Zhejiang Party Secretary Wang Hao Visits LandSpace | PORTFOLIO

On May 7, Zhejiang Party Secretary Wang Hao visited Jiaxing as part of an inspection tour focused on building a world-class innovation ecosystem. He toured the intelligent manufacturing center of LandSpace, a Heart Capital portfolio company, to learn about the company's progress in developing liquid oxygen-methane reusable launch vehicles and advancing the commercial space industry. Wang exchanged views with company executives and researchers on topics including technology commercialization and enterprise-led innovation systems. LandSpace Chairman Zhang Changwu and the management team received the delegation and briefed them on the company's operations.

Wang emphasized the importance of thoroughly studying and implementing General Secretary Xi Jinping's important speeches on scientific and technological innovation, aligning national priorities with Zhejiang's capabilities, continuously improving the innovation ecosystem, and accelerating the transformation of more scientific and technological achievements into real productive forces. He called for strengthening enterprises' principal role in technological innovation, removing bottlenecks in talent mobility, research collaboration, and technology transfer, and achieving deep integration of the innovation chain, industrial chain, capital chain, and talent chain.

Zhejiang News Network

As a leading representative of Zhejiang's commercial space sector, LandSpace has steadily expanded its industrial presence and R&D investment in the province in recent years. It has established industrial systems in Jiaxing and Huzhou covering rocket final assembly and testing, liquid oxygen-methane engine manufacturing and testing, and production of core rocket components, gradually building foundational capabilities for the coordinated development of commercial space "R&D—manufacturing—testing—application."

In Zhejiang's private launch vehicle sector, LandSpace was the earliest to establish operations, has attracted the largest investment, possesses the strongest industrialization capabilities, and is the only company to have achieved mass production of orbital rockets — making it the current industry leader in Zhejiang's commercial space sector. The company has developed a relatively complete commercial space manufacturing system and engineering verification capability in the province, providing important support for Zhejiang's efforts to build a commercial space industry cluster and advanced manufacturing hub.

Jiaxing, Zhejiang

Huzhou, Zhejiang

Huzhou, Zhejiang

Jiaxing serves as the final assembly and testing site for the "Zhuque" series of rockets. It is the birthplace of the Zhuque-2, the world's first liquid oxygen-methane launch vehicle to successfully reach orbit, and one of the production and final assembly bases for the next-generation reusable Zhuque-3 rocket. Huzhou focuses on intelligent manufacturing and hot-fire testing of liquid oxygen-methane engines, continuously advancing the engineering and scaling of China's liquid oxygen-methane propulsion technology.

In recent years, LandSpace has pursued technological breakthroughs in liquid oxygen-methane propulsion, reusable technology, stainless steel vehicle structures, and large-scale manufacturing systems, accumulating a relatively complete engineering verification system and industrialization capability. The company has gradually evolved from single-model development toward building systematic capabilities for future space transportation architectures.

Jiaxing, Zhejiang

Regarding innovation ecosystem development, LandSpace has deepened collaborative innovation with universities, research institutes, and upstream and downstream industry partners, actively promoting enterprise-led integration of industry-academia-research-application, and exploring new pathways for deep integration of technological and industrial innovation in commercial space. The company has established joint technology development programs with multiple universities and research institutions, and is advancing the commercialization of research results in areas including reusable rockets, advanced propulsion systems, and intelligent manufacturing.

Currently, as commercial space has been incorporated into national strategic emerging industries and designated as an "emerging pillar industry," the sector is accelerating its transition from technology breakthroughs to industrial development. Leveraging Zhejiang's favorable innovation ecosystem and advanced manufacturing foundation, LandSpace is accelerating the engineering implementation of its liquid oxygen-methane and reusable technology roadmap, working to build internationally competitive commercial space industrial capabilities.

Going forward, LandSpace will continue to be rooted in Zhejiang, strengthening technological innovation and industrial collaboration, actively contributing to the construction of an innovative Zhejiang, driving breakthroughs in more core technologies and industrial achievements, and contributing to the building of a strong space nation and Zhejiang's high-quality development.

Heart Capital was founded in 2022 as a venture capital fund focused on investing in early-stage technology startups in China.

The Heart Capital team consists primarily of founding partners and core investors from Lightspeed China, alongside seasoned investors with industry backgrounds. The team's past investments include MetaX (688802.SH), Xpeng Motors (NYSE: XPEV, 09868.HK), Full Truck Alliance (NYSE: YMM), Sunmi Technology (06810.HK), RoboSense (02948.HK), Ambiq Micro (NYSE: AMBQ), Hanshow Technology (301275.SZ), FinVolution (NYSE: FINV), and Dream Island Group (NASDAQ: HERE), as well as LandSpace, Micro-nano Star, Baichuan, Manbang Cold Chain, World Logistics, and Fan Deng Reading, among others.

Based in China with a global outlook, Heart Capital is committed to early-stage support for entrepreneurial teams with the potential to become world-class Chinese technology companies. Heart Capital champions the value of "heart," believing that technology can serve as a bridge connecting minds. The firm looks forward to accompanying more young Chinese entrepreneurs onto the world stage.