Particle.news
Download on the App Store
4 ARTICLES
·
2d ago

LandSpace Readies Next Zhuque-3 Flight and IPO Bid as China Backs Reusable Rockets

New Shanghai listing rules open a fast lane for reusable-rocket firms to raise funds.

An employee walks next to rocket engines at the assembly hall at China’s private rocket company LandSpace's factory in Huzhou, Zhejiang province, China, December 17, 2025. REUTERS/Maxim Shemetov
An employee walks next to rocket engines at the assembly hall with a national flag of China displayed in the background on the wall, at China’s private rocket company LandSpace's factory in Huzhou, Zhejiang province, China, December 17, 2025. REUTERS/Maxim Shemetov
A man walks by TQ-12A and TQ-12 rocket engines set up on display at China’s private rocket company LandSpace's factory in Huzhou, Zhejiang province, China, December 17, 2025. REUTERS/Maxim Shemetov
An employee loads details into an industrial processing chamber at the assembly hall at China’s private rocket company, LandSpace's factory in Huzhou, Zhejiang province, China, December 17, 2025. REUTERS/Maxim Shemetov

Overview

  • Beijing-based LandSpace became the first Chinese company to run a reusable-rocket test this month, reaching orbit before losing the booster when its landing burn failed roughly 3 km above ground.
  • The company is preparing another Zhuque-3 launch and moving toward a public listing, after offering Reuters rare access to its engine factory.
  • Shanghai’s STAR market now allows reusable-rocket developers to list without meeting profit or revenue thresholds if they demonstrate key milestones such as an orbital launch using reusable technology.
  • Chinese state media recently reported two unsuccessful booster-recovery attempts, including one by a state-owned launcher, signaling greater tolerance for test-fail-learn development.
  • Elon Musk said in October that Zhuque-3 combines Starship-like stainless steel and methalox with a Falcon 9-style design, an approach he suggested could outperform Falcon 9.