Market Overview - A-shares opened lower on August 28 but turned positive, with the Shanghai Composite Index up 0.48% to 3818.72 points and the Shenzhen Component Index up 1.25% [1][2] - Over 2500 stocks declined while 2600 stocks rose, with trading volume exceeding 1 trillion yuan for the 67th consecutive day [1][2] Sector Performance - Chip stocks showed strong fluctuations, with the Sci-Tech 50 index rising over 4% and SMIC increasing over 12%, reaching a historical high [3][4] - The AI industry is gaining momentum following the State Council's release of a roadmap for AI development, which is expected to boost domestic chip procurement by large model developers and internet platforms [5] Satellite Internet Sector - The satellite internet index surged by 4.05%, with stocks like China Satellite and Chuangya Lichuang hitting the daily limit [5][6] - The Ministry of Industry and Information Technology issued guidelines to promote the satellite communication industry, aiming for over 10 million users by 2030 [6] Investment Sentiment - Market sentiment is improving, with significant gains in low-valuation, high-dividend sectors, particularly in banking stocks [8] - Analysts predict a sustained bull market over the next 2 to 3 years, with potential for funds to flow into underperforming sectors [8][9] Asset Revaluation - The narrative of asset revaluation in China is ongoing, focusing on innovation capabilities, stabilization in real estate prices, and the positive effects of macro policies on the economy [9]

文 | 刘婧琼 编辑 | 阿至 封面来源 | 企业提供 36氪获悉，天基信息融合应用服务商北京天行探索科技有限公司（以下简称"天行探索"）近日宣布完成千万级天使轮融资，本轮由陆石投资独家投资，所 筹资金用于核心技术研发和研发团队组建。 天行探索成立于2025年4月，专注于卫星互联网融合信息平台的研发运营与卫星通信终端的研发制造，为汽车、海洋等消费级客户提供卫星"通导感"功能 服务和数据增值服务。创始团队均曾就职于头部航天央企和卫星互联网企业，参与过北斗、高分、卫星互联网等航天重大工程，拥有近20年卫星终端研制 和市场应用经验。核心团队为通信、汽车、海洋复合背景，具备丰富的卫星通信和消费级工业品工程化经验。 据创始人介绍，天行探索正在加速推进软件和硬件产品的研发。目前，融合信息服务平台APP、卫星窄带终端和宽带终端均已完成设计，陆续进入测试和 生产阶段，到9月左右，天行探索将对外正式发布这三款产品的1.0版本。 在商业化上，天行探索早期收入将以销售终端硬件为主。在公司管理层看来，目前天行探索的终端硬件成本具备相对优势，"第一我们不自主建厂，避免 重资产投入；第二所有产品严格遵循车规级制造标准；第三面向的市场具备 ...

【导读】A股三大股指拉升飘红，科创50指数涨幅扩大至3.55%，寒武纪大涨 西部超导、中芯国际、寒武纪领涨。寒武纪股价最高攀升至1446.99元/股。 卫星互联网概念股走强 卫星互联网概念股走强，卫星互联网指数开盘涨幅超4%，中国卫星（600118）涨停。 星网宇达（002829）涨停，创远信科涨14.26%，华力创通（300045）涨13.08%，航天环宇、北斗星通 （002151）等涨幅居前。 | 序号 | 名称 | 现价 | 涨跌幅 | 总市值 | 年初至今 | | --- | --- | --- | --- | --- | --- | | 1 | 创远信科 | 30.28 | 14.26% | 43亿 | 104.77% | | 2 | 华力创通 | 25.50 | 13.08% | 169亿 | 22.07% | | 3 | 中国卫星 | 40.10 | 10.01% | 474亿 | 46.94% | | ব | 星网宇达 | 23.78 | 9.99% | 49亿 | 25.42% | | 5 | 航天坏宇 | 26.80 | 8.37% | 109亿 | 34.00% | | e | 北斗雷通 ...

Group 1 - The satellite sector is experiencing significant growth, with the launch of the first and largest satellite ETF (159206) attracting attention, showing a 3.89% increase as of 9:31 AM on August 28, 2023 [1] - Key stocks in the satellite ETF, including China Satellite and Xingwang Yuda, reached their daily limit, while Huazhong Chuantong rose over 14% [1] Group 2 - Recent policies in commercial aerospace indicate a turning point for the industry, with the Ministry of Industry and Information Technology issuing guidelines to promote satellite communication, aiming for over 10 million users by 2030 [3] - The issuance of satellite internet licenses marks a significant step towards commercial operations in China's satellite internet sector [3] Group 3 - Galaxy Securities highlights that the satellite internet sector is at a critical point for large-scale networking, with the new licenses focusing on low-orbit satellite constellations, which will accelerate the networking process and commercialization [4] - Traditional telecom operators are entering the satellite service market, exemplified by China Unicom's successful launch of four low-orbit satellites for IoT communication [4] Group 4 - Longcheng Securities notes that the satellite internet networking process is accelerating, with major constellations expected to enter the launch phase by 2025-2026, supported by advancements in ground infrastructure and rocket technology [4] - The global low-orbit satellite internet market is characterized by a competitive landscape driven by national policies, technological advancements, and market demand, indicating a promising future for investment opportunities in this sector [4] Group 5 - The satellite ETF (159206) tracks the Guozheng Commercial Satellite Communication Industry Index, focusing on commercial aerospace and satellite communication, with a 64% weight on satellite manufacturing [5] - As of August 27, 2025, the fund size of the satellite ETF (159206) reached 441 million yuan [5]

Group 1 - The commercial aviation sector is showing positive performance, with the Aerospace ETF Tianhong (159241) increasing by 0.72% as of August 28 [1] - The Aerospace ETF Tianhong has seen a significant increase in shares, with over 91% growth year-to-date as of August 27, making it the top performer among similar funds [1] - The index tracked by the Aerospace ETF Tianhong has over 98% weight in the defense and military industry, focusing on key areas such as large aircraft manufacturing, low-altitude economy, and commercial aerospace [1] Group 2 - The Ministry of Industry and Information Technology has issued guidelines to optimize business access and promote the satellite communication industry, aiming for significant improvements by 2030 [2] - The guidelines propose 19 measures across six areas to enhance the satellite communication industry, including expanding market access and improving regulatory frameworks [2] - The trend in the satellite internet sector is expected to improve due to increasing policy support, reduced costs of satellite manufacturing, and advancements in satellite technology [2] Group 3 - The satellite communication industry is gaining strategic importance, with clear policy directions and an ongoing optimization of business access and licensing processes [3] - There is an anticipated industry turning point with high-frequency launches, suggesting investment opportunities in satellite communication service providers and related sectors [3]

【环球网财经综合报道】日前，工信部印发优化业务准入促进卫星通信产业发展指导意见提出，到2030 年，卫星通信管理制度及政策法规进一步完善，手机直连卫星等新模式新业态规模应用，发展卫星通信 用户超千万。 对此，中信证券撰文指出，卫星通信产业业务准入工作正持续优化，牌照发放工作或将加快推进；国内 行业层面，高频发射已至，产业拐点在即，并建议关注卫星通信服务提供商、卫星通信运营及服务、卫 星制造产业链、地面设备制造等领域的投资机遇。 中商产业研究院也发布报告指出，近年来，我国高度重视卫星互联网产业发展，先后出台了《国家数据 基础设施建设指引》《关于推动未来产业创新发展的实施意见》《绿色航空制造业发展纲要（2023- 2035年）》《"十四五"数字经济发展规划》《"十四五"软件和信息技术服务业发展规划》等一系列政策 举措，为卫星互联网产业的发展提供了有力的政策保障；在利好政策及低轨卫星星座快速布局的推动 下，中国卫星行业经历稳定增长。 同时，中商产业研究院发布的《2025-2030年中国卫星互联网行业市场发展现状及投资规划建议报告》 显示，中国卫星行业市场规模由2020年的629亿元增加至2024年的827亿元，复合 ...

Core Viewpoint - The three major indices opened lower on August 28, with the Shanghai Composite Index down 0.1%, the Shenzhen Component down 0.33%, and the ChiNext Index down 0.58% [1] Sector Performance - Active sectors at the opening included gas, precious metals, satellite internet, and 6G concepts [1] - Declining sectors at the opening included energy metals, insurance, liquid cooling, and rare earth permanent magnet concepts [1]

Core Viewpoint - The Ministry of Industry and Information Technology released guidelines to optimize business access and promote the development of the satellite communication industry, emphasizing the expansion of private sector participation and the establishment of new satellite communication services [1][2]. Group 1: Industry Development Goals - By 2030, the satellite communication management system and policies will be further improved, with a significant enhancement in the comprehensive development level of infrastructure, industry supply, technical standards, and international cooperation [1]. - The guidelines aim to achieve over 10 million satellite communication users and integrate satellite communication into the new development pattern, contributing to high-quality economic and social development [1]. Group 2: Key Measures and Strategies - The guidelines propose 19 measures across six areas to promote high-quality development in the satellite communication industry, including orderly market expansion, application scenario expansion, and strengthening regulatory oversight [1]. - There is a focus on accelerating the development of low Earth orbit satellite internet to achieve global broadband coverage and support direct satellite connections for mobile devices [2]. Group 3: Industry Trends and Opportunities - The rapid development of satellite internet and the integration of space and ground communication are emerging as significant trends in the information and communication technology industry, potentially creating new economic growth points [2]. - The guidelines encourage the integration of satellite communication with next-generation information technologies such as 5G/6G and artificial intelligence, enhancing communication capabilities across various sectors including emergency communication and digital inclusion [2].

Core Viewpoint - The three major telecom operators in China are actively entering the satellite internet sector, supported by recent government guidelines aimed at optimizing the satellite communication industry by 2030 [1][2]. Group 1: Government Guidelines - The Ministry of Industry and Information Technology issued guidelines to enhance the satellite communication management system and promote the integration of satellite communication into the new development framework, aiming for over 10 million satellite communication users by 2030 [1]. - The guidelines encourage telecom operators to collaborate with satellite companies to explore the potential of high-orbit satellites like Tiantong and Beidou, promoting direct satellite connections for mobile devices [1]. Group 2: Major Telecom Operators' Initiatives - China Mobile has launched two low-orbit experimental satellites in 2023, including the world's first satellite capable of verifying 5G integrated technology [2]. - China Telecom plans to offer direct satellite connection services for mobile phones and cars, having overcome key technical challenges in satellite communication [2][3]. - China Unicom has successfully launched four low-orbit satellites and aims to integrate satellite communication with the Internet of Vehicles through strategic partnerships [3]. Group 3: Challenges in Satellite Internet Development - The development of satellite internet faces challenges such as differences in satellite-ground network architecture, high network construction costs, and performance gaps compared to terrestrial networks [4]. - China Mobile is working on a technology system to reduce the number of satellites needed for integrated networks and lower costs by 10% per satellite [5]. Group 4: Strategic Importance of Satellite Internet - The shift towards satellite internet is seen as a strategic necessity for telecom operators, marking a fundamental change from previous focuses on terrestrial mobile communication [6]. - The collaboration between telecom operators and satellite companies is expected to accelerate the commercialization of low-orbit satellite constellations, leveraging the operators' extensive user base and established sales channels [6].

卫星通讯产业再迎利好 多家机构给出相关解读 工业和信息化部印发《关于优化业务准入促进卫星通信产业发展的指导意见》，提出到2030年，卫星通 信管理制度及政策法规进一步完善，产业发展环境持续优化，各类经营主体创新活力充分迸发，基础设 施、产业供给、技术标准、国际合作等综合发展水平显著提升，手机直连卫星等新模式新业态规模应 用，发展卫星通信用户超千万，推动卫星通信充分融入新发展格局，有力服务经济社会高质量发展。 中国银河证券研报表示，据报道，相关部门近期将会发放卫星互联网牌照。卫星互联网组网进程或将加 速，牌照发放利好组网进程以及商业化探索。政策引领，生态构建不断完善，牌照发放预计将提升组网 热情。卫星互联网不仅是我国未来可能的巨大需求增量，同时也作为能带动全产业链发展的产业，宇航 级的器件代表了全球领先的先进制造能力，赋能千行百业协同发展，以三体计算星座等为代表的太空算 力建设也有望带来新的市场空间。 一财资讯 中信证券研报表示，8月27日，工信部印发《关于优化业务准入促进卫星通信产业发展的指导意见》， 旨在有序推动卫星通信业务开放。卫星通信产业战略地位凸显，政策导向明确。展望后续，卫星通信产 业业务准入工作正 ...