Dahang Yaqian Raises 500M RMB in Series A, Accelerating China's First Tower-Capture Reusable Rocket
Summary: Shanghai Dahang Yaqian Aerospace Technology Co. has closed a 500 million RMB (~$69M) Series A round, led by Qianhai Ark, Houji Capital and Puhua Capital, to accelerate development of the Yueqian-1 — China's first launch vehicle designed for tower-capture ("chopsticks") recovery.
Shanghai-based Dahang Yaqian (上海大航跃迁航天科技有限公司) announced the completion of a 500 million RMB A-round financing on April 29–30, 2026, with the news gaining wide coverage in Chinese tech and finance media in early May.
Investors and Financing Details
The round was co-led by Qianhai Ark (前海方舟), Houji Capital (厚纪资本) and Puhua Capital (普华资本). Additional participants included Junling Capital (君领资本), Haiyuan Capital (海愿资本), Huifengda (惠丰达), JunChuan Capital (君川资本), Chongqing ChuChuang Technology (重庆沙创科技), Zhongzhong Technology (中重科技), Yuanchuang Capital (元创资本), Shanghai Angel Association (上海天使会), and strategic industrial investor Shenhou Cable (神猴电缆). Some existing shareholders also increased their stakes. China Renaissance Capital served as the exclusive financial advisor for this transaction.
Use of Funds
The raised capital will primarily support the development and maiden flight of Dahang Yaqian's core product — the Yueqian-1 (跃迁一号), which the company describes as China's first tower-capture reusable launch vehicle. Funding will also accelerate R&D and testing of a 100-ton thrust liquid oxygen methane engine.
The Yueqian-1 has already entered the production and testing phase. According to the company, the launch vehicle is planned to begin final assembly and testing in the second half of 2026, with a targeted maiden flight in 2027.
Technology and Background
Dahang Yaqian's recovery approach uses a "ground capture + intelligent control" tower-style retrieval system — sometimes referred to domestically as "chopsticks" capture (筷子夹), analogous to SpaceX's vertical tower catch for boosters. The company's technical design passed expert review in December 2024.
Founded in February 2024, Dahang Yaqian is China's first private rocket company to successfully implement tower-capture recovery technology. The company was founded by Chen Shuguang (陈曙光), a veteran expert from China's rocket industry and former technical head at a leading launch vehicle enterprise.
Market Context
The funding comes as China's commercial space sector is experiencing rapid growth, with multiple private companies racing to develop reusable rocket technology. Dahang Yaqian's tower-capture approach contrasts with the more common parachute-and-drone-ship recovery method used by other Chinese private launch providers, and targets the medium-to-large lift segment of the market.