一年亏损1.8亿元，国内首家商业火箭公司拟易主！要求转让后摘掉“航天科工”招牌

Core Viewpoint - The transfer of a 29.5904% stake in Aerospace Science and Industry Corporation Rocket Technology Co., Ltd. (referred to as "Kegong Rocket") is being offered for approximately 3.3 billion yuan, with the seller being China Aerospace Sanjiang Group Co., Ltd. [1][3] Group 1: Transaction Details - The stake transfer price is set at 329,985,000 yuan, with a disclosure period of no less than 20 working days from the announcement date [2] - The current ownership structure shows that Aerospace Sanjiang holds 56.4347% of Kegong Rocket, which will decrease to 26.8443% post-transaction [3] Group 2: Company Background and Performance - Kegong Rocket, established in February 2016, is China's first specialized rocket company operating under a commercial model, with its main active rockets being the solid rockets "Kuaizhou-1A" and "Kuaizhou-11" [5] - The company has faced poor performance, reporting revenues of 63.81 million yuan in 2024 and a net loss of approximately 180 million yuan; for the period from January to November 2025, revenues were 67.36 million yuan with a net loss of about 136 million yuan [5] - As of November 30, 2025, Kegong Rocket's total assets were 3.033 billion yuan, and total liabilities were 472 million yuan [5] Group 3: Market Competition and Challenges - The solid rocket launch market is highly competitive, with domestic private aerospace companies achieving breakthroughs in both technology and market presence [5] - Kegong Rocket's "Kuaizhou-1A" has a near-Earth orbit carrying capacity of 450 kg, while competitors like "Lijian-1" and "Yinli-1" have capacities of 2 tons and 6.5 tons, respectively [5] - The shift towards larger payloads and reusable rocket technology poses significant challenges for Kegong Rocket, which primarily focuses on solid rockets [5][6] Group 4: Future Prospects - Kegong Rocket is developing a new series of liquid oxygen-methane rockets, with a reusable technology test vehicle having completed vertical landing tests in 2024, although progress lags behind competitors [6] - The company has previously considered an IPO and was listed as a "seed enterprise" for the Science and Technology Innovation Board in Hubei Province, but its actual progress has fallen behind peers [6]