This article only represents the author's own views.
Elon Musk’s SpaceX and other space ventures have already reached a feat that China has yet to replicate, namely, turning rockets, satellites and space-based services into a financial story big enough to capture global investor attention. Mastering that skill is becoming increasingly important in China as a growing number of domestic space startups head toward public markets. The question now is no longer who can get something into orbit, but rather who can build a profitable business doing it.
That’s what makes the latest move by satellite startup Spacety worth watching. The Changsha-based company earlier this month disclosed 1.3 billion yuan ($190 million) in fresh funding. It also entered IPO tutoring in early February with the Hunan securities regulator, a process that represents the first stage of moving towards an IPO on China’s domestic A-share markets, according to a posting by one of its investors.