Core Viewpoint - Jiangsu Tianbing Aerospace Technology Co., Ltd. (Tianbing Technology) is advancing in the commercial aerospace sector with significant achievements in liquid rocket engine development and large-scale liquid launch vehicles, recently completing a successful financing round to support its growth [1][3]. Group 1: Company Overview - Tianbing Technology is recognized as a leading high-tech enterprise in China's commercial aerospace field, focusing on the development of next-generation liquid rocket engines and medium to large liquid launch vehicles [1]. - The core team of Tianbing Technology consists of experienced industry experts, with an average age of 38 years, 67% holding senior titles, and 95% possessing master's degrees or higher [1]. Group 2: Recent Achievements - In April 2023, Tianbing Technology's self-developed Tianlong-2 medium liquid launch vehicle successfully completed its maiden flight, marking it as the first private liquid rocket company globally to achieve this milestone in over 20 years [1]. - In September 2023, the company conducted a successful full-system sea test of the Tianlong-3 large liquid launch vehicle's first-stage power system, setting a new domestic record for liquid rocket engine thrust [1]. Group 3: Market Position and Future Prospects - The Tianlong-3 rocket is expected to achieve over 20 tons of near-Earth orbit capacity, comparable to SpaceX's Falcon 9, and is designed to meet the demand for low-cost, high-reliability satellite internet launches [2]. - Tianbing Technology has established a comprehensive industrial chain for rocket research, large-scale manufacturing, and dedicated launch facilities, aiming for an annual production capacity of 50 Tianlong series rockets and 500 Tianhu series engines [2]. Group 4: Financing and Investment - On October 9, 2023, Tianbing Technology announced the completion of nearly 2.5 billion RMB in Pre-D and D round financing, involving several well-known institutions, to support the mass production of rockets and engines and further technological advancements [3]. - The controlling shareholder of Tianbing Technology is Kang Yonglai, holding a direct stake of 23.49% [4].