According to the CITIC Securities Research Report, on December 26, 2025, the Shanghai Stock Exchange issued the “Guidelines for Commercial Rocket Companies to Apply the Fifth Set of Listing Standards on the Science and Technology Innovation Board”, marking the official opening of the channel for commercial rocket companies to enter the capital market and the standards are fully clarified. Under the policy's emphasis on “undertaking national tasks and participating in national engineering projects,” “reusable technology,” and “industry status,” the IPO process of leading private commercial rocket companies may speed up. As a “launch pad” for commercial space, the industrialization process of commercial rockets will directly drive the explosion of demand in upstream and downstream processes such as satellite manufacturing, ground equipment, and space applications.

According to the CITIC Securities Research Report, on December 26, 2025, the Shanghai Stock Exchange issued the “Guidelines for Commercial Rocket Companies to Apply the Fifth Set of Listing Standards on the Science and Technology Innovation Board”, marking the official opening of the channel for commercial rocket companies to enter the capital market and the standards are fully clarified. Under the policy's emphasis on “undertaking national tasks and participating in national engineering projects,” “reusable technology,” and “industry status,” the IPO process of leading private commercial rocket companies may speed up. As a “launch pad” for commercial space, the industrialization process of commercial rockets will directly drive the explosion of demand in upstream and downstream processes such as satellite manufacturing, ground equipment, and space applications.