Juli Sling's announcement extinguishes the enthusiasm for "commercial spaceflight" speculation, with the stock price hitting two consecutive limit downs. Can investors claim compensation?

The commercial aerospace concept stock Juli Siju, which saw its largest two-month increase exceeding 200%, has recently been at the center of controversy. After the company issued a clarification announcement, its stock price continuously hit the limit-down. In stark contrast to this clarification, earlier in the stock’s rise, the company frequently interacted with investors and “actively claimed” the commercial aerospace concept. So, is the stock price increase and the company’s interaction with investors merely a coincidence, or is there intentional guidance? How does the company view this?

Although during the mid-phase of the stock price increase some investors questioned the proportion of the company’s commercial aerospace business, the company did not respond directly. Has Juli Siju had any disclosure issues since December 2025? The company was previously penalized for disclosure violations.

With the stock price hitting multiple limit-downs, many investors have left messages demanding rights protection and compensation. Can investors defend their rights in cases like Juli Siju? Under what conditions can they succeed? The Daily Economic News interviewed a professional lawyer for insights.

After the clarification announcement, the stock continued to hit the limit-down, despite early active claims of “commercial aerospace”

On February 12, Juli Siju, which had seen its largest two-month increase of over 200%, hit the limit-down with a single trading halt. The order book at the close exceeded 2.6 billion yuan, a significant amount for a company with a market capitalization of 16.5 billion yuan. On February 13, the stock again hit the limit-down, with the order book once more surpassing 2.2 billion yuan.

The direct trigger for Juli Siju’s limit-down was a clarification announcement issued by the company.

On the evening of February 11, the company announced that it had recently noticed false statements circulating online by media outlets, claiming the company is a “new leader in commercial aerospace,” a “leader in rocket recovery,” and that “Juli Siju is the only A-share company officially confirmed by authorities to provide core products for this technology, and is a direct creator of the rocket recovery network,” among other claims. It also mentioned winning a 458 million yuan offshore recovery system project for Hainan rockets, with on-hand orders in the aerospace field totaling over 200 million yuan, scheduled through Q3 2026.

Juli Siju stated that it has never been interviewed by any media or individual regarding these issues, nor has it made any comments or statements about the above descriptions, emphasizing that “all such information is false.”

The company also clarified that its main products are general lifting and hoisting slings, with applications that are widely applicable. In 2025, the company secured orders in the commercial aerospace sector worth 9.9651 million yuan, with even smaller confirmed revenue for that year, accounting for less than 0.5% of total revenue. From early 2026 until the disclosure date, the total commercial aerospace orders amounted to 1.2865 million yuan, with minimal impact on the company’s operations.

However, in stark contrast to this clarification, earlier during the stock’s rise, the company repeatedly claimed on the Shenzhen Stock Exchange’s interactive platform that it was involved in “commercial aerospace,” mentioning support for domestic reusable rockets, actively seizing the historic industry opportunity, and that its products had been systematically applied in multiple aerospace projects.

On December 17 and 18, 2025, the company stated that it had provided product support for domestic reusable rockets, including the production of the first reusable capture arm, ground static test tension devices, automatic transfer devices for recovery stages, and that its products would be used in pre-launch installation, debugging, and transfer processes. Notably, December 17, 2025, marked the lowest point after a four-month decline from the high on August 18, 2025.

After December 17, 2025, the stock price ended its decline and began to rise, with the maximum increase exceeding 200% in less than two months.

During this upward trend, on January 14, 2026, the company further expressed to investors that “We are aware of the market enthusiasm for commercial aerospace. As part of our strategic layout towards the ‘stars and the sea,’ we are actively seizing this historic industry opportunity.”

These proactive responses by the company are undoubtedly interpreted by the market as a formal confirmation of involvement in the commercial aerospace concept, possibly serving as a catalyst for the stock’s sharp rise.

Investors’ doubts about the commercial aerospace business arose earlier, but the company did not respond directly

In fact, during the mid-phase of the stock’s rise, the company’s related business in commercial aerospace had already raised investor questions. For example, on January 22, an investor asked on the Shenzhen Stock Exchange’s interactive platform, “Could you tell us approximately what proportion of your business is involved in commercial aerospace? Are there many orders on hand? Are these mainly upstream, midstream, or downstream in the commercial satellite industry?”

However, the company did not directly respond to this investor, merely stating, “You can refer to the investor relations activity record sheet disclosed by the company for relevant information.”

The Daily Economic News reporter found that Juli Siju’s disclosed investor relations activity record sheet did not contain specific descriptions of the proportion of the company’s commercial aerospace business, mostly qualitative.

For example, during an institutional survey on December 18, 2025, Juli Siju mentioned, “The company provides systematic support for ground launches in commercial aerospace, with applications from production assembly to pre-launch installation, debugging, and transfer. This includes: hoisting and transfer of entire rockets, lifting and flipping of stages, flipping and transfer of star cover assemblies, satellite flipping and transfer, rocket recovery transfer, ground static test tension devices, automatic connection transfer devices for recovery stages, and recovery capture arms.”

On December 29, 2025, during another institutional survey, the company stated, “Aerospace is one of the downstream industries we are involved in. As a partner in space endeavors, we leverage our expertise to play a role. Our related technologies and product systems have formed independent, controllable technical assets, and our cooperation in the aerospace field continues to deepen and expand. Our products have been systematically applied in multiple aerospace projects, including Shenzhou, Chang’e, Long March, Tiangong, and Tianwen series, contributing to the thriving development of space activities. Recently, with the growth of commercial aerospace, we are actively extending our technological advantages to this frontier, including the production of the first domestic reusable capture arm, ground static test tension devices, automatic recovery stage transfer devices, and other applications in pre-launch installation, debugging, and transfer processes.”

Coincidentally, during the early stage of the stock’s rise in December 2025, the company interacted with investors more frequently, both on the Shenzhen Stock Exchange platform and through institutional surveys. In December 2025, Juli Siju participated in three institutional surveys, which was relatively uncommon before.

For example, on December 11, 2025, the company was surveyed by Northeast Securities, which later published a research report titled “Leading traditional slings, emerging deep-sea + commercial aerospace businesses flourish.” So, was the company’s frequent interaction with investors and mention of hot concepts during the early rise merely coincidental or intentionally guided? How does the company view this?

The Daily Economic News reporter attempted to send an interview email to the company’s board secretary listed in the 2025 semi-annual report, but the email address was invalid, and the message could not be delivered. The reporter also contacted the company’s securities affairs representative but has not received a reply as of publication.

Previously penalized for disclosure violations, lawyers warn that if the company’s disclosure is non-compliant, investors may face claims

It can be said that much of investors’ understanding of the company’s involvement in commercial aerospace stems from the company’s communication and information disclosures. Whether it was the company’s “claim” of the concept during the early stock rise or the recent clarifications, these are key sources.

In fact, the company was recently penalized by the China Securities Regulatory Commission (CSRC) for disclosure violations.

On December 18, 2025, Juli Siju received a decision from the Hebei Regulatory Bureau of the CSRC (hereafter Hebei CSRC) (Document [2025] No. 43), which ordered correction and issued a warning letter, and conducted regulatory talks with responsible persons.

According to the decision, the company was penalized for inaccurate impairment provisions for accounts receivable, delayed disclosure of government grants, and non-standard corporate governance. The responsible persons, including Chairman Yang Jianguo, General Manager Yang Chao, CFO Fu Qiang, and Board Secretary Zhang Yun, were also subject to regulatory talks.

Recently, after issuing the clarification and experiencing continuous limit-downs, some investors expressed dissatisfaction on stock forums and platforms, demanding compensation and reporting. Some even accused the company of “serious delays in clarification, untimely information disclosure, and suspected collusion to harvest retail investors’ funds,” alleging violations of disclosure regulations. Others announced intentions to report.

In this context, can investors defend their rights? Under what conditions can they legally do so?

Lawyer Wang Zhibin from Shanghai Minglun Law Firm explained that whether investors can claim rights depends on whether the company’s information disclosure behavior is illegal or non-compliant. If Juli Siju’s prior interactions involved misleading statements, or if the recent clarification was delayed, the company could be liable for disclosure violations and face investor claims. Conversely, if the company’s interactions were not misleading and the clarification complied with regulatory time limits, then investor rights protection would be difficult to support.

Wang Zhibin added that investors’ claims must meet several core conditions: first, the company must have clear illegal disclosure behavior, such as making misleading statements or failing to timely correct false information, supported by sufficient evidence or regulatory recognition; second, investors must have actual investment losses directly caused by the company’s illegal disclosure; third, investors must hold legitimate trading evidence proving they bought the stock during the period of false statements or delayed clarifications, and meet statutory claim requirements, including timely filing within the statute of limitations.

The securities litigation team at Zhixin Law Firm noted that Juli Siju’s previous statements in investor interactions and disclosures might constitute misleading statements. Although the law has removed the “penalty prior to claim” requirement, in judicial practice, without regulatory confirmation, courts may refuse to accept or dismiss such claims. Therefore, waiting for official regulatory recognition before initiating claims is more prudent.

Daily Economic News