Commercial Space Star Stock *ST Chengchang Stages Dramatic "Floor-to-Ceiling" Rebound Upon Trading Resumption

On January 16, *ST Chengchang (001270) opened at the daily limit down, only to subsequently experience a sharp vertical surge that quickly propelled it to the daily limit up, staging a dramatic "floor-to-ceiling" reversal. As of the time of writing, the stock was quoted at 128.98 yuan, with a turnover exceeding 700 million yuan.

In an announcement released the previous evening, *ST Chengchang stated that the relevant verification work had been completed. Addressing the abnormal fluctuations in the company's stock trading, which prompted a trading halt for verification, the company provided the following clarification: There is no information previously disclosed by the company that requires correction or supplementation; the company has not discovered any recent public media reports containing material non-public information that could or has significantly affected its stock price; the company's current operations are normal, with no significant changes in its internal or external operating environment. In accordance with relevant regulations, following an application to the Shenzhen Stock Exchange, the company's stock resumed trading at the market open on Friday, January 16, 2026.

On the evening of January 12, 2026, *ST Chengchang had announced that its stock trading had shown consistent abnormal fluctuation patterns four times within ten consecutive trading days, constituting a severe abnormal volatility situation. To protect investor interests, the company applied for a trading halt starting from the market open on January 13, pending the completion of the verification and the disclosure of a relevant announcement.

The share price of *ST Chengchang has experienced a significant rally since December 1, 2025. In the seven trading days leading up to the halt, the stock recorded consecutive limit-up gains, earning it the market label of a recent high-flyer within the commercial aerospace sector. Company information indicates that its primary business involves the research and development, production, sales, and technical services of microwave and millimeter-wave phased array T/R chips.