Overview
- The Shanghai Stock Exchange marked Landspace’s STAR Market application as accepted on December 31 after a rapid review enabled by rules announced on December 26.
- Landspace’s prospectus targets roughly 7.5 billion yuan (about $1 billion) to scale reusable launch services.
- In early December, the Zhuque-3 second stage reached orbit on a test flight, but the first-stage vertical landing attempt failed shortly after the landing burn in China’s first orbital booster recovery try.
- The company plans a second Zhuque-3 launch in the first half of 2026.
- Other Chinese launch firms—CAS Space, Space Pioneer and Galactic Energy—have also filed for IPOs and are developing reusable rockets, with debut flights of new vehicles expected in the coming weeks without recovery attempts.