顺灏股份：轨道辰光的主要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

Core Viewpoint - Shunhao Co., Ltd. announced abnormal stock price fluctuations due to a cumulative increase of over 20% in closing prices over two consecutive trading days, while confirming that its operational situation remains normal and unchanged [1] Company Summary - In June 2025, the company invested 110 million RMB in Beijing Rail Transit Technology Co., Ltd. (referred to as "Rail Transit"), acquiring a 19.30% stake [1] - Rail Transit focuses on launching computing power satellites into dawn-dusk orbits to establish space data centers, providing computing power services [1] - The business scope of Rail Transit includes satellite technology integration, satellite navigation services, and manufacturing and sales of satellite mobile communication terminals [1] Industry Summary - The existing business of the company does not have synergies with Rail Transit’s operations [1] - Rail Transit’s business is influenced by macroeconomic factors, industry policies, and market environment changes, with risks related to long industrialization and commercialization cycles [1] - Rail Transit’s "Tianshu Tiansuan" business may have clear commercial value within the next five years, while the "Dizhu Tiansuan" business could gradually gain competitive advantages against ground data centers in the next 5-10 years [1]