ADASPACE passes HKEX listing hearing: Guotai Junan International sole sponsor, launched world's first 12-satellite AI computing constellation in 2025

NewTimeSpace News: According to the HKEX on October 29, Adaspace Technology Co., Ltd. ("Adaspace") passed the HKEX listing hearing, with Guotai Junan International as the sole sponsor. Adaspace is a commercial aerospace company in China, with a strategic focus on satellites and related services as well as satellite-based solutions. Leveraging its core strengths in commercial aerospace and artificial intelligence (AI), the company designs and develops commercial satellites, ensures their stable operation and management, and provides customized satellite-based solutions.

According to the prospectus, as a pioneer in AI satellites, Adaspace launched China's first AI application satellite in December 2018, and developed and launched China's first AI large-model computing satellite in September 2024. On May 14, 2025, it developed and launched the world's first AI computing satellite constellation comprising 12 AI computing satellites. Since its inception and up to the latest practicable date, the company has independently developed six AI payloads, four AI application satellites and 26 AI computing satellites, and completed 15 space missions through launches. Based on its proprietary "Lingjing Engine", the company has expanded into satellite-based solution services across spatial intelligence and computing, digital city applications, urban governance and culture and tourism.

Driven by key progress in on-orbit verification and aerospace AI technologies, as well as upgrades to its satellite design and development capabilities, the company's revenue grew steadily from RMB507.5 million in 2023 to RMB553.5 million in 2024, and further to RMB702.7 million in 2025. For the six months ended June 30, 2026, revenue was RMB226.1 million, compared with RMB241.3 million in the same period of 2025.