【CNMO科技消息】据韩国媒体ETNews报道，12月4日起，SpaceX旗下低轨卫星互联网服务Starlink在 韩国正式启动商用服务。此次落地由两家韩国公司担任官方授权经销商，同步推出面向个人用户和企业 客户的完整产品线。 企业服务（B2B）方面，官方授权经销商将重点面向海事、航空及公共机构等领域推出定制化解决方 案。目前，远洋船舶普遍依赖仅相当于3G水平的通信网络，难以支持视频会议、流媒体或远程作业。 Starlink的引入将显著改善船员通信体验，助力年轻人才吸引与船上福利提升，并优化港口申报、远程 运维等业务流程效率。 官方还计划陆续推出海事/航空专用套餐、固定与移动终端组合方案及政府机构专属计划；目前已发布 融合其自有静止轨道"无穷花卫星"与Starlink低轨星座的下一代海洋通信平台"X-Wave One"，旨在构建 更稳定、高可用的混合卫星网络。 根据官方公布信息，Starlink家庭版（B2C）服务月费为8.7万韩元（约合417元人民币），提供不限量数 据流量，实测平均下载速度达135Mbps，上传速度约40Mbps。尽管略低于韩国三大移动运营商的LTE平 均速率（约178Mbps），但其优势 ...

歌链，看好国产通信接口 IP 赛道-周跟踪 （20251110-20251116） 2025.11.19 张天 执业登记编码：S0760523120001 邮箱：zhangtian@sxzq.com 赵天宇 执业登记编码：S0760524060001 邮箱：zhaotianyu@sxzq.com 通信 周跟踪（20251124-20251130） 领先大市-A(维持) ——商业航天有望迎来规模化发展的关键拐点 2025 年 12 月 4 日 行业研究/行业周报 相关报告： 现象级热潮，看好国内算力 2026 市场- 周跟踪（20251117-20251123）2025.11.27 通信行业近一年市场表现 投资要点 行业动向： 1）我国首款可回收复用火箭有望迎来首发，星图测控发布太空感知星座计 划 资料来源：最闻 【山证通信】谷歌 nano banana 再掀 朱雀三号有望于 12 月初迎来首发。蓝箭航天研制的朱雀三号运载火箭是我 国首型采用不锈钢箭体结构、具备一级重复使用能力的大型液氧甲烷火箭，可实 现 20 次以上复用，旨在支撑未来大型星、座高组频网次低成本发射等多样化商 业场景。ZQ-3 可回收火箭着陆区 ...

Q&A 朱雀 3 的发射结果如何评价？ 朱雀 3 遥一火箭在酒泉东风商业航天创新试验区成功发射，二级火箭进入预定 轨道，实现了首飞的预轨成功。然而，一子级回收未能实现软着陆，着陆于回 收场坪边缘，距离目标落点仅几十米。尽管如此，从任务定义来看，只要实现 入轨即为首飞成功。因此，朱雀 3 的发射任务整体上是成功的，并且证明了其 技术路线和全过程方案的有效性。 如何看待国内商业航天与国际公司的对比？ 国内商业航天领域一直被视为追赶者，但可以参考 SpaceX 的发展历程。 SpaceX 成立于 2002 年，其第一款火箭猎鹰一号在经历三次失败后，于 2008 年第四次发射才成功。猎鹰 9 号火箭在 2010 年首飞后，也经历了多次 回收失败，直到 2015 年才首次实现回收成功。这表明可回收火箭技术需要多 朱雀三首飞入轨成功，看好商业航天新起点 20251203 摘要 朱雀三号首飞成功验证了其技术路线和全过程方案的有效性，标志着国 内商业航天在可回收火箭技术上取得重要进展，尽管与 SpaceX 等国际 公司相比仍有差距，但国内头部公司的技术方案已得到有效验证。 可回收火箭技术是未来降低发射成本的关键。SpaceX ...

Group 1 - The commercial aerospace sector has shown significant activity recently, with several companies experiencing stock price surges, indicating heightened investor interest [1] - Companies like Huawu Co., Ltd. have identified commercial aerospace as a key development direction, with its subsidiary, Ande Technology, focusing on aerospace technology equipment and components [1] - Ande Technology has established long-term partnerships with major domestic aerospace manufacturers and is actively pursuing opportunities in commercial aerospace, although its current impact on overall performance is minimal [1] Group 2 - Jinlu Electronics has confirmed collaborations with leading domestic commercial aerospace companies, although this segment currently has a low impact on its overall performance [2] - The commercial aerospace sector is experiencing an upward trend, with significant attention on the upcoming maiden flight of the Zhuque-3 rocket, which could position China as the second country to master reusable rocket technology [2] - The establishment of a dedicated Commercial Aerospace Department by the National Space Administration signifies a move towards specialized regulation and support for the high-quality development of China's commercial aerospace industry [2] Group 3 - CITIC Securities forecasts that the commercial aerospace industry will accelerate by 2025, with over a hundred satellites in orbit and private rocket companies entering the national satellite launch market [3] - The report anticipates that from 2026 onwards, commercial aerospace will enter a phase of frequent launches, with low Earth orbit satellite internet and rocket launch industries becoming core beneficiaries [3] - Despite the positive outlook, companies have indicated potential business risks, as the industry is still in its early stages with rapid technological changes and long investment cycles [3]

Group 1 - The commercial aerospace sector is experiencing significant activity, with companies like Zhaobiao Co., Tongyu Communication, and Aerospace Development seeing stock price increases [1] - The establishment of the Commercial Aerospace Office by the National Space Administration marks the beginning of dedicated regulatory oversight for China's commercial aerospace industry, which is expected to drive high-quality development [1] - The National Space Administration has released the "Action Plan for Promoting High-Quality and Safe Development of Commercial Aerospace (2025-2027)," outlining four core objectives for the industry [1] Group 2 - By 2025, the commercial aerospace industry is expected to accelerate, with over 100 satellites in orbit for the GW and Qianfan constellations, and private rocket companies entering the national satellite launch market [1] - The Ministry of Industry and Information Technology will open satellite communication services to operators, promoting consumer-level applications of direct connection technology [1] - From 2026 onwards, commercial aerospace is anticipated to enter a phase of frequent launches, with low Earth orbit satellite internet and the rocket launch industry becoming key beneficiaries [1][2]

Market Overview - A-shares experienced a decline with major indices falling, as the Shanghai Composite Index dropped by 0.55% to fall below 3900 points, and the ChiNext Index fell by 0.88% [1] - Nearly 4000 stocks were in the red, with sectors such as non-ferrous metals, pharmaceuticals, brokerages, and semiconductors declining, while insurance and coal sectors saw gains [1] Retail Pharmacy Sector - Retail pharmacy stocks surged, with notable gains including People's Tongtai and Haiwang Biological reaching their daily limit, and Hezhi China rising over 8% [3][4] - The increase in flu-like cases is expected to benefit the retail pharmacy sector, driving demand for antiviral medications and symptomatic treatments [3][4] Fujian Local Stocks - Fujian local stocks saw significant increases, with companies like Jiarong Technology and Pingtan Development hitting their daily limit [6][7] - The rise is attributed to the issuance of measures to promote the development of computing power infrastructure in Fujian, which includes plans for enhancing network transmission efficiency [6][7] Strong Performing Stocks - Jinfu Technology achieved a 7-day consecutive limit up, with its stock price reaching a historical high [9] - The company is in the process of planning an acquisition of at least 51% of Guangdong Lanyuan Technology, which is still in the due diligence phase [9] - Tongyu Communication has seen a 4-day consecutive limit up, focusing on expanding its satellite communication business and holding over 700 patents in the RF communication field [10]

机构表示，近期流感样病例占比快速爬坡，零售药店板块有望受益。流感病毒的高传染性催生用药刚 需，抗病毒药物(如奥司他韦等)需求提升；退烧药、止咳化痰药等对症品类则随轻症患者自我药疗需求 激增。同时，公众对防护的重视推高口罩、消毒液、免洗凝胶等消杀产品的复购率。 福建板块爆发 2日早盘，A股主要股指回落走低，市场整体疲弱；港股早盘一度冲高，随后震荡下探，恒生科技指数 翻绿。 具体来看，三大股指盘中震荡下探，截至午间收盘，沪指跌0.55%再度失守3900点，创业板指跌 0.88%，科创50指数跌超1%。 场内近4000股飘绿，有色、医药、券商、半导体等板块均走低。保险、煤炭板块逆市拉升；药店零售概 念逆市活跃，人民同泰（600829）、海王生物（000078）等涨停。福建本地股爆发，嘉戎技术 （301148）、海欣食品（002702）、平潭发展（000592）等涨停；消费电子概念延续强势，通宇通讯 （002792）、道明光学（002632）斩获4连板，瑞玛精密（002976）连续3日涨停。值得注意的是，多只 强势股受到资金追捧，连续封板，如金富科技（003018）已斩获7连板，海王生物、海欣食品双双收获5 连板。 ...

Core Viewpoint - The establishment of the Commercial Space Administration by the National Space Administration aims to enhance the efficiency of launch approvals and licensing, promoting the standardized and large-scale development of the commercial space industry [1] Group 1: Regulatory Developments - The Commercial Space Administration will serve as a dedicated regulatory body to improve the efficiency of launch approvals and licensing [1] - The release of the "Action Plan for Promoting High-Quality and Safe Development of Commercial Space (2025-2027)" outlines four core objectives [1] Group 2: Strategic Goals - The action plan includes support for low-cost technologies such as reusable rockets and smart satellites through open research projects [1] - It aims to promote the integration of civil and commercial standards by sharing national resources like measurement and control stations and testing grounds [1] - Establishment of a national fund to optimize the industrial ecosystem is also a key goal [1] - A comprehensive safety regulatory system covering the entire lifecycle of the industry will be constructed [1] Group 3: Industry Outlook - By 2025, the industry is expected to accelerate with over 100 in-orbit satellites from GW and Qianfan Constellation, and private rocket companies entering the national satellite launch market [1] - The Ministry of Industry and Information Technology will open satellite communication services to operators, promoting consumer-level applications of direct connection technology [1] - Following the clarification of the policy framework, commercial space is projected to enter a phase of high-frequency launches starting in 2026, with low Earth orbit satellite internet and the rocket launch supply chain becoming core beneficiary areas [1]

Core Viewpoint - The establishment of a dedicated Commercial Space Administration by the National Space Administration aims to enhance the efficiency of launch approvals and licensing, promoting the standardized and large-scale development of the commercial space industry [1] Group 1: Regulatory Developments - The newly formed Commercial Space Administration will serve as a specialized regulatory body to improve the efficiency of launch approvals and licensing [1] - The release of the "Action Plan for Promoting High-Quality and Safe Development of Commercial Space (2025-2027)" outlines four core objectives to support the industry [1] Group 2: Industry Goals and Initiatives - The action plan includes initiatives to support low-cost technologies such as reusable rockets and smart satellites through open research projects [1] - It emphasizes the integration of civil and commercial standards to share national resources like measurement and control stations and testing grounds [1] - The establishment of a national fund aims to optimize the industrial ecosystem and create a comprehensive safety regulation system throughout the lifecycle of space projects [1] Group 3: Market Outlook - By 2025, the industry is expected to accelerate, with over 100 in-orbit satellites from GW and Qianfan Constellation, and private rocket companies entering the national satellite launch market [1] - The Ministry of Industry and Information Technology will open satellite communication services to operators, promoting consumer-level applications of direct connection technology [1] - Following the clarification of the policy framework, commercial space is projected to enter a phase of high-frequency launches starting in 2026, with low Earth orbit satellite internet and the rocket launch supply chain becoming key beneficiary sectors [1]

Suspension and Resumption - Tailong Pharmaceutical's controlling shareholder is planning to transfer company shares, resulting in a stock suspension [1] Mergers and Acquisitions - Tanshan intends to acquire 51% equity of Shanghai Tongtu Semiconductor for 357 million yuan, with the target company engaged in IP technology licensing and chip design [2] Share Buybacks - Hengyi Petrochemical's controlling shareholder and its concerted parties plan to increase their holdings in the company by 1.5 billion to 2.5 billion yuan, with loans not exceeding 2 billion yuan [3] - Yongtai Energy plans to use 300 million to 500 million yuan for share buybacks aimed at cancellation [3] Investment Cooperation and Operational Status - Wolong New Energy is investing 804 million yuan to construct a 200,000 kW/1.2 million kWh independent energy storage demonstration project in Baotou [4] - Zhongchao Holdings' subsidiary won projects totaling 1.318 billion yuan, accounting for 23.97% of the company's audited revenue for 2024 [4] - Lizhong Group signed a technical agreement for commissioned processing of humanoid robot components with Weijing Intelligent [4] - Kaiwang Technology plans to establish a liquid cooling subsidiary with Wenjian Technology [4] - Ruishun Technology received a notice for a 331 million yuan cotton picker spindle production equipment construction project [4] - Tongyu Communication is accelerating its 6G research and low-orbit satellite internet layout [4] - Samsung Medical's subsidiary signed a contract for an annual bidding project for electric meters in Indonesia, with a contract value of approximately 160 million yuan [4] - Top Group is planning to issue H-shares and list on the Hong Kong Stock Exchange [4]