Spurred on by robust policy backing and a surge in capital inflows, China's commercial space industry is gearing up for a wave of initial public offerings (IPOs). In recent times, numerous commercial space enterprises have disclosed updates on their IPO journeys, with brokerage firms making a strategic entrance by acquiring equity stakes. These brokerages are not merely offering advisory services for listings; they have also silently assumed the role of shareholders.

When it comes to investing in commercial space companies, brokerages typically channel their funds indirectly, either through their direct investment arms or equity participation funds. LandSpace stands out as a prime illustration of this trend. In terms of investment strategy, top-tier brokerages exhibit a penchant for diversifying their portfolios by investing in a broad spectrum of companies. Conversely, smaller brokerage firms tend to concentrate their investments on a select few targets.