CGWS(SZ:002939) 智通财经网·2025-08-29 06:29Core Viewpoint - The report from Great Wall Securities emphasizes the shift towards satellite internet, focusing on large-scale constellations of low Earth orbit satellites, which is crucial for commercial operations and the issuance of relevant licenses [1][3]. Group 1: Policy and Regulatory Developments - The Ministry of Industry and Information Technology (MIIT) issued the "Guiding Opinions" on August 27, 2025, aimed at optimizing business access and promoting the development of the satellite communication industry [1]. - The "Guiding Opinions" outlines a vision for 2030, including improved management systems, enhanced infrastructure, and the integration of satellite communication into the new development framework, targeting over ten million users [2]. Group 2: Industry Growth and Opportunities - The report highlights three major reform initiatives: supporting the rapid development of low Earth orbit satellite internet, enabling telecom operators to connect terminal devices directly to satellites, and conducting commercial trials for satellite IoT [2]. - The satellite internet sector is entering a phase of intensive networking, with multiple launches by China Star Network occurring within a short timeframe, indicating accelerated progress in constellation deployment [4]. Group 3: Investment Opportunities - The report indicates a dual-driven approach in the satellite internet commercial space, with both policy and industry support fostering growth, and highlights ongoing IPO activities in the sector [5]. - Suggested investment targets include companies involved in satellite payloads, platforms, ground equipment, and satellite operation services, such as Shanghai Hanyun, Aerospace Electronics, and China Satellite [6][7].