Movement Alert|DRINDA Falls 5.29% in Regular Trading, Profit-Taking After Star Pivot Plan Rally as Space PV Yet to Generate Revenue

Market Focus07-24

On July 24, DRINDA fell 5.29% in regular trading, trading at HK$16.03/share, with turnover of HK$32.30 million. The decline follows consecutive gains of 7.34% on July 20 and 5.36% on July 23, suggesting short-term profit-taking as the catalyst from the Star Pivot Plan satellite constellation announcement fades.

On the news front, the company previously stated on its investor interaction platform that its space photovoltaic products are currently in the laboratory R&D and in-orbit verification stage, with no revenue or profit generated at this time. The Star Pivot Plan, unveiled at the World Artificial Intelligence Conference on July 18, involves the deployment of 1,000 space-based computing satellites. DRINDA's subsidiary Jietai Aerospace supplies the energy system for the central computing satellite using a crystalline silicon-perovskite tandem power generation solution with 15kW output. However, the lack of near-term monetization appears to have tempered investor enthusiasm following the initial rally.

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