China Spacesat(SH:600118) Xin Lang Cai Jing·2026-01-12 02:31Core Viewpoint - The aerospace industry index in China has seen a significant increase, with a notable rise in several key stocks, indicating a bullish trend in the sector driven by increased satellite launch demands and advancements in low-cost launch technologies [1]. Group 1: Market Performance - As of January 12, 2026, the CN5082 aerospace industry index surged by 3.83%, with major stocks like Guobo Electronics rising by 15.17%, Xinjingang by 13.68%, and Guoguang Electric by 11.62% [1]. - The Aerospace ETF (159227) also experienced a rise of 3.57%, marking its third consecutive increase, with the latest price reported at 1.62 yuan [1]. Group 2: Satellite Launch Developments - On January 11, the International Telecommunication Union (ITU) announced that China submitted an application for frequency and orbital resources for 203,000 new satellites, covering 14 satellite constellations, including low and medium Earth orbit satellites [1]. - This submission is noted as the largest international frequency application action by China to date [1]. Group 3: Industry Insights - Zhonghang Securities suggests that the unprecedented increase in satellite launch demand will be a pivotal change in the industry, with reusable rocket technologies enabling low-cost launches [1]. - The report recommends focusing on companies that have achieved large-scale launches or are in the research phase with first-mover advantages, as well as those involved in core rocket components or systems, and enterprises transitioning from military to civilian applications in rocket manufacturing [1]. Group 4: ETF Composition - The Aerospace ETF (159227) closely tracks the CN5082 index and encompasses key segments of the aerospace supply chain, including aerospace equipment, satellite navigation, and new materials, with commercial aerospace concepts accounting for 70% of its weight [1]. - The top ten holdings include industry leaders such as Aerospace Development, China Satellite, Aerospace Electronics, AVIC Avionics, and AVIC High-Tech [1].