# China's CAS Space Technology is seeking to raise around 4.18 billion yuan ($607 million) in a planned listing on Shanghai's STAR Market.

*aerospace · news · 2026-04-01 · Reuters*

## Key points

- CAS Space seeks to raise $607 million via a STAR Market IPO to fund reusable rocket development.
- Shanghai's STAR Market eased IPO rules for reusable rocket firms in December 2023.
- CAS Space's new Kinetica-2 rocket completed its maiden flight, delivering satellites and a prototype spacecraft.
- CAS Space remains unprofitable, with accumulated losses of 2.5 billion yuan due to high R&D spending.
- Privately-owned LandSpace is also seeking over $1 billion through a STAR Market IPO.

**Companies:** SpaceX, CAS Space Technology, LandSpace, GalaxySpace
**Countries:** China, United States

[Read the full story on Reuters](https://www.reuters.com/science/chinas-cas-space-targets-607-million-ipo-reusable-rocket-rd-2026-04-01/)

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