Analysis of Investment Logic for Commercial Aerospace Concept and Competitive Advantages of Longji Machinery

1. Investment Logic and Sustainability of the Commercial Aerospace Concept
   
   The recent rebound of the commercial aerospace concept stems from multiple policy and industrial catalysts: At the policy level, the China National Space Administration (CNSA) established the Commercial Aerospace Department and released a development action plan, clearly setting up a national commercial aerospace development fund [3]; At the industrial level, SpaceX is preparing for an IPO, domestic Blue Arrow Aerospace has completed listing counseling, and intensive tests of reusable rockets such as Zhuque-3 are underway [2][3]; In terms of market space, China’s commercial aerospace market size is expected to reach 7-10 trillion yuan by 2030 [3]. Although the industry has huge potential, it is still in the early stage, with downstream applications and overall profit models not yet mature [3], and there is a phenomenon of “riding the wave of hot topics”. The sustainability of the sector needs to focus on performance realization ability.

2. Competitive Advantages of Longji Machinery in the Commercial Aerospace Industrial Chain
   
   Through querying company announcements, broker research reports and news reports, no clear commercial aerospace business layout or related announcements of Longji Machinery (002363.SZ) were found [0][1][2][3]. Its main business is auto parts, belonging to the consumer cyclical industry, and the latest financial report shows the company is in the auto parts industry [0]. Therefore, its competitive advantages in the commercial aerospace industrial chain have not been clearly verified.

3. Investment Value of Longji Machinery
   
   Longji Machinery had a limit-up on December 24, 2025, with a daily increase of 9.98%, current P/E ratio of 75.57x and P/B ratio of 1.83x [0]. However, this limit-up is more driven by the sentiment of the commercial aerospace sector rather than direct support from its own commercial aerospace business [0][1][2][3]. It is necessary to be alert to concept speculation risks and pay attention to whether the company has substantial business layout or order landing.

• The rebound of the commercial aerospace concept has dual support from policy and industry, but the industry is still in the early stage. Investment needs to focus on long-term development and performance realization ability.
• Longji Machinery’s direct business connection to commercial aerospace has not been clarified. Its limit-up is mainly the result of sector sentiment transmission, so its investment value needs to be evaluated carefully.

• Risks
  : Downstream applications and profit models of the commercial aerospace industry are not mature; there is a phenomenon of “riding hot topics” in the sector, and some companies may have no substantial business layout; Longji Machinery’s business connection to commercial aerospace is not verified, and there is a risk of concept speculation.
• Opportunities
  : The commercial aerospace market space is huge, policy support is strong, and it has long-term investment potential; companies with real business layout may benefit from industry development.

The commercial aerospace concept has policy and industrial support, with broad long-term prospects, but it is still in the early stage currently, so performance realization needs to be focused on. Longji Machinery’s main business is auto parts, and its direct business connection to commercial aerospace has not been clarified. Its limit-up is mainly driven by sector sentiment, so investment needs to carefully evaluate concept speculation risks and the company’s substantial business layout.