HONG KONG, August 8, 2022 /PRNewswire/ — Hong Kong Aerospace Technology Group Limited (01725. HK) has been actively preparing for mass production since the beginning of this summer, following the signing of equipment contracts for the construction of the Satellite Manufacturing Center and the Satellite Operational Control and Application Center at the Advanced Manufacturing Center (AMC) in Tseung Kwan O, the Group announced on 3 August 2022 that its indirect wholly owned subsidiary of the company, Gang Hang Ke (Shenzhen) Space Technology Co., Ltd (hereinafter referred to as “SZ Gang Hang Ke”) entered into an agreement with Hunan Saide Leite Space Technology Co. to manufacture and assemble, integrate and test 36T-01 (“AIT”) satellite. Ltd. (hereinafter referred to as “Saide Leite”), according to which Saide Leite agreed to engage SZ Gang Hang Ke to carry out manufacturing and AIT project for 3 optical satellites.
According to the Agreement, SZ Gang Hang Ke will be responsible, among other things, for formulating relevant plans according to production and production requirements, carrying out comprehensive and effective quality management and control over the manufacturing, production and testing process, and ensure that the three the optical satellites and related technical information thereon will be delivered after completion of the AIT services on or before June 30, 2023. It is known that Saide Leite is a private limited liability company from the mainland Chinamainly engaged in engineering, technology research and experimental development, technology development, technology consultation, technology exchange, technology transfer, technology promotion, satellite mobile communication terminal manufacturing, etc.
Increasing market share
SZ Gang Hang Ke is an indirect wholly owned subsidiary of the Group and is the only authorized docking agency on the mainland. Its main business scope includes the development, sales and leasing of space robots, the design of space technology solutions, etc. The collaboration between SZ Gang Hang Ke and Saide Leite means a lot to the band as it represents Saide Leite as an important business partner for HKATG.
With the technical advantages of Saide Leite, the deeper exchange between the two countries will further promote the commercial space territory. At the same time, this cooperation also represents the deepening of ties between China and Hong Kong. It reflects the Hong Kong SAR government’s idea of ”strengthening exchanges and cooperation between the two places in the fields of innovation and technology, including technology trade, integration Hong Kong in national development’ and further strengthens 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 spike in inflation, which is having a negative impact on the company’s ability to effectively invest capital in business plans. That said, as the first and only commercial aerospace enterprise in the 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 signed a letter of intent with the city’s 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 desire to promote the internationalization of the aerospace industry and aerospace applications, opening new industrial avenues for of Hong Kong economy, closing the regional trade gap in the space industry and pushing the development of the global space industry to the next level.
Having the advantages of the right place and the right location, HKATG will further explore competitive partners in the aerospace industry to improve of Hong Kong international innovation and technological innovation center status outlined in the 14th Five Year Plan.
SOURCE Hong Kong Aerospace Technology Group