SHANGHAI FUDAN (01385) saw its shares surge more than 13% at one point during the trading session. As of the time of writing, the stock was up 10.6%, trading at HK$48, with a turnover of HK$497 million. The surge is driven by recent intensive catalysts in the commercial aerospace sector. Huaxi Securities believes that with the promotion of national top-level design and related supportive policies, China's low Earth orbit satellite industry is expected to accelerate its development, and related companies in the industrial chain will benefit significantly. Guotai Haitong Securities previously pointed out in a research report that satellite manufacturing, launch, and network deployment involve highly complex scientific and technical disciplines, placing extremely high demands on chip stability, durability, and resistance to cosmic radiation. FPGA chips have always been standard equipment for space satellites. From December 16 to 19, Fudan Microelectronics responded to investor inquiries, stating that an FPGA is a hardware-reconfigurable integrated circuit chip characterized by high flexibility, high parallelism, and low latency. In fields requiring frequent iterative upgrades or demanding low-latency performance—such as wired and wireless communications, low Earth orbit satellite communications, video imaging, industrial control, artificial intelligence, and specialized high-reliability applications—FPGAs are an ideal solution. The company is a domestic technology leader in high-end FPGAs.