On January 12, 2026, the commercial aerospace sector extended its robust performance from the previous week. By midday close, according to data from East Money Information, the commercial aerospace sector index (BK0963) surged 6.31% to 3,078 points, with multiple concept stocks triggering a wave of limit-up gains. Among them, China Satellite (600118) hit the daily limit-up, with its share price reaching a new historical high and its latest market capitalization hitting 137.9 billion yuan.
Looking at individual stock performances, Goldwind Science & Technology achieved its fifth consecutive limit-up, Tongyu Communication secured its third limit-up in four days, while Juli Sling and Hangxiao Steel Structure both clinched their third straight limit-ups. Stocks like Taisheng Wind Power and Zhongtian Rocket also followed with gains.
On the news front, the commercial aerospace field has recently welcomed a concentration of positive developments. On January 10, the International Telecommunication Union (ITU) website showed that China submitted an application for an additional 203,000 satellites. This application covers 14 satellite constellations, setting a new record for the number of satellite constellation applications filed by China. Notably, over 190,000 of these satellites are from China's newly established "Radio Spectrum Development, Utilization and Technological Innovation Research Institute."
Policy support has also been continuously intensified. In November 2025, the China National Space Administration (CNSA) officially established the Commercial Aerospace Department, marking the first national-level dedicated regulatory body for China's commercial aerospace industry. In the same month, the CNSA issued the "Action Plan for Promoting High-Quality and Safe Development of Commercial Aerospace (2025-2027)," integrating commercial aerospace into the overall national aerospace development layout.
Subsequently, in December, the Shanghai Stock Exchange released the "Guidelines for Commercial Rocket Companies Applying the Fifth Set of Listing Standards on the Sci-Tech Innovation Board," providing a clear pathway for commercial rocket companies to aim for a listing on the STAR Market. The IPO application of LandSpace for the STAR Market has already been accepted, with plans to raise 7.5 billion yuan, making it the first company accepted under the expanded scope of the fifth set of standards to include the commercial aerospace sector. A research report from China Securities (CSC) pointed out that, supported by national policies and breakthroughs in industrial technology, the commercial aerospace industry is expected to enter a new era. Key segments of the commercial aerospace industry related to informatization include remote sensing and its applications, satellite measurement, operation, and control systems, CAE simulation/satellite testing, and inter-satellite transmission processing modules, while new scenario expansion focuses on space-based computing power.
Kaiyuan Securities stated that in 2026, China's commercial aerospace sector is expected to experience a triple resonance of "policy + technology + capital," warranting high expectations. Empowered by policy support and breakthroughs in core technologies such as large-scale satellite manufacturing and reusable rockets, the industry is entering a period of rapid development. Leading companies across the upstream and downstream industrial chain are seeing steady revenue growth and have ample order reserves, indicating broad long-term growth potential.
Wu Wanying, a senior researcher at the Tianyi Digital Economy Think Tank, commented that the recent batch limit-up gains of commercial aerospace concept stocks result from the resonance of the industry's long-term development logic with short-term concentrated positive events. This is driven not only by multi-layered policy support providing strategic guidance but also by the definite market demand catalyzed by national satellite internet projects, such as the "Qianfan Constellation," entering intensive deployment phases. The enthusiastic response from the capital market reflects positive expectations for commercial aerospace transitioning from "prototypes" to "products" and moving from the investment phase into the mass production inaugural year. However, the substantial gains and high valuations of some individual stocks also reflect heightened market sentiment; investors need to be mindful of potential risks stemming from short-term speculative overheating versus the long-term realization of performance.
The sustained popularity of the commercial aerospace concept has also become a core driver behind the significant share price increases of wind power companies. Sectors like perovskite batteries and space-based photovoltaics led the gains, with stocks like Risen Energy, Maxwell Technologies, and Jiejia Topranking leading the advance. On the news front, several listed photovoltaic companies have shown significantly increased interest in space-based photovoltaics recently, with many emphasizing the application prospects of perovskite technology in space.
Institutional research reports indicate that a consensus is gradually forming around space-based computing power. Overseas giants have already made plans to deploy space data centers, and China's commercial aerospace sector is also entering a phase of large-scale deployment, potentially experiencing explosive growth in the coming years. As the primary power source for satellites, the cost proportion of photovoltaic systems in the overall setup is expected to continue rising.
"The current strong performance of commercial aerospace is essentially an inevitable outcome of the development of new quality productive forces and a rational pricing by the capital market for strategic emerging industries," said Hu Qimu, a special researcher at the China Enterprise Confederation, in an interview. Driven by multiple positive factors including continuous policy support, ongoing technological breakthroughs, and accelerated capital aggregation, the commercial aerospace industry will gradually transition from engineering breakthroughs to large-scale implementation. Sub-sectors such as rocket manufacturing, satellite constellation deployment, space-based energy, and space-based computing power will continue to unleash their growth potential.
However, Wu Wanying also cautioned that while the prospects for commercial aerospace are vast, the challenges are severe. The short term may see an order explosion driven by reusable rocket technology verification and national constellation deployments. In the long run, the industry has the potential to unlock a trillion-yuan new market through orders-of-magnitude reductions in launch costs. While current capital market enthusiasm has already priced in these expectations, the industry's ultimate performance depends on whether companies can overcome core challenges such as high technological risks, massive investments, and international competition.
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