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].

顺灏股份今日跌停，全天换手率28.46%，成交额47.43亿元，振幅10.09%。龙虎榜数据显示，机构净买 入1.14亿元，营业部席位合计净卖出5298.09万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-11.68%上榜，机构专用席位净买入1.14亿元。 近半年该股累计上榜龙虎榜12次，上榜次日股价平均涨3.79%，上榜后5日平均涨18.66%。 资金流向方面，今日该股主力资金净流出2.35亿元，其中，特大单净流出1.58亿元，大单资金净流出 7628.62万元。近5日主力资金净流出1.30亿元。（数据宝） 顺灏股份12月17日交易公开信息 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 机构专用 | 10932.87 | 6669.63 | | 买二 | 机构专用 | 9602.67 | 7341.02 | | 买三 | 机构专用 | 7015.12 | 2117.56 | | 买四 | 华鑫证券有限责任公司上海宛平南路证券营业部 | 6784.96 | 45.49 | | 买五 | 中国国际金融股份有 ...

从资金流向上来看，当日包装印刷板块主力资金净流入1.0亿元，游资资金净流出2.31亿元，散户资金净 流入1.3亿元。包装印刷板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月17日包装印刷板块较上一交易日下跌0.18%，顺灏股份领跌。当日上证指数报收于 3870.28，上涨1.19%。深证成指报收于13224.51，上涨2.4%。包装印刷板块个股涨跌见下表： ...

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。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：环球老虎财经app 商业航天板块持续活跃，顺灏股份12个交易日内涨超120%，股价创历史新高，年内更是大涨440%。而 在这波暴涨行情中，公司实控人王钲霖与其父亲王丹无疑是最开心的，短短12个交易日，父子二人身家 暴涨超22亿元。 顺灏股份乘着商业航天的东风成为二级市场上的"明星股"。 12月15日，顺灏股份盘中再度涨停，后涨幅回落，收涨1.76%，报16.23元/股，最新市值172亿元。在最 近12个交易日内，公司股价已上涨超120%。 顺灏股份此番股价大涨，与近期商业航天板块的活跃有关。据悉，顺灏股份在今年6月，出资1.1亿元投 资了轨道辰光，后者的主营业务是通过将算力卫星发射至晨昏轨道，组建太空数据中心，公司也因此被 纳入了商业航天概念股。 值得注意的是，伴随着此次股价大涨，顺灏股份的一众股东可谓是享受了"资本盛宴"，其中，"大赢 家"当属公司的实控人王钲霖。目前，他持有公司20.1%的股权，最新持股市值达34.6亿元。同时，王钲 霖的父亲、顺灏股份的前实控人王丹还持有公司3982.25万股股份，占总股本的3.76%，最新持 ...

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]

盘面上，白酒概念、可控核聚变概念、食品饮料、工程机械等板块涨幅居前；CPO概念、锂矿概念、芯片概念、有色金属、房地产等板块跌幅居前。 港股方面，恒生指数和恒生科技指数大幅低开。阿里巴巴、腾讯控股、小米集团、快手等均有不同幅度下跌。港股黄金股走强，截至发稿，紫金黄金国际 涨近6%，赤峰黄金涨近5%，潼关黄金涨近3%，灵宝黄金涨近2%。 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | | 恒生指数 | 25751.99c | -224.80 | -0.87% | | 恒生科技 | 5541.71c | -96.34 | -1.71% | 商业航天概念延续强势 盘初，商业航天概念股走强。顺灏股份（002565）盘初触及涨停，录得12天8板，截至发稿涨幅收窄至7.08%。中超控股、华菱线缆3连板，通宇通讯、天 力复合、西测测试、臻镭科技跟涨。 12月15日，A股三大指数集体低开。 | 代码 | 名称 | | 最新 | 涨幅 | | --- | --- | --- | --- | --- | | 399001 | 深证成指 | T | 13202.52 | -0.42% ...

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 ...