Who is the leader in China’s private rocket field? In Huangpu Military Academy, we introduced the industry changes in the development process of China’s commercial rocket field in the past 10 years through the flow of core talents in the industry.<\/p>\n
Today we will talk about: Jiutian MSI, the Whampoa Military Academy in China\u2019s commercial satellite field.<\/p>\n
01<\/p>\n
One “star” falls, ten thousand stars rise<\/p>\n
The “Whampoa Military Academy” in China’s commercial satellite field is also China’s first private satellite company, which is “Jiutian MSI”. In 2015, Jiutian MSI was established in Beijing. There were three original founders: Xie Tao from aerospace technology, Peng Yuanyuan, a former CCTV reporter, and Huang Zhong from the Youth League Central Future Network. With Xie Tao being listed as the “untrustworthy executor”, Jiutian MSI was also reported to be in full salary arrears. This former leader in China’s commercial satellite industry has gradually faded out of public view, and the company’s core teams have left and established their own businesses. Two founders besides Xie Tao, Peng Yuanyuan and Huang Zhong, founded Xingyi Lianxin and Xingchen Wanqian respectively. Among them, Xingyilianxin was jointly established by Peng Yuanyuan, the former founder of Jiutian MSI, and Zhang Zhenxing, the former vice president of Jiutian MSI, mainly engaged in the research and development of satellite communication payloads; Huang Zhong, the founder and chief education officer of Jiutian MSI, quit the satellite industry and founded Xingchen Wanqian to engage in aerospace science education. Also leaving from Jiutian MSI is Du Yuanhui, assistant to Xie Tao, the founder of Jiutian MSI. As a co-founder, he founded Microspace, engaged in the research and development of aerospace electromechanical components; Wang Jiawei, the former vice president of Jiutian MSI, founded Lanlingxington, engaged in the research and development of satellite Bluetooth terminals. Not only that, among the seven CTOs that Jiutian MSI has held, five have left the company to start their own businesses. These include: former Jiutian MSI CTO Liu Likun founded Zhixing Space; former Jiutian MSI CTO Liu Xingliang founded Tianfu Gaofen; former Jiutian MSI CTO Xu Jiakang and former Jiutian MSI Vice President Li Yuan co-founded Penghu Wuyu; former Jiutian MSI CTO Feng Lang founded Taiyu Star; former Jiutian MSI CTO Zhang Yabin founded Juntian Aerospace as a co-founder. In addition, executives who have left MSI include Dong Lu, the former director of MSI\u2019s strategic development department who joined EarthSatellite, and Wang Yabo, the former COO of MSI Shanghai who is now the senior vice president of Nationstar Aerospace. It can be said that the “astronauts” who left MSI are all over China’s commercial satellite field, and they are the well-deserved “Whampoa Military Academy” in China’s commercial satellite field. <\/p>\n
02<\/p>\n
What did Jiutian MSI do wrong?<\/p>\n
The failure of Jiutian MSI is the inevitable outcome of the times. It brings together almost all the problems that startups will encounter. The first is the issue of shareholding structure. Since at the beginning of the equity design, there was no equity share reserved for technical personnel, the core technical team was unable to share interests during the company’s rapid development, and the team cohesion was insufficient. This was also the direct reason for the departure of the seventh CTO of Jiutian MSI. Second is the management issue. It\u2019s not that the management skills of Jiutian MSI\u2019s founding team are poor, but that Jiutian MSI has developed too fast. As China’s first private satellite company, Jiutian MSI’s valuation soared to 2.4 billion in the four years after it received angel round financing in 2016. In 2018, it received three rounds of 100 million yuan in financing in a row. Its business covers aerospace science popularization, satellite manufacturing, and communication constellation operations. Explosive development and flaws in equity design have laid huge hidden dangers for company management. Finally, there are business issues. In February 2018, Jiutian MSI launched the first satellite “Youth Star 1” and defined this satellite as my country’s first educational sharing satellite. It jointly launched the “China Youth MSI Project” with the China Soong Ching Ling Foundation, the China Association for Science and Technology and the China Education Society to promote the popularization of aerospace education. At the same time, this satellite is also responsible for tasks such as space-to-Earth imaging experiments and Internet of Things user link verification. In December 2018, MSI launched the Ladybug series of satellites to verify the key technologies of the satellite IoT system, and in 2019 proposed a plan to build a 72 IoT satellite constellation. But this plan was never implemented. The reason is that Jiutian MSI did not deploy low-Earth orbit and communication frequency resources in the early stages of the company’s development. After the release of the star network plan, Jiutian MSI completely lost the opportunity to become a constellation operator. Nine days after three rounds of financing in 2018, MSI’s market value soared to 2.4 billion. How can it support its huge market value and carry out subsequent financing as a satellite manufacturer? Jiutian MSI could only choose to continuously expand its business horizontally, so Jiutian MSI chose to expand aerospace education and science. To this end, Jiutian MSI established a subsidiary, Jiutian Future, and built the No. 9 Universe and Aerospace Science Popularization Research Base in Songzi City, Jingzhou, Hubei Province. Later, it opened its first branch, the No. 9 Universe Guizhou Sky Eye Museum, in Guizhou. In addition to the above-mentioned businesses, Jiutian MSI also publicly stated that it would launch a deep space mission of an asteroid probe, but then nothing happened. Jiutian MSI has also established R&D centers in Beijing, Shanghai, and Chengdu, and established satellite intelligent manufacturing bases in Yibin Land Satellite Load Manufacturing Base and Tangshan. Education, horoscopes, final assembly, supply chain and even scientific research… In order to maintain its valuation, Jiutian MSI has tried a lot in business, but the final result is that everything is done well and everything is loose. Coupled with problems such as turmoil in the core technical team and hidden management problems, Jiutian MSI inevitably declined in the end. <\/p>\n
03<\/p>\n
“Common problem” in the industry<\/p>\n
In fact, not only Jiutian MSI, but also the entire Chinese commercial satellite industry so far has the same problem as Jiutian MSI: profitability difficulties have led to a large number of horizontal business extensions. Take the most well-known domestic satellite company Changguang Satellite as an example. In addition to being the operator of the Jilin-1 remote sensing constellation, Changguang is also a well-known domestic overall satellite manufacturer, supporting provider in the field of optical remote sensing payloads, and a remote sensing application service provider. Aerospace Hongtu, with remote sensing application services as its core business, established Tianzhang Satellite together with Hebi to participate in satellite assembly and manufacturing. In addition, the aerospace ambition also plans the remote sensing satellite constellation Nuwa Constellation, with 12 satellites currently in orbit. This situation is especially common among leading commercial satellite companies, including Galaxy Aerospace, Zero Gravity Space, and Tianyi Research Institute, which all proposed or participated in satellite constellation plans in their early stages of establishment. As a leading company in the industry, it seems not difficult to understand that in order to establish deeper industry barriers, it is deeply involved in the upstream and downstream of the industry. However, in more mature industries such as automobiles, OEMs are more engaged in the research and development of core components, and there are almost no hands-on manufacturing supporting products or applications. In the past 10 years, the development of China’s commercial satellite field has made great progress. However, due to factors such as insufficient demand, losses and financing are still the main problems that the entire industry needs to face. As a former leader in this field, Jiutian MSI has explored various development paths for the industry such as government-enterprise cooperation and aerospace science popularization. How to quickly complete the closed loop of satellite applications and continuously reduce application costs is the top priority that the entire commercial satellite industry needs to explore in the future. <\/p>\n
Summarize<\/p>\n
The fall of Jiutianweixing is the limitation of its own development and the tears of the times. The fallen Jiutian MSI has provided talents to China’s commercial satellites. When China’s commercial aerospace industry becomes “starry” in the future, I wonder if anyone will still remember this former “star.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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