How is the pace of satellite internet deployment changing?

  • West China Securities believes that, against a backdrop of continued industrial policy support, satellite internet is entering a cycle in which large-scale deployment and commercialization advance together following technology validation. Shanghai recently issued an action plan for the innovative development of the satellite internet industry covering 2027–2030.
  • Guotai Haitong Securities believes that, as technologies such as reusable rockets and low-cost commercial satellites gradually mature, the industrialization of China's commercial space sector is expected to accelerate during the Fifteenth Five-Year Plan period.

Which segments will concentrated constellation deployment boost first?

  • West China Securities expects concentrated constellation deployment in the near term to drive mass satellite production, with segments including space photovoltaics, satellite structural components, ground support and launch services likely to benefit first.
  • At the project level, Xi'an Zhongke Xiguang Aerospace Technology Group signed an agreement with a relevant laboratory at Xidian University to develop complete satellites and conduct technical validation for the Xidian Two and Xidian Three satellites, while also developing space-air-ground communications networks.

How far have the relevant companies progressed?

  • Junda Co., Ltd. has achieved a small-area conversion efficiency of 33.53% for its terrestrial perovskite tandem cells and completed validation of key technologies. However, both the terrestrial cells and flexible perovskite–crystalline silicon tandem cells adapted for space applications are currently in the laboratory research and development stage.
  • Management at Western Metal Materials said the company has built up capabilities across multiple aerospace technology pathways and is pursuing key research and development projects in four material categories: titanium, composites, rare metals and refractory metals.
  • CETC Lantian has supplied products including space solar cell arrays, space lithium-ion battery packs and power-supply control equipment to China's aerospace market. Overseas, the company said it will monitor market developments and study international demand.