海上回收平台系统是实现液体火箭一子级垂直回收的关键基础设施，即将在海南开展测试。该平台具备 承接中大型液体火箭海上垂直回收能力。动力系统试车基地是验证火箭发动机可靠性的必要环节，已获国家 航天局批复，正在推进土地征收。基地建成后，每年可完成10至12次火箭动力系统试车，服务国内外多家航 天企业。 三大项目共同构成了"制造—测试—回收—复用"的产业链闭环，目标直指双曲线3号运载火箭"首飞即入 轨+海上回收"的目标。 实现火箭生产组装、全系统测试、回收后复用检测"一站式"闭环 星际荣耀运载火箭总装总测复用工厂内设置的双曲线三号运载火箭机械模拟箭。 海南日报全媒体记者 王 程龙 摄 海南日报文城10月9日电（海南日报全媒体记者 刘冀冀）10月9日，星际荣耀运载火箭总装总测复用工厂 （一期）项目在文昌东郊镇全面竣工。这不仅是中国首家专注于运载火箭整体装配、测试与重复使用的综合 性工厂，更是海南商业航天从"发射场"迈向"制造厂"的关键一步。 星际荣耀运载火箭总装总测复用工厂项目总投资约4.5亿元，总建筑面积达2.88万平方米，项目创新性地 采用"总装、总测、复用"三位一体模式，实现火箭从生产组装、全系统测试到回收后复用 ...

Core Viewpoint - The capitalization process in China's commercial aerospace sector is accelerating, highlighted by Beijing Xingji Glory Space Technology Co., Ltd. completing a D+ round financing of 700 million RMB, aimed at enhancing its core rocket product development and production capabilities [2][4]. Funding Allocation - The newly injected funds will focus on three main areas: the continued research and testing of the "Double Curve No. 3" reusable liquid rocket, the construction of a production base in Chengdu, and the establishment of an engine production line in Mianyang [2][3]. - The Chengdu production base project has a total investment exceeding 3 billion RMB and aims to achieve an annual production capacity of 20 rockets once operational [2]. Product Development - The "Double Curve No. 3" rocket is designed to compete with SpaceX's Falcon 9, targeting high-frequency, low-cost launch services for future low-orbit satellite constellations in China [3]. - The first flight test of the "Double Curve No. 3" is scheduled for the end of 2025, aiming to complete a full process verification including "orbital insertion + sea recovery" [3]. Market Demand - There is a significant demand for launch capacity driven by large satellite constellation plans, such as the "G60 Thousand Sails Constellation" and "GW Constellation," which together plan to launch over 20,000 satellites [4]. - The current supply-demand imbalance in the market has led to instances where launch service procurements have failed due to insufficient qualified suppliers [4]. Industry Trends - The company is in the process of preparing for an IPO on the Sci-Tech Innovation Board, reflecting a broader trend of commercial aerospace companies seeking to enter capital markets [4][5]. - The recent regulatory changes have opened new pathways for commercial aerospace firms to list, with several companies already in the IPO preparation phase [5]. Future Outlook - As more commercial aerospace companies successfully enter the capital market, the competitive landscape and development models within the industry are expected to be reshaped, facilitating larger production scales and reduced launch costs [6].