6 A-share suppliers ride China's Long March 10B rocket milestone

China's Long March 10B on July 10 became the first rocket recovered by a sea-based net system, lifting six A-share suppliers spanning fuel, specialty gases and recovery infrastructure.

"The Long March 10B carrier rocket development team will continue to optimize rocket performance and accelerate the iterative upgrade of reusable rocket technology," CASC said in a statement after the launch.

The 63-meter, 760,000-kg rocket lifted off at 0415 UTC from Hainan Commercial Space Launch Site. Its first stage was captured 11 minutes later by the "Linghang Zhe" recovery vessel using a tensioned net — a method that eliminates the landing legs used by SpaceX's Falcon 9 and Blue Origin's New Glenn. The rocket delivered an undisclosed satellite into orbit and has a 16,000-kg payload capacity to low Earth orbit in reusable mode.

The milestone makes China the third entity after SpaceX and Blue Origin to recover an orbital booster, and the first using a net. CASC aims to reuse the first stage before year-end, potentially cutting launch costs for satellite internet constellations and commercial payloads.

Fuel, Gas and Recovery Infrastructure

Sinopec, China's state-owned oil giant, supplied the LNG-based liquid methane fuel for the rocket's second-stage YF-219 engine — its first foray into aerospace propulsion. The company's shift from traditional industrial and transportation LNG applications to aerospace-grade fuel represents a move up the value chain for its clean energy business.

Jofun Energy provided high-purity liquid methane, liquid nitrogen, liquid oxygen and helium as the mission's specialty gas supplier, marking the first delivery from its Hainan Commercial Space Launch Site facility. The company's exclusive supply role for the rocket's "green propulsion" system positions it as a key beneficiary as China scales reusable launch operations.

Hailanxin, through its subsidiary Hainan Oute Marine Technology, won a 457.97 million yuan ($63 million) bid in February 2025 for the reusable rocket offshore recovery system, partnering with Jiangxi Jiangxin Shipbuilding and the China Ship Research and Design Center. The "Linghang Zhe" recovery vessel, equipped with a hydraulic-damped flexible net capture system, represents an alternative to the powered landing approach used by SpaceX and Blue Origin.

Citic Heavy Industries served as the lead contractor for the net recovery system, handling joint design, manufacturing, equipment supply and installation. The system uses four hook mechanisms on the booster that engage with a tensioned net on the vessel — a design that reduces structural complexity on the rocket itself and preserves payload capacity.

Rocket Core and Market Implications

Aerospace Engineering, the only A-share listed entity under the China Academy of Launch Vehicle Technology, and Aerospace Power, the sole listed platform under the China Academy of Aerospace Propulsion Technology, round out the supplier group. Aerospace Power's parent developed the rocket's seven YF-100K kerosene-liquid oxygen engines producing 890 tons of thrust, and the YF-219 methalox engine for the second stage — solving what CASC described as the "world-class challenge" of making reusable rocket engines that can both ascend and return.

The successful debut has drawn investor attention to China's commercial aerospace sector. Star Net UAV, which saw its shares move on speculation, clarified on July 12 that it had no business connection to the Long March 10B project, stating its satellite communications revenue accounted for 12.33 percent of total 2025 revenue and that it did not participate in the rocket's development or supply chain.

CASC plans to launch the Long March 10A carrying an uncrewed Mengzhou spacecraft on its first orbital mission, potentially in 2026, with the full tri-core Long March 10 targeting a crewed lunar landing before 2030. The 10B's success also validates China's parallel approach to reusability — the net recovery method versus the landing-leg approach being pursued by Landspace's Zhuque-3 and the Long March 12A, both of which failed in their sole recovery attempts. For investors, the six confirmed suppliers represent a cross-section of China's reusable rocket supply chain, positioned to benefit from both government contracts and commercial satellite deployment demand as launch costs decline.

This article is for informational purposes only and does not constitute investment advice.