SpaceX goes public, humanity's "moon landing" resumes, commercial spaceflight continues to be catalyzed, with multiple stocks attracting funding attention (list)

The commercial aerospace sector has recently seen a surge of dense catalysts.

SpaceX secretly filed its IPO documents

According to media reports, SpaceX, Musk’s company, has secretly submitted an application for an initial public offering (IPO) to the U.S. Securities and Exchange Commission. This filing could allow the company to complete its listing as early as July this year.

Insiders say the company plans to raise roughly $40 billion to $80 billion through the IPO. The company’s target valuation may be as high as $1.75 trillion.

If the issuance is completed at the above scale, SpaceX’s IPO this time would far exceed the $1.7 trillion IPO record set by Saudi Aramco in 2019, becoming the largest IPO in global history.

Before this IPO, SpaceX completed a merger with xAI, an artificial intelligence startup under Musk. The deal valued SpaceX at $1 trillion and xAI at $250 billion. This acquisition consolidates the Starship launch business, the Starlink satellite internet business, and AI capabilities under a single entity.

Earlier this month, sources said SpaceX is inclined to list on the Nasdaq, and making it “a core condition to be included in the Nasdaq 100 as soon as possible after listing.”

Big news keeps coming in the commercial aerospace industry

In addition to SpaceX moving into the countdown to listing, the U.S. National Aeronautics and Space Administration (NASA) has also made new progress.

On the evening of April 1 local time, NASA’s next-generation moon rocket, the “Space Launch System,” launched from the Kennedy Space Center in Florida to carry out the crewed lunar-orbit mission “Artemis 2.” This is the first time since 1972 that the United States has sent humans to the Moon.

Domestically, the commercial aerospace sector is also seeing continuous event-driven catalysts.

On the financing front, China Great Wall Industry Aerospace (Zhongke Aerospace) has officially received acceptance for its IPO application, and the raised funds will be used for projects including the development of reusable large launch vehicles. Galaxy Aerospace has completed the IPO instructor filing. In addition, Blue Arrow Aerospace is updating its financial materials, and private rocket companies such as Star River Dynamics, Tianbing Technology, and Xingji Glory are all advancing their IPO processes.

On the industry side, after Hainan built the country’s first commercial aerospace launch site, multiple locations including Ningbo in Zhejiang, Liangshan in Sichuan, and Yangjiang in Guangdong are also actively preparing. The Ningbo government services official website shows that the Ningbo Commercial Aerospace Industry Base project (Phase I site investigation) will begin bidding in April. The project is expected to have a total investment of about RMB 8.66 billion.

On the launch side, Zhongke Aerospace’s Yiqi-2 successfully launched “three satellites in one rocket.” The maiden mission will serve national major strategies and major engineering projects, with unit costs directly catching up to SpaceX. Tianbing Technology’s Tianlong-3 will carry out its maiden launch soon. This rocket is China’s first commercial aerospace liquid rocket expected to achieve near-Earth orbital payload capacity of over 20 tons.

Institutions: A period of resonance between China and the U.S. is about to arrive

“Catalysts at home and abroad converge and land; commercial aerospace is about to accelerate development again.” A team from Founder Securities’ military industry pointed out that 2026 will be the first year of the “15th Five-Year Plan,” and the number of domestic satellite tenders, manufacturing, and launches will rise significantly. Rocket reusability technologies will also achieve breakthroughs. Guided by the strategic goals of building an aerospace power, domestic commercial aerospace is expected to receive further support after the Two Sessions and accelerate development again. Meanwhile, the dense tenders that Star Network and Yuanxin are about to begin will release a large number of orders, bringing core benefits to the relevant companies. The industry is entering a development opportunity characterized by a “two-way” effect of Davis.

The institution also suggests focusing on satellite value growth segments (power systems, laser links, etc.), rocket core components, Star Network and Yuanxin’s core suppliers, and the ground-side opportunities brought by phased completion of integrated network deployment.

In the view of Northeast Securities, as the commercial aerospace industry continues to develop, future industry applications are expected to keep expanding. Segments such as satellite applications, satellite manufacturing, ground equipment, commercial rocket launches, and space computing capacity have significant potential.

Kaiyuan Securities said it is highly optimistic about the resonance between commercial aerospace technology and capital at home and abroad in 2026, and recommends continuing to pay attention to beneficiary companies in areas such as the rocket industrial chain, the satellite industrial chain, and also space computing capacity and space energy.

Multiple shares attracting leveraged fund attention

The Eastmoney concept sector shows that currently in the A-share market there are nearly 300 stocks related to the commercial aerospace concept, with a combined total market cap of nearly RMB 6 trillion. AVIC Chengdu Aircraft Industrial Group ranks first by market cap of about RMB 180.3 billion. Six stocks including Lens Technology, China Satellite Communications, and CETC Blue Sky also each have market caps above RMB 100 billion.

From the beginning of the year to date, 114 commercial aerospace concept stocks have recorded share price gains, accounting for nearly 40%. Besides the newly listed CETC Blue Sky, DINGGU Jichuang leads with a 141% increase. Jiangshun Technology surged 1.3 times to take second place. Changguang Huaxin rose more than 80%. Stocks such as Tengjing Technology, Robotech, Sinopharm ShenYing, and Tianyin Electromechanical all saw gains of over 60%.

On the funds side, data from EastmoneyChoice shows that over the past week, eight commercial aerospace concept stocks received net purchases of leveraged financing exceeding RMB 100 million each. Specifically, China National Mineral Resources was added with leveraged capital of RMB 514 million; Xinwei Communications had financing buyers rush in with RMB 456 million; Shenjian Shares and China Satellite each received net purchases of RMB 263 million and RMB 209 million, respectively. Goldwind Technology, West Materials, Zhenlei Technology, and Hailanxin each saw net financing purchases above RMB 130 million.

In a recent institutional research visit, Xinwei Communications said the company has served North American satellite customers since 2021, and is a main supplier of major components for its ground terminals. It has also expanded to a second North American satellite customer, with products already delivered in batches. In addition, the company has already supplied chips-level thermal conductive and heat-dissipation materials and devices in batches to leading North American consumer electronics customers.

China Satellite covers two major business segments: aerospace manufacturing and satellite applications. The company has capabilities covering end-to-end system design, research and development, integration, and operations. In 2025, the company achieved operating revenue of RMB 6.103 billion, up 18.35% year over year; net profit attributable to shareholders of RMB 35.5567 million, up 27.38% year over year; operating cash flow was RMB 363 million, compared with RMB -317 million in the same period last year; it plans to distribute 10 shares for 0.12 yuan (tax included).

(Source: Eastmoney Research Center)