# Houyi-1 HY-1

Loss‑making Satellite Internet Firm Bets 2.8bn RMB on Rocket Factory and Radar Constellation to Scale Launch Capacity to 20 Rockets a Year

Hangtian Hongtu has signed a 2.8 billion yuan aerospace project in Suzhou, Anhui, to build a LOX‑methane rocket manufacturing base and a compute‑enabled radar satellite constellation, aiming for an eventual annual output of 20 rockets. The expansion comes as the company endures multi‑year losses and seeks international contracts, highlighting both the industrialisation of China's commercial space sector and the financial risks of rapid scaling.