分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 航天油气行业领涨 A 股震荡上行 ——市场分析 相关报告 《市场分析：软件资源行业领涨 A 股小幅上 行》 2026-02-27 《市场分析：通信电子行业领涨 A 股震荡整 固》 2026-02-26 《市场分析：资源电池行业领涨 A 股震荡上 行》 2026-02-25 联系人： 李智 电话： 0371-65585629 地址： 郑州郑东新区商务外环路10号18楼 地址： 上海浦东新区世纪大道 1788 号 T1 座 22 楼 证券研究报告-市场分析 发布日期：2026 年 03 月 02 日 投资要点： ◼ A 股市场综述 周一（03 月 02 日）A 股市场低开高走、小幅震荡上行，早盘股指低 开后震荡上行，盘中沪指在 4188 点附近遭遇阻力，午后股指维持震 荡，盘中油气、贵金属、航天航空以及电子元件等行业表现较好； 电视广告、数字媒体、旅游零售以及通信服务等行业表现较弱，沪 指全天基本呈现小幅震荡上行的运行特征。创业板市场周一震荡回 落，创业板成分指数全天表现弱于主板市场。 | 1. ...

#火箭端将迎来国内外密集重磅催化时期【国金机械】 国内： 1中科宇航-力箭二号可回收-3月发射 2深蓝航天-星云一号海上回收-3月发射 3航天科技-长十二乙可回收-3月发射 4天兵科技-天龙三号（一箭36星）-三月发射 5蓝箭航天-朱雀三号可回收摇2-Q2发射 重点关注：超捷股份（蓝箭核心供应 海外：SpaceX-星舰V3-3月发射（最快3月9日） #火箭端将迎来国内外密集重磅催化时期【国金机械】 国内： 1中科宇航-力箭二号可回收-3月发射 2深蓝航天-星云一号海上回收-3月发射 3航天科技-长十二乙可回收-3月发射 4天兵科技-天龙三号（一箭36星）-三月发射 5蓝箭航天-朱雀三号可回收摇2-Q2发射 重点关注：超捷股份（蓝箭核心供应商）、三剑客（飞沃科技、航天动力、西部材料）、广联航空。 海外：SpaceX-星舰V3-3月发射（最快3月9日） ...

今日提示 ·国务院新闻办公室将于2月27日下午3时举行国务院政策例行吹风会，介绍2025年国务院部门办理全国 人大代表建议和全国政协提案工作有关情况。 ·2026银发文旅创新发展大会暨全域生态融合产业展于2月27日举办。 ·国际指数编制公司MSCI近日公布了2026年2月的指数季度调整结果，MSCI中国A股指数新纳入33只股 票，同时剔除9只股票。本次调整于2月27日收盘后生效。 ·多瑞医药发布王庆太、曹晓兵要约收购结果。本次要约收购完成后，收购人及其一致行动人共计持有 多瑞医药53.90%的股权，公司股权分布仍符合上市条件，上市地位不受影响。公司股票2月27日起复 牌。 上证精选 ·国家能源局发布通知，决定将安徽省淮南市风光热储融合系统友好型新能源电站项目等43个项目、河 北省张家口市等10个城市列为新型电力系统建设能力提升试点（第一批）。 ·国家卫生健康委、农业农村部、市场监管总局近日联合发布《食品安全国家标准食品中农药最大残留 限量》（GB 2763—2026），自2026年3月1日起实施。 ·2025年，我国民用运输机场三大主要生产指标再创历史新高，全年完成旅客吞吐量152904.6万人次、货 邮吞吐 ...

一、月球弹弓：天才构想还是科幻狂想？ "在太空部署AI数据中心，成本比地球低10倍。"马斯克的这句话，戳中了当前AI发展的最大痛点——算 力需求爆炸与地球资源有限的矛盾。传统数据中心占全球电力消耗的3%，散热成本更是天文数字，而 月球的低重力、零大气阻力、24小时太阳能，理论上是完美的"太空算力基地"。 但现实的挑战足以让任何工程师头疼：如何在月球建立电磁弹射器？要知道，地球上最先进的电磁弹射 器（如航母用）只能推动30吨物体，而马斯克需要把成百上千颗卫星加速到每秒11.2公里的逃逸速度。 更难的是卫星组装厂——月球没有工业基础，所有设备都需从地球运送，成本堪比"用黄金铺路"。奥尔 特曼的质疑并非没有道理："发射成本、维护难度、辐射防护，每个问题都是一座大山。" 不过，马斯克的"疯狂"向来有技术支撑。SpaceX的星舰已实现火箭回收，成本降低90%；星链卫星通过 规模化生产，单颗成本从100万美元压到5万美元。或许，月球计划不是"空中楼阁"，而是他用"迭代思 维"撬动太空的又一步险棋——先发射小型试验装置，再逐步扩建，就像星链从60颗卫星到如今1000万 用户的扩张路径。 当所有人还在讨论"元宇宙是不是泡沫" ...

中青报·中青网记者 尹希宁 春节复工第一天，位于北京丰台的"青创村"又热闹起来了。 这片曾经的老旧厂房如今已蝶变成充满未来感的创业社区，聚集超2.4万家企业，形成轨道交通、航天 航空两大千亿级产业集群。 对青年创业者而言，这里是不仅仅是"村"。作为北京—雄安人才科创走廊先行区的重要起点，"青创 村"正搭建起青年发展的未来之城。 在"青创村"内，记者见到了北京容积视觉科技有限公司总经理郭松杰。他介绍，公司于2019年落地"青 创村"，得益于"青创村"提供的政策、资金、场地等支持，上下游企业相互连接，业务范围也不断拓 展，如今已经发展成为国家级高新技术企业。在这片沃土上，公司的技术已经在央视春晚以及《三生三 世十里桃花》《西虹市首富》等影视作品里得到应用。 实际上，郭松杰也是"青创村"内众多青年创业者的缩影。 早在2024年12月，丰台区就与雄安新区签订了人才一体化发展合作伙伴框架协议，启动了"丰雄人才零 界湾"项目，推动两地教育、科技、人才一体发展，探索人才协同培养、产业接续创新的新路径。 2025年，丰台区创新发布"教育科技人才一体发展19条"，积极推动教育科技人才一体发展，着力构 建"四维联动"机制，推进各 ...

Group 1 - The report anticipates an increase in market liquidity post-holiday, driven by expectations of capital inflow and policy guidance from important meetings that will take place after the Spring Festival [2][10] - The overall market is expected to become more active with the return of funds and rising policy expectations, creating potential investment opportunities in related sectors [2][10] - Investors are advised to focus on liquidity trends and policy developments, adopting a rational investment approach by considering opportunities in small-cap growth stocks and sectors with clear industrial catalysts [2][10] Group 2 - The last trading day before the Spring Festival saw a decline in major indices, with the Shanghai Composite Index closing at 4082.07 points, down 1.26% [4] - The last trading week before the holiday showed a mixed performance, with the Shanghai Composite Index increasing by 0.41% and the Shenzhen Component Index rising by 1.39% [5] - Key sectors such as shipbuilding and aerospace saw gains, while sectors like photovoltaic equipment and shipping ports experienced declines [3][4] Group 3 - The military industry has shown strong performance, with significant gains in previous years, and is expected to continue attracting attention due to stable policy support and geopolitical tensions [6] - The semiconductor sector is highlighted as a long-term investment opportunity, benefiting from domestic policy support and the trend towards self-sufficiency in semiconductor production [8] - The AI theme has been active, with expectations for growth in applications and hardware, although caution is advised due to potential overvaluation and rapid technological changes [9]

Group 1: Macro Insights - The overall sentiment around the Spring Festival is mixed, with positive aspects outweighing the negative; the macro environment remains favorable for the market [3] - Key observations include a decline in new home sales and a drop in movie ticket sales during the holiday, while travel and tourism showed strong activity [3] - The economic performance is still under observation, with credit data showing mixed results and social financing needing further assessment [3] Group 2: Fixed Income Market - The bond market is expected to continue its upward trend post-Spring Festival, supported by a stable demand for bonds from banks and other institutional investors [12][15] - The liquidity environment is anticipated to remain loose, with the central bank likely to smooth out market shocks through rollovers of maturing repos [13][14] - The overall bond market is expected to stabilize due to low financing demand and a favorable trading structure [15][16] Group 3: Transportation Sector - High dividend highway companies are becoming attractive for investment, with dividend yields rising to 4-6% [17] - The growth potential in the transportation sector is driven by infrastructure expansion and investment opportunities in mature operational assets [17] - The revision of the "Highway Management Regulations" is expected to enhance long-term returns for the industry [17] Group 4: Food and Beverage Sector - Baoli Food has transitioned from single product offerings to a comprehensive empowerment model, focusing on compound seasonings and light cooking solutions [19] - The company has shown steady revenue growth, with a projected CAGR of 14.09% from 2022 to 2024, and a net profit of 1.92 billion yuan in Q1-Q3 2025 [19][20] - Investment recommendations include focusing on high-dividend and growth-oriented companies within the food and beverage sector, particularly those with strong B-end customer relationships [32][20] Group 5: Coal Industry - Global energy prices are experiencing divergence, with crude oil prices rising significantly due to geopolitical tensions and supply concerns [29][30] - The increase in oil prices is driven by factors such as military actions in the Middle East and a reduction in U.S. oil inventories [30] - Investment suggestions include focusing on high-performing coal companies and those in niche markets [30]

Core Points - NASA announced a delay in the Artemis 2 mission due to technical issues identified during a comprehensive rehearsal, with plans to return the rocket and spacecraft to the assembly building for troubleshooting and repairs [1] - The Artemis 2 mission aims to send four astronauts on a lunar orbit flight using the Space Launch System rocket and Orion spacecraft, following the successful Artemis 1 unmanned mission in November 2022 [2] Group 1 - The return of the rocket and spacecraft to the assembly building is necessary to identify the cause of the helium gas interruption affecting the rocket's transitional low-temperature propulsion stage [1] - The transportation process covers approximately 6.4 kilometers and is expected to take several hours, with the potential to retain the April launch window if preparations are expedited and issues are resolved [1] - The Artemis 2 mission was initially scheduled for February but has faced multiple delays due to technical problems encountered during rehearsals [1] Group 2 - The Artemis program was announced by the U.S. in 2019, with the Artemis 1 mission serving as a precursor to the upcoming Artemis 2 crewed lunar mission [2] - Following the completion of Artemis 2, NASA plans to advance the implementation of the Artemis 3 crewed lunar landing mission [2]

Core Viewpoint - NASA has announced a delay in the Artemis II mission due to technical issues identified during a comprehensive rehearsal, necessitating the return of the rocket and spacecraft to the assembly building for troubleshooting and repairs [1][2]. Group 1: Mission Details - The Artemis II mission aims to send four astronauts on a lunar orbit flight using the Space Launch System (SLS) rocket and Orion spacecraft [1]. - The mission was initially scheduled for February but has faced multiple delays due to technical problems encountered during rehearsals [1]. Group 2: Technical Issues - A disruption in the flow of helium to the rocket's transitional low-temperature propulsion stage was identified during the rehearsal process [1]. - NASA stated that the return of the rocket and spacecraft to the assembly building at Kennedy Space Center is a necessary step to determine the cause of the issue and implement repairs [1]. Group 3: Future Plans - The return process will cover approximately 6.4 kilometers and is expected to take several hours [1]. - If preparations are expedited and the issues are resolved quickly, there is a possibility of retaining the April launch window, although the final schedule will depend on data analysis and repair progress [1].

Core Viewpoint - The Artemis 2 manned lunar mission by NASA has been delayed due to new issues with the rocket, making a March launch window impossible [1] Group 1: Mission Details - The Artemis 2 mission is planned to last approximately 10 days, utilizing NASA's new Space Launch System rocket and Orion spacecraft to send four astronauts into lunar orbit [1] - The mission was initially set to launch in March after completing a second integrated test on February 19 [1] Group 2: Technical Issues - During the integrated test, a helium flow interruption occurred in the rocket's "interim cryogenic propulsion stage," necessitating a return to the assembly building for repairs [1] - This follows a previous issue during the first integrated test on February 2, where a liquid hydrogen leak at the core stage's propellant interface halted the countdown, leading to the abandonment of the February launch window [1] Group 3: Future Plans - Following the completion of the Artemis 2 mission, NASA plans to advance to the Artemis 3 manned lunar landing mission [1]