GalaxySpace (Yinhe Hangtian)
Valuation
~CNY 32B (~$4.5B) post-money following Series C closed Feb 2025; A-share IPO counseling filed Mar 2026
Employees
~700+ (per Hurun unicorn data and industry reporting)
Current Status
China's most prominent private satellite manufacturer and the first private firm contracted to supply spacecraft for the state-led Guowang (China SatNet) megaconstellation. As of Apr 2026 the company has launched 40+ proprietary satellites (with 20+ delivered in 2025 alone), is producing Guowang batches at its Nantong smart factory, and has filed for A-share IPO counseling with Huatai United Securities.
Future Outlook
Near-term plans center on ramping Nantong production to 100-150 satellites per year, supplying ongoing Guowang batches and its own Galaxy-SAR-2/BlackSpider-3 constellations, and completing IPO listing on a Chinese A-share board within 2026-2027.
Key Products
Recent Milestones
Launched test satellite for satellite-internet from the Nantong smart factory ahead of full Guowang production
Nov 2024
Closed Series C round at ~CNY 32B (~$4.5B) post-money valuation
Feb 2025
Long March 12 launched the first commercially-built Guowang group — GalaxySpace became the first private supplier to the state megaconstellation
Aug 2025
Filed two new constellation plans — Galaxy-SAR-2 (96 sats) and BlackSpider-3 (81 sats)
Dec 2025
Built and delivered the 19th Guowang batch; total Guowang spacecraft in orbit reached 154
Jan 2026
Filed for A-share IPO counseling with Beijing CSRC, Huatai United Securities advising
Mar 2026