Dean Precision Industry (300780) Surges to Limit-Up: Driven by Aerospace Concept with Coexisting Risks

Item	Data
Stock Code	300780.SZ (ChiNext)
Company Name	Sichuan Dean Precision Industry Technology Co., Ltd.
Industry Classification	Machinery Equipment - General Equipment - Metal Products [1][2]
Limit-Up Price	RMB 23.54
Price Change	+19.98% (Limit-Up)
Total Market Capitalization	RMB 3.453 billion
Free Float Market Capitalization	RMB 2.531 billion
Turnover	RMB 704 million
Turnover Rate	27.35%-29.55%
Amplitude	19.72%

---

The company recently revised

on a large scale, mainly including measures such as abolishing the supervisory board and merging its functions into the audit committee, and meeting the required proportion of independent directors [1]. This reform sends a positive signal of modernized corporate governance to the market, which helps enhance investors’ confidence in the company’s management quality. Optimization of governance structure is often regarded as an important symbol of standardized corporate operations, which plays a positive role in attracting institutional investors.

Contract liabilities in the first three quarters of 2025 increased by

[1][3]. The sharp growth of this indicator shows strong downstream demand and a significant increase in the company’s order backlog. The increase in contract liabilities means that customers have paid but the company has not yet delivered products or services, which provides a relatively clear support basis for future performance growth. In the machinery manufacturing industry, the status of order backlog is an important leading indicator for judging short-term performance certainty.

The company’s holding subsidiary

(57% shareholding) has deeply laid out the commercial aerospace industry chain and formed a multi-segment business matrix [1][4][5]:

Business Segment	Core Products & Technologies
Rocket Engines	Small and medium-sized liquid oxygen kerosene rocket engines (DE-LY-30/70), full engine test run expected in Q2 2026
Solid Boost Stages	DE-GT-1, prototype delivered and participated in maiden flight mission
Aerospace-Grade 3D Printing	Titanium/aluminum-magnesium alloy components, used for precision parts such as engine valves and satellite brackets
Large Aircraft Structural Components	C919 cabin door hinges, entered COMAC’s qualified catalog in 2025

In terms of customer expansion, Dean Aerospace has supplied commercial aerospace enterprises such as Lingkong Tianxing and Weina Xingkong in batches, and is expected to establish cooperative relationships with industry leading companies such as Tianbing Technology and Oriental Space [5]. In terms of production capacity, the Phase I 3D additive manufacturing plant has been put into operation (annual production capacity of 15 tons of titanium alloy and 50 tons of aluminum alloy), and the Phase II engine final assembly and hot test bench is expected to be completed in Q1 2026.

On the same day, capital inflows were recorded in machinery manufacturing and aerospace-related sectors. As a target with the dual concepts of

, Dean Precision Industry was driven by the sector rotation effect [1][6]. The national 15th Five-Year Plan listed commercial aerospace as a strategic emerging industry for the first time, providing policy support for this sector.

---

Judging from the trading data, the stock’s performance today shows typical limit-up characteristics [2][6]:

Indicator	Data	Market Interpretation
Turnover Rate	27.35%-29.55%	Extremely high turnover, indicating fierce chip turnover
Turnover	RMB 704 million	Significantly expanded compared to previous trading days
Closing Order Volume	24.6338 million shares	Closing order capital is approximately RMB 580 million
Amplitude	19.72%	Intraday fluctuations are severe, with obvious long-short game

According to Dragon and Tiger List data, the net trading amount is

[2]:

Seat	Purchase Amount
Kaiyuan Securities Xi’an West Street	RMB 63.0437 million
Institutional Seat 1	RMB 35.8872 million
Institutional Seat 2	RMB 27.7268 million

Seat	Selling Amount
Institutional Seat 1	RMB 18.7669 million
China Galaxy Securities Guangzhou Yuejiang Middle Road	RMB 18.4089 million
Institutional Seat 2	RMB 15.3042 million

From the Dragon and Tiger List data, it can be observed that institutional seats appear on both the buying and selling sides, which may be a position adjustment behavior rather than a large-scale withdrawal. The large net purchase of Kaiyuan Securities Xi’an West Street shows that hot money or main capital has actively entered the market, forming support for the stock’s short-term trend.

According to main capital flow data, Dean Precision Industry has a main capital net inflow of approximately

over the past 5 days, showing a continuous inflow trend [6]. The continuous inflow of main capital provides capital support for the stock price, but it is necessary to pay attention to the sustainability of the inflow.

---

The company’s main business is focused on the field of precision machinery manufacturing [3]:

Business Segment	Proportion
Mechanical Transmission and Transmission Connectors	68.07%
Customized Non-Standard Mechanical Parts	19.76%
Other Businesses	12.17%

The company’s products are mainly used in fields such as industrial automation, wind power, rail transit, and engineering machinery, with a relatively stable customer base.

Indicator	Value	YoY Change
Operating Revenue	RMB 452 million	+14.41%
Net Profit Attributable to Shareholders	-RMB 32.4604 million	+12.54% (Loss narrowed)

Judging from the financial data, the company’s revenue side maintains steady growth, but the net profit is still in a loss-making state. The 12.54% narrowing of the loss indicates that the operating condition has improved, but it remains to be seen when the company will turn profitable. It is worth noting that the company is currently unprofitable, and its RMB 3.4 billion market capitalization faces certain valuation pressure.

As of December 31, 2025, the number of shareholders of the company is

, a decrease of 0.49% from the previous period; the average number of tradable shares per shareholder is 5,312 shares, an increase of 0.49% from the previous period [3]. The slight increase in chip concentration may be related to the position building of institutional capital before today’s sharp rise.

The market is concerned about whether Dean Aerospace may be listed independently on the STAR Market. Supporting factors include strong business independence, alignment with the positioning of the STAR Market, and the parent company’s motivation for spin-off; risk barriers mainly lie in the relatively small revenue scale and the need to meet the listing standards of the STAR Market [5]. If Dean Aerospace is successfully spun off and listed, it is expected to bring equity appreciation benefits to the company.

---

From a technical analysis perspective, the stock’s limit-up today was accompanied by a golden cross of the MACD indicator, showing a positive signal in the short-term technical outlook [2]. However, the following points need to be noted:

• Excessively High Turnover Rate
  : A turnover rate of 27%-29% indicates fierce chip turnover, with obvious characteristics of short-term capital game
• Average Quality of Limit-Up Closing
  : The closing order amount of RMB 580 million is relatively small compared to the turnover, and it may face greater selling pressure on the next day
• Large Amplitude
  : An intraday amplitude of 19.72% indicates intense long-short game

Price Type	Price Range	Description
Limit-Up Price	RMB 23.54	Today’s limit-up price (20% limit for ChiNext)
Initial Support Level	RMB 21.50-22.00	Area near the 5-day moving average
Strong Support Level	RMB 19.60-20.50	10-day moving average and previous consolidation platform
Resistance Level	RMB 25.00-26.00	Intensive area of previous highs

---

Risk Type	Details	Risk Level
Performance Risk	The company is still in a loss-making state, with limited fundamental support	Medium-High
Valuation Risk	RMB 3.4 billion market capitalization is relatively high without profitability, with potential concept speculation bubble	Medium-High
Turnover Risk	A turnover rate of over 27% indicates extremely unstable chips	Medium
Short-Term Game Risk	Closing order amount is relatively small compared to turnover, with average limit-up closing quality	Medium
Sector Pullback Risk	The aerospace sector has seen a large increase in the early stage, with adjustment pressure	Medium-Low

Opportunity Type	Details	Focus Points
Progress of Aerospace Business	Dean Aerospace’s business is substantially advancing, with capacity expansion	Key nodes in Q1/Q2 2026
Increase in Order Backlog	Contract liabilities up 66% YoY, providing support for performance	Order conversion status
Governance Improvement	Revision of 34 systems to improve governance level	Subsequent implementation effect
Institutional Capital Attention	Dragon and Tiger List shows institutional net purchases	Capital sustainability
Policy Support	Commercial aerospace is listed as a strategic emerging industry	Release of policy dividends

Part of the information comes from AI-generated analysis [1], and shall be subject to the company’s official announcements. The specific revenue data of Dean Aerospace’s business has not been disclosed in detail, and the milestone timeline of the aerospace business is uncertain [5]. Investors should pay attention to the company’s subsequent announcement disclosures when making decisions.

---

Time Horizon	Assessment	Reasons
Short-Term (1-3 Days)	Cautious	Excessively high turnover rate, great profit-taking pressure from short-term capital
Medium-Term (1-4 Weeks)	Bullish-Tilted	Increase in order backlog, progress of aerospace business, sector rotation
Long-Term	Wait-and-See	Need to observe the implementation of Dean Aerospace’s business and the company’s performance improvement

---

Dean Precision Industry’s limit-up today is the result of

: optimized governance structure releasing positive signals, a sharp increase in contract liabilities showing sufficient orders, substantial layout of commercial aerospace business, and support from institutional capital entry. However, behind the stock’s limit-up, there is a characteristic that —the company is still in a loss-making state, the revenue contribution from aerospace business is limited, and the high turnover rate indicates fierce chip turnover.

From an investment perspective, this stock is a typical high-risk and high-return target, suitable for investors with higher risk preferences. For investors already holding positions, it is recommended to set reasonable stop-profit and stop-loss levels; for waiting investors, it is advisable to be cautious about chasing highs, and wait for a pullback to the support level before re-evaluating. It is necessary to focus on the turnover situation at tomorrow’s opening, the overall performance of the aerospace sector, and the company’s subsequent announcements.

---

Disclaimer: This report provides information collection, analysis and market background to support decision-making, and does not constitute investment advice, trading recommendations or financial guidance. The analysis aims to objectively present factual information, market background and risk identification. The market has risks, and investment requires caution.