On the afternoon of December 4, the commercial space concept extended gains, with China Spacesat Co.,Ltd. (600118) hitting the 10% daily limit-up. Aerospace Hi-Tech Holding Group surged over 8%, while Haite High-Tech rose more than 5%. PIESAT Information Technology and Tianyin Electromechanical gained over 4%. The General Aviation ETF HuaBao (159231), which provides one-click exposure to low-altitude economy, large aircraft, civil-military integration, and commercial space sectors, saw its on-market price rise 1.06%.
The catalyst came from Blue Arrow Aerospace's successful launch of its Zhuque-3 carrier rocket from Jiuquan at noon on December 3, 2025. While the first and second stages separated normally and the payload was successfully delivered to orbit, the much-anticipated vertical recovery of the first-stage rocket failed. Despite not achieving a "perfect recovery," the successful orbital insertion marks a crucial step for China's commercial space sector toward reusable rocket technology.
As the world's first stainless steel-bodied liquid oxygen-methane rocket, Zhuque-3 features a 21.3-ton low-orbit payload capacity and reusable design aimed at significantly reducing launch costs. This flagship product of China's private space industry reflects the sector's explosive growth driven by policy support, technological breakthroughs, and market demand.
The National Space Administration recently released the "Action Plan for Promoting High-Quality and Safe Development of Commercial Space (2025-2027)," incorporating commercial space into China's national space development strategy. The plan outlines targets including efficient industrial coordination, safe production, expanded scale, enhanced innovation, optimized resource allocation, and improved governance by 2027.
The General Aviation ETF HuaBao (159231) and its feeder funds (Class A: 024766; Class C: 024767) track an index comprehensively covering 50 constituents in "military next-gen combat capabilities + civilian next-gen productivity," with over 46% state-owned enterprises and 20% from top defense conglomerates. The fund focuses on cutting-edge sectors including low-altitude economy, large aircraft, military aviation, commercial space, satellite navigation, and UAVs, particularly targeting core technological barriers and commercialization phases (aircraft manufacturing).
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