DRINDA Shares Surge Over 11% as Space Solar Developments Continue, Company Builds Space Tech Ecosystem

Stock News
Feb 09

DRINDA (02865) rose more than 11%, with the stock up 11.12% to HK$41.36 at the time of writing, generating a turnover of HK$134 million. According to informed sources, Tesla is evaluating multiple U.S. locations to expand its solar cell manufacturing operations, targeting an annual solar manufacturing capacity of 100 gigawatts within the next three years. Additionally, Elon Musk recently emphasized in an interview that space could become the preferred location for AI infrastructure within 36 months, possibly even 30 months, noting that solar cells generate five times more power in space than on Earth. Notably, an article highlighted the vast long-term potential of space-based photovoltaics, though it remains in the early exploratory and validation stages, while also underscoring the advantages and space initiatives of domestic photovoltaic companies. According to Jinrui Securities, based on the National Enterprise Credit Information Publicity System, the controlling shareholder of Shanghai Fuyao Xinghe has been changed to DRINDA, which now holds a 60% stake, and the legal representative has been changed to DRINDA's Vice Chairman Zheng Hongwei. Xuntian Qianhe, a wholly-owned subsidiary of Shanghai Fuyao Xinghe, is a leading domestic satellite manufacturer. The firm stated that DRINDA's acquisition of the satellite company is actively building a space technology ecosystem, and Starcloud has submitted a plan for 88,000 computing satellites. It believes that short-term sentiment fluctuations in space photovoltaics do not alter the reality of the industry's rapid development and reaffirmed its positive outlook.

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