Core Viewpoint - The commercial aerospace concept stocks in Hong Kong have experienced a significant surge, indicating strong market interest and potential investment opportunities in this sector [1] Group 1: Stock Performance - Asia Pacific Satellite (01045.HK) saw a rise of 24.82%, reaching HKD 3.47 [1] - Aerospace Holdings (00031.HK) increased by 18.33%, trading at HKD 0.71 [1] - Goldwind Technology (02208.HK) rose by 11.41%, with a price of HKD 14.94 [1]

Core Viewpoint - The commercial aerospace sector is experiencing a significant surge, with multiple stocks seeing substantial gains following the acceptance of Blue Arrow Aerospace's IPO application on the STAR Market, marking a pivotal moment for the industry [1] Group 1: Stock Performance - Asia Pacific Satellite (01045) increased by 24.82%, reaching HKD 3.47 [1] - Aerospace Holdings (00031) rose by 18.33%, trading at HKD 0.71 [1] - Goldwind Technology (02208) saw an 11.41% increase, priced at HKD 14.94 [1] Group 2: IPO Developments - Blue Arrow Aerospace's IPO application was accepted on December 31, 2025, making it the first company to be accepted under the expanded fifth set of listing standards on the STAR Market [1] - Since June 2025, several commercial aerospace companies, including Yixin Aerospace, Zhongke Aerospace, Weina Starry Sky, Tianbing Technology, and Xinghe Power, have submitted guidance materials in preparation for entering the capital market [1] Group 3: Industry Outlook - Shanxi Securities indicates that allowing companies with core technologies but no profits to list for financing suggests a governmental intent to direct funds towards the commercial aerospace industry [1] - The commercial aerospace sector is recognized as a key strategic focus for the nation, entering a new development phase with increasing strategic significance [1] - Future applications from related companies are expected to intensify, injecting long-term growth momentum into the industry chain [1]

每经AI快讯，亚太卫星(01045.HK)一度涨超12%，近两周累计涨幅接近40%。截至发稿，涨10.8%，报 2.77港元，成交额1608.24万港元。 （文章来源：每日经济新闻） ...

Group 1 - Asia Pacific Satellite (01045) has seen a stock price increase of over 12%, with a cumulative rise of nearly 40% over the past two weeks, currently trading at 2.80 HKD with a transaction volume of 18.56 million HKD [1][4] - Asia Pacific Satellite is a subsidiary of China Satellite Communications Co., Ltd., operating satellites including Asia Pacific 5C, 6C, 7, and 9, and jointly managing Asia Pacific 6D and 6E satellites, covering approximately 75% of the global population across Asia, Europe, Africa, and Oceania [1][4] - Zhongyou Securities indicates that the commercial space sector is experiencing growth opportunities, with attention on upstream and downstream enterprises in satellite manufacturing, ground equipment, and data processing, driven by technological advancements and policy support [1][4] Group 2 - The emerging field of space computing is expected to have long-term development potential, with accelerated commercialization of space technology likely leading to breakthroughs in satellite internet and remote sensing applications [1][4] - The industry ecosystem is becoming increasingly complete, and the market size is expected to continue expanding [1][4]

Group 1 - Asia Pacific Satellite (01045) has seen a price increase of over 12%, with a cumulative rise of nearly 40% over the past two weeks, currently trading at 2.77 HKD with a transaction volume of 16.08 million HKD [1] - Asia Pacific Satellite is a subsidiary of China Satellite Communications Group Co., Ltd., operating satellites such as AsiaSat 5C, 6C, 7, and 9, and providing satellite communication and broadcasting services to approximately 75% of the global population across Asia, Europe, Africa, and Oceania [1] - Zhongyou Securities indicates that the commercial space sector is experiencing growth opportunities, with attention on upstream and downstream enterprises in satellite manufacturing, ground equipment, and data processing, driven by technological advancements and policy support [1] Group 2 - The emerging field of space computing is expected to have long-term development potential, with companies likely to achieve breakthroughs in satellite internet and remote sensing applications as the commercialization of space technology accelerates [1] - The industry ecosystem is becoming increasingly complete, and the market size is expected to continue expanding [1]

Group 1 - Asia Pacific Satellite (01045) has seen a rise of over 12%, with a cumulative increase of nearly 40% over the past two weeks, currently trading at 2.77 HKD with a transaction volume of 16.08 million HKD [1] - Asia Pacific Satellite is a subsidiary of China Satellite Communications Group Co., Ltd., operating satellites such as AsiaSat 5C, 6C, 7, and 9, and providing satellite communication and broadcasting services to approximately 75% of the global population across Asia, Europe, Africa, and Oceania [1] - Zhongyou Securities indicates that the commercial space sector is experiencing growth opportunities, with attention on upstream and downstream enterprises in satellite manufacturing, ground equipment, and data processing, driven by technological advancements and policy support [1] Group 2 - The emerging field of space computing is expected to have long-term development potential, with accelerated commercialization of space technology leading to breakthroughs in satellite internet and remote sensing applications [1] - The industry ecosystem is becoming increasingly complete, and the market size is anticipated to continue expanding [1]

Group 1 - Zijin Mining (02899) rose nearly 3% after announcing the completion of the main construction and core equipment installation for the second phase of the Xizang Julong Copper Mine, marking a key step before production [1] - Asia Pacific Satellite (01045) increased over 5.4%, with a cumulative rise of nearly 30% over the past five trading days, as it operates multiple satellites under China Satcom [1] - Zhaoyan New Drug (06127) fell over 6% following an announcement that its actual controller plans to reduce holdings by up to 14.98 million shares, representing 20.0466% of his holdings and 1.99873% of the company's total share capital [1] - Zhongwei New Materials (02579) surged nearly 7% after signing a strategic cooperation framework agreement with Xinwanda for solid-state batteries [1] Group 2 - Dongyue Group (00189) rose nearly 5% as the long-term contract prices for refrigerants were confirmed, with R32 priced at 61,200 yuan/ton (+1,000 yuan) and R410A at 55,100 yuan/ton (+1,900 yuan) [2] - MicroPort Scientific Corporation (02252) increased over 1.2%, reporting that its core products' cumulative order volume exceeded 230 units [2] - Oil stocks saw gains, with CNOOC (00883) up 4.17%, PetroChina (00857) up 2.91%, and Sinopec (00386) up 1.31%, driven by a rise in international crude oil prices due to geopolitical tensions [2] - Baidu Group (09888) rose nearly 7% after announcing a partnership with Uber and Lyft to launch a robotaxi pilot project in the UK by 2026 [2] Group 3 - NIO (09866) rose over 2.4% after announcing that it successfully delivered over 40,000 units of its new ES8 model within 100 days of the official delivery start [3] - Damai Entertainment (01060) increased nearly 5%, with the total box office for the 2025 New Year’s season reaching 5.245 billion yuan as of December 28 [3] Group 4 - Copper mining stocks collectively declined, with Hudbay Minerals (HBM.US) down 4.01%, Taseko Mines (TGB.US) down 3.1%, and Ero Copper (ERO.US) down 1.64%, as international copper futures fell over 4% [5] - Some cryptocurrency-related stocks fell, with IREN Ltd (IREN.US) down 2.21% and Circle (CRCL.US) down 0.94% [5] - NIO (NIO.US) rose 4.71% in the US market, echoing its performance in Hong Kong [6] - The Nasdaq Golden Dragon Index fell nearly 1%, with major Chinese concept stocks declining, including Alibaba (BABA.US) down 2.46% and Xpeng Motors (XPEV.US) down 1.35% [6]

Group 1 - Asia Pacific Satellite (01045) has seen a nearly 8% increase, with a cumulative rise of nearly 30% over the past five trading days, currently trading at 2.55 HKD with a transaction volume of 13.74 million HKD [1] - Asia Pacific Satellite is a subsidiary of China Satellite Communications Co., Ltd., operating satellites such as AsiaSat 5C, 6C, 7, and 9, and providing satellite communication and broadcasting services to approximately 75% of the global population across Asia, Europe, Africa, and Oceania [1] - Huolong Securities reports that the 2025 government work report emphasizes "safe and healthy development" for commercial aerospace, marking a new phase of large-scale application, with expectations for explosive growth in domestic low-orbit communication satellite launches by 2026 [1] Group 2 - The acceleration of low-orbit satellite internet construction in China is driven by technological advancements and market expansion, with projections indicating that the low-orbit satellite market could exceed 100 billion to 150-200 billion RMB by 2030 [1] - The deployment of low-orbit satellite projects such as "National Network Constellation" and "Thousand Sails Constellation" is expected to enhance China's competitive position in space resource acquisition [1]

Group 1 - Asia Pacific Satellite (01045) has seen a nearly 8% increase, with a cumulative rise of close to 30% over the past five trading days, currently trading at 2.55 HKD with a transaction volume of 13.74 million HKD [1] - Asia Pacific Satellite is a subsidiary of China Satellite Communications Group Co., Ltd., operating satellites such as AsiaSat 5C, 6C, 7, and 9, and providing satellite communication and broadcasting services to approximately 75% of the global population across Asia, Europe, Africa, and Oceania [1] - According to Huolong Securities, the 2025 government work report emphasizes "safe and healthy development" for commercial aerospace, marking a new phase of large-scale application, with expectations for explosive growth in domestic low-orbit communication satellite launches by 2026 [1] Group 2 - The acceleration of low-orbit satellite internet construction in China is driven by technological advancements and market expansion, with projections indicating that the low-orbit satellite market could exceed 100 billion to 150-200 billion RMB by 2030 [1] - The deployment of low-orbit satellite constellations such as "National Network Constellation" and "Thousand Sails Constellation" is part of China's strategy to secure valuable non-renewable space resources [1]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 0.71% to close at 25,635.23 points, and the Hang Seng Technology Index decreasing by 0.30% to 5,483.01 points [2] - The total market turnover for the day was HKD 224.51 billion [2] Stock Performance - Among the Hang Seng Index constituents, 22 stocks rose while 67 fell, with Sands China Limited dropping by 4.46% to HKD 19.91 per share, JD Health down by 3.42% to HKD 56.50, and CK Hutchison Holdings decreasing by 3.35% to HKD 53.45 [2][3] - Notable declines included Midea Group down 3.05%, and Zijin Mining down 3.01% [3] Specific Stock Movements - Geely Automobile repurchased 1.956 million shares for HKD 33.14 million, totaling 22.434 million shares repurchased in the last 30 days for a total of HKD 385 million, reflecting confidence in the company's value [4] - The energy sector saw a slight increase of 0.41%, while the materials sector led declines with a drop of 2.21% [4] Satellite Industry Developments - Asia Pacific Satellite shares surged nearly 12% following the release of new listing standards for commercial rocket companies by the Shanghai Stock Exchange, which clarified the requirements for companies seeking to list on the STAR Market [6][7] - The stock closed at HKD 2.40 per share, up 10.09% [7] Commercial Space Sector Insights - The new guidelines for commercial rocket companies are expected to accelerate capital operations within the sector, transitioning from policy expectations to institutional realization [10] - The guidelines are seen as a long-term structural support for the commercial space industry, enhancing market recognition of hard tech assets on the STAR Market [10] Gold Sector Performance - The gold sector faced significant declines due to a pullback in gold prices, with major companies like China National Gold Group and Zijin Mining experiencing drops of 5% or more [11][12] - The domestic gold price on the SHFE closed at CNY 1,007.18 per gram, down 0.91% [11] Market Outlook - UBS forecasts that the upward trend in the Chinese market is likely to continue through 2026, driven by advanced manufacturing and technological self-reliance as new growth engines [13]