Catalyst continues, the investment value of satellite sectors in May-June has attracted much attention

Ask AI · How will the listing of SpaceX affect the global space investment boom?

1. Core logic: The market is approaching resistance levels, and after the quarterly report period, the fundamental valuation factors weaken. Thematic trading is expected to outperform, with satellites being a key direction recently catalyzed more frequently.

2. Core catalyst #1: Important rocket maiden flight.

1. National team: Long March-乙 (reusable rocket) is expected to launch soon, verifying maritime recovery. The national team can use the more technically mature models of reusable rockets, with a higher success probability.

2. Private sector: Zhuque 2-e with satellites is scheduled for launch in May, and the reusable Zhuque 3 is also expected to launch in June (Zhuque 3 failed once last year; this time, the success probability is greatly increased).

Verification success of reusable rockets remains a crucial step in commercial spaceflight, significantly reducing launch costs, thereby greatly increasing satellite launch speed and accelerating industry development.

3. Core catalyst #2: Listing of important domestic and overseas companies

1. Overseas: SpaceX is expected to complete its IPO in June-July, merging with X AI, which will be the largest IPO in human history, with a valuation reaching $1.8 trillion, bringing significant overseas reflection. The roadshow is expected to start in late May, possibly with updated long-term space development goals, boosting industry confidence.

2. Domestic: A batch of high-quality domestic industry chain companies such as LandSpace, Tianbing Technology, CAS Space, and GalaxyPower are still pushing forward with their listing processes. Capital market financing is an important guarantee for the healthy development of the commercial space industry chain. The listing of core companies will serve as an effective catalyst.

Products: Satellite ETF E Fund (563530) tracks the CSI Satellite Industry Index. 1) The index has a high application-side proportion, aligning with long-term industry development trends, with large growth potential and resilience. 2) The leading companies have high concentration, and in the early stages of industry development, leading firms are likely to benefit more. 3) The industry chain coverage is more comprehensive, enjoying industry beta.