Signing Memorandum of Understanding on Cooperation Between Asia-Pacific Space Cooperation Organization (APSCO) And Hong Kong Aerospace Technology Group Limited (HKATG) (1725.HK)

HONG KONG, Nov. 18, 2022 /PRNewswire/ -- The Asia-Pacific Space Cooperation Organization (APSCO) is an intergovernmental non-profit international organization, composed of countries in the Asia-Pacific region. The APSCO Council is the highest decision-making body for APSCO and is composed of ministers or ministerial representatives of member states responsible for space affairs. Following the APSCO Leadership Development Forum, the 16th Council Meeting of APSCO was held in Pakistan from November 15 to 16, 2022, with the participation of representatives from its member states.

On 16th November 2022, under the joint witness of Mr. Jose Antonio Garcia Morgan, Chairman of APSCO Council and Director of the Peruvian Space Agency (CONIA), all member states of APSCO Council and all delegates, Mr. Sun Fengquan, Co-Chairman and Chief Executive Officer of HKATG (1725.HK), and Ms. Yu Qi, Secretary General of APSCO, signed a memorandum of understanding on cooperation, focusing on providing satellite manufacturing and telemetry, tracking, and command services, building the Asia-Pacific aerospace industry chain, carrying out capacity building, conducting education and training, and continuing international cooperation projects to carry out all-round cooperation.

The signing of the MOU was actively supported and widely welcomed by all the participants, and it is of great significance: First, comprehensively deepen the cooperation between the HKATG and APSCO, and contribute to the development of global commercial aerospace; Second, strive to contribute to the economic development, livelihood security and national modernization of APSCO member countries, by taking full advantages of HKATG; Third, provide high-quality services to member states in satellite constellation applications, satellite manufacturing and precision manufacturing, and satellite launch site services.

Under the framework of this MOU, HKATG and APSCO will co-name the Golden Bauhinia-1 05 satellite to be launched in early December 2022 with the suggested name "Golden Bauhinia 05/APSCO-1". And HKATG will cooperate with APSCO and its member states to explore the possibilities of specific cooperation and sign project cooperation agreements around constellation co-naming and application services, satellite manufacturing, joint construction of space industry chain, joint development of space education, and other aspects.

 


Source: Hong Kong Aerospace Technology Group Related Stocks: HongKong:1725 OTC:ASTGY
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