声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，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。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 2026年1月23日，*ST立航（sh603261）触及涨停，涨停价32.41元，涨幅4.99%，总市值25.12亿元，流 通市值25.12亿元，截止发稿，总成交额6193.14万元。 根据喜娜AI异动分析，*ST立航涨停原因可能如下，航空装备+业绩预期+板块联动： 1、公司主要从事 飞机地面保障设备、航空器试验和检测设备等航空装备相关业务。随着航空产业的持续发展，对相关装 备的需求不断增加，公司所处赛道具有一定的发展潜力，为股价上涨提供了基本面支撑。 2、公司将于 2026年4月23日发布年报，市场对其业绩存在一定的预期。若年报业绩表现良好，将进一步提升公司的 投资价值，吸引投资者关注，这可能是刺激 ...

Core Viewpoint - Despite a year-on-year revenue increase, *ST Lihang's 2024 revenue remains below 300 million yuan, and the company continues to operate at a loss, leading to a delisting risk warning for its stock [2][4]. Revenue and Profitability - In 2024, *ST Lihang achieved a revenue of 290 million yuan, a year-on-year increase of 23.54%, but reported a net loss of 94 million yuan, a decline of 37.51% compared to the previous year [4]. - The company's gross profit margin has significantly decreased, with 2023 and 2024 gross profit margins at 13.82% and 6.21%, respectively, and net profit margins at -29.12% and -32.96% [5]. Cost Structure and Sales - The increase in revenue was accompanied by a more than 30% rise in operating costs, attributed to a shift in product sales structure towards lower-margin non-standard products [2][5]. - The company reported that the sales of high-margin products decreased compared to the previous year, contributing to the overall decline in profitability [5]. Inventory and Financial Management - As of the end of 2024, *ST Lihang's inventory value increased by 39.66% to 220 million yuan, marking four consecutive years of inventory growth [6][7]. - The accounts payable also rose by 66.26% due to increased orders and corresponding procurement [7]. Financial Costs - Financial expenses surged by 394.32% to 1.559 million yuan in 2024, primarily due to increased interest on working capital loans [8].