On June 14, CITIC Construction reported that SpaceX made its market debut on Nasdaq with an impressive valuation of $1.75 trillion, securing $75 billion in capital. On its very first day of trading, the company’s market capitalization soared past $2 trillion, securing its position as the seventh-largest technology firm worldwide and breaking the record for the largest initial public offering (IPO) in history. SpaceX’s three core business areas—Starlink, reusable rockets, and space-based artificial intelligence—have now successfully demonstrated their commercial viability, driving forward the commercialization of the space economy. Looking ahead, it is anticipated that by 2026, China will witness a series of intensive first flights and recovery tests for multiple liquid-fueled rockets. These developments are expected to substantially lower launch costs and accelerate the deployment of satellite constellations. Key sectors to monitor include: 1) Rocket technology: High-entry-barrier areas such as engine development and rocket body design; 2) Satellite technology: Payload systems, antennas, and laser communication terminals; 3) Ground equipment: Civilian satellite terminals and direct-to-phone communication solutions; 4) Operational services: Firms possessing rare and valuable licensing qualifications.