“Asia Satellite Telecommunications Holdings Limited known as its brand name AsiaSat is a commercial operator of communication spacecraft. AsiaSat is based in Hong Kong but incorporated in Bermuda. It is a red chip company, as it was (jointly) controlled by Chinese state-owned CITIC Group indirectly. It had a market capitalization of HK$3.251 billion on 30 June 2017.
In December 2013, AsiaSat commissioned AsiaSat 9 to be built by Space Systems/Loral, originally intending it to be launched in Q2 2017 in order to replace AsiaSat 4 at 122 degrees east. In early 2015, AsiaSat reported a nine percent revenue drop, and a 27 percent drop in contracts, pointing to a regional oversupply of satellite communication services in the Asian regions it serves. At that time, AsiaSat had four commsats in operation and had recently launched two more, AsiaSat 6 and AsiaSat 8, which had added 22 percent additional bandwidth capacity into the shrinking market. Although revenues were down just nine percent—to HK$1365 billion—2014 profits declined by 25 percent over 2013, to HK$559 million.”
Video credit: Roscosmos