New Stock News | China Aerospace Stars files again with the Hong Kong Stock Exchange to launch the world's first AI computing satellite constellation consisting of 12 AI smart satellites.

According to the disclosure on August 25 by the Hong Kong Stock Exchange, Chengdu Guoxing Aerospace Technology Co., Ltd. (referred to as Guoxing Aerospace) submitted an application to the Hong Kong Stock Exchange main board, with GUOTAI JUNAN I as the exclusive sponsor. The company had submitted an application to the Hong Kong Stock Exchange on January 27. According to the prospectus, Guoxing Aerospace is a participant in the full chain of China's commercial aerospace industry, with a strategic focus on satellites and related services, as well as satellite-based solutions. The company's core strengths lie in commercial aerospace and artificial intelligence (AI), designing and producing commercial satellites to ensure stable operations and management, as well as providing customized satellite-based solutions to meet diverse customer needs. According to data from Frost & Sullivan, based on revenue projections for 2024, the company ranks second among all private commercial aerospace companies in China that manage the full value chain of satellites. As a leading player in the research, design, and production of AI calculation satellites in China, the company launched China's first AI application satellite in December 2018, and the first AI calculation satellite in February 2024. On May 14, 2025, the company successfully launched the world's first constellation of AI calculation satellites consisting of 12 satellites. As of the latest feasible date, Guoxing Aerospace has independently developed 6 AI payloads, 4 AI application satellites, and 16 AI calculation satellites, and successfully completed 14 space missions. XSD-15, according to Frost & Sullivan, became the world's first satellite to validate the operation of a large AI model in orbit. In terms of finances, for the fiscal years 2022, 2023, 2024, and the six months ending on June 30, 2025, the company's revenues were approximately RMB 177 million, RMB 508 million, RMB 553 million, and RMB 241 million respectively; during the same periods, the annual/periodic losses were approximately RMB 90.7 million, RMB 139 million, RMB 177 million, and RMB 192 million respectively. Guoxing Aerospace stated that the loss situation is mainly due to the comprehensive impact of the following factors: (i) relatively high research and development expenses, (ii) fluctuations in satellite and related services gross profit margins, and (iii) relatively high administrative expenses, mainly including non-cash equity incentive arrangements. At the same time, the company's revenue increased by 9.0% from RMB 508 million in 2023 to RMB 553 million in 2024, mainly due to an increase in revenue from satellites and related services, attributed to the recognition of revenue from the six AI satellites launched in 2024. The increase in satellite sales reflects customer recognition of the company's technological progress and capabilities, particularly in the field of AI calculation satellites.