China Science and Space Technology’s IPO application has been accepted; the successful maiden flight of the Lijian-2 has been completed; and the Aerospace ETF Huaxia (159227) has a high commercial space content of up to 69%.

On March 31, the three major indices of the A-shares market showed divergence, with the Shanghai Composite Index down 0.8%, the Shenzhen Component Index down 1.81%, and the ChiNext Index down 2.7%. The Aerospace ETF Huaxia (159227) declined by 0.4%, with a trading volume of 349 million yuan, a turnover rate of 9.07%, and active trading continued. Its constituent stocks Triangular Defense rose 4.73%, Hailanxin increased 2.74%, Shanghai Hànxùn gained 2.39%, AVIC Shenyang Aircraft rose 2.04%, and stocks like Aerospace Electronics, Guanglian Aviation, and Guobo Electronics also followed the upward trend. From the capital perspective, the Aerospace ETF Huaxia (159227) experienced a net inflow of 601 million yuan over the past 20 trading days, with the latest scale reaching 3.79 billion yuan, maintaining the top position among peers.

In terms of news, on March 31, the application for the Sci-Tech Innovation Board IPO of China Academy of Space Technology was accepted by the Shanghai Stock Exchange, indicating that leading commercial rocket companies are accelerating their capitalization process. Recently, China Academy of Space Technology independently developed the LiJian No. 2 medium-large liquid carrier rocket, which successfully completed its maiden flight, accurately delivering payloads such as the Qingzhou prototype test spacecraft into the designated orbit. As a result, the total number of satellites successfully launched by China Academy of Space Technology has increased to 86, and the launch of the Qingzhou prototype test spacecraft has been achieved, with the total payload mass sent into space approaching 16 tons.

Zheshang Securities pointed out that commercial spaceflight, as a strategic new high ground of new productive forces, is not only a key high ground in the competition among major powers for scarce space resources and building autonomous and controllable space infrastructure, but also possesses broad market potential and profound industrial value. It is driving the space industry from government-led to comprehensive commercialization, forming a virtuous cycle of technological, cost, and market mutual promotion. Currently, policies, industry, and capital are resonating strongly, and 2026 is expected to become a crucial year for China’s commercial spaceflight to achieve significant development. Policy support continues to increase, capital investment and financing remain high, focusing on core tracks. The national teams and private enterprises are working together, forming a complementary competitive landscape, with technological breakthroughs and capacity expansion ongoing.

Aerospace ETF Huaxia (159227) closely tracks the Guozhen Aerospace and Aviation Industry Index, with a commercial space content of up to 69%, making it the market’s leading pure-play commercial space ETF. It comprehensively covers key segments such as rocket launches, satellite manufacturing, and aerospace electronics, including core targets like space development, China Satellites, aerospace electronics, and AVIC airborne systems, perfectly aligning with the “air-space integration” strategic direction. The first-level military industry sector accounts for as high as 98.75%, making it the index with the highest “military purity” in the market. The product has ample liquidity, ranks among the top in trading volume among similar ETFs, and offers a one-click layout for opportunities such as AI + space, commercial space launch scale, and space computing power, serving as a convenient core tool to grasp the high-growth potential of the commercial space sector.

Daily Economic News