星河动力谷神星一号发射失败，上月公司刚启动IPO上市辅导

Core Viewpoint - Beijing Xinghe Power Aerospace Technology Co., Ltd. (Xinghe Power) faced a launch failure of its Vesta-1 (Remote 19) rocket on November 10, 2023, which did not successfully place its satellite into orbit, marking a setback during a critical period for its A-share IPO preparation [1][2]. Group 1: Launch Failure Details - The Vesta-1 rocket experienced normal flight for its first three stages, but the fourth stage encountered an anomaly and shut down prematurely after 510 seconds, resulting in mission failure [1]. - This incident is not the first for Xinghe Power; a previous launch on September 21, 2023, also failed due to instability caused by an engine component defect [4]. Group 2: Company Performance and Market Position - Despite the recent setbacks, Xinghe Power is one of the leading private rocket companies in China, having completed 22 launch missions with a success rate of approximately 90.9%, successfully placing 85 satellites into orbit [4]. - The company accounts for about 51.3% of the total successful launches in the domestic private rocket sector [4]. Group 3: IPO and Financing Activities - The launch failure occurred shortly after Xinghe Power initiated its IPO counseling process in late October 2023 [5]. - In September 2023, the company completed a record-breaking D-round financing of 2.4 billion yuan, marking the highest single financing amount for a private rocket company in China to date [6]. - Since its establishment in 2018, Xinghe Power has raised over 5.3 billion yuan and was valued at 15 billion yuan by the end of last year [6]. Group 4: Industry Trends - The recent launch failure highlights the challenges faced by the commercial space sector, which is currently experiencing a wave of IPO activities among several leading private rocket companies [5][7]. - The regulatory environment has become more favorable for commercial space enterprises, with new rules allowing unprofitable tech companies to list on the STAR Market, prompting a surge in IPO preparations [7].