According to an announcement by China Satellite Communications, the company’s stock closed at the daily price limit on January 6, 2026. Since December 3, 2025, the company’s stock price has risen by a cumulative 108.64%, while the Shenwan Defense Industry Index rose by 23.92% over the same period. and the SSE A-Share Index rose by 5.31%. The short-term increase in the company’s stock price has outpaced the gains of both the industry and the SSE Index during the same period, indicating signs of overheated market sentiment and irrational speculation. The “hot potato” effect is particularly evident in the trading of the company’s stock, posing significant trading risks and the potential for a sharp short-term decline. The current share price is at an all-time high and has become severely detached from the company’s fundamentals, posing a risk of a sharp short-term decline. Trading carries significant risks for investors. We urge all investors to be aware of the risks associated with secondary market trading, make rational decisions, and invest prudently.