The commercial space industry is booming, and Changguang Satellite is preparing to restart its IPO.
Recently, Xinfeng exclusively learned from sources close to Changguang Satellite Technology Co., Ltd. (“Changguang Satellite”) that the company is planning to restart its IPO.
In response to this news, Xinfeng called Changguang Satellite for confirmation, but the call could not be connected, and no reply had been received to the email as of press time.
Previously, Changguang Satellite had voluntarily withdrawn its application for listing on the STAR Market in December 2024, marking the failure of its first two-year attempt.
As the company with the world's largest sub-meter-level commercial remote sensing satellite constellation, Changguang Satellite’s "Jilin-1" project has a total of 141 satellites in orbit.
It is worth noting that prior to restarting the IPO, Changguang Satellite completed a “transition” in its core management team.
On October 17, 2025, the former chairman, Xuan Ming, resigned, and Zhang Lei, former chief designer of the "Jilin-1" wide-swath series satellites, succeeded him as chairman.
In addition, according to the aforementioned informed source, Changguang Satellite is currently undergoing a new round of financing.
Against the backdrop of favorable policies, Changguang Satellite has gained a lot more confidence for its IPO preparations.
In fact, the entire commercial space industry accelerated in 2025.
From the data, China’s commercial space sector completed 50 launches in 2025, accounting for 54% of the total aerospace launches; that year, 311 commercial satellites entered orbit, making up 84% of China's total satellites sent into orbit annually.
Guotai Haitu Securities believes that during the “15th Five-Year Plan” period, the mass application of large rockets represented by Zhuque-3 and Long March 12A is likely to break through the current technological bottleneck restricting China’s constellation construction, commercial aerospace launch frequency will continue to accelerate, and the construction of giant constellations represented by GW and G60 is expected to speed up, paving the way for rapid growth in China's commercial aerospace industry.
With new leadership, fresh capital, and strong policy support, Changguang Satellite has gathered all the favorable conditions. Whether it can step out from the shadow of its previous failed IPO attempt is now under the spotlight.
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