DRINDA (02865) saw its share price rise 13.38% during the morning session, currently trading at HK$42.20 with a turnover of HK$361 million.

According to Guojin Securities, information from the National Enterprise Credit Information Publicity System indicates that the controlling shareholder of Shanghai Fuyao Xinghe has changed to DRINDA, which now holds a 60% stake. The legal representative has been changed to Zheng Hongwei, Vice Chairman of DRINDA. Xuntian Qianhe, a wholly-owned subsidiary of Shanghai Fuyao Xinghe, is a leading domestic satellite manufacturer.

The brokerage firm believes that DRINDA's acquisition of the satellite company represents an active effort to build a space technology ecosystem. Additionally, Starcloud has submitted a plan for 88,000 computing satellites. Short-term sentiment fluctuations in space-based photovoltaics do not alter the reality of the industry's rapid development, and the firm reiterates its strong positive outlook.