In-Depth Analysis of Tongyu Communication (002792) Limit-Up: Satellite Internet Layout and Commercial Aerospace Track Opportunities

This analysis is based on Tushare’s limit-up pool data [0]. Tongyu Communication (002792) hit the limit-up on November 28, 2025. Core reasons include its full-chain layout in the satellite internet field and deep participation in the commercial aerospace track, while benefiting from national policy support. Although the Q3 net profit was still in loss, the long-term industrial growth potential is worth attention.

Tongyu Communication’s main business is antenna and communication equipment manufacturing [3]. Recently, it accelerated its layout in the commercial aerospace track by increasing capital in aerospace business with 120 million yuan [1][5]. The 2025 Q3 financial report shows that the operating revenue was 134.5871 million yuan, but the net profit was a loss of 87.5710 million yuan [2]. The company has formed a ‘star-ground-end’ full-chain advantage in the satellite internet field [6], including investing in and holding shares in Beijing Lingkong Tianxing Technology, Hongqing Technology (a subsidiary of Landspace), and Shanghai Yuanxin [4][5], participating in the construction of the G60 Constellation [4], and its products are compatible with international systems such as Starlink [6]. At the national level, the Ministry of Industry and Information Technology has issued multiple policies to support the development of the satellite communication industry [7][8], and the industry is growing rapidly [9][10].

1. Policy & Enterprise Layout Synergy
   : National policies (7,8) provide dividends for the satellite internet industry, and Tongyu Communication’s early layout (4,5,6) makes it expected to seize industry growth opportunities.
2. Full-chain Advantage
   : The ‘star-ground-end’ layout (6) has built a competitive barrier, and it has long-term competitiveness against the background of the accelerated development of the low-orbit satellite industry (10).
3. Short-term & Long-term Balance
   : Although the short-term financial performance is not good (2), the industrial trend (9) and the company’s strategic layout (4,5) point to long-term value.

• Risk
  : Q3 net profit loss [2], large short-term stock price fluctuations [0], need to be alert to changes in market sentiment.
• Opportunity
  : The satellite internet industry has entered a rapid development period [9][10], policy support continues [7][8], and the company’s full-chain layout (6) is expected to be converted into performance growth.

Tongyu Communication’s limit-up reflects the market’s recognition of its satellite internet and commercial aerospace layout. Investors should comprehensively consider the short-term financial situation, stock price fluctuation risks, and long-term industrial growth potential, and make decisions rationally.