Disconnecting the first and second stages have passed in a regular mode, however, during the disconnection of the third accident, which resulted in the rocket failed to reach orbit.
"The rocket flew normally after launch, the first and second levels worked normally, the fairing separated normally, and the third level was abnormal", LandSpace's long-form post to Weibo, China's Twitter-like social media, said of its mission.
It's also unclear what LandSpace will be doing in the wake of satellite launch attempt, but private companies are said to be playing a larger role in China's ambition to have a world-class space program.
It was created to send a Weila-1 satellite named "Future" into space for the country's state broadcaster, CCTV News.
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The launch was carried out the day before from the cosmodrome Jiuquan in Gansu province. Last month, two other privately owned firms, iSpace and One Space, successfully launched suborbital rockets. The company is set up in 2015 and aspires to become the first private Chinese company to launch a satellite.
"This final result is not flawless, but we have achieved some of our goals, especially the key steps like the rocket's stages and cowling separation", a spokesman told a press conference at the launch site. "That's already a great achievement", the company said in a statement. Only the company's dreams of space superpower-dom were harmed.
The three-stage rocket, Zhuque-1, was developed by Beijing-based Landspace. It remains to be seen if the launch failure would alter the plans of launching Zhuque-2, which the company had been due to start building this next year.