格隆汇12月15日丨格灵深瞳(688207.SH)在投资者互动平台表示，公司的业务暂未直接涉及到商业航天 领域。 ...

（文章来源：第一财经） 中航光电在互动平台表示，目前公司产品已成功配套于主流火箭型号，并持续拓展与国内领先商业火箭 企业的合作，已为多家企业提供配套支持，产品覆盖连接器、箭载/箭地单机、电缆网等多类关键部 件，逐步构建起在商业航天供应链中的重要环节地位。 ...

Group 1: Market Overview - The three major indices collectively adjusted, with the Shanghai Composite Index down 0.55%, Shenzhen Component Index down 1.1%, and ChiNext Index down 1.77% [2] - The total market turnover was 1.79 trillion yuan, a decrease of 324.6 billion yuan from the previous day, with nearly 3,000 stocks in the red [2] Group 2: Liquor Industry - The liquor sector rebounded, with stocks like Huangtai Liquor and Jinzongzi Liquor hitting the daily limit, and Guizhou Moutai and Wuliangye rising by 0.38% and 0.76% respectively [4] - Moutai's provincial distributors held a meeting to discuss the 2026 distribution strategy, focusing on three core products with price anchors set at 600 yuan+, 1500 yuan+, and 2000 yuan+ [6] - Following this news, the price of Moutai has seen a significant increase, with the price of a single bottle reaching 1580 yuan and the original box surpassing 1600 yuan [7] - Guizhou Moutai emphasized a demand-driven approach and channel resilience, with future strategies expected to be announced around December 28 [8] Group 3: Retail Sector - The retail sector showed strength, with several stocks like Quanxinhao and Baida Group hitting the daily limit, and Baida Group achieving three consecutive daily limits [10] - From January to November, the total retail sales of consumer goods reached 4.56067 trillion yuan, a year-on-year increase of 4.0% [12] - The Ministry of Commerce plans to enhance collaboration with financial institutions to support consumption and retail sector transformation, aiming to create a robust domestic market [12] Group 4: Commercial Aerospace - The commercial aerospace sector remains hot, with stocks like Aerospace Mechatronics hitting the daily limit [14] - SpaceX is preparing for an IPO, with its valuation reportedly reaching 800 billion dollars, doubling from earlier this year [16] - China's new reusable rocket, Long March 12A, is set for its first launch in December 2025, aiming for successful recovery and orbit insertion [16] - The commercial aerospace market in China is projected to approach 10 trillion yuan by 2030, indicating significant growth potential [17]

Economic Overview - Domestic consumption remains weak, with overall commodity consumption showing poor performance and automotive sales cooling down[4] - Infrastructure investment continues to slow, with new housing transactions marginally declining[4] - M1 growth rate fell to 4.9% in November, down from 6.2% in the previous month, indicating a tightening liquidity environment[11] Market Trends - Global risk appetite is cooling, with precious metals outperforming other asset classes; gold prices increased by 2.2%[5] - Emerging market stocks rose by 1.0%, while developed market stocks saw a slight decline of 0.3%[5] - The Shanghai Composite Index rose by 0.3%, while the Hang Seng Index increased by 0.2%[5] Sector Insights - The automotive sector is expected to see heavy truck sales reach 720,000 units in 2026, with overall wholesale sales projected at 1.09 million units, a year-on-year decrease of 3%[39] - Steel production decreased to 8.06 million tons, down 2.83% week-on-week, while total inventory fell by 33.5% to 13.32 million tons[41] Policy and Strategy - The central government emphasizes the need for proactive fiscal policies to stabilize investment and consumption, with a focus on boosting domestic demand[30] - The upcoming economic policies are expected to support sectors like technology, energy, and consumption, with a particular focus on AI applications and green energy initiatives[19]

（原标题：行业迎催化，卫星ETF、航空航天ETF、卫星ETF易方达、卫星产业ETF涨超2%） A股三大指数今日集体走低，截至收盘，沪指跌0.55%报3867.92点，深证成指跌1.1%，创业板指跌 1.77%，科创50指数跌2.22%。全市场成交额1.79万亿元，较前一交易日缩量3246亿元，超2900股下跌。 盘面上，卫星ETF、航空航天ETF、卫星ETF易方达、卫星产业ETF涨超2%。 华福证券认为，可回收火箭的发射试验突破，给行业底层逻辑带来明确拐点，火箭可复用打通产业瓶 颈，制约行业爆发的底层运力问题如得到解决，则将显著提升卫星批量组网能力，产业链底层逻辑将 从"运力稀缺"转化为"规模应用"。 中银国际指出，商业航天主题突破"升温"期。商业航天领域近期迎来顶层设计完善以及新政策支持，为 产业发展明确了发展蓝图，增强了市场对商业航天长期发展的信心。近期我国卫星互联网低轨卫星组网 发射明显提速，产业进展上，12月3日朱雀三号遥一运载火箭在东风商业航天创新试验区发射升空，按 程序完成了飞行任务，未来国内商业航天进入常态化、高频次发射阶段后将对产业链上下游形成实质性 利好。 浙商证券认为，低轨星座加速建设，火 ...

Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [4] Core Insights - The commercial aerospace sector is accelerating, with significant developments in satellite terminal projects and successful satellite launches [2][10] - The synergy between satellite launches and ground terminal applications is expected to enhance the overall satellite internet industry [10][11] - The upcoming "14th Five-Year Plan" is anticipated to drive demand for unmanned and anti-unmanned equipment, deep-sea technology, and operational informatization, highlighting the sector's growth potential [15] Summary by Sections Investment Recommendations and Targets - The report suggests focusing on commercial aerospace companies such as Aerospace Electronics (600879, Buy), Haige Communication (002465, Buy), and others [7][15][16] - It also highlights opportunities in the aerospace propulsion and engine chain, new domains, military electronics, and military trade [15][16] Industry Performance - The defense and military industry index (Shenwan) rose by 2.80%, outperforming the CSI 300 index, which declined by 0.08% [18][21] - The report notes that the defense and military sector ranked 2nd out of 31 in terms of weekly performance [21] Key Developments - The successful launch of multiple low-orbit satellites within a week indicates a trend towards rapid network deployment becoming the norm [13][14] - The report emphasizes the importance of ground terminal projects as critical components in the satellite communication system, facilitating user access and service [10][11]

来源：北京科协 从万户飞天的古老传说到神舟揽月的辉煌现实，中国人对宇宙的向往从未停止。今天，仰望星空的不再 仅仅是国家力量，更多来自民间的"追星人"，他们正用智慧与勇气，叩响商业航天的大门。 当火箭从荒漠升空，当飞船在轨道遨游，你是否好奇： 民营运载火箭首次入轨背后，经历了怎样的至暗时刻与绝地反击？ 在远离地球的寂静深空，怎么实现对卫星的精细化管理？ 在内蒙古的辽阔草原上，卫星技术如何实现"云放牧"？ ①研发车间 | 年轻的工程师们如何攻克"火箭复用"这一世界级难题？ ②实验室 | 中国首家民营太空飞船公司，如何让太空实验从国家级任务走向更多元、更灵活的"商业定 制"？ ③指挥中心 | "星星护卫队"如何确保每一颗卫星在太空中安全运转？ ④应用现场 | 从青藏高原的生态守护，到内蒙古草原的智慧放牧，卫星遥感与AI如何让航天科技真 正"落地"？ 距离普通人进入太空的未来还有多远？ 我们将带你走进： 这不仅是钢铁苍穹的硬核科技，更关乎一群人的梦想和勇气。 敬请关注"科技创新调研行"——六集"人工智能+"主题纪录片《AI向新力》之《凌云：商业航天》，看 梦想如何点亮星河。 "科技创新调研行"——六集"人工智能+"主 ...

在国家"十四五"规划全面收官，航天强国战略全面落地的关键时期，我国商业航天正以前所未有的速度 迈向规模化、产业化的新阶段。近日，上海垣信卫星科技有限公司（简称"垣信卫星"）交通VDES试验 星于酒泉卫星发射中心发射成功并进入预定轨道，此次发射标志着我国向全球海洋的卫星通信星座建设 迈出了关键一步。 交通VDES星座系统是在交通运输部海事局的指导下，由中国交通通信信息中心与垣信卫星联合承建的 上海市重点科研攻坚项目，致力于深化海事监管与服务一体化、赋能交通强国建设。在这一重大进展的 背后，不仅是航天科技企业的艰苦攻坚，也离不开金融活水的精准灌溉与持续赋能。 早在垣信卫星组建千帆星座初期，上海农商银行基于技术价值和赛道潜力的评估与判断，提供30亿元授 信额度，重点支持其在技术研发、卫星发射等全生命周期的一揽子资金需求，包括此次垣信卫星交通 VDES试验星的研发资金，体现了该行服务实体经济、护航国家战略的前瞻性与主动性。 作为扎根上海、服务实体的金融机构，上海农商银行聚焦国之所需，将战略眼光投向"星空"、将商业航 天确立为重点服务领域，通过全链条、全周期的综合金融服务，助力中国企业勇闯星空，深度融入国家 航天发展战 ...

格隆汇12月15日丨新劲刚(300629.SZ)在投资者互动平台表示，1、关于业绩亏损及减值计提相关问题： 公司业绩表现受行业周期、市场环境、成本波动等多重因素综合影响，相关亏损情况已在定期报告中详 细披露原因；子公司减值计提严格按照《企业会计准则》及公司会计政策执行，基于资产实际运营状 况、市场公允价值等因素进行专业评估后作出，与股东减持行为无关联。2、关于军技民用战略推进情 况：公司2023-2024年年报中提及的军技民用发展方向未发生变更，目前各项业务均在稳步推进中：① 卫星通信领域：公司核心产品卫通收发前端系列模块（BUC、LNB等）持续为航空航天等领域提供配 套服务，同时正积极拓展商业航天相关应用场景；②低空经济领域：2024年7月成立的广东凯际智能， 聚焦射频微波技术向低空经济转化，已中标"深城交"低空探测设备项目，目前正处于调试安装阶段，后 续将持续对接更多应用场景；③民用其他领域：借助康泰威热障涂层技术优势，已为民用高端新能源车 辆电池板块提供热防护产品样品，正推进客户验证工作。3、关于公司主营业务：公司当前核心业务聚 焦于特殊应用领域电子业务（射频微波业务）及特殊应用领域材料业务（热喷涂材料 ...

格隆汇12月15日丨新劲刚(300629.SZ)在投资者互动平台表示，1、关于业绩亏损及减值计提相关问题： 公司业绩表现受行业周期、市场环境、成本波动等多重因素综合影响，相关亏损情况已在定期报告中详 细披露原因；子公司减值计提严格按照《企业会计准则》及公司会计政策执行，基于资产实际运营状 况、市场公允价值等因素进行专业评估后作出，与股东减持行为无关联。2、关于军技民用战略推进情 况：公司2023-2024年年报中提及的军技民用发展方向未发生变更，目前各项业务均在稳步推进中：① 卫星通信领域：公司核心产品卫通收发前端系列模块（BUC、LNB等）持续为航空航天等领域提供配 套服务，同时正积极拓展商业航天相关应用场景；②低空经济领域：2024年7月成立的广东凯际智能， 聚焦射频微波技术向低空经济转化，已中标"深城交"低空探测设备项目，目前正处于调试安装阶段，后 续将持续对接更多应用场景；③民用其他领域：借助康泰威热障涂层技术优势，已为民用高端新能源车 辆电池板块提供热防护产品样品，正推进客户验证工作。3、关于公司主营业务：公司当前核心业务聚 焦于特殊应用领域电子业务（射频微波业务）及特殊应用领域材料业务（热喷涂材料 ...