CITIC Securities: China SatNet Completes First In-Orbit Cross-Polar Communication Trial; Satellite Internet Commercialization Accelerates

36Kr reports that a recent CITIC Securities research note highlighted the successful completion of China SatNet's GW constellation in its first cross-polar in-orbit communication trial. The 'Xuelong' expedition ships and China's Aitken Station at Antarctica achieved two-way video links between four nodes spanning both poles, with latency under one second and peak uplink/downlink speeds of approximately 30Mbps. All data transmission bypassed foreign nodes, marking a milestone in achieving full-link autonomous control for polar communications. Leveraging the GW-A59/A2 multi-layer orbital layout, Ka-band broadband payloads, and inter-satellite laser links, the trial overcame coverage blind spots above 75° latitude that GEO satellites cannot reach. In the short term, upstream segments such as Ka payloads, laser terminals, and phased array antennas are poised for scaled cost reductions. Medium-term value will shift from network construction to utilization, benefiting ground terminals, direct-to-cellphone technology, industry-specific networks, and operational services. Key areas to watch include: 1) Rocket segment: high-barrier fields like engines and airframe structures; 2) Satellite segment: payloads, antennas, and laser communication terminals; 3) Ground equipment: consumer terminals and direct-to-cellphone technology; 4) Operational services: companies with scarce licensing qualifications.