CITIC Securities: Breakthroughs in private rocket technology and markets will drive the development of related companies in the industry chain.

CITIC Securities research report stated that with the gradual maturity of private large-scale liquid rocket technology, the gradual advancement of reusable technology experiments, and the gradual breakthrough of related companies in market development, China's low-orbit satellite internet constellation project is expected to gradually open up to private rockets. Private liquid rockets will become a powerful supplement to China's rocket launch resources, and are expected to significantly reduce rocket launch costs, accelerate the construction of China's satellite internet, drive the development of the rocket and satellite industry chain. The technological and market breakthroughs of private rockets will significantly drive the development of related companies in the industry chain. It is recommended to pay attention to companies specializing in rocket body structural components, liquid rocket engine structural components, and sensor-related companies, as well as to focus on rocket 3D printing services and 3D printing equipment-related companies.