BUSINESS

Geovis Insighter’s IPO Lifts Off in Style After Chang Guang Satellite’s Listing Crash

Published: Jan. 7 3:49 a.m. GMT+8

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Executives of Geovis Insighter Technology Co. Ltd. at company’s launch on the Beijing Stock Exchange on Jan. 2, 2025.

Geovis Insighter Technology Co. Ltd., the first commercial aerospace company to list on the Beijing Stock Exchange, achieved a successful IPO with a surge of 407.23% on its debut, in contrast to the recent failed listing attempt by another Chinese satellite company.

Established in 2016, state-backed Geovis Insighter specializes in integrated solutions for spacecraft measurement, control management and aerospace digital simulation. The company’s stock was first listed on China’s New Third Board in February 2023.

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Geovis Insighter Technology Co. Ltd. became the first commercial aerospace company listed on the Beijing Stock Exchange, with a 407.23% surge on its IPO debut.
The company raised 1.645 billion yuan to fund projects, including a service center and AI platform; its market value was 4.3 billion yuan post-IPO.
Geovis reported growing profits, while rival satellite firm Chang Guang failed to list due to sanctions and regulatory issues, despite a significant pre-IPO fundraising round.

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Who’s Who

Geovis Insighter Technology Co. Ltd.: Geovis Insighter Technology Co. Ltd. is the first commercial aerospace company to list on the Beijing Stock Exchange. Established in 2016 and state-backed, it specializes in spacecraft measurement, control management, and aerospace digital simulation. The company achieved a 407.23% increase in its IPO and raised 1.645 billion yuan. Funds will be used for aerospace services, AI software, and R&D. Geovis Technology Co. previously owned 46.36% of the company.

Geovis Technology Co.: Geovis Technology Co. is a state-owned digital earth software firm that owned a 46.36% stake in Geovis Insighter before its IPO. The company is presumably involved in the aerospace and digital technology sectors alongside its involvement with Geovis Insighter, suggesting a focus on integrated digital and aerospace solutions.

Chang Guang Satellite Technology: Chang Guang Satellite Technology, established in 2014, is a Jilin-based startup focused on commercial remote sensing satellites. It was the first to launch China's high-resolution remote sensing satellite, Jilin-1, in 2015. Despite raising 2.46 billion yuan in pre-IPO funding, its IPO attempt in December 2024 failed due to being added to the US sanction list and facing operational challenges, including frozen equity stakes and withdrawn IPO application, leading to its review termination.

Haitong Innovation Capital Management Co. Ltd.: Haitong Innovation Capital Management Co. Ltd. is a private equity unit that was among the investors in Chang Guang Satellite Technology's 2020 pre-IPO funding round.

Shenzhen Capital Group Co. Ltd.: Shenzhen Capital Group Co. Ltd. is an investor in Chang Guang Satellite Technology, contributing to its 2020 pre-IPO funding round. The company is involved in private equity and venture capital investments, aiding in the development of firms across various sectors, including aerospace.

China Capital Investment Group Co. Ltd.: The article mentions China Capital Investment Group Co. Ltd. as one of the investors in Chang Guang Satellite Technology. They participated in the company's pre-IPO funding round in 2020. No additional details about the group are provided in the article.

Matrix Partners China: Matrix Partners China was one of the investors in Chang Guang Satellite's pre-IPO funding round in 2020. This round raised 2.46 billion yuan and included other investors like Haitong Innovation Capital Management Co. Ltd., Shenzhen Capital Group Co. Ltd., and iflytek.

iFlytek: IFlytek is mentioned as an artificial intelligence specialist that invested in Chang Guang Satellite during its 2020 pre-IPO funding round.

AI generated, for reference only