In 2026, space computing power will enhance the value of on-orbit assets, presenting opportunities for the Ping An CSI Satellite Industry Index.
Introduction: In 2026, the global satellite internet officially entered a period of resonance between large-scale constellation deployment and the exploration of in-orbit computing power applications. With the maturation of inter-satellite links and in-orbit processing technologies, the function of satellites is transitioning from traditional "aerial relays" to "space data centers." As a tool precisely positioned at this technological inflection point, the Ping An CSI Satellite Industry Index (025491) is capturing the valuation premium brought by this paradigm shift through deep allocation in core payload components and high-computing-power chip targets.
I. Space Computing Power: The Underlying Engine Driving the Revaluation of In-Orbit Assets
From the 2026 industry perspective, satellites are no longer merely signal carriers. Satellite payloads equipped with edge computing capabilities not only enhance the real-time nature of remote sensing data but also profoundly alter the attribute of satellites as mere communication relays.
Breakthrough in Efficiency Bottlenecks: In the past, satellites needed to transmit massive raw data back to ground stations, facing challenges of limited bandwidth and latency. Satellites with space computing power can directly perform target identification and data cleansing in orbit, significantly reducing downlink pressure.
Premium from "Hardware" to "Service": This technological evolution has endowed in-orbit assets with higher added value, making them closer to edge nodes in cloud computing. This shift in logic directly drives the valuation reconstruction of companies with in-orbit processing capabilities among the index constituents. The Ping An CSI Satellite Industry Index (025491) is capturing the valuation premium brought by this paradigm shift through deep allocation in core payload components and high-computing-power chip targets.
II. Core Holdings Penetration: Locking onto the "High-Value" Links of Hardware Iteration
The holdings matrix of the Ping An CSI Satellite Industry Index (025491) precisely targets core payload components and RF chip targets.
Domestic Substitution of RF Chips: Private enterprise targets in the holdings, such as Zhenlei Technology (4.91%), not only contribute significant excess returns with their technological reserves in the RF chip field but also play an indispensable role in enhancing payload computing power.
Business Model Upgrade of Geoinformation Targets: With the proliferation of in-orbit computing hardware, the application of AI large models in spatial information processing has accelerated the commercialization process of the remote sensing industry. For example, remote sensing and geoinformation targets like Zhongke Xingtu (5.54%) are transitioning from mere "raw material suppliers" to "decision support services." This migration towards high-margin segments of the industry chain endows the index constituents with stronger endogenous growth momentum.
III. "AI + Satellite": Cross-Border Resonance of Data Element Value
In 2026, the integration of space computing power and artificial intelligence is catalyzing the "second growth curve" of the satellite industry.
Order-of-Magnitude Improvement in Data Processing Efficiency: In-orbit AI applications shorten the time window from remote sensing data acquisition to application to the minute level, greatly expanding commercial scenarios such as disaster warning and precision agriculture.
Long-Term Valuation Resilience: This narrative extending from single hardware manufacturing to data services provides the CSI Satellite Industry Index (931594.CSI), tracked by the Ping An CSI Satellite Industry Index (025491), with a more resilient valuation logic, making it not just an infrastructure target but also an extension of the computing infrastructure track.
IV. Conclusion
Entering 2026, China's commercial aerospace industry has witnessed a historic upgrade in its top-level architecture. The official operation of the Commercial Aerospace Department under the China National Space Administration marks the industry's transformation from early-stage institutional research extensions to a pillar of new quality productivity, now guided by national top-level planning and deeply involved in marketization.
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