Two wind tunnels have been completed. The core power system is scheduled for a test flight by the end of the year. "Xingyu Aerospace" has completed a tens of millions Pre-Series A financing | Exclusive report by 36Kr

Text | Azhi

36Kr learned that "Xingyu Aerospace", a general developer of hypersonic power systems, announced the completion of a Pre-A round of financing worth tens of millions. This round of financing was led by Loongson Venture Capital, with Qidi Star Venture Capital, Tsinghua Seed Alumni Fund, Fuzhuo Investment, and Future Science City following the investment. Old shareholders such as Zhongguancun Qihang and Longding also participated in the follow - on investment. The company has raised over 100 million RMB in two rounds of financing. The funds from this round will be mainly used for the R & D of aerospace power systems and the promotion of the test flight mission at the end of the year. Wave Capital served as the exclusive financial advisor for this round.

Xingyu Aerospace was founded in 2022 and is an enterprise that 36Kr has been following for a long time. It focuses on the overall design and R & D of the third - generation aerospace power system and is currently the only private enterprise in China that simultaneously masters the design of aerospace power systems, engine integrated additive manufacturing technology, and has its own wind tunnel test equipment.

The third - generation aerospace power system has the core technical characteristics of wide speed range and aerospace integration, which can meet the application requirements of all scenarios such as commercial space and hypersonic vehicles. This is also the core technical advantage of the aerospace power system. The system can work stably in the full range from low - altitude to near - space and from subsonic to hypersonic speeds, breaking the working range limitations of traditional power systems and enabling it to adapt to various application scenarios in commercial space.

In the field of near - earth space transportation, it can serve as the core power of the reusable space - to - earth transportation system, supporting the large - scale and high - frequency deployment of low - orbit constellations to meet the massive needs of global communication and data services. In the sub - orbital field, it can be adapted to sub - orbital vehicles, providing reliable power support for new scenarios such as sub - orbital space tourism and sub - orbital freight, and promoting the commercialization of the space cultural and tourism industry. In the future, it can also be extended to the field of cross - domain high - speed transportation, realizing high - speed logistics and travel in an aerospace - integrated manner, truly expanding the application boundaries of commercial space and providing more possibilities for industrial development.

In terms of the technical route, Xingyu Aerospace chose to start with the air - breathing aerospace engine route, with a maximum speed of 6 - 10 Mach. However, correspondingly, the investment cost is high and the development difficulty is great. The team not only needs to have engineering systematic capabilities in fields such as combustion, aerodynamics, materials, control, structure, simulation, and experiments, but also requires a large amount of wind tunnel test data to repeatedly verify many engineering difficulties such as engine performance, structure, control, and flight - engine matching integration.

In terms of technical progress, according to Chen Junda, the co - founder of Xingyu Aerospace, in the past year, all subsystems of Xingyu Aerospace's core power system have been delivered, and the overall assembly is in progress. It is planned to conduct a ground full - system engine hot - fire test in May this year and carry out a flight demonstration verification at the end of the year.

In addition, Chen Junda said that Xingyu Aerospace is also promoting the intelligent data mining of aerodynamics, structure, combustion, etc. of the aerospace power system. The basic design of the full - system AI large model has been completed, laying the foundation for the rapid iteration of new models.

Aerospace power is a typical "long - slope and thick snow" track, which requires great patience and continuous capital investment. Although the entire commercial space industry was extremely popular in the past year, Xingyu Aerospace still remains calm in judging the rhythm of technology implementation.

Therefore, between the long - term R & D investment and the short - term business needs, Xingyu Aerospace has also planned a "three - step" commercialization path: creating continuous cash - flow income through its own wind tunnel testing and engineering services; ensuring the supply of core materials, improving the yield rate, and optimizing costs with self - developed 3D printing technology, and opening up and outputting supply - chain capabilities at the right time; relying on non - core business segments and other service revenues in the early stage to support the R & D and iteration of the core product, the aerospace power system in the long run, and ultimately promoting it to provide power systems for low - cost space transportation, space travel, and hypersonic vehicles.

It is reported that Xingyu Aerospace's first wind tunnel has been built and is in normal operation, and the second wind tunnel has been built and is currently undergoing final debugging.

In the past year, Xingyu Aerospace's business - end revenue basically came from engineering services related to wind tunnel construction. In the short term, this is a relatively clear and high - demand market. This year, Xingyu Aerospace has also set a revenue target of doubling growth for this purpose. In the medium - to - long term, the demand from general units is also increasing year by year and will be an important source of income for the company in the next 3 - 5 years.

Looking at the whole year of 2026, Xingyu Aerospace's core goal is to fully promote the R & D of the core power system and the implementation of the test flight work at the end of the year. Chen Junda mentioned, "If the test flight is successful this year, we are expected to become the first private enterprise in China with the ability to deliver this product."

In addition, Xingyu Aerospace also plans to double the size of its team this year to support the implementation of the company's multi - pronged R & D and test tasks.