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The vehicle is the second entirely Varda-made vehicle and carries a government payload.

EL SEGUNDO, Calif., Nov. 28, 2025 /PRNewswire/ — Varda Space Industries announced today that their fifth mission, W-5, successfully launched from Vandenberg Space Force Base in Lompoc, California aboard the Transporter-15 rideshare mission with SpaceX.

W-5 is the company’s fifth launch overall, and fourth launch of 2025. The vehicle carries a government payload funded through the Prometheus program, a partnership between the Air Force Research Laboratory (AFRL) and commercial space entities. Prometheus is addressing a national security need to accelerate the ability to conduct novel science and technology experiments in the extreme reentry environment through a low-cost, high cadence flight testbed enabled by industry providers. Previous flights funded through Prometheus include Varda’s W-2 and W-3 missions.

Dual-use flights leveraging commercial entities like Varda provide the reentry test community with a novel, low-cost approach to iterative hypersonic science and technology experimentation. The unique aerothermal chemistry of the reentry environment is impossible to fully simulate or replicate on the ground, and flight testing is the best way to advance comprehensive understanding of the reentry environment.

Varda’s W-series hypersonic reentry capsule is the lowest cost, most rapid, recoverable option to reproduce the most challenging hypersonic and reentry flight environments. Varda’s capsule enters the atmosphere at 18,000 miles per hour and hits Mach 25+ on every mission before landing by parachute on Earth. 

“With W-5, AFRL and Varda again demonstrated that hypersonic flight testing can be done routinely and affordably,” said Brandi Sippel, Vice President of Mission Management at Varda Space Industries. “Each Prometheus mission helps expand access to the reentry environment, accelerating the science and engineering that define the future of hypersonic systems.”

The W-5 vehicle consists of three Varda-made components: the hypersonic reentry capsule, the satellite bus, which provides power, navigation and propulsion in orbit, and an ablative heatshield made of C-PICA. The entire W-series vehicle is produced at Varda’s El Segundo headquarters.

About Varda 

Varda Space Industries is building the infrastructure for a thriving orbital economy, from in-orbit pharmaceutical processing to reliable and economical hypersonic reentry capsules. The company operates out of El Segundo, California with office and industrial production space and has office space in Washington, D.C. and Huntsville, Alabama. Follow Varda on X (@vardaspace), Instagram (@vardaspaceindustries), and LinkedIn.

Alex Pearlman: [email protected]

SOURCE Varda Space Industries Inc.

Tencent Music Entertainment Group (NYSE:TME) shares have seen some movement recently, driven partly by shifts in investor risk appetite and changing market sentiment around Chinese technology stocks. Over the past month, TME has experienced a moderate decline, which highlights an evolving outlook for the sector.

See our latest analysis for Tencent Music Entertainment Group.

Despite some turbulence in the past month, Tencent Music Entertainment Group’s momentum over the longer term is hard to argue with. After a 21.5% slide in the 1-month share price, its year-to-date share price is still up an impressive 58.9% and the 3-year total shareholder return stands at a hefty 148.3%. Recent pricing shifts have more to do with evolving investor sentiment in the Chinese tech sector than with any fundamental weakness, and TME still commands positive attention from growth-focused investors.

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Given recent volatility and solid long-term returns, the key question is whether Tencent Music Entertainment Group’s current valuation offers true upside or if the market has already factored in all future growth potential.

Tencent Music Entertainment Group’s narrative-implied fair value stands well above its last close, outlining a case for significant upside based on forward-looking financial drivers and an evolving business model.

Proprietary content development, exclusive partnerships with Korean labels and Chinese artists, and investments in original artist incubation strengthen content differentiation, support premium pricing, and reduce long-term content costs. These factors contribute to higher gross margins and a defensible market share. Technology investments, including AI-powered personalization and innovative ad formats such as incentivized ads and ad-based membership models, are driving higher advertising revenue, improved operational efficiency, and lower customer acquisition costs. This is boosting both top-line growth and net profit margins.

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Result: Fair Value of $27.47 (UNDERVALUED)

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However, margin pressure from lower-profit segments and increased regulatory scrutiny could quickly challenge the positive outlook for Tencent Music Entertainment Group’s growth trajectory.

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A good starting point is our analysis highlighting 5 key rewards investors are optimistic about regarding Tencent Music Entertainment Group.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TME.

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