LiJian-2's maiden flight successful; commercial spaceflight may usher in domestic and international resonance. Recent investors are eyeing these 7 stocks.

Commercial aerospace is seeing good news. The Lijian 2 has made its debut using a “one rocket, three satellites” approach, with its unit cost moving directly toward SpaceX.

First flight successful! The Lijian 2 plans to conduct recovery test(s) within the year

According to CASC, at 19:00 on March 30, the Lijian 2 Yao-1 launch vehicle was launched from the Dongfeng commercial aerospace innovation test zone. It precisely delivered the New Journey-01 satellite, New Journey-02 satellite, and TianShi satellite 01 into their planned orbits. The launch mission was a complete success. The first-flight mission serves national major strategies and major engineering construction.

It is reported that the Lijian 2 is China’s first launch vehicle with a “universal booster core” configuration. Its universal core-stage diameter is 3.35 meters; liftoff weight is 625 tons, with liftoff thrust of 753 tons. Its payload capability to a 200-kilometer low Earth orbit is 12 tons. It combines strengths such as high payload capability, high inherent reliability, and reusability.

With development targets of large launch capability, low cost, and high flight frequency, the Lijian 2 designs each of the rocket’s major parts as independent modules, enabling efficient reuse of different modules and flexible combinations, thereby improving R&D and production efficiency.

This successful first flight validated three major key technologies: the application of the CBC configuration, the design and manufacturing of a large-diameter optical smooth cylindrical propellant tank structure, and the large fairing’s poly-sling/flat-parabolic separation. Multiple breakthroughs provide solid technical support for the development of subsequent models.

Notably, CASC has already completed key technologies such as atmospheric reentry deceleration and recovery landing point control through the successful first flight of the Lihong 1, and it plans to conduct kilometer-scale—specifically, 100-kilometer-class—recovery testing this year.

Yang Haoliang, chief commander of the Lijian 2, said in an interview with the media that, at present, the unit cost of the Lijian 2 in a non-recovery state is basically on par with the cost of SpaceX’s Falcon 9 in a recovery state. “Once we achieve bundled recovery in the future, the cost is expected to drop to as low as half of SpaceX.”

Commercial aerospace is expected to achieve catalytic resonance both at home and abroad

According to data from the American Satellite Industry Association, in the commercial aerospace market, the infrastructure category accounts for about 37%. Ground stations and equipment make up the bulk of that share, while satellite manufacturing also holds a certain portion. In the commercial aerospace market, the product and service category accounts for about 63%, with satellite television and positioning and navigation as the core products and services.

A research report from Northeast Securities points out that, as the commercial aerospace industry continues to develop, the industry’s applications are expected to expand continuously in the future. Segments such as satellite applications, satellite manufacturing, ground equipment, commercial rocket launches, and space computing capacity have relatively large potential.

“Domestic satellite bulk tenders are imminent. With multiple rocket models from both home and abroad about to make their first flights, and the rollout of features such as direct-to-mobile, satellite performance will be further iterated, and satellites will enter a stage of both volume and price increases.” A latest in-depth report from Founder Securities for defense industry said that Sino-U.S. commercial aerospace progress is resonating, and it recommends focusing on the satellite value-added growth segments (power systems, laser links, etc.), rocket core components, satellite network partner suppliers for Xinyuan Xinyin, and ground-side opportunities brought by the completion of phased network deployment.

Haitong International said that the commercial aerospace sector is expected to achieve resonance both domestically and abroad. The U.S. rocket industry leader has achieved strong integration across the industrial chain and has already realized a commercial closed loop, with clear competitive advantages—making it the best investment target. China’s rocket industry leader has not yet gone public. The targets are mainly supply-chain-related; prioritize those that benefit to a high degree with strong certainty.

Kaiyuan Securities also said it is highly optimistic about the technological and capital resonance of commercial aerospace in 2026, and recommends continuing to watch beneficiary targets in the rocket industrial chain, the satellite industrial chain, and areas such as space computing capacity and space energy.

Multiple concept stocks saw financing clients aggressively accumulate shares last week

An 东方财富 concept-sector view shows that, in the current A-share market, there are nearly 300 stocks related to commercial aerospace concepts, with a combined total market value exceeding 5.9 trillion yuan. AVIC Chengfei is ranked first with a market cap of about 181.1 billion yuan. Seven stocks—such as Lens Technology, China Satellite Communications, Pengding Holding, and E.C. Blue Sky—each have market caps above 100 billion yuan.

From the start of the year to date, 97 commercial aerospace concept stocks have recorded share-price gains, accounting for more than 30%. Besides E.C. Blue Sky, which listed this year, Tifull Chuangshi topped the list with a 169% increase. Jiangshun Technology and Changguang Huaxin surged about 92% and 83%, respectively. Tengjing Technology, Zhongfu Shenying, and Robotic Technology all rose by more than 70%. Yunnan Germanium and Delong Laser’s price increases also exceeded 60% in the period range.

Judging by last week’s market performance, Tengjing Technology and Shenjian Co., Ltd. both saw week-on-week gains of more than 20%. Twelve stocks, including Opticool Technology, Yunnan Germanium, Western Materials, Sinotrans Holding, and Guoke Tiancang, all had gains between 10% and 19%.

On the capital side, 东方财富 Choice data shows that last week more than 40 commercial aerospace concept stocks received net purchases of financing exceeding 10 million yuan. Among them, Yunnan Germanium received additional leverage funds of 302 million yuan. Robotic Technology and Western Materials both had financing net purchase amounts close to 300 million yuan. Western Superconductor, Shenjian Co., Ltd., Tianyin Electromechanical, and Univision Communications received financing-client aggressive buying ranging from 107 million to 236 million yuan, respectively.

（Source: 东方财富 Research Center）