Core Viewpoint - The commercial aerospace concept stocks continue to decline, with significant drops in share prices for companies like Asia Pacific Satellite, Goldwind Technology, and Xirui, amidst the backdrop of China's submission to the ITU for frequency and orbital resources for 203,000 satellites, indicating a strategic move in the space resource competition among major nations [1][1][1] Group 1: Stock Performance - Asia Pacific Satellite (01045) fell by 10.48%, trading at 4.27 HKD [1] - Goldwind Technology (002202) decreased by 5.71%, trading at 14.03 HKD [1] - Xirui (02507) dropped by 2.52%, trading at 59.85 HKD [1] Group 2: ITU Submission and Implications - China submitted an application to the ITU for 203,000 satellites, covering 14 satellite constellations, including low and medium Earth orbit satellites [1] - Experts indicate that the satellite system's international declaration and coordination process is lengthy, and the current submission is a routine operation [1] - The actual approval may be less than the submitted amount due to international coordination, frequency conflicts, and orbital capacity limitations [1] Group 3: Industry Outlook - The submission raises the potential demand ceiling for domestic commercial aerospace [1] - The industry may accelerate development under the leadership of national teams like the Radio Innovation Institute [1] - Japan's proposal for a "Japanese version of Starlink" indicates increasing competition for space resources among major countries [1]