广州，剑指中国商业航天新一极

Group 1 - The core viewpoint of the article emphasizes Guangzhou's plan to establish itself as a global hub for commercial aerospace by 2035, focusing on developing reusable rocket technology and fostering a complete commercial aerospace ecosystem [1][2] - The plan includes the construction of key facilities such as the liquid rocket assembly and testing base in Nansha and the Huangpu Xinghe Power Rocket Assembly Base, aimed at developing large thrust, reusable liquid rockets [1] - The article highlights the support for satellite constellation projects like the "Wuyang Series Constellation" and "Bay Area Intelligent Connectivity," which will drive the development of satellite manufacturing, rocket launches, and operations, thereby attracting talent and capital to Guangzhou [1] Group 2 - The national trend supports the development of commercial aerospace, elevating it to a pillar industry alongside new energy vehicles and integrated circuits, as outlined in the 14th Five-Year Plan [2] - A report from Guojin Securities indicates that the commercial rocket industry is entering a rapid development phase, with the supply chain comprising propulsion systems, rocket structures, and control systems benefiting from increased demand [2] - The investment strategy suggests a "barbell" approach, recommending investments in state-owned system integrators and private sector leaders in core components and supporting areas related to commercial rockets and satellite constellations [2]