DRINDA's stock soared 17.24% during intraday trading on Tuesday, driven by a successful capital raise and positive industry developments.
The company completed a placement, issuing 18.682 million new H shares at HK$22.00 per share, raising net proceeds of approximately HK$398 million. The funds are allocated with 45% for the research, development, and production of space photovoltaic cell-related products, 45% for equity investments and cooperation in the commercial aerospace sector, and 10% for supplementing working capital.
Optimism is further fueled by industry trends, including SpaceX's application to launch a constellation of up to 1 million satellites and build an orbital AI data center network. Analysts from Guohai Securities and CICC point to sustained high growth in demand for space photovoltaics and recommend seizing opportunities from the industry-wide transformation.
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