今年第一批IPO企业现场检查名单公布，蓝箭航天在列

Core Viewpoint - Blue Arrow Aerospace has been selected for on-site inspection as part of the first batch of companies for initial public offering (IPO) checks in 2026, indicating regulatory scrutiny as it moves towards its IPO [1] Company Overview - Blue Arrow Aerospace, founded in 2015 and headquartered in Beijing, focuses on the research, development, and production of liquid oxygen-methane engines and launch vehicles, aiming to establish a comprehensive aerospace technology ecosystem [3] - The company plans to raise 7.5 billion yuan through its IPO, with funds allocated for enhancing reusable rocket production and technology [4][5] Financial Performance - Blue Arrow Aerospace reported revenues of 780,000 yuan, 3.95 million yuan, 4.27 million yuan, and 36.43 million yuan for the years 2022 to the first half of 2025, respectively, while incurring net losses of 800 million yuan, 1.188 billion yuan, 876 million yuan, and 597 million yuan during the same period [3] - The company has maintained high R&D expenditures, totaling approximately 2.29 billion yuan over three and a half years [3] IPO Process - As of December 31, 2025, Blue Arrow Aerospace's IPO status was changed to "accepted" by the Shanghai Stock Exchange, with China International Capital Corporation (CICC) as the sponsor [2] - The company signed a counseling agreement with CICC on July 25, 2025, and received acceptance for its counseling filing on July 29, 2025 [2] Industry Context - Blue Arrow Aerospace is among five domestic commercial aerospace companies focused on launch vehicles that have initiated IPO processes, indicating a competitive landscape in the commercial space sector [6] - The China Securities Regulatory Commission (CSRC) conducts on-site inspections to ensure compliance with IPO requirements, enhancing the quality of information disclosure by companies [6]