Deep Analysis of Tongyu Communication (002792) Strong Performance: Dual Drivers from Aerospace Investment and Satellite Communication Business

This analysis is based on the event that Tongyu Communication (002792) recently entered the strong stock pool [0], combined with the company’s strategic layout, fundamentals, and industry dynamics. The core driving factors include: 1) 120 million yuan strategic investment in the aerospace sector [0][2]; 2) Satellite communication business revenue increased by 2.59% year-on-year [0][5]; 3) Sound fundamentals: revenue in the first three quarters was 815 million yuan, and operating cash flow improved by 206.21% [0][6]; 4) Analysts predict a compound annual growth rate of more than 30% in net profit from 2025 to 2027 [0].

• Strategic Layout
  : The company announced a 120 million yuan investment in the aerospace sector [0][2], strengthening the dual-driver strategy of “communication antennas + satellite communication” [0][8];
• Business Growth
  : Satellite communication business revenue was 26.0808 million yuan [0][5], deeply participating in the top three domestic satellite constellation projects [0];
• Fundamental Support
  : First-half revenue was 533 million yuan, with net profit attributable to parent company of 21.7860 million yuan [0][5]; first-three-quarter revenue was 815 million yuan, operating cash flow improved by 206.21% year-on-year [0][6];
• Technical Advantages
  : Has more than 700 patents in the RF communication field [0], and is in the first echelon of the base station antenna industry [0].

Satellite Internet concept stocks have gained popularity [3][10], and the company was ranked among the top 20 in the satellite Internet concept stock list [0][3], benefiting from the rapid development trend of the industry [0][8][10].

• Cross-domain Synergy
  : Communication antenna technology accumulation provides core competitiveness for satellite communication business [0][8];
• Long-term Value
  : Full low-orbit constellation layout and 6G pre-research bring long-term growth space for the company [0][8];
• Overseas Expansion
  : MacroWiFi products have obtained certifications in more than ten countries, with huge potential in overseas markets [0].

• Industry Competition
  : Intensified competition in the satellite communication sector [0];
• Implementation Risk
  : Uncertainty in the implementation progress of new businesses (aerospace, satellite communication) [0].

• Policy Dividends
  : Increased policy support for the satellite Internet industry [3][10];
• Technology Iteration
  : 6G pre-research layout to seize the future technological high ground [0][8];
• Overseas Market
  : MacroWiFi product overseas certification acceleration, orders are expected to increase in volume [0].

Tongyu Communication (002792) has achieved strong performance relying on aerospace sector investment and satellite communication business growth, with sound fundamentals, outstanding technical advantages, and clear long-term growth logic. Analysts predict that the net profit attributable to parent company from 2025 to 2027 will be 121 million yuan, 148 million yuan, and 217 million yuan respectively [0], corresponding to EPS of 0.23 yuan/share, 0.28 yuan/share, and 0.41 yuan/share [0].