又一商业火箭企业，完成IPO辅导！

Core Viewpoint - Zhongke Aerospace has completed its IPO guidance work and is positioned as a leading commercial rocket company in China, focusing on the development of medium and large launch vehicles, commercial satellite launches, and suborbital vehicles [1][2]. Group 1: Company Overview - Zhongke Aerospace was established in December 2018 and is a high-tech enterprise incubated by the Institute of Mechanics, Chinese Academy of Sciences [1]. - The company's main products include the "Lijian" series of launch vehicles, with the "Lijian No. 1" solid rocket having a payload capacity of 1.5 tons, the highest among domestic commercial rockets [1]. - The "Lijian No. 2" rocket has completed assembly and is entering the testing phase [1]. Group 2: IPO Progress - Zhongke Aerospace is the first commercial rocket company to initiate an IPO process under the fifth set of standards for the Sci-Tech Innovation Board [2]. - The Shanghai Stock Exchange issued guidelines for commercial rocket companies in December 2025, providing a clear path for IPO applications [2]. - Other commercial rocket companies, including Blue Arrow Aerospace and Tianbing Technology, have also begun their IPO processes, indicating a trend in the industry [2]. Group 3: Cost Reduction and Technology - The current launch price for Zhongke Aerospace's solid rockets is approximately 60,000 to 70,000 yuan per kilogram, but future developments, particularly with the "Lijian No. 2" liquid rocket, could reduce costs to over 20,000 yuan per kilogram [3]. - The ability to reuse rockets is seen as a critical factor in reducing launch costs, which is a significant challenge for the domestic rocket industry [3]. - The industry anticipates that by 2026, the exploration and verification of rocket recovery technology will enter a high-density testing phase, marking a new era of low-cost rocket launches in China [4].