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Chasing SpaceX, A Super IPO is Coming - 36Kr
Commercial spaceflight, is the IPO wave coming?
TL;DR
- LandSpace has restarted its IPO process and successfully conducted tests for its reusable "Zhuque-3" rocket.
- The company's revenue increased significantly from 2022 to 2025, but it also incurred substantial net losses due to R&D expenses.
- LandSpace has attracted a large number of investors, leading to a valuation exceeding 20.6 billion yuan.
- The company was founded in 2015 by Zhang Changwu, Wang Jianmeng, and Wu Shufan, focusing on liquid-propellant rockets.
- LandSpace's "Zhuque-2" rocket became the world's first liquid oxygen-methane rocket to successfully reach orbit.
- CAS Space, another key player, has successfully launched 14 rockets and sent 107 satellites into orbit, aiming for cost-competitiveness with SpaceX.
- The Chinese government is actively supporting the commercial space sector's growth and listing ambitions through policy adjustments.
- Over 10 companies in the domestic commercial space industry chain have initiated IPO processes, including satellite manufacturers and aerospace measurement and control service providers.