1. Basic information
Shanghai Blue Arrow Hongqing Technology Co., Ltd. was established on November 30, 2017, with a registered capital of RMB 22,342,538 and a paid-in of RMB 13,380,263. The actual controller is Zhang Changwu, and the final beneficial share is 31.7772%. The largest shareholder is Blue Arrow Aerospace Technology Co., Ltd., with a total direct and indirect shareholding of more than 67%. Blue Arrow Aerospace Technology Co., Ltd. is a commercial rocket company (for details, see “Decoding how Blue Arrow Aerospace Technology Co., Ltd., the world’s first liquid oxygen methane rocket successfully entered orbit”).
2. Equity Structure
serial number
Shareholder name
Investment ratio
Amount of capital subscribed
1
Blue Arrow Aerospace Technology Co., Ltd.
31.3304%
700
RMB 10,000
2
Shanghai Xingwei Haohan Enterprise Management Partnership (Limited Partnership)
27.6633%
RMB 6.180674 million
3
Beijing Kunlun Internet Intelligent Industry Investment Fund Partnership (Limited Partnership)
10%
2.234254 million yuan
4
Shanghai Chonghang Haohan Information Technology Consulting Center (Limited Partnership)
8.5253%
1.904762 million yuan
5
Ningbo Lanxi Innovation Equity Investment Partnership (Limited Partnership))
5.9203%
1.322751 million yuan
6
Hainan Yangpu Qianyuan Tianqing Private Equity Partnership (Limited Partnership)
5.9203%
132.275
RMB 10,000
7
Maanshan Kewei Cornerstone Equity Investment Partnership (Limited Partnership)
5.427%
1.212522 million yuan
8
Tianjin Huacheng Zhifei Venture Capital Partnership (Limited Partnership)
1.809%
40.4174
RMB 10,000
9
Liu Xinyuan
1.25%
27.9282
RMB 10,000
10
Shanghai Da Zero Bay Innovation Source Private Equity Partnership (Limited Partnership)
1.25%
27.9282
RMB 10,000
11
Tianjin Huacheng Zhifei Partner Venture Capital Partnership (Limited Partnership)
0.9045%
20.2087
RMB 10,000
Partnerships directly related to the largest shareholder (Blue Arrow Aerospace Technology Co., Ltd.): Shanghai Xingwei Haohan Enterprise Management Partnership (Limited Partnership) (holding 27.6633% of the shares), Shanghai Chonghang Haohan Information Technology Consulting Center (Limited Partnership) (holding 8.5253% of the shares).
1.Shanghai Xingwei Haohan Enterprise Management Partnership (Limited Partnership)
serial number
Shareholder name
Investment ratio
Amount of capital subscribed
1
Blue Arrow Aerospace Science and Technology Industry Development (Beijing) Co., Ltd.
99%
9,900 yuan
RMB
2
Wan Jun (legal representative of Shanghai Blue Arrow Hongqing Technology Co., Ltd.)
1%
0.01 million yuan
RMB
2.Shanghai Chonghang Haohan Information Technology Consulting Center (Limited Partnership)
serial number
Shareholder name
Investment ratio
Amount of capital subscribed
1
Blue Arrow Aerospace Science and Technology Industry Development (Beijing) Co., Ltd.
99%
9,900 yuan
RMB
2
Yan Xinjian (Director of Blue Arrow Aerospace Technology Co., Ltd.)
1%
0.01 million yuan
RMB
3. Introduction to the actual controller
Zhang Changwu: Graduated from the Department of Finance of Tsinghua University and worked at HSBC and Banco Santander in Spain. Under the influence of Wang Jianmeng, the former senior engineer of aerospace system engineering of China Satellite Launch Measurement and Control System Department, he gradually came into contact with and understood the field of commercial rockets, and founded Blue Arrow Aerospace Technology Co., Ltd. in 2015.
4. Company layout
1. Shanghai Blue Arrow Hongqing Technology Co., Ltd. Beijing Branch: established on 2023-03-02, and the person in charge is Wan Jun.
2. Xi’an Branch of Shanghai Blue Arrow Hongqing Technology Co., Ltd.: established on 2023-03-13, and the person in charge is Wan Jun.
3. Wuxi: Hongqing Technology Satellite Manufacturing Project.
5. Financing situation
In 2022, Shanghai Blue Arrow Hongqing Technology Co., Ltd. completed angel round financing, with investors including Lanxi Capital, Country Garden Venture Capital and Shaanxi Financial Holding Capital. On May 11, 2024, Hongqing Technology completed the Pre-A+ round of financing. The amount was not announced. Investors include Kunlun Capital and Galaxy Innovation Capital. 6. Latest information Shanghai Blue Arrow Hongqing Technology Co., Ltd. submitted an “Advance Publication Information (API)” filing to (ITU, hereinafter referred to as “ITU”). The document mentioned a satellite constellation networking plan called “HONGHU-3” (Chinese “Honghu 3”), which will launch a total of 10,000 satellites in 160 orbital planes.
7. Personal opinion
Viewpoint: 1. The “Honghu-3” constellation is mainly focused on occupying frequency and maintaining orbit. In the context of the existing “GW Plan” and “G60 Constellation”, the state supports Hongqing Technology to declare orbital position to the ITU, which shows the country’s determination to develop satellite Internet.
2. The purpose of submitting an “Advance Publication Information (API)” filing to ITU is to notify ITU and Member States of its intention to launch a satellite network or system so that others can review the proposed satellite network to assess potential interference with their existing or planned satellite systems. For a company that submits satellite launch application materials, the number of satellites it ultimately launches may not be the same as the number applied for. “It can be said that there is no necessary connection between the two.
3. The “Honghu-3” constellation is the third mega-constellation with more than 10,000 satellites after Star Network’s “GW Plan” and Yuanxin’s “G60 Constellation”.The implementation entity of the “GW Plan” is China Star Network Group, which is directly funded by the state and has a registered capital of 10 billion yuan;The implementation entity of the “G60 Constellation” is Shanghai Yuanxin Satellite Technology Co., Ltd., which is controlled by the Shanghai State-owned Assets Supervision and Administration Commission and has completed 6.7 billion yuan in Series A financing. The implementation entity of the “Honghu-3” constellation is Hongqing Technology. Different from the “GW Plan” and the “G60 Constellation”, the company behind Hongqing Technology is Blue Arrow Aerospace Technology Co., Ltd., which is a private enterprise. Although Hongqing Technology has no state-owned assets background, its biggest advantage is the launch capability of its major shareholder Blue Arrow Aerospace. From the perspective of growth path, Blue Arrow Aerospace is closest to Space-X. Blue Arrow Aerospace is targeting Space-X, and “Honghu 3” is targeting Starlink.
