Breaking News! SpaceX plans to submit its listing as early as this week. Overview of benefiting sectors (with stocks)

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On the morning of March 25, the commercial spaceflight sector saw volatile strength and then surged higher. As of 10:44, Runbei Hangke, Jiangshun Technology, and ZaiSheng Technology hit the daily limit, while Changguang Huaxin led the gains by more than 15%.

On the news front, according to a report by Caixin Global, an insider said that SpaceX plans to submit its initial public offering (IPO) registration statement to regulators later this week or early next week. The company’s latest valuation is $1.25 trillion, and the actual amount to be raised will be finalized in the weeks leading up to the IPO.

It is understood that this confidential submission will officially lock in the IPO plan for the rocket and communications company controlled by Elon Musk, with the goal of listing in June. This IPO will test investors’ subscription enthusiasm for a deal that could become the largest IPO in U.S. history, and its scale will far exceed previous ones. The aforementioned insider said that the advisers involved in the preparations expect the company to raise more than $75 billion in the IPO, higher than the previously reported estimate of $50 billion.

Of note is that, according to data from iFind provided by Tonghuashun, a reporter from 21st Century Business Herald, the largest amount raised in a prior U.S. IPO was Alibaba, with a total fundraising amount of $21.8 billion. SpaceX’s fundraising this time is more than three times Alibaba’s; in terms of total market capitalization, $1.25 trillion would also allow SpaceX to jump into the top ten among U.S.-listed stocks in one step.

HuaFu Securities said that overseas progress in commercial spaceflight-related industries represented by SpaceX continues to exceed expectations. Previously, a domestic leading heterogeneous integration equipment manufacturer had expected to ship to SpaceX in the first week of May. As of March 21, SpaceX had launched 36 times, and the number of satellites confirmed to be operating in orbit had reached 10,047—so fast that it is unmatched. For a relatively certain direction of industry trends, it is recommended to focus on Luxshare Technology, U-Jing Shares, Mayout Shares, and Liancheng Numerical Control.

Domestically, AiJian Securities believes China’s private rocket companies are still in the early stage of industry growth and valuation evolution. Referring to SpaceX’s development path, the core catalysts for the valuation uplift in China’s commercial spaceflight sector are: first, reusable rockets enabling large-scale low-Earth-orbit satellite constellation networking; second, on top of reusability, by tying long-term large-batch missions for low-Earth-orbit constellations, pushing launches from customized offerings toward standardized operations; and third, once high-frequency and scale effects are realized, rocket launches will upgrade from project-based products to space transportation capacity infrastructure and technology services. The valuation logic for commercial spaceflight companies will shift from a manufacturing orientation to a platform-based, infrastructure-based technology enterprise model, covering diverse long-term space mission demands such as crewed flights and deep-space exploration.

AiJian Securities also pointed out that rocket engines are a core link in launch vehicles, with the main technical barriers concentrated in key components such as thrust chambers and turbine pumps; the value of satellite manufacturing, however, is mainly concentrated in communications payload (TR) components. It is recommended to pay attention to relevant sectors such as power systems, satellite communications systems, materials and structural components, and the testing and validation stages.

（Source: 21st Century Business Herald）

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