SOURCE: Kuang-Chi Science Limited

Kuang-Chi Science Limited

September 15, 2014 07:35 ET

Kuang-Chi Science (00439.HK) Signs the First Space Service Operation Contract, Expanding the Business to the International Market

HONG KONG, CHINA--(Marketwired - Sep 15, 2014) - On the morning of September 12, Kuang-Chi Science Limited (hereinafter referred to as Kuang-Chi Science) (HKSE: 00439) has signed space technology consultation agreement and space services operating cooperation agreement with Pengxin Global Resource Co., Ltd.(hereinafter referred to as Pengxin Resource) at Shenzhen Conference and Exhibition Center. On this signing ceremony, Kuang-Chi Science has also signed Strategic Cooperation Framework Agreement on Program of Big Data for Meteorological Environmental Observation with Meteorological Bureau of Shenzhen Municipality. The participants for the signing ceremony and press conference include Dr. Liu Ruopeng, Chairman of Board of Directors from Kuang-Chi Science Limited, Jiang Zhaobo, Chairman of Board of Directors from Shanghai Pengxin Group Co., Ltd., Wang Han, Director from Pengxin Global Resource Co.,Ltd, Mao Xia, Deputy Director from Meteorological Bureau of Shenzhen Municipality, and Gao Guohui, Deputy Secretary-general of Shenzhen Municipal People's Government.

Kuang-Chi Science and Pengxin Resource will ally to promote a series of applications including internet access, minerals exploration and mining, disaster relief and forest protection in the Democratic Republic of the Congo in Africa by utilizing space technologies and related innovative solutions. According to the needs of the Democratic Republic of the Congo, Pengxin Resource will pay Kuang-Chi Science HKD 15 million to get space technology advisory service for 6 months in Africa. Kuang-Chi Science and Penxin Resource will also set up a co-partnership company in Africa on the basis of obtaining relevant license so as to offer continuous novel space service for the local people.

Kuang-Chi Science and Meteorological Bureau of Shenzhen Municipality will perform all-round strategic cooperation on the aspects of meteorological sounding, ground meteorological observation, big data acquisition and analysis. Kuang-Chi Science decides to lift off a Near Space Craft at the end of this year or at the beginning of the next year, which will be the first practice of applying near space exploration technology in meteorological sounding.

Currently, internet access, acquisition of big data and space exploration are great needs of human beings, while Kuang-Chi Science is born for meeting with these needs of mankind. Kuang-Chi Science Limited, a high tech company listed on the main board of Hong Kong Stock Exchange (Stock Code: HK00439), engages in the business of novel space services. Guided by the value of "Dedication to the Innovation that Changes the World", Kuang-Chi Science is aimed at expanding living space for human beings. Its nickname "Alien Tech" implies that Kuang-Chi Science will bring human beings a more beautiful life with future technology.

Novel space services represent intelligent and all-round services in space layers of different heights by the use of various emerging space technologies. The services include a series of emerging fields, such as internet access, big data acquisition, space exploration and space service for individuals.

To explore and develop the Near Space for humanity, Kuang-Chi Science Ltd launched the program "Apollo", named after Kuang Chi's Apollo Base in Longgang District of Shenzhen. The base, surrounded by hills, was originally an abandoned farm that was used for raising pigeons. It is rebuilt by Kuang-Chi Science and now serves as the manufacture and testing base for near space exploration.

Near space is the region of Earth's atmosphere that lies between 20 to 100 km (65,000 to 328,000 feet) above sea level. The region, above where commercial airliners fly, but below satellites orbit, has remained unexplored. Compare to satellite, Near Space Aircraft cost significantly less in materials, launching and operation. Capable of powering itself and carrying more payloads, Near Space Aircraft is designed to have a long duration in near space and expected to provide more stable communication signal and high quality space service for the earth. 

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About Kuang-Chi Science Limited
Kuang-Chi Science Limited is a high tech company listed on the main board of Hong Kong Stock Exchange (Stock Code: HK00439.HK), and engages in the business of novel space services. Guided by the value of "Dedication to the Innovation that Changes the World", Kuang-Chi Science is aimed at expanding living space for human beings. Its nickname "Alien Tech" implies that Kuang-Chi Science will bring human beings a more beautiful life with future technology.

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    Yuqin Xu, Kuang-Chi Science Limited
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