Core Insights - The report emphasizes the ongoing prosperity in the commercial aerospace and military sectors, highlighting opportunities in overseas markets and the importance of technological advancements in the industry [2][3] Group 1: Industry Overview - The commercial aerospace sector is experiencing upward momentum, driven by SpaceX's advancements in reusable rocket technology, which could reduce space access costs by 100 times [13] - The military aviation sector is expected to benefit from increased demand for large aircraft and military trade, with significant growth anticipated in 2026 [14] - The report identifies a focus on supply chain reforms and the integration of AI technologies as key trends shaping the future of the defense and aerospace industries [15] Group 2: Investment Recommendations - The report recommends companies that align with the "S-curve" evolution, focusing on supply chain reforms and automation, including firms like航发动力 (Aero Engine Corporation) and 中航沈飞 (AVIC Shenyang Aircraft Corporation) [15] - Companies positioned for expansion in military trade and civil aviation, such as 国睿科技 (Guorui Technology) and 中国动力 (China Power), are highlighted for their growth potential [15] - Emerging industries like commercial aerospace, AI, and quantum computing are also recommended, with firms like 睿创微纳 (Ruichuang Micro-Nano) and 菲利华 (Feilihua) noted for their innovative capabilities [15] Group 3: Company Valuations and Financial Analysis - 航发动力 (Aero Engine Corporation) is projected to have a 2025E EPS of 0.22 CNY, with a PE ratio of 216.82 for 2025 [6] - 中航高科 (AVIC High-tech) is expected to achieve a 2025E EPS of 0.90 CNY, with a PE ratio of 29.16 for 2025 [6] - The report provides detailed financial metrics for various companies, indicating growth in EPS and improvements in PE ratios across the sector, reflecting a positive outlook for the defense and aerospace industries [6]

南财智讯1月24日电，图南股份在投资者关系活动中表示，公司未来发展战略立足高温合金等先进金属 材料领域，致力于为航空航天、舰船、能源等高端装备制造领域提供高性能合金材料和制品；在产品及 市场端，将巩固现有主营业务，重点发展高端民品业务，力争形成以军品配套和高端民品稳定发展为基 础的产品结构，支撑高质量发展与投资者回报水平提升；同时坚持新技术新产品研发，不断拓宽产品 链，拓展国内外市场，目标建成具有自主知识产权和核心竞争力的高性能合金材料及其制品研发生产基 地。 ...

人民财讯1月24日电，图南股份（300855）披露投资者关系活动记录表，针对"近期镍价上涨对公司业绩 影响如何？"的提问，图南股份表示，公司产品的主要原材料为电解镍、金属钴、金属铬等金属材料， 其价格的波动对本行业原材料的采购价格具有较大影响。公司通过批量采购、合理安排采购时点等多种 措施应对原材料价格上涨的风险；另外，公司产品定价，主要采取产品成本加成方式，即以电解镍等金 属现货市场价格为基础，上浮一定比例的加工费，同时参考市场行情、客户的需求量、是否长期客户、 付款条件、战略合作等因素予以适当调整。目前，原材料价格波动未对公司业绩产生重大影响。 ...

（记者 王晓波） 每经头条（nbdtoutiao）——检查糖尿病却查出胰腺癌！仅凭百元CT揪出"癌症之王"，医生没看出来的 病，AI是怎么发现的？ 每经AI快讯，图南股份发布公告称，2026年1月23日，图南股份接受新华资产等投资者调研，公司董事 会秘书何剑参与接待，并回答了投资者提出的问题。 ...

Group 1: Impact of Nickel Price - The recent rise in nickel prices has not significantly impacted the company's performance due to effective procurement strategies and pricing adjustments [1] - The company uses a cost-plus pricing model based on the spot market prices of electrolytic nickel and other metals, with adjustments for market conditions and customer factors [1] Group 2: Product Types and Applications - The company produces small and medium-sized components, including special structural parts, standard fasteners, high-strength fasteners, seals, and actuators, primarily for the aerospace sector [1] - There is potential for expansion into high-end equipment manufacturing in fields such as gas turbines, high-speed rail, marine, and petrochemicals [2] Group 3: Future Development Strategy - The company aims to consolidate its existing main business products while focusing on the development of high-end civilian products [2] - Future goals include establishing a product structure based on military and high-end civilian product support to ensure sustainable high-quality development and increased investor returns [2] - The company is committed to advancing in the high-temperature alloy and advanced metal materials industry, targeting high-performance alloy materials and products for aerospace, naval, and energy sectors [2]

南财智讯1月23日电，图南股份在投资者关系活动中表示，公司未来将基于现有核心竞争优势，巩固主 营业务产品，重点发展高端民品业务，力争形成军品配套与高端民品协同发展的产品结构。公司将继续 专注于高温合金等先进金属材料的研发与生产，为航空航天、舰船、能源等高端装备制造领域提供高性 能材料和制品，不断拓宽产品链，拓展国内外市场，提升持续盈利能力与投资者回报水平。 ...

南财智讯1月23日电，图南股份在投资者关系活动中表示，公司全资子公司图南部件"航空用中小零部件 自动化加工产线建设项目"已建成投产，形成年产各类航空用中小零部件50万件（套）的加工生产能 力；图南智能"年产1,000万件航空用中小零部件自动化产线建设项目"主要建设内容已完成，具备年度 生产交付能力。目前两条产线均处于产能爬坡阶段，子公司正根据在手订单加快推进生产交付和收入确 认工作。 ...

证券代码：300855 证券简称：图南股份 江苏图南合金股份有限公司投资者关系活动记录表 编号：[2026]第 001 号 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活动 | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | □√其他 （反路演活动） | | 参与单位名称及 | 中邮保险资管：张晋、李柯宏；招商信诺：柴若琪、刘延波、赵 | | | 若琼、陈江威、郁琦；建信养老：臧赢舜；人保养老：江军、于 | | 人员姓名 | 文博、孙楠；国投证券：杨雨南、姜瀚成 | | 时间 | 2026 年 1 月 22 日 | | 地点 | 北京 | | 上市公司接待人 | 董事会秘书：何剑 | | 员姓名 | | | | 公司董事会秘书与投资者进行了交流，就投资者关心的问题 | | | 进行解答，具体如下： | | | 1、公司全资子公司图南部件、图南智能中小零部件自动化 | | | 产线项目建设实施进展如何？ | | | 目前，图南部件"航空用中小零部件自动化加工产线建设项 | | | 目"已建成投产，项目已形成年产各类 ...

Core Viewpoint - The article emphasizes that "rocket body stainless steel + engine high-temperature alloy" is evolving into a new generation of rocket material systems, driven by the commercialization and reusability of space launches [1][7]. Group 1: Investment Opportunities in New Materials - The rapid development of commercial space is driving the demand for aerospace stainless steel and high-temperature alloy materials [2]. - Stainless steel is becoming the primary choice for rocket bodies in reusable rockets due to its low cost, high-temperature resistance, and ease of processing [4][12]. - High-temperature alloys are essential for the hot-end components of liquid rocket engines, with an average usage of 28% in liquid rocket engines [5][19]. Group 2: Historical Context and Current Trends - Historically, aluminum alloys dominated rocket materials, with limited applications for stainless steel and high-temperature alloys [3]. - Currently, the rocket material system is transitioning from aluminum-dominated to a combination of stainless steel and high-temperature alloys, particularly in reusable rocket designs [4][11]. Group 3: Future Outlook - In the future, aerospace stainless steel and high-temperature alloys are expected to be key materials for rocket technology evolution, providing advantages in extreme temperature environments and manufacturing speed [6][8]. - The demand for large low-orbit satellite constellations is anticipated to drive the scale of rocket launches, enhancing the growth prospects for stainless steel and high-temperature alloys [47]. Group 4: Supply Chain and Market Dynamics - The supply of aerospace stainless steel is highly segmented and customized, with early movers and validated companies likely to experience structural growth opportunities [8]. - High-temperature alloy suppliers face high barriers to entry, resulting in a favorable competitive landscape [8][21].

证券日报网讯 1月22日，图南股份在互动平台回答投资者提问时表示，目前，公司高温合金、特种不锈 钢等高性能合金材料及其制品主要应用于航空发动机、燃气轮机、石油化工等领域，并以航空领域应用 居多。公司部分高温合金、特种不锈钢产品应用于火电及核电领域。 （编辑 丛可心） ...