LA PLATA, Maryland — Hong Kong Aerospace Technology Group, whose majority-owned Aspace subsidiary just inaugurated a large satellite production facility, reported a 44.4% drop in gross profit and a 27.1% decline in revenue for the six months ending June 30.
The company said the costs associated with the move to become a global satellite builder were responsible for the decline in profit. The company’s principal business has been producing printed circuit boards and other electronics products.
Hong Kong Aerospace is the majority shareholder in . . .
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