Tianfeng Securities Research Report stated that on June 14th, China's low-orbit broadband satellite Internet technology walked out of the country for the first time, successfully carried out communication network test verification in Thailand, and demonstrated field applications. We believe that this verification work has achieved the "going out" of China's low-orbit satellite Internet, proving the reliability and feasibility of China's low-orbit satellite Internet technology construction and providing valuable experience for the landing of China's satellite Internet technology. On June 6th, China's first liquid universal launch position, the No. 2 launch position of the Hainan Commercial Aerospace Launch Center, was completed. According to the annual launch plan, the position has now started the full-system integration test for the first launch vehicle, laying a foundation for the first launch mission in the second half of the year. We believe that China's commercial aerospace construction is expected to further accelerate on the basis of the current situation, and further realize low-cost and high-integration commercial aerospace process.