Commercial aerospace giants rush to go public, A-share concept stocks revealed

The pace of space launch missions has clearly accelerated.

Commercial space giants sprinting towards the capital market

According to a report by Jiemian News on March 25, commercial space giant SpaceX plans to secretly submit its initial public offering prospectus to regulators later this week or next week, with a goal to go public in June.

This IPO is highly anticipated and is expected to set multiple records. Advisors involved in the preparation estimate that SpaceX plans to raise over $75 billion, which would surpass the record set by Saudi Aramco in 2019, becoming the largest IPO in history. The company’s latest valuation has reached $1.25 trillion, and if it goes public successfully, it will immediately rank among the highest valued companies in the world.

Industry insiders point out that what supports SpaceX’s high valuation is the strong cash flow from its Starlink satellite internet business and its absolute dominance in the global commercial launch market. Musk previously provided guidance that the company’s revenue would be approximately $15.5 billion in 2025, and the market generally views “Starlink” as the core source of cash flow. It is noteworthy that SpaceX recently completed a merger with artificial intelligence company xAI, and the market generally believes that this substantial financing is aimed at funding cutting-edge projects such as “space AI data centers,” further solidifying its leading position in the space economy.

A-shares concept stocks exposed

Dongwu Securities previously released a research report mentioning a list of targets with confirmed facts of supplying related products to SpaceX.

Tongyu Communication: The company’s MacroWiFi product has achieved satellite direct internet connection capabilities through SpaceX interfaces, completed certification tests, and received small batch orders and deliveries. As low-orbit terminals penetrate from specialized scenarios to universal scenarios, the company’s engineering delivery capabilities will drive product volume.

Xinwei Communication: Since 2022, the company has continuously supplied some components of satellite ground terminal products to SpaceX and is the exclusive supplier of related products, which are directed towards the Starlink ground terminal chain.

Zaiseng Technology: Since 2020, the company has supplied high-silica fiber products to SpaceX, with the most recent traceable supply record in September 2024. High-silica fiber is mainly used for thermal insulation and ablative composite layers in high-temperature areas such as aircraft thermal protection and engine nozzles, being lightweight, low thermal conductivity, and heat shock resistant, which directly relates to the reliability and maintenance costs of reusable spacecraft thermal protection.

In addition to the verified suppliers, Dongwu Securities believes that the following targets also have the potential to become key suppliers in SpaceX/commercial space: Western Materials, Parker New Materials, Tianyin Electromechanical, Platinum, Baotai Co., Ltd., Srey New Materials, Chaojie Co., Ltd., Jintuo Co., Ltd., Weilan Lithium Core, Maiwei Co., Ltd., Junda Co., Ltd., and Const.

Related companies have also recently experienced significant stock price fluctuations. Zaiseng Technology hit the daily limit yesterday and again reached the daily limit during trading today; Western Materials surged in the morning session today, briefly rising over 8%.

It is worth mentioning that in a recent announcement regarding stock price fluctuations, Zaiseng Technology stated that since 2020, the company has directly supplied “high-silica fiber products” to a well-known international aerospace company, and in 2024, the revenue from this product line accounted for a very low proportion of the company’s total revenue, having no significant impact on the company’s performance. Currently, there are no existing orders for “high-silica fiber products,” and there is considerable uncertainty in obtaining future orders.

These concept stocks have high withdrawals

China’s commercial space is also accelerating its development. A research report from Industrial Securities points out that aerospace has been included in the “14th Five-Year Plan” as a strategic emerging industry, with commercial space and domestically produced large aircraft being specifically mentioned. Meanwhile, space launch missions have clearly accelerated.

From March 13 to 16, China’s space industry completed five major tasks in quick succession: the Long March 8A rocket ignited and launched at the Hainan commercial space launch site, sending 20 low-orbit satellites into their designated orbits; the Long March 2D rocket ignited and took off from the Xichang Satellite Launch Center, successfully sending the experimental satellites 30-03 and 30-04 into their designated orbits; the Long March 6 modified carrier rocket ignited and took off from the Taiyuan Satellite Launch Center, sending the remote sensing satellite 50-02 into its designated orbit; the Kuaizhou 11 solid carrier rocket successfully sent 8 satellites into their designated orbits from the Jiuquan Satellite Launch Center. Prior to this, the last domestic space launch mission was the February 12 launch of the Jielong 3 carrier rocket.

In the A-share market, commercial space concept stocks have generally experienced significant withdrawals. Data shows that as many as 46 concept stocks saw their latest closing prices drop over 30% from their highs of the past year. Among them, Aerospace Hongtu has retraced nearly 59%, ranking first, while stocks such as Chenxi Aviation and Shaanxi Huada have all retraced over 45%.

Among the high-retraction stocks, Chaojie Co., Ltd. has been investigated 39 times in the past year. In recent investigations, the company stated that the commercial space business has broad prospects, and its main business currently involves the manufacturing of structural components for commercial rockets, including major sections (shell segments), fairings, etc. Additionally, Srey New Materials and Sichuan Electronics have also been frequently investigated.

In a recent survey at the end of last year, Srey New Materials pointed out that the company’s liquid rocket engine thrust chamber is an important component of the engine, where high-temperature and high-pressure gases produced by propellant combustion rapidly expand in the thrust chamber and are released through the rocket nozzle, thereby generating a reactive force that forms rocket thrust.

Disclaimer: All information content from Data Treasure does not constitute investment advice. The stock market carries risks, and investments should be made cautiously.

Proofread by: Yang Liling