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The company is one of many Chinese startups that are trying to follow in the footsteps of Elon Musk's SpaceX by creating a viable business from commercial space launches.
LandSpace claims to be the first private company in China to receive a government license to launch satellite rockets, as well as the first to build a three-stage launcher for such a mission.
The company aims to launch launches for companies around the world and play a role in China's broader space flight goals, according to its website.
Guo Xin, a spokesman for LandSpace, said the company was investigating the causes of the non-compliance with the launch of its "Zhuque-1" vehicle. The problem occurred after rocket launch from a satellite launch center in northwestern Gansu province on Saturday afternoon.
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