Analysis of Tongyu Communication (002792)'s Strong Performance: Dual Drivers from 5G Infrastructure and Commercial Aerospace

Tongyu Communication (002792)‘s strong performance stems from the dual drivers of 5G infrastructure and commercial aerospace [0]. In terms of 5G, China plans to build over 4.5 million base stations in 2025 [0], with 4.25 million currently in operation [4], user count exceeding 1 billion [0], and operators’ expected mobile capital expenditure from 2024 to 2030 reaching 219 billion US dollars [0], providing a broad market for the company’s 5G antenna business. In terms of commercial aerospace, the company announced an investment of 120 million yuan in related project development [2], laying out in emerging growth areas. At the policy level, Beijing aims to achieve full large-scale application of 5G by 2027 [6], further strengthening long-term growth expectations.

The company’s strategic layout benefits from two policy-supported areas: 5G (mature and high-growth) and commercial aerospace (emerging potential) [0], forming business complementarity and risk diversification. The continuous advancement of 5G infrastructure and the industrialization process of commercial aerospace provide dual growth drivers for the company [0].

The accelerated expansion of 5G base station construction and policy dividends in the commercial aerospace industry bring significant growth space for the company [0,4,6].

Need to pay attention to the potential impacts of intensified competition in the 5G antenna market, technical implementation risks of commercial aerospace projects, and policy changes on both fields [0].

Tongyu Communication (002792)'s strong performance has solid fundamental support. The deterministic growth of 5G infrastructure and strategic layout in commercial aerospace jointly promote the company’s value enhancement [0]. Investors should pay attention to the progress of the two business segments and related policy dynamics [0].