Ambassador to China visits HKATG Satellite Manufacturing Center - Hong Kong Aerospace (OTC:ASTGY)

Ambassador to China visits HKATG Satellite Manufacturing Center - Hong Kong Aerospace (OTC:ASTGY)

Updated: 25 days, 2 hours, 5 seconds ago

Switzerland Demonstrate An Interest In Commercial Aerospace

HONG KONG, Feb. 26, 2023 /PRNewswire/ -- Mr. Paul Chan, the Financial Secretary attended the World Economic Forum (WEF) Annual Meeting in Switzerland in the middle of last month and met with several political and business leaders. He elaborated Hong Kong's latest development, systemic strengths and bright prospects to the attendees. It's no doubt that Hong Kong enjoys unique access channels for cross-border portfolio investment flows to and from China, which attracts global enterprises to increase investment and expand the scale of operations in Hong Kong. Less than a month after the WEF, Mr. Jurg Burri, Ambassador of Switzerland to the People's Republic of China and Mr. Rolf Frei, Consul General at Consulate General of Switzerland in Hong Kong responded the Financial Secretary with actions.

On 22 February 2023, the two visited Hong Kong Aerospace Technology Group Limited (HKATG; 01725. HK) headquarters, the Satellite Manufacturing Center and the Satellite Operation Control and Application Center located at the 2/F and 8/F AMC, to gain an in-depth understanding of the development of commercial aerospace in Hong Kong.

Co-Chairman and CEO Mr. Sun FengQuan, together with Non-Executive Director Dr. Daniel Yip, as well as the Senior Advisor of HKATG CEO Office and the Director of International Partnerships Division, met with the Ambassador of Switzerland to the PRC and Consul General at Consulate General of Switzerland in Hong Kong yesterday. Upon their arrival, Mr. Jurg Burri and Mr. Rolf Frei first had a meeting with Mr. Sun FengQuan to learn about the "Smart Manufacturing" which focuses on Hong Kong's re-industrialization, as well as the "Golden Bauhinia Constellation" series remote sensing satellite technology in miniaturization, high-speed data transmission, and zero-momentum control. The Ambassador of Switzerland to the PRC was glad to see the potential cooperation between HKATG and a number of Swiss commercial aerospace companies, he also expressed his strong interest in the development of Hong Kong's re-industrialization and would like to strengthen partnership and collaboration between Swiss enterprises and HKATG. After the meeting, the two visited the Satellite Manufacturing Center, and the Satellite Operation Control and Application Center located, respectively, and learned more about the "Golden Bauhinia Constellation" satellite in agricultural and forestry protection and water pollution monitoring , smart city and other fields of application.

Actively develop multinational Cooperation

Co-Chairman and CEO Mr. Sun FengQuan gave a brief introduction to Mr. Jurg Burri and Mr. Rolf Frei about the mass production of the Hong Kong satellite manufacturing center. Once it's in the full swing, it can meet the requirements of the multi-variety, variable batch, and flexible production of small satellites; the Satellite Manufacturing Center also plays a role in satellite design and manufacturing collaboration, supply chain intelligent management, electromechanical thermal control, automated testing, intelligent testing, refined quality control and other capabilities. Mr. Jurg Burri and Mr. Rolf Frei were quite pleasantly surprised by this, and also affirmed the Group's strength in the field of commercial aerospace.

HKATG, which is actively expanding its business scope, has been promoting cooperation with various countries since it signed a cooperation memorandum of understanding with the Asia-Pacific Space Cooperation Organization (APSCO)last year, striving to establish international business links. It is known that the group is currently actively discussing cooperation plans with three Swiss companies on the operation of a nano-satellite Internet of Things network, the combination of launch vehicle structure and artificial intelligence, satellites, drones and aviation data, including the Swiss federal government which employs over 1,700 employees at 12 locations in 6 countries.

If the two parties implement the cooperation, the business layout of Hong Kong Aerospace Science and HKATG will span Europe and Asia.

It is unknown whether it is driven by the group's stable fundamentals and positive business prospects. HKATG's stock price has doubled since the beginning of the year, with an intraday year-to-date growth of up to 180%.  Since the group was included in the Hong Kong Stock Connect, it has been very popular with Southbound money. On 15 February, investors from the Mainland increased their holdings by 3.7518 million shares, As of the close of the day, Hong Kong Stock Connect holds a total of 82.9456 million shares of HKATG, accounting for 26.84% of the outstanding shares.

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SOURCE Hong Kong Aerospace Technology Group