Zhejiang Chengchang Technology Co. Ltd.

Against the backdrop of crowded trading in A-share technology hot sectors and amplified short-term volatility, institutions recommend that investors shift their attention to three major sectors: the low-altitude economy, humanoid robots, and commercial aerospace, seizing pullback windows to position at lower levels. CICC believes that the intensive rollout of low-altitude economy policies is resonating with technological iteration across the industry chain, and expectations for an industry inflection point are gradually strengthening. Guoyuan Securities analyst Gong Siwen suggests focusing on whole-machine names such as Wanfeng Auto Wheel, EHang, JOUAV, and Lvneng Huichong, as well as core component names such as Zongshen Power, Wolong Electric Drive, Yingliu Shares, and Inpower. On the humanoid robot front, Unitree Robotics recently entered the capital market and is expected to provide a clearer valuation anchor for the sector, driving a shift in capital from pure thematic speculation to growth-based pricing. Huayuan Securities analyst Zhao Mengni suggests focusing on Everwin Precision, Foresight Technology, Sanhua Intelligent Controls, Tuopu Group, Leader Harmonious Drive, Shuanghuan Transmission, Hengli Hydraulic, Zhejiang Rongtai, Moons' Electric, and Zhaowei Machinery & Electronics. In commercial aerospace, the Long March 10B and Zhuque-3 have successively completed successful recoveries, and reusable rocket technology is maturing. With falling launch costs resonating with demand for low-orbit constellation networking, industrialization is expected to accelerate. Guotai Haitong Securities analyst Yang Tianhao suggests focusing on Chengchang Technology, Tongyu Communication, Sunway Communication, Shanghai Hanxun, Aerospace Electronics, Feiwo Technology, Sirui Advanced Materials, and Western Metal Materials.

Chengchang Technology released its 2026 interim report, with net profit attributable to the parent company at 76.2953 million yuan, up 34.72% from the same period last year. Total operating revenue was 216 million yuan, a year-on-year increase of 7.33%. Net cash inflow from operating activities was 60.6539 million yuan, an increase of 141 million yuan compared to the same period last year. The latest gross margin was 83.03%, up 14.99 percentage points year-on-year, marking two consecutive years of growth. The company's asset-liability ratio was 5.51%, down 0.70 percentage points from the same period last year. Diluted earnings per share were 0.37 yuan, up 34.57% year-on-year.

In early trading on July 3, the three major A-share indices surged, with the Shanghai Composite up 0.49%, the Shenzhen Component up 0.38%, and the ChiNext Index up 0.41%. The precious metals sector continued its strength, with Zhaojin Gold and Chifeng Gold hitting their second consecutive daily limit up, and Xiaocheng Technology, Western Gold, and Shanjin International among many stocks hitting daily limit up. On the news front, weaker-than-expected US June non-farm payroll data dampened expectations for Federal Reserve rate hikes, and Goldman Sachs' co-head of global commodities research said global central bank demand will continue to drive precious metals prices back up to near 5,000 US dollars per ounce. The aerospace defence sector saw a sudden surge, with Aerospace Development, AECC Aviation Power, and Chengchang Technology among many stocks hitting daily limit up, after Liaoning Province issued the Liaoning Province 15th Five-Year Plan for Marine Economic Development, proposing to accelerate the development of marine aerospace equipment and services industries. In Hong Kong stocks, the Hang Seng Tech Index extended gains, with Kuaishou, BYD Company, and Xiaomi Group leading the advance.