🚀 China’s LandSpace Nears STAR Market IPO as Reusable Rocket Pushes Forward
China’s private rocket maker LandSpace is setting the stage for a high-profile 2026 IPO on the Shanghai STAR Market, a major milestone for the nation’s burgeoning commercial space industry. The move marks one of the most significant efforts yet by a Chinese space startup to tap public capital, accelerate reusable rocket development, and compete with global players like SpaceX. (Reuters)
A New Chapter for China’s ‘NewSpace’ Scene
LandSpace has completed the so-called “tutoring” process—an IPO preparatory step in China that involves detailed coaching on regulatory compliance, disclosures, and governance with the help of state-owned China International Capital Corp (CICC). This clears a key hurdle toward its projected 2026 listing on the STAR Market, a tech-focused stock board designed to support deep tech, R&D-heavy firms—even those not yet profitable. (Reuters)
The startup’s IPO ambitions come amid official encouragement for private space companies to access capital markets as a way to bolster innovation and help China catch up in a field long dominated by state players. Investors see the STAR Market as China’s answer to Nasdaq—especially for breakthrough technologies like reusable rocket engines. (Reuters)
Reusable Rocket Milestones and Setbacks
LandSpace’s technological journey includes the development of the Zhuque-3 (ZQ-3), a cutting-edge, partially reusable rocket designed to reduce launch costs and increase mission cadence. Earlier in December 2025, the company achieved a major technical milestone by launching Zhuque-3, although the first-stage recovery attempt ended in failure, with the booster crashing instead of completing a controlled landing. (Asia Business Outlook)
Despite this setback, the orbital flight still placed the second stage into its planned trajectory, and some investors say that the failed recovery won’t derail the IPO process—highlighting how market watchers are separating technological execution risks from long-term commercial prospects. (Yicai Global)
Why It Matters
- Reusability Race: LandSpace’s efforts reflect China’s broader push to master rocket reusability—a strategy pioneered by SpaceX that dramatically cuts launch costs and enables rapid turnaround between flights. (Reuters)
- Capital Access: The STAR Market listing could give LandSpace a major financial boost, providing funding to refine recovery tech and scale production. (Reuters)
- Private Sector Momentum: LandSpace’s IPO journey is part of a larger trend, with other Chinese launch startups like Galactic Energy also eyeing public markets and significant fundraising. (Reuters)
As China’s commercial aerospace sector accelerates—backed by both private backing and government policy—the success of ventures like LandSpace could reshape not just national capability, but global competition in space access and satellite deployment.
🚀 Glossary: Key Terms Simplified
IPO (Initial Public Offering) The process by which a private company sells shares to the public on a stock exchange to raise capital.
Reusable Rocket A launch vehicle designed so parts—especially the first stage—can be used multiple times, reducing costs per flight compared to single-use rockets.
STAR Market A Shanghai Stock Exchange board focused on technology and innovation firms, similar in spirit to the Nasdaq, and friendly to R&D-intensive startups.
Tutoring Process A mandatory IPO preparation phase where financial advisors coach a company’s leadership on regulatory compliance and disclosures.
Source: https://www.techinasia.com/news/china-reusable-rocket-startup-landspace-eyes-2026-star-ipo
