星河动力冲刺上市 “火箭”股集体蹿升

Core Viewpoint - The commercial aerospace sector in China is experiencing a surge in interest and investment, with multiple private rocket companies preparing for IPOs, driven by supportive government policies and significant capital inflows [1][5]. Group 1: Market Dynamics - On October 24, stocks of commercial aerospace companies such as Aerospace Changfeng and Aerospace Science and Technology reached their daily limit, indicating strong market enthusiasm [1]. - The China Securities Regulatory Commission announced that Beijing Xinghe Power Aerospace Technology Co., Ltd. has submitted its IPO guidance, marking a significant step in the commercialization of private rockets [1][5]. - A total of five private rocket companies, with a combined valuation exceeding 855 billion yuan, are now in the IPO preparation phase, intensifying competition for the title of "first private rocket stock" [1][6]. Group 2: Company Profiles - Beijing Xinghe Power, established in 2018, has developed solid and reusable liquid rockets, with its "Gushenxing" series being the first to transition from experimental to commercial production in China [4]. - The company achieved a record-breaking 2.4 billion yuan in Series D financing in September, raising its post-money valuation to between 15 billion and 15.8 billion yuan [4]. - Other companies in the IPO pipeline include Tianbing Technology, Blue Arrow Aerospace, and Star Glory, with valuations of 225 billion, 220 billion, and 150 billion yuan respectively [2][6]. Group 3: Competitive Landscape - Xinghe Power leads the private rocket sector with a 51.3% success rate in domestic launches, having successfully launched 85 commercial satellites for 27 clients [8]. - The competitive landscape is evolving, with other companies like Blue Arrow Aerospace and Tianbing Technology also making significant strides in securing commercial contracts [8]. - The upcoming launches of reusable rockets by several companies, including Xinghe Power and Tianbing Technology, are expected to further stimulate investment interest in the commercial aerospace sector [8].