东方证券研报指出，航天电子拟增资子公司航天火箭，积极融入商业航天发展新格局。本次增资的子公 司航天火箭，主要在测控系统、空间网络信息系统等领域提供地面测控设备、数据链、激光终端等多种 核心产品，也是配套低轨卫星激光通信的核心供应商。有利于提升航天电子产能，更好满足"十五五"航 天产业旺盛需求。有利于子公司持续开展大规模星间链路与弹性组网技术、空间动态集群组网数据链技 术、高性能芯片设计等核心技术攻关，继续保持行业技术领先地位。公司作为航天科技集团下属公司， 长期配套长征系列、神舟系列重点任务，技术积累和工程经验丰富。商业航天龙头+无人系统产业链链 长，公司进入快速发展阶段。参考可比公司26年78倍PE，对应目标价18.72元，维持"买入"评级。 ...

东方证券研报指出，航天电子拟增资子公司航天火箭，积极融入商业航天发展新格局。本次增资的子公 司航天火箭，主要在测控系统、空间网络信息系统等领域提供地面测控设备、数据链、激光终端等多种 核心产品，也是配套低轨卫星激光通信的核心供应商。有利于提升航天电子产能，更好满足"十五五"航 天产业旺盛需求。有利于子公司持续开展大规模星间链路与弹性组网技术、空间动态集群组网数据链技 术、高性能芯片设计等核心技术攻关，继续保持行业技术领先地位。公司作为航天科技集团下属公司， 长期配套长征系列、神舟系列重点任务，技术积累和工程经验丰富。商业航天龙头+无人系统产业链链 长，公司进入快速发展阶段。参考可比公司26年78倍PE，对应目标价18.72元，维持"买入"评级。 ...

中银证券研究团队认为，商业航天主题正突破"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，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。 12月17日午盘，截至13点59分，航空航天 ETF（159227）跌幅0.83%，成交额达2.89亿元，稳居同类第 一。持仓股中，中航成飞、迈信林、航天晨光等涨幅居前。 航空航天ETF（159227）紧密跟踪国证航天指数，成分股覆盖战斗机、航空发动机、火箭、导弹、卫 星、雷达等全产业链龙头，完美契合"空天一体"的战略方向。商业航天概念权重占比高达59%。前十大 重仓股中包含了航天发展、中国卫星、航天电子、中航机载、中航高科等行业龙头。是全市场规模最大 的航天相关ETF。 近日，"千帆星座"获国际订单，与空客达成合作，其"千帆星座"将集成至空客的机上宽带解决方案。空 客副总裁蒂姆·索默表示，此次合作强化了空客构建强大、多元化卫星生态系统的战略，并补充说，整 合庞大的近地轨道星座将为客户提供更大灵活性，以满足对高质量全球互联 ...

（原标题：彻底刷屏！刚刚，A股最赚钱新股来了！） 【导读】中一签最高可盈利39.5万元，沐曦股份成为A股全面注册制以来最赚钱新股；上午大科技集体 反弹， 旅游酒店板块持续拉升 中国基金报记者 张舟 12月17日上午，A股三大股指集体大涨，创业板指涨超1%。截至午间收盘，沪指涨0.17%，深证成指涨 0.83%，创业板指涨1.21%。 沪深两市半日成交额为1.02万亿元，较上个交易日缩量987亿元。个股跌多涨少，全市场共1578只个股 上涨，30只个股涨停，有3724只个股下跌。 从板块看，大科技集体反弹，锂矿、CPO概念股走高，通信设备、化肥农药、旅游酒店板块涨幅居前； 而此前上涨幅度较大的海南自贸区、商业航天等概念板块下挫。 港股方面，恒生指数、恒生中国企业指数等上涨，恒生科技、恒生生物科技等指数微跌。个股方面，腾 讯控股、阿里巴巴、美团、中芯国际、携程集团、京东集团、百度集团等纷纷上涨。 消息面上，12月16日，碳酸锂期货主力合约连续第二个交易日站上10万元/吨的大关，此前12月15日碳 酸锂期货主力合约收盘价上破10万元/吨，创下2024年6月份以来新高。 旅游酒店板块拉升高涨 上午，旅游酒店板块持续拉 ...

12月17日，卫星ETF(159206)盘中申购超2亿元。成分股卓胜微(300782)领涨，光库科技(300620)、移远通信(603236)等个股 跟涨。 | 1.359 -0.014 -1.02% | | | | | D星ETF ж 159206 | | --- | --- | --- | --- | --- | --- | | SZSE CNY 11:27:51 交易中 查看L2全景 | | | | | 部 > 0 + | | 净值走势 永赢国证商用卫星通信产 | | | で生 | 0.00% 120日 | 39.10% | | 59.22% 委差 171117 委比 | | | 5日 | 2.57% 250日 | 0.00% | | 卖五 | 1.364 | 1225 | 20日 | 17.56% 52周高 | 1.40 | | 卖回 | 1.363 | 8727 | 60日 | 16.65% 52周低 | 0.78 | | 家三 | 1.362 | 45604 | 实时申购赎回信息 | 申购 | 15 0 | | 1.361 | | 3357 | 笔数 | 123 | 84 | | 卖- | 1.3 ...

分析称，当前卫星产业正处在 "高规格政策与产业会议定调、划时代技术产品即将首飞、贯穿全年的发 射催化排期、以及现象级全民曝光预热" 的四重确定性利好叠加节点。航天电子的接连涨停与卫星产业 ETF的持续吸金，正是市场敏锐资金对这场即将到来的"航天大年"的提前布局与投票。在产业从实验室 走向规模化、从专业领域走向大众视野的关键转折点上，核心资产的价值重估行情有望持续深化。 消息面，中国航天即将迎来一个里程碑时刻。根据最新信息,由中国航天科技集团八院抓总研制的长征 十二号甲可重复使用运载火箭,计划于2025年12月中下旬在酒泉卫星发射中心执行其历史性的首次发射 任务。这并非一次普通的发射,它标志着中国航天"国家队"正式进军可重复使用火箭领域,一场以"降低成 本、提高效率"为核心的商业航天新竞赛,即将进入加速阶段。 12月17日，卫星板块分歧渐显。截至10时40分，卫星产业ETF(159218)跌2.29%，一度涨0.72%。交投持 续升温，成交额超1.1亿，连续10日成交破亿！ ...

Group 1: Market Overview - The defense and military industry sector experienced fluctuations, with commercial aerospace stocks showing mixed performance, as Aerospace Intelligence and Aerospace Technology both fell over 5%, while Aerospace Electronics reached a new historical high [1] - The high-profile defense and military ETF (512810) briefly dipped below the 10-day moving average, but the market premium rose against the trend, indicating strong buying interest [1] Group 2: Company Developments - AVIC Chengfei, a subsidiary of AVIC, plans to acquire over 200 acres of industrial land near Wenjiang Airport for project development, with a total investment of approximately 1 billion yuan [1] - The company also intends to implement a space equipment assembly base construction project, with an estimated investment of around 422 million yuan [1] Group 3: ETF Adjustments - The defense military ETF (512810) underwent its second rebalancing for the index tracking the China Securities Military Industry Index, effective December 15, 2025, with 5 stocks added and 4 stocks removed, resulting in a total of 80 constituent stocks [3][4] - The newly added stocks have a combined market capitalization exceeding 72.4 billion yuan, enhancing the index's leading attributes [4] Group 4: Stock Performance - AVIC Chengfei led the market with a rise of over 5%, reaching a market capitalization of 206.3 billion yuan [2] - The removed stocks from the ETF had a combined weight of 1.23%, suggesting a minimal impact on the overall index [4]

Core Viewpoint - The defense and aerospace sector is experiencing fluctuations, with mixed performance among commercial aerospace stocks, while the defense ETF shows signs of strong buying interest despite some declines in individual stocks [1][8]. Group 1: Market Performance - The defense and aerospace sector saw underwater fluctuations, with stocks like Aerospace Intelligence and Aerospace Technology dropping over 5%, while Aerospace Electronics reached a historical high [1][8]. - The market capitalization leader, AVIC Chengfei, led the gains with an increase of over 5% [1][8]. - The high-profile defense ETF (512810) briefly fell below its 10-day moving average but showed a reverse increase in market premium, indicating strong buying interest [1][8]. Group 2: Company Developments - AVIC Chengfei's wholly-owned subsidiary plans to acquire over 200 acres of industrial land near Wenjiang Airport for project development, with a total planned investment of approximately 1 billion yuan [1][8]. - The company also intends to implement a space equipment assembly base project with an estimated investment of about 422 million yuan [1][8]. Group 3: ETF Adjustments - The defense ETF (512810) underwent its second adjustment for the index tracking the China Securities Military Industry Index, effective December 15, 2025, with 5 new stocks added and 4 removed, resulting in a total of 80 constituent stocks [3][10]. - Newly included stocks have a combined market capitalization exceeding 72.4 billion yuan, enhancing the index's leading attributes [4][10]. - The removed stocks had a combined weight of 1.23%, suggesting minimal impact on the overall index [4][10].

Group 1 - The commercial aerospace sector in China is experiencing significant growth, with multiple stocks in the sector seeing substantial price increases in December 2025, indicating strong investor sentiment [2][3] - Major developments include the establishment of the "Aerospace Technology City" in Beijing, which aims to enhance collaboration among key players in the industry, including state-owned enterprises and private companies [3][26] - The market for commercial aerospace activities, which includes rocket launches, satellite manufacturing, and space tourism, is projected to reach a scale of trillions of yuan, reflecting a rapid acceleration in industrialization [3][4][5] Group 2 - Local governments are actively promoting the commercial aerospace industry, with Guangdong aiming for a related industry scale of 300 billion yuan by 2026 and other provinces like Shandong and Henan also prioritizing aerospace in their development plans [9][10] - The establishment of a 10 billion yuan industry investment fund in Beijing's Economic and Technological Development Zone is part of the efforts to support the commercial aerospace sector [8] - The number of new commercial aerospace companies has surged, with over 15 new firms established in August 2025 alone, indicating a robust entrepreneurial environment [10] Group 3 - The China Securities Regulatory Commission has included commercial aerospace in the fifth set of listing standards for the Sci-Tech Innovation Board, allowing unprofitable companies with core technologies to go public [11] - Companies are adopting diverse strategies, with some focusing on core rocket launch capabilities while others are specializing in niche areas within the aerospace supply chain [12][13] - The trend of "R&D in Beijing, production in the Yangtze River Delta" is becoming common among commercial aerospace firms, optimizing their operational efficiency [16][17] Group 4 - The capital market is becoming more discerning, with investors seeking companies that can deliver tangible results within the commercial aerospace supply chain [18] - Companies in upstream materials and core components are experiencing increased orders, reflecting a growing demand as the industry expands [19][20] - The shift from project-based satellite production to a more streamlined assembly line approach is transforming the satellite manufacturing sector, leading to increased efficiency and order volumes [21] Group 5 - State-owned enterprises are adapting to market dynamics, with the China Aerospace Science and Technology Corporation restructuring to focus on commercial market competitiveness [24][26] - Collaborations between state-owned and private enterprises are becoming more common, with private firms providing efficiency and cost advantages in non-core areas of the aerospace supply chain [25][26] - The establishment of the "Aerospace Technology City" aims to create an open and innovative industrial ecosystem, emphasizing the importance of collaboration across the aerospace sector [26][27]

分析称，当前卫星产业正处在 "高规格政策与产业会议定调、划时代技术产品即将首飞、贯穿全年的发 射催化排期、以及现象级全民曝光预热" 的四重确定性利好叠加节点。航天电子的接连涨停与卫星产业 ETF的持续吸金，正是市场敏锐资金对这场即将到来的"航天大年"的提前布局与投票。在产业从实验室 走向规模化、从专业领域走向大众视野的关键转折点上，核心资产的价值重估行情有望持续深化。 风险提示：基金有风险，投资需谨慎。 消息面，中国航天即将迎来一个里程碑时刻。根据最新信息，由中国航天科技集团八院抓总研制的长征 十二号甲可重复使用运载火箭，计划于2025年12月中下旬在酒泉卫星发射中心执行其历史性的首次发射 任务。这并非一次普通的发射，它标志着中国航天"国家队"正式进军可重复使用火箭领域，一场以"降 低成本、提高效率"为核心的商业航天新竞赛，即将进入加速阶段。 12月17日，卫星板块分歧渐显。截至10时40分，卫星产业ETF(159218)跌2.29%，一度涨0.72%。交投持 续升温，成交额超1.1亿，连续10日成交破亿！ ...