2025年12月10日早盘，A股三大指数集体小幅低开，截至 10:13，中证高端装备细分50指数下跌0.01%。 成分股方面涨跌互现，中科星图领涨5.69%，菲利华上涨3.68%，三角防务上涨1.81%；富士达领跌，航 天发展、四创电子跟跌。 高端装备ETF(159638)紧密跟踪中证高端装备细分50指数，聚焦航空航天、军工装备、卫星导航等细分 领域龙头企业。 场外投资者可通过中证高端装备细分50ETF联接基金（018028）布局行业轮动机会。 展望未来，中信证券指出，随着中国星网和G60千帆星座先后进入批量化发射阶段，以及海南商业航天 发射场和商业运载火箭的投入使用，大运力、低成本趋势正引领商业航天开启新时代，同时空间算力也 进一步打开行业天花板，万亿市场规模的新赛道即将扬帆起航，为相关产业链带来巨大的发展契机。 数据显示，截至2025年11月28日，中证高端装备细分50指数前十大权重股分别为中航沈飞、航发动力、 中航光电、中航西飞、菲利华、西部超导、中航机载、中国长城、航天电子、中国卫星，前十大权重股 合计占比44.74%。 近期商业航天迎来密集催化，"朱雀三号"首飞为我国商业航天向可复用时代迈出的关键一 ...

Group 1 - The core viewpoint of the articles highlights the performance of the Zhongzheng High-end Equipment Sub-index 50, which has seen a decline of 1.00% as of December 9, 2025, with mixed performance among constituent stocks [1] - The military industry is experiencing an upward trend, driven by commercial aerospace developments, including the successful launch of the Zhuque-3 reusable rocket and a partnership between "Qianfan Constellation" and Airbus [1] - The report from Open Source Securities indicates that the demand for space computing and the maturation of reusable rocket technology are expected to lead to a significant reduction in costs and an increase in launch capabilities within China's commercial aerospace sector [1] Group 2 - The top ten weighted stocks in the Zhongzheng High-end Equipment Sub-index account for 44.74% of the index, with key players including AVIC Shenyang Aircraft, Aero Engine Corporation of China, and China Aerospace Science and Technology Corporation [1] - The High-end Equipment ETF (159638) closely tracks the Zhongzheng High-end Equipment Sub-index, focusing on leading companies in aerospace, military equipment, and satellite navigation sectors [1] - Investors can access industry rotation opportunities through the Zhongzheng High-end Equipment Sub-index ETF linked fund (018028) [2]

（文章来源：每日经济新闻） 每经AI快讯，12月9日，卫星导航板块短线拉升，龙洲股份涨停，陕西华达涨超10%，新雷能、超捷股 份、乾照光电、佳缘科技、雷科防务等跟涨。 ...

Core Viewpoint - The establishment of a management system for satellite navigation positioning reference stations in Liaoning Province aims to address issues related to construction, operation, and data security, ensuring efficient and safe management of these critical infrastructures [1][2] Group 1: Management Framework - The management measures apply to the construction, operation, maintenance, and supervision of reference stations within the administrative region of Liaoning Province [1] - The provincial natural resources department is responsible for unified supervision, while municipal and county-level departments oversee local management [1] Group 2: Operational Guidelines - The management emphasizes reasonable layout, legal registration, classified services, resource sharing, and security assurance [2] - A unified satellite navigation positioning reference service system will integrate 142 provincial reference stations and various scattered industry stations to avoid redundancy and disorganized construction [2] Group 3: Service Provision - Reference stations can provide two types of services: surveying reference services managed by the provincial natural resources department and other social services provided by other entities [2] - Construction units must have the appropriate surveying qualifications, with those providing surveying reference services required to hold a first-class surveying qualification [2] Group 4: Data Security and Marketization - The construction of reference stations requires prior registration, and all involved units must establish data security protocols [2] - The management framework allows for data property registration, authorized operation, and circulation transactions, paving the way for the market application of reference station data [2]

Market Overview - A-shares experienced slight fluctuations with major indices such as the Shanghai Composite Index and Shenzhen Component Index showing minor gains, while market turnover continues to shrink [1] - The Shenzhen Component Index rose by 0.39% to 13057.09, the Shanghai Composite Index increased by 0.08% to 3878.99, and the ChiNext Index gained 0.47% to 3082.05 [2] Sector Performance - The defense and military industry, along with sectors like glass fiber and industrial metals, saw significant gains, while textiles, real estate, banking, and shipping faced declines [2] - The satellite navigation sector opened strongly and continued to rise, with notable stocks like Chaojie Co. and Junya Technology hitting the daily limit [4] Satellite Navigation Sector - The satellite navigation sector is experiencing a surge, with the "Qianfan Constellation" project making strides towards global application, marking a key step in integrated air-ground communication solutions [6] - The demand for satellite services in low-altitude economy, vehicle networking, and smart cities is growing explosively, with a compound annual growth rate of over 27% in satellite launches in China over the past decade [7] Strait West Coast Sector - The Strait West Coast concept stocks have been on a strong upward trend, with the sector index rising nearly 3% to reach a historical high [9] - Recent policies in Fujian aimed at supporting Taiwanese enterprises and enhancing cross-strait cooperation are expected to benefit the sector [11]

每经AI快讯，12月5日，卫星导航板块短线拉升，航天科技涨停，上海港湾、超捷股份、天箭科技此前 封板, 佳缘科技涨超10%，海特高新、航天发展、久之洋、航天软件、航天晨光等跟涨。 每经AI快讯，12月5日，卫星导航板块短线拉升，航天科技涨停，上海港湾、超捷股份、天箭科技此前 封板, 佳缘科技涨超10%，海特高新、航天发展、久之洋、航天软件、航天晨光等跟涨。 ...

格隆汇12月5日丨四维图新(002405.SZ)在投资者互动平台表示，四维图新参股公司六分科技已落地多个 卫星导航定位系统商业化应用场景，包括为滴滴青桔等共享单车提供实时高精度位置信息、乘用车软硬 服一体定位终端、消费类和专业类定位设备、面向低速无人车的P+V（高精度定位服务+环境感知）方 案和具身智能小脑-空间X运动能力解决方案等。 ...

证券日报网讯12月4日，华是科技（301218）在互动平台回答投资者提问时表示，公司卫星导航是单北 斗卫星定位终端接收定位信息进行船舶定位，主要通过卫星短报文或4G移动网络进行数据传输用于内 河船舶定位，可实现高精度定位，实时采集航速、航向等信息。在交通运输领域，适用于水上普通货 船、客船、渔船、公务船艇、渡船、危险品运输船等各类船舶，可为用户提供实时位置查询、历史轨迹 回溯、位置/轨迹共享、智能助航预警、船舶导航等服务，同时助力航运企业优化船队管理，实现船舶 精准调度。目前产品有部分订单。 ...

2025 年 12 月 4 日 星期＝ 天 首 区 " 潮 武汉市武昌区因地制宜发展新质生产力一线观察 本报记者 统 琦 不仅是建筑形态的突破,更是武昌从 力量矿"向"创新高比"转型的条正 武昌辖区拥有武汉大学生中国科学 文汉分院等 26 家高校园所有中国 20 20 万 ,是全国知名的智力资本 区。近年来,为推进科敦人才优势 新发展优势转化，一条围绕中国科 武汉分院和武汉大学的"环大学的"环大学" 2展带"运新被撞击败" 1 "力争用 5 一 10 年的时间 - 首赛集 1 女婴企业超 1000家, 实现片百集 E超 500 亿元。"式昌区经科局有关 人介绍,中科·武大智谷环高校院房 r发展带片区规划面积 3.9 平方公 软托 28 名两院院士、10 个全国重 验室的地厚科教实力,在新建 3 座 质楼宇的同时,引导 6 栋在量接学 新兴产业"腾笼换乌",致力打造中 区产业创新高出 早在今年３月,武昌区成立了中科武 谷村创产业破仑发展中心,通过教育 人,市安,利研院所,金融机构等多方资 均建"１ 靖+7 中心 的"十年" 系,涵盖项目孵化,企业培育,招聘"明 课备,全方位为创业者提供指导。 武汉大学测给学院在 ...

Core Viewpoint - The article discusses the current state of the A-share market, highlighting the negative consumer sentiment and its impact on retail sales growth, as well as the performance of various sectors including commercial aerospace and energy [3][16]. Consumer Sentiment and Retail Sales - As of September 2025, consumer capability and willingness to spend have contributed 4.98% and -0.48% respectively to retail sales growth, indicating that subsidy policies have not effectively improved consumer sentiment [3]. - The contribution of subsidized goods to retail sales has increased significantly, with subsidized goods accounting for 57.0% of retail sales in the first ten months of 2025, compared to 48.9% in 2024 [3]. Market Performance - On December 3, 2025, the A-share market saw a collective decline, with the Shanghai Composite Index down 0.51%, Shenzhen Component down 0.78%, and ChiNext down 1.12% [16]. - The total trading volume across the three markets reached 168.37 billion yuan, an increase of 76.3 billion yuan from the previous day, with over 3,800 stocks declining [16]. Sector Analysis - The coal sector showed strength, with companies like Dayou Energy and Antai Group hitting the daily limit due to increased seasonal demand amid cold weather [16]. - The commercial aerospace sector experienced mixed performance following the ZQ-3 rocket's successful launch but failed first-stage recovery, leading to volatility in related stocks [10][16]. Investment Recommendations - The article suggests focusing on the commercial aerospace sector, particularly companies involved in rocket propulsion, satellite internet applications, and satellite manufacturing, as the industry is expected to accelerate due to favorable policies and technological advancements [11].