The capitalization process of commercial aerospace companies is accelerating, and the restructuring of the supply chain is crucial for cost reduction in commercial aerospace.

April 24 is the 11th China Space Day, coinciding with the 70th anniversary of the establishment of China's aerospace industry. The China National Space Administration recently clarified at the 2026 "China Space Day" press conference that commercial space activities will be incorporated into the overall national aerospace development plan, promoting the industry to transition from the stage of technology verification to the stage of engineering application and industrialization layout, setting a new course for the development of China's commercial space industry in the next decade. In 2026, China is expected to launch more than 100 times throughout the year, with over 60 commercial launches accounting for more than 60%, and private rockets undertaking more than 30 launches, marking the official start of the "year of mass production" for commercial space. With the continuous release of policy dividends, the capitalization process of commercial space enterprises is accelerating comprehensively. Two leading companies, Blue Arrow Aerospace and China Academy of Aerospace, have successively sprinted onto the science and technology innovation board, and the "battle for the first stock of commercial aerospace" has entered a white-hot stage. "China's commercial aerospace is transitioning from the phase of technology verification to the phase of scaled-up engineering. In the next 3 to 5 years, the core of all issues actually points to one thing - whether costs can truly be reduced and whether a commercial closed loop can be established," said Wang Long, founder of "Hello Space," to Securities Times journalists. He believes that reusable rockets will certainly become established in the long term, but it is still difficult for them to become the mainstream source of cost reduction in the next 3 to 5 years. Looking at the next 3 to 5 years, what can truly bring about a certainty of cost reduction is not a single technological breakthrough, but two practical factors: firstly, supply chain restructuring, and secondly, demand-driven scaling.