Zhongtong Finance learned from the app that West Securities released research report saying that China attaches great importance to the development of satellite communication technology and actively lays out. State-owned enterprises will lead the launch of about 0.026 million satellites. The upstream of the satellite communication industry chain is satellite manufacturing and satellite launch, the middle reaches are ground equipment manufacturing, satellite operation and service, and the downstream is satellite communication application. In terms of the scale of the industry, ground equipment and satellite operation and service are the two most important parts of the four links in the satellite communication industry chain. In terms of industrial bottlenecks, satellite manufacturing and satellite launch are the main contradictions of current mass launches, and the industry has immense investment value.

West Securities pointed out that commercial aerospace refers to market-oriented space activities with a commercial profit model, among which satellite communication technology has been widely observed because it can be used as a carrier of space-based data transmission.

China attaches great importance to the development of satellite communication technology. The development of the satellite communication industry has been written into the central "14th Five-Year Plan" development plan, which specifically proposes to "accelerate the layout of satellite communication": improve the coordinated layout of high, medium, and low-orbit satellite networks, realize the integration of 5G ground cellular network communication and satellite communication, and initially build a satellite information network covering the world.

State-owned enterprises will lead the launch of about 0.026 million satellites. China Satellite Network Group Co., Ltd. (China Star Network) established in 2021 will create a network composed of 0.013 million satellites. At the same time, according to the report of Nikkei Asia, China's state-owned enterprises will lead the launch of about 0.026 million satellites to build a low-orbit satellite communication network covering the world.

The scarcity of frequency resources and the intensification of space strategic competition highlight the urgency of increasing investment in satellite communication. According to the Wireless Rules published by the International Telecommunication Union (ITU), the total capacity of near-earth satellite orbits is estimated at 0.072 million satellites. It can be foreseen that more countries will participate in this space "land grabbing movement" as the orbital resources become increasingly scarce.

Satellite communication and multi-field applications are new productive forces and new growth points of new industries. Low-orbit satellite communication technology not only has applications in special fields, but also in other fields may bring new industrial growth. Satellite communication + Belt and Road Initiative: new infrastructure serves the country's major strategies, and overseas markets are expected to become new growth points for enterprises. Satellite communication + mobile phone innovation: technology integration empowers product high-end. Satellite communication + disaster prevention and reduction: high technology safeguards people's lives and property safety. Satellite communication + autonomous driving: high-precision integration of land and sky accelerates the implementation of cutting-edge technology. Satellite communication + Internet of Things: enhances the industry's digital and intelligent level.

Risk warning: the construction of low-orbit satellite carrying capacity is not as expected, satellite communication technology research and development is not as expected, downstream application development is not as expected.