Xin Hua Cai Jing·2025-12-01 02:21Core Viewpoint - The report from CITIC Securities highlights the accelerating industrialization of computing satellites as a new infrastructure, driven by domestic policy developments and global technological advancements [1] Industry Analysis - The global industrialization process of computing satellites is progressing steadily, with major technology companies actively investing in this area [1] - The concept of space computing is becoming a consensus among industry players [1] Domestic Policy Developments - The National Space Administration has issued the "Action Plan for Promoting High-Quality and Safe Development of Commercial Space (2025-2027)," providing clearer guidelines for the industry [1] - Significant easing of entry requirements for companies developing commercial satellites, eliminating the need for weapon equipment research and production licenses [1] - Establishment of a national commercial space development fund to guide and cultivate patient capital [1] Supply and Market Dynamics - The opening and sharing of national space infrastructure are expected to reduce construction pressures for companies [1] - Expansion of government procurement to promote the participation of commercial rockets and satellites in national space missions, thereby increasing market opportunities [1] - The acceleration of satellite constellation launches in China indicates a faster pace of industrialization [1] Investment Recommendations - The report suggests paying attention to companies related to computing satellites as potential investment opportunities [1]