航天科工火箭公司控制权挂牌转让 整体估值112亿元

Core Viewpoint - The control of China Aerospace Science and Industry Corporation's rocket technology subsidiary, Aerospace Science and Industry Rocket Technology Co., Ltd. (referred to as "Aerospace Rocket"), is officially up for transfer, with a stake of 29.5904% being offered at a base price of approximately 3.3 billion yuan, valuing the company at around 11.2 billion yuan [1][2]. Group 1: Company Overview - Aerospace Rocket is primarily engaged in the research and production of solid launch vehicles, reusable liquid launch vehicles, and orbital spacecraft [1]. - The company developed China's first vehicle-mounted solid launch vehicle, marking an expansion from liquid to solid launch vehicles in China's aerospace capabilities [1]. - Established in February 2016, Aerospace Rocket successfully launched its first commercial space mission in January 2017, completing the "one arrow, three stars" launch service [2]. Group 2: Ownership and Financials - As of now, Aerospace Sanjiang Group holds 56.43% of Aerospace Rocket's shares, which will decrease to 26.84% post-transfer [2]. - For the fiscal year 2024, Aerospace Rocket reported revenues of 63.8078 million yuan and a loss of 180 million yuan; in the first 11 months of 2025, revenues were 67.3565 million yuan with a loss of 136 million yuan [3]. - As of November 2025, the company's total assets were 3.033 billion yuan, with owner equity at 2.561 billion yuan [3]. Group 3: Industry Context - In 2025, China completed 87 space launches, with 23 of these conducted by private commercial rocket companies, successfully placing 324 satellites into orbit [3]. - The year 2025 is recognized as the "capital year" for China's commercial aerospace sector, with total industry financing reaching 18.6 billion yuan, a 32% increase year-on-year, comprising 67 financing rounds [3]. - The commercial aerospace sector has attracted significant capital market interest, with several companies, including Blue Arrow Aerospace, entering the IPO process in 2025 [3].