【博时市场点评1月12日】两市放量上涨，成交创历史新高 每日观点 今日沪深三大指数放量上涨，沪指涨超1%，深证成指、创业板指均涨超1.7%。两市成交今日突破3.6万 亿，创历史新高，资金交易情绪持续活跃。12月CPI同比上涨0.7%，环比上涨0.2%，创2024年3月以来 新高；PPI同比降幅继续收窄，环比由平转涨。价格体系逐步筑底向好，核心CPI持续稍弱说明内需复苏 仍属弱弹性，PPI-CPI剪刀差收敛至约-2.6个百分点，中游制造企业盈利压力边际缓解。当前国内基本面 处于"弱复苏+低通胀"阶段，CPI温和回升、PPI触底反弹，但内生动力仍待持续提升。政策端通过财政 金融协同、扩大公共服务、引导产业升级等多维手段托底经济。对权益市场而言，"风险偏好提升+盈 利预期边际改善" 引导市场热度提升，配置上或可关注 "科技成长为主+顺周期为辅" 的策略，同时密切 跟踪1月中下旬即将公布的社融、信贷及春节消费数据，以验证复苏成色。 消息面 根据国际电信联盟官网信息，我国在2025年12月25日至31日期间，集中提交了新增20.3万颗卫星的频率 与轨道资源申请，覆盖14个卫星星座。这是我国迄今规模最大的一次国际频轨集中 ...

快科技1月3日消息，博主"定焦数码"发文透露，我国低轨卫星通信可能在二季度开放，也就是4-6月范 围内。 届时，支持该技术的手机可以在无信号、无网络覆盖的区域，实现直连卫星上网。 需要注意的是，低轨卫星互联网通信由华为Mate X6典藏版首发搭载，目前依然是行业内唯一一款支持 三网卫星通信的大众智能手机。 华为Mate X6典藏版在2024年底发布，全球首发三网卫星通信，加入了低轨卫星互联网。 当时，余承东在发布会上透露，低轨卫星互联网系统还在测试中，预计将于2025年下半年开启众测，但 后续因为一些问题延期。 据悉，按照卫星轨道高度的不同，通信卫星可以分为低轨通卫星、中轨卫星和高轨卫星。 相比于北斗、天通等中高轨道卫星，低轨卫星由于距离地球表面更近，拥有独特优势，其卫星网络信号 传播时延低，信号的传播衰减较小，能耗控制更加优秀。 低轨卫星缩短了智能终端和卫星之间的通信距离，通信效率更高，而且在救援、科考等场景下，当地面 没有基站，或者基站损坏、通信瘫痪时，低轨卫星互联网也将成为重要补充。 "千帆星座"就是我国正在建设的低轨卫星互联网系统之一，规划到2030年底实现超过1万颗的低轨宽频 多媒体卫星组网。 将平 ...

Core Viewpoint - The company has identified leading low Earth orbit (LEO) satellite internet enterprises and is actively investing in related projects to enhance collaboration with these key players [1]. Group 1: Company Information - The company confirmed its investment in Blue Arrow Hongqing, one of the leading LEO satellite internet enterprises [1]. - The company is involved in ongoing projects with three major satellite constellations, which include State Grid (GW) with 12,992 satellites, Qianfan with 12,000 satellites, and Honghu with 10,000 satellites [1]. Group 2: Industry Context - The leading LEO satellite internet enterprises are characterized by their significant satellite constellations, which are crucial for establishing robust satellite internet networks [1]. - The company aims to deepen collaboration with these leading satellite constellations, indicating a strategic focus on partnerships within the satellite internet industry [1].

Core Viewpoint - The recent issuance of guidelines by the Ministry of Industry and Information Technology (MIIT) in China marks a significant step towards the commercialization of low Earth orbit (LEO) satellite internet, highlighting the potential for growth in the satellite communication industry [1][13]. Group 1: Industry Developments - The MIIT's guidelines encourage telecom operators to expand services based on LEO satellite internet and support companies in providing wide-area IoT connectivity in regions lacking ground network coverage [1]. - The rapid increase in satellite launches in China, with six groups of LEO satellites launched in just one month, demonstrates the country's commitment to accelerating its satellite network [1][8]. - The global number of operational satellites has surged from 2,272 in 2019 to 8,862 in 2023, reflecting a compound annual growth rate of 35.0% from 2020 to 2023, primarily driven by SpaceX's Starlink [3]. Group 2: Market Potential - The LEO satellite internet market is seen as a vast opportunity, with the potential to address the connectivity needs of approximately one-third of the global population that currently lacks internet access [9]. - The integration of LEO satellite networks with terrestrial 5G/6G networks is expected to enhance communication efficiency and create new industry ecosystems [9][14]. - The cost advantages of satellite internet are anticipated to improve significantly due to advancements in satellite manufacturing and rocket reusability technologies [10][12]. Group 3: Technical and Regulatory Challenges - The deployment of LEO satellite networks faces challenges in technology, cost, regulation, and ecosystem development, including the need for high-precision orbital control and the management of frequency interference [14][16]. - The limited availability of frequency and orbital resources necessitates international coordination to prevent conflicts and ensure compliance with various countries' regulatory frameworks [14]. - The current focus on emergency communication and broadband for remote areas indicates that consumer-level applications are still in the early stages of development [14][16]. Group 4: Future Outlook - The shift towards direct satellite connectivity for mobile devices is a key focus area, with the potential to revolutionize the mobile communication landscape as user demand for ubiquitous connectivity grows [16][17]. - As the user base for satellite internet expands, competitive pricing and service quality improvements are expected, leading to intensified competition with traditional cellular networks [17].

Core Viewpoint - The Ministry of Industry and Information Technology of China has released guidelines to optimize business access and promote the development of the satellite communication industry, indicating a significant shift towards enhanced connectivity through satellite technology [1] Group 1: Impact on Consumers - The introduction of mobile direct satellite communication will enable "communication without dead zones" for ordinary users [1] - The price of smartphones supporting satellite communication has dropped to the 3000 yuan range, with expectations of a further cost reduction of over 30% in the next two years as technology matures and production scales up [1] - Current service fees for industry-focused satellite communication packages are around several hundred yuan per month, but costs for civilian satellite communication services may decrease to 50-100 yuan per month with increased scale [1] Group 2: Impact on Aviation - The deployment of low-orbit satellite internet will standardize high-speed internet access on airplanes, potentially eliminating the need for flight mode on mobile devices [1]

Core Viewpoint - The Ministry of Industry and Information Technology has issued guidelines to optimize business access and promote the development of the satellite communication industry, aiming for significant advancements by 2030, including improved management systems, enhanced infrastructure, and the integration of satellite communication into the new development framework [1][2]. Group 1: Industry Development Goals - By 2030, the satellite communication management system and policies will be further improved, with a significant increase in the number of satellite communication users exceeding ten million [1]. - The guidelines emphasize the support for low Earth orbit (LEO) satellite internet development, aiming for high-quality growth and global broadband network coverage [1][2]. Group 2: Technological Advancements - The guidelines call for accelerated efforts in tackling key core technologies and product development in satellite communication, enhancing the supply of essential components, chips, and terminal devices [2]. - There is a focus on integrating satellite communication with 5G/6G and artificial intelligence technologies, promoting innovation in non-terrestrial networks (NTN) [2]. Group 3: Application and Service Expansion - The guidelines support the direct connection of terminal devices to satellites, encouraging telecom operators to explore the potential of high-orbit satellites like Tiantong and Beidou [1]. - Telecom operators are encouraged to expand high-speed data services based on satellite internet, enhancing voice and messaging services for ground mobile communication users [1].