Space Development: Stock price experiencing abnormal fluctuations, controlling shareholder plans to continue reducing shareholding.

Aerospace Development announced that the company's stock has deviated by over 20% for three consecutive trading days, indicating abnormal fluctuations. In the first three quarters of 2025, the company's revenue was 1.697 billion yuan, and net profit was -489 million yuan due to an increase in ship deliveries compared to the previous year. Aerospace Tianmu Satellite Technology Co., Ltd., a subsidiary, accounted for less than 1% of the revenue. The actual controller did not buy or sell the company's stocks, while the controlling shareholder reduced their holdings by 12.26 million shares, leaving 7.3076 million shares, with plans to further reduce them at an opportune time. The company warns of risks such as a large difference in P/E ratio compared to the industry and deviation of the stock price from the fundamentals.