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Chen Jiannan, a reporter from the Securities Times.
China's first commercial infrared meteorological satellite with high functional density was successfully launched. At 12:15 on May 21, Beijing time, China's first commercial infrared meteorological satellite, Nanxin Big Star, named by ring science and technology, was successfully launched from the Jiuquan Satellite launch Center in Gansu Province, and the satellite successfully entered its scheduled orbit. embark on a magnificent journey to explore the universe.
This year, commercial aerospace was included in the government work report for the first time, bringing new opportunities for the development of the commercial aerospace field. Institutions generally believe that the long-term market space for commercial aerospace exceeds one trillion yuan. For A-share listed companies, this will be a huge blue ocean.
The trillion yuan market is beckoning.
Commercial aerospace refers to the space activities operated by the business model, which aims to carry out the research and development, manufacture, launch and application of space technologies and services through the commercial market. According to the Blue Book on China's Space Science and Technology activities (2023) released not long ago, China carried out a total of 67 space launches in 2023, of which 26 were commercial launches, with a success rate of 96 percent. A total of 120 commercial satellites were developed and launched, accounting for 54% of the total number of satellites developed and launched in the whole year.
Local governments are also making efforts. In November 2023, the Shanghai Municipal people's Government formally issued the Shanghai Action Plan for promoting the Development of Commercial Aerospace and Building the Highland of the Space Information Industry (2023-2025). On May 8 this year, the official website of the people's Government of Haidian District of Beijing issued a notice on the issuance of the Action Plan for the Construction of Commercial Aerospace Innovation Highlands in Haidian District (2024-2028). On May 9, Hubei Province launched the "Hubei Province Breakthrough Development Commercial Aerospace Action Plan (2024-2028)".
Citic Securities said that China's aerospace industry has entered the "fast track" of development, and the construction of new constellations such as satellite Internet and the trend of large capacity and low cost are leading commercial aerospace to open a new era. The new track with a trillion yuan market scale is about to set sail, bringing huge development opportunities for the related industrial chain.
Minsheng Securities believes that the progress on the side of the satellite Internet industry in 2024 has strong certainty, and the current location and layout of the plate is clear after in-depth adjustment. In terms of domestic progress, it is recommended to focus on the interpretation of terminal satellite function applications, satellite bidding, network satellite launch and commercial rocket upgrade iteration; in terms of overseas progress, it is recommended to focus on the follow-up SpaceX starship test flight, mobile phone direct connection landing process and the progress of other manufacturers except SpaceX, while it is suggested to pay attention to the related progress of central and local policy catalysis, industry standard agreement formulation, commercial rocket iteration, launch site expansion application and so on.
The performance of the beneficiary companies is expected to increase greatly.
Some companies have revealed the layout of the commercial aerospace sector. Aerospace Appliances recently said on the investor interaction platform that the company actively participated in the development and supporting tasks of national major projects and key projects. At present, the company is speeding up the industrial layout of commercial aerospace (satellite, rocket, ground measurement and control, terminal applications) and other fields, cooperating with Blue Arrow Aerospace, Tianbing Technology, Oriental Space and other customers to accelerate the development of new business.
Aerospace development actively distributes the commercial aerospace sector, and the company's Aerospace Tianmu Company completed the launch mission of the first phase of the "Tianmu-1" exploration satellite (22 stars) at the beginning of 2024. Successfully constructed the international first commercial Leo satellite constellation system to realize the integrated exploration of "sea counter + atmospheric occultation".
The growth of some companies is worth looking forward to. According to data Bao of the Securities Times, among the three or more agency rating companies, Neridar, Hollavo, Shanghai Hankun and other companies unanimously forecast net profit growth of more than 140% this year. Aerospace Rainbow, Guanglian Airlines, Nortel Hi-Tech and other companies all have a net profit growth rate of more than 50%.
Commercial Aerospace concept Unit
A gratifying increase during the year
Commercial aerospace concept stocks have risen gratifyingly so far this year. Golden Shield shares led the year with gains of more than 122%. Stocks such as Zong Shen Power, Andaville and Shanggong Shenbei rose more than 55%, and Guangzhou-Harbin Communications, Guangzhou United Airlines, Aviation New Technology and other stocks rose more than 10%. The stock with the biggest decline was Mengsheng Electronics, which fell more than 49% during the year, while Cisco Rui, Aerospace Hongtu and other stocks all fell by more than 40%.
The future trend of the latest latent commercial aerospace concept stocks is worthy of attention. According to the data, there are a total of 20 commercial aerospace concept stocks with a net inflow of institutional capital exceeding 10 million yuan since May, of which Zong Shen Power, Shanggong Shenbei, Shanghai Hansun, Andaville, Philippine and other individual stocks all have a net inflow of more than 100 million yuan.
