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Core Viewpoint - The satellite internet industry is experiencing rapid growth, with Zhenyou Technology (688418.SH) reporting a revenue of 350 million yuan in the first half of 2025, driven by advancements in satellite communication technology and participation in national satellite internet infrastructure development [1][2]. Industry Development - The commercial space industry is projected to exceed 2.8 trillion yuan by 2025, with accelerated satellite internet deployment and a full industry chain being established [1][2]. - Recent successful launches of low Earth orbit satellites indicate a significant acceleration in China's satellite internet construction [1]. Policy Support - Guangdong Province has introduced policies to promote high-quality development in commercial space, including subsidies and tax incentives for satellite internet applications in various sectors [2]. - Analysts expect major satellite internet projects to enter an accelerated launch phase between 2025 and 2026, creating new development opportunities in the industry [2]. Company Performance - In the first half of 2025, Zhenyou Technology achieved domestic revenue of 202.08 million yuan and international revenue of 138.75 million yuan, indicating a strong global strategy [3]. - The company has become a key partner in core network business for major satellite groups and has secured multiple projects, including the exclusive supply of core network technology for Tian Tong One [3][4]. Technological Advancements - Zhenyou Technology is actively involved in the development of satellite communication technologies, including direct satellite connections for mobile phones and vehicles, contributing to the industry's growth [2][3]. - The company has also won contracts for high-throughput satellite ground core network systems, establishing a foundation for future 6G integration [4]. Market Outlook - The satellite internet market in China is expected to exceed 45 billion yuan by 2025, with Zhenyou Technology positioned to capitalize on industry growth through strategic planning and technological breakthroughs [4].