Core Viewpoint - The commercial aerospace sector, particularly private rocket launch companies, is in the early stages of commercialization, facing challenges such as high R&D costs and difficulty in achieving profitability. Despite these challenges, Minsheng Bank has proactively engaged with this sector, providing tailored financial services to support innovation and growth [1][5][9]. Group 1: Industry Overview - The commercial aerospace industry, especially private rocket launch enterprises, has not yet established stable revenue streams and faces significant R&D investments [1][5]. - The industry has a high technical barrier and complex technological routes, making it difficult for traditional banks to provide credit loans [1][5]. - As of now, six private rocket companies in China have successfully launched operational rockets, marking a significant shift in the global aerospace landscape [2][5]. Group 2: Minsheng Bank's Strategy - Minsheng Bank has aligned its strategy with national innovation-driven development policies, establishing a strong presence in Beijing's "Rocket Street," which houses 75% of China's commercial rocket companies [5][6]. - The bank has developed a differentiated service strategy, shifting its credit approval focus from traditional financial statements to evaluating talent, technology, and market ecosystems [6][9]. - Minsheng Bank has cultivated a team of professionals who understand the unique needs of aerospace companies, enhancing credit support and expanding loan products to include long-term project financing [9][12]. Group 3: Comprehensive Support Services - The bank has created the "Minsheng Easy Innovation" service matrix, offering a one-stop solution that combines commercial banking and investment banking services [12]. - Minsheng Bank actively participates in equity financing for private rocket companies, leveraging its network to connect them with venture capital and private equity firms [12][14]. - The bank provides high-level services to executives of these companies, including wealth management and exclusive benefits, enhancing the overall client experience [12][14]. Group 4: Ecosystem Development - Minsheng Bank has expanded its financial services across the entire commercial aerospace supply chain, from upstream fuel storage to downstream satellite manufacturing [14][15]. - The bank's "Minsheng E-Link" product series addresses diverse financing needs for core enterprises and their supply chain clients, utilizing transaction data for risk assessment [14][15]. - The bank aims to transform data assets of innovative enterprises into financial assets, providing more precise and efficient financial services [15].