华伍股份：公司商业航天业务作为规划培育业务，目前仍处于起步与布局阶段，对公司整体经营业绩影响较小

Core Viewpoint - The company is in the early stages of developing its commercial aerospace business, which currently has a minimal impact on overall performance, while facing various uncertainties and risks related to technology, market, R&D cycles, and industry policies [2] Group 1: Business Development - The company is exploring opportunities in satellite data cross-border service trade, particularly in relation to the Wenchang International Aerospace City [2] - The commercial aerospace business is still in the planning and layout phase, indicating that it is not yet fully operational [2] Group 2: Market Opportunities and Risks - The company acknowledges potential market opportunities arising from the facilitation of cross-border data flow post-border closure, including participation in onshore processing and value-added services for international satellite data [2] - There are multiple uncertainties that could affect the development of this business, such as initial investment not meeting expectations and development progress falling behind schedule [2] - The company will continue to monitor industry dynamics and policy opportunities, including the construction of Wenchang International Aerospace City and data cross-border flow in Hainan Free Trade Port, while cautiously assessing potential market opportunities [2]