Core Viewpoint - The commercial rocket industry in China is rapidly developing due to supportive policies, with a new model rocket, "Zhishenxing No. 1," set for its first orbital launch by the end of the year [1][3]. Group 1: Rocket Development - The "Zhishenxing No. 1" is a medium to large, reusable launch vehicle, measuring 50 meters in length and over 3 meters in diameter, currently undergoing installation and testing [1]. - The rocket is equipped with eight "Cangqiong" liquid fuel engines, which are fully self-developed by the company, using liquid oxygen and kerosene as fuel [3][5]. - The company has previously focused on solid fuel rockets, achieving mass production and high-frequency launches, successfully completing 19 commercial rocket launches and delivering 81 satellites to their designated orbits [3]. Group 2: Technological Innovation - Since 2019, the company has been developing liquid fuel rockets, which are more economical and environmentally friendly compared to solid fuel rockets, and designed for vertical recovery with up to 25 reuse cycles [5]. Group 3: Financial and Policy Support - The success of the company in research and development is closely linked to supportive technology finance policies, with significant investments in the aerospace industry in Anhui Province, including four commercial space projects with a total investment of 11.12 billion yuan [7]. - Local financial support addresses challenges faced by startups, such as limited market size and funding shortages, providing direct financial assistance and establishing a commercial aerospace industry fund [7]. - Anhui Province has implemented a comprehensive reform plan for future industries, promoting diversified funding sources and supporting companies in the capital market for listing and financing [7].