朱雀三号首飞入轨、可回收失败，投资人称不会影响上市申报

Core Viewpoint - The successful launch of the Zhuque-3 rocket marks a significant milestone in China's commercial space industry, despite the failure of the first stage recovery, which does not hinder the company's plans for an IPO [3][4]. Group 1: Launch Details - The Zhuque-3 rocket was launched on December 3, 2025, completing its flight mission with the second stage entering the designated orbit, while the first stage recovery failed due to an anomaly during landing [3]. - The rocket is designed for large constellation networking tasks, with a target of at least 20 reuses and a near-Earth orbit carrying capacity of no less than 18 tons [3]. Group 2: Industry Impact - The launch represents the first domestic integration of a nine-engine parallel liquid oxygen-methane propulsion system, showcasing advancements in technology [4]. - Despite the recovery failure, the successful launch is expected to accelerate satellite networking processes and alleviate previous pressures faced by satellite operators [4]. - The company plans to analyze the data from this mission to improve recovery technology and continue validating reusable rocket technology in future missions [4].