中科星图股份有限公司关于股票交易异常波动的公告

Core Viewpoint - The stock of Zhongke Xingtou Co., Ltd. has experienced abnormal trading fluctuations, with a cumulative closing price increase of 30% over three consecutive trading days, prompting regulatory scrutiny [2][4]. Group 1: Stock Trading Abnormalities - The company's stock price increased by 94.42% since November 27, 2025, while the Shanghai Composite Index rose only 7.48%, indicating a significant divergence from market trends [2][11]. - As of January 12, 2026, the stock closed at 79.09 yuan per share, at a historical high, with a trading volume of 36.10 billion yuan, suggesting high market activity [2][11]. Group 2: Company Operations and Major Events - The company confirmed that its production and operational activities are normal, with no significant changes in the market environment or industry policies [6][5]. - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance, which will be executed in compliance with relevant regulations [7][10]. Group 3: Valuation Risks - The company's rolling price-to-earnings (P/E) ratio is 181.31, and the price-to-book (P/B) ratio is 16.53, significantly higher than the industry averages of 51.48 and 4.14, respectively [3][11]. - The commercial aerospace segment accounted for 13.89% of total revenue from January to September 2025, but the stock price increase does not align with the actual performance of this segment, indicating a potential disconnect from fundamentals [3][11]. Group 4: Market Sentiment and Industry Challenges - The commercial aerospace industry is characterized by high investment, long development cycles, and significant risks, with uncertain demand release patterns [3][12]. - The company has noted increased market interest in its commercial aerospace business, but this sector faces multiple challenges that could impact future performance [8][12].