Sunway Communication (300136) Strong Performance Analysis: Commercial Aerospace Drivers and Sustainability Assessment

Sunway Communication (300136)'s strong performance mainly stems from multiple catalysts in the commercial aerospace and satellite communication industries:

• Policy and industry event stimulation
  : In November 2025, the State Council issued policies to support private capital participation in commercial aerospace infrastructure construction [1]; on December 24, the China Commercial Aerospace Development Conference released an industry plan [2]; on December 31, the “Shijian 29” satellite was successfully launched [3], marking China’s commercial aerospace entering an intensive launch period, driving the rise of sector indices such as Satellite ETF (159206).
• Company business layout advantages
  : As a leading enterprise in the pan-RF field, Sunway Communication has unique competitive advantages in the commercial aerospace field, with products covering high-frequency high-speed connectors and high-performance antennas required for low-Earth orbit satellite communication [1], and it is a member of SpaceX’s supply chain [4].
• Sector linkage effect
  : Since December 2025, the commercial aerospace sector has become one of the strongest main lines in A-shares, with index products such as Satellite ETF (512630) rising sharply, driving core companies like Sunway Communication to rise in tandem [5].

Price and volume data show:

• From December 24 to 25, 2025, Sunway Communication had a cumulative increase of over 30% in two consecutive trading days, triggering an abnormal trading fluctuation announcement [6]; on December 25, the stock closed at 50.70 yuan, up 13.35%, with a turnover of 8.442 billion yuan and a turnover rate of over 21% [7]; on December 30, the closing price was 53.0 yuan, up 3.21%, with turnover exceeding 10 billion yuan and a turnover rate of 22.67% [8].
• Technical indicators show short-term overheating: The price broke through the upper Bollinger Band, RSI was overbought, and the BIAS2 positive deviation rate reached 31.63 [7]; main funds showed a net outflow during the rise [7][8], indicating short-term correction pressure.

• Support factors
  : The company has a leading layout in the commercial aerospace business, is an exclusive supplier of parts for North American satellite ground terminals, and is a member of SpaceX’s supply chain [4], benefiting from the industry’s high growth expectations.
• Risk factors
  : In the first three quarters of 2025, the net profit attributable to the parent company decreased by 8.77% year-on-year, and profitability is still under pressure [8]; the actual revenue contribution from the commercial aerospace business has not been fully reflected, and the valuation has been partially overdrawn [7].

• Sunway Communication’s strong performance is the result of the combined effect of industrial policies, industry events, and the company’s business layout, reflecting the market’s high recognition of the development potential of the commercial aerospace industry.
• The contradiction between technical overbought and fundamental profit pressure may lead to intensified short-term fluctuations; it is necessary to monitor capital flows and the matching degree of actual industry progress.
• As a component of the Satellite ETF, Sunway Communication’s stock performance is highly correlated with the overall trend of the sector; sector policies and events will continue to affect its trend.

• Risks
  : Short-term technical correction risk (overbought indicators, main capital net outflow); fundamental profit pressure; policy and technical uncertainty in the commercial aerospace industry; valuation overdraw risk.
• Opportunities
  : High growth expectations of the commercial aerospace industry; first-mover advantage of the company’s business layout; continuous policy support for the sector.

Sunway Communication (300136)'s recent strong performance is mainly driven by intensive positive factors in the commercial aerospace industry. Technical indicators show signs of short-term overheating, and fundamentals face profit pressure. Investors should pay attention to:

• Progress of commercial aerospace industry policies and events;
• Revenue contribution of the company’s commercial aerospace business;
• Technical support levels (50 yuan, 45 yuan) and resistance levels (55 yuan, 60 yuan);
• Main capital flows and the overall trend of the sector.

This report does not include images of stock prices or financial indicators.