China Aerospace Science and Technology Corporation中国航天科技集团
Diversified state aerospace group: launch vehicles, satellite manufacturing, satellite operations, deep space, human spaceflight, propulsion
A central state-owned enterprise (SOE) wholly owned by SASAC (State-owned Assets Supervision and Administration Commission of the State Council), and the principal provider of China's orbital launch capacity. It carried out 73 space launches in 2025, a year in which China's total orbital launch count was 92; the Long March family had accumulated 661 launches as of August 2026.
On sector tags: this site tags CASC with 7 sectors (launch vehicles as the primary sector, plus satellite manufacturing, satellite internet, space stations and in-orbit servicing, deep space and the lunar economy, propulsion and components, and Earth observation). “Launch vehicles” is the primary tag because of CASC's irreplaceability in the launch market; it does not represent its revenue mix — the most profitable assets inside the group are not in any of this site's 10 sectors at all, as the note on its listed companies below explains.
Buying CASC-group stocks does not buy you China's launch vehicles. The group itself is not listed. Among its 12 A-share controlled listed companies, only two map directly to space-economy revenue: China Satcom (satellite operations, RMB 2.645 billion of 2025 revenue) and China Spacesat (satellite manufacturing, RMB 6.103 billion of revenue but only RMB 36 million of net profit attributable to shareholders). The bulk of both revenue and profit sits in automotive components (Aerospace Intelligent Manufacturing / 航天智造, with RMB 9.003 billion of revenue and RMB 881 million of net profit attributable to shareholders, the most profitable of the 12), automotive thermal systems and photovoltaics (Aerospace Electromechanical / 航天机电), electronic components and drones (Aerospace Electronics / 航天电子 and Aerospace Rainbow / 航天彩虹), and coal chemicals (Aerospace Engineering / 航天工程). The prime contractors that integrate the Long March rockets (CALT and SAST), together with the crewed spaceflight and deep-space exploration assets, are all unlisted. Five of the 12 posted a loss for fiscal 2025.
China SatNet is not a subsidiary of CASC. China Satellite Network Group was announced as newly formed by SASAC on 29 April 2021 and is an independent central SOE ranking alongside CASC. This is the single most common error in Chinese-language coverage. The two have a customer-supplier relationship, and CASC supplies both the rockets and the satellites — for the “Satellite Internet Low Orbit Group 23” mission launched on 4 August 2026, CALT was prime contractor for the rocket and CAST was prime contractor for the satellites.
This site could not find CASC's consolidated group revenue or net profit, and made no estimate. See the key data section.
Last 12 months
- 04 Aug 2026Launch & on-orbitLong March 8A launches SatNet's Satellite Internet Low Orbit Group 23; CASC is prime contractor for both rocket and satellites
Lift-off at 16:52 from the Hainan commercial spaceport. CALT was prime contractor for the rocket and CAST prime contractor for the satellites; this was the 661st Long March launch. It is the most recent public instance of the supply relationship between CASC and China SatNet — SatNet is an independent central SOE ranking alongside CASC, and CASC supplies it at both ends, rocket and satellite.
Source: spacechina.com · originally published 04 Aug 2026 - 23 Dec 2025Launch & on-orbitSetbackLong March 12A maiden flight reaches orbit; first-stage recovery fails
Lift-off at 10:00 from the Dongfeng commercial space innovation test zone. The official release states verbatim: the rocket's second stage entered the planned orbit, the first stage was not recovered successfully, and the specific cause is under further analysis and investigation. This was CASC's first operational-grade recovery attempt for a reusable rocket, and it fell short of expectations.
Source: spacechina.com · originally published 23 Dec 2025 - 08 Dec 2025Listing & equityExchangeable bond conversion passively cuts CASC's China Satcom stake to 70.39%
After the RMB 6.1 billion technology-innovation exchangeable corporate bond issued in August 2024 entered its conversion window, investors converted into 182,931,097 shares (4.33% of China Satcom's total share capital). CASC's direct holding fell from 74.72% to 70.39% and its total controlled stake from 84.27% to 79.94%. This is a complete worked example of the group raising finance against equity in a listed subsidiary.
Source: file.finance.qq.com · originally published 09 Dec 2025 - 16 Oct 2025Launch & on-orbit600th cumulative launch of the Long March family
Flown by a Long March 8A. The Long March family reached 600 launches since its first flight in 1970. By 4 August 2026 the figure was 661.
Source: m.spacechina.com · originally published 01 Jan 2026 - 29 May 2025Launch & on-orbitTianwen-2 launches, opening China's first asteroid sample-return mission
Mission objectives include exploring and returning samples from the near-Earth asteroid 2016HO3. A landmark mission on CASC's deep-space exploration line; the related assets are unlisted.
Source: m.spacechina.com · originally published 01 Jan 2026 - 20 Mar 2025Outbound investmentCASC commits RMB 2 billion to the RMB 59.6 billion phase-two national military-civil fusion industry investment fund
The fund totals RMB 59.6 billion; CASC contributed RMB 2 billion for a 4.2017% share. Single source: Taibo citing business registration data from Qichacha; no announcement from SASAC or from the fund side was found, and this site could not independently verify it.
Source: Taibo · originally published 26 Mar 2025 - 12 Mar 2025FacilitiesFirst launch from Pad 1 of the Hainan commercial spaceport, built by CASC's CALT
A Long March 8 (CALT as prime contractor) placed the fifth batch of Qianfan constellation networking satellites into orbit, eighteen satellites on one rocket. Pad 1 was built by CASC's CALT on an EPC basis and is designed for “launch in 7 days, restore in 7 days”; from this point the spaceport had dual-pad launch capability. Here CASC is both the launch service provider and the infrastructure contractor.
Source: China News Service · originally published 12 Mar 2025 - 24 May 2023Funding in progressListing & equityAerospace Software lists on the STAR Market, raising RMB 1.268 billion
Priced at RMB 12.68 per share, with CASC as controlling shareholder; positioned as a large professional software and informatisation services company. It is the most recent listing among CASC's 12 A-share controlled listed companies.
Source: spacechina.com · originally published 24 May 2023 - 26 Sept 2022M&ALeadershipLucky New Materials (乐凯新材) discloses an RMB 3.303 billion related-party acquisition, later renamed Aerospace Intelligent Manufacturing
It acquired 100% of Aerospace Energy (航天能源) and Aerospace Moulding (航天模塑), both under CASC's Seventh Academy, by issuing shares, at a price of RMB 3.303 billion; the counterparties committed to combined net profit of no less than RMB 880 million over 2022–2024. The company was renamed Aerospace Intelligent Manufacturing in 2023. This automotive-components maker became the most profitable A-share company in the CASC group in fiscal 2025.
Source: finance.sina.com.cn · originally published 26 Sept 2022 - 17 Aug 2019Launch & on-orbitProductJielong-1 maiden flight succeeds; CASC enters the commercial launch market as a standalone commercial entity
The successful maiden flight of a purely commercial-model solid launch vehicle from China Long March Rocket Co., Ltd. (中国长征火箭有限公司), a subsidiary of CALT. It marks the point at which the “national team” began competing in the commercial launch market as a commercial entity, rather than only as an executor of state missions.
Source: spacechina.com · originally published 17 Aug 2019 - 28 Jun 2019Listing & equityChina Satcom lists on the Shanghai Stock Exchange main board
CASC's core specialised subsidiary for satellite operations services listed under ticker 601698. It is the group's only listed satellite-operations platform, and one of the two companies among the 12 A-share listings that map directly to space-economy revenue.
Source: spacechina.com · originally published 28 Jun 2019 - 08 Dec 2017FundingLeadershipCompletes corporate restructuring; registered capital raised to RMB 20 billion
Converted in its entirety from a whole-people-ownership enterprise into a wholly state-owned company; the name changed from 「中国航天科技集团公司」 to 「中国航天科技集团有限公司」 (China Aerospace Science and Technology Corporation to China Aerospace Science and Technology Corporation Limited), and registered capital rose from RMB 11.12069 billion to RMB 20 billion. The actual controller is SASAC.
Source: spacechina.com · originally published 22 Dec 2017 - 01 Jul 1999LeadershipChina Aerospace Science and Technology Corporation is founded
Formed by splitting up the former China Aerospace Industry Corporation; its lineage traces back to the Fifth Academy of the Ministry of National Defence, established in 1956. The other entity split off at the same time was China Aerospace Science and Industry Corporation (CASIC) — the two are frequently confused; the Kuaizhou rocket family belongs to CASIC and does not count towards CASC.
Source: spacechina.com · originally published 01 Jul 1999