Galactic Energy
Liu Baiqi
Data verified as of Jul 6, 2026
Summary
Galactic Energy (Beijing Xinghe Power) is one of China's leading commercial launch companies and the most prolific private launch provider in the country. Its small solid-fuel Ceres-1 — flying from both land and a sea platform (Ceres-1S) — has reached orbit 23 times with 21 successes, deploying around 89 satellites since 2020. The company is now developing the larger solid Ceres-2 and, most importantly, the partially reusable kerosene-liquid oxygen Pallas-1, a Falcon 9-class rocket whose first stage completed a seven-engine static fire in November 2025; by late May 2026 the ~42 m Pallas-1 stood vertical on a newly completed pad at Jiuquan ahead of an imminent maiden flight (no recovery attempt expected on the debut). Galactic Energy closed a 2.4 billion yuan (~$336M) Series D in September 2025, bringing total funding to roughly $410M, and is among the commercial launch firms now undergoing IPO vetting in China.
Company OverviewRead the long-form profile of Galactic EnergyMain Products
Four-stage small-lift launch vehicle with three solid-propellant stages and a hydrazine upper stage. The sea-launched Ceres-1S variant flies from a platform in the Yellow Sea.
Operational since 2020 and China's most-flown private rocket, with 23 launches and 21 successes from land and sea. It suffered its second failure (Y19) in November 2025.
Larger four-stage solid-fuel rocket with a 3.35-meter diameter, designed to carry roughly four times the payload of Ceres-1 for constellation deployment.
Maiden flight from Jiuquan on January 17, 2026 failed after an early-flight anomaly, losing about six satellites. Galactic Energy is investigating before a return to flight.
Two-stage, partially reusable kerosene-liquid oxygen medium-lift rocket — Galactic Energy's Falcon 9-class vehicle with a vertically landing first stage powered by seven CQ-50 engines.
Completed a successful seven-engine first-stage static fire in November 2025, finishing its major ground tests. By late May 2026 the ~42 m vehicle stood vertical on Galactic Energy's newly completed dedicated pad at Jiuquan ahead of an imminent maiden flight; landing legs and grid fins are fitted but no recovery is expected on the debut, with a launch-and-recovery test to follow in 2026.
What's Next
Pallas-1 maiden flight and first-stage recovery
With Pallas-1 standing vertical on its completed Jiuquan pad since late May 2026 but still awaiting a launch date as of early July, fly the reusable rocket for the first time (no recovery attempt on the debut), then move to a launch-and-recovery test attempting vertical first-stage recovery to validate the reusable architecture.
Operations & Revenue
China's most-flown private launch provider. The solid Ceres-1/1S has reached orbit 23 times with 21 successes from both land and sea, though the rocket suffered its second failure in November 2025 and the larger Ceres-2 failed its January 2026 maiden flight. The reusable kerolox Pallas-1 completed its seven-engine first-stage static fire in November 2025 and stood vertical on a newly completed dedicated pad at Jiuquan from late May 2026; as of early July 2026 it remained on the pad awaiting a still-unscheduled maiden flight (no recovery attempt expected on the debut).
Revenue Streams
Ceres-1 / Ceres-1S Launch Services
Dedicated and rideshare small-satellite launches on the solid-fuel Ceres-1 from Jiuquan and the sea-launched Ceres-1S from a Yellow Sea platform, primarily for Chinese commercial Earth-observation and constellation customers.
Planned medium-class solid launches with roughly four times the payload of Ceres-1, pending return to flight after the January 2026 maiden failure.
Key Metrics
Timeline
In January 2026 the sea-launched Ceres-1S delivers four Guodian Gaoke satellites to low Earth orbit from a platform in the Yellow Sea — China's first commercial-launch mission of the year — expanding the Tianqi IoT constellation to 41 satellites.
By late May 2026, Galactic Energy completed phase 1 of its dedicated Pallas launch complex at Jiuquan and erected the ~42 m Pallas-1 Y1 vehicle on the pad, signalling an imminent maiden flight. The rocket carries reusability hardware (landing legs and grid fins) but no recovery attempt is expected on the first flight.