证 券 研 究 报 告 发射计算机行业重大事项点评 事项： 太空计算星座全球首发，我国开启天算时代 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040001 2025 年 5 月 14 日，长征二号丁运载火箭成功将太空计算卫星星座首批一轨 12 颗卫星送入预定轨道，发射任务取得圆满成功。 评论： 重点公司盈利预测及估值情况 | 公司 | 市值 | | EPS | PE | | PS | | | --- | --- | --- | --- | --- | --- | --- | --- | | | （亿元） | 2024A | 2025E | 2024A | 2025E | 2024A | 2025E | | 软通动力 | 553.6 | 0.2 | 0.4 | 306.9 | 140.3 | 1.8 | 1.6 | | 光迅科技 | 346.5 | 0.8 | 1.4 | 52.4 | 32.1 | 4.2 | 3.1 | | 中国卫星 | 312.1 | 0.0 | 0.0 | 1117.9 | 591.3 | 6.1 | 5.6 | | 中 ...

关文灵(右)为冬樱花种子开封。柏斌 摄 来源：中国新闻网 中新网云南玉溪5月19日电 (柏斌)18日，遨游太空的云南冬樱花种子在云南省玉溪市华宁县播种，标志 着樱花太空育种迈出关键一步。 2024年9月27日，中国首颗可重复使用返回式技术试验卫星——实践十九号卫星，在酒泉卫星发射中心 由长征二号丁运载火箭发射升空。10月11日，卫星返回舱在内蒙古东风着陆场成功返回。云南万家红园 艺有限公司精心挑选的220克(1800粒)云南冬樱花种子随行"回家"。2025年4月11日，该批冬樱花种子在 华宁县正式交接。 工作人员进行播种。柏斌 摄 云南万家红园艺有限公司董事长王云赋介绍，这批种子播种后，在科学养护下，大约半个月就可以破土 出苗，苗高1米左右即可进行移栽培植，预计3年后就能绽放出绚丽的花朵。 王云赋表示，今后的重点工作是与项目参与单位紧密合作，对其生长过程进行全方位跟踪观察记录、稳 定性观察、评价比较等一系列严格科学的测试，从中筛选出花色、花型、花期、抗逆性等性状更优异的 新品种。 参与项目合作的云南农业大学教授关文灵表示，下一步将运用形态学、细胞学、生理生化检测、分子生 物学等方法，对变异植株进行深入研究，以 ...

Core Points - The successful landing of the Shenzhou 19 manned spacecraft marks a significant achievement in China's space exploration, with astronauts spending 183 days in space and completing various missions [1] - The variety of food available to astronauts has increased significantly, with options including traditional dishes and innovative food production methods [3][5] Group 1: Food Variety and Innovations - Astronauts now have access to a diverse range of foods, including stir-fried rice, dumplings, and even ice cream, showcasing advancements in space food technology [1][3] - NASA's "Deep Space Food Challenge" has led to innovative food solutions, such as using carbon dioxide exhaled by astronauts to produce alcohol and developing systems to grow vegetables and insects in space [3][5] Group 2: Food Restrictions in Space - Certain foods, like Brussels sprouts, are prohibited in space due to their potential to cause gas, which poses a risk in the confined environment of a spacecraft [5][7] - Foods that can create crumbs or liquid, such as bread and juicy fruits, are also restricted to prevent contamination and hazards in microgravity [10][11] Group 3: Taste Preferences in Microgravity - The microgravity environment affects astronauts' taste and smell, leading to a preference for stronger flavors, such as spicy sauces [11][14] - The use of liquid seasonings instead of solid ones is common to avoid issues with floating particles in the spacecraft [10][12]

Core Viewpoint - The launch of China's first integrated orbital computing satellite constellation, "Three-Body Computing Constellation," marks a significant advancement in space computing capabilities, aiming to enhance data processing efficiency in various applications [1][2]. Group 1: Naming and Concept - The term "Three-Body" is derived from Newton's "Three-Body Problem," representing the complex interactions among multiple objects, akin to celestial bodies [2]. - The "Three-Body Computing Constellation" is classified as a fourth type of artificial satellite, focusing on computational tasks rather than traditional communication, navigation, or remote sensing [2][3]. Group 2: Purpose of Space Computing - Traditional satellite data processing involves sending data back to Earth, which is limited by ground station resources and bandwidth, resulting in low data transmission efficiency [4]. - The "Three-Body Computing Constellation" aims to perform data processing in orbit, allowing for immediate transmission of processed results to Earth, thereby expanding the boundaries of space applications [4][5]. Group 3: Technical Specifications and Capabilities - The initial launch includes 12 computing satellites, which are the first step in building a constellation with a total computing power of 1000 Peta Operations Per Second (POPS) [5]. - The onboard intelligent computing system enhances satellite computing power from Tera to Peta scale, achieving a 10 to 100 times improvement [5]. - The constellation will utilize an 8 billion parameter space-based model, enabling autonomous multi-source remote sensing data processing in orbit [5]. Group 4: Future Applications - The "Three-Body Computing Constellation" is expected to significantly reduce data processing times in applications such as forest fire monitoring, from hours to minutes or even seconds [7]. - Future applications will include urban governance and emergency response, providing effective data support and intelligent services for smart city development [7]. - The laboratory plans to complete the deployment of over 50 computing satellites this year and aims to establish around 100 satellites by 2027 [7].

撰文丨王聪 编辑丨王多鱼 排版丨水成文 了解微生物在长期太空任务中的特性，对于保障宇航员健康以及维持航天器功能至关重要。 近日，中国科研团队在中国空间站 天宫空间站 首次发现并鉴定了一个微生物新物种，将其命名为—— " 天 宫尼尔菌 " （ Niallia tiangongensis ） ，这是首次在中国空间站发现新物种，拓展了我们对太空环境微生 物多样性的认知边界，该菌株 拥有适应极端太空环境的巧妙机制，这一发现可能具有许多实际意义。 这项研究以： Niallia tiangongensis sp. nov., isolated from the China Space Station 为题，发表在了 International Journal of Systematic and Evolutionary Microbiology 期刊上 【1】 。 研究团队表示， 天宫尼尔菌具有更强的抗氧化应激的能力，并且能够逆转辐射造成的损伤。破译其在太空 环境中的生存机制，有助于为微生物设计精准且有针对性的控制策略，有望在包括太空技术、农业和医学 在内的多个领域加以应用。 这项研究是中国空间站居留舱 微生物监测任务 ...

Core Insights - A new microbial species named "Tiangong Nier" has been discovered in China's space station, marking a significant achievement in space microbiology research [1][4] - The discovery was made during the Shenzhou 15 mission, where astronauts conducted experiments on microbial samples collected from the station [4][21] Discovery Process - The discovery of Tiangong Nier was supported by the space station engineering technology test project, focusing on the dynamic changes and safety control of environmental microorganisms during long-term operations [3] - Astronauts utilized sterile sampling wipes to collect microbial samples from the station's surfaces, which were then analyzed on the ground, leading to the identification of the new species [4] Characteristics of Tiangong Nier - Tiangong Nier is a Gram-positive, spore-forming bacterium belonging to the genus Nier, exhibiting exceptional adaptability to space environments [7] - It demonstrates remarkable pressure resistance and can regulate the biosynthesis of bacterial thiols to cope with oxidative stress in space [7] - The bacterium also shows unique features in biofilm formation and radiation damage repair, earning it the title of a "hexagonal warrior" in the microbial world [5][7] Microbial Sources in Space Station - Microorganisms in the space station primarily originate from four sources: astronauts, materials and equipment used in construction, ground assembly and testing phases, and visiting spacecraft [11][13][15][17] - The presence of microorganisms is crucial for maintaining a balanced ecosystem in space, which is essential for the long-term survival of humans [18] Importance of Microbial Research - Conducting microbial sampling in the space station is vital for ensuring astronaut health and the stability of onboard systems [20] - Research on microbial corrosion is ongoing, with experiments being conducted on the interaction between various materials and microorganisms [21]

5月14日，我国三体计算星座的首批12颗计算卫星成功发射。作为全球首个太空计算星座，三体计算星 座搭载了80亿参数的天基模型，能够实现整轨卫星互联，并计划建成千星规模的太空计算基础设施。这 是人类首次将大规模算力部署至太空，开启了人工智能从地面向宇宙拓展的新纪元。 根据功能的不同，现有卫星可分为通信、导航、遥感三大类，计算卫星是个新成员。我国算力资源位居 世界前列：截至2024年6月，我国在用算力中心机架总规模超过830万标准机架，算力总规模达 246EFLOPS（每秒百亿亿次浮点运算）。地面有那么多算力中心，为何还要在天上部署算力？ 从需求看，突破卫星数据处理瓶颈是太空经济发展的刚需。 传统模式中，卫星需将海量数据传回地面处理，即"天感地算"。这种模式受限于带宽和延迟，仅有不足 10%的数据能被有效利用，且数据处理的时效性差。太空计算星座致力于突破这一卡点，基于强大的天 基计算与互联互通，通过在轨实时处理数据实现"天感天算"。从卫星数据采集到提供信息服务，过去需 要天级、周级甚至月级的响应时间。"天感天算"可将之大幅缩短至秒级，能为深空探测、应急救灾、低 空经济等领域提供实时决策支持。 从成本看，太空计算具 ...

国星宇航在海口江东新区布局卫星业务 "海口号"随全球首个太空计算星座成功发射 海南日报海口5月16日讯(海南日报全媒体记者 党朝峰 刘冀冀)海南日报全媒体记者5月16日从海口 江东新区管理局获悉，5月14日12时12分，成都国星宇航科技股份有限公司(以下简称国星宇航)在酒泉 卫星发射中心使用长征二号丁运载火箭，成功将太空计算星座021任务12颗卫星发射升空，卫星顺利进 入预定轨道，标志着全球首个太空计算星座成功发射。本次发射的"主角"是由国星宇航研制的一轨12颗 计算卫星，其中就包括"海口号"(星时代-30)。 据了解，太空计算是指将数据中心和计算能力部署到太空轨道，通过卫星及其搭载的计算硬件进行 在轨数据处理。这种系统能够通过星间高速激光通信实现数据传输和实时处理，再将处理结果高效传回 地球。通过算力集中的形式部署算力星座，则可以解决单颗具备天算力的卫星处理能力有限、资源利用 效率低的问题，促进算力资源高效整合。太空计算星座021任务是国星宇航发起的"星算"计划首次发 射。 接下来，海口江东新区将立足商业航天配套产业，重点推进航天器研发、卫星数据服务、航天新材 料等细分领域，与文昌航天城形成"研发-制造-发 ...

浩瀚宇宙中蕴藏的丰富资源，一直吸引着科学家去探寻。前不久，中国矿业大学研制出我国首台太空采 矿机器人，这一科技突破，再次引起人们对太空资源的关注。为了追逐太空采矿梦想，科学家在太空资 源勘查、钻孔技术及原位利用等方面开展了一系列探索研究。"星际矿工"如何采矿？本期"瞰前沿"，我 们就来看看太空采矿离现实还有多远。 ——编者 为什么去？ 既能获取地外资源，也能牵引深空探测技术发展 人们向往太空采矿，最直接的需求是获取太空资源，以应对未来地球矿产资源可能枯竭的难题。 太空有哪些资源？远的不说，月球、太阳系中的小行星等就蕴藏着丰富的资源，其中一些还是地球缺乏 的。科学家发现，月壤含有丰富的太阳风气体，其中有可控核聚变的重要原料——氦—3；月球上广泛 分布的克里普岩，富含钍元素和稀土元素，且储量很可观。 在木星和火星轨道之间有一个小行星带，主要由岩石和金属构成的小天体组成。这些小天体富含铁、 镍、钴、铂族金属等，以及水冰和氢氧化物，可用于太空基建、能源供应和生命支持等。 太空采矿的意义不止于此。"太空采矿与空间技术、采矿学、空间信息科技以及天文学、行星科学等密 切相关，能够牵引科技与太空探索的发展。"中国矿业大学机电 ...

Core Insights - The China Pavilion at the Osaka Expo has received over 200,000 visitors in its first month, averaging about 7,000 visitors per day, making it one of the most popular pavilions at the expo [1][2] Group 1: Pavilion Highlights - The theme of the China Pavilion is "Building a Community of Life Between Man and Nature - The Future Society of Green Development," featuring multiple unique exhibition areas [1] - The pavilion's design resembles a scroll of Chinese literature, showcasing both ancient civilization and modern technology [1] - A significant exhibit is a large circular screen displaying multimedia images themed around the "Twenty-Four Solar Terms," illustrating the harmony between humans and nature [1][2] Group 2: Visitor Experience - The pavilion has implemented a humanized flow mechanism to prioritize the entry of special groups, including the elderly, children, and disabled individuals, supported by around 60 volunteers [2][3] - Visitors have expressed admiration for the cultural connections between China and Japan, noting similarities in seasonal changes and traditional aesthetics [2] - The pavilion features a replica of the 4-meter tall bronze tree from the Sanxingdui site, which has impressed many visitors and reshaped their understanding of Chinese bronze artifacts [2][3] Group 3: Cultural Significance - The pavilion aims to convey the warmth of Chinese culture and its respect for vulnerable groups, as highlighted by the experiences of international visitors [3] - The "Moon Soil" exhibit, showcasing samples from China's Chang'e missions, has drawn significant interest, with visitors expressing amazement at China's achievements in space exploration [3] - An AI-generated mural titled "Co-creating Peach Blossom Land" allows visitors to contribute to a collective artwork, emphasizing the theme of global cooperation [3][4]