Core Viewpoint - Jiangsu Tianbing Aerospace Technology Co., Ltd. (Tianbing Technology) has signed a counseling agreement with CITIC Securities for its IPO, indicating a significant step towards public listing in the commercial aerospace sector [1] Company Overview - Tianbing Technology is a high-tech enterprise specializing in the development of next-generation liquid rocket engines and medium to large liquid launch vehicles, with a registered capital of 391 million yuan [1] - The company has been recognized as a unicorn for three consecutive years and is expected to enter the global unicorn list in 2024, showcasing strong growth potential [1] Development Strategy - The company aims to establish a product development strategy focusing on "three machines and two rockets," supported by strategic centers and platforms across various locations, including Beijing and Xi'an [1] - Tianbing Technology plans to build a supply chain system that radiates nationwide from the Yangtze River Delta and a launch market network that targets global reach [1] Financing Activities - In June of the previous year, Tianbing Technology announced the completion of over 1.5 billion yuan in Series C+ financing, which will primarily fund the maiden flight and mass production of the Tianlong-3 large liquid launch vehicle [2] Industry Context - The commercial aerospace sector is witnessing a surge in IPO activities, with companies like Blue Arrow Aerospace and Yixin Aerospace also initiating listing counseling this year [3] - The China Securities Regulatory Commission has increased support for the commercial aerospace industry, allowing unprofitable companies to apply for listing under the fifth set of standards on the Sci-Tech Innovation Board [3] - Various provinces have introduced policies to promote the high-quality development of the commercial aerospace sector, such as Guangdong and Shandong [3]

Group 1 - Jiangsu Tianbing Aerospace Technology Co., Ltd. (Tianbing Technology) signed a counseling agreement with CITIC Securities for its IPO on October 14, 2023, and has completed the counseling filing [1] - Tianbing Technology is a leading high-tech enterprise in China's commercial aerospace sector, focusing on the development of new-generation liquid rocket engines and medium-to-large liquid launch vehicles, with a registered capital of 391 million yuan [1] - The company has been listed as a unicorn for three consecutive years and is expected to enter the global unicorn list in 2024, indicating strong growth potential [1] Group 2 - In June 2022, Tianbing Technology announced the completion of over 1.5 billion yuan in Series C+ financing, with funds primarily allocated for the maiden flight and mass production of the Tianlong-3 large liquid launch vehicle [2] - The current trend in the commercial aerospace industry shows a surge in IPO activities, with companies like Blue Arrow Aerospace and Yixin Aerospace also initiating listing counseling this year [3] - The increase in IPO activities is supported by enhanced policy measures, including the China Securities Regulatory Commission's new guidelines for the Sci-Tech Innovation Board, which aim to support emerging industries like commercial aerospace [3]