SpaceX IPO is imminent, the Falcon 9 rocket will make its first flight! Resonating domestically and internationally, the General Aviation ETF (159231) surged strongly by 1.46%.

March 30, the aerospace and aviation sector rebounded, and after a broad intraday trading range, the YuBao General Aviation ETF (159231)—a one-click allocation to commercial space, satellite navigation, low-altitude economy, and large passenger aircraft—rallied strongly. At one point during the session, it rose as high as 1.78%; it ultimately closed up 1.46%. Trading volume surged significantly.

A number of aerospace and aviation equipment stocks led the gains: Guanglian Airlines hit the 20CM daily limit and capped the board; Tianyin Electromechanical and Aerospace Nanhuyue surged by more than 7%; Aerospace Universum rose by over 5%; China Satellite rose by more than 4%; Aerospace Electronics rose by more than 3%; and multiple other stocks including Guirui Technology, Hongdu Aviation, and Ruitron Micro-Nano gained by more than 2%.

On the news front, the technology media outlet The Information reported that SpaceX plans to submit, in the near term, its first draft registration statement for an initial public offering to the regulatory authorities, with the goal of listing on June. An advisor expects the company to raise more than $75 billion in the IPO, higher than the previously estimated $50 billion. This IPO could become the largest IPO in U.S. history, with a scale far exceeding prior ones.

Domestically, the Lijian 2 rocket is about to make its maiden flight in Jiuquan. This mission carries the Chuizhou-1 initial prototype test spacecraft. If the maiden flight is successful, the Chuizhou-1 full-scale spacecraft will be officially inducted and will take on China Space Station’s routine cargo transportation mission. In addition, Tianbing Technology’s Tianlong-3 and DeepBlue Aerospace’s Tianyun-1 are also expected to begin their first flights, and Zhuiqu-3 is planned to attempt a recovery again in the second quarter.

In its research report, Open Source Securities stated plainly: We have a strong positive view on the 2026 resonance between technology and capital in both domestic and overseas commercial space, and will continue to track the rocket industrial chain, the satellite industrial chain, and also space computing power, space energy, etc.*

Wings of a great nation—great plans unfolding! The YuBao General Aviation ETF (159231) and its linked funds (Class A: 024766; Class C: 024767) comprehensively cover 50 aerospace and aviation constituent stocks in the underlying index. The lineup includes popular areas such as the low-altitude economy, commercial space, satellite navigation, large passenger aircraft, unmanned aerial vehicles, military aircraft, and more. Among them, the low-altitude economy concept accounts for more than 88%, commercial space more than 65%, and satellite navigation more than 47%—making it a tool for one-click allocation across China’s aerospace and aviation industrial chain.

Source of data: Shanghai and Shenzhen Exchanges

Fund fee explanation: The YuBao General Aviation ETF does not charge a sales service fee. The subscription and redemption agent institutions may charge a commission at a rate not exceeding 0.5%. On-exchange transaction fees are subject to what the securities firms actually charge. The subscription fee for YuBao General Aviation ETF Linked A is: for amounts above 2 million yuan, 1,000 yuan per order; 1 million to 2 million yuan, 0.6%; below 1 million yuan, 1%. The redemption fee is: 1.5% for holding periods under 7 days; 0% for 7 days or more. No sales service fee is charged. The redemption fee for YuBao General Aviation ETF Linked C is: 1.5% for holding periods under 7 days; 0% for 7 days or more. The sales service fee is a management fee of 0.25% per year.

*Institutional viewpoint reference source: Open Source Securities March 29 《Weekly Viewpoints: SpaceX is about to submit an IPO application—pay attention to commercial space investment opportunities》

Risk warning: The YuBao General Aviation ETF passively tracks the Guozheng General Aviation Industry Index. The index’s base date is 2012.06.29, and the publication date is 2012.12.28. The index constituent stock composition is adjusted from time to time according to the index compilation rules. Its backtested historical performance does not indicate the index’s future performance. The index constituent stocks shown in this article are for demonstration only. Stock descriptions do not constitute any form of investment advice, nor do they represent information about holdings or trading developments of any funds managed by the manager. The fund manager has assessed the risk level of this fund as R3—medium risk. It is suitable for balanced (C3) investors and above. For the suitability matching opinion, please refer to the sales institution. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of statements) is for reference only. Investors must take responsibility for any investment actions they decide to make independently. In addition, any viewpoints, analysis, and forecasts in this article do not constitute any form of investment advice to the readers, and the manager assumes no responsibility for any direct or indirect losses arising from the use of the content in this article. Investing in funds involves risk. Past performance of a fund does not guarantee its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund’s performance. Investors should invest cautiously.

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