硕贝德（300322.SZ）8月15日在投资者互动平台表示，公司已完成卫通天线的研发，将积极推进相关技 术、产品迭代升级及市场化。 每经AI快讯，有投资者在投资者互动平台提问：近期商业航天，卫星互联网领域进入密集发射期和快 速组网期，行业得到快速发展，请问公司目前在这方面的布局和进展如何？ （文章来源：每日经济新闻） ...

（编辑 袁冠琳） 证券日报网讯 通宇通讯8月14日在互动平台回答投资者提问时表示，MacroWiFi是公司针对户外复杂场 景的网络通信痛点，特别研发的产品。该产品采用高增益双波束天线阵列技术，具备2公里超远传输距 离和200+用户并发接入能力。结合马斯克的SpaceX的接口，该产品目前在十几个国家进行认证，测试 卫星直接接入互联网的大范围覆盖，各项数值皆有不错测试结果。在阿联酋、印尼、缅甸、马来西亚、 尼日利亚、喀麦隆、俄罗斯都已有小批量订单。 ...

Core Viewpoint - The competition between China's satellite internet initiatives and SpaceX's Starlink is intensifying, with significant developments in satellite deployment and strategic partnerships in both countries [1][4][29]. Group 1: Industry Developments - SpaceX has launched over 7,000 Starlink satellites since its first deployment in 2019, with plans to eventually deploy 42,000 satellites [1][8]. - China has established the China Satellite Network Group in 2021, positioning it as a key player in satellite internet and communications, ranking after major telecom companies [1][4]. - China's satellite internet ecosystem, including the China Starlink system, is rapidly developing, with plans to launch over 27,000 satellites in the future [2][4][8]. Group 2: Satellite Deployment and Capabilities - China has successfully completed multiple satellite launches within a short timeframe, indicating a robust deployment strategy [4][9]. - The GW constellation, led by the China Satellite Network Group, aims to deploy 12,992 satellites, with a significant portion in low Earth orbit [5][9]. - The total number of China's operational communication satellites has surpassed 800, accounting for 24% of the global total [4][9]. Group 3: Market Opportunities - There is a pressing demand for satellite communications in various sectors, including mining, shipping, and military applications, driven by the need for reliable internet access in remote areas [10][11][14]. - The global satellite manufacturing market is projected to grow significantly, with estimates reaching $24.493 billion in 2024 and $38.969 billion by 2029, indicating a strong growth trajectory [20]. - China's satellite internet initiatives are closely linked to the globalization of Chinese enterprises, enhancing their operational capabilities in international markets [10][19]. Group 4: Competitive Landscape - SpaceX's Starlink currently has over 6 million users globally, with projected revenues of $8.2 billion in 2024, highlighting the commercial potential of satellite internet [11][29]. - Chinese companies are also making strides in the satellite communications sector, with various private and state-owned enterprises collaborating to enhance capabilities and market reach [5][24]. - The competition is not only about satellite deployment but also about securing frequency and orbital slots, marking the beginning of a "space race" [8][9].

Group 1 - The satellite industry ETF (159218) experienced a decline of 1.92% as of 10:49 AM on August 14, with trading volume exceeding 13 million, indicating a clear intention for capital to enter at lower prices, as evidenced by five consecutive days of net inflow [1] - According to CITIC Securities, China's satellite internet is entering a high-density launch period, with the launch frequency of GW constellations significantly increasing from one to two months for the first five groups of satellites to three to five days for groups five to seven, indicating a rapid network construction phase [1] - The company Yuanshin Satellite has initiated a tender for launch services for 2025, suggesting that construction will gradually accelerate, while Hainan Commercial Launch's first and second launch pads have begun regular launch operations, with plans to add third and fourth pads to meet the demand for "high frequency, large capacity, and low-cost" launches [1] Group 2 - By the second half of 2025, several large-capacity private liquid rockets, such as Zhuque-3 and Tianlong-3, are expected to make their maiden flights, with reusable experiments progressing steadily [1] - The private rocket company Blue Arrow Aerospace has initiated IPO counseling, indicating that China's commercial space industry is entering a rapid development phase, and the construction of satellite internet is expected to accelerate [1]

Market Performance - The A-share market experienced a significant rise on August 13, with the Shanghai Composite Index breaking the high point from October 8 of the previous year, reaching a nearly four-year high. The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index rose 1.76% to 11551.36, and the ChiNext Index increased by 3.62% to 2496.5 [2] - The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion yuan, an increase of 269.4 billion yuan compared to the previous trading day, marking a return to above 2 trillion yuan after 114 trading days [2] International Market Overview - The three major U.S. stock indices rose on August 13, with the Dow Jones Industrial Average increasing by 463.66 points to close at 44922.27, a gain of 1.04%. The S&P 500 rose by 20.82 points to 6466.58, up 0.32%, and the Nasdaq Composite increased by 31.24 points to 21713.14, up 0.14% [2][5] - European stock indices also saw gains on August 13, with the FTSE 100 rising by 17.42 points to 9165.23, up 0.19%, the CAC 40 increasing by 51.55 points to 7804.97, up 0.66%, and the DAX rising by 160.81 points to 24185.59, up 0.67% [3] Commodity Prices - International oil prices fell on August 13, with the price of light crude oil futures for September delivery dropping by $0.52 to $62.65 per barrel, a decrease of 0.82%. The price of Brent crude oil for October delivery fell by $0.49 to $65.63 per barrel, down 0.74% [3][4] Key Events and Policies - The World Humanoid Robot Games will be held from August 14 to 17 in Beijing, featuring 280 teams and over 500 humanoid robots competing in 26 events and 538 competition items, highlighting the integration of sports, art, and applications in robotics [6] - In Hubei Province, a local policy offers substantial financial incentives for families having more children, with rewards for second and third children reaching up to 287,188 yuan and 355,988 yuan respectively [6] - The successful launch of the Long March 5B rocket on August 13 marked a significant advancement in China's satellite internet capabilities, indicating a rapid increase in satellite deployment frequency [7] Financial Data - The People's Bank of China reported that from January to July, the total social financing increased by 23.99 trillion yuan, which is 5.12 trillion yuan more than the same period last year. The report also indicated a significant increase in government bond financing [11][12] - The broad money supply (M2) reached 329.94 trillion yuan at the end of July, growing by 8.8% year-on-year, while the narrow money supply (M1) was 111.06 trillion yuan, up 5.6% [12] Industry Insights - China Galaxy Securities noted a seasonal decline in cement demand due to weather conditions, with expectations for a gradual recovery in demand and potential price increases in mid to late August [13] - CITIC Securities highlighted that the upcoming half-year report period will be crucial for the Hong Kong stock market, with a shift from liquidity-driven to earnings-driven market dynamics expected [14]

Group 1 - The Ministry of Water Resources has initiated a Level IV emergency response for flood defense in Fujian and three other provinces [1] - The Ministry of Commerce announced countermeasures against two EU financial institutions starting from the 13th [1] - Two departments have urgently allocated 170 million yuan to support emergency rescue and disaster relief in seven provinces and cities [1] Group 2 - The State Administration for Market Regulation, the National Health Commission, and the National Administration of Traditional Chinese Medicine jointly released a guideline to strengthen the regulation of medical advertisements [1] - Two departments are soliciting opinions on the regulation that auxiliary driving cannot be considered as autonomous driving, and OTA upgrades without filing are prohibited [1] Group 3 - The 2025 World Humanoid Robot Games will open in Beijing on the 14th [1] - The total box office for the summer movie season in 2025 (including pre-sales) has surpassed 9 billion yuan [1] Group 4 - The U.S. federal government debt has exceeded 37 trillion dollars [3] - The U.S. government has declared a state of emergency in Washington D.C., with the National Guard deployed to the capital [3] - Former President Trump is considering legal action against Federal Reserve Chairman Jerome Powell [3]

每经记者｜杨建 每经编辑｜彭水萍 2、国际贵金属期货普遍收涨，COMEX黄金期货涨0.24%，报3407.00美元/盎司；COMEX白银期货涨 1.44%，报38.55美元/盎司。国际油价集体下挫，美油主力合约收跌0.68%，报62.74美元/桶；布伦特原 油主力合约跌0.54%，报65.76美元/桶。欧洲三大股指收盘全线上涨，德国DAX指数涨0.67%报24185.59 点，法国CAC40指数涨0.66%报7804.97点，英国富时100指数涨0.19%报9165.23点。 （一）重要市场新闻 （二）行业掘金 1、据央视新闻报道，北京时间2025年8月13日14时43分，我国在文昌航天发射场使用长征五号乙运载火 箭/远征二号上面级，成功将卫星互联网低轨8组卫星发射升空，卫星顺利进入预定轨道，发射任务获得 圆满成功。此次任务是长征系列运载火箭的第588次飞行。 近期我国卫星互联网和商业航天领域频繁传 来震撼消息。7月27日至8月4日，短短9天内，中国星网连续完成三次发射任务，将三组低轨卫星互联网 卫星送入太空。8月4日18时21分，海南商业航天发射场使用长征十二号运载火箭，成功将卫星互联网低 轨07组卫星发射 ...

Group 1 - As of the end of July, the broad money supply (M2) in China reached 329.94 trillion yuan, a year-on-year increase of 8.8% [1] - The narrow money supply (M1) was 111.06 trillion yuan, growing by 5.6% year-on-year [1] - The cash in circulation (M0) amounted to 13.28 trillion yuan, with a year-on-year growth of 11.8% [1] - In the first seven months, net cash injection was 465.1 billion yuan, and new RMB loans increased by 12.87 trillion yuan [1] - The social financing scale increased by 23.99 trillion yuan in the first seven months, exceeding the previous year's figure by 5.12 trillion yuan [1] Group 2 - The State Administration for Market Regulation and the Ministry of Industry and Information Technology have issued guidelines to prevent misleading marketing of advanced driver-assistance systems as autonomous driving systems [1] - Companies are required to avoid exaggerating vehicle performance in their advertisements to prevent consumer misuse [1] Group 3 - The National Development and Reform Commission has allocated 188 billion yuan in special long-term bonds to support equipment upgrades across various sectors, impacting approximately 8,400 projects and driving total investment over 1 trillion yuan [2] - Tencent Holdings reported second-quarter revenue of 184.5 billion yuan, a 15% year-on-year increase, with net profit rising 17% to 55.63 billion yuan [2] Group 4 - The International Energy Agency (IEA) forecasts a record oversupply in the global oil market next year, with OECD countries showing resilient oil demand due to lower prices [4] - Global crude processing is expected to reach an all-time high in August, with observable oil inventories hitting a 46-month peak in June [4] Group 5 - The U.S. stock market saw significant gains, with the Dow Jones and S&P 500 reaching new historical highs, driven by expectations of interest rate cuts by the Federal Reserve [5] - The Nasdaq China Golden Dragon Index rose by 2.08%, with notable increases in shares of companies like Niu Technologies and Pony.ai [5]

Core Viewpoint - Changjin Photonics, a hard-tech company emerging from Hubei, is redefining the boundaries of light with "special optical fibers" and is currently pursuing an IPO [1][2]. Company Overview - Established in 2012, Changjin Photonics' core technology originates from Huazhong University of Science and Technology, particularly from the optical fiber laser technology team led by Professor Li Jinyan, who is also the chairman of the company [5]. - The company's main products include special optical fibers, such as rare-earth-doped fibers, passive fibers for lasers, and special fibers for communication [6]. Product Features - Rare-earth-doped fibers enhance the optical performance of standard fibers by incorporating rare-earth elements, improving laser generation efficiency [6]. - Special optical fibers are designed for complex and specialized applications, such as precision laser surgery and high-power laser applications in automotive welding and chip cutting [6]. Market Dynamics - The industry has historically relied heavily on imported products, with 30% of high-end special optical fibers in China being imported, often at 2-5 times the price of domestic alternatives [7][8]. - Changjin Photonics offers competitive pricing, with its products costing about half of imported counterparts, significantly reducing costs for manufacturers [9]. Financial Performance - In 2024, the company is projected to achieve a revenue of 445 million yuan, representing a year-on-year growth of 30.96%, and a net profit of 69 million yuan, with a growth of 66.53% [10]. Emerging Opportunities - The new opportunities in the special optical fiber market are primarily driven by AI computing power connections and satellite internet [11]. - The demand for AI data centers is expected to surge, with major cloud providers planning significant capital expenditures, such as Amazon's over $100 billion and Microsoft's $80 billion for data center construction [11]. - The global market for special optical fibers is anticipated to exceed $15 billion by 2025, with China accounting for nearly 40% of this market [12].

Industry News - The State Administration for Market Regulation and the Ministry of Industry and Information Technology have jointly drafted a notice to strengthen the recall and supervision of intelligent connected vehicles, emphasizing that auxiliary driving cannot be marketed as autonomous driving and that OTA upgrades must be verified [5] - The 188 billion yuan special government bonds for long-term support of equipment updates have been fully allocated, benefiting approximately 8,400 projects across various sectors, driving total investment exceeding 1 trillion yuan [5] - The International Energy Agency (IEA) predicts a record oversupply in the global oil market next year, with OECD countries showing resilient oil demand due to lower prices [5] Company News - Great Wall Military Industry announced that it may apply for a trading suspension if its stock price continues to rise [8] - CATL announced a dividend of 10.07 yuan per 10 shares for the mid-2025 period, with the record date set for August 19 [8] - Huakang Clean announced that its chairman has been placed under detention [8] - Zhenray Technology announced that a shareholder intends to transfer 3.88% of its shares through inquiry [8] - Yandong Micro announced that the National Integrated Circuit Fund's shareholding has decreased to 6.99% [8] - Anlu Technology announced that the National Integrated Circuit Industry Investment Fund plans to reduce its holdings by no more than 3.25% [8] - Baiwei Storage announced that the National Integrated Circuit Fund Phase II plans to reduce its holdings by no more than 2% [8] - Chuangjiang New Materials announced that its subsidiary plans to invest 300 million yuan in a high-performance fiber prefabricated project [8] - ST Jinggu announced that one of its former actual controllers is suspected of selling part of the inventory, leading to a police report [8] - Tencent Holdings reported a revenue of 184.5 billion yuan for the second quarter, a year-on-year increase of 15% [8]