China Aerospace International Holdings facts for kids
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Trade name
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CASIL | ||||||||||
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Formerly
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Conic Investment Co., Ltd. | ||||||||||
| public company | |||||||||||
| Traded as | SEHK: 31 | ||||||||||
| Industry |
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| Predecessor | Chee Yuen Industrial | ||||||||||
| Founded | 25 July 1975 | ||||||||||
| Founder | Alex Au | ||||||||||
| Headquarters | Hung Hom,
Kowloon
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Hong Kong
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Key people
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| Products |
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| Brands | Contec (discontinued) | ||||||||||
| Revenue |  HK$3.088 billion (2016) |
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 HK$796 million (2016) |
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| Total assets | HK$12.785 billion (2016) |
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| Total equity | HK$6.190 billion (2016) |
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| Parent | China Aerospace Science and Technology Corporation | ||||||||||
| Chinese name | |||||||||||
| Traditional Chinese | 中國航天國際控股有限公司 | ||||||||||
| Simplified Chinese | 中国航天国际控股有限公司 | ||||||||||
| Literal meaning | China Aerospace International Holdings Limited Company | ||||||||||
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| Chinese short name | |||||||||||
| Traditional Chinese | 航天控股 | ||||||||||
| Simplified Chinese | 航天控股 | ||||||||||
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| former Chinese name | |||||||||||
| Traditional Chinese | 康力投資 | ||||||||||
| Simplified Chinese | 康力投资 | ||||||||||
| Literal meaning | Conic Investment | ||||||||||
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| Footnotes / references in consolidated financial statement |
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China Aerospace International Holdings Limited (often called CASIL) is a company based in Hong Kong. It is part of a larger group called China Aerospace Science and Technology Corporation. CASIL is also listed on the Stock Exchange of Hong Kong, which means its shares can be bought and sold by the public.
This company used to make electronic products and their plastic parts. After it was bought by the state-owned China Aerospace Science and Technology Corporation, it became a "conglomerate." This means it's a big company involved in many different businesses. Today, CASIL focuses on making high-tech products and investing in properties.
Contents
Company History
Early Days as Conic Investment
CASIL was first known as Conic Investment Co., Ltd. It started on July 25, 1975, in British Hong Kong. Conic Investment was the main company for a group of businesses called Conic Group. This group included many companies that made electronics and plastic parts. Some of these were Cony Electronic Products, Chee Yuen Industrial Company, and Far East United Electronics. The Conic Group also owned a brand called Contec.
The larger Conic Group also had a company that made movies, called Conic Film Productions Limited. They even had a music department that released albums for famous singers like Sam Hui, Michael Kwan, and Paula Tsui. This music part was run by Contec Sound Media Limited. The Conic Group also had a TV studio, which is now known as Centro TV.
By 1980, Conic Investment was one of the biggest electronics makers in Hong Kong. In November 1980, the company signed a deal to build a factory for old-style CRT televisions in Tai Po Industrial Estate. Conic Investment also started investing in mainland China. They opened a factory in Fuzhou in April 1980 to repair Conic and Contec products.
Conic Investment became a public company on the Hong Kong stock exchange on August 25, 1981. This meant people could buy shares in the company. Some parts of the original Conic Group remained private, under another company called Honic Holdings.
In 1983, Conic Investment bought a building called Conic Investment Building. This building became the company's main office. They also bought Conic Semiconductor, which made liquid-crystal display (LCD) panels.
Changes in Ownership
In 1984, Alex Au, who was the chairman and main owner of Conic Investment, invited a Chinese state-owned enterprise (SOE) called China Resources to invest in the company. China Resources and Bank of China Group became the main owners of Conic Investment in 1984. After this, Alex Au and other directors left the company. New directors chosen by the new owners took over.
Under its new owners, Conic Investment started to focus more on business in mainland China.
Becoming China Aerospace International Holdings
In 1993, another state-owned company, China Aerospace Science and Technology Corporation (CASC), bought Conic Investment. This was a way for CASC to become a public company quickly, known as a "backdoor listing." Conic Investment then changed its name to China Aerospace International Holdings Limited. The English name has stayed the same since 1993.
Even though the company changed, some of the old Conic Investment businesses continued. However, many of the factories moved to mainland China as Hong Kong's economy changed.
In 2005, the company sold its old head office, the Conic Investment Building, for HK$330 million.
CASIL also used to own a part of APT Satellite International, which operates Apstar satellites. CASIL sold its shares in APT Satellite International to its parent company, CASC, in 2011.
CASIL had a joint project to develop a complex near the Wenchang Spacecraft Launch Site. However, the company left this project in 2016. Reports said the area might be turned into a theme park.
Company Businesses
CASIL is involved in different types of businesses. It makes high-tech products and also invests in properties.
Subsidiaries
A subsidiary is a company that is owned or controlled by another company. Here are some of CASIL's current and former subsidiaries:
- CASIL Semiconductor (used to be Conic Semiconductor)
- CASIL Electronic Products (used to be Cony Electronic Products)
- Chee Yuen Industrial Company
- Jeckson Electric Company
- Jeckson Electronics Company (used to be Far East United Electronics)
- Hong Yuen Electronics
Some former subsidiaries from the Conic era include:
- Bony Electronics
- Contec Electronics, Inc.
- Hop Cheong Plastic Manufactory
- Hung Nien Electronics
- Jecko Electronics
- Jeckwell Electronics
Joint Ventures
A joint venture is a business project that two or more companies work on together.
- Xiamen Overseas Chinese Electronic Company (50% owned by CASIL)
Who Owns CASIL?
As of December 31, 2016, the main owner of CASIL is China Aerospace Science and Technology Corporation. This is a large state-owned enterprise in China. It owns about 38.37% of CASIL's shares through other companies.
See also
- APT Satellite Holdings, a related company in Hong Kong
- China Energine, another related company in Hong Kong
