AIM(SZ:300446) Xin Hua Cai Jing·2025-12-19 10:45Core Viewpoint - The commercial aerospace sector in the A-share market is experiencing significant growth, driven by strong market interest, policy support, and technological advancements, indicating a robust development trajectory for China's commercial aerospace industry [1][3]. Group 1: Market Performance - The commercial aerospace index (886078) has shown a steady upward trend since December, reaching a peak of 2115.26 points, with a total trading volume of approximately 150 million yuan for the week, reflecting strong market interest [1]. - Aerospace Intelligence (300446) saw a single-day stock price increase of 16.30% on December 19, closing at 26.25 yuan, with a trading volume of 4.132 billion yuan, marking a new high since its listing and an annual increase of over 60% [1]. Group 2: Company Performance - Aerospace Intelligence reported a total revenue of 6.707 billion yuan for the third quarter of 2025, showing significant year-on-year growth, with a net profit of 651 million yuan, indicating improved profitability [2]. - The company’s quarterly revenue has shown consistent growth: 2.155 billion yuan in Q1, 2.008 billion yuan in Q2, and 2.543 billion yuan in Q3, with a gross profit margin around 18% [2]. - Aerospace Intelligence has established a business structure focusing on the domestic market while gradually expanding into overseas markets, with notable clients including major automotive manufacturers and oil companies [2]. Group 3: Industry Outlook - Analysts are optimistic about the commercial aerospace sector, noting a resonance period between state-owned and private enterprises, with core companies in the supply chain expected to benefit from industry growth [3]. - The Chinese government has emphasized the development of a global communication, navigation, and remote sensing infrastructure during the 14th Five-Year Plan, which supports the growth of the commercial aerospace sector [3]. - Continuous policy support is evident, with the establishment of a Commercial Aerospace Department and the release of a development action plan aimed at enhancing the industry's scale and safety by 2027 [3]. Group 4: Policy and Technological Developments - Recent optimizations in the Sci-Tech Innovation Board listing rules have provided capital support for commercial aerospace companies, leading to a surge in IPOs for key industry players [4]. - Significant technological breakthroughs have been achieved in the field of launch vehicles, with private companies like Zhongke Aerospace successfully launching multiple satellites and capturing over 60% market share in commercial rocket launch services [4][5].