日涨幅：+10.04% 亮点：国内固体火箭发动机碳/碳复合材料核心供应商，产品独家配套快舟系列火箭，并为朱雀三号等 提供热防护系统，是火箭发动机热防护材料龙头。 再升科技（603601.SH） 最新股价：11.97元 日涨幅：+10.02% 亮点：子公司嘉业航空为航天科技集团一级供应商，为星网工程等提供卫星天线、反射器等复合材料零 部件，并为民营火箭企业提供箭体结构件。 博云新材（002297.SZ） 最新股价：12.39元 今日A股市场，商业航天板块成为最耀眼的明星。板块内个股集体走强，呈现全线涨停的强势格局，从 核心部件到卫星制造，产业链各环节龙头公司备受资金追捧，神剑股份、博云新材、再升科技、上海港 湾、大业股份领涨，题材相关企业整理如下： 神剑股份（002361.SZ） 最新股价：12.13元 日涨幅：+9.97% 亮点：获AS9100D航空航天体系认证，向SpaceX供应超高温绝热材料用于火箭热防护，同时也是国内 商业火箭企业的重要材料供应商。 上海港湾（605598.SH） 最新股价：61.90元 日涨幅：+10.01% 亮点：控股子公司伏羲光伏聚焦商业航天空间电源系统，其钙钛矿太阳电池及电源系统 ...

Core Viewpoint - The article discusses the recent stock price surge of Zai Sheng Technology (603601.SH) amidst a backdrop of business hollowing, driven by speculative trading and questionable financial maneuvers by its controlling shareholder [4][7][17]. Group 1: Stock Performance and Market Dynamics - From December 8 to December 15, 2025, Zai Sheng Technology achieved six consecutive daily price limits, doubling its stock price [4]. - On December 22, 2025, the company's closing price reached 10.90 CNY per share, with a TTM price-to-earnings ratio of 131.9 [18]. - The stock's trading volume was notably high, with a daily turnover rate of 30.57% on December 22, indicating speculative trading behavior [6]. Group 2: Business Fundamentals and Revenue Concerns - Despite the stock price surge, the company's fundamentals are under pressure, with its aerospace-related revenue accounting for less than 0.5% of total revenue in 2024, and no current orders in hand [10][39]. - The company has experienced a continuous decline in net profit over the past three years, with decreases of 30.3%, 39.8%, and 74.8% from 2021 to 2023 [37]. - For the first three quarters of 2025, the company reported a revenue of 9.9 billion CNY, a year-on-year decrease of 10.1%, and a net profit of 81.25 million CNY, down 10.6% [39]. Group 3: Shareholder Actions and Financial Maneuvers - On December 8, 2025, the controlling shareholder, Guo Mao, signed an agreement to transfer 6.04% of the company's shares at a price of 5.53 CNY per share, totaling 344 million CNY [13][14]. - This transfer was executed under suspicious circumstances, as the stock price hit the daily limit on the same day the agreement was signed, raising concerns about potential insider trading [16]. - Guo Mao's cumulative cash-out from share sales, including this transfer, amounts to 880 million CNY, reducing his ownership from 44.75% to 27.09% [30]. Group 4: Corporate Governance and Future Outlook - The buyer of the shares, Zhongrong Huaxin, is characterized as a shell company with zero revenue and significant financial losses, raising questions about the legitimacy of the transaction [19][21]. - The company has faced challenges in its business expansion and project timelines, with delays in the completion of key projects and failed acquisitions [42][43]. - The article suggests that the controlling shareholder prioritizes capital operations over business development, indicating a lack of sustainable growth strategies [46].