Hongqing Technology has raised nearly 400 million RMB in Series A1 financing, with the continued support of Kunlun Capital and aims to enhance its role in the burgeoning low-orbit satellite communication market.

Target Information

Hongqing Technology has successfully completed nearly 400 million RMB in Series A1 financing, with participation from existing investor Kunlun Capital, the Advanced Manufacturing Fund, and Tongyu Communication. Kunlun Capital previously led an investment round in Hongqing Technology in March of this year. The company specializes in low-orbit broadband internet communication satellites, providing comprehensive solutions ranging from satellite manufacturing to constellation networking for major domestic and international constellation operators.

As the only company in China with satellite and launch vehicle collaborative capabilities, Hongqing Technology has developed high-level satellite design, integration manufacturing, and delivery capabilities. The firm focuses on independently researching and developing key satellite subsystems, ensuring control over critical technologies and enabling rapid iterations to achieve low-cost, high-reliability, and high-performance products. Blue Arrow Aerospace, the largest shareholder of Hongqing Technology, allows for deep business synergies and integrated development capabilities between satellite and launch vehicle technology.

Industry Overview

The recent years have seen the Chinese government elevate the development of the satellite internet industry to a national strategic level, characterized by strong policy support and financial investments. This