The company Landspace plans to attract to 1 A billion dollars of US (7,5 billion yuan) to finance the development of reusable launch vehicles thereafter, as its application for an initial public offering of shares (IPO) was accepted for consideration.
According to the documents, submitted to the Shanghai Stock Exchange, Chinese private rocket manufacturer Landspace intends to use the funds to invest in its Zhuque-2 liquid oxygen-methane engine (ZQ-2) and the development of a reusable launch vehicle.
2 EST on December 10, Landspace successfully launched the Zhuque-3 stainless steel second stage into orbit, but an attempted vertical landing on the landing pad failed shortly after it was turned off. The next launch is planned for the first half 2026 year.
The company's admission to the technologically oriented STAR Market took place after the announcement 26 December about that, that Chinese regulators have eased IPO rules for commercial rocket companies. This follows strong political support for the commercial space industry from the Chinese central government.
The company is seeking to win contracts to launch batches of satellites for the Gowan and Qianfan megaconstellations (A thousand sails), as well as the Honghu-3 spacecraft constellation.
Other companies, engaged in launching spacecraft, including CAS Space, which separated from the Chinese Academy of Sciences (CAS), at the beginning of August, and commercial launch companies Space Pioneer and Galactic Energy, both in October, also filed documents ahead of the planned IPO.
Next to Landspace, all three companies also develop reusable launch vehicles. The first launches of Pallas-1 medium-power missiles (Galactic Energy), Kinetica-2 (CAS Space) та Tianlong-3 (Space Pioneer) expected in the coming weeks, although attempts to recover launch vehicles during debut launches are not expected. All companies are also working on larger, reusable launch vehicles.
This initiative highlights the growing ambitions of China's private aerospace sector to compete with international players, such as SpaceX, in the field of technologies of reusable rockets.
Source: https://spacenews.com