12月12日，商业航天概念持续拉升。截至发稿， 天力复合再度30%涨停，录得2连板。 超捷股份20%涨 停， 国瓷材料涨超15%。 再升科技、长城电工、航天长峰、四创电子、顺灏股份等超10股涨停。 | 代码 | 名称 | 涨幅 | 现价 | | --- | --- | --- | --- | | 920576 | 天力复合 | 30.00% | 60.84 | | 920961 | 创远信科 | 21.30% | 33.68 | | 301005 | 超捷股份 | 20.00% | 96.78 | | 300285 | 国祭材料 | 15.69% | 27.01 | | 688523 | 航天环宇 | 12.66% | 43.87 | | 300427 | 红相股份 | 10.53% | 14.69 | | 301306 | 面测测试 | 10.35% | 75.86 | | 603601 | 再升科技 | 10.05% | 8.43 | | 001208 | 华菱线缆 | 10.03% | 16.34 | | 600192 | 长城电工 | 10.01% | 9.78 | | GOUGHTS | 航天长峰 ...

Group 1 - The aviation engine sector is experiencing a rise, with significant stock price increases observed [1] - Antai Technology has reached its daily limit increase, indicating strong market interest [1] - Other companies such as Zhongchao Holdings, Chaojie Co., Morningstar Aviation, Parker New Materials, Huawu Co., Chengfei Integration, and Hangxin Technology have also seen stock price increases [1]

超捷股份 20251211 摘要 超杰股份商业航天配套产品单发火箭价值量约为 1,500 万元，未来有望 随产品线增加而提升。公司已拥有一条年产 18 发火箭结构电气结构件 的生产线，第二条生产线预计 2026 年二季度初完工，产能将提升至 28 发。 公司积极拓展商业航天市场，2025 年下半年以来与多家火箭公司深度 交流，已签订一家新客户订单，共 58 个订单，其中 38 个将于 2026 年 交付，预计 2026 年一季度起将陆续与更多新客户签订合同。 商业航天火箭舰体及零部件制造环节目前供不应求，竞争相对紧缺，人 才壁垒短期内难以改善。超杰股份凭借经验、技术和上市公司资源优势， 可随时扩充产能，应对市场需求。 火箭一级回收主要回收发动机，对整流罩无影响，二级可断装置和注箱 目前技术尚不能实现回收。可回收技术促进发射频率，维修成本客观存 在，不会显著影响超杰股份业务。 公司计划在上市公司层面实施新一期股权激励，将成都星越商业航天核 心团队纳入范围，并适时在子公司层面实施股权激励，加强团队绑定。 Q&A 超杰股份在商业航天领域的配套产品和客户情况如何？ 超杰股份在商业航天领域的产能和扩展规划是什么？ 目前 ...

格隆汇12月11日丨超捷股份(301005.SZ)在投资者关系中表示，有被问到: 目前公司在商业航天业务领域 配套的产品、客户以及价值量情况介绍。 目前市场上主流尺寸的一枚商业火箭成本中结构件占比在25%左右。今年已经陆续小批量交付客户产 品，按目前已经交付的产品来看，一枚火箭公司的结构件产品价值量约1500万。 答:商业航天业务领域广阔，目前业务主要为商业火箭箭体结构件制造，包括箭体大部段（壳段）、整 流罩、燃料贮箱、发动机阀门等。客户涵盖国内多家头部民营火箭公司。 ...

Core Viewpoint - The company is expanding its commercial aerospace rocket structural components business, with plans to complete a new production line by mid-2024, which will enable an annual output of 10 rockets [1] Production Capacity - The company will finish the construction of the riveting production line in the first half of 2024, which will have a capacity to produce 10 rockets per year, including components such as shell segments, fairings, and engine valves [1] - A second production line is already under construction, and the company is prepared to increase capacity based on order demand, with a construction cycle of approximately 4 months [1]

Core Viewpoint - The company anticipates significant growth in its commercial aerospace business revenue over the next 2-3 years, driven by increased market demand and operational improvements [1] Group 1: Business Outlook - The company has achieved stable small-batch deliveries of its products in the commercial aerospace sector by 2025, with initial signs of profitability [1] - As major clients finalize the technical specifications of their rocket models, the industry is expected to enter a phase of mass production, accelerating market demand [1] Group 2: Revenue and Profitability Projections - The company projects rapid growth in commercial aerospace-related business revenue in 2026, benefiting from enhanced production efficiency, scale effects, and improved process maturity [1] - Overall profitability is expected to improve further compared to 2025, as the company focuses on capacity and delivery capability development [1]

Commercial Aerospace - Aerospace Technology has successfully developed commercial aerospace clients such as Blue Arrow Aerospace and Tianbing Technology [1] - Unigroup Guowei's FPGA, refresh chips, memory, and bus interface products are being gradually introduced into the commercial aerospace sector [1] - Chaojie Co., Ltd. estimates that the value of structural components for a single rocket is approximately 15 million yuan, with rapid revenue growth expected in commercial aerospace-related businesses by 2026 [1] Chip Industry - Gree Electric's silicon carbide power chips have expanded from the home appliance sector to new energy, industrial, and special scenarios [1] - Yingtang Zhikong's storage chip business has significantly increased year-on-year due to industry demand [1] Nuclear Power - China Uranium Corporation has signed a long-term trade agreement with China Nuclear Power to supply natural uranium to its subsidiaries [1] Satellite Communication - Tianhe Defense's RF devices and chip products are applicable in the satellite communication field [1] 3D Printing - Changjiang Materials produces 3D printing sand used in 3D printed sand casting [1] Other Applications - Zhongtai Co., Ltd.'s cryogenic equipment and independently operated special gases have been applied in the aerospace sector [1] - Tongguang Cable's sales of high-temperature resistant cables for aerospace applications constitute a small proportion of total revenue [1] - Putian Technology's PCB products are partially applied in the commercial aerospace sector [1] - Kexiang Co., Ltd.'s PCB products are applicable in aerospace, with existing supply agreements [1] - Shaanxi Huada has long provided supporting products for the Long March series rockets [1] Power Cable and Server Products - Honglin Electric's subsidiary has achieved bulk shipments of high-speed copper cable connection products [2] - Guangdian Yuntong's subsidiary has integrated Moores Threads graphics cards into some server products [2] Retail and Supply Chain - Liangpinpuzi has implemented a "store dynamic replenishment decision dataset," effectively shortening procurement decision time [2]

Core Viewpoint - The company has achieved stable small-batch delivery of its commercial aerospace products by 2025 and has begun to generate slight profits, with expectations for significant market demand acceleration in the coming 2-3 years as major clients finalize rocket model technologies [1] Group 1: Business Performance - The company anticipates rapid growth in revenue from its commercial aerospace business in 2026, driven by increased production efficiency, scale effects, and improved process maturity compared to 2025 [1] - The company has formed a preliminary profit in its commercial aerospace segment, indicating a positive trend in financial performance [1] Group 2: Market Outlook - The overall industry is expected to enter a mass production phase as major clients complete the technical finalization of rocket models, which will significantly boost market demand [1] - The company aims to focus on capacity and delivery capability construction to seize market opportunities arising from the high growth in the commercial aerospace sector [1]

Group 1 - The core viewpoint of the article is that the company, Superjet Co., is actively expanding its customer base in the commercial aerospace sector and has made substantial progress in acquiring new client orders [1] Group 2 - The company has successfully secured orders from new clients in addition to its existing partnerships with several leading private rocket enterprises [1] - Given the rapid development of the industry and the company's pace of customer development, it is expected that new clients will enter into bulk cooperation starting from the first quarter of next year, leading to the signing of new orders [1]

| | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | 类别 | 新闻发布会 路演活动 | | | 现场参观 其他 电话会议 | | 参与单位名称及人员 | | | 姓名 | 详见附件：参与单位名称及人员名单 | | 时间 | 2025年12月11日 下午16:30-17:00 | | 地点 | 电话会议 | | 上市公司接待人员 | 1、公司董事会秘书、财务总监 李红涛 | | 姓名 | 2、公司证券事务代表 刘玉 | | | 1、目前公司在商业航天业务领域配套的产品、客户以及价 | | | 值量情况介绍。 | | | 商业航天业务领域广阔，目前业务主要为商业火箭箭体结构 | | | 件制造，包括箭体大部段（壳段）、整流罩、燃料贮箱、发动机 | | | 阀门等。客户涵盖国内多家头部民营火箭公司。 | | | 目前市场上主流尺寸的一枚商业火箭成本中结构件占比在 | | | 25%左右。今年已经陆续小批量交付客户产品，按目前已经交付 | | | 的产品来看，一枚火箭公司的结构件产品价值量约1,500万。 | | | 2、公司商业航天 ...