NNCC(SH:600435) Jin Rong Jie·2026-01-07 07:10Group 1 - The satellite industry is experiencing increased divergence, with the satellite industry ETF (159218) down by 1.18% while Northern Navigation hits the daily limit up [1] - Trading activity is intensifying, with a transaction volume exceeding 860 million, setting a historical high, and a net inflow of over 250 million during the trading session [1] Group 2 - According to Guojin Securities, low Earth orbit satellite resources are becoming increasingly scarce due to the "first come, first served" rule by the International Telecommunication Union, with companies like China Star Net and G60 planning nearly 30,000 satellites, creating urgent launch needs [3] - Cost is identified as a core factor limiting rocket launch efficiency, and reusable technology is essential for reducing costs in China's commercial space sector [3] - The year 2026 is anticipated to be a milestone for reusable commercial rockets, with both state-owned and private enterprises working on recovery technologies, including Long March 12A and Zhuque 3 [3] - The core value of rockets is concentrated in the engine and body structure, with 3D printing technology being adapted for complex engine structures to achieve cost reduction and efficiency [3] - The commercial space industry is poised for systematic development opportunities driven by policy, capital, technology, and strategic demand, with the satellite industry ETF (159218) serving as a key vehicle for market participation in this historic process [3]