Launch orders scheduled until 2028, with active performance in the commercial spaceflight sector. Space propulsion stocks hit the daily limit.

（Source: 财闻）

          The chairman of Galaxy Power said that Galaxy Power’s launch orders have been scheduled through 2028, with ample mission backlog. The liquid, reusable rocket Zhenshenxing No. 1 will also achieve its first flight soon.            

On March 30, business spaceflight concepts were actively traded. Aerospace Dynamics (600343.SH) hit the daily limit, while Chaotian Jiesheng (301005.SZ) and Sword-Jian Shares (002361.SZ) both rose more than %. Tianyin Electromechanical (300342.SZ), China Satcom (601698.SH), China Satellite (600118.SH), Tongyu Communications, and Zhenlei Technology (688270.SH) also followed higher.

According to news, the chairman of Galaxy Power said that Galaxy Power’s launch orders have been scheduled through 2028, with ample mission backlog. The liquid, reusable rocket Zhenshenxing No. 1 will also achieve its first flight soon.

In addition, key progress has emerged in SpaceX’s (SpaceX) IPO process. According to publicly reported information, SpaceX plans to submit its initial public offering prospectus to regulators later this week or early next week, with the goal of completing the listing in June this year.

SpaceX’s fund-raising size this time may exceed $75 billion, higher than the $50 billion estimate previously made by the outside world. This IPO is expected to become the largest initial public offering in history, with a target valuation of $1.75 trillion. Previously, SpaceX acquired xAI, a company under Musk, and after the merger, the company’s overall valuation stands at $1.25 trillion.

Guosen Securities said that although the commercial spaceflight sector has experienced short-term volatility due to external factors such as the conflict in the Middle East, breakthroughs in industrial technology and the pace of commercialization continue to accelerate.

Based on this, Guosen Securities recommends investment and layout closely aligned with the core value segments of the industry, focusing on four main lines: first, rockets and upstream industry chains, with emphasis on breakthroughs and industrialization of core technologies such as reusable rocket engines, lightweight high-temperature-resistant materials, and 3D printing; second, satellite manufacturing and core components—seizing opportunities brought by large-scale production of satellites, and laying out key subsystems such as phased-array TR modules and laser communication payloads; third, satellite communication applications and services—tapping terminal scenarios where industrial value can be realized; fourth, overseas advanced industry chains—prioritizing upstream suppliers that already provide stable supporting services to top global customers, and sharing the dividends from technology spillover and market growth.

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