Finance News Agency, April 24 (Researcher Zhang Yuhong reporter Guo Songyi)April 24 is China Aerospace Day.The Financial Association visited Beijing Star Honor Space Technology Co., Ltd., which has founded the highest single -round financing in the field of commercial aerospace in 2020.

According to Li Yongpeng, deputy general manager of Star Glory and secretary of the board of directors, commercial aerospace itself already has a certain industry foundation and scale, and develops rapidly and shows a greater future imagination space.”At present, there is still a gap between China and the American commercial aerospace industry represented by SpaceX in the field of liquid.”

The liquid can be reused to use the rocket to accumulate the deepest commercial rocket company, and there is still a large gap with SpaceX

Financial Association: From last year, the Central Economic Work Conference proposed the development of commercial aerospace, and then to the government work report at the beginning of this year. Commercial aerospace has attracted much attention from the market.There are currently many Rockets companies in China. What is the difference between interstellar glory and other companies?What are the core advantages?

Li Yongpeng:The Central Economic Work Conference and Government work report has increased commercial aerospace, bio -intellectual manufacturing and low -altitude economy to high -expected policies.Commercial aerospace is a relatively large field. If it starts around 2015, it has developed for nine years.

Star Glory is a relatively earlier company in the industry. The main field is a commercial carrier rocket.Since its establishment, the direction and technical route we have adhered to have not changed much.

The advantages of our company can be divided into two aspects: technically, we have realized that since its establishment, we have realized that the final product form of the commercial carrier rocket segmentation, so the idea of deep cultivation of liquid can be repeatedly cultivated in the field of rockets.The benchmarking SpaceX Falcon 9, we are the fastest and deepest commercial rocket company in the field of liquid duplication.

In terms of operation and strategy, the characteristics of our company are stable, which is mainly reflected in the control of risks and the use of funds.For example, in terms of technical routes and product research and development, although we were aimed at this direction from the beginning, the Rockets had large investment in Romance, long cycles, and high risks.In the process of achieving a large -scale reusable use of rockets, we use the decomposition strategy of “small steps and fast iterations” to control technology and operating risks.For example, first make a small liquid rocket to verify the most important recyclable key technologies, and then make big rockets on this basis.

Financial Association: What are the gaps between the bidding SPACEX Falcon 9, Star Glory and SpaceX in terms of business models and technology?

Li Yongpeng:SpaceX’s entire business model contains two major businesses: rocket launch+star chain.The business model of the carrier rocket is not much different.Although this is a highly technical threshold, it looks mysterious and tall hardcore industry. From the perspective of business, sometimes everyone will say that it is actually a bit like a “courier company” in heaven and earth.EssenceReducing the cost of logistics depends on the realization of the reused technology of the Rockets.The goal of the star chain is to build a global low -orbit Internet constellation, and SpaceX is an operator.At present, this business is mainly responsible for the central enterprise, and the central enterprise purchases satellites. We provide a carrying plan.

From a technical perspective, the gap between us and SpaceX is obvious.Not just commercial companies, in fact, there is a certain gap in the entire Chinese aerospace and the United States of American aerospace or commercial space represented by SpaceX.SpaceX’s technical leadership is that the rocket can be reused, and it is very mature. Falcon 9 has recovered more than 200 times.Our country has not truly achieved the reuse of the rocket’s track and recycling.Our company conducted twice of vertical take -off and landing test last year, which is relatively leading in China.

The maturity of SpaceX technology reduces the cost of use, which has a great impact on the entire international commercial aerospace launch market.If SpaceX’s star ship is successful, it will put greater pressure on the domestic aerospace industry.This means that since the Saturn 5 planned by Apollo in 1969, the United States has once again that the capacity of launching rockets above 3,000 tons.In addition, the first and secondary levels of the star ship can be reused. Compared with the current Falcon 9 is the first child, it can be reused. The scale and reusability of the star ship will further reduce the cost of a large number of levels.

At present, there are data statistics that the unit weight cost of Falcon 9 is about $ 3,000 to $ 3,000, and the unit weight cost of the star ship may be reduced to about $ 900.

The rocket launch service price is reduced

Financial Association: SpaceX is likely to further reduce rocket launch costs. Under this impact, what kind of development rhythm will the entire commercial rocket field show in the future of the entire commercial rocket?For interstellar glory, what are the plans in the above aspects?

Li Yongpeng: From the perspective of the price of commercial rocket launch services, I think the future is the trend of continuous decrease.

Such a hard -core industry with a technical threshold, funding barriers and talent barriers, in the past two years, I have felt that the technical and cost -effective competition has become increasingly fierce.At present, the development speed of the industry and the achievements have changed greatly with our predictions when we started in 2015. To be honest, it is more vitality than we thought.

In order to reduce the price to take two measures: on the one hand, reducing the launch price or providing a lower price launch service, the rocket can be reused with liquid, which has been proven by SpaceX; on the other hands method.The road of commercialization is essentially competitive to provide markets and users with more and better services.The emergence of commercial aerospace has introduced competition for traditional aerospace.Commercialization has improved competitive efficiency, increasing the motivation of aerospace innovation or cost reduction.

In terms of production capacity and launch capacity building, we also have corresponding plans.The characteristics of reusable use of the rocket itself determine that its turnover rate must be higher than a one -time rocket, because its first -class level can be reused.Every time after the one -child use, as long as it is simply tested, it can be launched again with a newly -produced two -child assembly.In this way, asset turnover and service efficiency are much higher than one -time rocket.

Last year, we conducted the first domestic Rocket Repeated Test, and the first flight was 38 days apart from the second flight.This includes the open -air working hours of the shooting range, and the preparation time in the plant is only about a week.Since it is the first time, we have left more time to go, and the process can be faster according to the actual situation.

Financial Association: What is the business profit model of interstellar glory?Is it profitable?

Li Yongpeng:At present, the entire commercial space field has not yet achieved real profit, and this situation may continue for a period of time.We have two major product lines, and the Lauret Rockets and liquid can be reused to use the carrier rocket.Solid small carrier rockets already have the ability to commercial services.The liquid can be reused to use the carrier rocket in the early stage of R & D stage. It is planned to complete the first flight and reuse in 2025, with formal service capabilities.

Financial Association: What are the challenges facing interstellar glory?How to solve it?

Li Yongpeng:The main challenge currently faces is how to improve efficiency and meet the huge launch needs as soon as possible.The construction demand for low -orbit satellite Internet is clear and large, and the demand for the rocket’s carrier capacity is urgent.We must complete the Rockets Rockets as soon as possible to provide stable launch services at lower costs.

“The business aerospace industry is a hot spot for investment”

Financial Association: After the policy is good, from the perspective of financing performance at the beginning of this year, new funds have continued to enter the field of commercial space.What do you think of the industry situation of commercial aerospace this year?Is there still a financing plan for Star Glory this year?

Li Yongpeng:We will have a financing plan this year.Capital has a cycle of attention to the industry.I personally feel that since the beginning of last year, the institution’s attention has increased significantly. This year, there should be more financing activities in the industry.This year’s 6.7 billion yuan financing of Yuanxin Satellite has attracted much attention in the industry.This financing is not only in the field of commercial aerospace, but also in the first few years of the first -class market.This is a signal of capital increase for the entire commercial aerospace.The abundance of funds means that the increase in business demand and the commercial closed loop of upstream and downstream are more foundation.

The increase in financing heat is not just due to favorable policy.Commercial aerospace, bio -intellectual manufacturing and low -altitude economies have a certain foundation and scale in itself, and developing rapidly and showing a larger future imagination space.Commercial aerospace starts from 2015, and the milestone technology of the entire industry in 2023 can be said to have sprayed development.So such a high -level policy support is a matter of water.

Financial Association: In recent years, China’s commercial aerospace track has attracted capital “swarming in.”At present, which areas are investment hotspots of commercial aerospace?