卫星物联网商用试验开启，关注卫星互联网产业投资机遇

Investment Rating - The report maintains a "Positive" investment rating for the industry [7] Core Insights - The launch of commercial trials for satellite IoT services is expected to enrich the satellite communication market supply and support the healthy development of emerging industries such as commercial aerospace and low-altitude economy [2][4] - With the reduction in launch costs and supportive policies, the commercial aerospace industry chain in China is anticipated to experience comprehensive development [2][4] - The satellite internet industry chain has begun to take shape, with upstream satellite manufacturing and launch segments likely to benefit first, while communication network construction equipment and application terminals will gradually be implemented [2][4] Summary by Sections Event Description - The 2025 China 5G+ Industrial Internet Conference was held in Wuhan, where the Ministry of Industry and Information Technology officially launched commercial trials for satellite IoT services [4] Event Commentary - The initiation of satellite IoT commercial trials represents a proactive exploration of new satellite communication services in the commercial sector [9] - The establishment of key departments is expected to coordinate the development of the commercial aerospace industry, enhancing administrative efficiency in satellite operation licensing and launch approvals [9] - The upcoming launch of the Zhuque-3 rocket, which is designed for large satellite constellations, is anticipated to significantly lower launch costs, facilitating the scale development of commercial aerospace [9]