航天机电：股价异动提示风险

Core Viewpoint - The company has experienced significant stock price volatility, with a 60.83% cumulative increase over six trading days, indicating potential irrational speculation in the market [1] Financial Performance - For the first three quarters of 2025, the company's revenue was 2.652 billion yuan, representing a year-on-year decline of 36.10% [1] - The company reported a net loss of 247 million yuan, indicating an increase in losses compared to previous periods [1] Market Position - The company's price-to-book ratio and price-to-earnings ratio are both higher than the industry average, suggesting overvaluation in the current market context [1] Business Segments - The company primarily operates in the automotive thermal systems and photovoltaic industries, which are currently facing challenges [1] - The domestic photovoltaic power station operations may encounter financial strain, further complicating the company's outlook [1]