A股今日集体调整，截至收盘，沪指跌0.09%，深成指跌0.85%，创业板指跌0.91%，北证50指数跌 1.45%，沪深京三市成交额32806亿元，较上日放量1625亿元，三市超3700只个股飘绿。 板块题材上， 黄金、有色金属、动物疫苗、保险、油气开采及服务、化工、猪肉板块涨幅居前；商业航天、大飞机、 军工装备、光刻机、半导体、机器人、量子科技、AI手机概念股跌幅居前。 ETF方面，国际金价站上5100美元/盎司，黄金、有色资源股全线爆发，华安基金黄金股票ETF、平 安基金黄金股票ETF基金、黄金股ETF工银、国泰基金黄金股票ETF均涨超8%。有色板块全线上扬，有 色矿业ETF招商、国泰基金矿业ETF分别涨6.31%和6.23%。油气股表现强势，能源ETF广发涨4.39%。 商业航天板块全线回落，卫星ETF、卫星产业ETF和卫星ETF广发分别跌8.16%、7.97%和7.91%。 半导体设备板块走低，半导体设备ETF跌4%。 （责任编辑：贺翀 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅 ...

A股三大指数早盘涨跌不一，截至午盘，沪指涨0.12%，深成指跌0.74%，创业板指跌0.86%，北证 50指数跌0.97%，沪深京三市半日成交额22631亿元，较上日放量3495亿元。全市场超3700只个股下 跌。 板块题材上，黄金、有色金属、禽流感、石油天然气、保险、化工、证券、港口航运板块涨幅居 前；商业航天、军工装备、游戏、光刻机、半导体、人形机器人、AI手机概念股跌幅居前。 ETF方面，国际金价首次站上5000美元/盎司，黄金、有色资源股全线爆发，平安基金黄金股票ETF 基金、黄金股ETF工银、国泰基金黄金股票ETF分别涨7.34%、7.33%、6.95%。油气股表现强势，油气 ETF华泰柏瑞涨6%。 商业航天板块全线回落，卫星ETF、卫星产业ETF和卫星ETF广发分别跌6.85%、6.77%和6.6%。半 导体设备板块走低，半导体设备ETF易方达跌4%。 （责任编辑：刘畅 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@s ...

截至1月23日，卫星ETF广发今年以来的涨幅达26.85%，位居全市场ETF涨幅第六位。卫星 ETF(563230)、卫星ETF易方达、卫星产业ETF、卫星ETF(159206)年初至今涨幅也均超过26%。 此外，通用航空ETF(563320)、通用航空ETF南方、通用航空ETF基金、航空航天ETF(563380)、通用航 空ETF华夏等航空航天主题ETF年初至今涨逾15%，表现也很亮眼。 从资金流向来看，尽管年初以来，资金整体呈现大幅流出态势，不过仍有不少主题型ETF显著吸金。其 中，卫星ETF(159206)年初以来资金净流入额高达76.97亿元，卫星ETF(563230)资金净流入额超过30亿 元。 □本报记者王宇露 2026年伊始，科技成长主线延续火热行情，商业航天迎来"开门红"，板块热度居高不下，带动相关主题 ETF产品位居全市场ETF涨幅前列，部分产品获得资金大举加码。机构指出，商业航天正处于从"国家战 略方向"迈向"实际商业落地"的关键转折期，技术硬实力的突破和政策的持续落地形成合力，为板块按 下"加速键"。基金经理认为，商业航天是一个充满潜力的新兴产业，普通投资者可关注相关指数产品， 一键布局 ...

Market Performance - The A-share market experienced a collective decline, with the Shanghai Composite Index down 0.01%, the Shenzhen Component Index down 0.97%, the ChiNext Index down 1.79%, and the Beijing Stock Exchange 50 Index down 2% [1] - The total trading volume across the three markets reached 28,041 billion yuan, an increase of 720 billion yuan compared to the previous day, with over 3,100 stocks in the three markets showing losses [1] Sector Performance - The top-performing sectors included epoxy propylene, precious metals, glyphosate, cultivated diamonds, real estate, construction materials, banking, and airport shipping [1] - Conversely, the sectors that saw the largest declines were commercial aerospace, military equipment, CPO, copper cable high-speed connections, and photovoltaic equipment [1] ETF Performance - Domestic demand sectors saw a broad increase, with the real estate industry chain leading the gains; notable ETFs included: - Fuguo Fund Construction Materials ETF up 3.96% - Guotai Fund Construction Materials ETF up 3.88% - E Fund Construction Materials ETF up 3.39% - Huabao Fund Real Estate ETF up 3.22% - Yinhua Fund Real Estate ETF up 2.87% [1] - Gold prices reached a new historical high, with Ping An Fund Gold Stock ETF rising by 3.24% [1] - Hong Kong consumer stocks also rose, with the Huitianfu Fund Hong Kong Stock Connect Consumer 50 ETF increasing by 2.8% [1] Declining ETFs - The commercial aerospace sector led the declines, with satellite ETFs such as Satellite ETF, Satellite ETF Penghua, and Satellite ETF Guangfa falling by 4.69%, 4.63%, and 4.58% respectively [1] - The photovoltaic sector experienced a pullback, with the Kexin New Energy ETF down 3.94% [1] - The CPO sector also declined, with the communication equipment ETF down 3.76% [1]

Group 1 - Satellite concept stocks rebounded in early trading, with Zhenlei Technology rising over 7%, Zhongke Xingtu up over 5%, and Siwei Tuxin increasing over 2% [1] - Several satellite-related ETFs rose over 2% due to market influence [1] Group 2 - Specific ETF performance includes: - E Fund Satellite ETF (code: 563530) at 1.703, up 0.047 (2.84%) - Satellite Industry ETF (code: 159218) at 2.080, up 0.055 (2.72%) - GF Satellite ETF (code: 512630) at 1.713, up 0.036 (2.15%) - P Star ETF (code: 563230) at 1.710, up 0.030 (1.79%) - Penghua Satellite ETF (code: 563790) at 1.280, up 0.019 (1.51%) [2] Group 3 - Analysts indicate that China is at a similar stage to SpaceX from 2018 to 2020, entering a period of intensive satellite launches with G60 Qianfan and GW National Grid [2] - Satellite manufacturing is transitioning from laboratory customization to automotive assembly line production, with suppliers providing general-purpose power, communication, and attitude control systems expected to realize performance first [2]

Market Overview - The Shanghai Composite Index fell by 0.6% and the ChiNext Index dropped by 1.02% during the midday session [1] - The total market turnover was 1.8952 trillion yuan, a decrease of 350.6 billion yuan compared to the previous day [1] Sector Performance - AI applications, commercial aerospace, stablecoins, CRO, medical services, and intelligent driving concept stocks all experienced declines, with retail and brokerage sectors leading the losses [1] - In contrast, the energy metals and chemical sectors showed resilience and performed well [1] ETF Performance - The non-ferrous metals sector continued its strong performance, with Southern Fund's non-ferrous metals ETF, GF Fund's rare metals ETF, and non-ferrous mining ETF rising by 2.75%, 2.45%, and 2.4% respectively [1] - The lithium battery sector also saw gains, with ICBC Credit Suisse Fund's lithium battery ETF and GF Fund's battery ETF increasing by 2.42% and 2.3% respectively [1] Declines in Specific Sectors - The commercial aerospace sector experienced a widespread pullback, with satellite industry ETFs and satellite ETFs from GF falling by 9% [1] - The military industry sector declined, with high-end equipment ETFs and military leader ETFs dropping by 5% [1] - The AI applications sector also faced a downturn, with media ETFs decreasing by 5% [1]

Group 1 - The successful launch of the Long March 8A rocket on January 13, 2023, marks a significant achievement in China's commercial space endeavors, with 18 low-orbit satellite internet satellites deployed into their designated orbits [1] - The Long March 8A rocket's testing process has been streamlined to 18 days, with future goals set for a "7 days launch, 7 days recovery" cycle [1] - The Sichuan Province's "14th Five-Year" basic surveying and mapping plan aims to enhance the Beidou satellite navigation system's service capabilities and coverage [1] Group 2 - China has submitted plans for multiple satellite constellations to the International Telecommunication Union, totaling 203,000 satellites, indicating an accelerated strategic layout in the low-orbit satellite sector [2] - The year 2026 is projected to be a pivotal year for China's commercial space launches, with an expected increase in launch frequency to over 100 times [2] - Breakthroughs in rocket recovery technology are anticipated to reduce launch costs by 70% to 90%, facilitating a shift towards a more routine satellite deployment model [2] Group 3 - As of January 14, 2026, the CSI Satellite Industry Index has risen by 4.23%, with the Guangfa Satellite ETF increasing by 4.33%, reflecting strong market performance [3] - The Guangfa Satellite ETF has reached a new high of 2.045 billion yuan in scale, with a total of 1.109 billion shares, indicating robust investor interest [3] - The CSI Satellite Industry Index focuses on the upstream manufacturing segment of the satellite industry, with over 25% weight in aerospace equipment, positioning it to benefit from industry acceleration [4] Group 4 - The top three constituent stocks of the CSI Satellite Industry Index account for nearly 30% of the index, indicating a concentrated investment in leading companies [4] - Higher consensus growth expectations for the index suggest a greater potential for explosive returns as the industry matures [4] - Continuous advancements in high-capacity rockets are expected to alleviate operational bottlenecks, further enhancing the certainty of industry growth [4]

Core Insights - The commercial aerospace sector has become a focal point in the capital market at the beginning of the year, with satellite ETFs experiencing significant price increases [1] - Over the past five trading days, satellite ETFs have seen a cumulative increase of 30%, with some products rising nearly 80% over the last twenty trading days [1] - The market is currently focused on existing stocks and funds related to aerospace and satellites, as dedicated index products have not yet been tailored for this emerging concept [1] Fund Performance - As of January 9, five satellite ETFs have led the market with an annual increase of 22%, while seven related funds have increased by over 15% [3] - The weekly trading volume for the satellite ETF from Yongying Fund exceeded 11.2 billion yuan, indicating strong investor participation [3] - The performance of individual stocks such as Zhenlei Technology, Aerospace Huanyu, and Aerospace Development has seen increases exceeding 200% [2] Strategic Developments - A recent announcement regarding China's application for frequency resources for over 200,000 satellites by December 2025 has further fueled market enthusiasm [3] - The year 2026 is anticipated to be a pivotal year for China's commercial aerospace sector, supported by national policies and strategic plans [3] - The establishment of the Commercial Aerospace Department by the National Space Administration in late 2025 and the inclusion of commercial aerospace in the "14th Five-Year Plan" highlight the sector's importance [3] Market Valuation - As of January 12, the price-to-earnings (PE) ratio of the CSI Satellite Industry Index has reached approximately 420 times, significantly higher than the peak valuations seen in previous market highs [4]

Group 1: ETF Performance - On January 12, several ETFs related to AI, satellites, and media sectors saw significant gains, with the Morgan Innovation and Entrepreneurship AI ETF rising over 16% [1][2] - The Satellite ETF (563230) and Aviation ETF (159392) hit the daily limit, while the Fortune Software ETF (159107) increased by 12.71%, reaching a new high since its listing [2] - The Media ETF (512980) surged by 10.03%, with a year-to-date increase exceeding 28%, making it one of the top performers among all ETFs [3] Group 2: Fund Flows and Trading Activity - On January 9, several broad-based ETFs experienced significant net inflows, particularly two Satellite ETFs and a Semiconductor Equipment ETF [8] - Six ETFs had trading volumes exceeding 10 billion yuan on January 12, indicating high trading activity, with the Short-term Bond ETF and Hong Kong Securities ETF leading the way [6][7] - The Satellite ETF (563230) has seen continuous net buying for ten consecutive trading days, with its latest scale exceeding 1.5 billion yuan and a year-to-date increase of over 34% [2] Group 3: Market Catalysts and Trends - The market's recent rise is supported by liquidity factors and themes from industries such as semiconductors, robotics, and commercial aerospace, with a positive outlook for the first quarter [10] - The satellite sector is highlighted for its investment value due to supportive policies, expanding demand scenarios, and technological advancements that reduce costs and improve efficiency [11]

Core Viewpoint - Satellite concept stocks have shown significant strength, with notable increases in share prices for companies such as Guobo Electronics, which rose over 16%, and Zhongke Star Map, which increased over 12%. China Satellite reached its daily limit up. This trend has positively impacted satellite-related ETFs, which rose over 6% [1]. Group 1: Stock Performance - Guobo Electronics saw a price increase of over 16% [1] - Zhongke Star Map experienced a rise of over 12% [1] - China Satellite hit the daily limit up [1] Group 2: ETF Performance - Satellite ETF Penghua increased by 6.54%, reaching a price of 1.417 [2] - Satellite ETF E Fund rose by 6.42%, with a price of 1.874 [2] - Satellite ETF GF gained 6.22%, reaching a price of 1.879 [2] - Satellite Industry ETF increased by 6.12%, with a price of 2.290 [2] - P Star ETF rose by 6.03%, reaching a price of 1.880 [2] Group 3: Industry Insights - Analysts suggest that China is at a similar stage to SpaceX during 2018-2020, indicating a pre-networking phase [1] - The G60 Qianfan and GW National Grid are entering a period of intensive launches, signaling a shift in satellite manufacturing from custom lab designs to assembly line production [1] - Suppliers capable of providing standardized power, communication, and attitude control systems are expected to realize performance gains first [1]