星座常态化密集型组网，集群推动产业化落地加速

Investment Rating - Industry rating: Recommended [2] Core Insights - The "Qianfan Constellation" is entering a normalized and intensive networking phase, with the successful launch of the Qianfan Polar Orbit 02 satellites increasing the number of satellites in orbit to 36. The constellation aims to be completed by 2030 [2][7] - The government of Songjiang District has issued a development action plan for the satellite internet industry, targeting a production capacity of 300 satellites per year and an operational satellite count of around 600 by 2027, with an industry scale of approximately 10 billion yuan [3][8] - The report highlights the transition from traditional semiconductor materials to silicon-based chips for phased array antennas, which is expected to significantly reduce costs [10] Summary by Sections Section 1: Qianfan Constellation Development - The Qianfan Constellation will consist of three deployment phases, with the first phase involving 648 satellites for regional coverage, the second phase expanding to 1,296 satellites for global coverage, and the third phase exceeding 15,000 satellites for diverse service integration [7] - The successful launch of the Qianfan Polar Orbit 02 satellites demonstrates the maturity of China's "one rocket multiple satellites" launch technology, which allows for efficient satellite deployment [2][7] Section 2: Satellite Internet Industry Growth - The action plan from the Songjiang District government aims to create a satellite internet industry cluster, with a focus on satellite manufacturing, operational services, and innovation [3][8] - The plan includes the establishment of a G60 satellite internet industry base and aims to create a distinctive industrial park to enhance the development capabilities of small and medium-sized enterprises [8] Section 3: Investment Opportunities - Beneficiaries of the transition to silicon-based chips for phased array antennas include listed companies such as Chengchang Technology and Guobo Electronics [10] - The report identifies potential investment opportunities in the satellite internet sector, including companies involved in satellite manufacturing, communication infrastructure, and related technologies [11]