Marking a New Phase in Satellite Manufacturing and Departure from Production Line

Manufacturing Capabilities Gain International Recognition

HONG KONG, June 13, 2024 /PRNewswire/ -- USPACE Technology Group Limited ("USPACE " or "the Group"; Stock Code: 1725.HK) is pleased to announce that the Group's first test satellite of Alya-1 Satellite Constellation for Brazil's Alya Satélite e Produ??o de Fotografias Aéreas Limitada ("Alya Space") successfully finished factory test and left the production line, which also represents inaugural satellite's departure from production line of USPACE. This marks a significant milestone for USPACE as it evolves from pioneering research and development to full-scale production and departure from production line, laying a solid foundation for further expansion of its international aerospace business.

In October 2023, USPACE signed a US$675 million worth contract with Alya Space, with scope of services including manufacturing of 108 earth observation satellites for the Alya-1 Satellite Constellation. The test satellite's departure from the production line represents the first test satellite of the Alya-1 Satellite Constellation to be verified and is specifically engineered for partial technical validation of its functionalities. Upon successful verification, the Group will proceed with the manufacturing of the remaining 108 satellites, underscoring the global acknowledgment of USPACE's satellite manufacturing prowess and adherence to quality standards.

Alya Space has successfully registered the orbital frequency for its satellite constellation with the International Telecommunication Union (ITU), and the test satellite is scheduled for launch in the fourth quarter of 2024. Furthermore, the Group has supplied Alya Space with monitoring image data of the Amazon rainforest and will continue to provide long-term monitoring data for the Amazon region under the terms of the contract, thereby contributing to environmental conservation efforts.

USPACE's globalization strategy continues to make significant strides, including active advancement in the construction of the Abu Dhabi Space Eco City in the United Arab Emirates. Based in Dubai and Hong Kong, China, the Group has signed a master procurement agreement with the Asia-Pacific Space Cooperation Organization (APSCO). The Group also plans for a dual listing in the Middle East. Additionally, the Group has added Nathan Whigham, a prominent investor and financial expert known for his involvement with SpaceX, and Shaikh Mohammed Maktoum Juma Al-Maktoum, a member of the Dubai royal family, to its board of directors.