Brokerages continue to be optimistic about commercial spaceflight, expecting a period of concentrated IPOs for core companies.

Ask AI · How Will the Listing Wave Accelerate the Development of the Space Economy Industry Chain?

【Global Network Finance Comprehensive Report】On March 31, the Shanghai Stock Exchange official website showed that the review status of China Academy of Space Technology Co., Ltd.'s Sci-Tech Innovation Board IPO has been updated to “Accepted,” with Guotai Haitong as the sponsor. Previously, Galaxy Aerospace (Beijing) Technology Group Co., Ltd.'s A-share IPO completed guidance filing with the Beijing Securities Regulatory Bureau.

Founder Securities believes that commercial aerospace is about to enter a concentrated period of core company listings. Currently, private rocket companies such as LandSpace, China Academy of Space Technology, GalaxySpace, Tianbing Technology, and Starry Glory are advancing their IPO processes. In the satellite sector, besides Galaxy Aerospace, which has completed guidance filing, China Electronics Blue Sky has gone public; Changguang Satellite plans to restart its IPO, while MicroNanoStar and Guoxing Aerospace are in the IPO process. Overseas, SpaceX is about to submit IPO materials, and commercial aerospace is expected to enter a period of concentrated core company listings.

Institutions are optimistic about the commercial value of commercial aerospace. CITIC Construction Investment research reports that in satellite manufacturing, the construction of giant constellations composed of tens of thousands of satellites and the ongoing network replenishment demand bring a market scale of hundreds of billions; space data centers further expand the imagination space; in rocket launch, besides satellite launch demand, with increased rocket capacity and reduced launch costs, activities such as space tourism, global ultra-fast transportation, space biological experiments, and resource development and utilization will be carried out in an orderly manner. Ground equipment and operation services, satellite internet operation services, and various terminal direct-to-satellite demands bring a market space of trillions.

Open Source Securities states that they are highly optimistic about the resonance of domestic and international commercial aerospace technology and capital by 2026, and continue to focus on the rocket industry chain. Huatai Securities notes that the commercial aerospace sector will see a series of catalytic events by 2026, and investors should seize the growth opportunities driven by industry development and event catalysts.

CITIC Construction Investment believes in the future performance of the commercial aerospace sector, with key focus on payloads, antennas and supporting equipment, laser communication terminals and supporting systems, solar wings and energy systems in the satellite segment; engines and related 3D printing, airframe structural parts in the rocket segment; civilian terminals and direct mobile connections in ground equipment; and companies with scarce qualifications in operation services. (Wen Hui)