerospace, with plans for overseas share issuance and listing on the Hong Kong Stock Exchange [10][22] Group 3: Shareholder Wealth Increase - The controlling shareholder, Wang Zhenglin, holds 20.1% of the company, with a current share value of approximately 34.57 billion yuan, reflecting an increase of over 19 billion yuan since the stock surge began [9][21] - Wang Dan, the former controlling shareholder and father of Wang Zhenglin, holds 3.76% of the company, with a current share value of about 6.46 billion yuan, resulting in a combined increase of over 22 billion yuan for the father-son duo [9][21] Group 4: Market Context - The commercial aerospace sector has been buoyed by news of SpaceX seeking to go public, with a target valuation of approximately 1.5 trillion USD, which has positively impacted the A-share market [4][16] - The establishment of a Commercial Aerospace Department by the National Space Administration and the release of a three-year action plan for high-quality development in commercial aerospace further support the sector's growth [4][16]

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]

资金流向方面，今日该股主力资金净流出4.80亿元，其中，特大单净流出1.87亿元，大单资金净流出 2.93亿元。近5日主力资金净流出9.49亿元。（数据宝） 顺灏股份今日上涨1.76%，全天换手率37.07%，成交额66.64亿元，振幅8.33%。龙虎榜数据显示，机构 净买入1221.84万元，营业部席位合计净买入450.70万元。 深交所公开信息显示，当日该股因日换手率达37.07%上榜，机构专用席位净买入1221.84万元。 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11.86亿元，其中，买入成交额为6.02亿 元，卖出成交额为5.85亿元，合计净买入1672.54万元。 具体来看，今日上榜的营业部中，共有4家机构专用席位现身，即买二、买四、买五、卖三、卖五，合 计买入金额2.53亿元，卖出金额2.41亿元，合计净买入1221.84万元。 近半年该股累计上榜龙虎榜11次，上榜次日股价平均涨3.78%，上榜后5日平均涨22.57%。 顺灏股份12月15日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 ...

Core Viewpoint - The stock of Shunhao Co., Ltd. (002565) has seen a significant increase, rising over 130% in the last 12 trading days, but the company has issued a risk warning regarding its business collaboration with Beijing Rail Transit Technology Co., Ltd. [1] Group 1: Stock Performance - Shunhao Co., Ltd. hit a new high with a limit-up increase of approximately 8% on the 15th, before the limit was lifted [1] - The stock has accumulated a rise of over 130% in the past 12 trading days [1] Group 2: Business Risks - The company stated that its existing business does not have synergistic effects with the business of Beijing Rail Transit Technology Co., Ltd. [1] - The business of Beijing Rail Transit is subject to macroeconomic factors, industry policies, and market environment changes, which may lead to risks in industrialization and commercialization [1] - The "Tianshu Tiansuan" business may only have clear commercial value in the next five years, while the "Dishu Tiansuan" business may take five to ten years to compete with ground data centers [1] - The space data center faces significant challenges such as strong radiation, difficult orbital maintenance, debris hazards, and regulatory issues related to data governance and space traffic [1] Group 3: Financial Performance - For the first three quarters of 2025, the net profit attributable to shareholders of the listed company was 67.319 million yuan, a year-on-year increase of 20.29% [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 22.1344 million yuan, a year-on-year decrease of 61.12% [2]

每经记者｜杨建 每经编辑｜肖芮冬 ｜2025年12月15日 星期一｜ NO.1 韩文秀：明年还将根据形势变化出台实施增量政策 2025-2026中国经济年会12月13日召开，主题为"贯彻落实中央经济工作会议精神，以高质量发展为'十 五五'开好局"。中央财办分管日常工作的副主任、中央农办主任韩文秀表示，做好明年经济工作，要坚 持稳中求进，提质增效，加大逆周期和跨周期调节，切实提升宏观经济治理效能。去年9月26日中央政 治局会议以来，先后出台实施了一系列政策措施，明年还将根据形势变化出台实施增量政策。要协同发 挥存量政策和增量政策的集成效应，推动经济稳中向好。 NO.4 商务部财务司负责人：将更大力度支持惠民生和提振消费 12月14日，商务部财务司负责人解读《关于加强商务和金融协同更大力度提振消费的通知》指出，《通 知》提出3方面11条政策措施。一是深化商务和金融系统协作。二是加大消费重点领域金融支持。三是 扩大政金企对接合作。下一步，商务部将会同中国人民银行、金融监管总局，指导各地相关部门和金融 机构加强协作，推动相关举措落地生效，更大力度支持惠民生和提振消费，为"十五五"良好开局作出积 极贡献。 NO.5 三 ...

（编辑 王江浩） 证券日报网讯 12月14日晚间，顺灏股份发布公告称，公司股票于2025年12月10日、12月11日、12月12 日连续3个交易日内收盘价格涨幅偏离值累计超过20%，属于股票交易异常波动。公司滚动市盈率298倍 显著高于行业平均，2025年前三季度扣非净利同比下降61.12%，并提示未与轨道辰光的业务产生协同 效应、"地数天算"业务可能在未来5-10年才逐步具备与地面数据中心进行竞争的优势，存在较大不确定 性。 ...

Core Viewpoint - Shunhao Co., Ltd. has experienced a significant stock price increase, with a cumulative rise of over 110% in 11 trading days, leading to a market capitalization of 16.9 billion yuan. However, the company has issued a warning regarding the lack of synergy between its existing business and its investment in Beijing Orbit Chuang Technology Co., Ltd. [2] Company Overview - Shunhao Co., Ltd. operates in four main industries: special anti-counterfeit environmentally friendly paper, printed products, new tobacco, and industrial hemp. The company has subsidiaries located in key regions across China and has extended its operations to the United States, Japan, and Cambodia [3]. - In the first three quarters of 2025, Shunhao Co., Ltd. achieved a net profit attributable to shareholders of 67.319 million yuan, representing a year-on-year growth of 20.29% [3]. Investment in Orbit Chuang - In June 2025, Shunhao Co., Ltd. invested 110 million yuan in Orbit Chuang, acquiring a 19.3% stake. Orbit Chuang's primary business involves launching computing power satellites to establish space data centers, providing computing services to clients [3]. - The business of Orbit Chuang is expected to face challenges, including long commercialization cycles and various regulatory issues, with significant commercial value potentially emerging only in 5 to 10 years [2]. Industry Context - The market is increasingly focusing on space computing as commercial aerospace is integrated into national space development plans. The demand for computing power is expanding across various industries, with space data centers seen as a potential solution to the high energy consumption and heat dissipation issues faced by ground data centers [3]. - However, the space computing sector is still in the early stages of technological validation and industrial cultivation, requiring time for technology to mature and achieve large-scale commercialization [3].

Core Viewpoint - Shunhao Co., Ltd. has experienced a significant stock price increase, with a cumulative rise of over 110% in 11 trading days, leading to a market capitalization of 16.9 billion yuan. However, the company has issued a warning regarding the lack of synergy between its existing business and its investment in Beijing Trajectory Chuang Technology Co., Ltd. [1] Group 1: Company Overview - Shunhao Co., Ltd. operates in four main industries: special anti-counterfeiting environmentally friendly paper, printing products, new tobacco, and industrial hemp. Its subsidiaries are located in key regions across China and have extended operations to the United States, Japan, and Cambodia [2]. - For the first three quarters of 2025, Shunhao Co., Ltd. reported a net profit attributable to shareholders of 67.319 million yuan, representing a year-on-year growth of 20.29% [2]. Group 2: Investment in Trajectory Chuang - In June 2025, Shunhao Co., Ltd. invested 110 million yuan in Trajectory Chuang, acquiring a 19.3% stake. Trajectory Chuang's primary business involves launching computing satellites into the twilight orbit to establish a space data center, providing computing services to clients [2]. - The space computing sector is gaining attention as commercial aerospace is integrated into national space development plans. However, it is noted that space computing is still in the early stages of technological validation and industrial cultivation, requiring time for maturity and large-scale commercialization [2]. Group 3: Risks and Challenges - The announcement from Shunhao Co., Ltd. highlighted that the business of Trajectory Chuang does not create synergies with its existing operations and is subject to various risks, including macroeconomic factors, industry policies, and market environment changes. The commercial value of Trajectory Chuang's "Tianshu Tiansuan" business may only become clear in the next five years, while its "Dishu Tiansuan" business may take 5 to 10 years to compete effectively with ground data centers [1]. - The company emphasized that the investment in Trajectory Chuang would have a minimal impact on its operating performance by 2025, and the development of related industries remains in the early stages, with significant uncertainty regarding future returns [1].

Major Announcements - Shunhao Co., Ltd. faces potential delays and lower-than-expected commercialization benefits for its space data center project due to strong radiation and other factors [1] - Pudong Jinqiao's chairman Wang Ying has left the company due to a job transfer [1] Investment Projects - Jiaze New Energy plans to invest approximately 3.557 billion yuan in a green hydrogen and aviation fuel chemical co-production project in Jixi City, Heilongjiang Province [2] - Zoli Pharmaceutical intends to acquire a multi-trace element injection asset group for a total price of 356 million yuan [2] Regulatory Approvals - Jiankang Medical's U.S. subsidiary received pre-market notifications from the FDA for its four-in-one and three-in-one testing kits for respiratory viruses [3] - Saiyi Information has been approved to lead a national major science and technology project focused on intelligent manufacturing systems and robotics [4] - Jinpan Technology has received approval from the China Securities Regulatory Commission for issuing convertible bonds to unspecified investors [2] Corporate Actions - Hason Co., Ltd. is adjusting its plan to acquire assets, now focusing solely on acquiring a 45% stake in Suzhou Langkes [5] - Yipin Hong's U.S. subsidiary Arthrosi Therapeutics is set to be acquired by Sobi USA for a total of up to 950 million USD [5] - Zhonghuan Environmental plans to raise no more than 300 million yuan through a private placement to supplement working capital and repay loans [6] Clinical Trials and Approvals - Junshi Biosciences has received FDA approval for clinical trials of its JS212 drug for treating advanced solid tumors [7]