Commercial space race "Five Little Dragons" investment map exposed

Blue Arrow Aerospace, Sky Soldier Technology, Zhongke Aerospace, Interstellar Glory, and Galaxy Power, five private rocket companies, are collectively sprinting towards the capital market, known as the "Five small dragons" of commercial aerospace. Among them, Blue Arrow Aerospace is expected to compete for the title of "China's first commercial aerospace stock", with its Sci-Tech innovation board IPO already accepted by the Shanghai Stock Exchange, but suspended in March 2026 during the application process and currently in the stage of financial report updates; Zhongke Aerospace's IPO has been "inquired"; Sky Soldier Technology, Interstellar Glory, and Galaxy Power are all in the stage of listing guidance. The "five small dragons" have shown strong leading effects. From 2025 to the end of February this year, the five companies collectively raised about half of the industry's total financing amount; in the first quarter of this year, Interstellar Glory completed a record-breaking single financing of 50.37 billion yuan, accounting for over 60% of the industry's total financing for that quarter. According to Rui Shou's analysis data, the disclosed financing amount in the commercial aerospace industry in Q1 2026 was 80.2 billion yuan. According to incomplete statistics from the ZERONE platform, in the past decade, the five companies have each completed 8-15 rounds of financing, with over 220 investment institutions, about 400 associated funds, and the funding chain extending to over a thousand LP institutions. The single financing amount has refreshed the record of the domestic private rocket industry.