Space Economy Intel
Launch VehiclesChinaUnlisted

Space Pioneer天兵科技

Medium and large liquid launch vehicles (Tianlong-2, Tianlong-3); Tianhuo-series kerolox engines

Space Pioneer (Beijing Tianbing Technology) was founded in 2019 and is headquartered in Fengtai District, Beijing. It develops and manufactures liquid launch vehicles and kerolox rocket engines and sells launch services; its products are the Tianlong-series rockets (Tianlong-2, Tianlong-3) and the Tianhuo-series engines. In April 2023 its medium-lift Tianlong-2 reached orbit on its maiden flight, making the company the first Chinese private firm to orbit a liquid-fuelled rocket. Tianlong-3 is a large kerolox rocket about 72 m tall with a liftoff mass of about 600 tonnes and nine Tianhuo-12 engines on the first stage, rated at 17–22 tonnes to LEO and aimed at LEO constellation deployment. In September 2025 the Tianlong-3 first-stage propulsion system completed a sea-platform static fire at Dongfang Spaceport in Haiyang, Shandong, and in October it completed a 36-satellite separation test. On 3 April 2026 Tianlong-3 Y1 failed on its maiden flight from the Dongfeng commercial space innovation test zone, and the company began a failure-review process. On the capital side, the company closed nearly RMB 2.5 billion in Pre-D and D rounds in October 2025 and in the same month filed for listing tutoring with China Securities Co., Ltd. (CSC Financial, 中信建投证券) as tutor; founder Kang Yonglai is the controlling shareholder. The company has R&D and manufacturing sites in several cities, with disclosed planned capacity of 50 Tianlong rockets and 500 Tianhuo engines per year, and a dedicated launch pad at Jiuquan.

Corrections
  • Corrected on 2026-08-30：The English edition of this profile previously named the IPO tutoring sponsor as "CITIC Securities". The Chinese record has always said 中信建投证券, which is a different firm whose English name is China Securities Co., Ltd. (CSC Financial). The English fields have been corrected; the Chinese fields were not affected.

Last 12 months

  1. 13 Jul 2026Funding in progress
    Media report a new Space Pioneer round is close, with post-money valuation possibly above RMB 30 billion

    Reports said a new financing round was near completion and that post-money valuation could exceed RMB 30 billion, with a pre-money figure put at RMB 26–28 billion. The coverage was framed throughout as "sources say" and "expected"; neither the company nor any investor has issued a formal announcement.

    Source: news.qq.com · originally published 13 Jul 2026, 17:30 Beijing time
  2. 06 Jul 2026Funding
    Space Pioneer takes RMB 200 million strategic investment from Hengdian Capital, bringing cumulative funding to about RMB 6 billion

    Hengdian Capital made a RMB 200 million strategic investment in Space Pioneer. Cumulative funding raised by the company reached approximately RMB 6 billion.

    Source: Future Tianji · originally published 06 Jul 2026
  3. 16 Apr 2026Outbound investment
    Space Pioneer takes a roughly 40% stake in Yihang Testing

    Space Pioneer made a strategic investment in Yihang Testing, subscribing RMB 4.334 million for a holding of about 40.0037%.

    Source: Future Tianji · originally published 16 Apr 2026
  4. 03 Apr 2026Launch & on-orbitSetback
    Tianlong-3 Y1 fails on maiden flight; Space Pioneer starts failure review

    Tianlong-3 Y1 lifted off from the Dongfeng commercial space innovation test zone at 12:17 on 3 April and experienced an in-flight anomaly; the maiden flight failed. The company said it had convened an expert panel to run a failure-review and corrective-action process.

    Source: The Paper · originally published 03 Apr 2026, 17:06 Beijing time
  5. 16 Mar 2026Listing & equity
    First IPO tutoring progress report discloses post-money valuation above RMB 20 billion and 65 shareholders

    The first progress report on Space Pioneer's IPO tutoring was disclosed, putting post-money valuation above RMB 20 billion and the shareholder count at 65.

    Source: Tencent News · originally published 16 Mar 2026
  6. 11 Mar 2026Facilities
    Space Pioneer's Jiuquan launch test and processing building is handed over, supporting batch deployment via "36 satellites on one rocket"

    The satellite test and launch-processing building built by Space Pioneer at Jiuquan was handed over, intended to support batch constellation deployment on missions carrying 36 satellites per launch.

    Source: Future Tianji · originally published 11 Mar 2026
  7. 27 Oct 2025Development
    Space Pioneer completes 36-satellite separation test for Tianlong-3

    A simultaneous separation test of 36 satellites was completed at the Zhangjiagang smart-manufacturing base using shape-memory-alloy release mechanisms; the company called it a first in China.

    Source: IT Home · originally published 27 Oct 2025, 11:23 Beijing time
  8. 17 Oct 2025Listing & equity
    Space Pioneer files for listing tutoring

    Jiangsu Tianbing Aerospace Technology Co., Ltd. filed its tutoring registration on 17 October with CITIC Securities (China Securities) as tutor; registered capital is RMB 390 million and Kang Yonglai holds 23.49% directly.

    Source: Sina Tech · originally published 18 Oct 2025, 21:50 Beijing time
  9. 09 Oct 2025Funding
    Space Pioneer closes nearly RMB 2.5 billion in Pre-D and D rounds

    Investors include Guoyu Gaohua, Jigang Group, China Orient Asset Management, SWS Investment and BOC Asset; proceeds go to series-production stock for rockets and engines and to next-generation engine and rocket development.

    Source: Tencent News · originally published 09 Oct 2025, 22:16 Beijing time
  10. 15 Sept 2025Development
    Tianlong-3 first-stage propulsion system passes sea-platform static fire

    A clustered static fire of nine Tianhuo-12 engines was completed on a sea platform at Dongfang Spaceport in Haiyang, Shandong, with all systems nominal; the company then planned a maiden flight by year-end.

    Source: Xinhua · originally published 15 Sept 2025, 17:58 Beijing time