Yamato: Sino-Wealth Communication is expected to benefit from a potential surge in Starlink users.

The analysts at Yamato Capital Market in a research report stated that Xinwei Communication is expected to benefit from the potential surge in users of SpaceX's "Starlink" satellite internet service. According to SpaceX's prospectus, Starlink has registered users exceeding 10 million, in this scenario, this Chinese company currently expects its user base to double in 2026 and 2027, reaching 150-200 million by 2030. Given Xinwei Communication's position as a ground terminal supplier for Starlink, Yamato believes the company is a direct beneficiary. The company highlighted progress in supplying phased array antennas to Starlink, as well as increasing collaboration with the satellite internet service Amazon Leo. Yamato has raised the stock's target price from RMB 105.00 to RMB 130.00 and maintains a buy rating unchanged.