Yuanxin Satellite

SpaceSail, China’s low Earth orbit satellite operator, announces a new fundraising initiative to attract additional investors. The move follows a report by state media outlet *Securities Times*, signaling expansion efforts in the satellite services sector.

Nov 2026The Daily StarNews article

Shanghai Yuanxin Satellite Technology secures **$1.035 billion** in funding to advance its satellite internet project, China’s answer to Starlink. The round excludes foreign investors, reflecting Beijing’s restrictions on foreign capital in domestic space ventures. The company’s valuation reaches **$7.41 billion** post-raise, underscoring its ambition in the competitive satellite broadband market.

Aug 2026Tech TimesNews article

China’s SpaceSail deploys a small but growing satellite constellation in low Earth orbit to compete with Starlink. The initiative receives state support and is in talks with dozens of countries for potential partnerships. Its scale remains far below Starlink’s thousands of satellites but benefits from government backing.

Jun 2026The GuardianNews article

Yuanxin Satellite secures a new financing round where existing shareholders retain at least 80% ownership, while new external investors hold no more than 20%. The company maintains state-owned capital control. The Shanghai United Equity Exchange confirms the capital increase plan, allowing up to 3 new investors with a total investment capped. This funding accelerates the expansion of China’s domestic satellite constellation.

Jun 2026China Money NetworkNews article