天龙三号可回收火箭年底首飞！航空航天ETF天弘(159241)获资金净申购500万份，机构：万亿市场规模的新赛道即将扬帆起航

Core Insights - The Aerospace ETF Tianhong (159241) experienced a turnover of 16.3% with a trading volume of 92.72 million yuan, while the tracked CN5082 Aerospace Industry Index declined by 2.51% [1] - Notably, the Aerospace ETF Tianhong saw a net subscription of 5 million units despite the market downturn, indicating active capital inflow [1] Fund Performance - Over the past two weeks, the Aerospace ETF Tianhong's scale increased by 50.28 million yuan, with a growth of 32 million units in shares [2] - The latest net inflow for the Aerospace ETF Tianhong was 6.23 million yuan, accumulating a total of 42.73 million yuan over the last ten trading days [2] Industry Developments - The Long March 12甲 rocket successfully launched on December 23, marking a significant milestone in China's commercial space endeavors [3] - The Tianlong 3 reusable rocket, developed by Tianbing Technology, is set for its maiden flight by the end of the year, with a payload capacity of 17 tons to low Earth orbit [3] Institutional Perspectives - CITIC Securities anticipates a breakthrough in the capacity bottleneck for domestic reusable medium-lift rockets, with significant reductions in launch costs expected to accelerate the satellite and commercial space market [3] - The investment focus is shifting towards space computing and reusable rockets, with low Earth orbit communication satellite constellations currently showing strong fundamentals and order support [3]