China Aerospace Science and Industry Corporation中国航天科工集团

The business registration change was completed and the company renamed 「快舟航天空间科技有限公司」 (Kuaizhou Aerospace Space Technology Co., Ltd.). Earlier, in April 2026, the Wuchuang Xinghang fund, backed by Wuhan state capital, had acquired the 29.5904% stake for close to RMB 3.3 billion, implying a static whole-company valuation of about RMB 11.1 billion at that price. China's first commercial rocket company has passed the baton to local state capital. From this point the comparison “Kuaizhou vs Long March = CASIC vs CASC” is no longer accurate.

According to reports, the listing terms hard-required the buyer to take the 「航天科工」 sign down. This site could not find CASIC's remaining shareholding after the transfer, so it does not describe this as a “transfer of control” and states only the verifiable part: the transfer of a 29.5904% stake and the subsequent renaming. (The date is recorded as 2025-12-31, the start of the information-disclosure period in the listing materials; the widely circulated 2026-01-06 / 01-07 are the publication dates of two separate reports, neither of which gives the date the listing itself opened.)

The third Kuaizhou-1A launch failure. The variant has 3 failures in 31 cumulative launches. Launch outcomes follow the neutral Launch Library 2 database.

The fairing diameter increased from 1.4 m to 1.8 m, and the payload was Haishao-1. Xinhua called this Kuaizhou-1A's 28th flight — that per-variant number matches Launch Library 2 exactly; but Xinhua's simultaneous claim of “the 34th of the Kuaizhou family” is 1 apart from LL2's 33, which is why this site regards the basis for the family total as doubtful.

A commercial customer's payload was lost; the second Kuaizhou-1A failure within two years. The variant had previously run a streak of 9 consecutive successes.

In the investor Q&A at China Spacesat's 2020 results briefing, Ge Yujun said that constellation build-out plans including CASC's Hongyan and CASIC's Hongyun were being coordinated and planned by the relevant state departments. This is the only quotable public statement placing Hongyun under national-level coordination, but the speaker belongs to the CASC system, the original text does not mention China SatNet, and it does not say Hongyun was cancelled. On this basis this site does not draw the conclusion that Hongyun has been folded into SatNet.

Kuaizhou-1A's first failure, after a previous streak of 9 consecutive successes.

The maiden flight of this 1.5-tonne-class solid launch vehicle failed; the variant was then grounded for more than two years, returning to flight only on 2022-12-07. It has flown five consecutive successes since returning, including three in the six months since December 2025 — the only part of the Kuaizhou family currently accelerating.

The first networking satellites of the 80-satellite space-based IoT plan. Since then, no Xingyun payload has appeared again in any of Launch Library 2's Kuaizhou launch records — that is, more than six years with no new in-orbit record for the programme.

The first satellite of the 156-satellite LEO broadband plan. When verifying this, the site could not open the original source page (the government website returned a server error); the launch fact in this entry comes from a search-result title and has not been checked against the original text, so it is less reliable than the other entries in this profile.

From this point, Launch Library 2 records the service provider for Kuaizhou launches as ExPace (CASIC Rocket Technology Co., Ltd.) rather than CASIC itself, marking the formal appearance of the commercial operating entity. Nine years later that company was transferred and renamed.

The first flight of the Kuaizhou family, and the starting point of CASIC's entry into the launch market. Launch Library 2 records the service provider for this launch as CASIC itself, not the later ExPace.