2026年1月12日晚，*ST铖昌公告称，公司股票交易连续10个交易日内4次出现同向股票交易异常波动情 形，属于股票交易严重异常波动的情况。为维护投资者利益，公司申请自1月13日开市起停牌，待核查 结束并披露相关公告后复牌，预计停牌时间不超过3个交易日。 2025年12月以来，*ST铖昌一飞冲天，股价连续上涨，在短短29个交易日中，*ST铖昌累计收获20个涨 停板，股价从11月底的43.48元/股拉升至122.84元/股。 市值激增逾160亿元 公开资料显示，*ST铖昌成立于2010年11月，于2022年6月由和而泰（002402.SZ）分拆并在深市主板上 市。公司专注于微波毫米波模拟相控阵T/R芯片的研发、生产、销售及技术服务，是国内少数能够提供 相控阵T/R芯片完整解决方案的企业之一。 所谓相控阵天线体制是指通过计算机控制各辐射单元的相位，改变波束的指向进行扫描，具有快速而精 确的波束切换及指向能力，使装备能够在极短时间内完成全空域扫描。这使得基于相控阵体制的无线电 子信息系统逐步成为了当前及未来先进无线系统的主流发展方向，广泛应用于探测、遥感、通信、导航 等领域，并逐步应用于航空通信、低空经济领域。 * ...

1月13日，和而泰跌5.2%，截至发稿，报40.46元/股，成交22.18亿元，换手率6.67%，总市值374.13亿 元。 资料显示，深圳和而泰智能控制股份有限公司位于广东省深圳市南山区高新南区科技南十路6号深圳航 天科技创新研究院大厦D座10楼1010-1011，成立日期2000年1月12日，上市日期2010年5月11日，公司主 营业务涉及家庭用品智能控制器、新一代智能控制器、智能硬件的研发、生产和销售以及厂商服务平台 业务;微波毫米波模拟相控阵T/R芯片设计研发、生产、销售和技术服务。主营业务收入构成为：家用电 器智能控制器65.41%，智能化产品智能控制器11.34%，电动工具智能控制器9.82%，汽车电子智能控制 器7.63%，微波毫米波模拟相控阵T/R芯片3.69%，其他2.10%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 信澳新目标灵活配置混合A（003456）成立日期2016年10月19日，最新规模240.78万。今年以来收益 ...

2、航天装备与新材料板块：可回收火箭技术突破带动航天材料、结构设计升级，火箭结构件、耐高温 材料、高性能复合材料等领域迎来增量需求，相关企业有望获得持续订单。 据东方财富研究中心12月19日消息，据媒体报道，由中国航天科技集团有限公司第八研究院抓总研制的 长征十二号甲可重复使用运载火箭，原计划于2025年12月中下旬在酒泉卫星发射中心执行首次发射任 务。另外，第三届北京商业航天产业高质量发展大会暨2026北京国际商业航天展览会定于2026年1月23 日至25日举行。 国金证券表示，近期可复用火箭密集发射，星网与千帆星座加速组网。无论从海外映射亦或是国内催化 来看，商业航天产业趋势已迎奇点时刻。华西证券指出，随着政策支持力度加大和技术成熟度提升，商 业航天有望进入产业化落地的关键窗口期。 相关市场板块分析 1、卫星制造与发射服务板块：受益于低轨星座组网提速，卫星批量制造与发射服务需求爆发，卫星平 台、载荷、测运控系统等细分环节率先受益，产业从"投入孵化期"向"盈利兑现期"迈进。 铖昌科技（001270）：公司专注于微波毫米波模拟相控阵T/R芯片的研发、生产与销售，产品已广泛应 用于卫星通信、雷达等领域。作为相控 ...

Core Viewpoint - The stock of Heertai has experienced significant fluctuations, with a year-to-date increase of 163.91% but a recent decline of 8.60% over the past five trading days, indicating volatility in investor sentiment and market conditions [1]. Company Overview - Heertai Intelligent Control Co., Ltd. was established on January 12, 2000, and went public on May 11, 2010. The company specializes in the research, production, and sales of smart controllers for household appliances, new-generation smart controllers, and smart hardware [2]. - The main revenue sources for Heertai include smart controllers for household appliances (65.41%), smart controllers for intelligent products (11.34%), electric tool smart controllers (9.82%), automotive electronic smart controllers (7.63%), and microwave millimeter-wave T/R chip design and services (3.69%) [2]. Financial Performance - For the period from January to September 2025, Heertai reported a revenue of 8.27 billion yuan, representing a year-on-year growth of 17.47%. The net profit attributable to shareholders was 603 million yuan, showing a significant increase of 69.66% [2]. - The company has distributed a total of 770 million yuan in dividends since its A-share listing, with 325 million yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, Heertai had 246,300 shareholders, an increase of 72.35% from the previous period. The average number of circulating shares per shareholder decreased by 41.98% to 3,272 shares [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 52.29 million shares, an increase of 39.08 million shares from the previous period [3].

Group 1 - The core point of the news is that Heertai experienced a decline of 5.21% in its stock price, reaching 51.70 CNY per share, with a trading volume of 5.014 billion CNY and a turnover rate of 11.28%, resulting in a total market capitalization of 47.807 billion CNY [1] - Heertai, established on January 12, 2000, and listed on May 11, 2010, is based in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of smart controllers for household appliances, next-generation smart controllers, and smart hardware [1] - The company's main business revenue composition includes: 65.41% from household appliance smart controllers, 11.34% from smart product smart controllers, 9.82% from power tool smart controllers, 7.63% from automotive electronic smart controllers, 3.69% from microwave and millimeter-wave analog phased array T/R chips, and 2.10% from other sources [1] Group 2 - From the perspective of major fund holdings, one fund under Xinda Australia has heavily invested in Heertai, specifically the Xin'ao New Target Flexible Allocation Mixed A (003456), which reduced its holdings by 2,700 shares in the third quarter, now holding 600 shares, accounting for 0.05% of the fund's net value [2] - The Xin'ao New Target Flexible Allocation Mixed A (003456) fund was established on October 19, 2016, with a latest scale of 2.4078 million CNY, showing a year-to-date return of 3.02% and a one-year return of 3.85% [2] - The fund manager, Yang Bin, has been in position for 3 years and 19 days, with the fund's total asset scale at 6.812 billion CNY, achieving a best return of 10.29% and a worst return of 0.08% during his tenure [3]

Group 1 - The core point of the news is that Heertai's stock price increased by 5.03% to 53.66 CNY per share, with a trading volume of 2.785 billion CNY and a turnover rate of 6.61%, resulting in a total market capitalization of 49.619 billion CNY [1] - Heertai, established on January 12, 2000, and listed on May 11, 2010, is based in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of smart controllers for household appliances, next-generation smart controllers, and smart hardware [1] - The company's main business revenue composition includes: 65.41% from household appliance smart controllers, 11.34% from intelligent product smart controllers, 9.82% from power tool smart controllers, 7.63% from automotive electronic smart controllers, 3.69% from microwave and millimeter-wave analog phased array T/R chips, and 2.10% from other sources [1] Group 2 - From the perspective of Heertai's top ten circulating shareholders, the Guangfa Fund has a stake in Heertai, with the Guangfa CSI 1000 ETF (560010) reducing its holdings by 157,700 shares in the third quarter, now holding 3.8972 million shares, which is 0.48% of the circulating shares [2] - The Guangfa CSI 1000 ETF (560010) has achieved a year-to-date return of 25.4% and a one-year return of 21.96%, ranking 1920 out of 4208 and 1979 out of 3971 in its category, respectively [2] - The fund manager of Guangfa CSI 1000 ETF (560010) is Luo Guoqing, who has been in the position for 10 years and 42 days, with the fund's total asset size reaching 104.711 billion CNY [3]

Group 1 - The core point of the news is that Heertai's stock price increased by 5.09% to 51.25 CNY per share, with a trading volume of 2.803 billion CNY and a turnover rate of 6.98%, resulting in a total market capitalization of 47.391 billion CNY [1] - Heertai, established on January 12, 2000, and listed on May 11, 2010, is based in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of smart controllers for household appliances, next-generation smart controllers, and smart hardware [1] - The main revenue composition of Heertai includes: 65.41% from household appliance smart controllers, 11.34% from smart product smart controllers, 9.82% from power tool smart controllers, 7.63% from automotive electronic smart controllers, 3.69% from microwave and millimeter-wave analog phased array T/R chips, and 2.10% from other sources [1] Group 2 - According to data, the Guangfa Zhongzheng 1000 ETF (560010) is among the top ten circulating shareholders of Heertai, having reduced its holdings by 157,700 shares in the third quarter, now holding 3.8972 million shares, which accounts for 0.48% of the circulating shares [2] - The Guangfa Zhongzheng 1000 ETF has achieved a return of 27.35% this year, ranking 1929 out of 4216 in its category, and a return of 21.04% over the past year, ranking 2037 out of 3956 [2] - The fund manager of Guangfa Zhongzheng 1000 ETF is Luo Guoqing, who has been in the position for 10 years and 39 days, with a total asset scale of 104.711 billion CNY [3]

Core Viewpoint - The stock of Heertai experienced a decline of 2.01% on November 12, with a trading price of 45.25 yuan per share, amidst significant trading volume and net outflow of funds [1]. Group 1: Stock Performance - Heertai's stock price has increased by 151.25% year-to-date, but it has seen a decline of 4.54% in the last five trading days and 10.57% in the last twenty days [1]. - The company has appeared on the trading leaderboard nine times this year, with the most recent appearance on October 31, where it recorded a net buy of 43.05 million yuan [1]. Group 2: Company Overview - Heertai, established on January 12, 2000, and listed on May 11, 2010, is based in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of smart controllers and related technologies [2]. - The main revenue sources for Heertai include smart controllers for household appliances (65.41%), smart products (11.34%), power tools (9.82%), automotive electronics (7.63%), and microwave/mm-wave chips (3.69%) [2]. Group 3: Financial Performance - For the period from January to September 2025, Heertai achieved a revenue of 8.27 billion yuan, reflecting a year-on-year growth of 17.47%, while the net profit attributable to shareholders was 603 million yuan, marking a 69.66% increase [2]. - The company has distributed a total of 770 million yuan in dividends since its A-share listing, with 325 million yuan distributed over the past three years [3]. Group 4: Shareholder Structure - As of September 30, 2025, Heertai had 246,300 shareholders, an increase of 72.35% from the previous period, with an average of 3,272 circulating shares per person, down by 41.98% [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 52.29 million shares, which increased by 39.08 million shares compared to the previous period [3].

Group 1 - The stock of Heertai fell by 6.06% to 52.90 CNY per share, with a trading volume of 5.199 billion CNY and a turnover rate of 11.27%, resulting in a total market capitalization of 48.916 billion CNY [1] - Heertai, established on January 12, 2000, and listed on May 11, 2010, specializes in the research, production, and sales of smart controllers for household appliances, next-generation smart controllers, and smart hardware, as well as microwave and millimeter-wave analog phased array T/R chip design and services [1] - The revenue composition of Heertai includes: 65.41% from household appliance smart controllers, 11.34% from smart product controllers, 9.82% from power tool controllers, 7.63% from automotive electronic controllers, 3.69% from microwave and millimeter-wave chips, and 2.10% from other sources [1] Group 2 - The CITIC Prudential fund holds a significant position in Heertai, with the CITIC Prudential CSI Smart Home Index (LOF) A (165524) reducing its holdings by 3,900 shares to 28,200 shares, representing 1.8% of the fund's net value, making it the fourth-largest holding [2] - The fund has a total scale of 46.8677 million CNY and has achieved a return of 33.8% this year, ranking 1516 out of 4216 in its category, with a one-year return of 40.63%, ranking 1098 out of 3889 [2] - The fund manager, Huang Zhi, has been in position for 7 years and 101 days, managing assets totaling 3.059 billion CNY, with the best return during his tenure being 146.63% and the worst being -21.39% [3]

Core Points - On October 31, Heertai's stock dropped by 6.06%, trading at 52.90 CNY per share, with a total transaction volume of 5.199 billion CNY and a turnover rate of 11.27%, resulting in a total market capitalization of 48.916 billion CNY [1] Company Overview - Shenzhen Heertai Intelligent Control Co., Ltd. was established on January 12, 2000, and went public on May 11, 2010. The company is located in Nanshan District, Shenzhen, Guangdong Province [1] - The main business activities include the research, development, production, and sales of smart controllers for household appliances, next-generation smart controllers, smart hardware, and vendor service platform business. Additionally, it involves the design, research, development, production, sales, and technical services of microwave and millimeter-wave analog phased array T/R chips [1] - The revenue composition of the main business is as follows: smart controllers for household appliances 65.41%, smart product controllers 11.34%, electric tool controllers 9.82%, automotive electronic controllers 7.63%, microwave and millimeter-wave analog phased array T/R chips 3.69%, and others 2.10% [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Guojin Fund has a significant position in Heertai. The Guojin CSI 1000 Index Enhanced A (017846) held 93,000 shares in the third quarter, accounting for 0.88% of the fund's net value, making it the largest holding [2] - The fund was established on March 22, 2023, with a current scale of 202 million CNY. Year-to-date, it has achieved a return of 41.26%, ranking 1155 out of 4216 in its category; over the past year, it has returned 48.27%, ranking 815 out of 3889; and since inception, it has returned 28.98% [2]