（文章来源：新华财经） 新华财经北京11月26日电工业和信息化部发布关于组织开展卫星物联网业务商用试验的通知。通知称， 申请开展卫星物联网商用试验的企业，应通过构建卫星物联网系统，以及业务支撑系统（BSS）、运营 支撑系统（OSS）和管理支撑系统（MSS），依法依规在全国范围开展卫星物联网业务。通过开展卫星 物联网业务商用试验，丰富卫星通信市场供给、激发市场主体活力、提升行业服务能力、建立安全监管 体系，形成可复制可推广的经验和模式，支持商业航天、低空经济等新兴产业安全健康发展。 ...

Core Viewpoint - Beijing Beidou Star Navigation Technology Co., Ltd. (the "Company") approved a new related party transaction with Beidou Zhili Technology Co., Ltd. during its board meeting on November 25, 2025, involving a total transaction amount of 29.15714 million yuan, which accounts for 0.57% of the Company's latest audited net assets [1][8][20]. Summary by Sections Related Party Transactions - The Company’s wholly-owned subsidiary, Beidou Star Navigation (Chongqing) Intelligent Technology Development Co., Ltd. will lease properties to Beidou Zhili for a total of 24.65714 million yuan, including utility fees [1][8]. - The Company’s subsidiary, Jiaxing Jiali Electronics Co., Ltd., is expected to sell antenna products to Beidou Zhili and its subsidiaries for an estimated amount of 1.5 million yuan from November to December 2025 [1][8]. - Another subsidiary, Hexin Star Technology (Beijing) Co., Ltd., is expected to sell chips and modules to Beidou Zhili and its subsidiaries for an estimated amount of 3 million yuan during the same period [1][8]. - The total related party transaction amount is 29.15714 million yuan, which represents 0.57% of the Company’s latest audited net assets [1][2][20]. Approval and Compliance - The board meeting was legally convened with all seven directors present, and the related party transaction was approved unanimously [1][8]. - The independent directors reviewed and approved the proposal, confirming that the transactions are based on fair market principles and do not harm the interests of the Company or its shareholders [3][20]. Financial Impact - As of the announcement date, the total related party transactions with Beidou Zhili and its subsidiaries over the past twelve months amount to 49.87177 million yuan, which is 0.98% of the Company’s audited net assets for the fiscal year 2024 [2][21]. - The transactions are considered routine business activities and are expected to have no adverse impact on the Company's financial condition or operational independence [20].

11月25日，工业和信息化部发布关于组织开展卫星物联网业务商用试验的通知。具体如下： 各省、自治区、直辖市通信管理局，各相关企业： 卫星物联网商用试验的服务对象为利用卫星物联网开展应用的企事业单位，主要包括工业、交通、能 源、农业、应急等领域中利用卫星物联网开展数据采集和传输的行业用户。 （四）试验目标 通过开展卫星物联网业务商用试验，丰富卫星通信市场供给、激发市场主体活力、提升行业服务能力、 建立安全监管体系，形成可复制可推广的经验和模式，支持商业航天、低空经济等新兴产业安全健康发 展。 二、试验申请审批 发展卫星物联网是贯彻落实党中央、国务院决策部署，支持商业航天发展的重要举措，对进一步全面深 化改革、发展新质生产力具有重要意义。按照《工业和信息化部关于优化业务准入促进卫星通信产业发 展的指导意见》有关要求，现组织开展卫星物联网业务商用试验。有关事项通知如下。 一、试验内容 （一）业务类型 卫星物联网业务是指通过卫星通信技术，为数据采集终端、穿戴设备、手持终端等各类设备，以及汽 车、船舶、飞机等交通工具提供广域物联网连接的一种低速数据业务。 （二）申请主体 申请开展卫星物联网商用试验的企业，应通过构建卫星 ...

人民财讯11月26日电，工业和信息化部发布关于组织开展卫星物联网业务商用试验的通知，卫星物联网 业务是指通过卫星通信技术，为数据采集终端、穿戴设备、手持终端等各类设备，以及汽车、船舶、飞 机等交通工具提供广域物联网连接的一种低速数据业务。申请开展卫星物联网商用试验的企业，应通过 构建卫星物联网系统，以及业务支撑系统(BSS)、运营支撑系统(OSS)和管理支撑系统(MSS)，依法依规 在全国范围开展卫星物联网业务。 ...

Market News - US stock indices collectively rose, with the Dow Jones up 664 points (1.43%), S&P 500 up 0.91%, and Nasdaq up 0.67%. Major tech stocks showed mixed results, with Meta rising over 3% and Nvidia down 2.59% [1] - International oil prices fell, with light crude oil futures for January down $0.89 to $57.95 per barrel (1.51% drop) and Brent crude down $0.89 to $62.48 per barrel (1.4% drop). Spot gold decreased by 0.14% to $4130.59 per ounce [1] Industry Insights - Singapore's National AI Strategy is shifting its Southeast Asian language model project from Meta to Alibaba's Qwen open-source architecture, marking a significant expansion of Chinese open-source AI models globally. The new model quickly topped an open-source ranking for Southeast Asian language capabilities [2] - The satellite internet sector is becoming a new frontier in global tech competition, with the market size currently around 40-50 billion yuan, expected to exceed 200-400 billion yuan by 2030, with an annual growth rate of 10%-28% [4] - The "manhua" (comic-drama) market is rapidly growing, driven by tech giants like ByteDance and Kuaishou, combining anime and short drama formats. This sector is attracting capital and creators due to its low-cost, high-efficiency production advantages [5][6] Company Developments - Beijing Blue Arrow Aerospace's Zhuque-3 rocket is in the final preparation stages for its maiden flight, supported by a national plan to enhance commercial aerospace development [3] - Companies like Chinese Online, Yidian Tianxia, and Tuolisi are identified as potential beneficiaries of the expanding AI and content markets [2][5][6] - Several companies, including Langhong Technology and Zhongchen Co., announced plans for significant share reductions by major shareholders, indicating potential shifts in ownership dynamics [7][8][9]

（编辑 任世碧） 证券日报网讯 梅安森11月25日在互动平台回答投资者提问时表示，公司参股子公司知与行目前已向市 场推出多个型号的稀疏相控阵卫星通信地面接收终端产品，产品可灵活适配车辆、船舶、飞行器等移动 载体，有效覆盖矿山、隧道、海洋、应急、野外勘测等无5G信号覆盖的场景。目前相关业务商业推广 尚在进行中，请投资者注意投资风险。知与行未来仍将以卫星通信为核心发展方向，持续跟踪行业发展 态势，从终端产品研发推广和运营服务两端发力，积极参与卫星通信网络建设。 ...

Core Insights - The satellite communication industry in China is entering a golden development period, driven by policy support, technological advancements, and increasing demand, with a market potential exceeding trillions [2][3] - The Ministry of Industry and Information Technology has set a target of over 10 million satellite communication users by 2030, promoting new business models such as direct satellite connectivity for mobile phones [1][2] - StarNet Yuda is positioned as a key player in the industry, leveraging its "technology + products + experience" advantages to provide comprehensive communication solutions across various domains [1][4] Industry Overview - Satellite communication is recognized as a strategic infrastructure supporting the digital economy, with its importance growing in national security and global competition [2] - A robust policy framework has been established to support the industry, including the promotion of low-orbit satellite internet and innovative terminal device connectivity [2][3] - The market for satellite communication equipment in China is projected to reach 66.34 billion yuan by 2025, with the global market expected to grow to 728.88 billion yuan by 2032, reflecting a compound annual growth rate of 17.32% [3] Company Positioning - StarNet Yuda has built a competitive edge through its unique technological capabilities, product offerings, and industry experience, establishing high barriers to entry [4][6] - The company has developed a complete product chain from core components to terminal devices and system-level solutions, enabling it to provide one-stop services [5] - StarNet Yuda's long-standing experience in defense and military sectors has created a strong trust barrier, allowing it to adapt quickly to civilian market needs [6] Application Expansion - The company is expanding its applications from traditional sectors like maritime and aviation to consumer markets, industrial interconnectivity, and emergency response [3][7] - In the consumer sector, StarNet Yuda's solutions are addressing connectivity challenges in remote areas, supporting rural revitalization and disaster response [7] - The company's technology is also facilitating digital transformation in industries such as smart transportation, logistics, and energy, providing stable data transmission and remote control capabilities [7][8] Future Outlook - StarNet Yuda aims to capitalize on the booming satellite communication market by focusing on technological innovation and application scenarios [9] - The company plans to enhance its product performance and cost competitiveness while expanding its presence in emerging fields like vehicle networking and satellite IoT [9] - With the support of national strategies, StarNet Yuda is transitioning from a device supplier to a solution provider, aiming for global market expansion [9]

Core Viewpoint - Dongzhu Ecology is facing severe financial distress, with a significant lawsuit and multiple undisclosed legal cases threatening its viability [1][2] Financial Situation - Dongzhu Ecology has been sued for a total of 5.52 billion yuan, which is more than double its total revenue of 2.58 billion yuan for the first three quarters of the year [1] - The company reported a loss of 315 million yuan in 2023, with projected losses doubling to 630 million yuan in 2024 [1] - Revenue has plummeted from over 800 million yuan to 376 million yuan, a decline of more than 54.6% [1] Legal Issues - The lawsuit includes claims for principal amounts of 1.66 billion yuan and 1.91 billion yuan, along with various financial fees totaling over 1.3 billion yuan [1] - Dongzhu Ecology has acknowledged 16 additional undisclosed lawsuits with a cumulative amount of 630 million yuan, indicating total debts exceeding its annual revenue [1] Strategic Moves - Despite its financial troubles, Dongzhu Ecology plans to acquire 89.49% of a satellite technology company, Kairuixingtong, through a combination of stock issuance and cash [1] - This strategic shift towards satellite communication and space information technology is viewed as a desperate attempt to pivot from its core business of environmental protection [1][2] Market Perception - The market may be skeptical about the feasibility of a struggling company transitioning into the high-tech satellite industry, raising concerns about investor confidence [2] - The company's shift from traditional environmental projects to the "space economy" is perceived as a survival tactic rather than a genuine strategic transformation [2]

来源：环球网 【环球网科技综合报道】11月25日消息，"天通+北斗"国产星基高精度定位服务近日在武汉正式开启试 商用。这一举措不仅为北斗系统规模化应用注入强劲动力，更对我国综合PNT（定位、导航、授时）体 系自主化建设起到重要支撑作用，标志着我国卫星通信与导航融合应用迈入新阶段。 作为我国首个自主建设的卫星移动通信系统，天通卫星系统由中国航天科技集团有限公司研制、中国电 信独家运营，自2016年首颗"天通一号01星"成功发射以来，已构建起覆盖广泛、稳定可靠的卫星通信网 络。中国电信集团市场部副总经理沈骏祥介绍，天通卫星的覆盖范围不仅囊括我国全境领土和领海，还 延伸至东南亚、西太平洋等地区，更已实现对中国及周边地区、中东、非洲，以及太平洋和印度洋大部 分海域的全面覆盖，在应急通信、海洋通信和偏远地区通信保障等领域发挥着不可替代的作用。 随着智能手机直连卫星技术的突破性进展，天通卫星系统的应用场景正持续拓展。目前，该系统已与华 为、小米、vivo、OPPO、荣耀、三星等主流品牌的多款旗舰机型实现兼容，让用户在无地面网络覆盖 的极端环境下，也能通过手机便捷实现卫星通话与数据传输，真正将卫星通信服务融入大众生活。 天 ...

来源：环球网 【环球网科技综合报道】11月25日消息，据GeekWire报道，亚马逊近日正式发布面向企业用户的旗舰 级卫星互联网终端设备Leo Ultra，同时宣布Amazon Leo卫星网络服务启动企业预览，标志着其在卫星 通信领域的布局进一步落地。 据介绍，Leo Ultra终端搭载亚马逊定制芯片，集成专有射频（RF）设计与信号处理算法，在优化吞吐 量的同时实现了延迟最小化。该设备配备全双工相控阵天线，下载速率最高可达1Gbps，上传速率达 400Mbps，性能参数在当前同类设备中处于领先水平。 在适应复杂环境方面，Leo Ultra进行了针对性设计，产品具备坚固耐候特性，能够抵御高低温、降水及 强风等多种自然条件考验，可满足不同场景下的企业使用需求。 此次启动的Amazon Leo服务企业预览阶段，部分企业客户将率先获得使用生产级硬件和软件测试网络 的权限。亚马逊表示，通过提前收集企业用户反馈，将进一步完善服务方案，为后续推出行业定制化网 络解决方案奠定基础，助力企业用户实现更高效的网络连接。（纯钧） ...