商业航天迎来“国家队”时刻，卫星产业ETF(159218)气势如虹十连阳创历史新高！

Core Viewpoint - The commercial aerospace industry is experiencing a historic breakthrough with the upcoming first flight of the reusable Long March 12A rocket, marking China's entry into the competitive arena of reusable rockets, alongside the successful launch of Blue Arrow Aerospace's Zhuque-3 rocket, pushing the industry towards a "low-cost, high-reusability" era [1][2]. Group 1: Market Response - The satellite sector has shown remarkable performance in the secondary market, becoming one of the strongest themes in A-shares recently [2]. - As of December 22, the first satellite industry ETF (159218) surged by 1.73%, achieving an impressive "ten consecutive days of gains" and setting a new record for historical highs at 28 times this year [3]. - The enthusiasm in the market is reflected not only in stock prices but also in significant capital engagement, with leading stock China Satellite hitting a new high in over a decade on December 22 [5]. Group 2: Underlying Logic - The substantial investment in the satellite industry is driven by a threefold breakthrough in the industry, involving institutional, technological, and application changes, leading to a fundamental transformation of its fundamentals [6]. - Institutional breakthrough: The national top-level design has opened up space for the industry, with the National Space Administration's action plan for 2025-2027 aiming for high-quality development in commercial aerospace and establishing a national development fund to attract patient capital [6]. - Technological breakthrough: Reusable rockets are key to reducing launch costs, which have been a major bottleneck for large-scale satellite internet deployment. The successful first flight of Long March 12A will validate this technological route and boost confidence in overcoming capacity bottlenecks [7]. - Application breakthrough: The market for satellite communications is expanding, with a national goal to develop over 10 million satellite communication users by 2030, transitioning from specialized networks to public consumer markets [9]. Group 3: Investment Value - For ordinary investors, the satellite industry presents challenges due to its long supply chain and high professional barriers. The satellite industry ETF (159218) serves as a convenient tool, covering core listed companies across the entire industry chain from rocket launches to satellite manufacturing and ground equipment [10]. - The ETF has become a key vehicle for market funds to invest in "new space infrastructure," supported by a confluence of policy, technology, and application trends, indicating a strong vote for the commercialization of aerospace from "0 to 1" to "1 to N" [10].