上交所发布商业火箭企业适用科创板第五套上市标准

Core Viewpoint - The Shanghai Stock Exchange has issued guidelines to support the listing of high-quality commercial rocket companies on the Sci-Tech Innovation Board, particularly those that have not yet achieved significant revenue, by refining the fifth set of listing standards for these companies [1][2]. Group 1: Business Scope and Technology Requirements - The guidelines specify that the main business scope for commercial rocket companies includes the independent research, development, manufacturing, and provision of space launch services, emphasizing the "hard technology" attributes of the issuer [1]. - Companies must demonstrate significant advantages or breakthroughs in key core technologies, focusing on the independent research and development of core technology products and key components, as well as advanced technical metrics such as payload capacity and multi-satellite launch capability [2]. Group 2: Milestones and Approvals - Commercial rocket companies must achieve at least one successful launch of a medium to large payload using reusable technology before applying, with no significant adverse technical issues affecting future launch tasks [2]. - Companies are required to possess relevant research and manufacturing qualifications and must obtain launch permits prior to commercial rocket launches [2]. Group 3: Industry Position and Market Space - The guidelines require that commercial rocket companies rank among the top in their field, hold an important position in the industry chain, and receive high recognition from relevant market entities, with investment from experienced professional institutions being a key consideration [2]. - The business or products of the issuer must have a clear target market, possess a first-mover advantage over competitors, and be ahead in terms of research and development progress and key indicators [2]. Group 4: Commercialization Arrangements - Issuers must establish clear and feasible commercialization plans for their commercial rocket business or products, ensuring that there are no significant adverse impacts on the expected commercialization of their main business or products [2].