Meishan Emerges as a New Hub for the Satellite Industry: Global Experts Gather at the 3rd Meishan Satellite Application Industry Development Conference
CHENGDU, China, June 09, 2025 (GLOBE NEWSWIRE) -- On June 9, the 3 rd Meishan Satellite Application Industry Development Conference officially opened in Meishan City, Sichuan Province, China. Experts in remote sensing technology, aerospace, and related fields, along with representatives from international cooperation organizations, gathered in Meishan for an in-depth discussion on technological innovation, coordinated industrial chain development, and international cooperation models in the satellite industry, contributing insights and suggestions to help advance Meishan's satellite sector to a higher level.
A Media Snippet accompanying this announcement is available in this link.
The conference was sponsored by the China Association of Remote Sensing Application and the People's Government of Meishan City, organized by the Meishan Management Committee of Sichuan Tianfu New Area, and co-organized by Meishan Tianfu New Area Xingchan Investment Group Co., Ltd.
At the opening ceremony, the China Association of Remote Sensing Application released the 2025 Blue Book on the Development of China's Remote Sensing Application Sector. Keynote speeches were delivered by Li Deren, photogrammetry and remote sensing scientist and professor at Wuhan University; Zhu Ninghua, microwave photonics expert and director of the Institute of Intelligent Photonics at Nankai University; and Xu Ying, Beidou navigation system scientist and researcher at the Aerospace Information Research Institute of the Chinese Academy of Sciences.
Huantian Wisdom Technology Co., Ltd., the leading enterprise in Meishan's satellite industry, unveiled its platform "StarView Horizon", which integrates over 40 core spatiotemporal algorithms at the opening ceremony. It also signed cooperation agreements with Kazakhstan Temir Zholy, Kazakhstan Kazaerospace, and Malaysian Karuna Group for promoting satellite application projects.
In the past three decades, China's space industry has rapidly advanced. As a result, numerous cities known for their related industries have popped up across the country. In the realm of satellite technology, regions beyond traditional strongholds like Beijing, Shanghai, and Xi'an are now making significant strides in this sector, cities such as Meishan have emerged as new hubs for the satellite industry.
In recent years, Meishan City has seized the opportunity of commercial aerospace development, taking the lead in laying out the satellite application industry in Sichuan Province, and promoting the application of satellite remote sensing data in high-standard farmland, disaster prevention and reduction, resource survey, environmental protection, smart cities, and other fields. At present, Meishan has become the city with the largest number of commercial remote sensing satellites in Southwest China, ranking fourth in the country overall.
Meishan unveiled its satellite industry development plan (2024-2030) last year, outlining a strategic roadmap to build a globally competitive satellite industry cluster by 2030, targeting an industrial scale exceeding 10 billion yuan (about 1.39 billion U.S. dollars).
To achieve this ambitious goal, Meishan is actively advancing the development of key industrial projects. On December 30, 2024, the Western China Satellite Industrial Park, located in Meishan Tianfu New Area, officially began full operations. During this conference, nine new enterprises signed agreements to join the park, and one new science and technology innovation platform was introduced. To date, the park has attracted a total of 26 satellite-related enterprises and five scientific research platforms. By 2028, the scale of Meishan's satellite industry is expected to exceed 5 billion yuan.
On the other side, the Huantian Cloud Smart Computing Center -- the largest data center dedicated to the commercial satellite sector in Southwest China -- is about to be put into operation. It aims to address three major bottlenecks hindering the development of the sector: insufficient computing power, limited storage capacity, and low application efficiency.
"It is expected to complete the last piece of Meishan's aerospace industry layout, making the city one of the few places in China with comprehensive capabilities in satellite research and development, monitoring and control, application, and data transmission," Yang Zhenyu, deputy general manager of the Huantian Wisdom Technology Co., Ltd., owner of the new infrastructure, said.
Source: The Meishan Management Committee of Sichuan Tianfu New Area
CONTACT: Contact person: Ms. Hou, Tel: 86-10-63074558.Sign in to access your portfolio
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The increase can be attributed to lower costs for glass bottles and inbound freight due to the cost savings programs implemented by the Company, and the inclusion of the OGSP. Gross margin is also continuing to be impacted by channel mix and inflationary cost pressures in concentrate, packaging and other raw materials. In response to these margin pressures, the Company is continuing to execute cost savings programs and formulation changes relating to these inputs. For the year ended March 31, 2025, these programs have resulted in $10.7 million of cost savings (2024 - $9.3 million). As a percentage of revenue, selling and administrative expenses decreased to 34.7% and 26.6% for the three months and year ended March 31, 2025, respectively, compared to 42.1% and 28.4% in the prior year. Selling and administrative expenses in the fourth quarter of fiscal 2024 included $6.5 million relating to the retirement allowance and consulting agreements entered into as part of John Peller's retirement and transition and $3.0 million in legal and advisory fees incurred by certain shareholders in connection with these agreements. Offsetting the non-recurring expenses from 2024, was higher compensation and higher selling costs as a result of the strong performance in fiscal 2025. Earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes ('EBITA') (see 'Non-IFRS Measures' section of this MD&A) was $13.5 million in the fourth quarter of fiscal 2025, compared to $9.3 million in the fourth quarter of prior year. EBITA increased to $62.9 million for the year ended March 31, 2025 compared to $50.3 million in prior year period. Interest expense for the three months and year ended March 31, 2025 has decreased by 22.4% and 4.4% respectively compared to the prior year due to lower average debt levels and lower interest rates in fiscal 2025 compared to prior year. The Company recorded a net unrealized non-cash loss in fiscal 2025 of $1.8 million related to mark-to-market adjustments on interest rate swaps and foreign exchange contracts compared to a loss of $0.6 million in the prior year. The Company recorded a loss of $0.7 million in the fourth quarter of fiscal 2025 compared to a gain of $1.0 million in the same quarter in the prior year. The Company has elected not to apply hedge accounting and accordingly the change in fair value of these financial instruments is reflected in the Company's consolidated statement of earnings (loss) each reporting period. These instruments are considered to be effective economic hedges and are expected to mitigate the short-term volatility of changing foreign exchange and interest rates. Other expenses (income), net were $0.6 million and $3.5 million for the three months and year ended March 31, 2025. The expense in fiscal 2025 related primarily to a restructuring initiative completed in fiscal year to align the Company's business structure with the changing retail landscape in Ontario. During the year ended March 31, 2025, the Company undertook certain tax planning initiatives as it relates to capital gains with respect to the Port Moody lands. This included transferring the beneficial interest in the land to a newly registered partnership. All parties associated with the limited partner are within the consolidated APL group and there has been no legal ownership change. In March 2025, the Government of Canada announced the cancellation of the previously proposed legislation changes to the capital gains inclusion rate. Consequently, the beneficial interest in the Port Moody lands was transferred at cost rather than at fair value as originally contemplated. The transaction had no impact on the Company's operating results or cash flows. The Company incurred a net loss of $0.7 million (loss of $0.02 per Class A share) for the fourth quarter of fiscal 2025 compared to a net loss of $6.9 million (loss of $0.17 per Class A share) in the fourth quarter of the prior year. For the year ended March 31, 2025, the Company generated net earnings of $11.1 million ($0.26 per Class A share) compared to a net loss of $2.9 million (loss of $0.07 per Class A Share) in the prior year. Investor Conference Call The Company will hold a conference call to discuss the results on Thursday, June 12, 2025 at 10:00 a.m. ET. Paul Dubkowski, CEO, Renee Cauchi, CFO and Patrick O'Brien, President and CCO, will host the call, with a question and answer period following management's presentation. Conference Call Dial In Details: Date: Thursday, June 12, 2025 Time: 10:00 a.m. (ET) Dial-in numbers: Local Toronto / International: (437) 900-0527 North American Toll Free: (888) 510-2154 RapidConnect: Webcast: A live webcast will be available at Replay: Following the live call, a recording will be available on the Company's investor relations website at About Andrew Peller Limited Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench , Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction . Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at . The Company utilizes EBITA (defined as earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes) to measure its financial performance. EBITA is not a recognized measure under IFRS. Management believes that EBITA is a useful supplemental measure to net earnings, as it provides readers with an indication of earnings available for investment prior to debt service, capital expenditures, and income taxes, as well as provides an indication of recurring earnings compared to prior periods. Readers are cautioned that EBITA should not be construed as an alternative to net earnings determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating, investing, and financing activities as a measure of liquidity and cash flows. The Company also utilizes gross margin (defined as revenue less cost of goods sold, excluding amortization). The Company's method of calculating EBITA and gross margin may differ from the methods used by other companies and, accordingly, may not be comparable to measures used by other companies. Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B). FORWARD-LOOKING INFORMATION Certain statements in this news release may contain 'forward-looking statements' within the meaning of applicable securities laws including the 'safe harbour provisions' of the Securities Act (Ontario) with respect to APL and its subsidiaries. Such statements include, but are not limited to, statements about the growth of the business; its launch of new premium wines and craft beverage alcohol products; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words 'believe', 'plan', 'intend', 'estimate', 'expect', or 'anticipate', and similar expressions, as well as future or conditional verbs such as 'will', 'should', 'would', 'could', and similar verbs often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: future grape, glass bottle, and wine and spirit prices; its ability to obtain grapes, imported wine, glass, and other raw materials; fluctuations in foreign currency exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian and international wine markets; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labelling of its products; the regulation of liquor distribution and retailing in Ontario; the application of federal and provincial environmental laws; and the impact of increasing competition. These forward-looking statements are also subject to the risks and uncertainties discussed in this news release, in the 'Risks and Uncertainties' section and elsewhere in the Company's MD&A and other risks detailed from time to time in the publicly filed disclosure documents of Andrew Peller Limited which are available at . Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company's forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise. For more information, please contact: Craig Armitage and Jennifer Smith ir@ Source: Andrew Peller Limited
