China Aerospace International Holdings
Corporate brand
UnclaimedChina Aerospace International Holdings is a Hong Kong-incorporated, publicly listed holding company controlled by China Aerospace Science and Technology Corporation, with interests in technology manufacturing, aerospace-related investment, and property.
Last updated October 14, 2026
Overview
China Aerospace International Holdings Limited, commonly abbreviated as CASIL, is a Hong Kong-incorporated holding company associated with China Aerospace Science and Technology Corporation (CASC), the state-owned Chinese aerospace group. The company is listed on the Stock Exchange of Hong Kong and is generally described as a red-chip company, although it is not included in the exchange's Red Chip Index. Its business profile has changed substantially over time, moving from the manufacture and distribution of consumer electronics and plastic components to a more diversified portfolio of high-technology manufacturing, aerospace-related investments, and property activities. The company was incorporated in British Hong Kong on 25 July 1975 under the name Conic Investment Company Limited. It served as the listed holding vehicle for part of the broader Conic Group, an electronics and manufacturing group whose businesses included television and audio equipment, electronic components, plastics, precision manufacturing, and related activities. The wider group also had interests in film production, music publishing, television-studio operations, and video distribution, although not all of those businesses were held by the listed company. Conic-branded products, including Contec electronics, were sold in Hong Kong and other markets. During the late 1970s and early 1980s, Conic Investment expanded its manufacturing base. It established or participated in operations in Hong Kong and mainland China, including a repair facility in Fuzhou for Conic and Contec products, and planned a cathode-ray-tube television factory at Tai Po Industrial Estate. The company became publicly listed in Hong Kong on 25 August 1981. In 1983 it acquired Conic Investment Building from Cheung Kong Holdings and acquired Conic Semiconductor from the unlisted portion of the wider Conic Group. Conic Semiconductor was described at the time as a major Hong Kong producer of liquid-crystal display panels. The company encountered a major governance and financial crisis in the mid-1980s. China Resources, through Sin King Enterprises, and the Bank of China Group became controlling shareholders following a 1984 share subscription and share purchase. Several existing directors left and were replaced by nominees of the new controlling interests. Investigations and press reports subsequently described alleged false accounting and unauthorized withdrawals of company funds; several former directors and managers were arrested. The company also recorded a substantial net loss for the 1986 financial year. An attempted privatization and delisting in 1987 was abandoned. In 1993, China Aerospace Science and Technology Corporation acquired control of Conic Investment in a backdoor-listing transaction. The English corporate name remained substantially unchanged, while the company adopted its current Chinese name in 2008. Under CASC control, the group increasingly redirected manufacturing toward mainland China and repositioned itself as a technology and investment conglomerate. Its historical portfolio included an interest in APT Satellite International through CASIL Satellite, linking it to the Apstar satellite business. CASIL Satellite was sold to CASC in 2011. The company has also participated in development and investment projects connected with China's aerospace infrastructure. Through Hainan Aerospace Investment Management, it was involved in plans for a complex associated with the Wenchang Spacecraft Launch Site. That joint venture withdrew from the development in 2016, after which reports indicated that the site might instead be developed as a theme park. The group has additionally maintained property interests, including the former Conic Investment Building, which it sold in 2005. CASIL's history therefore spans Hong Kong consumer-electronics manufacturing, corporate restructuring and financial controversy, state-enterprise control, satellite-related investment, aerospace-lin…
History
China Aerospace International Holdings originated as Conic Investment Company Limited, incorporated in British Hong Kong on 25 July 1975. The listed company was established as a holding vehicle for part of the broader Conic Group, an electronics and manufacturing organization whose associated companies produced televisions, audio equipment, electronic parts, plastics, precision components, and other consumer products. The wider group also included entertainment and media businesses, but these were not all placed within the listed entity. Conic expanded during Hong Kong's industrial period and developed connections with mainland China soon after the beginning of economic reform and opening. A Sino-foreign joint-venture repair facility for Conic and Contec products opened in Fuzhou in 1980. The same year, Conic Investment agreed to lease land at Tai Po Industrial Estate for a cathode-ray-tube television factory. The company listed on the Stock Exchange of Hong Kong on 25 August 1981. In 1983, Conic Investment acquired Conic Investment Building from Cheung Kong Holdings through a combination of cash and newly issued shares. The building became the company's headquarters. In February 1983, it also acquired Conic Semiconductor from the unlisted portion of the broader Conic organization. The semiconductor subsidiary was characterized in contemporary company descriptions as Hong Kong's largest liquid-crystal-display-panel producer. The group suffered a major corporate crisis in the mid-1980s. Alex Au, then chairman and principal shareholder, arranged for China Resources, through Sin King Enterprises, to subscribe for new shares and purchase shares from him. Together with the Bank of China Group, the new interests became controlling shareholders in 1984. Au and several other directors subsequently resigned and were replaced by nominees of the incoming shareholders. A related scandal involved allegations of false accounting and illegal withdrawals of company funds. Two former directors and seven managers were arrested, while press reports also stated that Au had left for Taiwan. The company later disclosed a heavy net loss for 1986. A proposed privatization and delisting in 1987 was abandoned. In 1993, China Aerospace Science and Technology Corporation acquired Conic Investment as part of a backdoor-listing transaction. The English corporate name continued to be used, but the company's Chinese name was changed to its present form in 2008. Following the acquisition, the company shifted toward a technology, aerospace-investment, and property-oriented conglomerate. Many manufacturing activities migrated from Hong Kong to mainland China as the region's industrial structure changed. Corporate-governance questions continued to appear in the company's history. In 2000, the Stock Exchange of Hong Kong publicly criticized four former directors for inadequate disclosure of related-party transactions involving CASIL, CASC, XCOM Multimedia Communications, and the CXSAT satellite-receiver joint venture. In 2005, CASIL sold the former Conic Investment Building in Hung Hom to a subsidiary of Cheung Kong Holdings. CASIL also held an interest in APT Satellite International through CASIL Satellite. APT Satellite was associated with the Apstar satellite system and the listed APT Satellite Holdings group. CASIL Satellite was sold to CASC in 2011. The company later participated through Hainan Aerospace Investment Management in plans to develop a complex connected with the Wenchang Spacecraft Launch Site. That venture withdrew from the project in 2016, and the proposed site was subsequently discussed in connection with possible theme-park development. In 2014, Li Guolei, a director of China Aerospace Industrial Limited, a CASIL subsidiary, died after falling from China Aerospace Centre in Kwun Tong. His wife stated that he had been investigated for alleged corruption by mainland authorities. This event remains part of the company's documented governance history, although the available reference material does not establish a complete account of the investigation. CASIL's historical development reflects the transformation of a Hong Kong electronics group into a state-controlled, aerospace-affiliated investment company. Its documented activities include consumer electronics, electronic and plastic components, semiconductor and display manufacturing, satellite-related investment, aerospace-linked property development, and real-estate holdings. A complete current operational description and current executive roster are not established by the supplied sources.
- 2016
Withdrawal from Wenchang development
[1]Hainan Aerospace Investment Management withdrew from development of a complex associated with the Wenchang Spacecraft Launch Site.
- 2011
Satellite subsidiary transferred to CASC
[1]CASIL Satellite, which held an interest in APT Satellite International, was sold to the parent group.
- 2008
Chinese name changed to current form
[1]The company adopted its current Chinese name while retaining the established English name.
- 1993
CASC acquired the company
[1]China Aerospace Science and Technology Corporation acquired Conic Investment through a backdoor-listing transaction.
- 1984
Change in control and governance crisis
[1]China Resources and the Bank of China Group became controlling shareholders after a share subscription and purchase, followed by director changes and an investigation into alleged financial misconduct.
- 1983
Acquisitions of headquarters and semiconductor business
[1]The company acquired Conic Investment Building and purchased Conic Semiconductor from the unlisted part of the wider group.
- 1981
Hong Kong listing
[1]Conic Investment became listed on the Stock Exchange of Hong Kong on 25 August.
- 1980
Expansion into manufacturing and mainland China
[1]The group opened a Fuzhou repair joint venture and pursued a cathode-ray-tube television factory at Tai Po Industrial Estate.
- 1975
Conic Investment was incorporated
[1]Conic Investment Company Limited was incorporated in British Hong Kong on 25 July.
Products and positioning
A Hong Kong-listed, state-controlled technology and investment holding company within the broader China Aerospace Science and Technology Corporation group.
Consumer electronics
Conic and Contec electronics
The historical Conic Group manufactured and sold consumer-electronics products under the Conic and Contec brands. Its activities included television, audio, and related electronic equipment, supported by manufacturing and repair operations in Hong Kong and mainland China. These products represent the company's earlier industrial identity rather than a clearly documented current product line.
Industrial manufacturing
Electronic and plastic components
Associated Conic businesses produced electronic parts, plastic components, and precision-manufactured items for the group's consumer-electronics activities and other industrial customers. The portfolio included subsidiaries involved in precision works, electronics, plastics, and semiconductor-related production.
Display technology
Liquid-crystal display panels
Conic Semiconductor was acquired by the listed company in 1983 and was described in company-related accounts as a major Hong Kong producer of liquid-crystal display panels. The business formed part of the group's move from finished consumer electronics into higher-value electronic components.
Aerospace investment
Satellite investment interests
Through CASIL Satellite, the company held a minority interest in APT Satellite International, a business associated with the Apstar satellite system and APT Satellite Holdings. The subsidiary was transferred to CASC in 2011, so this is a historical investment rather than a confirmed current offering.
Real estate
Property investments
Property investment has been identified as one component of CASIL's diversified post-acquisition business. A documented example is Conic Investment Building, which served as headquarters before being sold in 2005.
Controversies
2014
Death of subsidiary director during reported corruption investigation
Li Guolei, a director of China Aerospace Industrial Limited, died after jumping from a building in Kwun Tong. His wife said he was under investigation for alleged corruption by mainland Chinese authorities; the supplied source does not establish the outcome of that investigation.
2000
Stock Exchange criticism over related-party disclosures
The Stock Exchange of Hong Kong publicly criticized four former directors for failing to properly disclose related-party transactions involving CASIL, CASC, XCOM Multimedia Communications, and the CXSAT joint venture.
1984
Conic Investment accounting and fund-withdrawal scandal
A scandal involving alleged false accounting and unauthorized withdrawals of company funds emerged after the 1984 change in control. Former directors and managers were arrested, while the company's former chairman was reported to have left Hong Kong. The supplied reference does not provide a final legal disposition for every allegation.
Brand decisions
2016
Withdrawal from Wenchang launch-site complex developmentStrategyBackground
Hainan Aerospace Investment Management had participated in plans to develop a complex associated with the Wenchang Spacecraft Launch Site.
Action taken
The joint venture withdrew from the development project.
Aftermath
Reports indicated that the site might instead be developed as a theme park, although the supplied material does not establish the final outcome.
2011
Transfer of CASIL Satellite to CASCM&ABackground
CASIL Satellite held a 14.29% interest in APT Satellite International, associated with the Apstar satellite business.
Action taken
CASIL sold CASIL Satellite to its parent group, China Aerospace Science and Technology Corporation.
Aftermath
The satellite investment was consolidated within the CASC group rather than remaining in the listed subsidiary.
Sale consideration. HK$132.3 million (2011)
2005
Sale of former headquartersStrategyBackground
Conic Investment Building had served as the company's headquarters since its acquisition in 1983.
Action taken
CASIL sold the Hung Hom property to Global Coin Limited, a subsidiary of Cheung Kong Holdings.
Aftermath
The transaction removed the former Conic headquarters from the company's property portfolio.
Sale consideration. HK$330 million (2005)
1993
CASC acquisition and backdoor listingM&ABackground
Conic Investment had evolved from an electronics-focused Hong Kong holding company amid earlier financial and governance problems.
Action taken
China Aerospace Science and Technology Corporation acquired control through a backdoor-listing transaction and redirected the company toward aerospace-related technology and investment activities.
Aftermath
The company became an affiliated listed vehicle of China's state-owned aerospace group and gradually moved manufacturing and investment activity toward mainland China.
Recent events
- 2016
Hainan aerospace development venture withdrew from Wenchang project[1]
Other
Hainan Aerospace Investment Management withdrew from development of a complex associated with the Wenchang Spacecraft Launch Site.
- 2011
CASIL Satellite was sold to CASC[1]
M&A
The subsidiary holding CASIL's interest in APT Satellite International was sold to the parent group.
- 2005
Former Conic Investment Building was sold[1]
Other
The company sold its former headquarters in Hung Hom to Global Coin, a subsidiary of Cheung Kong Holdings.
- 1993
CASC acquired Conic Investment through a backdoor listing[1]
M&A
China Aerospace Science and Technology Corporation took control of Conic Investment, beginning the company's transition into an aerospace-affiliated technology and investment holding company.
- 1987
Privatization and delisting proposal was abandoned[1]
Other
An attempt by the controlling interests to privatize and delist Conic Investment did not proceed.
- 1984
China Resources and Bank of China Group became controlling shareholders of Conic Investment[1]
M&A · Leadership change
China Resources, through Sin King Enterprises, subscribed for new shares and acquired additional shares from Alex Au, resulting in control of the listed company together with the Bank of China Group.
Sources1 sources
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