HK Stock Concept Tracker | Major Move! Shanghai Issues Satellite Internet Industry Action Plan; Domestic Constellation Networking Accelerating into a Rapid Growth Phase (with Concept Stocks)

On October 26, six departments including the Shanghai Municipal Commission of Economy and Informatization issued the "Shanghai Satellite Internet Industry Innovation and Development Action Plan (2027-2030)" (hereinafter referred to as the "Action Plan"). On October 27, the 2026 Satellite Internet Industry Ecosystem Conference, themed "Stellar Brilliance over Shanghai Chains Gathering New Quality," was held in Songjiang District, Shanghai. With the policy release and industry event following in quick succession, the development of Shanghai's satellite internet industry has pressed the "accelerator button." According to the Action Plan, by 2030, Shanghai's satellite internet core industry scale will exceed RMB80 billion, the total number of in-orbit satellites will exceed 3,000, more than 100 high-quality enterprises and other entities will be cultivated, and "100+ benchmark demonstration applications" will be created. Industry insiders said that this Action Plan covers the entire chain of technological breakthroughs, infrastructure, industrial agglomeration, and application demonstrations, with clear goals and paths, and is expected to drive Shanghai to build a nationally leading industrial cluster in satellite internet, a strategic emerging industry. Progress on the rocket launch capacity side was reported the same day. China's independently developed Lijian-2 Y2 carrier rocket has been transferred to its dedicated launch pad at the Dongfeng Commercial Aerospace Innovation Test Zone, entering a critical pre-launch preparation stage, and will be launched at an appropriate time in the near future. Previously, Lijian-2 successfully won the bid for Shanghai Yuanxin's "Qianfan Constellation" "18 satellites per rocket" launch service procurement project. Just two days earlier, China successfully launched the 28th group of low-orbit satellites for satellite internet using a Long March 8A carrier rocket at the Hainan Commercial Space Launch Site. Currently, domestic low-orbit constellation launches have entered a high-frequency, normalized phase, and combined with the implementation of local industrial plans, the industry is moving from technical verification to large-scale networking and commercial application. Satellite internet is a new type of network infrastructure that provides broadband internet access services to ground and airborne terminals through a large number of communication satellites deployed in low orbit, complementing terrestrial mobile communication networks. Its industry chain upstream consists of rocket launch and satellite manufacturing, including satellite platforms, communication payloads, phased-array antennas, laser communication terminals, and core components such as T/R chips; the midstream consists of constellation networking and operations; and the downstream extends to ground terminal equipment, direct-to-handset connectivity, aviation and maritime networking, and industry private networks and other application services. China is advancing the batch launch and networking of the China SatNet GW constellation and the G60 Qianfan constellation, and the Hainan Commercial Space Launch Site and commercial carrier rockets have been put into use successively. From the perspective of policy positioning, Guolian Minsheng Securities pointed out that the 2026 Government Work Report proposed "accelerating the development of satellite internet" as a standalone item for the first time and incorporated it into the new infrastructure deployment of the "15th Five-Year Plan" outline, listing it alongside computing power networks and communication networks as the three core supports. The policy focus has fully shifted from "technological breakthroughs" to "industrialization implementation and global competition." "Low-orbit satellite internet has received top-level key support, and domestic constellation networking is accelerating into a rapid growth phase," Huayuan Securities believes. Satellite internet has been upgraded from a thematic concept to an independent direction of national-level communications infrastructure, and the industry logic is shifting from thematic catalysis to networking acceleration and commercialization realization. It is recommended to prioritize tracking launch cadence, single-satellite performance compliance, and the implementation of direct connectivity applications. Wanlian Securities' latest research report pointed out that the continued construction of domestic and international low-orbit constellations will further promote the deployment of integrated space-air-ground communication networks and drive the upgrading of high-speed inter-satellite interconnection and ground bearer networks. It is recommended to pay attention to the networking progress and the incremental demand for inter-satellite laser communication terminals. Related concept stocks: NANJING PANDA (00553): Recently, Panda Communications, a subsidiary of NANJING PANDA Co., Ltd., has achieved successive breakthroughs in the low-orbit satellite communication field, successfully winning bids for an automated testing terminal project and a portable satellite communication signal repeater project, with a total bid amount of nearly RMB4 million. This bid win marks a key step forward for Panda Communications in the development of low-orbit satellite communication terminals and the verification of satellite waveform systems. SHANGHAI FUDAN (01385): Shanghai Fudan Microelectronics Group, as an FPGA supplier, occupies a core position in the satellite industry chain. According to the official WeChat account of Shanghai Fudan Microelectronics Group, the company recently appeared at both the CIOE China Optoelectronic Expo and the IC Innovation Expo with two major product lines: programmable logic devices and intelligent appliances. Among them, the programmable logic device product line includes the FM9V series FPGA, FMQL series PSoC, RFSoC radio frequency system-on-chip, FPAI heterogeneous fusion intelligent chip, and FPGA Agent solutions. Yu Jian, deputy general manager of Shanghai Fudan Microelectronics Group's sub-group, said that FPGA is essentially "software-defined hardware," and AI's transformation of the software world is gradually transmitting to the hardware field. Shanghai Fudan Microelectronics Group's FPGA intelligent development Agent has been productized, and the Agent will drive the development paradigm to shift from "engineers driving tools and experience-led iteration" to "Agent autonomous analysis, root cause identification, and strategy adjustment," and will also empower core fields such as finance, commercial aerospace, and scientific computing in the future. China Telecom Corporation (00728): In September 2023, China Telecom Corporation took the lead globally in launching direct-to-handset satellite services, enabling consumer smartphones to flexibly switch between terrestrial 4G/5G networks and Tiantong satellite networks "without changing SIM cards or phone numbers," easily completing satellite calls and SMS sending and receiving, breaking free from satellite communication's dependence on professional terminals, and providing communication guarantees for consumers in remote areas and scenarios without terrestrial network coverage. As of November 2025, China Telecom Corporation has partnered with mainstream phone manufacturers such as Huawei, Honor, Xiaomi, OPPO, vivo, ZTE, and Samsung to launch 40 handset models with direct-to-satellite functionality, with cumulative sales exceeding 25 million units, bringing satellite communication functions to tens of millions of consumers. China Mobile Limited (00941): Recently, China Mobile Limited officially launched Tiantong satellite call services nationwide. Together with Beidou satellite SMS services, the service has built a "Tiantong + Beidou" dual-satellite coordinated space-ground integrated communication guarantee system. Whether in remote mountains and deserts, distant oceans and islands, or in scenarios where ground communications are interrupted by disasters, users can connect directly to satellites via mobile phones and obtain dual "text + voice" communication guarantees. China United Network Communications (00762): Recently, China United Network Communications' Tiantong satellite service was launched nationwide! As a leading domestic operator in space-ground integrated communications, China United Network Communications relies on high-quality network resources to build an integrated "voice + SMS + location" all-domain communication guarantee system, and an "invisible grand network" of satellite communications covering the whole country and reaching mountains and seas has been comprehensively upgraded. By leveraging its nationwide integrated satellite operation service capabilities and the synergy advantages of all-domain ground networks, China United Network Communications has taken the lead in building a "space-air-ground-sea" full-coverage integrated communication system, fully bringing the dividends of satellite technology to emergency support, livelihood services, and industry development.