HK Stock Market Move | Hainan Drinda New Energy Technology (02865) surged over 19%; the company's A-shares hit the daily limit up this morning as Shanghai ramps up satellite internet

Hainan Drinda New Energy Technology (02865) surged sharply, with the company's A-shares hitting the daily limit up this morning. As of press time, it rose 17.98% to HK$12.47, with a turnover of HK$182 million. On the news front, six Shanghai government departments publicly released an action plan for the development of the satellite internet industry (2027-2030), proposing that by 2030, Shanghai's satellite internet industry will have more than 3,000 satellites in orbit, with the core industry scale exceeding RMB80 billion. In addition, at the 2026 Satellite Internet Industry Ecosystem Conference, the "Star Hub Plan" was officially announced with a three-phase thousand-satellite deployment plan, specifying the development goal of completing the networking of 800 computing satellites and 200 edge computing satellites by 2032, with space-based computing power reaching millions of TOPS. Public information shows that Jietai Aerospace and Xuntian Qianhe, subsidiaries of Hainan Drinda New Energy Technology, have respectively expanded into space photovoltaics and satellites, forming an industrial collaborative closed loop of "materials-components-systems-in-orbit verification." As of September 20, Xuntian Qianhe has successfully delivered 14 satellites, 6 of which have space-based computing capabilities. In the third quarter of this year, the company achieved operating revenue of RMB2.042 billion, up 37.4% quarter-on-quarter; net profit attributable to shareholders was -RMB175 million, a quarter-on-quarter reduction in loss of RMB92 million.