{"id":1747,"date":"2026-06-12T09:07:54","date_gmt":"2026-06-12T09:07:54","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1747"},"modified":"2026-06-12T09:07:54","modified_gmt":"2026-06-12T09:07:54","slug":"spacex-playbook-set-to-fuel-chinas-ipo-ambitions-but-tech-gap-persists","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1747","title":{"rendered":"SpaceX playbook set to fuel China&#8217;s IPO ambitions but tech gap persists"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><li>Companies<\/li><\/ul><\/div><div><\/div><\/div><div>BEIJING\/SHANGHAI, June 12 (Reuters) &#8211; SpaceX&#8217;s record $75 billion IPO is poised to supercharge Chinese space startups racing to fund the same technologies that have made \u200bElon Musk the world&#8217;s first trillionaire \u2014 reusable rockets and giant satellite constellations.<\/div><div>In China, the initial public offering was watched as a benchmark for a \u200cyounger industry eager to go public. But the frenzy masks a fundamental gap, with firms going public ahead of meaningful revenue and without the proven technology that underpins SpaceX&#8217;s economics, a mismatch analysts say will cap valuations.<\/div><div>Yet the excitement is palpable. Huang Yan, co-founder of Shanghai-based Lantern Capital, said his decade-old investment in LandSpace is generating returns of roughly 100 times as the company moves toward \u200ba public listing.<\/div><div>Huang, who bought into LandSpace in 2016, said he ignored early scepticism, betting instead on the industry&#8217;s &#8220;technological moat and strategic value&#8221; over the long \u200bterm.<\/div><div>At least seven Chinese rocket and satellite companies including LandSpace and CAS Space are currently advancing IPO or pre-IPO plans, although financial details \u2060of those deals are not immediately known. Soochow Securities forecasts that by 2030 China&#8217;s commercial space market could surpass $1 trillion.<\/div><div>Unlike SpaceX, which is heading to market on the \u200bback of reusable rockets, its Starlink broadband network and ambitions spanning direct-to-device links and orbital AI infrastructure, Chinese peers have yet to successfully launch reusable rockets.<\/div><div>&#8220;Everything SpaceX does is \u200ba bellwether for China&#8217;s space industry&#8230; I wouldn&#8217;t be at all surprised to see a strong uptick in Chinese commercial-space listings and funding,&#8221; said Ellis Scherer of the Information Technology and Innovation Foundation.<\/div><div>He said China&#8217;s lack of a mission-ready reusable rocket remains &#8220;the biggest barrier&#8221; to catching up with the U.S. in space.<\/div><div>LandSpace, widely regarded as China&#8217;s closest private-sector challenger to SpaceX, had the maiden test of its \u200bZhuque-3 rocket in December but the booster failed to complete a controlled landing and was not recovered.<\/div><div>The ability to return, refurbish and re-fly boosters, key to slashing launch \u200bcosts for satellites, remains unproven among Chinese firms.<\/div><h2>&#8216;LARGER GAP&#8217;<\/h2><div>Limited revenue highlights how far China&#8217;s commercial space sector still has to go. LandSpace reported 36.4 million yuan ($5.2 million) in first-half 2025 revenue, while \u200cSpaceX&#8217;s revenue \u2060rose by a third to nearly $19 billion in 2025, roughly three-fifths of it from Starlink.<\/div><div>If LandSpace or another Chinese firm makes a breakthrough in booster recovery, it could relieve pressure on China&#8217;s two main Starlink-style projects, said Gabriel Deville, manager at consultancy Novaspace.<\/div><div>The two projects &#8211; Guowang and Qianfan, known internationally as Spacesail &#8211; have a combined few hundred satellites in orbit, against Starlink&#8217;s roughly 10,400.<\/div><div>A Chinese space-company executive, who declined to be identified as he is not authorized to speak to media, said the most optimistic scenario would \u200bsee China match Starlink&#8217;s current scale around \u200b2033, though that target is moving.<\/div><div>But \u2060successful deployment of Starship, SpaceX&#8217;s next-generation heavy rocket that can launch three times as many satellites in one launch as Falcon 9, could widen the gap between Starlink and its Chinese challengers &#8220;exponentially&#8221;, the executive said.<\/div><h2>FRAGMENTATION<\/h2><div>SpaceX&#8217;s vertical model, where Starlink generates demand for its \u200bown launches, has no clear equivalent in China. The sector is fragmented, leaving startups dependent on orders from state-backed constellation operators \u200bwhose procurement and deployment \u2060schedules sit outside their control.<\/div><div>&#8220;The big move of SpaceX was to move revenue generation away from launch and to broadband constellations,&#8221; said Novaspace&#8217;s Deville.<\/div><div>Still, Deville said Chinese startups have a clearer demand argument than many Western challengers, since they can pitch themselves as essential to deploying China&#8217;s sovereign constellations.<\/div><div>The domestic opportunity would likely be more state-led and enterprise-focused than Starlink&#8217;s \u2060mass-market model, with \u200bdemand from mobility, maritime, remote industrial sites, emergency response and Belt and Road markets, he added.<\/div><div>But dominance \u200bby state-owned enterprises may limit the emergence of a Chinese private-sector Starlink equivalent, experts said.<\/div><div>&#8220;If you want to be a telco in China, there are no private telcos in China,&#8221; said Blaine Curcio, founder of \u200bOrbital Gateway Consulting.<\/div><div>($1 = 6.7657 Chinese yuan renminbi)<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Eduardo Baptista\" class=\"wp-image-9\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/05\/a8d647782541686b4c9068dd2dfa6f30.avif\"\/><\/figure>\n<\/noscript><\/div><div>Eduardo Baptista<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1745\">After record IPO, Musk\u2019s SpaceX faces next test in market debut<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1741\">Fans in Vancouver shrug off high prices as personal journeys drive World Cup trips<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1739\">Empty seats at World Cup match renews concerns over ticket prices<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>SpaceX&#8217;s record $75 billion IPO is poised to supercharge Chinese space startups racing to fund the same technologies that have made \u200bElon Musk the world&#8217;s first trillionaire \u2014 reusable rockets and giant satellite constellations.<\/p>\n","protected":false},"author":1,"featured_media":1746,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[112,87],"class_list":["post-1747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-capital-markets","tag-transactional"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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