中邮证券表示，展望2025年，军工行业订单有望迎来拐点，在服务于提升装备性能或降低装备成本的新 技术、以新域新质作战力量为代表的新产品、军贸和军用技术转化带来的新市场方向或蕴含更大弹性。 建议关注航空航天主线。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 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，该指数以超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66%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。 消息面上，据央视新闻，7月30日15时49分，我国在海南商业航天发射场使用长征八号甲运载火箭，成 功将卫星互联网低轨06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。此次发射， 长征八号甲火箭实现了全流程自动化、起飞主动漂移控制、过冷液氧加注等多项技术创新。这次发射是 长征系列运载火箭的第586次飞行。 东吴证券指出，随着多重因素推动我国低轨卫星发射进程加速，预计 ...

Economic Policy - The July 30 meeting emphasized the need for continuous macroeconomic policy support and timely enhancements, focusing on more proactive fiscal policies and moderately loose monetary policies to fully unleash policy effects [1][8] - The meeting highlighted the importance of cultivating new growth points in service consumption and expanding consumer demand while ensuring the improvement of people's livelihoods [1][9] Market Dynamics - On July 30, the Hang Seng Index fell by 1.36%, while the Hang Seng Tech Index dropped by 2.72%. Southbound funds recorded a net purchase exceeding 10 billion HKD [4] - China Chang'an Automobile Group reported a total revenue of 146.9 billion CNY for the first half of the year, with a target of 300,000 vehicles for the year, including 1 million in new energy vehicle sales [4] Industry Developments - The National AI Open Source Platform "Huanxin Community" was officially launched, with ZTE contributing 11 core technology achievements, including six self-developed large models [5] - The China Coking Industry Association called for a price increase in the coking market, with specific price adjustments for various types of coke effective from July 31 [5] Stock Market Movements - On July 30, polysilicon futures reached a limit-up price of 54,770 CNY/ton, marking a 9% increase [7] - The stock of Upwind New Materials experienced significant volatility, with a closing price of 92.07 CNY/share, up 9.37%, and a total market value of 37.1 billion CNY [7] Corporate Announcements - Nanjing Hongtai Sun Co., Ltd. announced a price increase for its 42% paraquat mother liquor to 15,000 CNY/ton due to fluctuating raw material prices and high demand [6] - Li Auto's stock saw a decrease in shareholding by BlackRock from 5.01% to 4.61% as of July 24 [4]

大家早上壕！ 先看海外要闻： 美股涨跌不一，道指收跌0.38%、纳指收涨0.15%、标普500收跌0.12%；英伟达收涨2.14%、谷歌A涨0.4%、微软涨0.13%、亚马逊则收跌0.35%、 特斯拉跌0.67%、Meta跌0.68%、苹果跌1.05%。 美联储连续五次会议按兵不动，但两票委支持降息，指出经济增长放缓；鲍威尔未就9月降息给指引，强调关税和通胀的不确定性，称就业市场 未走弱。 特朗普称美国将对印度施加25%关税及"惩罚"，指印方是俄罗斯能源大买家。特朗普宣布与韩国达成全面贸易协议，征收15%关税，韩国将向美 国提供3500亿美元投资，由美国拥有和控制。特朗普签署行政命令，将对巴西征收50%关税。 特朗普对进口半成品铜等征50%关税，但不含阴极铜和精炼铜，纽铜暴跌20%。 Meta业绩超预期、指引强劲，上调全年资本支出下限，盘后大涨12%。云力挺微软上季营收加速增长18%，Azure全财年收入增34%，AI支出新 高，盘后一度涨近8%。 微软全财年Azure营收超过750亿美元，增长34%。 Scale AI竞争对手Surge AI洽谈按250亿美元估值融资10亿美元。 德国政府通过2026财年预 ...

Core Viewpoint - The successful launch of the low Earth orbit satellite internet group 06 by the Long March 8A rocket marks a significant achievement in China's commercial space industry, showcasing multiple technological innovations [1] Group 1: Launch Details - The launch took place on July 30 at 15:49 from the Hainan commercial space launch site [1] - The Long March 8A rocket successfully placed the satellite into its designated orbit, indicating a successful mission [1] Group 2: Technological Innovations - The Long March 8A rocket demonstrated full-process automation during the launch [1] - Innovations included active drift control during takeoff and supercooled liquid oxygen refueling [1]

Core Viewpoint - The successful launch of the low Earth orbit satellite internet group 06 by the Long March 8A rocket marks a significant achievement in China's commercial space industry, showcasing advancements in technology and automation [1] Group 1 - The launch took place on July 30 at 15:49 from the Hainan commercial space launch site [1] - The Long March 8A rocket successfully placed the satellite into its designated orbit, completing the mission successfully [1] - This launch represents the 586th flight of the Long March series of launch vehicles [1] Group 2 - The Long March 8A rocket demonstrated several technological innovations, including full-process automation, active drift control during takeoff, and supercooled liquid oxygen refueling [1]

Core Points - The successful launch of the low Earth orbit satellite internet group 06 was conducted using the Long March 8A rocket at the Hainan commercial space launch site [1] - This launch marks the 586th flight of the Long March series of launch vehicles [1] - The Long March 8A rocket incorporated several technological innovations, including full-process automation, active drift control during takeoff, and supercooled liquid oxygen refueling [1]

据证监会网站披露，蓝箭航天空间科技股份有限公司于7月29日在北京证监局办理辅导备案登记，拟首 次公开发行股票并在科创板上市。 公司上市辅导机构为中国国际金融股份有限公司，律师事务所为上海市锦天城律师事务所，会计师事务 所为立信会计师事务所（特殊普通合伙）。 蓝箭航天首次公开发行股票并在科创板上市辅导备案报告显示，公司成立于2015年6月，注册资本3.6亿 元。公司官网显示，公司总部位于北京亦庄经济技术开发区，是国内头部民营商业航天企业。 6月26日，相关机构发布的《2025全球独角兽榜》显示，蓝箭航天估值为200亿元，一年间增长90亿元。 公司自主研制的朱雀三号可重复使用垂直回收试验箭，已于2024年9月在酒泉卫星发射中心完成10公里 级垂直起降返回飞行试验。2025年6月20日，朱雀三号可重复使用运载火箭一级动力系统试车，在东风 商业航天创新试验区顺利完成。 今年4月，蓝箭航天第100台天鹊系列液氧甲烷火箭发动机下线。蓝箭航天表示，这标志着公司在火箭动 力系统领域成功实现了从"单台突破"到"批量制造"的跨越，开启了规模化应用的新阶段。 当前，我国商业航天已来到技术突破与落地验证的关键节点。蓝箭航天、深蓝航天 ...

江海证券指出，英伟达H20芯片获准恢复对华销售，将缓解国内算力卡短缺压力，并带动下游大模 型及AI应用的发展。Meta宣布将在人工智能领域投入数千亿美元，未来有望持续上修AI资本开支，相 关供应链如PCB、光模块、交换机等将显著受益。此外，卫星互联网板块迎来密集催化，政策支持持续 深化，5G-A及6G标准研究也在稳步推进，通信行业长期发展前景向好。AI算力需求增长叠加通信技术 升级，行业整体呈现积极态势。 通信ETF（515880）跟踪的是通信设备指数（931160），该指数从市场中选取涉及通信网络基础设 施、通信终端设备等业务的上市公司证券作为指数样本，以反映通信设备相关上市公司证券的整体表 现。成分股主要为在通信设备制造及相关技术服务领域具备核心竞争力的企业，能够体现该行业的技术 进步和发展趋势。在风格配置上，该指数偏向于科技成长型。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 注：如提及个股仅供 ...

在卫星互联网领域，SpaceX的"星链"系统同样占据主导地位。截至2024年底，星链已发射7568颗卫星， 在轨运行6690颗，成为全球最大的卫星运营商。星链不仅为乌克兰军队提供关键通信支持，还在全球范 围内拓展应用场景。 更关键的是，SpaceX的发射频率极高，2025年2月，猎鹰9号火箭已完成第21次发射，其中一枚火箭重 复使用次数达到26次，这种效率让其他公司望尘莫及。 比如，SpaceX与巴哈马签署协议，允许火箭助推器降落在该国境内，这为航天任务带来更大灵活性。 此外，星链还与T-Mobile合作，推出卫星移动电话服务，进一步扩大市场份额。 马斯克显然早就为这种依赖局面做好了准备。他不仅在技术上建立了难以逾越的壁垒，还在商业布局上 多管齐下。特斯拉作为马斯克的另一核心业务，2025年7月股价达到316.06美元，总市值1.02万亿美元， 为其提供了强大的资金支持。星舰项目尽管多次试飞失败，但仍在持续推进，一旦成功，将彻底改变太 空探索的格局。这种多元化布局让马斯克在面对政府压力时有了更多底气。完整内容查看视频 ...

Group 1: Key Companies and Their Performance - Shenghong Technology saw a net purchase of 11.89 billion, with northbound funds aggressively buying 14.32 billion, indicating strong foreign investment interest in AI computing hardware [3][8] - Guangxun Technology had a net purchase of 4.92 billion, driven by a profit forecast increase of 95% and bulk shipments of 1.6T optical modules [4][10] - Shuo Beid had a net purchase of 4.22 billion, with significant retail investor activity, but a high turnover rate of 39% raises concerns about sustainability [6][11] Group 2: Market Trends and Investment Strategies - There is a clear divide between northbound funds favoring technology stocks and institutions shifting towards lower PE manufacturing stocks, indicating a cautious approach to high-valuation tech [8][9] - The policy environment is supportive of AI computing and optical communication sectors, with Shanghai issuing 6 billion in computing vouchers, benefiting companies like Shenghong and Guangxun [10] - The market is characterized by speculative trading in concept stocks, with a warning against high turnover stocks like Shuo Beid, which may not hold long-term value [11][12]