ExPace's majority owner sells 29.6% stake to Wuhan state investors
ExPace
CASIC's Aerospace Sanjiang sold a 29.6% ExPace stake to Wuhan state investors for about 3.3 billion yuan, ending its majority control.
what happened
China Aerospace Science and Industry Corporation's Aerospace Sanjiang subsidiary sold a 29.5904% stake in commercial launch company ExPace (CASIC Rocket Technology) to the Wuhan Wuchuang Xinghang venture fund, part of Wuhan Investment Holding Group, for about 3.3 billion yuan ($460 million), per Sina Finance. The sale cut Aerospace Sanjiang's stake from 56.43% to 26.84%, making the Wuhan fund ExPace's largest shareholder; per the sale terms reported by Jamestown Foundation, the company must drop the "CASIC" branding from its name. Jamestown reported the ownership registration change formally completed July 31, 2026.
why it matters
The deal shifts ExPace, one of China's earliest commercial launch companies, from direct central state-owned-enterprise control to sub-national state capital, a structural change Jamestown Foundation frames as part of a broader diversification of ownership across China's commercial launch sector as ExPace has fallen behind newer entrants like LandSpace and Galactic Energy.
signal-to-noise
quick facts
- Companies
- ExPace
- Category
- financial
- Impact
- notable
- SNR
- 4 / 5
- Event date
- 2026-04-21
- Published
- 2026-09-14 13:37 UTC