Dahang Yuetqian Raises 500 Million RMB in New Funding Round to Accelerate Reusable Rocket Development

Summary: On April 29, 2026, Shanghai-based commercial space company Dahang Yuetqian announced the completion of a 500 million RMB new financing round. Led by Qianhai Ark, Houji Capital, and Phua Capital, with participation from multiple other investors and Huaxing Capital as the long-term financial advisor, the funds will primarily support the development and maiden flight of the Yuetqian-1, China's first tower-capture reusable launch vehicle, along with a 100-ton-class liquid methalox engine. The company's first flight vehicle has entered the production and testing phase, with final assembly and testing scheduled for the second half of 2026 and a planned maiden flight in 2027.

Sources (original articles)

• Dahang Yuetqian Completes 500M RMB Funding, First Flight Vehicle Assembly to Begin H2 2026 (Tencent News, May 1, 2026)
• Dahang Yuetqian Raises 500M RMB, China's First Tower-Capture Reusable Rocket Accelerates (East Money, April 30, 2026)
• Dahang Yuetqian Raises 500M RMB to Advance Tower-Recovery Rocket Development (Economic Observer, April 30, 2026)