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600879.SH · A-shares

600879.SH Aerospace Electronics: TT&C, guidance, EW

Aerospace Electronics CAST-9 electronics (TT&C/guidance); frequent CSI defense weight — earnings swing with theme flows.

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Snapshot

Price (~)
CNY 14.38
Market cap (~)
CNY 47.4B
Revenue (latest FY/cum)
CNY 13.9B
Latest NI (attr.)
CNY 40.6M
As of 2026-09-25

As-of 2026-09-25 (weekly refresh; equities aligned to §A. Missing series are N/A/null. Not investment advice.)

Thesis

Aerospace Electronics CAST-9 electronics (TT&C/guidance); frequent CSI defense weight — earnings swing with theme flows. Price ~¥14.38, mkt ~¥474B; PE-TTM N/A.

Business

Model: space electronics TT&C/guidance/EW. Edge: CAST-9. Strategy: program content + civil.

Value chain

Space electronics; upstream devices; downstream primes. Risks: programs; GM; receivables.

Corporate events

Events

Events
DateEventDetailNote
持续航天电子平台九院相关指数权重
As of 2026-09-25

Valuation

Theme weight; look through to assets/orders when NI swings.

Valuation snapshot

Valuation snapshot
MetricValueNote
现价14.38东方财富行情
总市值474.44 亿f116
PE-TTMN/A（亏损或不可用）亏损则为 null
PB2.28x行情字段
As of 2026-09-25

Valuation · ~3y QE

Interactive chart available in the reader.

QE close×shares/TTM NI; div yield null without source · As of 2026-09-25

Price · ~3y QE

Interactive chart available in the reader.

Eastmoney monthly K aligned to quarter-end · As of 2026-09-25

Financial trends (~24m)

Single-quarter revenue/NI from Eastmoney cumulative filings via differencing; gross margin is reported period GM. Null when missing.

Quarterly revenue · 8Q

Interactive chart available in the reader.

Eastmoney cumulative revenue differenced; null when missing · As of 2026-09-25

Gross margin · reported

Interactive chart available in the reader.

Eastmoney reported GM (period) · As of 2026-09-25

Quarterly NI · 8Q

Interactive chart available in the reader.

Eastmoney cumulative NI differenced; PE null if TTM≤0 · As of 2026-09-25

Financial health

Financial health
ItemValueNote
经营现金流（约，每股×股本）-23.46 亿MGJYXJJE×股本估算，非审计
资产负债率50.2%最新报告期
ROE（加权）0.19%报告期
审计/持续经营以最新年报审计意见为准未在本包重审
As of 2026-09-25

Operations

Deliveries/contracts/R&D.

Operating snapshot

Operating snapshot
ItemValueYoY/noteNote
最新报告期2026-Q2—东方财富 MAINFINADATA
单季营收26.87 亿见收入图 YoY累计拆单季
单季归母净利0.09 亿见利润图累计拆单季
毛利率（报告期披露）21.8%—销售毛利率字段
赛道航天装备—申万国防军工二级语境
As of 2026-09-25

Competition

Defense market share is usually undisclosed; share charts use nulls.

Market share

Interactive chart available in the reader.

Usually undisclosed for defense — nulls · As of 2026-09-25

Peer share

Interactive chart available in the reader.

Null without named source · As of 2026-09-25

Peers

Peers
NameRoleNoteStrengthWeakness
航天电子测控制导中体系波动
中国卫星卫星中制造—
航天电器连接器中元器件—
As of 2026-09-25

Management

Management / control

Management / control
RoleNameSince24m change
控股股东航天科技集团体系持续央企
经营层以最新年报披露为准持续—
As of 2026-09-25

Stability: CASC system.

Outlook

Watch revenue, NI margin, OCF.

Scenarios

Scenario Condition Implication
Bull Orders/deliveries beat Earnings + multiple
Base Steady production Hold/watch recognition
Bear Destock/budget slip Theme + earnings drawdown

Risks

Orders; profits; valuation; competition.

Tracking

  1. Quarterly revenue/NI YoY and contract liabilities
  2. Gross margin, inventory, receivables
  3. OCF vs CapEx
  4. Material reorg/program disclosures
  5. Defense index relative performance / crowding

References

  1. CNINFO — https://www.cninfo.com.cn/new/disclosure/stock?stockCode=600879
  2. Eastmoney quotes & MAINFINADATA
  3. Other: IR

Not investment advice.

Disclaimer: For research information only. Not investment advice or a recommendation to buy or sell.

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