On February 7, domestic commercial aerospace core supporting company Jiutianxingge announced the completion of the A++ round of strategic financing of over 100 million yuan, jointly led by Beijing Commercial Aerospace and Low Altitude Economic Industry Investment Fund and New Materials Industry Investment Fund.<\/p>\n
01<\/p>\n
A double ‘bet’ from government funds<\/p>\n
1\u3001<\/p>\n
“National team” enters the game<\/p>\n
The investors in this round are all industrial funds led by the Beijing Municipal Government, focusing on the three major fields of commercial aerospace, low-altitude economy and new materials. In recent years, Beijing has clearly proposed to create an industrial pattern of “South Arrow and North Star”. As a core enterprise in the aerospace industry chain, Jiutianxingge’s financing is undoubtedly a strong response to the regional strategy.<\/p>\n
The investment logic of government funds is not only financial returns, but also the control of key nodes in the industrial chain.<\/p>\n
Picture: Two major industrial funds invest in Jiutianxingge Source: Aiqicha<\/p>\n
2\u3001<\/p>\n
Fund investment direction<\/p>\n
Jiutianxingge plans to use this round of funds for the research and development of liquid launch vehicle tank technology and the expansion of its production base in Yantai, Shandong. Its core product, the normal temperature\/low temperature propellant tank, is the “heart” component that determines the rocket’s carrying capacity and has extremely high technical barriers. The company has previously made breakthroughs in the high-strength aluminum alloy spin forming process, which reduces the weight of the tank by more than 15%, directly improving the rocket’s payload capacity.<\/p>\n
Picture: Jiutianxingge\u2019s first non-hole spinning bottom successfully rolled off the production line Source: Jiutianxingge 02 The \u201chard core\u201d breakthrough behind domestic substitution 1. Solve the \u201cstuck neck\u201d problem Traditional rocket tanks rely on manual welding, which results in a long production cycle and high cost. Jiutianxingge realizes automatic assembly of storage boxes through intelligent production lines, increasing efficiency by three times and achieving a yield rate of over 98%. The reusable tank technology it developed directly addresses the pain points of “cost reduction” for commercial rockets, and coincides with the technical path of SpaceX’s “Falcon” rocket.<\/p>\n
2. Dual-base model: Beijing R&D + Shandong manufacturing<\/p>\n
Beijing Headquarters: Relying on Zhongguancun\u2019s aerospace innovation resources and focusing on cutting-edge technology research;<\/p>\n
Haiyang Base: The first phase of the project has been put into production, the second phase has entered the rectification and acceptance stage, and the foundation construction of the third phase barrel section\/box bottom factory building has been completed. In the future, the base’s business layout will be able to achieve the supporting capacity of more than 60% of the core subsystems of single-engine rockets.<\/p>\n
Picture: Jiutianxingge general manager Wang Zhifeng introduces the base layout Source: Jiutianxingge 3. Process innovation Jiutianxingge has conquered core technologies such as large-scale spinning molding and thin-wall deformation control to achieve stable mass production of liquid storage tanks, filling the gap among domestic private enterprises.<\/p>\n
4. Material substitution<\/p>\n
self-research<\/p>\n
Polyurea insulation material<\/p>\n
Replacing the traditional glass fiber layer, this material has a tensile strength of \u226515MPa and an elongation at break of \u2265300% in a -60\u00b0C environment, significantly improving the adaptability to low-temperature environments. The high-pressure airless spray process is used to simplify the production process and shorten the storage box preparation time.<\/p>\n
03<\/p>\n
Commercial aerospace enters the “mass production era”<\/p>\n
1. Policy dividends + demand explosion<\/p>\n
In 2024, commercial aerospace will be included in the government work report, and the market size is expected to exceed 2.5 trillion yuan in 2025. As the GW constellation and Qianfan constellation network deployment accelerates, reusable rockets are urgently awaiting their first flights, and core component manufacturers will usher in a golden window period.<\/p>\n
Picture: Zhuque-3 vertical take-off and landing flight test arrow Source: Aviation Knowledge<\/p>\n
2\u3001<\/p>\n
Differentiated survival under competition for capital<\/p>\n
Different from the entire aerospace companies such as Interstellar Glory and Blue Arrow Aerospace, Jiutianxingge is positioned as an “aerospace manufacturing service provider”<\/p>\n
, has reached cooperation with 80% of domestic private rocket companies to provide standardized tank modules. This model avoids the high risks of whole-arrow R&D and becomes a \u201ccertain target\u201d in the eyes of investors.<\/p>\n
Picture: Jiutianxingge helps Gravity One Source: Oriental Space<\/p>\n
04<\/p>\n
Commercial aerospace\u2019s \u201cChinese-style breakthrough\u201d<\/p>\n
1\u3001<\/p>\n
Large-scale delivery capabilities need to be verified<\/p>\n
Currently, domestic commercial rocket companies are generally in the experimental stage. Once they enter the high-frequency launch cycle, Jiutianxingge needs to ensure the stable delivery of hundreds of tanks, which places extremely high requirements on supply chain management and process consistency.<\/p>\n
2. Can reusable technology be able to overtake in corners?<\/p>\n
The reusable storage boxes being developed by Jiutianxingge need to overcome problems such as fatigue resistance and low-temperature sealing of composite materials. The Beijing New Materials Fund\u2019s investment may introduce cutting-edge material technology resources such as graphene and ceramic base to it.<\/p>\n
Summarize<\/p>\n
The financing story of Jiutianxingge reflects the transformation of China’s commercial aerospace industry from “building rockets” to “building an ecology”: government funds guide breakthroughs in key links, private enterprises focus on innovation in subdivided areas, and regional collaboration amplifies manufacturing advantages.<\/p>\n
When rocket storage tanks can be mass-produced in a standardized manner like new energy vehicle batteries, China\u2019s dream of \u201cpopularizing the space economy\u201d may no longer be far away.<\/p>\n
Find the commercial space sector<\/p>\n
“Startup”<\/p>\n
We will gradually launch<\/p>\n
commercial aerospace startups,<\/p>\n
The company with the most investment potential and innovation<\/p>\n
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