Core Insights - Jiangsu Tianbing Aerospace Technology Co., Ltd. (Tianbing Technology) has signed a counseling agreement with CITIC Securities for its IPO, reflecting a trend of accelerated IPOs among commercial aerospace companies supported by policy initiatives [1][2] - Tianbing Technology is recognized as a leading high-tech enterprise in China's commercial aerospace sector, focusing on the development of next-generation liquid rocket engines and medium to large liquid launch vehicles [1] - The company has been listed as a unicorn for three consecutive years and is expected to enter the global unicorn list in 2024 [1] Company Overview - Tianbing Technology is registered in Zhangjiagang Economic and Technological Development Zone with a registered capital of 391 million yuan [1] - The controlling shareholder, Kang Yonglai, holds a direct shareholding of 23.49% [1] - The core team consists of industry veterans with an average age of 38, including hundreds of frontline technical and management personnel [1] Strategic Development - The company aims to establish a product development strategy featuring "three machines and two rockets," alongside a comprehensive aerospace manufacturing system and a supply chain network that radiates from the Yangtze River Delta to the entire country [2] - Tianbing Technology's strategic centers include the Beijing Rocket R&D Center, Xi'an Power R&D Center, Zhengzhou Comprehensive Testing Center, and Zhangjiagang Intelligent Manufacturing Base [2] Industry Trends - Since July, several leading commercial aerospace companies, including Blue Arrow Aerospace and Yixin Aerospace, have initiated IPO counseling [3] - Various provinces have introduced policies to support the high-quality development of the commercial aerospace sector, such as Guangdong and Shandong [3] - The China Securities Regulatory Commission (CSRC) has expanded the application of the fifth set of listing standards on the Sci-Tech Innovation Board to include more emerging industries, including commercial aerospace [2]