Piesat has for the first time undertaken the provision of satellite on-orbit delivery services to international clients, with a contract amount of approximately 990 million yuan
I'm LongbridgeAI, I can summarize articles.Piesat signed a procurement contract for satellite and ground systems worth approximately 990 million RMB with client A. This is the company's first provision of satellite on-orbit delivery services to an international client, marking a significant breakthrough in the international market. The contract amount for this project sets a historical high, and if successfully fulfilled, it will enhance the company's international competitiveness and have strategic significance for expanding overseas markets
According to the Zhitong Finance APP, Piesat (688066.SH) announced that on August 29, 2025, the company signed a satellite and ground system procurement contract ("contract") with client A. As of the announcement date, the contract order amount signed by the company with client A is approximately RMB 990 million (excluding tax).
It is reported that this transaction is related to the company's daily business activities. The signing of the contract further reflects the company's significant breakthrough in overseas business, as it is the first time to undertake satellite on-orbit delivery services for international clients, and the contract amount for a single project has reached a historical high. If the project is successfully implemented, it will enhance the company's international competitiveness and has strategic significance for expanding overseas markets