The commercial aerospace sector continues its strong performance. These commercial aerospace stocks are projected to report favorable full-year performance. Today (December 25th), the Shanghai Composite Index demonstrated strength throughout the day, recording its seventh consecutive gain, while the Shenzhen Component Index and the ChiNext Index rebounded after touching lows. At the close, the Shanghai Composite Index rose by 0.47%, the Shenzhen Component Index increased by 0.33%, and the ChiNext Index gained 0.3%.
In market activity, the commercial aerospace sector maintained its momentum, with over ten stocks, including Tianao Electronics, Tongyu Communication, China Satellite, Zhongtian Rocket, and Aerospace Electronics, hitting the daily limit-up successively. On the news front, the 3rd China Commercial Aerospace Development Conference was held in Beijing on December 24th. The conference officially launched the Commercial Aerospace Industry Alliance Science and Technology Innovation Fund and released relevant industry data. Reportedly, the fund's initial issuance size is between 1 billion and 2 billion yuan, with capital deployment and project layout to be completed in phases. Investment focus will center on four major areas: Low-Earth Orbit satellite constellations and satellite internet, reusable launch vehicles and rocket launch services, new materials and components for commercial aerospace, and the development and utilization of space resources alongside emerging space services. Long Kaicong, Vice Chairman and Secretary-General of the Zhongguancun Lingchuang Commercial Aerospace Industry Alliance, pointed out that as of November, the global average monthly launch rate exceeded 26 times, signifying that the global space industry has entered an "era of weekly launches." The total number of launches for the year is expected to surpass 320, setting a new historical record.
Regarding capital markets, the website of the China Securities Regulatory Commission shows that LandSpace's IPO tutoring for the STAR Market has been formally completed, positioning it to potentially become the "first commercial aerospace stock" on the STAR Market. Established in 2015, LandSpace is one of China's leading private aerospace enterprises, specializing in the research, development, and operation of medium-to-large liquid oxygen methane launch vehicles. In 2023, its Zhuque-2 Yao-2 rocket successfully launched, becoming the world's first liquid oxygen methane rocket to achieve orbit. Public information indicates that in December 2024, the National Manufacturing Transformation and Upgrading Fund invested 900 million yuan in LandSpace, making it the single largest institutional investor in LandSpace's funding history. By the end of 2024, LandSpace had raised over 7 billion yuan cumulatively. Since its founding, LandSpace has undergone approximately 17 rounds of financing. The "2025 Global Unicorn List" shows LandSpace's valuation has reached 20 billion yuan. Kaiyuan Securities stated that the large-scale application of commercial aerospace highly depends on low-cost, high-frequency launch capabilities, for which reusable rockets are key. Currently, China's reusable rockets have entered the engineering verification stage, with multiple models like LandSpace's Zhuque-3 and the Long March 12A undergoing intensive test flights. The initial commercialization phase, characterized by "launching while iterating," is expected within the next three years.
These commercial aerospace stocks are projected to report favorable full-year performance. Since the fourth quarter of 2025 (up to December 24th), margin traders have consistently been net buyers of commercial aerospace concept stocks. According to statistics from Securities Times·Databao, there are 27 commercial aerospace stocks with net margin buying amounts exceeding 100 million yuan. Aerospace Development, Filight, Aerospace Electronics, and China Satellite had net margin buying amounts all surpassing 1 billion yuan, at 1.895 billion yuan, 1.501 billion yuan, 1.199 billion yuan, and 1.041 billion yuan, respectively. Aerospace Development has seen continuous recent gains; from November to now, its cumulative increase has reached a substantial 205.85%. The company focuses on aerospace defense information technology as its primary development direction, prioritizing strengthening national defense and concentrating on its main responsibilities and businesses, continuously developing areas like Blue Force systems and equipment, and new-generation communication and command equipment. Its subsidiary, Aerospace Tianmu, is primarily engaged in commercial low-orbit satellite operation and data application services, although its revenue contribution remains minimal. Filight is one of the few manufacturers globally with mass production capabilities for quartz glass fibers and a leading domestic supplier of quartz glass fibers for the aerospace sector. The company has undertaken R&D for advanced integrated structural and functional thermal protection composites and highly insulating quartz glass fiber composites. Several high-performance composite product projects have been successfully developed, passed relevant tests meeting all required indicators, with one project already entering the mass production stage.
Based on consensus forecasts from three or more institutions, and building on profitability in the same period of 2024, seven stocks - Beimo High-tech, Zhimingda, Narui Radar, Aerospace CH, Torch Electron, Hongyuan Electron, and Zongshen Power - are expected to see their full-year 2025 net profit potentially double. Beimo High-tech leads with the highest institutionally-consensus-predicted year-on-year net profit growth rate of 1182.14%. Additionally, *ST Chengchang, Aerospace Nanhu, and Shanghai Hanxun are projected to turn losses into profits. Beimo High-tech recently stated on an interactive platform that its full-electric braking technology has been applied in aerospace equipment, filling a gap in domestic aerospace braking capabilities. In the commercial aerospace field, its controlling subsidiary, Jinghanyu, already provides various reliability testing services to clients, and testing projects supporting commercial satellites have been implemented. Huaxin Securities pointed out that the company has achieved a leapfrog transformation into a system supplier and integrated solution provider. With future increases in landing gear production capacity and the expansion into the civilian aerospace materials market, the company is expected to unlock a second growth curve; a "Buy" rating was assigned. In response to investor relations inquiries, Zhimingda indicated that in the commercial aerospace sector, its products are already applied in multiple areas including satellite payloads, satellite ground equipment, and integrated launch vehicle control. The company anticipates rapid revenue growth from its commercial aerospace products in 2025, with the high-growth trend expected to continue in the coming years.
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