Analysis of Tongyu Communication (002792) Strong Performance: Driven by Private Placement Plan and Industry Tailwinds

As a leading enterprise in China’s base station antenna field, Tongyu Communication (002792) has shown strong performance recently due to multiple factors [0]. The company announced a 1.2 billion yuan private placement plan, leading to a single-day stock price increase of 6.26% [0]. Its revenue in the first three quarters of 2025 reached 815 million yuan, with satellite communications and special scenario antenna businesses becoming new growth drivers [5]. At the industry level, 5G-A/6G technology upgrades, satellite internet construction, and the explosion of AI computing power demand constitute multiple tailwinds [8,9]. Policy-wise, the continuous intensification of the “Eastern Data and Western Computing” project and 6G construction provides deterministic support for the communication equipment industry [7]. The sector rotation effect is obvious, with funds shifting from traditional sectors to technology growth sectors [0].

1. Cross-domain Correlation
   : The explosion of AI computing power has driven the overall rise of the communication equipment sector. Tongyu Communication’s layout in cutting-edge fields such as millimeter-wave antennas and optical modules makes it directly benefit [9].
2. New Growth Engine
   : Satellite communication business has become the company’s core growth driver, contributing significant revenue growth in the first three quarters of 2025 [5].
3. Policy and Technology Resonance
   : 6G construction and the “Eastern Data and Western Computing” policy promote the long-term development of the industry, and the company’s technical reserves put it in a competitive advantage position [7,8].

• The communication equipment industry benefits from three major trends: AI computing power, 6G, and satellite internet, with broad market space [8,9];
• The company’s leading layout in core technology fields will continue to translate into performance growth [0].

• There is uncertainty in the execution progress of the private placement plan, which may affect the pace of project implementation [0];
• The communication equipment sector has a high risk of short-term fluctuations, so attention should be paid to changes in capital flows [1];
• Intensified competition in emerging fields may squeeze profit margins [2].

Tongyu Communication’s strong performance is the result of the combined effect of internal strategies (private placement plan, new business expansion) and external environment (industry trends, policy support). As a leading communication equipment company, its layout in cutting-edge fields such as 5G-A/6G and satellite communications lays the foundation for long-term development, but attention should be paid to short-term market fluctuations and competition risks.