中信建投：我国商业航天产业进入快速发展期

Core Viewpoint - The frequency of satellite launches in China has significantly increased since the end of July 2025, indicating a rapid development phase in the country's satellite internet network [1] Group 1: Launch Frequency and Network Development - The launch interval for the first five groups of satellites has decreased from one to two months to just three to five days for the fifth to seventh groups, showcasing an accelerated network deployment [1] - The initiation of the Qianfan satellite constellation launch bidding has begun, further contributing to the rapid development of satellite networks [1] Group 2: Commercial Space Industry Growth - Hainan Commercial Launch's launch sites 1 and 2 have commenced regular launch operations, indicating a shift towards more consistent launch schedules [1] - The first flights of large private liquid rockets are expected to occur soon, and reusable rocket experiments are progressing steadily [1] - Private rocket companies are beginning IPO counseling, marking a significant step in the commercialization of the space industry in China [1]