BEIJING/SHANGHAI ¨C SpaceX¡¯s record $75 billion IPO is poised to supercharge Chinese space startups racing to fund the same technologies that have made Elon Musk the world¡¯s first trillionaire ¡ª reusable rockets and giant satellite constellations.
In China, the initial public offering was watched as a benchmark for a younger industry eager to go public. But the frenzy masks a fundamental gap, with firms going ?public ahead of meaningful revenue and without the proven technology that underpins SpaceX¡¯s economics, a mismatch analysts say will cap valuations.
Yet the excitement ?is palpable. ?Huang Yan, co-founder of Shanghai-based Lantern Capital, said his decade-old investment in LandSpace is generating returns of roughly ?100 times as the company moves toward a public listing.
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