陕西航天动力高科技股份有限公司 关于股票交易风险提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 登录新浪财经APP 搜索【信披】查看更多考评等级 证券简称：航天动力 证券代码：600343 编号：临2026-005 ●股价短期涨幅过大的风险。公司股票价格近期涨幅较大，短期涨幅明显高于同期行业及上证指数涨 幅，但公司基本面未发生重大变化，存在市场情绪过热、非理性炒作风险，交易风险极大，存在股价短 期快速回落风险。敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 ●经营相关风险。公司2025年前三季度实现营业收入50,950.84万元，比上年同期减少14.19%，归属于上 市公司股东的净利润-10,925.25万元，比上年同期亏损加深，基本每股收益-0.17元/股。 ●公司主营业务不涉及商业航天，亦无商业航天类资产对外投资，仅配合加工火箭发动机零部件，营收 占比不足2%，该业务目前尚处于亏损状态。 ●公司目前主要业务是泵及泵系统、液力传动系统等的研发、生产、销售，业务主要涉及能源、化工、 水利、 ...

Core Viewpoint - The company, Aerospace Power, is facing legal challenges due to violations of information disclosure, with 615 lawsuits filed by investors seeking compensation for alleged false statements [3] Group 1: Legal Issues - The China Securities Regulatory Commission has imposed administrative penalties on the company and related individuals for information disclosure violations [3] - A total of 241 investors have filed lawsuits against the company, claiming it should bear responsibility for securities false statements [3] - As of the announcement date, 95 cases have resulted in a court ruling requiring the company to pay a total of 16.08 million yuan in compensation [3] Group 2: Financial Performance - The company has reported continuous net losses for four consecutive years from 2021 to 2024, with net profits of -197 million yuan, -39.96 million yuan, -195 million yuan, and -187 million yuan respectively [8] - In the first three quarters of 2025, the company achieved revenue of 510 million yuan, a decrease of 14.19% year-on-year, with a net loss of 109 million yuan, indicating an expanded loss compared to the previous year [8] - Cumulatively, the company has incurred losses of approximately 728 million yuan over the last four years and the first three quarters of the current year [8] Group 3: Stock Performance and Market Sentiment - Since November of the previous year, the company's stock price has surged, with a total increase of 366%, but recently experienced a decline of 6.70%, closing at 45.69 yuan per share, with a market capitalization of 29.16 billion yuan [3] - The company has issued multiple announcements regarding abnormal stock trading fluctuations, clarifying that its main business does not involve commercial aerospace and that its revenue from related activities is less than 2% [6] - The company has warned of risks associated with its stock price, indicating potential market overreaction and the risk of a rapid price decline [7]

Core Viewpoint - The stock of Shaanxi Aerospace Power High-Tech Co., Ltd. has experienced a significant abnormal fluctuation, with a cumulative increase of 200% over 30 trading days, indicating potential irrational speculation and risks of a rapid price drop [2][4]. Group 1: Stock Performance - The company's stock price increased by 200.80% from November 20, 2025, to December 31, 2025, which is significantly higher than the industry average and the Shanghai Composite Index [2][10]. - The stock's price deviation from its fundamentals suggests a market sentiment that may be overheated, leading to risks of a quick price correction [2][10]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported a revenue of 509.51 million yuan, a decrease of 14.19% compared to the same period last year [2][11]. - The net profit attributable to shareholders was -109.25 million yuan, indicating a deeper loss compared to the previous year, with a basic earnings per share of -0.17 yuan [2][11]. Group 3: Business Operations - The company does not engage in commercial aerospace activities and has no investments in commercial aerospace assets, with its revenue from processing rocket engine components accounting for less than 2% of total revenue, which is currently in a loss state [2][7]. - The primary business involves the research, production, and sales of pumps and pump systems, as well as hydraulic transmission systems, primarily serving the civil sectors in energy, chemicals, water conservancy, and transportation [2][9]. Group 4: Disclosure and Compliance - As of the announcement date, the company, its controlling shareholders, and actual controllers have no undisclosed matters that should be disclosed [3][6]. - The board of directors confirms that there are no undisclosed significant matters or plans that could impact the company's stock price [12].

Core Viewpoint - The stock of Aerospace Power has experienced a significant price fluctuation, with a cumulative increase of 20% over three consecutive trading days, indicating abnormal trading activity [1] Company Overview - Aerospace Power primarily engages in the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems [1] - The company's business operations are mainly focused on industries such as energy, chemicals, water conservancy, and transportation [1] Business Activities - The company does not involve itself in commercial aerospace activities and has no investments in commercial aerospace assets [1] - The revenue generated from the processing of rocket engine components accounts for less than 2% of the company's total revenue [1]

Core Viewpoint - The company has experienced unusual stock price fluctuations, with a cumulative increase of 20% over three consecutive trading days, but confirms no undisclosed significant information exists [1] Company Overview - The company primarily engages in the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems, serving industries such as energy, chemicals, water conservancy, and transportation [1] - The company does not involve itself in commercial aerospace and has no investments in commercial aerospace assets, with revenue from related activities accounting for less than 2% [1] Financial Performance - For the first three quarters of 2025, the company reported operating revenue of 509.51 million yuan, a year-on-year decrease of 14.19% [1] - The net profit attributable to shareholders was -109.25 million yuan, indicating a deeper loss compared to the same period last year, with basic earnings per share at -0.17 yuan [1] - The company's stock price-to-earnings ratio is negative, reflecting the impact of multiple factors on stock price volatility [1]

Core Viewpoint - Aerospace Power (600343) clarifies that its main business does not involve commercial aerospace and has no investments in commercial aerospace assets, focusing instead on the manufacturing of rocket engine components, which accounts for less than 2% of its revenue [1] Group 1: Business Overview - The primary business of Aerospace Power includes the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems [1] - The company's operations are mainly concentrated in the energy, chemical, water conservancy, and transportation sectors, with applications primarily in the civilian field [1]

Core Viewpoint - The company, Aerospace Power, has issued a risk warning regarding its stock trading, clarifying that its main business does not involve commercial aerospace and that it has no investments in commercial aerospace assets [1] Group 1: Business Operations - The company primarily engages in the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems [1] - The revenue contribution from the processing of rocket engine components is less than 2% of the company's total revenue [1] Group 2: Industry Focus - The company's business mainly serves the energy, chemical, water conservancy, and transportation industries, with applications primarily in the civilian sector [1]

Core Viewpoint - Aerospace Power (600343.SH) issued a risk warning regarding its stock trading, clarifying that its main business does not involve commercial aerospace and it has no investments in commercial aerospace assets [1] Group 1: Business Overview - The company primarily engages in the research, development, production, and sales of pumps and pump systems, as well as hydraulic transmission systems [1] - Its business mainly serves the energy, chemical, water conservancy, and transportation industries, with applications primarily in the civilian sector [1] Group 2: Revenue Contribution - Revenue from activities related to processing rocket engine components accounts for less than 2% of the company's total revenue [1]

Group 1 - The core viewpoint of the article highlights the recent surge in the stock price of Aerospace Power, which has achieved two consecutive trading limit ups, indicating strong market interest in the commercial aerospace sector [1] - Aerospace Power's stock reached a trading limit at 9:35 AM with a transaction volume of 1.426 billion yuan and a turnover rate of 7.39%, reflecting significant trading activity [1] - The company is primarily engaged in the research and production of pumps, pump systems, and hydraulic transmission systems, positioning it well within the growing commercial aerospace market [1] Group 2 - There is an expectation of state-owned enterprise reform associated with Aerospace Power, which has contributed to increased market attention and support for its stock performance [1] - The rising interest in the commercial aerospace concept in the market has provided a favorable environment for Aerospace Power's stock to maintain its upward momentum [1]

Market Overview - The A-share market experienced sideways fluctuations, with software and media sectors related to AI applications facing adjustments, leading to a decline in the ChiNext index [2] - As of the midday break, the Shanghai Composite Index was at 3894.22 points, down 0.09%, while the Shenzhen Component and ChiNext indices fell by 0.19% and 0.50%, respectively [2] Commercial Aerospace Sector - The commercial aerospace concept continued to show momentum, with Aerospace Power (600343) initially hitting the daily limit down before rebounding to reach the daily limit up, showcasing a "floor and ceiling" performance [4] - Aerospace Power is primarily engaged in the research, production, and sales of pumps and hydraulic transmission systems, serving sectors such as energy, chemicals, water conservancy, and transportation, mainly in the civilian domain [4] Stock Performance in Commercial Aerospace - Other stocks in the commercial aerospace sector, such as Zhonghuan Hailu and Zhaobiao Co., saw early gains exceeding 10%, with Shunhao Co., Zhongheng Design, and Galaxy Electronics also hitting the daily limit [6] - Notable stock performances included: - Zhonghuan Hailu: +11.89% at 29.27 - Zhaobiao Co.: +10.44% at 22.00 - Shunhao Co.: +9.99% at 10.68 - Aerospace Power: +9.98% at 26.55 - Zhongheng Design: +9.98% at 11.90 - Galaxy Electronics: +9.95% at 6.52 [7] Coal Sector Activity - The coal sector was active, with the Shenwan Coal Index rising by 1.07% in the morning session, and companies like Antai Group, Dayou Energy, and New Dazhou A hitting the daily limit [10] - Antai Group recorded two consecutive limit-up days [10] Stock Performance in Coal Sector - Key stock performances in the coal sector included: - Dayou Energy: +10.05% at 9.20 - Antai Group: +10.04% at 5.59 - New Dazhou A: +10.00% at 6.49 [11] Coal Sector Analysis - Current analysis indicates that the coal sector has dual upward logic: 1. Cyclical elasticity, as both thermal and coking coal prices remain at historical lows, providing room for rebound due to supply-side policies and seasonal demand increases [12] 2. Steady dividends, with several coal companies maintaining high dividend intentions, indicating a favorable investment environment amidst global uncertainties and domestic economic stabilization [12]