11月20日，航天智装涨2.53%，成交额16.54亿元。两融数据显示，当日航天智装获融资买入额1.71亿 元，融资偿还1.68亿元，融资净买入309.32万元。截至11月20日，航天智装融资融券余额合计6.17亿 元。 融资方面，航天智装当日融资买入1.71亿元。当前融资余额6.14亿元，占流通市值的3.30%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，航天智装11月20日融券偿还0.00股，融券卖出300.00股，按当日收盘价计算，卖出金额 7770.00元；融券余量9.03万股，融券余额233.88万元，超过近一年90%分位水平，处于高位。 资料显示，北京航天神舟智能装备科技股份有限公司位于北京市海淀区中关村南三街16号院1号楼2层， 成立日期2007年9月4日，上市日期2015年5月15日，公司主营业务涉及铁路车辆运行安全检测及检修系 统、智能测试仿真系统和微系统与控制部组件、核工业及特殊环境自动化装备。主营业务收入构成为： 核工业及特殊环境智能装备系统51.56%，智能测试仿真系统和微系统与控制部组件30.33%，铁路车辆 运行安全检测及检修系统22.84%。 截至9月30日，航天智 ...

Core Viewpoint - The commercial aerospace sector experienced notable fluctuations, with Shanghai Port Bay reaching its daily limit increase, following a similar surge in Aerospace Power. Other companies such as Shanghai Huguang, Chaojie Co., Srei New Materials, Aerospace Intelligent Equipment, and Qianzhao Optoelectronics also saw significant gains [1] Group 1 - Shanghai Port Bay hit the daily limit increase, indicating strong investor interest in the commercial aerospace sector [1] - Aerospace Power also reached its daily limit increase, suggesting a positive trend in the industry [1] - Other companies in the sector, including Shanghai Huguang, Chaojie Co., Srei New Materials, Aerospace Intelligent Equipment, and Qianzhao Optoelectronics, experienced follow-up gains, reflecting a broader market enthusiasm [1]

每经AI快讯，11月18日，卫星导航指数盘中跌超2%，成分股多数下跌。其中，航天智装下跌8.16%，上 海沪工下跌7.36%，晨曦航空下跌6.77%，航天环宇下跌5.60%，星网宇达下跌5.24%。 （文章来源：每日经济新闻） ...

Investment Rating - The report maintains a positive outlook on the defense and military industry, indicating an "Overweight" rating for the sector, suggesting it will outperform the overall market [23]. Core Insights - The military industry is entering an upward cycle as per the "14th Five-Year Plan" recommendations, with expectations of performance recovery in Q4 2025, driven by increased military trade and order fulfillment [3][4]. - The report highlights that the military trade landscape is evolving due to rising global geopolitical uncertainties, leading to increased demand for military products, particularly in the Middle East and Asia [3]. - Key investment opportunities are identified in next-generation equipment, unmanned/anti-unmanned weapons, and information/intelligent systems, with a focus on companies that are expected to benefit from these trends [3]. Market Review - Last week, the Shenwan Defense and Military Index fell by 2.15%, while the CSI Military Leaders Index decreased by 1.53%. In comparison, the Shanghai Composite Index dropped by 0.18% and the CSI 300 by 1.08% [4][11]. - The report notes that the defense and military sector's performance ranked 27th among 31 Shenwan primary industries, indicating a relatively poor performance compared to other sectors [4]. - The report lists the top five gainers in the defense sector: Tian'ao Electronics (up 12.63%), Aerospace Development (up 8.54%), *ST Dali (up 7.1%), Aerospace Intelligence Equipment (up 5.72%), and 712 (up 4.21%) [11][12]. Valuation Changes - The current PE-TTM for the Shenwan military sector is 76.94, placing it in the upper range historically, with a valuation percentile of 65.32% since January 2014 and 91.95% since January 2019 [12][13]. - The report indicates a slight differentiation in valuations among sub-sectors, with aerospace and aviation equipment showing relatively high PE valuations since 2020 [12][13].

（文章来源：证券时报网） 数据宝统计，截至14:01，航天智装成交额29.54亿元，创上市以来新高。最新股价上涨2.76%，换手率 14.63%。上一交易日该股全天成交额为21.32亿元。（数据宝） ...

格隆汇11月13日｜A股市场存储芯片股继续集体走强，其中，佰维存储涨超14%，兆易创新涨超8%，诚 邦股份涨超7%，航天智装涨超6%，聚辰股份、同有科技、科翔股份涨超5%，江波龙、北京君正、雅克 科技、中电港涨超4%。 消息面上，韩国媒体称，三星、SK海力士、铠侠、美光这四大存储龙头今年下半年都纷纷削减NAND闪 存供应量。同时，三星电子、SK海力士和铠侠等正在谋划推动NAND价格上调。其中，三星目前正与海 外大型客户讨论明年的供货量，并在内部考虑将价格上调20%至30%以上。 | | | | | 存储芯片板块个股 | | | | --- | --- | --- | --- | --- | --- | --- | | 序号 | 代码 | 名称 | 0 | 涨幅%↓ | 总市值 | 年初至今涨幅%。 | | 1 | 688525 | 佰维存储 | 1 | 14.21 | 672亿 | 132.35 | | റ | 603986 | 兆易创新 | 1 | 8.93 | 1523亿 | 114.28 | | 3 | 603316 | 诚邦股份 | 豪 | 7.31 | 44.61亿 | 259.15 | | 4 | ...

Group 1: Company Announcements - Zhejiang Dongri clarifies that it is not involved in "brain-computer interface" business [1] - Sanyuan Co. introduces seasonal product "milk candy hawthorn," which has a minimal revenue contribution [1] - Century Huatong plans to repurchase shares worth between 500 million to 1 billion [1] Group 2: Project Investments - Yongrong Co. intends to establish a subsidiary to build a 100 MW photovoltaic power station [1] - Weigao Medical plans to invest in a production base for all-cotton water-jet non-woven fabric [1] - Fuchun Environmental plans to invest in a combined heat and power project in Yicheng, Hubei [1] - Haibo Co. aims to invest in high-end components for flywheel energy storage [1] Group 3: Contract Awards - Longjian Co. wins a construction project worth 483 million [1] - Zhejiang Jiaoke is part of a consortium that aims to win a new urbanization project along the Fuchun River [1] - Dash Smart wins the intelligent project for the new Hong Kong Port inspection building [1] Group 4: Equity Transfers - Aerospace Intelligent Equipment plans to transfer 100% equity of its wholly-owned subsidiary Hangzhou Xuanyu [1] Group 5: Shareholding Changes - Aoxing Packaging's controlling shareholder plans to reduce holdings by up to 1.91% [2] - Aipeng Medical's Zhang Hong selected No. 1 intends to reduce holdings by up to 2% [2] - Ruimaite's senior executive Chen Bei plans to reduce holdings by up to 1.76% [3] - Changlian Co.'s director and general manager Xu Feng plans to reduce holdings by up to 206,520 shares [3] Group 6: Other Notable Events - Peking University Pharmaceutical's chairman and president Xu Xiren has been arrested on criminal charges [3] - Haibo Co. signs a strategic cooperation agreement with CATL, committing to procure no less than 200 GWh of electricity over the next three years [3]

Market Overview - On November 12, the trading volume of the Shanghai and Shenzhen stock markets reached 1.95 trillion yuan, a decrease of 48.6 billion yuan compared to the previous trading day [1] - Sectors that saw significant gains included insurance, pharmaceuticals, oil and gas, and brain-computer interfaces, while sectors that experienced declines included cultivated diamonds, photovoltaics, BC batteries, wind power equipment, and controllable nuclear fusion [1] Stock Performance - Notable stocks with significant gains included: - HeFu China (+10.02%, 20.09 yuan) with a focus on cross-strait medical and in vitro diagnostics, achieving 12 days of 11 consecutive gains [2] - Moen Electric (+10.04%, 13.81 yuan) related to grid equipment and production bases in Thailand, achieving 7 consecutive gains [2] - FuRi Co. (+10.02%, 9.55 yuan) involved in electrolyte additives and coating materials, achieving 5 consecutive gains [2] - Other stocks with notable performance included: - Dongbai Group (+10.05%, 60.6 yuan) and Sanmu Group (+10.05%, 6.57 yuan) with 6 days and 4 days of consecutive gains respectively [3] Trading Dynamics - The top three net buying stocks on the day were: - Aerospace Intelligent Equipment (+16.57%, 27.15 yuan) with a net buying amount of 1.84 billion yuan [5] - Chang Aluminum (+7.21%, 6.54 yuan) with a net buying amount of 1.34 billion yuan [5] - Material Xiang Co. (+19.98%, 21.14 yuan) with a net buying amount of 971.18 million yuan [5] - The top three net selling stocks were: - Hailu Heavy Industry (-9.64%, 12.47 yuan) with a net selling amount of 1.77 billion yuan [6] - Yunhan Chip City (+1.93%, 185.51 yuan) with a net selling amount of 1.25 billion yuan [6] - Te Yi Pharmaceutical (+5.09%, 13.41 yuan) with a net selling amount of 1.04 billion yuan [6] Sector Insights - Aerospace Intelligent Equipment is capitalizing on commercial aerospace opportunities, promoting ground simulation equipment and micro-systems, and expanding its commercial aerospace user base [11] - Chang Aluminum has established a complete aluminum processing industry chain, gaining recognition from major clients in the new energy battery shell and automotive heat exchange materials [14] - KeXiang Co. is focusing on storage chips and PCB technology, with significant advancements in AI server applications and 800G optical modules [18]

2024年1至12月份，航天智装的营业收入构成为：计算机和通信和其他电子设备制造业占比100.0%。 （记者 曾健辉） 截至发稿，航天智装市值为195亿元。 每经AI快讯，航天智装（SZ 300455，收盘价：27.15元）11月12日晚间发布公告称，公司2025年第二次 董事会临时会议于2025年11月12日在公司会议室以通讯方式召开。会议审议了《关于公开挂牌转让全资 子公司航天轩宇（杭州）智能科技有限公司100%股权的议案》等文件。 每经头条（nbdtoutiao）——谁在替王家卫写《繁花》？揭秘影视剧本层层转包"枪手链" ...

航天轩宇（杭州）智能科技有限公司 审计报告及财务报表 2024 年度、2025 年 1-7 月 信会师报字[2025]第 ZG12801 号 航天轩宇（杭州）智能科技有限公司 审计报告及财务报表 （2024 年 01 月 01 日至 2025 年 07 月 31 日止） | | 目录 | 页次 | | --- | --- | --- | | 一、 | 审计报告 | 1-3 | | 二、 | 财务报表 | | | | 资产负债表 | 1-2 | | | 利润表 | 3 | | | 现金流量表 | 4 | | | 所有者权益变动表 | 5-6 | | | 财务报表附注 | 1-48 | 审计报告 信会师报字[2025]第 ZG12801 号 航天轩宇（杭州）智能科技有限公司： 一、 审计意见 我们审计了航天轩宇（杭州）智能科技有限公司（以下简称杭州 智能）财务报表，包括 2024 年 12 月 31 日、2025 年 7 月 31 日的资 产负债表，2024 年度、2025 年 1-7 月的利润表、现金流量表、所有 者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的 规定 ...