SINOLINK SECURITIES(SH:600109) Zhi Tong Cai Jing·2025-12-29 07:21Core Viewpoint - The establishment of a dedicated regulatory body for commercial aerospace in China marks a significant step towards promoting high-quality development in the industry, with the entire supply chain expected to benefit from this initiative [1][2]. Group 1: Regulatory Developments - The China National Space Administration has set up a Commercial Aerospace Department, indicating a move towards specialized regulation in the commercial aerospace sector [2]. - The Shanghai Stock Exchange has released guidelines to facilitate the listing of commercial rocket companies on the Sci-Tech Innovation Board, which is expected to accelerate the IPO process for these companies [1][2]. Group 2: Technological Advancements - China's reusable rocket technology is nearing a breakthrough, with ongoing competition between state-owned and private enterprises [4]. - Recent launches, such as the Zhuque-3 and Long March 12 rockets, have provided critical data for future missions, despite some challenges in achieving successful recovery of rocket stages [4]. Group 3: 3D Printing in Aerospace - The aerospace sector's stringent requirements for component strength, lightweight design, and complex structures align well with the capabilities of 3D printing, which is anticipated to reshape the industry [5]. - Companies like Tianbing Technology and Star River Power are utilizing 3D printing to significantly reduce production costs and time for rocket engines, achieving reductions of 40%-50% in both cost and weight [6].