顺灏股份：投资轨道辰光事项对公司2025年经营业绩影响较小

Core Viewpoint - The company, Shunhao Co., Ltd. (002565), has announced significant fluctuations in its stock trading, attributed to the recent surge in "commercial aerospace concept stocks" influenced by related policies and events in the commercial aerospace sector [1] Investment Details - On June 2025, the company invested 110 million yuan in Orbit Chuangguang, acquiring a 19.30% stake [1] - Orbit Chuangguang's primary business involves launching computing power satellites into dawn-dusk orbits to establish a space data center, providing computing power services to clients [1] Business Operations - The operational scope of Orbit Chuangguang includes integrated satellite technology applications, satellite navigation services, and manufacturing and sales of satellite mobile communication terminals [1] - The investment in Orbit Chuangguang does not have synergies with the company's existing business and is expected to have a minimal impact on the company's operating performance in 2025 [1] Market Context - The relevant industry is still in its early development stage, leading to significant uncertainty regarding future returns [1] - Orbit Chuangguang is currently a startup and has not yet achieved profitability, which may affect the company's financial results in the future [1]