USPACE Technology Group Rolls out 6 Highly Globally Competitive Commercial Optical Satellites Marking a New Milestone in Satellite Mass Production and Commercialization

Rhea-AI Summary

USPACE Technology Group (Stock Code: 1725.HK) has unveiled 6 highly competitive commercial optical satellites, marking a significant milestone in satellite mass production and commercialization. The satellites, with resolutions ranging from 5 meters to 0.5 meters, are priced between USD35,000 and USD990,000. This launch coincides with the first anniversary of USPACE's ASPACE Hong Kong Satellite Manufacturing Center, which has an annual production capacity of 500 satellites.

The company aims to capture the growing demand from emerging markets and SMEs with its disruptively low-priced satellites. USPACE's globalization strategy involves building a complete aerospace ecosystem and innovating core satellite products. The commercial optical satellite market shows enormous growth potential, driven by increasing demands for satellite remote sensing data, communication services, and navigation.

Positive

• Launch of 6 competitively priced commercial optical satellites, expanding market reach
• Disruptively low pricing strategy, with satellites priced between USD35,000 and USD990,000
• Annual production capacity of 500 satellites at the ASPACE Hong Kong Satellite Manufacturing Center
• Expansion into the global commercial aerospace market, potentially increasing market share
• Diverse product range including nearly 100 types of satellite components and application services

Negative

• None.

HONG KONG, July 25, 2024 /PRNewswire/ -- USPACE Technology Group Limited ("USPACE " or "the Group"; Stock Code: 1725.HK) is pleased to announce the rollout of 6 commercial optical satellites (For details, please refer to Appendix) and related aerospace products. With a highly competitive pricing strategy, the Group aims to enter the global market and expand its customer base, capturing the rapidly growing demand from emerging markets and small and medium-sized enterprises (SMEs). It marks a new milestone in USPACE's satellite mass production and commercialization efforts, representing a significant step forward in the Group's globalization strategy.

On 25 July 2024, marking the first anniversary of the establishment of the Group's ASPACE Hong Kong Satellite Manufacturing Center, the Group unveiled its disruptively low-priced commercial optical satellites on its official website. These satellites offer resolutions ranging from 5 meters to 0.5 meters and are priced between USD35,000 and USD990,000. Among them, the most notable in the market is the commercial optical satellite with a high resolution of 0.5 meters, priced at only USD990,000. The Group also plans to offer nearly a hundred types of satellite components and application services, including separation seats, multi-satellite dispensers, and 0.5-meter resolution lightweight cameras.

The Group is confident that through this series of satellite products, it can directly participate in the competition of the global commercial aerospace market, rapidly enhance its brand awareness, significantly expand its customer base and further increase its market share.

The growth potential of the commercial optical satellite market is enormous. With the rapid development of emerging technologies such as the Internet of Things and artificial intelligence, the demands for satellite remote sensing data, communication services, and navigation and positioning are increasing rapidly. The emergence of commercial optical satellites with competitive advantages and huge market demand will effectively lower the barriers to entry for various satellite applications, unleashing market potential and creating tremendous commercial value.

In July 2023, USPACE successfully completed the construction of its 20,000 square meter ASPACE Hong Kong Satellite Manufacturing Center, the first of its kind in the city. The center boasts the capability to simultaneously develop multiple types of satellites, including communication, navigation, remote sensing, and radar satellites ranging from 10 kilograms to 1,000 kilograms, with an annual production capacity of 500 satellites.

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.

Appendix: Price List of USPACE's Commercial Optical Satellites

Product	Price
0.5-meter resolution commercial optical satellite	USD990,000
0.75-meter resolution commercial optical satellite	USD740,000
1-meter resolution commercial optical satellite	USD450,000
1.5-meter resolution commercial optical satellite	USD300,000
3-meter resolution commercial optical satellite	USD90,000
5-meter resolution commercial optical satellite	USD35,000

 

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/

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SOURCE USPACE Technology Group Limited

FAQ

What is the price range of USPACE's new commercial optical satellites?

USPACE's new commercial optical satellites are priced between USD35,000 and USD990,000, depending on their resolution capabilities.

What is the resolution range of USPACE's new commercial optical satellites?

USPACE's new commercial optical satellites offer resolutions ranging from 5 meters to 0.5 meters.

What is the annual production capacity of USPACE's ASPACE Hong Kong Satellite Manufacturing Center?

The ASPACE Hong Kong Satellite Manufacturing Center has an annual production capacity of 500 satellites.

When was USPACE's ASPACE Hong Kong Satellite Manufacturing Center established?

USPACE's ASPACE Hong Kong Satellite Manufacturing Center was established in July 2023, one year prior to the announcement of the new commercial optical satellites.

What is USPACE's stock code on the Hong Kong Stock Exchange?

USPACE Technology Group's stock code on the Hong Kong Stock Exchange is 1725.HK.