Author: Song Xi | Location Selection: 960

Full text: 1,794 characters, approximately a 3-minute read

In southeastern Beijing, aerospace companies in Yizhuang are eagerly acquiring land to construct satellite factories.

According to the official website of the Beijing Municipal Commission of Planning and Natural Resources, on July 16, an industrial plot in Yizhuang was successfully auctioned. The winning bidder was Galaxy Space, the inaugural unicorn in the commercial aerospace sector, which plans to utilize the land for the development of a 'Satellite Super Factory and Headquarters Park Project.'

Plot Details and Location

As per the announcement, the plot is an industrial project situated at Plot 1103 in the YZ00-0803 district of Yizhuang New City, adjacent to the aerospace landmark Rocket Street in the Yinghai area. The plot spans approximately 20,000 square meters (about 30 acres) with a total construction area of around 50,000 square meters. The land has a lease term of 20 years and was ultimately auctioned at the base price of 29.245 million yuan, equating to a land transaction price of roughly 585 yuan per square meter.

Notably, the plot follows a 'lease-before-purchase, transfer upon achieving production targets' model, with an initial 5-year lease period followed by transfer after meeting production goals. This land supply method aligns with Beijing's new policy on flexible industrial land transfers, implemented since January this year, with Yizhuang serving as a pilot area.

According to the listing documents, the project necessitates a fixed asset investment of approximately 500 million yuan and an annual production value of about 900 million yuan, with production targets set to be achieved by 2029. Additionally, the constructed factories or supporting facilities are prohibited from being transferred or leased.

As stated on its official website, Galaxy Space, which commenced operations in April 2018, is a provider of satellite internet solutions and satellite manufacturers, specializing in low-Earth orbit broadband communication nodes. In 2023, Galaxy Space was included in the Hurun Global Unicorn List with a corporate valuation of 11 billion yuan, becoming the first unicorn in China's commercial aerospace sector, ranked 668th. By 2026, its valuation had surged to 32 billion yuan, ranking 234th globally.

It is reported that the company has currently developed a total of 46 self-researched satellites. In January of this year, 19 low-Earth orbit satellites were successfully launched aboard the Long March 12 rocket. These satellites, independently developed by Galaxy Space, are utilized for space infrastructure construction. The CEO remarked, 'New space infrastructure is the crucial foundation supporting the era of space science and technology innovation.'

Notably, in early June this year, Galaxy Space increased its registered capital from 51.82 million yuan to 360 million yuan. In March 2024, the company's address was changed from No. 8 Heiquan Road, Haidian District, to No. 9 Yongchang North Road, Economic Development Zone. Currently, its headquarters is leased in Building 5, Phase I of the Xinchuang Park in the Economic Development Zone. Public records indicate that prior to this land acquisition, the company had no other self-owned properties in Beijing.

Interestingly, Galaxy Space, ExPace, and LandSpace, all listed on the 2026 Global Unicorn List, have acquired land in Yizhuang and are pursuing the 'Factory + Headquarters Park' model.

Among them, ExPace acquired land in May, with its plot adjacent to that of Galaxy Space (Galaxy Space's plot is 1103, while ExPace's is 1104). Both plots adopt the 'lease-before-purchase, transfer upon achieving production targets' model. ExPace's plot covers nearly 30,000 square meters with a construction area of about 74,000 square meters and was auctioned at the base price of 43.8899 million yuan. The project involves the construction of ExPace's headquarters and R&D and production base for the reusable 'Zhi Shen Xing' liquid carrier rocket.

ExPace's Plot

Complementing Galaxy Space, ExPace is a private rocket company. According to its official website, the company was established in 2018 and has independently developed the 'Gu Shen Xing' and 'Zhi Shen Xing' series of carrier rockets, completing a total of 21 commercial launches and carrying 89 satellites. It is the private rocket company with the highest number of successful launches in China. Currently valued at 15 billion yuan, it ranks 555th on the Hurun Global Unicorn List.

The adjacent land acquisitions by these two companies are seen as the embryonic form of the 'Satellite-Rocket Synergy' pattern in the Yinghai Aerospace District.

Unlike Galaxy Space and ExPace, the leading player LandSpace has acquired land in Yizhuang three times, with a total land price of 330 million yuan, securing spaces for its factory, R&D, and headquarters across the entire industrial chain.

All three plots are located in the YZ00-0107 district of Yizhuang New City, including a commercial plot acquired in March this year for 172 million yuan and two plots (79M4 and 79M1-4) acquired in November last year for 111 million yuan and 49.25 million yuan, respectively. The 79M4 plot is designated for the construction of the 'Zhuque-3 Satellite-Rocket Integrated Super Factory and LandSpace Headquarters Project,' while the 79M1-4 plot is for the 'Zhuque Rocket Super Factory and Headquarters Base Project.'

According to public records, LandSpace was established in 2015 and is the first private carrier rocket company in China. It is committed to developing heavy-lift liquid rockets and high-performance liquid engines, with representative products including the Zhuque-3, Zhuque-2, Zhuque-1, and Tianque series of liquid oxygen-methane engines. The company was valued at 75 billion yuan in 2026, ranking 66th on the global unicorn list. Following the successful listing of SpaceX, LandSpace updated its prospectus in late June this year. If successful, it is poised to become the 'first commercial aerospace stock.'

As aerospace exploration technologies continue to advance and evolve, 'commercial aerospace' is becoming a buzzword. Data indicates that between 2025 and 2040, the cumulative value generated by the global space economy is expected to exceed 576 trillion yuan.

Beijing's Yizhuang, which hosts over 70% of China's private rocket development enterprises, is clearly strengthening the R&D and manufacturing capabilities of leading companies in the region.

In 2024, Yizhuang released the 'Beijing Yizhuang Aerospace District Planning and Design,' announcing the creation of a 2,500-acre 'Aerospace District' in Yinghai Town, Yizhuang. The plan aims to develop a commercial aerospace innovation cluster in Yizhuang with 'thousands of enterprises in synergy, thousands of satellites in orbit, and hundreds of billions in revenue.'