近日，上海复遥星河航天科技有限公司发生工商变更，控股股东变更为钧达股（持股60%），复遥星河 航天科技100%持股巡天千河，即钧达间接控股了商业卫星公司巡天千河。 投资建议。公司在太空领域持续投入，之前与合作方控股设立CPI 膜与晶硅太阳能叠层的子公司，近期 完成约4 亿港元的H 股配售，又控股了知名的民营卫星公司，实现太空能源+卫星领域的高质量卡位， 未来有望实现跨越式发展，维持"增持"投资评级。 风险提示：行业需求不及预期，海外布局和贸易风险，太空、卫星等新业务风险等。 控股知名卫星公司巡天千河。近日，上海复遥星河航天科技有限公司发生工商变更，控股股东变更为钧 达股（持股60%），法定代表人变更成为钧达副董事长郑洪伟。复遥星河航天科技100%持股巡天千 河，即钧达间接控股了商业卫星公司巡天千河。 巡天千河有核心竞争力，发展潜力大。巡天千河技术团队源于航天科技集团，有近百颗商业卫星研制经 验，是国内知名的卫星整星公司。该公司掌握卫星核心单机、有效载荷核心技术，可为客户提供卫星研 制、新技术搭载验证服务、用户终端研制等一体化解决方案，供应链自研比例约70%。其整星制造覆盖 10kg~1000kg 各类卫星，应 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Insights - The controlling shareholder of Shanghai Fuyou Xinghe Aerospace Technology Co., Ltd. has changed to Jun Da Co., which holds 60% of the shares. Shanghai Xuntian Qianhe Space Technology Co., Ltd. is a wholly-owned subsidiary of Fuyou Xinghe [2][5]. - Xuntian Qianhe is a leading satellite manufacturer in China, located in the G60 Space Internet Industry Base in Songjiang District, Shanghai. The company focuses on high-quality commercial satellites through independent research and technological innovation [12]. - The company has a strong technical team with nearly a hundred commercial satellite development experiences and has developed six satellite platforms covering micro and small satellites from 10kg to 1000kg [12]. - Jun Da Co. has completed its H-share placement, raising a net amount of HKD 398 million, with 45% allocated for the research and production of space photovoltaic battery products, 45% for equity investment and cooperation in the commercial aerospace sector, and 10% for working capital [12]. - The company aims to solidify its position in the remote sensing satellite market, enhance data accuracy and timeliness, and expand into the communication satellite field [12]. Financial Data Summary - Current stock price is 97.83 CNY, with a total share capital of 31,127 million shares and a circulating A-share of 22,487 million shares [7]. - The projected total revenue for 2026 is 10,805 million CNY, with a net profit forecast of 488 million CNY [16]. - The company expects to achieve a net profit of 1,034 million CNY by 2027, with an EPS of 3.32 CNY [16].

钧达股份（002865.SZ）事件点评 控股巡天千河，产业链纵向布局打造商业航天宏伟蓝图 glmszqdatemark 2026 年 02 月 09 日 事件 根据企查查，26 年 2 月 3 日，上海复遥星河航天科技有限公司发生工商变更，其控股 股东已变更为钧达股份，持股 60%，上海巡天千河空间技术有限公司为上海复遥全资 子公司，继成立上饶钧达布局太空光伏领域后，钧达在商业航天板块持续加码，产业 链纵向布局切入卫星总成领域。 巡天千河：商业航天新兴力量，打造商业卫星领军企业 上海巡天千河空间技术有限公司成立于 2024 年。是国内领先的卫星整星设计制造企 业，技术团队来自于大型科研院所，技术骨干均有国家科技重大专项和航天型号的设 计研制经验，具有 60 余颗各类商业卫星研制经验，在卫星整星、卫星单机和卫星载荷 领域掌握核心关键技术，同类型卫星已在轨运行超过 7 年。公司具有成熟的 XT-30、 XT-50、XT-100、XT-200、XT-500 五型卫星平台，覆盖 10kg~1000kg 的小卫星和 微纳卫星整星产品，应用领域涵盖遥感、通信、态势感知、新技术搭载验证等方向。 目前巡天千河已构建起领先的技 ...

Group 1 - The core viewpoint is that the space photovoltaic industry has significant potential, driven by both domestic and international developments, particularly with SpaceX's plans for a solar energy satellite network and China's increasing satellite launch capabilities [1][2] - The global market for space photovoltaics could reach 8GW annually, with a potential market size of 8 trillion yuan, even if the cost of components decreases significantly [2] - China's photovoltaic industry is strong, with leading manufacturers in equipment and materials, such as Maiwei and Aotwei, which are expected to gain incremental orders due to the expansion of overseas leaders [3] Group 2 - The report suggests focusing on key photovoltaic equipment manufacturers like Aotwei, Maiwei, and others that are likely to benefit from the expansion of overseas leaders [3] - It also highlights core material manufacturers like Dongfang Risen and others that have established deep relationships with overseas clients, which will drive profit growth [3]

Group 1 - The photovoltaic sector has seen significant gains, with multiple stocks experiencing substantial increases in their share prices [1][2][3] - Key performers include GCL-Poly Energy, which has achieved a four-day consecutive rise, and Shuangliang Energy, which has seen three increases in five days [1] - Other notable stocks that reached their daily limit include Suwen Electric, Juhe Materials, and several others, with increases of up to 20% [1][2] Group 2 - In the stock market, Tongxiang Technology led with a rise of 29.98%, followed by Suwen Electric and Juhe Materials, both at 20% [2] - Other significant gainers include Jieput, which rose by 18.86%, and Liancheng CNC, which increased by 15.02% [2] - The Hong Kong market also reflected positive trends in the photovoltaic sector, with Jun Da shares up over 15% and GCL-Poly Energy up over 14% [3][4]

Group 1 - The photovoltaic sector experienced significant gains, with multiple stocks hitting their daily limit up, including GCL-Poly Energy, which achieved a four-day consecutive rise [1] - Notable stocks with substantial increases include Suwen Electric, Juhe Materials, and others, all reaching a 20% limit up [1] - Several companies such as Jietu, Liancheng CNC, and Jinko Energy saw their stock prices rise by over 11% [1] Group 2 - Specific stock performance data shows that Tongxiang Technology surged by 29.98%, reaching a price of 25.23, with a net inflow of 7.89 million [2] - Suwen Electric and Juhe Materials both increased by 20%, with current prices of 26.16 and 89.23 respectively [2] - Other notable performers include Jietu with an 18.86% rise, and Liancheng CNC with a 15.02% increase [2] Group 3 - The Hong Kong stock market also reflected strong performance in the photovoltaic sector, with Jun Da shares rising over 15% and GCL-Poly Energy increasing by over 14% [3] - Other companies in the Hong Kong market, such as Kaisheng New Energy, also saw gains exceeding 7% [3]

Group 1 - The core point of the news is that JunDa Holdings (02865.HK) has seen a significant increase in its stock price, rising over 11% to reach HKD 41.36, with a trading volume of HKD 134 million [1] Group 2 - The stock price increase of JunDa Holdings is reported at 11.12% as of the time of the news release [1] - The trading volume for JunDa Holdings is noted to be HKD 1.34 billion [1]

消息面上，据知情人士透露，特斯拉正评估美国多个选址，计划扩大太阳能电池制造业务，目标在未来 三年内实现每年100吉瓦的太阳能制造能力。此外，马斯克近日在专访中强调，36个月内、甚至可能30 个月内，太空就会成为AI基建首选之地，且太阳能电池在太空的发电功率是地面的五倍。值得一提的 是，人民日报发文称太空光伏远期想象空间巨大，但目前仍处于探索和验证的初期阶段，同时也说明国 内光伏企业的优势和太空布局。 钧达股份（002865）(02865)涨超11%，截至发稿，涨11.12%，报41.36港元，成交额1.34亿港元。 国金证券指出，根据国家企业信用公示网显示，上海复遥星河控股股东变更为钧达股份、持股60%，法 定代表人变更为钧达股份副董事长郑洪伟。巡天千河为上海复遥星河下属全资子公司，是国内领先的卫 星整星企业。该行认为，钧达股份收购卫星公司积极搭建太空科技生态链、Starcloud提交8.8万颗算力 卫星计划，太空光伏短期情绪波动不改产业高速发展现实，重申坚定看好。 ...

Group 1 - JunDa Co., Ltd. (02865) saw its stock price increase by over 11%, reaching 41.36 HKD with a trading volume of 134 million HKD [1] - Tesla is evaluating multiple locations in the U.S. to expand its solar cell manufacturing business, aiming for an annual production capacity of 100 gigawatts within the next three years [1] - Elon Musk emphasized in a recent interview that space could become the preferred site for AI infrastructure within 30 to 36 months, with solar cells in space generating five times the power compared to those on Earth [1] Group 2 - The People's Daily highlighted the significant long-term potential of space photovoltaics, although it is currently in the exploratory and validation stages, indicating the advantages of domestic photovoltaic companies in space initiatives [1] - Guojin Securities reported that JunDa Co., Ltd. has acquired a controlling stake (60%) in Shanghai Fuyou Xinghe, with the legal representative now being JunDa's vice chairman Zheng Hongwei [1] - The subsidiary Xuntian Qianhe is recognized as a leading satellite company in China, and the acquisition is seen as a strategic move to build a space technology ecosystem [1]

港股商业航天概念股高开，钧达股份涨12.36%，亚太卫星涨3.21%。 ...