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 ...

Core Viewpoint - Amazon plans to deploy Kuiper satellite services in Vietnam, committing to invest $570 million by 2030 for infrastructure development [1] Group 1: Investment and Infrastructure - Amazon will build up to six ground stations and terminal manufacturing bases in Bac Ninh province in collaboration with local partners [1] - The establishment of "Amazon Kuiper Vietnam LLC" has been registered in Ho Chi Minh City, and an application for low Earth orbit satellite service operation has been submitted [1] Group 2: Service Objectives - The Kuiper project aims to provide broadband internet services to remote areas and islands through a low-orbit satellite network [1] - Amazon is currently applying for a pilot project to offer services to consumers, businesses, and government users within five years [1] Group 3: Competitive Landscape - SpaceX's Starlink has already received approval from the Vietnamese government to implement a similar satellite internet plan during the same timeframe [1] - The first batch of 27 Kuiper satellites was launched from Florida in April, marking the official deployment phase of Amazon's long-prepared space internet network [1]

Group 1 - The satellite internet sector experienced a decline of 1.01% [1] - Aerospace Hongtu saw a significant drop of 6.34% [1] - Shaanxi Huada decreased by 6.27% [1] - Shanghai Hanxun fell by 3.38% [1] - Companies such as Shengbang Security, Wantong Development, and China Satellite Communications also reported declines exceeding 3% [1]

盘面上，消费电子概念逆势上涨，东尼电子、领益智造、奋达科技、歌尔股份等涨停；人工智能概念持 续活跃，拓维信息、园林股份、广联达、腾龙股份、特发信息、华胜天成、合力泰等涨停；卫星互联网 概念局部走高，中国卫星、航天机电、武汉凡谷等涨停；机器人概念震荡拉升，中马传动、三晖电气、 长源东谷等涨停；下跌方面，稀土永磁、军工等板块跌幅居前。 8月26日，A股三大指数涨跌不一，截至收盘，沪指报3868.38点，跌0.39%；深证成指报12473.17点，涨 0.26%；创业板指报2742.13点，跌0.76%。总体来看，个股涨多跌少，上涨个股超2800只。沪深两市全 天成交额2.68万亿元，较上个交易日缩量4600亿元。 ...

Industry Overview - The Ministry of Industry and Information Technology is set to issue satellite internet licenses to three major telecom operators, which will likely accelerate the launch of satellite networks and ground facilities, presenting investment opportunities in satellite manufacturing and related companies [2] - Shanghai has announced adjustments to its real estate purchase restrictions, including lifting limits for single individuals and equalizing loan rates for first and second homes, which may boost confidence in the real estate sector and consumer spending, particularly in the liquor industry [3] - The Chinese government aims to increase the self-sufficiency rate of semiconductors for data centers to 70% by 2027, with plans for Beijing to reach 100%, indicating a growing market for domestic AI servers and computing chips [3] Advanced Manufacturing - Desay Battery reported a revenue of 9.762 billion yuan for the first half of the year, a year-on-year increase of 9.32%, while net profit decreased by 9.36% to 98 million yuan. The company is undergoing a strategic transformation, with traditional consumer electronics battery business performing well, but significant losses in its energy storage segment [6] - Jiangsu province has clarified the "discharge pricing mechanism" for vehicle-grid interaction, allowing electric vehicles to act as distributed energy storage units, which could incentivize the operation of energy storage fleets and charging stations [7] Consumer Sector - Maiqiuer's total revenue for the first half of 2025 was 294 million yuan, a decrease of 4.49%, but net profit turned positive at 1.5466 million yuan, a significant turnaround after three years of losses. The company's gross margin improved to 25.32% [9] - Guibao Pet reported a revenue of 3.221 billion yuan, a year-on-year increase of 32.72%, with net profit rising by 22.55% to 378 million yuan. The company saw strong growth in its core pet food segment, particularly in staple food, while online sales channels have become a significant growth driver [10]

Group 1 - The first and largest satellite ETF in the market (159206) has gained significant attention, with a strong performance in the satellite sector on August 26, showing an increase of over 1.42% [1] - The satellite ETF (159206) has a fund size of 286 million yuan as of August 25, 2025, and tracks the National Index for Commercial Satellite Communication Industry [5] - The ETF focuses on commercial aerospace and satellite communication, with a weight of 64% in satellite manufacturing [5] Group 2 - The satellite internet sector is expected to have far greater potential than traditional ground networks, providing communication support for remote areas and disaster response, and integrating with IoT and low-altitude economy technologies [4] - A senior technical expert indicated that the issuance of satellite internet licenses marks a significant step towards commercial operations in China's satellite internet field [3] - The commercial aerospace industry in China is entering a peak launch period, with a successful launch of a group of 10 low-orbit satellites on August 26, 2025 [5]

Core Insights - The report highlights the strong performance of the domestic financial market, with significant increases in major indices and trading volumes, indicating a bullish sentiment among investors [3][8][9]. Domestic Financial Market - The Shanghai Composite Index closed at 3883.56, up by 1.51%, while the Shenzhen Component Index rose by 2.26% to 12441.07 [3]. - The trading volume in the Shanghai and Shenzhen markets exceeded 31.4 billion, marking a substantial increase of 594.4 billion compared to the previous trading day [8]. Macro News Summary - Shanghai has optimized and adjusted real estate policies, including reducing housing purchase restrictions and improving housing credit policies [5]. - The People's Bank of China and other departments issued a notice to support high-quality development in forestry [5]. - The central government has released opinions on promoting green and low-carbon transitions and strengthening the national carbon market [5]. Industry Updates - Some companies have begun small-scale production of key components for humanoid robots, with related stocks including Hechuan Technology and Lide Harmony [6]. - The "anti-involution" trend is leading to performance improvements among photovoltaic component manufacturers, with related stocks such as Aisheng Co. and Hongyuan Green Energy [6]. - The countdown for satellite internet license issuance is underway, marking the first step towards commercial operations in satellite internet, with related stocks including Hualichuantong and China Satellite [6]. Company Focus - Ganfeng Lithium is expanding its presence in the sulfide solid-state battery materials sector, focusing on both lithium sulfide and sulfide electrolytes [7]. - Siling Co. reported a revenue of 391 million for the first half of 2025, a year-on-year increase of 8.75%, with a net profit of 99 million, up by 4.95% [7]. - Lanke Technology is a leading supplier of PCIe Retimer chips and is actively developing PCIe Switch chips [7]. - Laimu Co. is currently supplying precision electronic connectors and wiring harnesses to Zhiyuan Robotics, in the small batch supply or sample testing phase [7]. Market Review and Outlook - The market showed strong performance on August 23, with significant gains across various sectors, including non-ferrous metals, communications, and real estate [8]. - The report suggests maintaining a bullish stance, recommending patience in holding broad-based ETFs and sector-specific ETFs, while advising against chasing stocks that have seen excessive price increases [9].

【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 格隆汇8月26日｜A股开盘，沪指低开0.31%，深证成指低开0.34%，创业板指低开0.57%。盘面上，卫星 导航板块盘初活跃，开普云2连板，陕西华达20cm涨停，消息称相关部门近期将会发放卫星互联网牌 照；电力股普涨，湖南发展(000722)涨超5%，长源电力(000966)涨超4%；半导体板块调整，盛科通信跌 近8%，寒武纪、芯原股份跌超5%；白酒股普遍低开，酒鬼酒(000799)、古井贡酒(000596)跌超2%。(格 隆汇) (责任编辑：宋政 HN002) ...

A股开盘，沪指低开0.31%，深证成指低开0.34%，创业板指低开0.57%。盘面上，卫星导航板块盘初活 跃，开普云2连板，陕西华达20cm涨停，消息称相关部门近期将会发放卫星互联网牌照；电力股普涨， 湖南发展涨超5%，长源电力涨超4%；半导体板块调整，盛科通信跌近8%，寒武纪、芯原股份跌超 5%；白酒股普遍低开，酒鬼酒、古井贡酒跌超2%。(格隆汇) ...