Group 1 - The commercial aerospace sector is experiencing strong growth, with Zhenyou Technology (688418) seeing a 14.8% increase in early trading and a cumulative rise of 32.51% in December, reaching a market value of 7.9 billion yuan [2] - The integration of space and terrestrial networks is becoming the core form of next-generation mobile communication, driven by the acceleration of low-orbit satellite constellation deployment and satellite direct connection technology [2] - The satellite core network is identified as a key technology to address traditional satellite communication issues such as high latency and severe congestion, becoming a focal point of industry competition [2] Group 2 - Zhenyou Technology has developed a satellite core network solution suitable for space environments, leveraging its comprehensive technical reserves and engineering capabilities [3] - The traditional "transparent forwarding" satellite model faces challenges as the scale of constellations and the number of terminals increase, leading to significant latency and heavy ground load issues [3] - The satellite core network, in conjunction with inter-satellite laser links, allows for direct data flow within the satellite constellation, fundamentally solving efficiency bottlenecks caused by ground-based processing [3] Group 3 - The development of the satellite core network faces multiple technical challenges, including limited computing and storage resources on satellite platforms and the need to adapt to harsh environmental conditions [4] - Zhenyou Technology has obtained all necessary network access certifications and is one of the few companies in China that supports both ground and satellite core networks, with experience in low-orbit constellation core network construction [4] - The satellite S-UPF, designed for user data processing, has been optimized to ensure core capabilities such as data forwarding and voice communication without relying on ground networks [4] Group 4 - Zhenyou Technology has achieved key capability validation in several low-orbit satellite core network technology research and engineering experiments, leveraging experience from large-scale operations in various satellite projects [4] - The company continues to participate in the construction of ground stations and core networks for two major domestic low-orbit constellations [4]

Group 1 - The commercial aerospace sector is experiencing strong growth, with Zhenyou Technology (688418) seeing a 14.8% increase in early trading on December 15, and a cumulative increase of 32.51% in December, bringing its market value to 7.9 billion yuan [1] - The integration of space and terrestrial networks is becoming the core form of next-generation mobile communication, driven by the acceleration of low-orbit satellite constellation deployment and the implementation of satellite direct connection technology [1] - The satellite core network is a key technology to address the pain points of traditional satellite communication, such as high latency and severe congestion, and is becoming the focal point of industry competition [1] Group 2 - The development of satellite core networks faces multiple technical challenges, including limited computing and storage resources on satellite platforms, harsh environmental conditions, and dynamic changes in inter-satellite and ground links [2] - Zhenyou Technology has obtained all necessary network access certifications and is one of the few companies in China that supports both ground and satellite core networks, with experience in low-orbit satellite core network construction [2] - The satellite S-UPF, as the core of user data processing on satellites, has been optimized to ensure core capabilities such as basic data forwarding and voice communication without relying on ground core networks [2] Group 3 - Zhenyou Technology has achieved key capability verification in multiple low-orbit satellite core network technology research and engineering experiments, leveraging experience from large-scale operations in projects like Tiantong and high-throughput satellites [3] - The company is actively participating in the construction of signal stations and core networks for two major domestic low-orbit satellite constellations [3]