At <300km range, it would be unable to target even China’s high res close flying satellites which operate at 640-2200km above sea level.
Compared to the expertise behind systems like SC-19 that can target anything in low orbit where nearly all military satellites are, the difference is like day and night. And compared to the most updated ASAT weapons within PLA, the gap is even greater.
The decision to destroy a satellite that was at extremely low orbit, practically touching the atmosphere, is best explained as a move to increase domestic nationalism. Such a missile would not be useful in a real combat situation given that no satellites fly that close to earth. However, it could be a first step towards developing an usable ASAT weapon.