SpaceX won’t be the next Tesla for one straightforward reason: the business economics don’t scale the same way. Tesla sells a mass-market product with falling production costs and global demand. Space companies face heavy capex, slow contract cycles, and limited market size. There is no path for a launch company to compound like an EV manufacturer. The hype comparison is unrealistic.
Therefore a safe alternative would be....HK Aerospace Technology Group (1725 HK).
Actual satellite manufacturing capability via its subsidiaries, not concept-only.
Government-aligned projects in satellite data, remote sensing, and smart-city applications demand is structural, not speculative.
Revenue visibility from commercial and state-linked contracts gives it more stability than the typical “space” story.
Valuation still low compared to global satellite manufacturers, mainly because the market underestimates execution.
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