PR83568

HONG KONG, April 3, 2020 /PRNewswire=KYODO JBN/--

Hong Kong Aerospace Technology Group (HKATG) announced it aims to launch the

"Golden Bauhinia No.1" low-orbit high frequency satellite in June from China.

The planned launch marks an important milestone in the company's "Golden

Bauhinia" space remote sensing project.

The rapid development of international commercial aerospace makes it one of the

most dynamic industries after the Internet, AI and 5G. According to the US

Satellite Industry Association (SIA), commercial aerospace revenue was US$277.4

billion in 2018 and is expected to increase 10 percent per year.

Humanity is shifting from needing an aerospace industry to dependency; with the

strategic and commercial value of space infrastructure becoming ever more

apparent. As the modern aerospace industry takes shape, the value of orbit and

spectrum base resources will become highly sought-after "space real estate."

The strategic value of the aerospace industry has driven investment into

commercial aerospace organizations in Europe and America; with the market value

of commercial aerospace enterprises listed in the US continually reaching new

heights.

HKATG is the first International Astronautical Federation's member in Hong

Kong. Mr. SUN FENGQUAN, Chairman of the Board of Directors of HKATG, said "the

Greater Bay Area aerospace industry generates tens of billions of dollars in

demand each year. The new development direction of HKATG is centred on regional

urban agglomeration, and launching the "Golden Bauhinia Constellation."

Using mobile target monitoring, space AI and dynamic change monitoring, the

"Golden Bauhinia Constellation" aims to achieve commercial application and

development of communications, navigation, and remote sensing systems with

global 24-hour online tracking and the ability to re-visit key areas in under

30 minutes.

The "Golden Bauhinia" project aims to launch 165 low-orbit, high-frequency

satellites in 2020 covering the Guangdong-Hong Kong-Macao Greater Bay Area and

serve the world's fastest-growing urban centres. The satellite to relaunched in

June was designed, manufactured and patented by HKATG.

About Hong Kong Aerospace Technology Group

Hong Kong Aerospace Technology Group (HKATG) was established in July 2019 as

the first aerospace business group in Hong Kong-based on the aerospace industry

chain of satellite remote sensing, satellite manufacturing, satellite

navigation, satellite communications and satellite remote sensing ground

receiving stations. In 2019, HKATG became the first International Astronautical

Federation member in Hong Kong.

Website: www.hkatg.com

Media contact:

Mr. Kwok

Tel:852-25725008

Source: Hong Kong Aerospace Technology Group