Galactic Energy星河动力
Small solid rockets (Ceres series); reusable liquid rockets (Pallas series); Cangqiong kerolox engines
Galactic Energy was founded in 2018 and is headquartered in Yizhuang, Beijing. It develops, builds and launches rockets: the Ceres series of solid launch vehicles, the Pallas series of reusable liquid launch vehicles and the Cangqiong kerolox engine. Ceres-1 is in series production with routine commercial launches and sea-launch capability; as of January 2026 the company had completed 21 commercial launches placing 89 commercial satellites in orbit. On 17 January 2026 its new solid rocket Ceres-2 failed on its maiden flight; the failure review, passed in June, attributed the loss to insufficient design margin in the support structure of the first-stage engine's throat insert. Pallas-1 is a two-stage liquid rocket 52 m tall with a liftoff mass of 283 tonnes and 7 tonnes to LEO, with seven in-house CQ-50 engines on the first stage designed for at least 25 reuses; in August 2026 the company announced a maiden flight from Jiuquan in the second half of August, without a booster-recovery attempt. On the capital side, the company closed a RMB 2.4 billion D round in September 2025, bringing cumulative funding to more than RMB 5 billion, and filed for listing tutoring with the Beijing securities regulator in October 2025 with Huatai United Securities as tutor; in July 2026 GAC Capital announced a strategic investment. Liu Baiqi and Liu Jianshe are joint controlling shareholders.
Last 12 months
- 03 Aug 2026Galactic Energy announces Pallas-1 maiden flight from Jiuquan in late August
The mission will only aim for orbit, with no first-stage recovery attempt; the Y2 vehicle was scheduled to arrive at Jiuquan on 10 August for the first orbital-class booster recovery test.
Source: Sina Tech · originally published 03 Aug 2026, 10:39 Beijing time - 11 Jul 2026GAC Capital announces strategic investment in Galactic Energy
GAC Group's investment arm GAC Capital made a strategic investment to enter the commercial space sector; amount and round were not disclosed.
Source: Sina Tech · originally published 11 Jul 2026, 17:36 Beijing time - 15 Jun 2026Ceres-2 Y1 failure review completed
The company attributed the failure to insufficient design margin in the rear support structure of the first-stage engine's segmented throat insert, causing thermal erosion and structural failure; engine reliability-growth tests will follow.
Source: NetEase · originally published 15 Jun 2026, 11:08 Beijing time - 21 Jan 2026Galactic Energy updates IPO tutoring progress
The CSRC website shows an updated tutoring filing with Huatai United Securities as tutor; on 20 January the company completed a full-system hot-fire of the CQ-90 main engine for Pallas-2.
Source: Sina Finance · originally published 21 Jan 2026, 15:49 Beijing time - 17 Jan 2026Ceres-2 fails on maiden flight; Galactic Energy apologises
Ceres-2 launched from Jiuquan at 12:08 on 17 January and experienced an in-flight anomaly. The rocket has a liftoff mass of 100 t and 1.6 t to 500 km LEO.
Source: The Paper · originally published 17 Jan 2026, 21:27 Beijing time - 16 Jan 2026Ceres-1 sea-launch variant orbits four satellites, first Chinese private launch of 2026
Launched at 04:10 on 16 January from waters off Shandong, placing four Tianqi Group 06 satellites into 850 km orbit; 23rd flight of Ceres-1, bringing the company to 21 commercial launches and 89 satellites.
Source: Sina Finance · originally published 16 Jan 2026, 12:14 Beijing time - 12 Nov 2025Pallas-1 first-stage propulsion system completes sea-platform static fire
A clustered static fire of the first stage's seven engines was completed at Dongfang Spaceport in Haiyang, Shandong; thrust throttles between 20 and 50 t with single-engine-out tolerance. (Publish time taken from date.)
Source: People's Daily · originally published 12 Nov 2025 - 28 Sept 2025Galactic Energy closes RMB 2.4 billion D round
Investors include the Beijing Commercial Space and Low-Altitude Economy Industry Investment Fund, Nanjing Innovation Investment Group and a fund under the Sichuan Industrial Revitalisation Fund; proceeds go to the Pallas liquid rockets, Ceres-2 and infrastructure.
Source: Jiemian · originally published 29 Sept 2025, 09:26 Beijing time