Feiwo Technology Issues Risk Warning: Commercial Aerospace Business in Initial Stage

On January 5, Feiwo Technology's (stock code: 301232) stock price surged again, with gains exceeding 30% over the past two trading days and more than 200% over the past month. In the evening of January 5, Feiwo Technology disclosed an announcement regarding abnormal stock trading fluctuations, responding to the recent high market attention on the commercial aerospace concept.

"At this stage, the company's primary business remains the R&D, production, and sales of high-strength fasteners for wind power, while actively expanding fastener and component businesses in sectors such as aerospace and gas turbines," stated Feiwo Technology. The company noted that its major clients in the commercial aerospace field include Beijing Galaxy Power Equipment Technology Co., Ltd., Beijing Tianbing Technology Co., Ltd., Anhui Jiuzhou Yunjian Aerospace Technology Co., Ltd., and Landspace Technology Co., Ltd. The products provided primarily include components such as fasteners, sheet metal parts, and pipeline components, which are used in rocket structures and engines.

Feiwo Technology highlighted the risks, stating that its commercial aerospace business is currently in the initial stage. In 2025, the revenue from this business segment was approximately 1.23 million yuan (excluding revenue from the aviation segment), accounting for 0.05% of the total revenue (unaudited).

On December 30, 2025, Feiwo Technology completed the acquisition of a 60% equity stake in Chengdu Xinshan Aerospace Technology Co., Ltd. (hereinafter referred to as "Xinshan Aerospace"). It is understood that Xinshan Aerospace's commercial aerospace revenue in 2025 was approximately 10.81 million yuan (unaudited, excluding revenue from the aviation segment). As the acquisition of Xinshan Aerospace's equity did not meet the company's board of directors review threshold, Feiwo Technology did not disclose it separately.

The announcement shows that Xinshan Aerospace's business scope primarily includes additive manufacturing; manufacturing and sales of additive manufacturing equipment; 3D printing services; mold manufacturing and sales; metal cutting and processing services; metal surface treatment and heat treatment processing; and R&D of new material technologies. Its main business is metal 3D printing services, with products including liquid rocket engine components such as injectors, combustion chambers, converging-diverging sections, expansion sections, and turbo pumps; as well as aviation engine blades and other metal 3D printed components.

Xinshan Aerospace's major clients include Beijing Tianbing Technology Co., Ltd., CAS Space Technology Co., Ltd., i-Space Technology Group Co., Ltd., Hefei Xinghuo Space Technology Co., Ltd., Xi'an Juqing Technology Co., Ltd., Qingdao Xingchen Hangxian Technology Co., Ltd., and Shanghai Dahang Yueqian Aerospace Technology Co., Ltd.