Chinese satellite manufacturer MinoSpace has received approval for an initial public offering (IPO) and plans to attract 736 million dollars to develop the constellation and expand the product line. The prospectus mentions defense agencies as clients, and in the section on remote sensing of the Earth, military intelligence is listed as one
from key applications.
For reference: MinoSpace, founded in 2017 year, launched 32 satellites. The company has a production line with capacity 150 satellites per year. The order portfolio exceeds 147 millions of dollars, including
with a contract for 115 million dollars to build a remote sensing constellation for Sichuan Province.
The company plans to use the funds to deploy the first phase of the 112-satellite Taijing constellation, approved by the National Development and Reform Commission (NDRC). Some of the devices are already in orbit - among the launched Taijing satellites are the first Chinese commercial SAR satellites with sub-meter resolution in X- and Ku-bands. In general, the constellation will consist of optical ones, multispectral and radar (SAR) devices. in addition, MinoSpace plans to build a research and development center, deploy a new production line for SAR payloads, to create components for satellite platforms and a next-generation communications satellite.
This event is taking place against the background of changes to the admission rules at STAR Market, which facilitate IPOs for commercial space companies. If startups developing rockets, such as Landspace, CAS Space, Galactic Energy та Space Pioneer, are already moving towards an IPO, then MinoSpace's application is a similar step for commercial satellite manufacturers. In general, these processes are part of a large-scale expansion of satellite production in China. It is taking place against the backdrop of dozens of new entities – from state institutions to commercial companies and regional clusters – thanks to strong political support for commercial space and the emergence of large constellation projects. At the same time, funding and the number of IPOs of rocket startups are growing - this is how the country is trying to solve the problem of limited access to space.
Source: https://spacenews.com