Overview
- New STAR market guidelines create a dedicated IPO channel for reusable-rocket developers that waives profitability and minimum revenue tests.
- Eligibility hinges on technical milestones such as at least one orbital launch using reusable-rocket technology, and successful booster recovery is not required.
- Companies undertaking national missions receive priority support under rules that the Shanghai Stock Exchange says take immediate effect.
- LandSpace finished CSRC IPO tutoring on December 23 and has already placed its Zhuque-3 into orbit using reusable-rocket technology after a booster recovery attempt fell short.
- Roughly 10 Chinese commercial space firms are moving toward listings, with peers pursuing mainland tutoring or Hong Kong filings, as Beijing seeks to narrow the gap with SpaceX and investor interest is buoyed by reports of a possible SpaceX IPO in 2026.