Market Trends - A new upturn in the defense industry is underway, with the military trade expectations continuously enhancing due to events like the India-Pakistan air battle and military parades[2] - The defense industry index increased by 58.5% from the beginning of 2025 to its peak on January 12, 2026[18] - The global geopolitical situation is tense, leading to an unprecedented increase in military spending worldwide[3] Commercial Aerospace Development - The launch of multiple new medium and large rockets is expected to accelerate in 2026, breaking the bottleneck in launch capacity for commercial aerospace[4] - The Taiyuan Satellite Launch Center will play a crucial role in the high-frequency deployment of satellite internet[4] Investment Recommendations - Recommended sectors include the missile weapon industry chain, new aviation equipment industry chain, unmanned equipment industry chain, and commercial aerospace industry chain[4] - Key companies to focus on include: - Beifang Navigation (600435.SH) - Buy-A[7] - AVIC Shenyang Aircraft (600760.SH) - Buy-A[7] - AVIC High-Tech (600862.SH) - Hold-A[7] - Inner Mongolia First Machinery Group (600967.SH) - Hold-A[7] - Aerospace Electric (002025.SZ) - Hold-A[7] - Guobo Electronics (688375.SH) - Hold-A[7] Risks - Potential risks include delays in domestic military equipment deployment, overseas orders falling short of expectations, and setbacks in rocket development and satellite constellation construction[10]

Core Viewpoint - The company, Aerospace Electric (002025.SZ), is currently a supplier for Blue Arrow Aerospace, providing small batch deliveries but has not signed any supporting orders exceeding 500 million yuan [1] Group 1 - The company is identified as a supplier for Blue Arrow Aerospace [1] - Current supply status involves small batch deliveries [1] - No contracts exceeding 500 million yuan have been signed with Blue Arrow Aerospace [1]

Core Viewpoint - The company, Aerospace Electric (002025.SZ), is currently a supplier for Blue Arrow Aerospace, providing small batch deliveries but has not signed any supporting orders exceeding 500 million yuan [1] Group 1 - The company is identified as a supplier for Blue Arrow Aerospace [1] - Current supply status involves small batch deliveries [1] - No contracts exceeding 500 million yuan have been signed with Blue Arrow Aerospace [1]

Group 1 - The company, Aerospace Electric (002025.SZ), has products that support the Long March series of rockets [1]

Core Viewpoint - The company confirmed that it does not have a direct supply relationship with SpaceX, emphasizing its role as an electronic component supplier and its commitment to lawful business activities [1] Group 1 - The company and its subsidiaries do not have a direct supply relationship with SpaceX [1] - The company will conduct market business activities in compliance with laws and regulations [1] - The company does not rule out engaging in normal business activities with related or potential customers [1]

Core Viewpoint - The company confirmed that it is a supplier for China Star Network and clarified that it has not signed a batch order worth 310 million yuan for 2025, while its production and operations remain stable [1] Group 1 - The company is identified as a supplier for China Star Network [1] - The company has not signed a 310 million yuan batch order for 2025 [1] - The company's production and operations are reported to be normal, with stable orders and output [1]

Group 1 - The company is a supplier for China Star Network [1] - In 2025, the company has not signed a bulk order worth 310 million yuan with the mentioned enterprise [1] - The company's production and operations are normal, with stable orders and output [1]

Group 1 - The company, Aerospace Electric (002025.SZ), clarified that it does not have a direct supply relationship with SpaceX [1] - As an electronic component supplier, the company will conduct market business activities in compliance with laws and regulations [1] - The company does not rule out engaging in normal business activities with related or potential customers [1]

Core Viewpoint - The company, Aerospace Electric (002025.SZ), clarified that it does not have a direct supply relationship with SpaceX, despite being an electronic component supplier [1] Group 1 - The company confirmed its status as an electronic component supplier and stated it will conduct market business activities in compliance with laws and regulations [1] - The company does not rule out the possibility of engaging in normal business activities with related or potential customers [1]

Group 1 - The company Aerospace Electric (002025.SZ) confirmed that its hollow cup motor products are currently not compatible with the servos of the Zhuque-3 and Tianlong-3 reusable rockets [1]