Shunhao Co., Ltd. Commercial Aerospace Concept Investment Analysis Report

Shunhao Co., Ltd.'s recent strong performance of 8 out of 12 days hitting the daily limit is mainly driven by commercial aerospace concept speculation, but its fundamental support is relatively weak, and investment risk is high.

Shunhao Co., Ltd. triggered an abnormal fluctuation announcement as the cumulative deviation of its closing price increase exceeded 20% over three consecutive trading days from December 10 to 12, 2025 [3]. From November 18 to December 15 (20 trading days), the stock price soared from 7.37 yuan to 16.23 yuan, an increase of 120.22% [0].

• Extreme Overbought
  : RSI indicator reached 98.02, far exceeding the overbought warning line of 70
• Surge in Trading Volume
  : The average trading volume during this period was 124 million shares, an increase of 62% compared to the usual 76.3 million shares
• High Volatility
  : The standard deviation of daily volatility was 4.81%, indicating extremely high market volatility
• Technical Divergence
  : Although the stock price hit a new high, there was no corresponding improvement in fundamentals

Shunhao Co., Ltd. (Shanghai Shunhao New Material Technology Co., Ltd.) mainly engages in packaging and container business, belonging to the consumer cyclical industry [0]. The company’s fundamental data shows:

• Overvalued
  : P/E ratio is 325.40x, P/B ratio is 9.14x, far higher than the industry average
• Weak Profitability
  : ROE is only 3.04%, net profit margin is 4.41%, showing poor profitability
• Average Financial Condition
  : Current ratio is 3.26, quick ratio is 2.68; liquidity is acceptable but not excellent

The latest quarterly data shows that as of June 30, 2025, EPS was only 0.02 yuan, revenue was 294 million US dollars, and performance was mediocre [0]. From the trend, the company’s profitability has fluctuated greatly in recent years, lacking sustained growth momentum.

1. Industry Policy Support
   : The country promotes the construction of an aerospace power, and a three-year plan for commercial aerospace development has been issued
2. Technological Breakthrough
   : The Zhuque-3 Y1 carrier rocket successfully entered orbit, becoming China’s first reusable carrier rocket [2]
3. Intensive Launches
   : China’s aerospace rockets were launched intensively in December, and the commercial aerospace sector remained active [1]
4. Market Sentiment
   : News that SpaceX may IPO in 2026 boosted the global commercial aerospace sector [2]

Shunhao Co., Ltd.'s commercial aerospace concept mainly comes from its 110 million yuan investment in Beijing Orbit Chenguang Technology Co., Ltd. in June 2025, with a shareholding ratio of 19.30% [3]. Orbit Chenguang’s main business is to launch computing power satellites into the dawn-dusk orbit to form a space data center and provide computing power services to customers.

• Poor Business Synergy
  : The company clearly announced that its existing business has not produced synergies with Orbit Chenguang’s business [3]
• Limited Performance Contribution
  : The investment has no synergy with the company’s existing business and has little impact on the 2025 operating performance [4]
• Industrialization Risk
  : The relevant industry is still in the early stage of development, and future returns have great uncertainty [4]

• Excessively High P/E Ratio
  : The 325.4x P/E ratio is far beyond the reasonable range, showing obvious bubbles
• Concept Speculation
  : The stock price rise is mainly driven by concept speculation, lacking performance support
• Technical Risk
  : RSI reached an extreme overbought state of 98.02, with great short-term correction risk

• Technology Maturity
  : The commercial aerospace industry is still in the initial development stage, with great uncertainty in technical routes
• Policy Dependence
  : Industry development is highly dependent on policy support, with great policy change risk
• Fierce Competition
  : Many enterprises have entered the commercial aerospace field, and the competition pattern is not yet determined

• Abnormal Fluctuation
  : Has triggered regulatory attention due to abnormal fluctuations, and may face further regulatory measures
• Capital Withdrawal
  : Once the concept stock cools down, it may face the risk of rapid capital withdrawal

Based on the current analysis, Shunhao Co., Ltd.'s investment risk level is “High Risk”, mainly including the following risks:

1. Severe divergence between fundamentals and stock price
2. Excessive concept speculation
3. Extreme overbought in technical aspects
4. Poor business synergy

: It is recommended to wait and see or avoid, and wait for the rational return after the concept cools down
: If you need to participate, it is recommended to:

1. Strictly control the position, not exceeding 5% of the total investment
2. Set a strict stop-loss level, recommended around 15 yuan
3. Pay attention to regulatory dynamics and company announcements
4. Focus on short-term operations and avoid long-term holdings

1. Orbit Chenguang’s Business Progress
   : Pay attention to the actual progress of satellite launch, computing power services and other businesses
2. Policy Support Intensity
   : Pay attention to policy changes of the country on the commercial aerospace industry
3. Technological Breakthrough
   : Pay attention to key technological breakthroughs such as reusable rockets
4. Performance Realization
   : Pay attention to whether the company’s investment income can be reflected in the financial report

DCF analysis is used for valuation assessment, considering:

1. Slow growth of core business (3-5%)
2. Uncertain contribution of commercial aerospace investment
3. Fierce industry competition
4. High technical risk

The reasonable valuation range should be between 8-12 yuan, and the current price of 16.27 yuan has significant room for correction.

Shunhao Co., Ltd.'s 8 out of 12 days hitting the daily limit is a typical concept-driven rise, with weak fundamental support and high investment risk. Although the commercial aerospace industry has broad prospects, the company’s relevance to this field is limited, and it is difficult to make substantial performance contributions in the short term. Investors should remain rational, avoid blind chasing of high prices, and focus on the return of fundamentals after the concept fades.

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[0] Gilin API Data - Shunhao Co., Ltd. Company Overview, Real-time Quotes, Stock Price Data, Financial Analysis
[1] Sina Finance - “Next Week’s A-shares: Important Adjustments! Spring Market is Coming”
[2] Haoyanbao - “Industry Valuation and Basic Data”
[3] East Money - “Shunhao Co., Ltd.: Abnormal Stock Trading Fluctuation”
[4] Sina Finance - “A-share Big Bull Stock Shunhao Co., Ltd. Issued an Emergency Announcement! Existing Business Has No Synergy with Orbit Chenguang’s Business”