Core Viewpoint - Beijing Xinghe Power Aerospace Technology Co., Ltd. has submitted an IPO guidance record, marking a significant acceleration in the capitalization process of China's commercial aerospace sector under supportive policies [1] Company Overview - Xinghe Power, established in 2018, is the first private commercial aerospace company in China to achieve rocket mass production, high-density launches, and commercialization [2] - The company accounts for 51.3% of the total successful launches in the domestic private rocket industry [2] - It has successfully launched 85 commercial satellites for 27 clients, leading in four key metrics: launch frequency, customer service, satellite launches, and success rate [2] Industry Context - The commercial aerospace industry in China is entering a phase of accelerated development, with expectations to exceed 2.5 trillion yuan by 2025 [4] - Recent policies have enhanced the capital market's inclusivity and adaptability towards commercial aerospace technology innovation, facilitating access to the secondary market [4][5] - The head companies in the commercial aerospace sector are leveraging core technological advantages and established achievements to bypass traditional profitability thresholds and enter the capital market early [4] IPO Acceleration - Several commercial aerospace companies, including Xinghe Power, Tianbing Technology, Blue Arrow Aerospace, and Yixin Aerospace, are accelerating their IPO processes this year [5] - The China Securities Regulatory Commission has increased support for the sector, allowing more companies in emerging industries to apply for listing under the fifth set of standards on the Sci-Tech Innovation Board [5]