Chinese launch startups. CAS Space and Landspace advance plans for IPOs

HELSINKI – Two of China’s most prominent private space companies, CAS Space and Landspace, are taking significant steps towards becoming publicly listed, signalling a new phase in the country’s burgeoning commercial space sector. Both firms have initiated the formal processes required for an Initial Public Offering (IPO) on the Shanghai Stock Exchange’s STAR Market, a board dedicated to technology and innovation-driven enterprises.

CAS Space, a spin-off from the Chinese Academy of Sciences (CAS), has already completed its IPO counselling with regulators. This marks the first official hurdle cleared on its path to a public listing. The move highlights the company’s progress and the growing maturity of its operations. Known for its Kinetica series of rockets, CAS Space is also actively developing a suborbital vehicle for space tourism, with a target of beginning commercial services. The company’s launch record includes a successful maiden flight of its Kinetica-1 solid-propellant vehicle in July 2022 and subsequent missions. It is also planning the inaugural flight of its Kinetica-2 liquid-fuel rocket.

Similarly, Landspace has also commenced pre-IPO tutoring with the China Securities Regulatory Commission (CSRC) in Beijing. This is a crucial first step for any company seeking to list on the A-share market. Landspace is a leader in China’s private space industry, recognised for its development of liquid-propellant rockets. The company’s flagship rocket, Zhuque-2, is a liquid oxygen-methane-powered vehicle, and its successful launch has been a major milestone for the country’s private space sector. Landspace has attracted considerable funding in previous investment rounds, including a significant injection of capital in late 2024.

The advancement of these IPO plans reflects a growing confidence in China’s private space industry and the increasing availability of domestic capital for high-tech ventures. As the country’s space programme becomes more open to commercial participation, these companies are positioning themselves to secure the funding needed to scale up their operations, accelerate research and development, and compete on a global stage.