XiAn Tian He Defense Technology Co Ltd

The review status of Tianhe Defense's application to issue shares to specific investors has been changed to registration effective. The company plans to issue no more than 111 million shares, with expected proceeds of 700 million yuan. The sponsor is Western Securities.

Commercial aerospace stocks surged in afternoon trading, with Landun Photoelectron hitting the 20 percent daily limit up, and Tianhe Defense and Aerospace Nanhu rising over 5 percent. The market is focused on the upcoming launch of LandSpace's Zhuque-3 Yao-2 reusable rocket. A research report from Huatai Securities believes that after nine months of preparation, the probability of a successful recovery in the second flight test of Zhuque-3 is relatively high. Zhongtai Securities pointed out that if Zhuque-3 achieves stable recovery and reuse, it will drive the transformation of China's commercial rocket launches toward high-frequency operations. Several A-share companies, including Sirui Advanced Materials, Shenjian Corporation, and Hongda Electronics, have confirmed business cooperation with LandSpace. Sirui Advanced Materials and Goldwind Science and Technology also hold equity stakes, but the relevant companies emphasize that the business volume and shareholding ratios are small. Institutions unanimously predict that commercial aerospace concept stocks whose net profit growth rates are expected to continue doubling in 2026 and 2027 include Yuhuan CNC Machine Tool, Shaanxi Huada, Zhongtian Rocket, Shanghai Hanxun, and Aerospace Nanhu.

Tianhe Defense's wholly-owned subsidiary Tianwei Electronics, in order to develop digital array radar, plans to commission related party Aifu Guangtong to research and develop Type I and Type II filters, and sign a Product R&D Commission Contract, with a total transaction amount of 9.75 million yuan. This transaction constitutes a related-party transaction and has been approved by the company's board of directors, with related director He Zenglin recusing himself from voting.