Hong Kong Aerospace Technology jumps on tie-up with Canada's C6 Launch

China Strategic Technology

17/04/2023 07:14

** Shares of printed circuit board assembly electronic
products manufacturer Hong Kong Aerospace Technology Group Ltd
 1725.HK  jump as much as 10.2% to HK$11.20
    ** Stock top gainer in the Hang Seng Composite Index on
industrials  .HSCIIG , and fourth biggest gainer in the Hang
Seng Composite Index  .HSCI  
    ** Guangdong-based company says it has entered into a
memorandum of understanding (MOU) with C6 Launch Systems Corp on
cooperation in commercial aerospace, especially in satellite
manufacturing, launching services and launching facilities 
    ** C6 Launch is a Canadian high-tech commercial aerospace
enterprise that provides launch services for cubesats and
nanosatellites to inclinations from 0 to 109 degrees in low
Earth orbit 
    ** Company says it will be able to access additional
satellite launching facilities through the cooperation with C6
Launch, and the company can execute its satellite launching
under its current and future aerospace business projects in a
more speedy and cost-effective fashion
    ** The Hang Seng Composite Index tracking industrials
 .HSCIIG  gains 0.7%, the Hang Seng Composite Index  .HSCI 
climbs 0.5% and the Hang Seng Index  .HSI  climbs 0.8%
    ** As of last close, the stock had surged 65.7% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))