HONG KONG, August 8, 2022 /PRNewswire/ — Hong Kong Aerospace Technology Group Limited (01725. HK) is actively preparing for mass production since the beginning of this summer, after signing tailored contracts for the construction of the Satellite Manufacturing Center and the Satellite Center of Operation and Application Control at the Advanced Manufacturing Center (AMC) in Tseung Kwan O, the Group announced on August 3, 2022, that the indirect is wholly owned subsidiary of The company, Gang Hang Ke (Shenzhen) Space Technology Co., Ltd (hereinafter referred to as “SZ Gang Hang Ke”) has entered into the contract for the manufacture and assembly, integration and testing of the 36T-01 (“AIT”) satellite with Hunan Saide Leite Space Technology Co. Ltd. (hereinafter referred to as “Saide Leite”), according to which Saide Leite agreed to engage SZ Gang Hang Ke to carry out the manufacturing and AIT project for 3 optical satellites.
Under the Agreement, SZ Gang Hang Ke will be responsible, among other things, for formulating relevant plans according to production and production requirements, performing comprehensive and effective quality management and control over the manufacturing, production and testing process, and ensuring that the three optical satellites and their related technical information will be delivered after the completion of AIT services on or before June 30, 2023. It is known that Saide Leite is a private company limited by mainland Chinamainly engaged in engineering, technological research and experimental development, technology development, technology consultation, technology exchange, technology transfer, technology promotion, manufacturing of mobile satellite communication terminals, etc.
Increasing market share
SZ Gang Hang Ke is an indirect wholly-owned subsidiary of the Group, and is the only authorized docking agency in the mainland. Its main business scope includes the development, sale and leasing of space robots, design of space technology solutions, etc. The collaboration between SZ Gang Hang Ke and Saide Leite means a lot to the Group, as it presents Saide Leite as an important business partner for HKATG.
With the technical advantages of Saide Leite, deeper exchanges between the two sides will further promote the commercial aerospace territory. At the same time, this cooperation also represents the deepening of the ties between them China AND Hong Kong. It echoes the idea of the Hong Kong SAR government to “strengthen exchanges and cooperation between the two countries in the field of innovation and technology, including technology trade, by integrating Hong Kong in national development”, and further enhances HKATG’s influence in the industry.
Strategic cooperation One by one
The global economy has not yet fully recovered from the pandemic, along with the current increase in inflation, which presents negative effects on a company’s ability to effectively invest capital in business plans. That being said, as the first and only commercial aerospace company in Hong Kong, HKATG has not slowed down since the beginning of the year and the Group is actively expanding the direction of strategic cooperation. This year, the Group entered into a letter of intent with the City School of Engineering University of Hong Kong, and also signed a strategic cooperation agreement with Shandong Institute of Industrial Technology. Last month, HKATG announced the appointment of two directors, Dr. Mazlan Binti Othman and Mr. Niu Aimin, demonstrating its determination and willingness to promote the internationalization of the aerospace industry and aerospace applications, opening new industrial paths for Hong Kong economy, compensating the regional commercial gap in the space industry and pushing the development of the global aerospace industry to the next level.
Having the advantages of the right place and the right place, HKATG will further explore competitive partners in the aerospace industry, to improve Hong Kong status as an international center of innovation and technology innovation outlined in the 14th Five-Year Plan.
SOURCE Hong Kong Aerospace Technology Group