Key Points
- Chinese rocket developer LandSpace is filing to go public on Shanghai’s STAR Market.
- In 2023, the company was the first in the world to launch a methane-powered rocket, ahead of SpaceX.
- LandSpace is now developing a reusable rocket, the Zhuque-3, aiming for a first launch in 2025.
- If successful, it would be only the second company after SpaceX to operate a reusable rocket.
Chinese rocket developer LandSpace Technology, a major rival to U.S. companies like SpaceX, is planning to go public. According to a document from China’s securities regulator, the company is seeking to list on Shanghai’s tech-focused STAR Market. The filing did not say how much money LandSpace hopes to raise.
The Beijing-based company made a name for itself last year when it became the first in the world to launch a methane-liquid oxygen rocket, beating American rivals like Elon Musk’s SpaceX and Jeff Bezos’s Blue Origin to the punch.
Now, LandSpace is working on an even bigger goal: a reusable rocket. The company recently completed a key test for its Zhuque-3 rocket and is targeting its first launch in the second half of 2025.
If successful, LandSpace would become only the second company in the world, after SpaceX, to launch a reusable rocket, which is a game-changer for making spaceflight cheaper and faster.
Founded in 2015, LandSpace already has strong financial backing. Its investors include the major venture capital firm HongShan (formerly Sequoia Capital China) and several state-backed Chinese funds.
