Today we are not going to talk about “Old Man Beng”, but we will go deep into the commercial aerospace industry to investigate: What exactly does Zhui Mi do in the commercial aerospace track?<\/p>\n
01<\/p>\n
Yu Hao and his 2 million satellites<\/p>\n
In March 2026, at the “AWE2026 Chip Industry Summit Forum” co-sponsored by Chuimi Technology and CCTV Finance, Chuimi threw its own breakthrough to the commercial aerospace industry – the “Yotai Series Computing Satellites”. This series of satellites plans to launch 2 million in the future, deploy computing nodes through satellites, and use the space environment to solve energy and heat dissipation problems.<\/p>\n
The news quickly aroused widespread discussion in the industry. Many people\u2019s first reaction is: Is this crazy? Some people even directly said: This is a PPT aerospace, it is a hype, and it is a scam to defraud investors of their money.<\/p>\n
However, after communicating with many insiders close to Zhuimi\u2019s aerospace business, Nihao Space came to a conclusion: Zhuimi is really not PPT Aerospace.<\/p>\n
02<\/p>\n
How does Zhuimi do aerospace?<\/p>\n
Chasing aerospace is not a direct end, it is more like the incubator model of Xiaomi’s ecological chain. Many people have heard about the “200+” business units (BUs) within Zhuimi. These business units belong to different business clusters, including the aerospace business. The internal code name of Zhuimi is “Incubator No. 10.” Next, it is divided into many BUs, and these BUs have corresponding corporate entities.<\/p>\n
Among them, there are at least four core aerospace businesses: rockets (Star Shuttle Technology), satellite Internet terminals (Nebula Tianluo), space computing power (Deep Space Byte), and entire satellite manufacturing (planning stage, no registered entity yet). These BUs are not directly held by Zhui Mi, but are placed in the names of employees, affiliated funds or financial investors.<\/p>\n
Another thing that many outsiders don\u2019t know is that pursuing entry into the commercial aerospace field did not just start recently. As early as 2019, Yu Hao was already involved in commercial aerospace projects. He initially focused on the rocket business. At that time, he talked to many senior people in the industry, including the founders of some well-known commercial rocket companies. But later we couldn’t reach an agreement due to issues such as cooperation methods and routes.<\/p>\n
In the end, Yu Hao chose to do it on his own – many people thought that Zhumi came in to take advantage of the recent aerospace fire, but in fact, Yu Hao had been preparing for this for many years.<\/p>\n
03<\/p>\n
How is Zhumi Aerospace doing?<\/p>\n
Let\u2019s talk about the rocket business first. Lishui Zhuichuang Zhirui Venture Capital, which holds shares in Zhuimi Mengchuang through its wholly-owned subsidiary Zhuimi Mengchuang, holds shares in a rocket company called \u201cXingsuo Technology\u201d. The company was established in 2024, registered in Yizhuang, and has a team of nearly 200 people. The overall business capabilities of Xingsuo Technology’s team are relatively solid. Many engineers come from well-known domestic commercial rocket companies. Their business level has also been affirmed by people familiar with the matter. It is a company that is capable and serious about making products.<\/p>\n
Next is Nebula Tianluo, who is responsible for the satellite Internet terminal business. The company’s business focuses on low-orbit satellite Internet terminal equipment and provides satellite Internet solutions for ground users. This is the “consumer-grade terminal” product that Chumi is best at, and it is also the key to the implementation of the satellite Internet industry in the future.<\/p>\n
But the biggest problem with this business at present is that China\u2019s satellite Internet constellation is still in the early stages of construction and does not have service capabilities. Therefore, most of the satellite networks that Nebula Tianluo’s equipment is connected to are still provided by high-orbit satellites, and there are many problems of unsuitable functions. The most applications are in the low-altitude field, and customers are also looking for drone companies to incubate and invest in.<\/p>\n
The company responsible for space computing power is called Deep Space Byte, which is the main body pursuing “2 million computing power satellites”. But in fact, Zhuimi does not really want to launch 2 million satellites. On the contrary, according to Nihao Space\u2019s understanding, Deep Space Byte has no specific launch plan: there is no corresponding frequency application, no clear constellation engineering plan, and no large-scale satellite manufacturing plan.<\/p>\n
But they are not without progress. In May 2026, Deep Space Byte developed its first edge computing computing power box “Xiaoyuan 1”. The computing power module is initially planned to be launched into space for on-orbit verification in October this year.<\/p>\n
The last piece is the whole star business. But what Zhumi wants to do is not a computing satellite, but a remote sensing satellite that is currently the most popular in the commercial aerospace industry. Specifically, it is a hyperspectral satellite in remote sensing. However, this business is still in the planning stage as a whole. The person in charge has an industry background but the team is still being built.<\/p>\n
In addition, Chuimi also had many attempts in the aerospace field, such as space mining (Starfinding Lightyear), which was later discontinued because it was too expensive; such as space situational awareness and making astronomical telescopes, but later this business was adjusted back to the consumer products department.<\/p>\n
04<\/p>\n
Is it reliable to use consumer electronics thinking to do aerospace?<\/p>\n
At this point, you will find that pursuing aerospace is actually based on consumer electronics market thinking, which is a typical mass communication strategy: first package a huge market prospect, then quickly raise funds, form a team, integrate resources, and seize the market.<\/p>\n
As the saying goes, “Those who seek the top will get the bottom, those who seek the bottom will get the bottom, and those who look for the bottom will get nothing.” That’s why a top student in the Department of Aeronautics and Astronautics of Tsinghua University openly shouted the slogan of launching 2 million satellites.<\/p>\n
But is such a strategy really suitable for commercial aerospace? Hello Space begs to differ.<\/p>\n
What the aerospace industry fears most is that stories run ahead of projects. Because this is an industry that is extremely heavy on engineering, heavy on verification, and heavy on reliability. The cost of rapid iteration of commercial aerospace is not hundreds or tens of millions, but hundreds of millions or billions. In a country like China with a relatively late development of the aerospace industry, no company can trial and error like SpaceX does when building starships. Even SpaceX faced a huge bankruptcy crisis in 2015 due to launch failures.<\/p>\n
05<\/p>\n
What does Zhumi bring to commercial aerospace?<\/p>\n
In communicating with people in the industry on the topic of pursuing entry into the commercial aerospace field, we perceived two apparently opposite emotions. Some people think that Zhuimi is too high-profile and is all about marketing; others think that although Zhuimi is immature, it does bring something to commercial aerospace that the industry itself is missing.<\/p>\n
So what does China\u2019s commercial aerospace industry lack?<\/p>\n
Hello Space has mentioned in articles more than once that what the industry lacks is not technology, manufacturing, or the market, but To C thinking. It is the consumer electronics capabilities that Chumi is best at, resource integration, and product-based operations. It is how to reconstruct the service logic of the entire industry from the user’s perspective. It is the ability to truly provide useful satellite data to users who really need it in a timely manner.<\/p>\n
In the past, China\u2019s commercial aerospace industry was more about \u201caeronautical entrepreneurship\u201d. But now another group of people is beginning to appear: people from consumer electronics, AI, robots, the Internet, new energy, automobiles…people in these industries are beginning to enter aerospace in large numbers. Their thinking is completely different from that of traditional astronauts. The biggest conflict in China’s commercial aerospace industry in the future may no longer be the conflict between the “national team” and “private companies”, but the conflict between “traditional aerospace logic” and “mass consumption logic.” And Zhuimi is just the first company to really bring this conflict to the table.<\/p>\n
Conclusion<\/p>\n
Whether the future pursuit will be successful or not, no one knows now. But one thing is already obvious: China’s commercial aerospace industry has begun to enter the era of “cross-industry players”.<\/p>\n","protected":false},"excerpt":{"rendered":"
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