Analysis of Tongyu Communication (002792) Strong Performance: Driven by Commercial Aerospace Layout and Policy Tailwinds

This analysis is based on tushare_strong_pool data. Tongyu Communication (002792) recently entered the strong stock pool. Key points: Driven by its indirect investment in hypersonic missile manufacturer Lingkong Tianxing [1][2] and favorable commercial aerospace policies [6], the company saw a maximum increase of 29.8% within 4 trading days [0]; on November 27, the main funds had a net purchase of 187 million yuan [4], indicating increased market attention; in the first three quarters, revenue reached 815 million yuan, and operating cash flow increased by 206.21% year-on-year [10], with solid fundamentals; actively deploying 5.5G/6G antennas and satellite internet fields, building a “ground + satellite” dual-drive model [7].

The strong performance of Tongyu Communication is driven by multiple factors:

1. Policy Tailwinds
   : China National Space Administration issued the “Action Plan for Promoting High-Quality and Safe Development of Commercial Aerospace (2025-2027)” [6], providing policy guarantees for the industry and driving the collective surge of the sector [3].
2. Strategic Layout
   : The company has accumulated 120 million yuan to set up an industrial fund, specifically investing in Beijing Lingkong Tianxing Technology [7], involving hypersonic missiles and commercial aerospace fields [1][2]; at the same time, it is deploying satellite-borne antennas, ground terminals, and integrated networking technologies, with products entering the low-orbit satellite supply chain and obtaining overseas orders [0].
3. Capital Inflow
   : On November 27, the main funds had a net purchase of 187 million yuan, accounting for 15.48% of the day’s turnover [4], showing obvious favor from institutional funds.
4. Fundamental Support
   : In the first three quarters, revenue reached 815 million yuan, with satellite communication and special scenario antenna businesses gaining momentum [10]; operating cash flow increased significantly year-on-year, indicating improved financial conditions [0].

• Cross-domain Collaboration
  : The company is transforming from traditional base station antennas to cutting-edge fields such as satellite communication and 6G, seizing the “ground + satellite” integration trend [0], and cooperating with enterprises like Huawei to enhance technical competitiveness [0].
• Policy Window Period
  : The release of the three-year action plan for commercial aerospace is expected to continue to promote industry development, and the company, as a pioneer, is expected to benefit [6].
• International Market Breakthrough
  : MacroWiFi products passed SpaceX interface certification, realizing satellite direct connection to the internet function, and completing tests in multiple countries [0], opening up overseas market space.

• Risks
  : Short-term stock price has risen sharply, which may have correction pressure [0]; the commercial aerospace field has a long technology research and development cycle and large investment, with uncertainties [6]; intensified industry competition may affect profit margins [0].
• Opportunities
  : High growth expectations of the industry under policy support [6]; order growth brought by the expansion of the satellite internet market scale [3]; potential benefits from the expansion of hypersonic technology application scenarios [1].

The strong performance of Tongyu Communication (002792) is the result of the combined effect of policies, strategies, capital, and other factors. The company’s commercial aerospace layout and technical accumulation lay the foundation for long-term development, but short-term investors need to pay attention to market volatility risks. Solid fundamentals and policy dividends provide a good development environment for the company. It is recommended to pay attention to the follow-up order landing and technical breakthrough progress [0].