524 lines
39 KiB
HTML
524 lines
39 KiB
HTML
<!DOCTYPE html>
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<html lang="zh-CN" data-theme="night">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>深度研报：卫星出海</title>
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<script src="https://cdn.tailwindcss.com"></script>
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<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.1/dist/full.min.css" rel="stylesheet" type="text/css" />
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<style>
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body {
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font-family: 'Space Grotesk', sans-serif;
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background-color: #000010;
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background-image: url('https://images.unsplash.com/photo-1534796636912-3b95b3ab5986?q=80&w=2942&auto=format&fit=crop');
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background-size: cover;
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background-position: center;
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background-attachment: fixed;
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}
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.glass {
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background: rgba(12, 12, 32, 0.5);
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backdrop-filter: blur(20px);
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-webkit-backdrop-filter: blur(20px);
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border: 1px solid rgba(255, 255, 255, 0.1);
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box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.37);
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}
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.turrell-glow {
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position: fixed;
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top: 50%;
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left: 50%;
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width: 80vw;
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height: 80vh;
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max-width: 1200px;
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max-height: 1200px;
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transform: translate(-50%, -50%);
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background: radial-gradient(ellipse at center, rgba(79, 70, 229, 0.15) 0%, rgba(79, 70, 229, 0) 70%);
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z-index: -1;
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pointer-events: none;
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}
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.text-glow {
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text-shadow: 0 0 8px rgba(99, 102, 241, 0.8), 0 0 20px rgba(99, 102, 241, 0.5);
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bottom: 0;
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border-radius: 1.5rem; /* Match card border-radius */
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padding: 1px;
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background: linear-gradient(145deg, rgba(255, 255, 255, 0.2), rgba(255, 255, 255, 0.05));
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linear-gradient(#fff 0 0) content-box,
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linear-gradient(#fff 0 0);
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-webkit-mask-composite: xor;
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mask-composite: exclude;
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}
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h2 {
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font-size: 1.75rem;
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font-weight: 600;
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color: #c7d2fe;
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margin-bottom: 1.5rem;
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padding-bottom: 0.5rem;
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border-bottom: 1px solid rgba(255, 255, 255, 0.1);
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}
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h3 {
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font-size: 1.25rem;
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font-weight: 500;
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color: #a5b4fc;
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margin-top: 1.5rem;
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margin-bottom: 1rem;
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}
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</style>
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</head>
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<body class="text-gray-300">
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<div class="turrell-glow"></div>
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<div class="container mx-auto p-4 md:p-8">
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<header class="text-center py-12">
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<h1 class="text-4xl md:text-6xl font-bold text-indigo-300 text-glow tracking-widest">
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深度研报：卫星出海
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</h1>
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<p class="mt-4 text-indigo-400 max-w-3xl mx-auto">
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北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现。本报告基于多源信息合成，内容仅供参考，投资需谨慎。
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</p>
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</header>
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<main class="space-y-8">
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<!-- Bento Grid Layout -->
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<div class="grid grid-cols-1 lg:grid-cols-3 gap-8">
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<!-- Main Content Column -->
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<div class="lg:col-span-3 space-y-8">
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<!-- Core Thesis -->
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<section class="glass rounded-3xl p-8 card-glow-border">
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<h2 class="text-glow">核心观点摘要</h2>
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<p class="text-lg leading-relaxed text-gray-200">
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“卫星出海”正处于从<strong class="text-indigo-300">国内能力建设</strong>向<strong class="text-indigo-300">国际商业化落地</strong>的转折点。其核心驱动力是国家战略意志下的全球资源抢占与“一带一路”空间信息走廊建设，叠加国内卫星产业技术和成本优势的初步显现。未来潜力巨大，尤其是在亚非拉新兴市场，但短期内仍面临与Starlink等国际巨头的激烈竞争和复杂的地缘政治风险。
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</p>
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</section>
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</div>
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<!-- Left Column -->
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<div class="lg:col-span-2 space-y-8">
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<!-- Concept Timeline Chart -->
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<section class="glass rounded-3xl p-6 sm:p-8 card-glow-border">
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<h2>概念事件与发展脉络</h2>
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<div id="timeline-chart" class="w-full h-96"></div>
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</section>
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<!-- Core Logic -->
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<section class="glass rounded-3xl p-8 card-glow-border">
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<h2>核心逻辑与市场认知分析</h2>
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<div>
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<h3 class="!mt-0">核心驱动力</h3>
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<ul class="space-y-4 list-none">
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<li class="flex items-start">
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<span class="text-indigo-400 mr-3 mt-1">▶</span>
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<div><strong class="text-indigo-300">战略驱动 (国家意志)：</strong>最根本的逻辑。低轨卫星的轨道和频谱资源是稀缺的、先占先得的战略资源。在全球卫星“军备竞赛”升级背景下，中国必须加速建设全球覆盖的卫星网络，保障国家通信安全与全球竞争力。“卫星出海”与“军贸逻辑”相似，是“一带一路”倡议在高科技领域的具体实践。</div>
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</li>
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<li class="flex items-start">
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<span class="text-indigo-400 mr-3 mt-1">▶</span>
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<div><strong class="text-indigo-300">技术驱动 (产业成熟)：</strong>国内已形成完整的卫星产业链，从卫星制造、核心载荷到地面设备和终端。G60、国网等星座的密集发射，验证了我国具备大规模星座部署和运营的能力，这是“出海”的技术基础。</div>
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</li>
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<li class="flex items-start">
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<span class="text-indigo-400 mr-3 mt-1">▶</span>
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<div><strong class="text-indigo-300">市场驱动 (需求蓝海)：</strong>亚非地区超25亿人口未接入互联网。Starlink价格高昂且存在地缘政治不确定性，为中国提供了切入“一带一路”沿线国家市场的机会窗口。</div>
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</li>
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</ul>
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</div>
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<div>
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<h3>市场热度与预期差</h3>
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<p>当前市场对“卫星出海”概念热度极高，情绪普遍乐观，券商强推、事件驱动明显。但存在潜在预期差：</p>
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<ol class="list-decimal list-inside space-y-2 mt-4 text-gray-300">
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<li><strong>出海模式的多样性被忽略：</strong>市场过度聚焦于类Starlink模式，而忽略了高轨卫星（中国卫通）、手机直连（中国电信）、北斗应用、纯硬件出口等多元化路径。</li>
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<li><strong>竞争复杂性被低估：</strong>Starlink拥有巨大先发优势（覆盖100国，400万用户）。中国卫星出海初期更可能是填补“缝隙市场”和满足B/G端特定需求，商业化坡度可能比预期更缓。</li>
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<li><strong>国内星座的竞合关系：</strong>“国网”、“G60/千帆”分属不同主体，其在全球市场的协同效率是影响“出海”合力的关键变量，市场对此讨论较少。</li>
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</ol>
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</div>
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</section>
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</div>
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<!-- Right Column -->
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<div class="lg:col-span-1 space-y-8">
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<!-- Supporting Data -->
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<section x-data="{ tab: 'news' }" class="glass rounded-3xl p-6 sm:p-8 card-glow-border">
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<h2>关键信息源佐证</h2>
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<div class="tabs tabs-boxed bg-black/20">
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<a class="tab" :class="{ 'tab-active !bg-indigo-600': tab === 'news' }" @click.prevent="tab = 'news'">新闻</a>
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<a class="tab" :class="{ 'tab-active !bg-indigo-600': tab === 'roadshow' }" @click.prevent="tab = 'roadshow'">路演</a>
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<a class="tab" :class="{ 'tab-active !bg-indigo-600': tab === 'report' }" @click.prevent="tab = 'report'">研报</a>
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</div>
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<div class="mt-4 space-y-4 text-sm min-h-[300px]">
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<div x-show="tab === 'news'">
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-semibold text-indigo-300">G60星座出海巴西</p>
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<p class="text-gray-400">上海垣信卫星与巴西签署合作备忘录，标志着商业航天加快出海运营步伐。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">国内组网能力</p>
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<p class="text-gray-400">G60已发射90颗，GW已发射34颗，千帆累计72颗，为全球服务奠定基础。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">券商投资主线</p>
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<p class="text-gray-400">天风证券等反复强调“AI+出海+卫星”为核心三大投资方向。</p>
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</div>
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</div>
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<div x-show="tab === 'roadshow'">
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-semibold text-indigo-300">全球网络覆盖目标</p>
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<p class="text-gray-400">千帆星座计划2027年实现全球网络覆盖，为境外用户提供服务，意图在全球市场与Starlink竞争。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">国际商业洽谈</p>
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<p class="text-gray-400">中国星网已与巴西签署备忘录，并与30余国进行商业洽谈，推动全球商用。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">整星出口案例</p>
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<p class="text-gray-400">中国卫星已为埃及制造遥感卫星，证明具备整星出口能力。</p>
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</div>
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</div>
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<div x-show="tab === 'report'">
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-semibold text-indigo-300">巴西市场突破</p>
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<p class="text-gray-400">垣信卫星将在2026年为巴西提供正式商用服务，这是中国卫星企业迈出海外的重要一步。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">国际码号资源</p>
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<p class="text-gray-400">中国电信获批卫星国际码号，可面向“天通一号”覆盖区域的国际用户提供手机直连服务。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5 mt-4">
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<p class="font-semibold text-indigo-300">新兴市场潜力</p>
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<p class="text-gray-400">“一带一路”沿线（东南亚、中东、非洲）在应急、偏远地区通信、航空航海等领域应用潜力巨大。</p>
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</div>
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</div>
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</div>
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</section>
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<!-- Catalysts -->
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<section class="glass rounded-3xl p-6 sm:p-8 card-glow-border">
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<h2>关键催化剂与发展路径</h2>
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<h3 class="!mt-0">近期催化剂 (3-6个月)</h3>
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<ul class="list-disc list-inside space-y-2">
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<li><strong>国际合作协议持续落地：</strong>与30余国的洽谈中任何一份新协议都是强催化剂。</li>
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<li><strong>国内星座组网关键节点：</strong>完成第一阶段全球覆盖组网的宣告。</li>
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<li><strong>手机直连卫星商业化进展：</strong>国产主流手机厂商宣布支持。</li>
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</ul>
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<h3 class="!mt-4">长期发展路径</h3>
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<ul class="timeline timeline-snap-icon timeline-compact timeline-vertical">
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<li>
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<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="h-5 w-5 text-indigo-400"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm3.857-9.809a.75.75 0 00-1.214-.882l-3.483 4.79-1.88-1.88a.75.75 0 10-1.06 1.061l2.5 2.5a.75.75 0 001.137-.089l4-5.5z" clip-rule="evenodd" /></svg></div>
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<div class="timeline-end timeline-box !bg-transparent !border-none !shadow-none mb-4">
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<time class="font-mono italic">2024-2026年</time>
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<div class="text-lg font-black text-indigo-300">滩头阵地拓展期</div>
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以巴西等为突破口，服务B/G端客户，建设地面站。
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</div><hr class="!bg-indigo-700/50"/>
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</li>
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<li><hr class="!bg-indigo-700/50"/>
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<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="h-5 w-5 text-indigo-400"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm3.857-9.809a.75.75 0 00-1.214-.882l-3.483 4.79-1.88-1.88a.75.75 0 10-1.06 1.061l2.5 2.5a.75.75 0 001.137-.089l4-5.5z" clip-rule="evenodd" /></svg></div>
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<div class="timeline-end timeline-box !bg-transparent !border-none !shadow-none mb-4">
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<time class="font-mono italic">2027-2030年</time>
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<div class="text-lg font-black text-indigo-300">服务网络成型期</div>
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全球覆盖完善，服务扩展至“一带一路”区域，C端应用开始放量。
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</div><hr class="!bg-indigo-700/50"/>
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</li>
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<li><hr class="!bg-indigo-700/50"/>
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<div class="timeline-middle"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" fill="currentColor" class="h-5 w-5 text-indigo-400"><path fill-rule="evenodd" d="M10 18a8 8 0 100-16 8 8 0 000 16zm3.857-9.809a.75.75 0 00-1.214-.882l-3.483 4.79-1.88-1.88a.75.75 0 10-1.06 1.061l2.5 2.5a.75.75 0 001.137-.089l4-5.5z" clip-rule="evenodd" /></svg></div>
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<div class="timeline-end timeline-box !bg-transparent !border-none !shadow-none">
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<time class="font-mono italic">2030年以后</time>
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<div class="text-lg font-black text-indigo-300">全球生态竞争期</div>
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与国际巨头并存竞争，焦点转向应用生态、成本和与6G等技术融合。
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</div>
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</li>
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</ul>
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</section>
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</div>
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<!-- Full Width Sections -->
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<div class="lg:col-span-3 space-y-8">
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<!-- Industry Chain -->
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<section class="glass rounded-3xl p-8 card-glow-border">
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<h2>产业链与核心公司深度剖析</h2>
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<div id="sankey-chart" class="w-full h-[500px]"></div>
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<div>
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<h3>核心玩家对比</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6 mt-4">
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-bold text-lg text-indigo-300">上海瀚讯 (300762)</p>
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<p><strong class="text-gray-400">逻辑纯粹性：最高。</strong> G60星链计划中载荷的<strong class="text-green-400">唯一供应商</strong>，业绩强绑定。</p>
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<p><strong class="text-gray-400">风险：</strong>单一客户依赖度高。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-bold text-lg text-indigo-300">长江通信 (600345)</p>
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<p><strong class="text-gray-400">逻辑纯粹性：高。</strong> 直接中标垣信<strong class="text-green-400">地面站建设</strong>，是出海基础设施落地的直接参与者。</p>
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<p><strong class="text-gray-400">风险：</strong>项目制业务，需持续获得新订单。</p>
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</div>
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<div class="p-4 border border-white/10 rounded-xl bg-white/5">
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<p class="font-bold text-lg text-indigo-300">高斯贝尔 (002848)</p>
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<p><strong class="text-gray-400">逻辑纯粹性：中等。</strong> “产品已出海”，卫星接收设备销往巴西等国，已有<strong class="text-green-400">成熟海外渠道</strong>。</p>
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<p><strong class="text-gray-400">风险：</strong>终端市场竞争激烈，需关注产品升级能力。</p>
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</div>
|
||
<div class="p-4 border border-white/10 rounded-xl bg-white/5">
|
||
<p class="font-bold text-lg text-indigo-300">中国卫通 (601698)</p>
|
||
<p><strong class="text-gray-400">逻辑纯粹性：独特。</strong> 作为<strong class="text-green-400">高轨卫星运营商</strong>，出海逻辑成熟，已覆盖“一带一路”。</p>
|
||
<p><strong class="text-gray-400">风险：</strong>增长弹性相对低轨较小，但确定性更高。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Risks and Conclusion -->
|
||
<section class="glass rounded-3xl p-8 card-glow-border">
|
||
<h2>潜在风险与投资启示</h2>
|
||
<h3>潜在风险与挑战</h3>
|
||
<ul class="space-y-3 list-none">
|
||
<li class="flex items-start"><span class="text-red-400 mr-3 mt-1">▲</span><div><strong class="text-red-300">技术风险：</strong>与Starlink在发射成本和部署效率上的差距依然是现实瓶颈。</div></li>
|
||
<li class="flex items-start"><span class="text-red-400 mr-3 mt-1">▲</span><div><strong class="text-red-300">商业化风险：</strong>面临Starlink的强大竞争（巴西市场份额45.9%），新兴市场支付能力和用户习惯是未知数。</div></li>
|
||
<li class="flex items-start"><span class="text-red-400 mr-3 mt-1">▲</span><div><strong class="text-red-300">政策与地缘政治风险：</strong>国际频轨资源争夺、出口管制与中美贸易摩擦是最大的外部不确定性。</div></li>
|
||
<li class="flex items-start"><span class="text-red-400 mr-3 mt-1">▲</span><div><strong class="text-red-300">信息交叉验证风险：</strong>当前信息源多为卖方研报和公司正面路演，可能存在“报喜不报忧”倾向。</div></li>
|
||
</ul>
|
||
<h3 class="text-glow">综合结论与投资启示</h3>
|
||
<p>“卫星出海”已从纯粹的主题炒作进入由标志性事件催化的<strong class="text-green-300">基本面预期驱动阶段</strong>。目前是“0到1”的突破，而非“1到N”的快速复制。距离大规模业绩兑现仍有距离。</p>
|
||
<h4 class="font-semibold text-indigo-300 mt-4 mb-2">最具投资价值的细分环节：</h4>
|
||
<ol class="list-decimal list-inside space-y-2">
|
||
<li><strong>核心星座的“绑定”供应商：</strong>如<strong class="text-white">上海瀚讯</strong>。逻辑最纯粹，业绩弹性最大，高风险高收益。</li>
|
||
<li><strong>地面设备与终端制造商：</strong>如<strong class="text-white">长江通信、高斯贝尔</strong>。需求刚性，确定性更高，更为稳健。</li>
|
||
</ol>
|
||
<h4 class="font-semibold text-indigo-300 mt-4 mb-2">需重点跟踪验证的关键指标：</h4>
|
||
<ul class="list-disc list-inside space-y-1 text-gray-400">
|
||
<li>海外新增订单公告（特别是合同金额和履行期限）。</li>
|
||
<li>核心星座发射进度（月度/季度发射数量）。</li>
|
||
<li>终端产品价格与出货量。</li>
|
||
<li>国际合作的地缘政治风向。</li>
|
||
</ul>
|
||
</section>
|
||
</div>
|
||
|
||
<!-- Stock Data Section -->
|
||
<div class="lg:col-span-3 space-y-8">
|
||
<section class="glass rounded-3xl p-6 sm:p-8 card-glow-border">
|
||
<h2 class="text-glow">相关标的池</h2>
|
||
|
||
<div class="collapse collapse-arrow glass rounded-box mt-4">
|
||
<input type="checkbox" checked/>
|
||
<div class="collapse-title text-xl font-medium text-indigo-300">
|
||
核心概念股 (20241120) - 涨停及关联个股
|
||
</div>
|
||
<div class="collapse-content">
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra table-sm">
|
||
<thead class="text-base text-indigo-300">
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>核心逻辑</th>
|
||
<th>其他标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>长江通信</td><td><a href="https://valuefrontier.cn/company?scode=600345" target="_blank" class="link link-hover">600345</a></td><td>公司中标上海垣信卫星地面站园区建设和信关站建设</td><td><div class="badge badge-error">涨停个股</div> <div class="badge badge-info">卫星出海</div></td></tr>
|
||
<tr><td>高斯贝尔</td><td><a href="https://valuefrontier.cn/company?scode=002848" target="_blank" class="link link-hover">002848</a></td><td>公司卫星接收设备销往印度、印尼、巴西等国，满足巴西要求</td><td><div class="badge badge-error">涨停个股</div> <div class="badge badge-info">卫星出海</div></td></tr>
|
||
<tr><td>海能达</td><td><a href="https://valuefrontier.cn/company?scode=002583" target="_blank" class="link link-hover">002583</a></td><td>公司部分终端产品采用北斗系统模块，属于北斗下游应用</td><td><div class="badge badge-error">涨停个股</div> <div class="badge badge-info">卫星出海</div></td></tr>
|
||
<tr><td>和而泰</td><td><a href="https://valuefrontier.cn/company?scode=002402" target="_blank" class="link link-hover">002402</a></td><td>铖昌科技产品主要应用于卫星通信等重大项目领域</td><td><div class="badge badge-error">涨停个股</div> <div class="badge badge-info">卫星出海</div></td></tr>
|
||
<tr><td>上海瀚讯</td><td><a href="https://valuefrontier.cn/company?scode=300762" target="_blank" class="link link-hover">300762</a></td><td>G60星链计划中载荷的唯一供应商，提供星上基站、相控阵天线等</td><td><div class="badge badge-success">核心关联</div> <div class="badge badge-warning">垣信卫星</div></td></tr>
|
||
<tr><td>中国电信</td><td><a href="https://valuefrontier.cn/company?scode=601728" target="_blank" class="link link-hover">601728</a></td><td>参股上海垣信卫星比例A股第一（4.8%）</td><td><div class="badge badge-primary">股东</div> <div class="badge badge-warning">垣信卫星</div></td></tr>
|
||
<tr><td>天银机电</td><td><a href="https://valuefrontier.cn/company?scode=300342" target="_blank" class="link link-hover">300342</a></td><td>子公司天银星际是千帆星座的核心供应商</td><td><div class="badge badge-accent">千帆星座</div></td></tr>
|
||
<tr><td>立昂微</td><td><a href="https://valuefrontier.cn/company?scode=605358" target="_blank" class="link link-hover">605358</a></td><td>pHEMT工艺技术射频芯片产品已应用于“千帆星座”并规模出货</td><td><div class="badge badge-accent">千帆星座</div></td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="collapse collapse-arrow glass rounded-box mt-4">
|
||
<input type="checkbox" />
|
||
<div class="collapse-title text-xl font-medium text-indigo-300">
|
||
市场人气及潜力股
|
||
</div>
|
||
<div class="collapse-content">
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra table-sm">
|
||
<thead class="text-base text-indigo-300">
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>核心逻辑</th>
|
||
<th>其他标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>中国卫通</td><td><a href="https://valuefrontier.cn/company?scode=601698" target="_blank" class="link link-hover">601698</a></td><td>提供卫星运营服务，网络系统集成与服务等</td><td><div class="badge badge-ghost">人气股</div></td></tr>
|
||
<tr><td>博通集成</td><td><a href="https://valuefrontier.cn/company?scode=603068" target="_blank" class="link link-hover">603068</a></td><td>承担上海市战略性新兴产业项目“工业级第三代北斗基-射一体化SOC芯片研制”</td><td><div class="badge badge-ghost">芯片</div></td></tr>
|
||
<tr><td>四川九洲</td><td><a href="https://valuefrontier.cn/company?scode=000801" target="_blank" class="link link-hover">000801</a></td><td>空管产品覆盖雷达、电子对抗、航天通信、空管系统等领域</td><td><div class="badge badge-error">三连板</div></td></tr>
|
||
<tr><td>魅视科技</td><td><a href="https://valuefrontier.cn/company?scode=001229" target="_blank" class="link link-hover">001229</a></td><td>为中国载人航天工程和探月工程的指挥控制中心提供解决方案</td><td><div class="badge badge-error">二连板</div></td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Rise Analysis -->
|
||
<section class="glass rounded-3xl p-6 sm:p-8 card-glow-border">
|
||
<h2 class="text-glow">相关个股异动深度解析</h2>
|
||
<div class="space-y-4">
|
||
<div class="collapse collapse-plus glass rounded-box">
|
||
<input type="radio" name="rise-accordion" checked="checked" />
|
||
<div class="collapse-title text-lg font-medium text-indigo-300">
|
||
中国卫星 (600118) - 2025-10-29 上涨 5.64%
|
||
</div>
|
||
<div class="collapse-content">
|
||
<p><strong>核心观点：</strong>由“业绩超预期反转”为核心驱动力，“板块事件催化剂”（神舟二十一号发射）为情绪放大器，并在“国家长期战略”宏大叙事背景下，共同作用引发的典型价值重估行情。</p>
|
||
<p class="mt-2"><strong>主要原因：</strong>1. 第三季度营收同比增177%，净利同比扭亏为盈，远超市场预期。2. 神舟二十一号发射在即，点燃板块热情。3. “航天强国”写入顶层设计，打开长期想象空间。4. 公司积极拓展海外市场，为阿曼、埃及等提供整星出口，与“出海”逻辑完美呼应。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glass rounded-box">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-lg font-medium text-indigo-300">
|
||
航天宏图 (688066) - 2025-08-29 上涨 17.94%
|
||
</div>
|
||
<div class="collapse-content">
|
||
<p><strong>核心观点：</strong>重大海外订单公告成为直接催化剂，标志着公司出海业务的重大突破，引发市场对其估值的重估。</p>
|
||
<p class="mt-2"><strong>主要原因：</strong>1. 公告签署9.9亿元海外卫星及地面系统采购合同，为公司历史单项最高额。2. 首次承接向国际客户提供卫星在轨交付业务，业务模式升级。3. 订单预计对当期业绩产生积极影响，提振市场信心。4. 军工板块整体活跃，形成板块效应。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glass rounded-box">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-lg font-medium text-indigo-300">
|
||
达华智能 (002512) - 2025-10-28 上涨 9.98%
|
||
</div>
|
||
<div class="collapse-content">
|
||
<p><strong>核心观点：</strong>获得国家星网集团19.8亿元大额订单，叠加福建省示范省政策，带来可量化的收入弹性和国家级订单背书，直接触发涨停。</p>
|
||
<p class="mt-2"><strong>主要原因：</strong>1. 公告获得中国星网19.8亿卫星互联网终端框架合同，锁定未来三年高毛利订单。2. 福建省《卫星互联网应用示范省建设方案》点名支持省内终端企业，公司作为福州本地企业直接受益。3. 公司此前披露卫星终端已随渔业船舶出口东南亚、中东，强化“出海”逻辑。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
</div>
|
||
</div>
|
||
</main>
|
||
|
||
<footer class="text-center py-8 mt-8 text-xs text-gray-500">
|
||
<p>北京价值前沿科技有限公司 AI投研agent：“价小前投研”</p>
|
||
<p>本报告由人工智能基于公开信息自动生成，不构成任何投资建议，据此操作，风险自担。</p>
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</footer>
|
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