Analysis of Launch Contract Values for Blue Arrow Aerospace’s Satellite Network Launch Projects

According to public information, the details of the launch service contracts signed by Blue Arrow Aerospace with China Star Network and Yuanxin Satellite are as follows:

[1][2]

• Package 1
  : Procures 4 “one rocket, 10 satellites” launch services with a total budget of
  RMB 616 Million
  , and a maximum price limit of RMB 55,000 per kg (satellite)[1]
• Package 2
  : Procures 3 “one rocket, 18 satellites” launch services with a maximum price limit of RMB 50,000 per kg (satellite)[1]

• Blue Arrow Aerospace has
  won the bid for the “one rocket, 18 satellites” launch service in Yuanxin Satellite’s “2025 Carrier Rocket Launch Service Procurement Project”
  [3][4]
• Signed a formal launch service contract with Yuanxin Satellite[4]
• Service Target: Yuanxin Satellite’s “Qianfan Constellation” major strategic needs[4]

• Blue Arrow Aerospace has signed a formal launch service contract with China Star Network[3]
• The Zhuque-3 medium-to-large liquid oxygen methane reusable carrier rocket has
  been selected into China Star Network’s core supplier list
  [3]

While the specific contract value obtained by Blue Arrow Aerospace has not been disclosed in public information, it can be estimated based on the following information:

• For Package 2’s “one rocket, 18 satellites” service, calculated based on each satellite weighing approximately 200-300 kg:
  • 18 satellites × 250 kg/satellite = 4,500 kg
  • Estimated single launch price: 4,500 kg × RMB 50,000/kg =
    RMB 225 Million
  • Estimated total value for 3 launches:
    RMB 675 Million

• There are 3 shortlisted enterprises for Package 2 (Blue Arrow Aerospace, Space Pioneer, CAS Space)[1]
• As one of the winning bidders, Blue Arrow Aerospace is expected to obtain a contract value in the
  RMB 100-300 Million
  range

These contracts obtained by Blue Arrow Aerospace are of great significance to its commercialization process:

1. Revenue Breakthrough
   : The company plans to achieve operating income of no less than RMB 500 Million in 2026 and no less than RMB 1 Billion in 2027[5]

2. Customer Structure Optimization
   : In the first half of 2025, Blue Arrow Aerospace’s sales to a single customer reached RMB 35.69 Million, accounting for approximately 98% of its operating revenue in that period[3]. The contracts with China Star Network and Yuanxin Satellite will significantly improve the customer concentration issue

3. International Expansion
   : In April 2025, Blue Arrow Aerospace also signed contracts with Open Cosmos (UK) and D-Orbit (Italy), with a cumulative value exceeding RMB 100 Million[5]

For the launch service contracts signed by Blue Arrow Aerospace with China Star Network and Yuanxin Satellite, the

, and the specific amount is subject to the company’s official disclosure. The signing of these contracts marks Blue Arrow Aerospace’s official entry into the ranks of suppliers for the country’s large-scale satellite internet constellations, and is of important strategic significance for the company’s future commercial development and profit improvement.

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[1] CITIC Construction Investment - Yuanxin Satellite Issues Tender Announcement for Rocket Launches
[2] Nanfang Plus - Difficulties in Launching Ten Thousand Satellites
[3] Sina Finance - Blue Arrow Aerospace Signs Formal Launch Service Contracts with China Star Network and Yuanxin Satellite
[4] Jiemian News - Blue Arrow Aerospace Has Signed a Contract with Yuanxin Satellite
[5] ChinaVenture - Raising RMB 7.5 Billion, China’s First Commercial Aerospace IPO Is on the Way