垣信卫星采购7次一箭多星火箭发射服务，总预算达13.36亿元

Investment Rating - The industry investment rating is "Accumulate (Maintain)" [1] Core Viewpoints - The report highlights the significant procurement announcement by Shanghai Yuanxin Satellite Technology Co., Ltd. for the 2025 launch services, with a total budget of 1.336 billion RMB [1][5] - The procurement involves 7 rocket launch services, including configurations for launching 94 satellites, indicating a robust demand for low Earth orbit satellite deployment [5] - The report anticipates a high prosperity cycle for China's commercial aerospace industry, driven by multiple factors accelerating the low Earth orbit satellite launch process [5] Summary by Sections Industry Trends - The report notes a projected increase in the commercial aerospace industry, with a focus on the low Earth orbit satellite sector [5] - It mentions the first round of bidding in February failed due to insufficient supplier participation, highlighting the competitive nature of the industry [5] Procurement Details - The procurement includes 4 launches of "one rocket, ten satellites" and 3 launches of "one rocket, eighteen satellites" [5] - The budget for the project is set at 1.336 billion RMB, with specific price caps for each launch configuration [5] - The report outlines the technical requirements for the rockets, emphasizing the need for proven flight experience [5] Investment Recommendations - The report suggests focusing on key enterprises across the industry chain, including satellite assembly, aerospace support, and satellite operation and application [5] - Specific companies to watch include China Satellite, Fudan Microelectronics, and China Satcom among others [5]