Shanghai Hugong announced on the evening of October 16 that the company plans to invest 80 million yuan to set up a wholly-owned subsidiary in Shanghai Minhang District - Shanghai Huhang Satellite Technology Co., Ltd. (hereinafter referred to as "Shanghai Airlines"). The company is actively grasping the development opportunities of the aerospace military industry, and will accelerate the layout of the aerospace military industry and implement a key step in the strategic planning of the company's "smart manufacturing + aerospace military industry". At present, there is only one satellite manufacturing industry in the A-share listed companies. The establishment of the Shanghai Airlines satellite has made Shanghai Hugong the second satellite manufacturing company of A-shares.
According to statistics released by the American Industry Association (SIA) in June 2018, the global satellite industry revenue in 2017 was 269 billion US dollars, accounting for 79% of the space industry revenue. Compared with the United States, although the marketization of domestic commercial satellites started late, with the opening of national policies, social capital began to enter, and more and more enterprises joined the development, launch, operation, and data services of satellites. Link.