China commercial aerospace
1. The test run of the Lijian-2 secondary power system was a complete success
Recently, the test run of the second-stage power system of the Lijian-2 liquid launch vehicle was a complete success at the China Aerospace Liquid Power System Test Center.
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This test run marks the completion of large-scale ground tests of the power system in the development phase of the Lijian-2 project, and it is ready to move to the flight test phase.
2. Traveler completed tens of millions of angel+ rounds of financing
Recently, the space tourism start-up company Crosser completed tens of millions of yuan in angel + round financing, jointly invested by Zhongtian Huifu and Binfu Capital. The funds will be used to accelerate the engineering development of the Crosser 1 (CYZ1) suborbital manned spacecraft and the production of the first test ship.
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This financing comes only 6 months after its angel round financing. After the angel round of financing, Traverser quickly achieved many developments, including my country’s first ground verification of active heat protection technology for manned spacecraft, research and development of intelligent flight control computers for manned spacecraft, and software and hardware matching testing of computers and improved prediction-correction guidance algorithms.
3. Chuangzhi Lianheng announced the completion of a new round of financing
Recently, Sichuan Chuangzhi Lianheng Technology Co., Ltd. announced the completion of a new round of financing. Following the A+ round led by SDIC Venture Capital, it received state-backed support and Beichuang invested in the investment. The specific amount was not disclosed.
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Chuangzhi Lianheng was established in Chengdu in 2018, focusing on the field of satellite-to-ground communications. It has on-board communication payloads, gateway station basebands, user terminals and other products. In the national satellite Internet construction project, it undertakes a number of key tasks. Its satellite and ground products participated in my country’s first direct-connect broadband video call trial based on the 5G NTN standard based on the 5G NTN standard in May this year.
4. Xingyao Guangyu completed Pre-A round of financing
Recently, Xingyao Guangyu (Changzhou) Technology Co., Ltd. (hereinafter referred to as “Xingyao Guangyu”) announced the completion of Pre-A round of financing. The financing amount was not disclosed. This round of financing was led by Guohai Innovation Capital.
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Xingyao Guangyu was established in December 2022. The founder is Wang Jianyu, an academician of the Chinese Academy of Sciences and a famous space optical remote sensing expert. This financing comes only 3 months after its angel round of financing in March.
5. Jigang Group established aerospace information industry fund
Recently, the “Jigang Construction Investment Air and Space Industry Investment Fund (Jinan) Partnership (Limited Partnership)”, led by Jinan Private Equity Fund Management (Tianjin) Co., Ltd. and jointly launched by Jinan CDB Equity Investment Fund Management Co., Ltd., Jiantou Investment Co., Ltd. and other institutions, has officially completed industrial and commercial registration, with a fund scale of 205 million yuan.
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Jinan Iron and Steel Construction’s aerospace industry investment fund is an important measure for Jinan City to develop the aerospace information industry. After its implementation, the fund will focus on key areas such as satellite manufacturing, remote sensing applications, and low-altitude economy, and accelerate the implementation and incubation of high-quality projects. It aims to focus on building 9 characteristic parks by 2027.
international commercial aerospace
1. The Falcon 9 launch vehicle successfully launched the manned mission Axiom 4
At 14:31 on June 25, 2025, Beijing time, SpaceX successfully launched the manned mission Axiom 4 using a Falcon 9 launch pad from the SLC-39A launch pad at the Kennedy Space Center.
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This launch is the 78th launch of Falcon 9 and the 18th manned mission of Dragon spacecraft.
2. The SLS rocket’s new solid rocket was speculated to explode during the test ignition.
The new solid booster prepared by Northrop Grumman for the SLS rocket burned out and exploded during the test ignition. The test ignition originally planned at 2:20 ended at 1:50 due to the burnout and explosion of the nozzle.
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The new booster is said to be planned for use on Artemis 9 and subsequent missions, but rather than whether the new solid booster will affect the progress of the Artemis 9 mission, NASA is now more concerned about whether the SLS rocket and the Artemis program will be suspended at the moment.
3. Atlas V successfully launched the second set of satellites of the Kuiper constellation
On June 23, 2025, Beijing time, United Launch Alliance (ULA) successfully launched the second set of satellites of the Kuiper constellation using an Atlas V rocket from the Cape Canaveral Space Force Base. This launch is the 138th space launch in the world in 2025, the 89th for the United States (the 14th this month), the second for United Launch Alliance, and the second for Astros V.
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This launch was two months after Kuiper’s first mission. During this period, the second launch also experienced a delay due to rocket technical issues. Before Blue Origin’s New Glenn was successfully recovered, the Kuiper project still had a long way to go to achieve rapid networking.
