Article

Hong Kong Science and Technology Parks Corporation (HKSTP) reported HK$102 million overdue receivables as of March 2025. The situation arises as the government considers new funding for the space economy.

Disputes with the USPACE Technology Group over unpaid rent and management fees led to litigation, with HKSTP claiming HK$47.4 million. USPACE countersued for alleged contract breaches, seeking HK$7.687 billion in damages. The AMC, established to enhance manufacturing, saw no revenue from aerospace operations since 2022, with the company's board experiencing instability.