中国基金报·2026-01-13 16:18Core Viewpoint - The article discusses regulatory warnings issued by the Shanghai Stock Exchange to two companies, Electric Science Digital (600850) and Hangxiao Steel Structure (600477), for inadequate risk disclosures related to the "commercial aerospace" sector, which has seen significant market interest and volatility this year [1][3][8]. Group 1: Electric Science Digital - Electric Science Digital received a regulatory warning for providing inaccurate and incomplete information regarding its involvement in commercial aerospace and AI businesses, which misled investors [3][5]. - Following the release of information about its satellite internet products, the company's stock price rose by 19.37% until January 12, 2026, but later disclosures revealed that its satellite communication products had only about 390,000 yuan in orders for the entire year, representing less than 0.1% of total business [3][5]. - The company was required to issue a risk warning on January 13, 2026, indicating that its AI products were still in small-scale delivery and had not yet achieved significant sales, with future development remaining uncertain [3][5]. Group 2: Hangxiao Steel Structure - Hangxiao Steel Structure also received a regulatory warning for misleading information regarding its role in a joint project for a large liquid rocket assembly and recovery base, with a contract value of approximately 2.53 billion yuan [9][10]. - The company’s stock experienced multiple consecutive trading halts following the announcement, but subsequent disclosures clarified that the contract amount was less than 1% of its audited revenue for 2024, indicating minimal impact on overall performance [9][10]. - On January 13, 2026, the company acknowledged media reports linking it to the "commercial aerospace" sector, stating that it does not engage in such business [11][13].