商业航天领域近半月内的第三家，中科宇航启动上市辅导

Core Viewpoint - The recent surge in IPO applications from commercial space companies in China, including Beijing Zhongke Aerospace Technology Co., Ltd. (Zhongke Aerospace), is driven by supportive policies from regulatory bodies aimed at promoting the commercial space sector [1][2]. Group 1: Company Overview - Zhongke Aerospace, founded in December 2018, is the first mixed-ownership commercial rocket enterprise incubated by the Chinese Academy of Sciences, focusing on medium to large rocket development, customized space launches, suborbital scientific experiments, and space tourism [2]. - The company has established a comprehensive "design-test-production-launch" system and possesses unique facilities for both solid and liquid rockets, as well as satellite technology [2]. - Zhongke Aerospace's "Lijian-1" solid launch vehicle successfully completed its maiden flight in July 2022, marking a significant milestone in China's private space sector [2]. Group 2: Financial Performance - The company is experiencing significant short-term losses due to high R&D expenditures, with projected revenues of 243 million yuan and a net loss of 748 million yuan for 2024 [3]. - In the first half of 2024, Zhongke Aerospace reported revenues of 36.24 million yuan and a net loss of 31.1 million yuan, indicating slight improvement in operational conditions [3]. - The company has completed eight rounds of financing, with a C round raising 600 million yuan in 2023 and a C+ round of 60 million yuan in 2024, leading to a substantial increase in registered capital [3]. Group 3: Market Position and Valuation - Zhongke Aerospace holds the largest market share in the commercial rocket launch service sector in China, having launched 63 satellites with a total payload exceeding 6 tons [2][3]. - The company is currently valued at over 10 billion yuan, as indicated by a recent share transfer project [3]. - As of 2025, Zhongke Aerospace's valuation has reached 11 billion yuan, according to the Hurun Global Unicorn List [3].