纵横股份股价异动：政策利好与业绩改善预期共振

Core Viewpoint - The recent stock price fluctuations of Zongheng Co., Ltd. (688070.SH) are influenced by favorable low-altitude economic policies, improved profit expectations, technological breakthroughs, and active capital market conditions [1]. Industry Policy and Environment - On February 10, 2026, five departments jointly issued a document to promote low-altitude infrastructure construction, aiming for over 90% coverage of ground mobile communication networks along national low-altitude public flight routes by 2027, which boosts sentiment in the low-altitude economy sector [2]. - On the same day, Chengdu-based drone company Aosi Technology announced the completion of over 300 million yuan in Series D financing, further enhancing market attention on the low-altitude economic industry chain [2]. Performance and Operating Conditions - According to Huachuang Securities' report on February 12, 2026, Zongheng Co. is expected to achieve operating revenue of 618 million yuan in 2025, representing a year-on-year growth of 30.4%, with a net profit attributable to shareholders of approximately 10.42 million yuan, marking a turnaround to profitability [3]. - The company's stock incentive plan sets revenue targets of 580 million yuan and 700 million yuan for 2025 and 2026, respectively, and establishes revenue assessment indicators for new businesses such as unattended systems and large payload fixed-wing drones, reflecting confidence in performance growth [3]. Industry Position - As of January 27, 2026, Zongheng Co. ranks fourth in the global market capitalization of listed drone companies, being the only Chinese enterprise on the list [4]. - The company's large fixed-wing drone "Yunlong-1P" completed its maiden flight test in January 2026, with an effective payload capacity of 350 kilograms, enhancing market expectations for its application scenarios [4]. Capital and Technical Aspects - As of February 13, 2026, Zongheng Co. experienced a cumulative increase of 3.89% over five days, with an amplitude of 5.72% and a turnover rate of 2.00%. The stock price reached a peak of 62.00 yuan on February 13, breaking through the upper limit of recent volatility, and the MACD indicator turned positive, indicating a significant increase in short-term capital activity [5]. - Overall, the stock price fluctuations of Zongheng Co. result from the synergy of favorable low-altitude economic policies, improved profit expectations, technological breakthroughs, and active capital market conditions [5].