本次梳理将穿透近期密集的政策信号与产业动作，从火箭制造的降本技术、卫星互联网的组网节奏到太空算力的 新场景，挖掘这一轮空天产业爆发背后的核心逻辑与相关公司。 关于报告的所有内容，请于公众『市场分析报告』阅读原文 《商业航天+太空算力+3D打印，最硬核的16家公司》 市场资金正在向硬科技的"天空"板块集结，11月25日上海发布了支持长三角G60科创走廊建设的措施，明确布局 商业航天与6G产业，紧接着12月26日上交所就发布了指引，允许商业火箭企业适用科创板第五套上市标准。这 意味着未盈利的硬科技火箭公司将获得资本市场的直接输血，另外国家航天局近期已设立专门的"商业航天司"， 监管与扶持体系正式走向正规化。 卫星互联网的竞争本质上是轨道和频率资源的争夺。国际电信联盟（ITU）规定了"先申报先使用"的原则，并设 定了严格的发射时限：运营商必须在申报7年内发射首颗卫星，9年内发射10%，14年内完成100%部署，否则资 源作废。这一规则像一把悬在头顶的达摩克利斯之剑，倒逼中国必须加速组网。 目前，中国规划了多个万星级别的星座计划。除了众所周知的GW星座和G60星座（千帆星座），鸿擎科技提交 的"鸿鹄三号"星座也计划发 ...

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The report highlights that commercial aerospace and 6G are key areas for industrial layout, driven by policy and technology [3][4] - A recent policy from Shanghai supports the construction of a world-class industrial cluster focusing on commercial aerospace and 6G, emphasizing application-based research and key technology breakthroughs [12][13] - The third Commercial Aerospace Development Conference indicated that the industry has entered a new phase of scale and commercialization, with a projected market size to achieve a leap forward [13] - The establishment of a 2 billion yuan fund for commercial aerospace and a talent training program to supply 1,000 skilled workers annually over the next 3-5 years were also announced [13][4] Summary by Sections 1. Industry Perspective - The report discusses the Shanghai policy aimed at supporting the G60 Science and Technology Corridor, focusing on commercial aerospace and 6G industries [12] - It emphasizes the need for collaboration among enterprises, academic institutions, and research organizations to drive innovation and technology development [12] 2. Market Performance Review - The computer industry index increased by 2.20% this week, outperforming the Shanghai Composite Index by 0.32 percentage points [15] - Year-to-date, the computer industry index has risen by 16.89%, ranking 14th among 31 industry indices [15][16] 3. Technology Software Industry News - The report covers various sectors including computing power, low-altitude economy, automotive intelligence, cybersecurity, data elements, and artificial intelligence, highlighting significant developments in each area [23][24][25][26][27][29][30] - For instance, the computing power sector in Yangzhou has reached a scale of 34,000 P, leading the province [23] - The automotive sector is seeing advancements in intelligent driving systems, with companies like Huawei and Audi launching new technologies [26] 4. Company Dynamics - The report mentions several companies involved in stock buybacks and incentive plans, indicating active corporate governance and management strategies [32]