“航天界拼多多”来了：天仪空间完成IPO辅导备案，系中国SAR卫星星座运营商

Core Viewpoint - Tianyi Space has completed its IPO counseling filing, positioning itself as a leading operator of SAR (Synthetic Aperture Radar) satellite constellations in China, known for its cost-effective satellite development, earning the nickname "Pinduoduo of the aerospace industry" [1][9]. Group 1: IPO Counseling Process - Tianyi Space signed a counseling agreement with Guotai Junan Securities on January 27, 2026, with a structured counseling plan divided into four phases from January to June 2026 [2][9]. - The first phase (January to February 2026) involves reviewing the legality and compliance of Tianyi Space and its subsidiaries, verifying the independence of its assets, business, personnel, and finances, and outlining feasible fundraising projects [2][9]. - The second phase (February to March 2026) focuses on training in legal regulations, internal controls, information disclosure, and corporate governance, as well as improving decision-making systems [2][9]. - The third phase (March to April 2026) includes reviewing revenue recognition methods, verifying shareholder holdings, and conducting external checks on upstream and downstream clients and suppliers [2][10]. - The final phase (May to June 2026) will assess whether Tianyi Space meets the conditions for application [3][10]. Group 2: Company Ownership and Structure - Tianyi Space was established on May 18, 2015, with a registered capital of 50 million yuan, and is controlled by its founder Yang Feng, who holds a total of 30.15% of the shares [4][11]. - Yang Feng directly owns 9.72% of the shares and indirectly controls an additional 20.43% through employee stock ownership platforms and agreements with co-founder Ren Weijia [4][11]. - The company has successfully completed 21 space missions, launching China's first batch of commercial SAR satellites, including "Haisi No. 1," "Chao Lake No. 1," "Fucheng No. 1," "Shenqi No. 01," and "Shenqi No. 02," totaling 38 satellites [11][13]. Group 3: Company Evolution - As of December 12, 2025, Tianyi Space transitioned from a limited liability company to a non-listed joint-stock company, changing its name from "Changsha Tianyi Space Technology Research Institute Co., Ltd." to "Tianyi Space Technology Co., Ltd." [6][13]. - The core team comprises members from aerospace technology and industry, including international talent, who have participated in nearly a hundred domestic and international aerospace projects [13].