USPACE Technology Group Announces Board Changes and Adopts New Company Logo

Rhea-AI Summary

USPACE Technology Group (Stock Code: 1725.HK) has announced significant changes to its Board of Directors and adopted a new company logo. Key appointments include:

1. H.E. Mohamed Ben Amor as Executive Director and Chairman of the Board
2. Mr. Sun Fengquan transitioning to Honorary Chairman while remaining CEO
3. Mr. Boris Tadić, former President of Serbia, as Independent Non-Executive Director

These changes aim to optimize the Board structure, enhance corporate governance, and facilitate international business development. The new appointees bring extensive experience in the aerospace sector, which is expected to boost USPACE's global competitiveness and expand its cooperation network in the global aerospace market.

The company, headquartered in Dubai and Hong Kong, focuses on satellite manufacturing and is building an integrated commercial aerospace ecosystem. USPACE's globalization strategy continues to progress as it innovates and creates core satellite products.

Positive

• Appointment of experienced leaders with global expertise in the aerospace sector
• Optimization of Board structure and enhancement of corporate governance
• Potential for improved international competitiveness and business development
• Progress in globalization strategy and aerospace ecosystem development

Negative

• Resignation of three board members, including non-executive and independent non-executive directors

Appoint AICTO General Director H.E. Mohamed Ben Amor as Executive Director and Chairman of the Board

Mr. Sun Fengquan Transitions to Honorary Chairman and Remains as CEO

Enhance the Global Representation of the Board and Seize the Opportunities in the Global Aerospace Market

HONG KONG, Oct. 2, 2024 /PRNewswire/ -- USPACE Technology Group Limited ("USPACE " or "the Group"; Stock Code: 1725.HK) announces that with effect from 2 October 2024, the Group has appointed H.E. Mohamed Ben Amor, general director of the Arab Information and Communications Technologies Organization(AICTO), as executive Director and chairman of the Board. Following Mr. Sun Fengquan's resignation as executive Director and chairman of the Board, Mr. Sun has been appointed as the honorary chairman of the Company and remains as Chief Executive Officer. The Group has also appointed Mr. Boris Tadić, a former President of Serbia, as independent non-executive Director. These changes optimize the Board structure, enhance corporate governance, and facilitate the Group's international business development. Additionally, the Group has adopted a new company logo, refreshing its corporate image and marking a new phase of development.

USPACE said both the Group's newly appointed executive Director and chairman of the Board, H.E. Ben Amor, and independent non-executive Director, Mr. Tadić, possess extensive experience and expertise in the aerospace sector. Their global vision and extensive networks are expected to significantly enhance the Group's international competitiveness, facilitating the expansion of its global cooperation network and enabling it to better capitalize on development opportunities in the global aerospace market.

H.E. Ben Amor obtained his Master's degree in International Project Management and Human Resources from the National Conservatory of Arts and Crafts, Paris, in 2011. H.E. Ben Amor has more than 10 years of experience in project management, technical operations, telecommunications and ICT development and policy, and ICT infrastructure development. H.E. Ben Amor is currently the general director of the Arab Information and Communication Technologies Organization (AICTO), a specialized Arab governmental organization working under the aegis of the Arab League which aims to promote development of ICT in the Arab region, a position he held since 2016. From 2011 to 2015, H.E. Ben Amor was Special Advisor to the Minister of the Tunisia Ministry of Information and Communication Technologies, where he was in charge of the International Cooperation Bureau. Prior to the above, H.E. Ben Amor held various positions in the Tunisia Telecommunications Research and Studies Agency for over 10 years, he last held the position of Director General from 2009 to 2011.

Mr. Tadić received an Honorary Doctorate from Dimitrie Cantemir Christian University in 2009. Mr. Tadić was formerly the President of Serbia from 2004 to 2012. Prior to that he served as the Minister of Defense of Serbia and Montenegro from 2003 to 2004 and the Minister of Telecommunications of Serbia and Montenegro from 2000 to 2003.

The changes to the Group's Board of Directors include that with effect from 2 October 2024, Professor Guo Huadong has resigned from his office of non-executive Director, Dr. Mazlan Binti Othman has resigned from her office of non-executive Director, and Professor Wang Jianyu has resigned from his office of independent non-executive Director. Each of Professor Guo, Dr. Othman and Professor Wang has confirmed that he/she has no disagreement with the Board and that there is no matter in relation to their respective resignation that needs to be brought to the attention of the Stock Exchange.

USPACE's globalization strategy continues to make substantial progress. The Company is gradually building a complete aerospace ecosystem, while innovating and creating core satellite products.

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About USPACE Technology Group Limited (USPACE)

USPACE Technology Group Limited (USPACE) is headquartered in Dubai, United Arab Emirates and Hong Kong, China. The Company is committed to using outer space technology and application services to promote the sustainable development of the Earth and the progress of human society, aiming to become a leading provider of outer space technology and Earth application services.

The Group focuses on satellite manufacturing as the core of its business development, building an integrated commercial aerospace ecosystem, including satellite component manufacturing, precision electronics manufacturing, satellite data applications, satellite measurement and control, satellite launches, and the operation and management of the Abu Dhabi Space Eco City in the United Arab Emirates.

For further information, please visit https://www.uspace.com/

or contact: 

iPR Ogilvy Limited
Callis Lau /  Lorraine Luk
Tel: (852) 2136 6952 / 2169 0467
Fax: (852) 3170 6606
Email: callis.lau@iprogilvy.com / lorraine.luk@iprogilvy.com

 

 

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SOURCE USPACE Technology Group Limited

FAQ

Who are the new key appointments to USPACE Technology Group's Board of Directors?

USPACE (1725.HK) has appointed H.E. Mohamed Ben Amor as Executive Director and Chairman of the Board, and Mr. Boris Tadić, former President of Serbia, as Independent Non-Executive Director. Mr. Sun Fengquan has transitioned to Honorary Chairman while remaining CEO.

What is the main focus of USPACE Technology Group's business?

USPACE (1725.HK) focuses on satellite manufacturing as the core of its business development, building an integrated commercial aerospace ecosystem including satellite component manufacturing, precision electronics, data applications, and space-related services.

How might the new board appointments impact USPACE's business strategy?

The new appointments are expected to enhance USPACE's (1725.HK) global competitiveness, facilitate international business development, and help the company capitalize on opportunities in the global aerospace market due to the appointees' extensive experience and networks in the sector.

What changes has USPACE Technology Group made to its corporate image?

USPACE (1725.HK) has adopted a new company logo, refreshing its corporate image and marking a new phase of development for the company.