继数日前完成"原力-110"液氧煤油发动机半系统试车后，近日，落地无锡梁溪区的企业东方空间在山东 泰安完成了该型发动机首台整机热试车。 "原力-110"发动机在"原力-85"的基础上，经过一年的迭代改进，海平面推力从85吨提升到110吨。此次 试验验证了系统方案的正确性、发动机启动关机时序及各组件工作协调性和匹配性，开启了"原力"系列 发动机小批量生产及交付的快节奏。 "原力-110"百吨级液氧煤油发动机，由东方空间在无锡全流程研发、装配以及制造。设计目标瞄准复用 20次以上。发动机零部件无锡本土化率达65%。 公司首型火箭"引力一号"于2024年1月首飞成功，创造了全球最大固体运载火箭、中国运力最大民商运 载火箭、中国首型捆绑式民商运载火箭等多项纪录。 建设中的东方空间液体火箭发动机研制基地总用地面积约为8.3万平方米，总建筑面积约为19万平方 米，为东方空间航天动力（600343）总部，即将于9月底完工。 作为东方空间核心动力产品，"原力-110"液氧煤油发动机具备显著技术优势：海平面推力达110吨，是 当前中国商业航天领域推力最大的液体火箭发动机；发动机具备40%~110%深度变推能力，作为"引力 二号 ...

东方航天港"HOS-1"平台首次正式投入使用 济钢集团党委副书记、总经理刘仕君对上证报记者表示，依托扎实的工业制造基础，公司围绕航空航天 产业链条中的制造环节、检验检测和试验环节，生产制造火箭、卫星、飞机、无人机等航空航天产品的 零件、部件、组件、结构件等要求较高的工业产品。如今，济钢已与深蓝航天、星河动力等绝大多数商 业火箭头部企业建立合作，初步构建起覆盖"研发—生产—测试"的航天产业生态链。 位于烟台市海阳的东方航天港是我国第五处火箭发射地，也是唯一的商业航天海上发射母港。自东方航 天港建成以来，已成功保障4型固体火箭18次海上发射任务，将115颗卫星送入太空；国内首艘专业海上 发射船"东方航天港"号配备双冗余动力定位系统，可实现无人远程控制；32万平方米的标准厂房具备年 总装50发火箭的产能，成为我国最大的固体火箭总装基地……形成"天上有星，陆上有箭，海上有船， 空中有网"四位一体的商业航天产业体系。 "年内我们将形成液体火箭海上发射和系统试验保障能力，力争实现一次液体火箭海上发射，填补国内 空白。"东方航天港（山东）发展集团有限公司副总经理张华在发布会对上证报记者说。 截至目前，已有30个总投资达32 ...

Core Viewpoint - Shandong Province is emerging as a significant player in the commercial aerospace sector, leveraging its coastal advantages for maritime rocket launches, with a total of 18 successful sea launches and 115 satellites deployed to date [2][4]. Group 1: Maritime Launch Capabilities - The successful launch of the Jielong-3 Yao-7 rocket from the Yantai Haiyang Dongfang Spaceport marks a significant milestone in Shandong's maritime launch capabilities [2]. - Shandong has established three major launch sites in Haiyang, Rizhao, and Weihai, benefiting from a 3,505 km coastline that enhances flexibility and cost-effectiveness compared to land launches [2][10]. - The Dongfang Spaceport has completed 18 maritime launch missions, positioning itself as the only commercial maritime launch hub in China [4]. Group 2: Industry Ecosystem Development - Shandong is building a complete industrial ecosystem around maritime launches, satellite manufacturing, and space information applications, supported by a robust industrial base [2][4][10]. - The Dongfang Spaceport has attracted 30 aerospace projects with a total investment of 32.2 billion yuan, fostering a collaborative operational model [5]. - The province's industrial structure includes key players like Dongfang Spaceport, Jinan Steel Group, and Dongfang Space, each focusing on different aspects of the aerospace supply chain [3][9][11]. Group 3: Technological Advancements - The Jinan Satellite Assembly Base, developed by Jinan Steel Group, is set to produce 100 satellites annually, marking a significant advancement in satellite assembly capabilities in Shandong [7][8]. - Dongfang Space has achieved breakthroughs in rocket engine technology, enhancing the capabilities of its "Gravity" series rockets, which are designed for high payload capacity and reusability [9]. - The establishment of a global low-orbit satellite IoT constellation by Dongfang Space aims to provide comprehensive connectivity solutions, further solidifying Shandong's position in the aerospace sector [5][6]. Group 4: Strategic Planning and Future Outlook - The Shandong Provincial Government has outlined a long-term development plan for the aerospace industry, aiming to enhance core competitiveness by 2030 [12]. - The province is focusing on differentiated industrial layouts across cities to avoid competition and resource wastage, while also integrating with national strategies to secure more projects and policies [12][13]. - The commercial aerospace sector is recognized as a new growth engine in China's economic transformation, with increasing government support and strategic importance [11][12].

Core Insights - The China Securities Regulatory Commission has expanded the listing standards for the Sci-Tech Innovation Board to include more cutting-edge technology sectors such as artificial intelligence and commercial aerospace, allowing unprofitable companies to access capital markets [1][4] - The commercial aerospace industry in China has evolved from government-led initiatives to market-driven exploration over the past decade, establishing a complete industrial chain covering satellite manufacturing, launch services, and ground applications [1][11] Group 1: Industry Development - The commercial aerospace sector is experiencing a "space gold rush," with multiple companies accelerating their securitization efforts across the entire industry chain, including satellite development and aerospace electronics [3][4] - Key enterprises are actively announcing financing progress or initiating listing procedures, indicating a wave of securitization in this strategic emerging industry [4][5] - By 2024, the number of commercial aerospace-related companies in China exceeded 546, nearly five times that of 2015, with a significant increase in registered companies [12][18] Group 2: Financing and Market Trends - In 2025, the commercial aerospace industry is expected to see a significant transformation, with a focus on technology paths, market trends, and geographic distribution [2][10] - Notable companies like Chengdu Guoxing Aerospace have submitted applications for IPOs, aiming to become the first commercial aerospace stock on the Hong Kong Stock Exchange [5][19] - The financing landscape is vibrant, with companies like Beijing Xingji Glory completing significant funding rounds to support their operational and technological advancements [8][22] Group 3: Technological Advancements - The industry is transitioning from high-cost research projects to predictable return industries, with a clear evolution in the commercial aerospace supply chain [10][11] - Key technologies are undergoing a transformation, moving from isolated communication to integrated networks, with a focus on standardization and industrialization [17][25] - The development of satellite internet is highlighted as a "killer application" in the commercial aerospace sector, supported by advancements in satellite manufacturing and communication technologies [11][12] Group 4: Regional Development and Policy Support - Various regions in China are competing to establish themselves as hubs for commercial aerospace, with Beijing, Shanghai, and Hainan leading the way [28][31] - Local governments are actively supporting the commercial aerospace industry through policies and funding, creating a collaborative environment for innovation and growth [29][33] - The G60 Starlink project in Shanghai exemplifies regional collaboration, aiming to complete a constellation deployment by 2025 [29][31]