Singapore, 30 May 2018 – Singapore Exchange Mainboard-listed Addvalue Technologies Ltd (“Addvalue”, together with its subsidiaries, the “Group”), a leading player in the mobile satellite communications industry, today announced that its Beijing based wholly-owned subsidiary, Zhongxing Chuangzhi (Beijing) Technology Ltd., Co. (中新创值（北京）科技有限公司)(“Zhongxing Chuangzhi”) that its partner Huaan Xingke ( Beijing ) Information Technology Co., Ltd (华安星科（北京）信息技术有限公司)(“Huaan Xingke”) has successfully obtained the type approval for their multi-mode satellite communication terminal, S600, from the Register of Fishing Vessel under the Ministry of Agriculture, Fisheries Bureau of the People’s Republic of China.
The terminal, a joint development between Addvalue and Huaan Xingke, is customized to meet the China governmental plan to modernize the fishing fleets and is the first-of-its kind to be certified by the China authorities for shipboard and offshore surveillance, navigation and safety operations.
Equipped with the integration of various technologies such as Automatic Identification System (AIS), Radio Frequency Identification (RFID), Beiduo system, and satellite communications, the multi-mode terminal will greatly elevate the operational capabilities for the China fishing fleets while providing very affordable services. The terminal is expected to be deployed in the province of Shandong, Liaoning and Guangdong after the fishing moratorium season in the respective provinces this year. The terminals will be produced in China with certain key modules worth about US$6 million to be supplied by Addvalue over three years with about US$1 million order to be fulfilled in financial year ending 31 March 2019.
Dr Colin Chan, Chairman and CEO of Addvalue remarked: “We are indeed very proud to have helped Huaan Xingke accomplish the type approval of the S600 terminal in which our satellite communication technology has played a significant role. We have commenced shipping the first batch of the key modules to Huaan Xingke and more will be shipped out in accordance with Huaan Xingke’s roll out plan. The success of this project is a testament that our transformation program is bearing fruits and the sales will contribute to our financial year ending 31 March 2019 and beyond.”
“As a leading company operating the China Beiduo navigation services inside China and the only company licensed for providing such services outside China, we are certain that S600 terminal will play a significant role to further grow our business in China and globally. We appreciate the technical support and guidance provided by Addvalue throughout the type approval process. This is a collaboration that epitomizes how a Singapore company and a China company can leverage each other’s strengths to grow together. And we look forward to more collaborations between the two companies in the future.” commented by Mr Su Guang Hua, Chairman of Huaan Xingke.
About Beidou Navigation Satellite System
The Beidou Navigation Satellite System (北斗卫星导航系统) is a Chinese satellite navigation system. It consists of two separate satellite constellations – a limited test system that has been operating since 2000, and a full-scale global navigation system that is currently under construction.
The first Beidou system, officially called the Beidou Satellite Navigation Experimental System (北斗卫星导航试验系统) and also known as Beidou-1, consists of three satellites and offers limited coverage and applications. It has been offering navigation services, mainly for customers in China and neighboring regions since 2000.
The second generation of the system, officially called the Beidou Navigation Satellite System (BDS) and also known as COMPASS or Beidou-2, will be a global satellite navigation system consisting of 35 satellites, and is under construction as of January 2015. It became operational in China in December 2011, with 10 satellites in use and began offering services to customers in the Asia-Pacific region in December 2012. It is planned to begin serving global customers upon its completion in 2020.
In 2015, China started the build-up of the third generation Beidou system (BDS-3) in the global coverage constellation. The first BDS-3 satellite was launched 30 March 2015. As of January 2018, nine BDS-3 satellites have been launched.
According to China Daily, fifteen years after the satellite system was launched, it is now generating a turnover of US$31.5 billion per annum for major companies such as China Aerospace Science and Industry Corp, AutoNavi Holdings Ltd, and China North Industries Group Corp.
Beidou has been described as a potential navigation satellite system to overtake GPS in global usage, and is expected to be more accurate than the GPS once it is fully completed. The current third generation of Beidou claims to reach millimeter-level accuracy (with post-processing), which is ten times more accurate than the finest level of GPS.
About Addvalue Technologies Ltd. (www.addvaluetech.com)
Addvalue Technologies Ltd (A31) a SGX Mainboard-listed company, is a leading one-stop digital, wireless and broadband communications technology products innovator, which provides state-of-the-art satellite-based communication terminals and solutions for a variety of voice and IP based data applications.
Addvalue is presently a leading global developer and supplier of mobile satellite terminals supporting coverage provided by premier mobile satellite communication system operators. These terminals are an ideal choice for communications in areas around the world where terrestrial networks are non-existent, or ineffective. This is particularly so for maritime communications, which rely almost entirely on satellite communications, where Addvalue’s marine communications terminals are well suited.
About Huaan Xingke (“华安星科” ) ( www.haxknet.com )
Huaan Xingke, registered and established in Beijing, China since April 2007, is a technology company which owns various patents and proprietary technology. Its main business is to develop, market and distribute products and services integrating the China Beiduo navigation and satellite communications and related electronics, optoelectronic products. Huaan Xingke also develops applications supporting Geographic Information System (GIS), remote sensing data processing for satellite mapping etc.
For Media and Investor Enquiries, please contact
Ms. Yee Ping, TAN
Senior Manager, Corporate Affairs and Communications
Addvalue Technologies Ltd.
Tel: (65) 6509 5705