Hong Kong Aerospace Technology Group Limited (HK:1725) has released an update.
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USPACE Technology Group Limited is facing legal challenges as its three subsidiaries have been served writs for alleged breaches of tenancy agreements, amounting to approximately HK$47.4 million in claims. Despite these proceedings, the company remains optimistic and plans to showcase 100 satellites in Hong Kong, with production expected to conclude by Q1 2025. Investors are advised to exercise caution when dealing with the company’s securities.
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