以下文章来源于东四十条资本 ，作者陈美 东四十条资本 . 聚焦股权投资行业人物、事件、数据、研究、政策解读，提供专业视角和深度洞见 | 创投圈有趣的灵魂 最新一幕是，低空经济成为华大北斗新增长点。来自华大北斗的招股书显示，华大北斗的多频多系统SoC芯片，如HD8145系 列能支持北斗、GPS等多系统信号，具备高精度（厘米级）、低功耗、抗遮挡等特性，适配无人机、eVTOL的导航定位需 求。 将投中网设为"星标⭐"，第一时间收获最新推送 自成立以来，先后获得了产业资本、地方国资、头部VC的加持。 卫星导航追梦人的创业初心 华大北斗的诞生，源于一群卫星导航追梦人"打破国外技术垄断"的初心。 作者丨 陈美 来源丨 东四十条资本 港股再添硬核力量，来自深圳的"卫星导航"企业——华大北斗，递交招股书拟赴港IPO。 作为深耕卫星导航领域近10年的企业，华大北斗在共享单车领域，累计交付超过1500万颗导航定位芯片，为全国90%左右的 共享单车提供高精度定位服务。与此同时，覆盖消费电子、环境监测等多个领域。 招股书显示，公司脱胎于中国电子信息产业集团（CEC）旗下导航芯片业务，由中电光谷（深圳）、上海汽车集团、北京汽车 集团、 ...

格隆汇1月6日丨北斗星通(002151.SZ)公布股票交易异常波动公告，公司留意到近期市场对于商业航天 概念关注度颇高，公司主营业务为卫星导航芯片、模组、天线、数据服务，下游应用场景包括测量测 绘、智能驾驶、智慧农业、割草机器人、无人机等，商业航天仅为公司产品和服务的应用场景之一，请 投资者注意风险。 ...

1月6日，司南导航涨5.16%，截至发稿，报44.20元/股，成交1.23亿元，换手率7.48%，总市值35.56亿 元。 资料显示，上海司南导航技术股份有限公司位于上海市嘉定区马陆镇澄浏中路618号2号楼，成立日期 2012年2月28日，上市日期2023年8月16日，公司主营业务涉及高精度卫星导航专用芯片和差分定位 (RTK)技术的研究与开发,基于北斗以及其他全球卫星导航系统(GNSS),向客户提供实时定位精度为厘 米、毫米级的高精度卫星导航定位板卡/模块、数据采集设备、农机自动驾驶系统以及数据应用及系统 解决方案。主营业务收入构成为：数据采集设备42.84%，高精度GNSS板卡/模块20.70%，数据应用及系 统解决方案20.32%，农机自动驾驶系统12.13%，其他4.00%。 华商上证科创板综合指数增强A（023897）基金经理为艾定飞、海洋。 截至发稿，艾定飞累计任职时间7年44天，现任基金资产总规模10.55亿元，任职期间最佳基金回报 129.73%， 任职期间最差基金回报-19.15%。 海洋累计任职时间2年5天，现任基金资产总规模13.2亿元，任职期间最佳基金回报53.78%， 任职期间 最差 ...

转自：扬子晚报 12月19日，南京卫星应用行业协会发布"关于12月17日南京区域导航信号异常情况的技术性探讨分析"。 从技术原理来看： 1. 离线地图的核心功能是存储地理数据，仅解决"地图显示"问题，无法替代定位信号来源； 内容如下—— 各会员单位及社会各界： 2025年12月17日傍晚，南京部分区域出现导航定位异常现象，引发社会广泛关注。 为澄清公众认知误区、解读技术原理与战略价值，南京卫星应用行业协会作如下说明： 一、离线地图无法解决本次导航异常问题 本次导航失灵的核心原因是GNSS卫星信号（含北斗、GPS）受到临时干扰压制，而非网络信号中断， 因此下载离线地图并无实际意义。 2. 手机导航需依赖GNSS卫星信号（至少4颗卫星）解算位置坐标，再将位置信息匹配至地图，定位信 号与地图数据是相互独立的两大系统； 3. 本次干扰精准针对北斗、GPS民用频段，导致定位信号无法被接收机识别，即便搭载离线地图，也因 缺乏位置数据源出现定位漂移、无数据反馈等问题，无法实现有效导航。（离线地图更适用于公海荒漠 深山等有卫星定位信号、无通信网络信号的区域）。 二、北斗与GPS民用频段兼容的战略意义得到验证 本次异常中北斗与 ...

Core Viewpoint - The navigation signal anomaly in Nanjing on December 17, 2025, was caused by temporary interference with GNSS satellite signals, not by a network signal interruption, highlighting the limitations of offline maps in resolving such issues [1][2]. Technical Analysis - Offline maps only store geographic data and cannot replace the source of positioning signals, which rely on GNSS satellite signals from at least four satellites [2] - The interference specifically targeted the civilian frequency bands of Beidou and GPS, preventing the reception of positioning signals, leading to issues like position drift and lack of data feedback even with offline maps [2] - Offline maps are more suitable for areas with satellite positioning signals but without communication network signals, such as oceans or remote mountains [2] Strategic Significance of Beidou and GPS Compatibility - The simultaneous impact on both Beidou and GPS signals during the anomaly validates the strategic foresight of China's Beidou system in planning its civilian frequency bands [3] - The international satellite navigation spectrum follows a "first come, first served" rule, with GPS having occupied core L-band resources early on, leaving limited quality spectrum for Beidou [3] - The compatibility of Beidou's civilian signal (B1C band) with GPS's civilian signal (L1C band) breaks the spectrum resource blockade and creates a strategic balance, where interference with Beidou also affects GPS applications [3] Military Frequency Resilience - The signal anomaly only affected civilian GNSS frequency bands, while Beidou's military frequencies remained unaffected [4] - Beidou employs a military-civilian frequency separation design, with military frequencies being exclusive and physically isolated from civilian bands [4] - The military system incorporates advanced anti-jamming technologies, ensuring strong resilience against interference and deception, providing stable and reliable time-space services for national defense and emergency response [4] Industry Response - The Nanjing Satellite Application Industry Association will continue to monitor industry dynamics and share professional knowledge on satellite navigation technology to enhance public understanding [5] - The association aims to facilitate communication between enterprises and the government, encouraging participation from relevant companies without membership fees [5]

Core Insights - The article discusses the competitive landscape and market dynamics of the Beidou navigation industry in China, highlighting key companies, revenue figures, and market concentration levels. Group 1: Industry Competitive Landscape - The Beidou navigation industry features a tiered competition structure based on registered capital, with companies like Haige Communication, Siwei Map, and others in the first tier, having over 1 billion yuan in capital [1] - The second tier includes companies with registered capital between 500 million and 1 billion yuan, while those with less than 500 million yuan fall into the third tier [1] - Major companies such as Huace Navigation, Hezhong Shizhuang, and Tongyu Communication are projected to achieve over 500 million yuan in Beidou-related revenue by the first half of 2025, leading the industry [5][14] Group 2: Market Share and Concentration - In 2024, market shares for leading companies are relatively low, with Huace Navigation at 2.4% and others like Hezhong Shizhuang and Beidou Star Communication ranging from 0.3% to 1% [9] - The overall market concentration in the Beidou navigation industry is low, with the top three companies holding only 4.2% of the market share and nine representative companies collectively holding 6.9% [11] Group 3: Company Revenue and Business Focus - Revenue figures for the first half of 2025 indicate that Huace Navigation leads with 1.83 billion yuan, followed by Hezhong Shizhuang at 660 million yuan and Tongyu Communication at 520 million yuan [15] - The primary focus of these companies remains on domestic markets, with significant emphasis on navigation chips and systems [14][15] Group 4: Competitive Dynamics - The Beidou navigation industry is characterized by a large number of small to medium-sized enterprises, leading to intense competition and a low concentration ratio [17] - Despite existing technological barriers, the industry is in a rapid growth phase, attracting external entrants [17] - The supply chain dynamics show that upstream suppliers of essential components like chips have significant bargaining power due to high technical requirements [17]

Core Insights - The report released by the China Satellite Navigation and Positioning Association indicates that by the first half of 2025, over 98% of domestic smartphones will support BeiDou positioning, with a shipment volume of 130 million units [1] - The number of various types of BeiDou terminal devices (excluding consumer electronics) in China will exceed 33 million units by the first half of 2025, representing a year-on-year increase of over 22% [1] - The BeiDou industry application depth continues to enhance, with over 30 million terminal devices applied in 14 key industry sectors, showing a year-on-year growth of over 27% [2] Industry Development - The BeiDou industry comprehensive index reached 1579 points by the first half of 2025, reflecting a year-on-year increase of 10.34% and a growth of over 60% compared to 2020, indicating strong growth during the 14th Five-Year Plan period [2] - The transportation sector is identified as the largest professional application market for BeiDou, leading in marketization, industrialization, and internationalization levels, categorized as the first tier [2] - The report anticipates that the comprehensive index of the BeiDou industry may exceed 1700 points in the second half of 2025, driven by accelerated growth in marketization, industrialization, and internationalization indices [2]

Core Insights - The comprehensive output value of the BeiDou satellite navigation and location services industry in the Beijing-Tianjin-Hebei region is projected to exceed 90 billion yuan by 2024, accounting for approximately 20.6% of the national total [1][3]. Industry Overview - The BeiDou satellite navigation and location services industry in the Beijing-Tianjin-Hebei region has shown an upward trend from 2019 to 2024, with a significant increase in output value [1][3]. - The region's output value surpassed that of the Pearl River Delta in 2020, making it the highest in the country [3]. Key Companies - The Beijing-Tianjin-Hebei region has nurtured several representative companies in the BeiDou navigation industry, including BeiDou Star, Four-Dimensional Map, Aerospace Hongtu, and Hezhong Shizhuang, with revenues exceeding 1.5 billion yuan [7]. - Notable companies and their projected revenue for 2024 include: - Four-Dimensional Map: 3.52 billion yuan - Aerospace Hongtu: 1.82 billion yuan - BeiDou Star: 1.5 billion yuan - Aerospace Zhizhuang: 1.33 billion yuan - Leike Defense: 1.24 billion yuan - Hezhong Shizhuang: 1.2 billion yuan [8]. Industry Cluster Development - The BeiDou industry in Beijing is centered around Zhongguancun, creating a multi-tiered functional area that includes business incubation, accelerated development, and corporate headquarters [9]. - Hebei and Tianjin have established industrial parks and bases, such as the BeiDou Satellite Big Data Industrial Park and Tianjin Binhai High-tech Zone BeiDou Industrial Base, contributing to the formation of an industrial cluster [9]. Policy Initiatives - The region has implemented various policies to promote the development of the BeiDou industry, including the "Beijing-Tianjin-Hebei Collaborative Promotion of BeiDou Navigation and Location Services Industry Development Action Plan (2017-2020)" and subsequent initiatives aimed at enhancing cross-regional applications in emerging fields [10][12]. - Specific policies from Beijing, Tianjin, and Hebei focus on integrating BeiDou with technologies like 5G, IoT, and geographic information systems to foster innovation and application [12].

Core Insights - The fourth Beidou Scale Application International Summit opened in Zhuzhou, Hunan, and the "Beidou Industry Development Blue Book (2025)" was officially released [1] Group 1: Industry Development - Beidou satellite navigation and positioning technology is increasingly integrated into the daily lives of the general public, with a rich variety of products in areas such as smartphones, wearable devices, and shared mobility [1] - The Blue Book indicates that over 70% of various terminals are now equipped with Beidou technology [1] Group 2: Market Statistics - In 2024, the total domestic smartphone shipment is projected to reach 294 million units, representing a year-on-year growth of 6.5% [1] - Approximately 288 million smartphones are expected to support Beidou positioning functionality, resulting in an installation rate close to 98% [1]

Core Insights - The Fourth Beidou Scale Application International Summit opened in Zhuzhou, Hunan, showcasing 33 innovative Beidou-related products and technologies across various sectors [1][2] - The summit's theme is "Connecting the World with Beidou - Intelligent Time and Space," featuring a 50,000 square meter demonstration area with over a thousand application scenarios [1] - By the end of 2024, the scale of China's Beidou industry is projected to reach 575.8 billion RMB, with an average annual growth rate exceeding 8% during the 14th Five-Year Plan period [1] Industry Developments - The 33 new products and technologies include applications in transportation, emergency response, communication, and forestry, marking the first official release of Beidou chips, modules, terminals, and comprehensive solutions [1] - Notable innovations include the "Beidou Voice Message Technology" for emergency voice distress signals and the "Easy Measurement" high-precision Beidou products addressing industry challenges [1] - The summit attracted representatives from 24 countries and five international organizations, highlighting global interest in Beidou applications [2] Strategic Collaborations - China has reached consensus on Beidou application cooperation with multiple countries, with products being widely used in Asia and Africa, enhancing sectors such as transportation, electricity, construction, and oil exploration [1]