According to the CITIC Securities Research Report, as of mid-December 2025, SpaceX has successfully launched 3,095 Starlink satellites into orbit, and the country is expected to develop a recyclable medium launch vehicle targeting the Falcon 9. The capacity bottleneck is about to break through an inflection point. As launch costs drop drastically, markets such as satellites, terminals, and computing power are expected to be realized at an accelerated pace, and the main investment position in commercial aerospace will soon be confirmed. As China Starnet and the G60 Thousand Sails Constellation have successively entered the batch launch stage, and the Hainan commercial space launch site and commercial launch vehicles are being put into use, the trend of high capacity and low cost is leading the beginning of a new era of commercial space. At the same time, spatial computing power is also further opening up the ceiling of the industry. A new racetrack with a trillion dollar market is about to set sail, bringing huge development opportunities to related industrial chains. From the investment side, the current sharper direction is space computing power and recyclable rockets, while the low-orbit communication satellite chain is currently the first segment with basic logic and order support.

According to the CITIC Securities Research Report, as of mid-December 2025, SpaceX has successfully launched 3,095 Starlink satellites into orbit, and the country is expected to develop a recyclable medium launch vehicle targeting the Falcon 9. The capacity bottleneck is about to break through an inflection point. As launch costs drop drastically, markets such as satellites, terminals, and computing power are expected to be realized at an accelerated pace, and the main investment position in commercial aerospace will soon be confirmed. As China Starnet and the G60 Thousand Sails Constellation have successively entered the batch launch stage, and the Hainan commercial space launch site and commercial launch vehicles are being put into use, the trend of high capacity and low cost is leading the beginning of a new era of commercial space. At the same time, spatial computing power is also further opening up the ceiling of the industry. A new racetrack with a trillion dollar market is about to set sail, bringing huge development opportunities to related industrial chains. From the investment side, the current sharper direction is space computing power and recyclable rockets, while the low-orbit communication satellite chain is currently the first segment with basic logic and order support.