航天发展：股价异常波动，控股股东拟继续减持股份

Core Viewpoint - The company has experienced significant stock price volatility, with a cumulative decline of over 20% in closing prices over three consecutive trading days from January 13 to January 15, 2026, indicating abnormal fluctuations [1] Financial Performance - For the first three quarters of 2025, the company reported revenue of 1.697 billion yuan, attributed to an increase in ship deliveries, while net profit was a loss of 489 million yuan [1] - The revenue contribution from the subsidiary, Aerospace Tianmu (Chongqing) Satellite Technology Co., Ltd., was less than 1% [1] Shareholder Activity - The actual controller has not engaged in buying or selling the company's stock, while the controlling shareholder has reduced their holdings by 12.2609 million shares, leaving 7.3076 million shares remaining, with plans for further reduction at an opportune time [1] Market Position - The company highlights a significant disparity between its price-to-earnings ratio and that of the industry, as well as risks associated with stock price deviations from fundamental values [1]