HKATG May See Threefold Growth in Revenue

HONG KONG, Jan. 27, 2022 /PRNewswire/ -- Since Hong Kong Aerospace Technology Group, Ltd. (1725) (HKATG) has purchased the entire set of integrated supporting ground facilities and related services from CGWI last October, the Group is equipped with the capability of manufacturing a satellite from scratch.

The Group announced on 24 January 2022 that SZ Gang Hang Ke entered into the second Confirmation with CGWIC to set out the specific terms for the launch of the two satellites named ''Golden Bauhinia Satellite No. 3'' and ''Golden Bauhinia Satellite No. 4''. The two satellites are scheduled to be launched in Q3 2022, with the target launch time tentatively being scheduled in July 2022, and will continue to form and constitute part of the "Golden Bauhinia Constellation".

Plans to launch 25 satellites in 2022

According to the Board of HKATG, in order to further announce that for the formation of the ''Golden Bauhinia Constellation'', the Group has planned to launch 25 satellites, including the two satellites named ''Golden Bauhinia Satellite No. 3'' and ''Golden Bauhinia Satellite No. 4'' in 2022. The further launch of satellites this year will provide more and will boost the speed of receiving aerospace data. This will enhance the Group's quantity and quality for satellite data reception and application services for the ''Golden Bauhinia Constellation'' project, which will facilitate the development of various industrial and commercial activities related to remote sensing data processing, software development, and other professional value-added services in Hong Kong and promoting the development of the aerospace industry in the Guangdong-Hong Kong-Macau Greater Bay Area. With the one-stop service capability and the increasing number of service contracts, HKATG is expected to see twofold or even threefold growth in revenue in the short run, which is a positive catalyst for its stock price.

50-day moving average Offers Strong Support

Despite stock markets across the world have plunged into the red in recent days, according to the transaction record data from 24 to 27 January (after the announcement of the second Confirmation was made), an average of 70% of transactions of HKATG were Active Buy, and its current price provides a good opportunity of "Buy the Dip".

SOURCE Hong Kong Aerospace Technology Group