Core Viewpoint - The company has approved a capital increase of 74.9804 million yuan to its subsidiary, Beijing Rail Transit Chen Guang Technology Co., Ltd., which will enhance its stake to 28.68% and support the subsidiary's business development in the space data center sector [1] Group 1: Company Actions - The company will hold its sixth board meeting on January 13, 2026, to review the proposal for the capital increase [1] - The capital increase aims to strengthen the investment layout of the company and align with its future development strategy [1] Group 2: Subsidiary Business Overview - Beijing Rail Transit Chen Guang Technology Co., Ltd. focuses on launching computing power satellites into the dawn-dusk orbit to establish a space data center [1] - The subsidiary's business scope includes the production and research of small satellites, as well as internet information services [1]

转自：证券时报 人民财讯1月13日电，顺灏股份(002565)1月13日公告，公司持有北京轨道辰光科技有限公司（简称"轨 道辰光"）19.3%的股权，出于看好轨道辰光未来业务的发展前景，公司拟向参股公司轨道辰光增资 7498.04万元。增资完成后，公司持有轨道辰光的股权比例为28.68%，不会导致公司合并报表范围的变 动。 ...

Core Viewpoint - The company plans to increase its investment in the subsidiary, Rail Chuang, by 74.98 million yuan, raising its ownership stake from 19.30% to 28.68%, which will not affect the scope of consolidated financial statements [1] Group 1: Investment Details - The capital increase will be classified as a related party transaction since the chairman of Rail Chuang is a director of the company [1] - After the capital increase, the company's stake in Rail Chuang will rise significantly, indicating a strategic move to enhance its investment portfolio [1] Group 2: Financial Performance of Rail Chuang - For the period from January to September 2025, Rail Chuang reported revenue of 17.64 million yuan and a net loss of 0.38 million yuan [1] - The financial performance highlights challenges faced by Rail Chuang, including long industrialization and commercialization cycles, as well as risks of not meeting expectations [1]

Core Viewpoint - Shunhao Co., Ltd. plans to increase its investment in its associate company, Guidao Chengguang, by 74.98 million yuan, resulting in a 28.68% equity stake in Guidao Chengguang, which constitutes a related party transaction [1] Group 1 - The investment amount for the capital increase is 74.98 million yuan [1] - After the capital increase, Shunhao will hold a 28.68% stake in Guidao Chengguang [1] - Guidao Chengguang's main business involves launching computing power satellites into the dawn-dusk orbit to establish a space data center, providing computing power services [1] Group 2 - The operational scope of Guidao Chengguang includes the production and manufacturing of small satellites, research and testing of small satellites, and internet information services [1]

证券代码：002565 证券简称：顺灏股份 公告编号：2026-004 上海顺灏新材料科技股份有限公司 关于对北京轨道辰光科技有限公司增资暨关联交易的 公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 上海顺灏新材料科技股份有限公司（以下简称"公司"）于 2026 年 1 月 13 日召开第六届董事会第十二次会议，审议通过了《关于对北京轨道辰光科技有限 公司增资暨关联交易的议案》，同意公司向参股子公司北京轨道辰光科技有限公 司（以下简称"轨道辰光"）增资 74,980,370.16 元。现将具体情况公告如下： 一、本次交易概述 （一）交易的基本情况 公司持有轨道辰光 19.30%的股权，出于看好轨道辰光未来业务的发展前景， 为进一步优化投资结构与布局，公司拟向轨道辰光增资 74,980,370.16 元。本次 增资完成后公司将持有轨道辰光的股权比例为 28.6800%，不会导致公司合并报 表范围的变动。 （二）关联关系 2025 年 9 月公司选举张善从先生担任公司第六届董事会非独立董事，目前 担任轨道辰光董事长；2025 年 8 月公司聘任张哲宇先生为公司联席 ...

证券代码：002565 证券简称：顺灏股份 公告编号：2026-003 上海顺灏新材料科技股份有限公司 第六届董事会第十二次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 上海顺灏新材料科技股份有限公司（以下简称"公司"）第六届董事会第十 二次会议于 2026 年 1 月 13 日以通讯方式召开。会议通知已于 2026 年 1 月 8 日以 邮件方式送达，会议应到董事 6 人，实到董事 6 人。会议由公司董事长王钲霖先 生召集并主持，部分高级管理人员列席会议，本次会议的召集、召开符合《公司 法》和《公司章程》的规定。 二、董事会会议审议情况 经与会董事审议，会议通过了如下决议： 1、审议通过《关于对北京轨道辰光科技有限公司增资暨关联交易的议案》 特此公告。 上海顺灏新材料科技股份有限公司董事会 2026年1月14日 2 具体内容详见公司于同日在《证券日报》和巨潮资讯网（www.cninfo.com.cn） 披露的《关于对北京轨道辰光科技有限公司增资暨关联交易的公告》（公告编号： 2026-004）。 投票结果：5 票同意，0 票 ...

Market Overview - The three major indices collectively adjusted, with the Shenzhen Component Index falling over 1% and the ChiNext Index dropping nearly 2% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.65 trillion yuan, an increase of 49.6 billion yuan compared to the previous trading day [1] - By the end of the trading session, the Shanghai Composite Index decreased by 0.64%, the Shenzhen Component Index by 1.37%, and the ChiNext Index by 1.96% [1] Sector Performance - The AI application concept sector rose against the trend, with over ten constituent stocks hitting the daily limit, including Ingrity Media, Liou Co., and Shenguang Group [1] - The AI medical concept remained active, with Meian Health achieving three consecutive limit-ups, and stocks like Hongbo Pharmaceutical and Xin Ganjiang also hitting the limit [1] - The power grid equipment sector strengthened in the afternoon, with TBEA and Sanbian Technology reaching the daily limit [1] - The retail sector showed active performance, with Sanjiang Shopping achieving two consecutive limit-ups [1] Declining Sectors - The commercial aerospace and controllable nuclear fusion sectors experienced significant declines, with stocks like Shunhao Co. and China Satellite Communications hitting the daily limit down [1]

Group 1 - Weiteou signed a strategic cooperation agreement with Qiteng Robotics to focus on safety upgrades in high-risk industries, leveraging new materials and robotics [1] - Dongfang Caifu's subsidiary received approval from the CSRC to issue subordinate bonds totaling up to 20 billion yuan [2] - Haibo Zhongke's controlling shareholder plans to reduce holdings by up to 2.98% of the company's shares [3] Group 2 - Shengyang Technology's subsidiary FTA is expanding into the foreign satellite internet terminal business, which is still in the early commercialization stage [4] - Cangge Mining expects a net profit increase of 43.41%-53.1% for 2025, projecting a profit of 3.7-3.95 billion yuan [5] - Jinlongyu plans to invest approximately 1.2 billion yuan to build a production line for solid-state batteries with an annual capacity of 2 GWh [6] Group 3 - Shengda Resources intends to acquire a 55% stake in Guangxi Laibin Jinshi Mining for 269.5 million yuan [7] - Zhifei Biological's CA111 injection has entered Phase I clinical trials, targeting diabetes and weight loss treatment [8] - Qusleep Technology's specific shareholders plan to reduce their holdings by up to 2.58% of the company's shares [9] Group 4 - Innovation Medical's subsidiary has a product expected to generate revenue of 114,000 yuan in 2025 [11] - Blue Ocean Cursor noted that AI-driven revenue currently constitutes a small portion of overall revenue [12] - *ST Yanshi anticipates a loss for the 2025 fiscal year, with revenue expected to be below 300 million yuan [13] Group 5 - ST Yishite will lift risk warnings and change its stock name, resuming trading on January 14 [14] - Shaoyang Hydraulic clarified that its products do not directly serve commercial aerospace clients [15] - Boss Electric plans to invest 100 million yuan in Youte Smart Kitchen to deepen strategic cooperation [16] Group 6 - Guo An Da's controlling shareholder plans to reduce holdings by up to 3% of the company's shares [17] - *ST Mingjia has lifted the delisting risk warning following the completion of its restructuring plan [18] - Haixiang Pharmaceutical signed an innovative drug cooperation agreement with Wanbangde Pharmaceutical [19] Group 7 - Palm Holdings plans to transfer stakes in two project companies for debt compensation, amounting to 258 million yuan [20] - Bohai Leasing's subsidiary Avolon is projected to have a fleet of 1,132 aircraft by the end of 2025 [21] - Zhenyou Technology reported that satellite internet revenue accounted for approximately 7.15% of total revenue in the first three quarters of 2025 [22] Group 8 - Blue Arrow Electronics intends to acquire at least 51% of Chengdu Xinyi Technology [23] - Shunhao Co. stated that its investment in Tianshu Chuangxin will have a minimal impact on its 2025 performance [24][25] - Baichuan Co.'s deputy general manager plans to reduce holdings by up to 0.65% of the company's shares [26] Group 9 - Zhewen Interconnect reported that its GEO business has not yet formed a mature profit model [27] - XW Communication's controlling shareholder plans to reduce holdings by up to 1% of the company's shares [28] - Electric Science Digital indicated that its satellite communication products are not its main business [29] Group 10 - Bojun Technology expects a net profit increase of 35%-65% for 2025, projecting a profit of 828-1,012 million yuan [30] - Rongchang Bio signed a licensing agreement for the RC148 drug with AbbVie, with an initial payment of 650 million USD [31] - Guoxin Technology's state investment fund plans to reduce holdings by up to 2.37% of the company's shares [32] Group 11 - Hengxuan Technology's controlling shareholder plans to reduce holdings by up to 3% of the company's shares [33][34] - *ST Chengchang announced a stock suspension for investigation due to abnormal trading [35] - Zhongji Xuchuang's subsidiary plans to issue warrants to incentivize its core team [36] Group 12 - Zhuoshengwei expects a net loss of 255-295 million yuan for 2025 [37] - Pingtan Development anticipates a loss for the 2025 fiscal year [38] - Nanjing Bank's major shareholder increased its stake by 123.472 million shares [39] Group 13 - Jingao Technology expects a net loss of 4.5-4.8 billion yuan for 2025 [40] - Mingyang Smart plans to acquire control of Dehua Company, with stock suspension [41] - Vanadium Titanium Co. anticipates a loss for the 2025 fiscal year [42][43] Group 14 - Tianzhihang announced a delay in its "Smart Medical Center Construction Project" [44]

Core Viewpoint - The company Shunhao Co., Ltd. (002565.SZ) has seen a significant increase in stock price due to its investment in the commercial aerospace sector, despite uncertainties regarding the long-term profitability of its investments [1][2]. Group 1: Investment and Shareholding - Shunhao Co., Ltd. plans to invest 74.98 million yuan in Beijing Orbit Chengguang Technology Co., Ltd. (referred to as "Orbit Chengguang"), increasing its shareholding from 19.30% to 28.68% [1]. - The initial investment of 110 million yuan in June 2025 marked Shunhao's entry into the commercial aerospace sector, transitioning from its traditional business of tobacco paper [1]. Group 2: Business Operations and Performance - Orbit Chengguang's primary business involves launching computing power satellites to create a space data center, offering computing services to clients [1]. - The company has reported a 20.57% year-on-year decline in operating revenue and a 61.12% drop in net profit excluding non-recurring items for the first three quarters of 2025 [2]. - There are significant uncertainties regarding the commercialization of Orbit Chengguang's services, with potential competitive advantages not expected to materialize for 5 to 10 years [1]. Group 3: Regulatory and Legal Issues - The company has faced scrutiny from the Chuzhou Municipal Supervisory Committee regarding allegations of unit bribery, although no conclusive results have been reported [2].

Core Viewpoint - The A-share commercial aerospace sector has seen significant stock price increases due to a surge in capital inflow, leading to many companies triggering "serious abnormal fluctuations" as defined by exchange regulations [1][2]. Group 1: Market Activity - As of January 12, ten companies have issued risk warning announcements, primarily within the commercial aerospace sector, indicating potential for significant price corrections following such announcements [2]. - Historical data suggests that companies issuing such warnings often experience substantial stock price declines in the following days [2][6]. - Multiple companies, including Shunhao Co., Aerospace Development, and others, have reported serious abnormal fluctuations, highlighting the volatility in the commercial aerospace sector [4]. Group 2: Company Responses - Companies have responded to the fluctuations by emphasizing that their aerospace business revenue is minimal, cautioning investors about the risks of irrational speculation [3][12]. - Aerospace Development, a leading company in the sector, reported a cumulative stock price increase of 367% since November 14, 2025, but noted that its aerospace-related revenue is less than 1% of total revenue [12]. - Shunhao Co. indicated that its investment in a satellite company, while significant, does not currently impact its main business operations [13]. Group 3: Regulatory Environment - The definition of "serious abnormal fluctuations" includes specific criteria such as consecutive trading days with significant price deviations, which can trigger regulatory scrutiny [5][6]. - Companies experiencing these fluctuations are required to conduct investigations and disclose any undisclosed significant matters, with exchanges monitoring trading activities closely [6][11]. - The market has shown sensitivity to "controlled fluctuations," where some stocks have managed to avoid triggering regulatory limits through strategic price management [10][11]. Group 4: Industry Outlook - The influx of capital into the commercial aerospace sector has raised concerns about price deviations from fundamental values, with experts advising caution against speculative trading [2][11]. - Companies like West Materials and Reascend Technology have acknowledged the risks of irrational speculation while maintaining that their fundamental business conditions remain unchanged [14][15]. - The overall sentiment in the market suggests that while there is significant interest in the commercial aerospace sector, long-term performance will depend on actual business results rather than speculative trading [11].