近期市场热点多聚焦于"反内卷"与基建板块，但科技主线作为长期政策支持的核心方向，其产业叙 事仍在持续强化。AI、机器人等前沿科技领域进展不断，技术突破与产业落地预期支撑下，科技板块 的配置价值依然坚实。 长城科技投资领域的基金经理们将努力挖掘科技创新浪潮下的投资机遇，力争做好"有时代感的投 资"，陪伴投资者向"新"而行。 廖瀚博：关注高低切机会 展望后市，我们认为短期内市场或由上行转向震荡行情，将关注高低切换的机会，需要重视低位板 块/个股的基本面变化或者预期变化。 陈良栋：挖掘AI细分支线机会 储雯玉：关注计算机、传媒、半导体等 我们认为在9月份之前市场不太会存在大的系统性风险，但如果市场过热，上行力量也会受到限 制，所以当前比较适合寻找结构性机会，比如进行板块间的高低切换，或等待高位板块的回调布局机 会。 具体到科技创新方向，由于部分科技热点板块已经接近或超过前期高点，市场也在酝酿高低切换， 比如近几个交易日PCB、光模块、稳定币、半导体制造等方向都有退潮迹象，而相对低位的AI应用、半 导体设计板块逐渐活跃。因此近期可重点关注计算机、传媒、半导体等板块。另外，三季度是传统消费 电子旺季，还可密切关注新产品 ...

Market Overview - The market experienced a day of fluctuations with all three major indices closing higher: Shanghai Composite Index up 0.45%, Shenzhen Component Index up 0.64%, and ChiNext Index up 0.66% [1] Sector Performance - Shipbuilding, electric machinery, and gaming sectors showed the highest gains, while traditional Chinese medicine, pharmaceutical commerce, and chemical pharmaceuticals faced declines [1] Investment Opportunities - The Shanghai Municipal Government released a plan to develop the embodied intelligent industry, offering incentives for companies involved in the sales or leasing of embodied intelligent robots, with rewards up to 5% and a maximum of 5 million yuan [2] - CITIC Securities forecasts 2025 as the year of mass production for embodied intelligent robots, highlighting the integration of AI and physical applications as a significant opportunity for the industry over the next decade [2] - The defense and military sector is expected to see a recovery in performance, with increased demand driven by the implementation of the "14th Five-Year Plan" and rising global military expenditures due to geopolitical tensions [2][3] Industry Trends - The satellite internet industry is gaining momentum, with significant advancements in satellite deployment and technology, paving the way for commercial space ventures [3] - The development of satellite internet is supported by innovations in manufacturing and the use of reusable rocket technology, which will lower launch costs and enhance capacity [3] Related ETFs - ETFs related to robotics include: Robot 50 ETF (159559), E Fund Robot ETF (159530), Robot Industry ETF (159551), and Southern Robot ETF (159258) [2] - ETFs related to military and defense include: Military ETF Leader (512680), Military ETF (512660), and National Defense Military ETF (512810) [3] - ETFs related to aerospace include: Aerospace ETF (159267), Tianhong Aerospace ETF (159241), and General Aviation ETF (159255) [4]

Wind金融终端数据显示，截至8月5日，航空航天ETF天弘（159241）年初至今份额增长达101.96%。 中心建投表示，2025年7月底以来，我国GW星座发射频率显著提升，从01-05组星的一到两个月发射间 隔缩短到05-07组星的3-5天发射间隔，组网速度明显加快，或表明我国卫星互联网开始进入高密度组网 期。此外，千帆星座的发射招标也已经启动，海南商发的1号和2号发射工位开启常态化发射工作，大型 民营液体火箭也将陆续首飞，可重复使用实验稳步开展，以蓝箭航天为代表的民营火箭企业开始IPO辅 导，我国商业航天产业进入快速发展期。 8月6日，市场全天震荡走高，三大指数小幅上涨，军工板块走强。 航空航天ETF天弘（159241）紧密跟踪国证航天指数，按申万一级行业分类，该指数以近98%的国防军 工行业权重形成显著特征，是全市场军工含量最高的指数。按申万二级行业分类，国证航天指数"含航 量"较高，航空装备与航天装备两大核心板块则占据近67%权重，深度聚焦大飞机研制、低空经济、商 业航天等新兴领域航空航天装备产业链关键领域。 热门ETF中，航空航天ETF天弘（159241）收盘涨2.75%，成交额超8800万元，换 ...

Core Insights - The Central State-Owned Enterprises Innovation-Driven Index (000861) has seen a rise of 0.76% as of August 6, 2025, with notable increases in constituent stocks such as China Shipbuilding (10.00%) and China Heavy Industry (10.04%) [3] - The Central State-Owned Enterprises Innovation-Driven ETF (515900) has experienced a 4.45% increase over the past month, with a current price of 1.54 yuan [3] - The State-owned Assets Supervision and Administration Commission emphasizes the importance of integrating artificial intelligence with the real economy, highlighting the need for strategic applications and collaboration [4] - The frequency of satellite launches in China has significantly increased, indicating a rapid development phase in the commercial space industry [4] - The Central State-Owned Enterprises Innovation-Driven ETF has shown a net value increase of 12.94% over the past year, with a notable monthly return of 15.05% since inception [5] - The ETF has the lowest management and custody fees among comparable funds, at 0.15% and 0.05% respectively [5] - The tracking error of the ETF over the past five years is 0.037%, the best among comparable funds, indicating high tracking precision [6] - The top ten weighted stocks in the index account for 34.11% of the total, with companies like Hikvision and China Southern Power Grid leading the list [6]

Group 1 - The A-share market showed mixed performance on August 6, 2025, with the military industry sector leading gains and commercial aerospace concepts becoming active, highlighted by stocks like Great Wall Aerospace hitting the daily limit [1] - The Aerospace ETF (159267) opened high and surged, with a 2.47% increase, leading similar products, and a turnover rate of 19.17%, indicating strong market activity [1] - On August 4, 2025, China successfully launched the Long March 12 rocket from Hainan, placing the satellite internet low-orbit 07 group satellites into their designated orbits, marking a new phase of high-density launches for satellite internet [1] Group 2 - Minsheng Securities reported that the GW constellation has completed seven groups of satellites in orbit, while the Qianfan constellation has conducted five launches, totaling 90 satellites in orbit, indicating a growing satellite internet industry ecosystem [2] - The development of the aerospace industry is seen as a strategic foundation for national security amid rising global military expenditures, with China's defense budget reaching 1.81 trillion yuan in 2025, maintaining a 7.2% growth rate for three consecutive years [2] - The Aerospace ETF closely tracks the National Aerospace and Aviation Industry Index, which consists of securities from the aerospace sector, reflecting the overall performance of the industry, with a high concentration of 98.2% in the defense and military industry [2]

Company Overview - Shanghai Hanxun's stock price closed at 25.03 yuan on August 5, 2025, with an increase of 0.14 yuan, representing a rise of 0.56% from the previous trading day [1] - The trading volume for the day was 553,291 hands, with a total transaction amount of 1.385 billion yuan [1] Business Focus - The company specializes in the research, development, manufacturing, sales, and technical services of military broadband mobile communication systems and military tactical communication equipment [1] - Its products are primarily used in the field of national defense informationization [1] Recent Developments - In June 2025, the company disclosed its role as a supplier for the Qianfan Constellation communication subsystem and as a core research unit for the G60 constellation payload, responsible for the development and supply of related satellite communication equipment [1]

Core Viewpoint - The successful launch of the low Earth orbit satellite internet group 07 by the Long March 12 rocket marks a significant acceleration in China's satellite internet deployment, with multiple launches occurring within a short timeframe [1][4]. Group 1: Satellite Launches and Developments - The satellite internet low Earth orbit groups 01 to 07 are part of China's "National Network Constellation," which aims to deploy approximately 1,300 satellites by 2029 and around 13,000 by 2035 [4]. - The recent launches demonstrate the capabilities of the Hainan commercial space launch site, achieving high-density launches successfully for the first time [4]. - The 07 group satellites were developed by the private company Galaxy Space, marking the first batch production of such satellites by a private firm in China [4][6]. Group 2: Stock Market Response - Following the successful launch, over thirty companies in the A-share satellite internet sector saw stock price increases, with notable gains from companies like Aerospace Zhizhuang and Xingwang Yuda [1][2]. - Specific stock performance included Aerospace Zhizhuang rising by 17.03% and Xingwang Yuda by 4.93% [2]. Group 3: Investment and Business Expansion - Several listed companies are increasing their investments in the satellite internet sector, with significant projects announced, such as a 344 million yuan investment by Guangdian Measurement for a satellite internet quality assurance platform [8]. - Zhenyou Technology plans to invest 709 million yuan in satellite internet communication product development, focusing on core network systems and satellite terminal devices [8]. - Tongyu Communication has positioned itself advantageously in the national satellite constellation launch plans, indicating a strong future in the satellite internet market [9].

明日主题前瞻 1、商业航天 | 据智通财经，8月4日，我国在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组卫星发射升空。而在7月30日，海南 商业航天发射场一号工位刚刚完成了长征八号甲运载火箭的发射任务。短期内实现双工位连续发射，这也进一步验证了海南商业航天发射场的高密度发射能 力。 点评：民生证券表示，8月4日，我国在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组卫星发射升空。海南商业航天发射场双工 位的"接力"火箭发射，意味着我国首个商业航天发射场的高频次发射能力得到验证。目前，GW星座已完成七组卫星在轨部署;千帆星座已完成五次发射，在 轨卫星数量达到90颗。卫星互联网产业生态逐步成型，商业航天产业版图徐徐绘就。卫星互联网产业的发展路径正持续清晰。 2、液冷 | 根据IDC(国际数据公司)发布的数据，预计2025年至2029年，中国液冷服务器市场年复合增长率将达到约48%，2028年市场规模将达到约162亿美 元。 点评：浙商证券表示，随着AI应用拉高算力需求，液冷技术正迎来爆发式增长。预计2025至2027年中国液冷市场规模将从149.8亿元增长至347.4亿 ...

（文章来源：证券日报） 证券日报网讯亚光科技8月5日在互动平台回答投资者提问时表示，卫星互联网领域和通讯领域，公司微 波信道类产品可实现配套，例如射频前端的低噪放、混频器、功分器、滤波器、信号检测电路等，此 外，复合功能微波模块组件也可实现配套，比如TR组件等。 ...

| 序号 | 募投项目名称 | 投资总额 | 募集资金拟投会 | | --- | --- | --- | --- | | | | (万元) | (万元) | | 1 | 航空装备(含低空)测试平台项目 | 34.000.00 | 30,000 | | 2 | 新一代人工智能芯片测试平台项目 | 29,200.00 | 25,000 | | 3 | 卫星互联网质量保障平台项目 | 34,400.00 | 30,000 | | 3-1 | 卫星互联网质量保障平台项目(成都) | 22.900.00 | 20,000 | | 3-2 | 卫星互联网质量保障平台项目(广州) | 11.500.00 | 10.000 | | ব | 数据智能质量安全检验检测平台项目 | 7.500.00 | 5.00( | | ર્ | 西安计量检测实验室升级建设项目 | 18,000.00 | 15,000 | | 6 | 补充流动资金 | 25.000.00 | 25,000 | | | 合计 | 148,100.00 | 130,000 | 中证智能财讯 广电计量（002967）8月5日晚间公告，公司近日收到控股股东广州数字科技 ...