Qianfan (Spacesail)

PrivateFounded 2018🇨🇳Shanghai, ChinaCEO Dr. Jason Zheng (President)

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Qianfan (千帆, also branded internationally as SPACESAIL) is China's first commercial LEO mega-constellation to enter formal network deployment.

Latest update Sep 20, 2026

01

Overview

Operated by Shanghai Spacesail Technologies, the program launched its first batch in August 2024 and reached 238 satellites after the July 4-5, 2026 batches. Deployment then paused until September 15-16, 2026, when two commercial rockets flew the first private-launcher networking missions: LandSpace's Zhuque-2E Y7 lofted 10 satellites from Dongfeng (the operator's 19th batch, bringing the count to 248), and Orienspace's Gravity-1 Y3 lofted 8 more plus an EUHT technology-test satellite from waters off China's east coast the next morning, taking the constellation to 256. No further batch was reported through September 20, 2026. The 324-satellite initial network target for regional broadband coverage remains slipped from July 2026 into the second half of the year; the longer-term roadmap still points toward a 1,296-satellite Phase 1 and an eventual constellation of more than 15,000 satellites for global coverage by 2030. Standardized flat-panel satellites are now produced for roughly 10 million yuan each - a reported cost reduction of over 96%. Trial or commercial-service agreements now cover Brazil, Malaysia, Kazakhstan, Mongolia, Thailand and Turkiye, with first paying international service still targeted for Q4 2026. The operator's own capital-increase disclosure shows just how early the revenue ramp still is: annual revenue of 49,300 yuan in 2023, 1.15 million yuan in 2024 and 188,700 yuan in 2025, against a net loss that widened to about 890 million yuan in 2025, with no revenue reported in the first quarter of 2026.

en.youth.cnUpdated Sep 20, 2026

02

What's next6

All milestones

  1. Post-2026

    Complete the 1,296-satellite Phase 1 network

    Scale from the initial regional network toward the 1,296-satellite Phase 1 deployment that underpins sustained broadband service. Re-verified as of September 16, 2026: private-rocket networking has started, and this milestone remains legitimately upcoming with no change to its target.

    spacenews.com

  2. H2 2026

    Reach 324 satellites for initial regional coverage

    Reach the 324-satellite initial network that management frames as the threshold for initial regional broadband coverage. After sitting at 238 through the summer, two private-rocket batches on September 15-16, 2026 lifted the constellation to 256, so the original July 2026 target remains slipped into the second half of the year and roughly 68 more satellites are still needed. No later batch was reported through September 20, 2026. The next sourced 18-satellite add is CAS Space's October Kinetica-2 Y2 flight; the operator's published roadmap then calls for a 648-satellite checkpoint by end of 2026.

    en.youth.cn

  3. Oct 2026

    Fly the October Kinetica-2 batch of 18 Qianfan satellites

    CAS Space's second Kinetica-2 flight (Y2) is still targeted for October 2026 with 18 Qianfan (Thousand Sails) satellites, a slip from a September target after the vehicle left Guangzhou for Jiuquan on August 26. LandSpace's Zhuque-2E already flew its demonstration Qianfan batch on September 15, so this is now CAS Space's first constellation networking flight rather than the next add after a pause. A third Kinetica-2 Qianfan batch is separately targeted for December 2026. CAS Space news through September 17 did not change the October target.

    cas-space.com

  4. Q4 2026

    Begin initial international commercial service

    Convert regulatory and partnership groundwork abroad into paying service around the fourth quarter of 2026. Spacesail has secured Brazilian regulatory approval (via a Telebras partnership under an Anatel license valid through July 2031), established a Kazakhstan subsidiary, run in-country tests in Malaysia, Mongolia, and Kazakhstan, signed a distribution agreement with Measat to bring Qianfan services to Malaysia and Southeast Asia, signed a 2025 cooperation framework with Thailand's National Telecom, and holds trial-service agreements covering Turkiye - part of talks the company says span roughly 30 countries, and includes early-stage investment discussions with Cambodia raised in July 2026. This would be the first commercial revenue outside China (SSST's own disclosures show minimal revenue and a widening loss through 2025). Re-verified as of September 16, 2026: LandSpace post-launch coverage still cites Q4 2026 service in Brazil, Malaysia, Kazakhstan, Turkiye and via airlines, with no start-of-service announcement.

    friendsofnasa.org

  5. End of 2026

    Reach 648 satellites (end-of-2026 checkpoint)

    Hit the operator's published intermediate target of 648 satellites in orbit by the end of 2026 - the step between the 324-satellite initial network and the 1,296-satellite Phase 1. Re-verified as of September 20, 2026: 256 satellites are in orbit after the Zhuque-2E and Gravity-1 batches, so roughly 392 more satellites are still needed in the final months of the year to hit this target.

    circleid.com

03

Latest news7

All news

  1. SpaceSail raises ~$1B in state-backed round, bars foreign capital

    Shanghai Spacesail Technologies (Qianfan/SpaceSail) disclosed a capital increase of about 6.976 billion yuan (~$1.035B) on August 18, valuing the Starlink rival at roughly 50 billion yuan (~$7.41B) post-raise. The round explicitly bars foreign capital and caps all outside investors combined at 20% of post-raise equity, leaving at least 80% with existing state-linked shareholders led by Shanghai Alliance Investment, China Development Bank and Chinese Academy of Sciences-linked capital.

    Tech Times

  2. Long March 6A upper stage breaks up after Qianfan launch

    A Long March 6A rocket launched 18 Qianfan (Thousand Sails) broadband satellites into near-polar orbit from Taiyuan on August 6, lifting the constellation to 256 satellites, and its upper stage broke apart in orbit shortly afterward. Space-tracking firms Slingshot Aerospace and LeoLabs cataloged debris counts ranging from roughly 300 to more than 900 fragments; it is the second time a Long March 6A upper stage has broken up on orbit, after a similar incident in November 2022, and the cause has not been disclosed.

    SpaceNews Space.com + CASC

  3. Qianfan adds two batches in two days, reaches 238 satellites

    SpaceSail's Qianfan (Thousand Sails) megaconstellation added two groups of satellites in as many days: a Long March 6A carried 18 satellites into near-polar orbit from Taiyuan on July 4, followed by a Long March 8A lofting 20 satellites - the largest Qianfan group to date - from Wenchang on July 5. The back-to-back launches lifted the constellation to 238 satellites in orbit as SpaceSail works toward commercial broadband service, including international markets, targeted for Q4 2026. The operator is separately raising up to $2.2 billion to accelerate the Starlink rival.

    SpaceNews China in Space

  4. SpaceSail seeks up to $2.2 billion to build Qianfan network

    Shanghai Spacesail Technologies, operator of the Qianfan (G60) megaconstellation, is seeking up to 15 billion yuan, about $2.2 billion, in a new capital raise to accelerate its Starlink rival. The company plans to bring in as many as three new investors for a combined stake of no more than 20%, keeping the venture under state control and excluding foreign investment. Proceeds are earmarked for constellation build-out, R&D and operations as Qianfan targets 324 satellites in orbit by the end of 2026 on the way to an eventual 15,000-plus.

    Advanced Television

  5. LandSpace Zhuque-2E completes 8th mission with SpaceSail payload

    LandSpace's Zhuque-2E Y6 rocket lifted off from the Dongfeng Aerospace Innovation Pilot Zone on June 9, successfully delivering the SpaceSail DTC 01 and China Mobile 02 satellites to their designated orbits - the eighth successful mission for the Zhuque-2 methane rocket family. The flight extends LandSpace's commercial launch cadence as China's leading private methalox operator while the company pursues its STAR Market IPO and works toward full first-stage recovery on the larger Zhuque-3.

    Xinhua Global Times + LandSpace

04

Products1

05

Key metrics

Employees
Not publicly disclosed
Est. annual revenue

Pre-commercial at scale: SSST's own capital-increase disclosure shows annual revenue of just 49,300 yuan in 2023, 1.15 million yuan in 2024, and 188,700 yuan in 2025, with net loss widening to about 890 million yuan in 2025 and no revenue reported in Q1 2026. First paying international service is still targeted for Q4 2026 in Brazil, with no public start-of-service announcement as of September 16, 2026.

Satellites in Orbit

256 after two private-rocket batches on Sept 15-16, 2026: Zhuque-2E Y7 lofted 10 (238 to 248) and Gravity-1 Y3 lofted 8 more; no later batch reported through Sept 20, 2026

Initial Network Target
324 satellites

(regional coverage); original Jul 2026 target has slipped to H2 2026 - 256 in orbit as of Sept 20, 2026, roughly 68 more satellites needed

End-of-2026 Target
648 satellites in orbit

the operator's published checkpoint between the 324-satellite initial network and the 1,296-satellite Phase 1; 256 in orbit as of Sept 16, 2026

Phase 1 Target
1,296 satellites
Planned Constellation

15,000+ satellites for global coverage by 2030 - the published buildout ramp calls for 324 more satellites in 2027 (roughly 648 cumulative), then about 4,000/year in 2028-2029 and 5,000 in 2030

Per-Satellite Cost
~10M yuan (−96%)
Disclosed Funding
6.7B yuan

(~$930M) Series A plus a ~6.976B yuan (~$1.035B) Series B disclosed Aug 18, 2026 from 18 investors at a ~50B yuan (~$7.41B) post-raise valuation, with foreign capital barred and outside investors capped at 20%

06

Operations & revenue

Operating status

Active

256 satellites are in orbit after two commercial-rocket batches on September 15-16, 2026 ended a pause since the July 4-5 Long March flights that had left the constellation at 238. LandSpace's Zhuque-2E Y7 deployed 10 networking satellites from Dongfeng on September 15 (248) and Orienspace's Gravity-1 Y3 sea-launched 8 more the next morning (256), the first private-launcher Qianfan networking missions. No further batch was reported through September 20, 2026. The 324-satellite initial-network target originally set for July 2026 remains slipped into the second half of the year, with a published 648-satellite checkpoint by end of 2026 ahead of the 1,296-satellite Phase 1. Ground control infrastructure is in place and SSST is beginning maritime Automatic Identification System services while pushing toward regional broadband coverage and Q4 2026 international commercial service.

Revenue streams

  • Broadband Internet Services

    Low-latency satellite broadband services for consumer, enterprise, and industry connectivity, in China and increasingly abroad. Spacesail has secured Brazilian regulatory approval to begin service, established a Kazakhstan subsidiary, run successful in-country tests in Malaysia, Mongolia, and Kazakhstan, signed a 2025 cooperation framework agreement with Thailand's National Telecom, and holds trial-service agreements covering Turkiye - part of talks the company says span roughly 30 countries in total - targeting initial international commercial service around Q4 2026.

  • Telecom Wholesale, D2D, and IoT Solutions

    Operator-partnered LEO services including direct-to-device communications, satellite-based IoT, and wholesale connectivity for regional telecom markets - pursued through partnerships such as the Measat agreement to bring Qianfan services to Malaysia and Southeast Asia, plus early maritime Automatic Identification System services enabled at the 200-satellite threshold.

  • In-Flight Connectivity

    Qianfan capacity integrated into Airbus' HBCplus in-flight connectivity programme under a December 2025 market cooperation agreement, giving Spacesail an airline distribution channel for its broadband capacity alongside its ground-market business.

07

Track record

How past announced dates turned out.

0/1announced date hit on time

  • 0 Hit
  • 1 Slipped
  • 0 Missed
  1. Slipped

    Reach 324 satellites for initial regional coverage

    Target July 2026 · Resolved Jul 31, 2026

    The 324-satellite initial regional-coverage target management had set for July 2026 was not met. After the July 4-5 batches brought the constellation to 238 satellites, no further Qianfan launch was confirmed for the rest of the month even though operator SSST had aimed to loft 100+ more satellites by month-end, leaving the network roughly 86 satellites short of 324 at the end of July. The target was pushed into the second half of 2026.

    Original targetOutcome

08

Timeline12

  1. 2026

    1. Orienspace Gravity-1 sea-launches 8 more Qianfan satellites

      On September 16, 2026 at 06:00 Beijing Time, Orienspace's Gravity-1 Y3 (branded Qianfan Quanshun) ignites from waters in the East China Sea and places 8 Qianfan networking satellites plus 1 EUHT technology-test satellite into an 800 km orbit, taking the constellation to 256. It is Orienspace's first giant-LEO constellation networking mission, with a net payload above 3 tonnes mixing stacked and flat-panel satellites.

    2. First private-rocket Qianfan batch: Zhuque-2E lofts 10 satellites

      On September 15, 2026 LandSpace's Zhuque-2E Y7 lifts off from the Dongfeng commercial space innovation pilot zone at 14:26 Beijing Time and deploys 10 Qianfan networking satellites into a roughly 900 km polar orbit - the operator's 19th batch and the first large-scale constellation deployment by a Chinese private rocket. The satellites were built by the Chinese Academy of Sciences Innovation Academy for Microsatellites and take the constellation from 238 to 248 spacecraft. LandSpace was one of three commercial firms contracted in August 2025 to fly a Qianfan demonstration launch, beating CAS Space's still-pending October Kinetica-2 mission by about a month.

    3. ~$1B capital increase disclosed, foreign investors barred

      SSST discloses a capital increase of about 6.976 billion yuan (~$1.035B) on August 18, 2026, valuing the company at roughly 50 billion yuan (~$7.41B) post-raise. The round explicitly bars foreign capital and caps all outside investors combined at 20% of post-raise equity, leaving at least 80% with existing state-linked shareholders.

    4. President meets Cambodian PM on satellite internet investment

      Dr. Jason Zheng, President and a board member of Shanghai Spacesail Technologies, meets Cambodian Prime Minister Hun Manet in Beijing during Hun Manet's July 2026 visit to China and the World Artificial Intelligence Conference, expressing interest in investing in satellite-based internet and communications services in Cambodia. Hun Manet says Cambodia is preparing a legal framework to regulate satellite internet before extending service to rural areas; no commercial agreement has been signed.

    5. 13th and 14th batches lift constellation to 238 satellites

      After a launch pause, deployment resumes with two batches in two days: a Long March 6A carries 18 Genesat-built satellites into near-polar orbit from Taiyuan on July 4, 2026 (13th group), followed by a Long March 8A lofting 20 CAS-built satellites - the largest Qianfan group to date - from Wenchang on July 5 (14th group). The back-to-back missions bring the constellation to 238 satellites in orbit. Tracking firms later reported that the July 4 Long March 6A upper stage broke apart after payload separation, adding another debris cloud in the same altitude band as the constellation.

    6. First direct-to-cell voice call on an unmodified smartphone

      SSST's dedicated Spacesail DTC 01 test satellite, launched on a Zhuque-2E rocket to validate direct-to-cell and integrated space-ground networking, completes China's first satellite voice call routed to a standard commercial smartphone with no hardware modification. Announced June 19-20, 2026, with voice quality reported to match terrestrial 5G.

    7. Back-to-back launches push constellation past 200 satellites

      Two batches of 18 satellites fly within 19 hours: a Long March 6A from Taiyuan at 11:39 UTC on June 4, 2026 followed by a Long March 8 from Wenchang at 06:34 UTC on June 5. The 11th and 12th deployments take Qianfan to 200 satellites in orbit, the threshold SSST says is enough to begin offering maritime Automatic Identification System services.

    8. Tenth batch rides Long March 12B maiden flight to 164 satellites

      CASC's new partially reusable Long March 12B carries the 10th Qianfan batch - two Genesat-built satellites - to LEO from Jiuquan on June 1, 2026, bringing the constellation to 164 satellites in orbit and validating a second commercial launcher for the buildout alongside Long March 6A/8.

09

Funding

$2Bdisclosed across 2 rounds with a stated amount

  1. Series A

    Feb 2024

    6.7B yuan (~$930M)

    National Manufacturing Transformation and Upgrading Fund-led syndicate including Shanghai Alliance Investment, Shanghai Guosheng Capital, Hengxu Capital, CASSTAR, and others

  2. Series A+

    Dec 2025

    Undisclosed

    Shangchuang Xinde Investment, Meilanhu Investment, Xinding Capital, and Xinwei Group

  3. Series A+ add-on

    Jun 2026

    Undisclosed

    Xinwei Capital (新微资本)

  4. Series B

    Aug 2026 (disclosed)

    ~6.976B yuan (~$1.035B, ~13.94% equity), valuing SSST at ~50B yuan (~$7.41B) post-raise

    Capital increase disclosed August 18, 2026 and reported as a Series B round with 18 investors, led by state-backed Shanghai Alliance Investment (~44.5-49.9% stake) and Chinese Academy of Sciences-linked venture fund CAS Star, alongside China Development Bank and other state-linked capital; the round explicitly bars foreign capital and caps all outside investors combined at 20% of post-raise equity, leaving at least 80% with existing state-linked shareholders. Originally announced in March 2026 seeking up to ~15B yuan.

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