Geovis(SH:688568) Xin Lang Cai Jing·2026-01-12 11:08Core Viewpoint - The stock price increase of Zhongke Xingtou (688568.SH) is not aligned with the actual performance of its commercial aerospace business, indicating a significant disconnect from the fundamentals [1] Group 1: Company Overview - Zhongke Xingtou has reported a significant focus on its commercial aerospace sector, which is one of the two emerging areas for business expansion, alongside low-altitude economy [1] - As of January to September 2025, revenue from the commercial aerospace segment accounted for 13.89% of the company's total operating income [1] Group 2: Market and Industry Risks - The development of the commercial aerospace industry heavily relies on core technologies such as reusable rockets, satellite constellation networking, and low-cost manufacturing, which are characterized by long cycles, high investment, and significant risks [1] - There is uncertainty regarding the pace of demand release in the commercial aerospace market, which adds to the investment risks [1]