HK Stock Market Move | Hainan Drinda New Energy Technology (02865) rose more than 7%. SpaceX applies to deploy one million satellites, institutions are optimistic about the benefits of space photovoltaics and equipment sectors.

Hainan Drinda New Energy Technology (02865) rose by more than 7%, reaching 7% at the time of publication, with a price of 38.54 Hong Kong dollars and a turnover of 1.24 billion Hong Kong dollars. On the news front, a new document from the Federal Communications Commission (FCC) in the United States shows that SpaceX is applying to launch and operate a constellation of up to 1 million satellites with unprecedented computing power (orbit data centers) to support advanced artificial intelligence. Guotai Haitong believes that as SpaceX advances satellite launches and related on-orbit applications, the trend of exploring orbit AI data centers is gradually emerging. As an important energy supply method in the space scene, photovoltaics are expected to gain more application opportunities in the construction process of orbit data centers, and related photovoltaic equipment manufacturers will continue to benefit. CMSC believes that the company is the first to lay out low-orbit and space photovoltaics. Recently, it disclosed a plan to contribute 30 million yuan in cash and acquire a 16.67% stake in Shanghai Xingyixinneng, becoming its second largest shareholder. The two parties will establish a joint venture company focusing on CPI film, combined products of CPI film and crystalline silicon cells, to enter the low-orbit and space photovoltaic market. Currently, the company's financial reports have potential, and it is not ruled out that there will be further mergers and acquisitions in the related fields. The company is the first to expand from ground photovoltaics to space photovoltaics, with advantages and deep accumulation in crystalline silicon manufacturing, and is expected to achieve additional growth in the global low-orbit satellite and space computing industry.