9月16日，豪能股份（维权）盘中上涨2.06%，截至10:10，报15.35元/股，成交2.65亿元，换手率 2.03%，总市值131.99亿元。 豪能股份所属申万行业为：汽车-汽车零部件-底盘与发动机系统。所属概念板块包括：成飞概念、大飞 机、商业航天（航天航空）、航天军工、铁路基建等。 截至6月30日，豪能股份股东户数3.67万，较上期减少9.56%；人均流通股23410股，较上期增加 48.28%。2025年1月-6月，豪能股份实现营业收入12.53亿元，同比增长10.30%；归母净利润1.84亿元， 同比增长13.45%。 分红方面，豪能股份A股上市后累计派现6.26亿元。近三年，累计派现2.78亿元。 机构持仓方面，截止2025年6月30日，豪能股份十大流通股东中，永赢先进制造智选混合发起A （018124）位居第四大流通股东，持股3013.83万股，为新进股东。鹏华碳中和主题混合A（016530）位 居第九大流通股东，持股2008.83万股，为新进股东。 责任编辑：小浪快报 资金流向方面，主力资金净流出2531.07万元，特大单买入1092.28万元，占比4.12%，卖出1659.88万 元，占比 ...

Core Viewpoint - The commercial aerospace industry is becoming a key area of global technological competition, with increasing scarcity of low-orbit satellite frequency resources and intensified global competition [1][5]. Policy and Market Dynamics - Continuous strengthening of top-level design in commercial aerospace, with policies driving innovation potential; commercial aerospace was highlighted as a key development industry in the 2023 Central Economic Work Conference, and it was included in the government work report for 2024 [2]. - The China Securities Regulatory Commission included commercial aerospace in the fifth set of listing standards for the Sci-Tech Innovation Board in June 2025, and the Ministry of Industry and Information Technology issued satellite mobile communication business licenses to China Unicom, further opening application scenarios [2]. Industry Chain Development - The commercial aerospace industry chain is rapidly improving, driven by both supply and demand; China has a complete industry chain from satellite manufacturing to rocket launching and terminal operations [3]. - The global commercial aerospace market has reached $480 billion, with significant market shares in positioning navigation, ground stations, satellite TV, and satellite communications; China's investment in commercial aerospace is expected to account for 24% of global investment in 2024 [3]. Demand and Technological Advancements - The demand for satellite constellation networking is surging, with multiple constellations accelerating large-scale networking, presenting new opportunities for industry development; China Star Network launched its 10th group of satellite internet satellites [4]. - The "Long March" series rockets are the main force, with private companies like Zhongke Aerospace and Blue Arrow Aerospace expected to become significant contributors to launch capacity [4]. - New technologies such as reusable rockets and large liquid rockets are enhancing launch frequency and capacity, with several private companies entering the first flight stage for reusable rockets [4]. Investment Opportunities - The commercial aerospace sector is viewed as a global competitive high ground, with a focus on low-cost, high-reliability, and large-scale development; investment opportunities are seen in rocket manufacturing, satellite payloads, and new infrastructure [5]. - Sectors benefiting from the scaling of applications include satellite communications, navigation, remote sensing, and space tourism, while new technologies like reusable rockets and liquid rockets are expected to drive down overall costs [5].

记者注意到，9月以来新股发行有所提速。根据时间安排，本周将有联合动力、锦华新材、建发致新 （301584）、瑞立科密（001285）、云汉芯城（301563）等5只新股发行，这意味着单周有5只新股发 行，而今年仅有3月10日当周出现过单周5只新股发行的案例。 【深圳商报讯】（记者 陈燕青）随着上周昊创瑞通（301668）等3家IPO公司完成发行，今年以来A股 IPO募资额已超过去年全年。根据统计，截至9月14日，按照网上发行日计算，今年以来已有68家新股 完成发行，合计募资额达677.4亿元。 去年全年，共有102家新股完成发行，合计募资662.8亿元。也就是说，今年至今IPO募资额已超去年全 年。 IPO募资额超过去年全年，得益于今年有几个募资额较高的新股。其中，华电新能（600930）IPO募资 额高达181.7亿元，位居榜首。紧随其后的是中策橡胶（603049）、天有为（603202），募资额分别为 40.7亿元和37.4亿元。此外，联合动力（301656）、屹唐股份、友升股份（603418）募资额超过20亿 元。 近日，中国电建（601669）旗下电建新能沪市主板IPO申请获受理，公司拟募资90亿元， ...

Core Viewpoint - The commercial aerospace industry is experiencing significant growth driven by policy support, technological innovation, and increasing demand for satellite networking, leading to low-cost, high-reliability, and large-scale development opportunities [1][2][4]. Group 1: Policy and Market Dynamics - The central economic work conference in 2023 identified commercial aerospace as a key development industry, with continuous policy support enhancing innovation potential [1]. - In 2024, commercial aerospace was included in the government work report for the first time, and in 2025, the China Securities Regulatory Commission included it in the fifth set of listing standards for the Sci-Tech Innovation Board [1]. - The global commercial aerospace market has reached a scale of $480 billion, with China's investment in this sector expected to account for 24% of global financing in 2024 [2]. Group 2: Industry Chain Development - China has established a complete commercial aerospace industry chain, from satellite manufacturing to rocket launching and terminal operations, facilitating large-scale development [2]. - The overall scale of China's commercial aerospace industry is projected to exceed 2.5 trillion yuan by 2025, driven by the emergence of private aerospace companies [2]. Group 3: Satellite Networking and Technological Advancements - There is a surge in demand for satellite constellations, with significant progress in the deployment of low-orbit satellites, including the launch of multiple satellite groups by China [3]. - The Long March series rockets remain the primary launch vehicles, with private companies like Zhongke Aerospace and Blue Arrow Aerospace expected to contribute to increased launch capacity [3]. - New technologies such as reusable rockets and large liquid rockets are enhancing launch frequency and capacity, with several private companies entering the initial flight phase for these technologies [3]. Group 4: Investment Recommendations - The commercial aerospace sector is seen as a critical area for global technological competition, with opportunities arising from the large-scale deployment of satellite constellations and advancements in reusable rocket technology [4]. - Recommended investment areas include rocket manufacturing, satellite payloads, satellite communication, navigation, remote sensing, and space tourism, which are expected to benefit from the industry's scaling applications [4].

央视网消息9月12日，海南省2025年离岸人民币地方政府债券在香港完成簿记定价并发行，发行规模50亿元人民 币。其中，3年期可持续发展债券25亿元，定价利率1.73%；5年期蓝色债券15亿元，定价利率1.83%；10年期航天 主题债券10亿元，定价利率2.1%。债券将在香港联合交易所挂牌上市。 本次债券发行遵循国际市场规则，获得了投资者的普遍关注，吸引了欧洲、亚洲等地区的多元投资机构参与，类 型包括商业银行、投资银行、券商、基金和资产管理公司等；峰值订单规模近230亿元，体现了国际资本市场对海 南自贸港信用实力以及发展前景的认可和信心。 这是海南省第四次在香港发行离岸人民币地方政府债券，募集资金主要投向海洋保护、民生保障以及航天领域相 关重点科研和基础设施项目，将继续使用海南自贸港多功能自由贸易账户（EF账户）进行债券资金交收。 近年来，海南不断加快航天产业布局，多个相关项目推进落地，"向天图强"成绩单愈发厚实。据悉，今年发行的 10年期债券为中国地方政府首单航天主题债券，将有利于推动商业航天事业发展，同时也为国际投资者提供了优 质的投资选择。（总台记者 杨涛 徐舒扬） 来源：央视网 ...

Company Overview - Chaojie Co., Ltd. is located in Jiading District, Shanghai, and was established on December 28, 2001. The company was listed on June 1, 2021. Its main business involves the research, production, and sales of metal and plastic fasteners, as well as aerospace components [1][2]. Financial Performance - For the first half of 2025, Chaojie Co., Ltd. achieved operating revenue of 391 million yuan, representing a year-on-year growth of 36.80%. The net profit attributable to the parent company was 21.73 million yuan, an increase of 21.86% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 97.28 million yuan in dividends, with 43.01 million yuan distributed over the past three years [3]. Stock Performance - As of September 15, the stock price of Chaojie Co., Ltd. was 46.93 yuan per share, with a market capitalization of 6.30 billion yuan. The stock has increased by 60.71% year-to-date, but has seen a decline of 5.82% over the last five trading days and 11.62% over the last twenty days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on August 11, where it recorded a net purchase of 128 million yuan [1]. Shareholder Information - As of August 31, the number of shareholders for Chaojie Co., Ltd. was 23,500, an increase of 14.81% from the previous period. The average number of circulating shares per shareholder was 5,634, a decrease of 12.90% [2]. - Among the top ten circulating shareholders, Huaxia Industry Prosperity Mixed Fund (003567) is the fourth largest, holding 1.53 million shares, which is an increase of 170,000 shares from the previous period [3]. Industry Classification - Chaojie Co., Ltd. belongs to the automotive industry, specifically in the automotive parts sector, and is associated with concepts such as general aviation, small-cap stocks, aerospace and military, large aircraft, and commercial aerospace [2].

文 | 邬少娟 唐学菲 九天之际，安放安属？隅隈多有，谁知其数？ ——屈原《天问》 "是无中生有吗？" 在本地人看来，外界对于蚌埠"商业航天"产业凭空而起的形容，多半是一种"误读"。 "为什么马斯克的SpaceX，能用不锈钢造火箭，还想尽办法去进行回收？控制成本是商业化的基础核 心，在这一点上我们与蚌埠有高度共识。"落户蚌埠商业航天科技产业园的深蓝航天工程师们觉得这座 城市和商业航天——"很对味"。 截至目前，蚌埠商业航天产业链相关企业数量已达30余家，其中规模以上企业3家，高新技术企业2家， 2025年计划新增规模以上企业不少于3家。据公开数据显示，2024年，蚌埠商业航天产业产值实现1.23 亿元；2025年1-6月，产值同比增长高达119.6%，预计今年全年该产业产值将超过4.3亿元。 图 片来源：蚌埠市委宣传部 从京津冀到西部地区，从长三角到大湾区，在国策的引导下，全国主要城市带都在聚焦发展商业航天， 产业集群正在加速形成。安徽蚌埠，这座淮畔的"珠城"，只是众多积极参与商业航天的竞逐者之一。 无论是规划者、建设者、见证者，在界面安徽的产业观察中，对于蚌埠这座城市的工业底蕴与商业航天 的关系，几乎每个人 ...

外围市场呢，美股不断创新高，尤其是半导体板块表现亮眼，这对A股能起到一定的支撑作用。不过，9月18日美联储有议息会议，市场预期降息25个基点 概率超90%，要是真降息了，科技成长股会受益；可要是降息幅度不及预期，那全球资金可能会回流美元资产，A股就会跟着波动。 最近A股市场的动静可不小，好多朋友都在问我接下来行情会怎么走，手里的股票该怎么操作 。别着急，今天就给大家好好分析一下9月15日A股的走势， 从消息面、政策面、技术面、资金流向、市场情绪以及外围市场这几个关键角度，给大家理清楚，顺便也讲讲应对策略。 先看看消息面，周末各种消息乱飞。商务部对美进口模拟芯片发起反倾销调查，这对咱们国内的模拟芯片企业来说，说不定是个发展的好机会；国家规划 2027年新型储能装机达1.8亿千瓦，带动直接投资约2500亿元，储能板块估计要热闹起来；八部门推动智能网联汽车应用，加快L3级车型准入试点及北斗规 模化应用，无人驾驶概念可能会有表现机会 ；财政支持消费品以旧换新，已投入4200亿元带动销售额超2.9万亿元，这对零售行业是个积极信号；AI推动存 储需求，美光暂停报价并计划涨价20%-30%，汽车类涨70%，存储芯片板块值得 ...

Investment Rating - The report maintains an "Overweight" rating for the defense and military industry [3] Core Views - The defense and military industry is currently in a stabilization phase after a significant correction, with expectations of a structural rotation within the sector driven by improving fundamentals and active themes [1][2] - The long-term logic of the industry remains solid, driven by the strategic goal of building a world-class military by 2049, which underpins the industry's growth trajectory [2] Summary by Sections Recent Industry Analysis - The defense and military index experienced a weekly increase of 1.84%, ranking 14th out of 31 sectors, indicating a recovery following a prior downturn [1] - The total trading volume for the military sector was 288.6 billion yuan, down 32.99% from the previous week, reflecting a decrease in trading activity [1] - The market is expected to enter a stable phase in the short term, supported by the release of mid-year performance reports and the anticipation of new orders as the "14th Five-Year Plan" concludes [2] Investment Trends and Directions - The military industry is in a favorable economic cycle, with a projected "V" recovery as the "14th Five-Year Plan" progresses and the "15th Five-Year Plan" becomes clearer [10] - Key investment opportunities include unmanned equipment, military intelligence, satellite internet, and electronic countermeasures, as well as sectors combining military and civilian applications such as low-altitude economy and commercial aerospace [10] Company Performance Overview - In the first half of 2025, military listed companies reported total revenues of 440.55 billion yuan, an increase of 8.43%, and a net profit of 21.42 billion yuan, up 5.11% [40] - The aerospace sector showed signs of recovery, with significant orders contributing to revenue growth, while the shipbuilding sector is experiencing a favorable upcycle [8][9] Notable Events and Announcements - Recent significant contracts and orders have been disclosed, indicating a positive trend in demand recovery within the military sector [40] - The report highlights various companies and sectors to watch, including those involved in military aircraft, low-altitude economy, and commercial aerospace [11][12]

Group 1: Commercial Aerospace Industry Development - The commercial aerospace industry in Hebi is experiencing strong growth, with the establishment of the Aerospace Hongtu Central Satellite Operation Center, which covers the entire satellite data reception, processing, and application chain [1] - The "Nuwa Constellation" currently has over 10 satellites in orbit, making it the largest radar remote sensing constellation in the country [1] - Several projects, including Tianzhang Satellite and Tianzhang Rocket, have been launched, forming an integrated industrial chain encompassing satellite manufacturing, rocket development, and data application [1] Group 2: Transformation and Innovation in Hebi - Hebi's transformation is highlighted by the successful production of qualified metallic magnesium products at the China Aluminum (Hebi) magnesium-based new materials pilot base, utilizing 15.5 billion tons of high-grade dolomite resources [2] - The city is developing a modern industrial system based on three major advantageous industries (functional new materials, electronics, magnesium-based new materials) and three emerging industries (commercial aerospace, biomanufacturing, semiconductors) [2] - Hebi has received recognition from the State Council for its development of the commercial aerospace industry chain [2] Group 3: Innovation Ecosystem and Urban Development - Hebi is optimizing its innovation ecosystem by establishing the Hebi Science and Technology Innovation City, which includes 27 pilot bases and over 75 high-tech enterprises [3] - The city is advancing urbanization with a focus on human-centered development, completing the "15-minute living circle" in 157 communities and renovating over 300 old residential areas [3] - Hebi has implemented a grassroots governance model that enhances system efficiency and has been recognized as a national model city for social governance modernization [3] Group 4: Future Development Goals - Hebi aims to continue deepening industrial transformation, innovation development, and green low-carbon initiatives while improving people's livelihoods as part of its strategic positioning for high-quality development [4]