Group 1 - The market is currently stable despite fluctuations in precious metals, indicating that core players have not yet taken significant action [1] - The 60-day moving average is crucial, currently at 3780 points, expected to reach 3800 points in about three trading days, aligning with the upcoming important meetings and the 15th Five-Year Plan [1] - There is an opportunity in the dip of copper and aluminum prices, suggesting that every pullback in non-ferrous metals should be viewed as a potential buying opportunity [1] Group 2 - Emerging technologies such as satellite internet, aerospace computing, and solid-state batteries are seen as having significant potential, although the market has not yet fully recognized these opportunities [1] - Patience is advised as the market conditions evolve, with a belief that certainty will lead to increased enthusiasm among market participants [1]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the potential of space-based computing, highlighting the launch of the "Three-Body Computing Constellation" which includes 12 satellites capable of in-orbit data processing, thus overcoming traditional data transmission limitations [4][5] - The satellites are equipped with advanced computing capabilities, achieving a maximum single-satellite computing power of 744 TOPS and a total constellation computing power of 5 POPS, with plans for over 50 satellites by 2025 [5] - The report suggests that the integration of AI in space will significantly enhance data processing efficiency and open new avenues for applications in astronomy and other fields [4][5] Summary by Sections Industry Overview - The report discusses the ongoing investment wave in AI computing, particularly in the context of space applications, driven by advancements in satellite technology [3] Technological Advancements - The "Three-Body Computing Constellation" aims to create a comprehensive space-based intelligent computing infrastructure, with a target total computing power of 1 EOPS, which is expected to surpass most ground-based data centers [5] Investment Opportunities - The report recommends investment opportunities in space computing, identifying key beneficiaries such as Putian Technology, China Science and Technology Star, and Aerospace Hongtu [6]