China Aerospace "Profiling 11 commercial space companies in China" Li

研报英文原文证据摘录

China Aerospace "Profiling 11 commercial space companies in China" Li

Global Research

17 June 2026ab

China Aerospace Equities

ChinaProfiling 11 commercial space companies in

China Industrial

Kunlun Li

Analyst

kunlun.li@ubs.com

Profiling China's commercial space startups +86-21-3866 8894

Alongside our China commercial space note, "China Commercial Space 101", we Robin Xu

introduce 11 private commercial space companies in China, comprising five rocket Analyst

developers, three satellite companies, two space-computing players and one engine S1460511010012

manufacturer. bin.xu@ubs.com

+86-21-3866 8872

Rockets and satellites: seven IPOs ahead as regulators ease listing requirements Grace Wang

Rocket development is highly capital-intensive, requiring substantial upfront R&D Analyst

investment with a lengthy cash-burn cycle. Acknowledging this, the Chinese regulator S1460525030001

relaxed listing requirements for commercial rocket companies in 2025 December, grace-zb.wang@ubs.com

+86-21-3866 8857clarifying that such firms are eligible for the fifth set of STAR Market listing standards,

which do not impose minimum revenue or net profit thresholds. Instead, they must Zed Sheng

achieve key milestones such as the successful launch of a medium- or large-lift vehicle Analyst

featuring reusable technology into orbit. We hence profile five domestic rocket S1460525030003

companies (Landscape, Space Pioneer, Galactic Energy, i-Space and CAS Space) and two zed.sheng@ubs.com

+86-21-3866 8730

satellite companies (GalaxySpace, MinoSpace), all of which have either filed IPO

applications or are in the IPO counselling stage. We also profile one rocket-engine

company (Jiuzhou).

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