According to IPO Zaozhidao, LandSpace Space Technology Co., Ltd. (hereinafter referred to as "LandSpace") signed a tutoring agreement with China International Capital Corporation (CICC) on July 25 this year, officially initiating its listing process on the STAR Market.

This signifies that LandSpace may become "the first commercial space company on the STAR Market". Notably, on June 18, 2025, China Securities Regulatory Commission (CSRC) Chairman Wu Qing stated at the Lujiazui Forum that the STAR Market would resume allowing unprofitable companies to list under the fifth set of standards, providing more precise services to high-quality tech enterprises with significant technological breakthroughs, broad commercial prospects, and substantial ongoing R&D investments. The scope of the fifth standard will be expanded to support more cutting-edge technology sectors including artificial intelligence, commercial space, and low-altitude economy.

Founded in 2015, LandSpace is committed to building a complete industrial chain centered around medium-large liquid oxygen methane carrier rockets, encompassing "R&D, manufacturing, testing, and launch", creating a technological complex in the aerospace field to provide cost-effective and highly reliable space transportation services for the global market.

As the first private carrier rocket company in China to obtain all necessary qualifications and the only one to achieve successful orbit insertion using self-developed liquid engines, LandSpace has demonstrated full industrial chain delivery capabilities. In July 2023, LandSpace successfully launched the Zhuque-2 Y2, the world's first liquid oxygen methane carrier rocket to reach orbit, marking China's comprehensive mastery of key technologies for liquid oxygen methane carrier rockets. The Zhuque-2 became China's first privately developed liquid rocket to enter mass production and commercial operation.

According to LandSpace's plans, its self-developed Zhuque-3 reusable carrier rocket (hereinafter referred to as "Zhuque-3") will make its maiden flight in the second half of this year. As a large liquid oxygen methane rocket with first-stage reusability, the Zhuque-3 has a liftoff weight of approximately 570 tons and a total length of about 66 meters. On June 20 this year, the Zhuque-3 completed its first-stage power test, which was China's largest and most automated nine-engine parallel ground hot-fire test to date.

Additionally, LandSpace's 100th Tianque series liquid oxygen methane rocket engine officially rolled off the production line on April 15 this year, marking a successful transition from "single-unit breakthrough" to "mass production" in China's private commercial space sector for rocket propulsion systems. This achievement ushers in a new era of "three-digit production" and initiates a new phase of large-scale application.