Domestic commercial aerospace companies' IPO process accelerates! Aerospace ETF Huaxia (159227) maintains the highest trading volume among peers, with constituent stock Changyingtong rising over 9%

On April 2nd, the three major indices of the A-shares market all declined, with the Shanghai Composite Index down 0.50%, the Shenzhen Component Index down 1.06%, and the ChiNext Index down 1.61%, indicating overall weak market sentiment. The Aerospace and Defense ETF Huaxia (159227) surged early but then pulled back, with a short-term adjustment gathering strength. As of 11:10, it was down 0.86%, with a trading volume of 172 million yuan, a turnover rate of 4.48%, maintaining a leading position among similar ETFs in trading volume; its constituent stocks Longyingtong rose 9.16%, Aero Engine Power increased 3.38%, Shanghai Hanxun rose 0.83%, and Aero Engine Technology, Construction Industrial, and Great Wall Military Industry also gained, while other stocks performed poorly.

From a capital flow perspective, the Aerospace and Defense ETF Huaxia (159227) has experienced net capital inflows for three consecutive trading days, with a total net inflow of 156 million yuan during the period, and its latest size reaching 3.84B yuan.

The domestic commercial space industry’s IPO process is accelerating: on March 31, 2026, CAS Space’s Sci-Tech Innovation Board IPO was accepted by the Shanghai Stock Exchange, with an intended fundraising of 4.18 billion yuan for the research and development of reusable large launch vehicles and other projects; on the same day, Blue Arrow Aerospace’s IPO was suspended due to outdated financial data; on March 30, Galaxy Aerospace initiated listing guidance. Additionally, companies such as Xinghe Power, Interstellar Glory, CETC Lantian, Changguang Satellite, Micro Nano Starry Sky, and Guoxing Aerospace are also advancing IPO procedures, indicating a potential concentrated period for core companies to go public in the commercial space sector.

Aijian Securities stated that the global commercial space sector is experiencing intensive catalysts. On one hand, SpaceX is pushing forward its IPO plans, with more concrete progress expected to be announced. Due to changing expectations in the rocket launch service market, company valuations may further increase. As a leading company in the global commercial space and satellite internet fields, SpaceX is expected to provide an important valuation benchmark for the industry. On the other hand, China’s commercial space industry, supported by policy and industry infrastructure improvements, is seeing more application scenarios emerging, further expanding demand for rocket launches. As satellite production and launch demands gradually release, the industry chain’s prosperity is expected to propagate upstream.

The Aerospace and Defense ETF Huaxia (159227) closely tracks the Guozheng Aerospace and Aviation Industry Index, with a commercial space content of up to 68%, making it the market’s leading pure-play commercial space ETF. It comprehensively covers key industry chain leaders in rocket launches, satellite manufacturing, aerospace electronics, and more, including core targets such as Aerospace Development, China Satellite, Aerospace Electronics, and AVIC Aircraft. The first-level military industry sector accounts for as high as 98.59%, making it the index with the highest “military industry purity” in the market, perfectly aligning with the “Aerospace-Integrated” strategic direction. The product has ample liquidity, consistently ranking among the top in ETF trading volume, and offers one-click deployment for opportunities in AI + aerospace, commercial launch scale, space computing power, and other core sectors. It is a convenient tool for capturing the high prosperity of the commercial space track.