(Yicai) Dec. 4 -- LandSpace Technology's failure during the recovery test of its Zhuque-3 reusable carrier rocket will not impact its initial public offering process, according to an investor in the Chinese commercial space launch provider.

Although the verification of Zhuque-3's recovery technology failed yesterday, given that the rocket launched successfully, it will not bring resistance to LandSpace's listing application, Zhang Chi, founding partner of Xin Ding Capital, told Yicai.

LandSpace launched Zhuque-3 from the Jiuquan Satellite Launch Center in northwestern China on its maiden flight, sending its second substage into a predetermined orbit. During the recovery test, the first substage of the rocket had an abnormality after ignition and failed to achieve a soft landing on the recovery site, resulting in an explosion, with the specific cause under investigation, the firm noted.

Zhuque-3 is the leading rocket in China's private commercial aerospace industry in terms of carrying capacity, with the recovery tech being just the icing on the cake, Zhang pointed out. Thanks to its successful launch, the capacity pressure in the country's commercial aerospace sector will be eased, accelerating the process of satellite networking, he added.

Zhuque-3 is LandSpace's third-generation carrier rocket. According to its design, its low-Earth orbit carrying capacity in a reusable model is no less than 18 tons, which will provide strong capacity support for China's implementation of major space projects and the setup of satellite internet.

Established in 2015, Beijing-based LandSpace is in the pre-IPO tutoring phase on Shanghai's Nasdaq-style Star Market, the China Securities Regulatory Commission announced in July. China International Capital will serve as the tutoring institution.

Editors: Dou Shicong, Martin Kadiev