Investment Rating - The report assigns a rating of "Outperform" (previously "Buy") to the company [3]. Core Views - The company reported a revenue of 2.616 billion yuan in 2023, a year-over-year decrease of 4.3%, and a net profit of 349 million yuan, down 62.21% year-over-year [3]. - The decline in performance is attributed to demand fluctuations and intensified competition in overseas markets, impacting revenue [3]. - The company is actively expanding its overseas market and enhancing its satellite communication services, which are expected to drive future growth [3]. - The company has a stable cash flow with a cash balance of 3.606 billion yuan and a low debt ratio of 14.05% as of the end of 2023, indicating a solid financial position [3]. - The satellite internet business is anticipated to become a core growth driver as the user base expands, supported by the successful launch of the Zhongxing 26 satellite [3]. Summary by Relevant Sections Financial Performance - In 2023, the company achieved total revenue of 2.616 billion yuan, with a year-over-year growth rate of -4.3% [4]. - The net profit for 2023 was 349 million yuan, reflecting a significant decline of 62.21% compared to the previous year [4]. - The gross margin for 2023 was 35.71%, a decrease of 0.76 percentage points from 2022 [3][4]. Future Projections - The forecast for 2024 estimates a revenue increase to 2.882 billion yuan, with a projected net profit of 547 million yuan, indicating a recovery trend [4][5]. - The company anticipates a growth rate of 10.2% for 2024, followed by 13.4% in 2025 and 19.6% in 2026 [4]. Market Position - The company holds a strong position in the domestic satellite communication sector, benefiting from the acceleration of satellite internet applications [3]. - It has been recognized as a core enterprise in satellite communication operations, with 17 satellites in orbit and a growing user base in aviation and maritime sectors [3].

Financial Performance - In 2023, China Satellite Communications achieved a net profit attributable to shareholders of 348,770,555.15 yuan, with a total distributable profit of 2,798,476,182.64 yuan at year-end[6]. - The company's revenue for 2023 was approximately ¥2.62 billion, a decrease of 4.30% compared to ¥2.73 billion in 2022[23]. - Net profit attributable to shareholders decreased by 62.21% to approximately ¥348.77 million from ¥922.81 million in the previous year[23]. - Basic earnings per share fell by 63.87% to ¥0.0826 from ¥0.2286 in 2022[24]. - The weighted average return on equity decreased by 5.15 percentage points to 2.29% from 7.44% in the previous year[24]. - Cash flow from operating activities increased by 21.86% to approximately ¥1.79 billion compared to ¥1.47 billion in 2022[23]. - Total assets at the end of 2023 were approximately ¥22.66 billion, a slight increase of 0.97% from ¥22.44 billion in 2022[23]. - The net profit excluding non-recurring items decreased by 43.58% to approximately ¥269.11 million from ¥476.93 million in 2022[25]. - The company reported a quarterly revenue of ¥753.95 million in Q4 2023, showing a positive trend in the latter part of the year[26]. Dividend Distribution - The company plans to distribute a cash dividend of 0.248 yuan per 10 shares, totaling 104,764,758.22 yuan, based on a total share capital of 4,224,385,412 shares[6]. - The cash dividend represents 30.04% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which amounted to 348,770,555.15 RMB[135]. - The company distributed a cash dividend of 0.0436 RMB per share, totaling 184,183,203.96 RMB, based on a total share capital of 4,224,385,412 shares[132]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[9]. - The company has no non-operational fund occupation by controlling shareholders or related parties[8]. - There were no violations of decision-making procedures regarding external guarantees[8]. - The company has established a compliance management system and improved risk prevention measures, ensuring no safety incidents occurred throughout the year[41]. - The company faces market expansion risks due to increased competition and economic downturns, particularly in domestic and international markets[94]. Audit and Compliance - The financial report was audited by Zhongxinghua Accounting Firm, which issued a standard unqualified opinion[5]. - The company has maintained independence from its controlling shareholders, ensuring no asset encroachment or harm to minority shareholders' interests[101]. - The company has established a comprehensive internal control system that adapts to its development needs, ensuring the protection of shareholder interests[139]. - The company is focused on enhancing internal control effectiveness and compliance with financial reporting standards, which is crucial for maintaining shareholder trust[122]. Innovation and Development - The company launched the high-throughput satellite Zhongxing 26, which is the first domestic satellite with over 100 Gbps capacity, enhancing satellite internet coverage across the country and key areas along the Belt and Road[38]. - The company obtained 10 patents and 30 software copyrights in 2023, reflecting its commitment to innovation and technology development[35]. - The company is actively involved in the development of satellite internet and 6G technologies, aligning with national policies for digital infrastructure[45]. - The company is prioritizing the development of new products and technologies to enhance its competitive edge in the market[122]. Market Expansion - The company has made progress in international markets, expanding satellite communication services and adding value-added service packages[36]. - The company plans to enhance its satellite communication services, focusing on high-throughput satellite networks and expanding into public and private network integration[81]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[110]. - The company plans to invest 500 million yuan in new technology development over the next two years[110]. Corporate Governance - The company has a strong talent strategy, focusing on attracting graduates from top universities and experienced professionals to enhance its core talent pool[55]. - The company has established a salary system linked to labor market conditions and performance efficiency, focusing on rewarding high-contribution employees[129]. - The company has undergone several personnel changes, including the appointment of a new deputy general manager in August 2023[115]. - The company is committed to improving information disclosure quality and transparency, ensuring timely and accurate communication with stakeholders[100]. Environmental and Social Responsibility - The company invested approximately 0.6987 million yuan in environmental protection during the reporting period, primarily for the renovation of power equipment at the Beijing and Huailai earth stations[141]. - The company has initiated energy-saving and environmental renovation projects at the Beijing earth station, significantly reducing energy consumption[146]. - The company has committed to avoiding competition with its controlling shareholder and has measures in place to ensure compliance[156]. - The company actively participates in green procurement and promotes energy-saving practices among employees[144].

中国卫通集团股份有限公司 募集资金年度存放与实际使用情况 的鉴证报告 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 邮编：100073 电话：(010) 51423818 传真：(010) 51423816 目 录 一、鉴证报告 二、关于募集资金年度存放与实际使用情况的专项报告 中 兴 华 会 计 师 事 务 所 （ 特 殊 普 通 合 伙 ） Z H O N G X I N G H U A C E R T I F I E D P U B L I C A C C O U N T A N T S L L P 地址（ l o c a t i o n ）： 北 京 市 丰 台 区 丽 泽 路 2 0 号丽泽 S O H O B 座 2 0 层 20/F,Tower B,Lize SOHO,20 Lize Road,Fengtai District,Beijing PR China 电话（ tel ）： 0 1 0 - 5 1 4 2 3 8 1 8 传真（ fax ）： ...

THE THE 环境、社会 和治理报告 Environmental Social and Governance Report 2023 开启卫星互联网新时代 创造美好数字生活 目录 CONTENTS | 董事长致辞 | 02 | | --- | --- | | 公司简介 | 04 | | 发展战略 | 7 | | ESG管理 | 59 | | --- | --- | | 风险与机遇 | 61 | | 利益相关方沟通 | 62 | | 实质性议题分析 | - 64 | | | 1 | 01 以国为重 服务社会民生 | 支撑安全传输 | 09 | | --- | --- | | 推进普遍服务 | 12 | | 保障应急通信 | 14 | | 深耕海洋通信 | 18 | | 加速航空互联 | 20 | | 助力"一带一路" | 22 | 02 以新图强 赋能数字经济 | 构筑天地网络 | 27 | | --- | --- | | 赋能行业应用 | 36 | 03 以人为本 促进和谐共生 | 促进绿色运营 | 39 | | --- | --- | | 建设和谐家园 | 44 | | 重视员工发展 | 47 | 绩效报 ...

中国卫通集团股份有限公司 2023年度合并及母公司财务报表 审计报告书 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 邮编：100073 电话：(010) 51423818 传真：(010) 51423816 目 录 | 一、审计报告 | 1-4 | | --- | --- | | 二、审计报告附送 | | | 1. 合并资产负债表 | 1-2 | | 2. 合并利润表 | 3 | | 3. 合并现金流量表 | 4 | | 4. 合并股东权益变动表 | 5-6 | | 5. 母公司资产负债表 | 7-8 | | 6. 母公司利润表 | 9 | | 7. 母公司现金流量表 | 10 | | 8. 母公司股东权益变动表 | 11-12 | | 9. 财务报表附注 | 1-96 | 三、审计报告附件 1. 中兴华会计师事务所（特殊普通合伙）营业执照复印件 2. 中兴华会计师事务所（特殊普通合伙）执业证书复印件 3.中兴华会计师事务所(特殊普通合伙)证券、期货相关业务许可 ...

中国卫通集团股份有限公司 独立董事2023年度述职报告 （金野） 根据中华人民共和国《公司法》《证券法》《上市公司 独立董事管理办法》以及《中国卫通集团股份有限公司章程》 等相关制度，本人作为中国卫通集团股份有限公司（简称中 国卫通、公司）独立董事，自任职以来忠实、勤勉地独立履 行职责，积极参加公司董事会及各专门委员会会议，认真审 议各项议案，审慎、客观地发表独立意见，充分发挥自身专 业优势维护上市公司整体利益，保护中小股东合法权益。现 将履行职责情况报告如下： 一、独立董事的基本情况 本人于2023年8月召开的中国卫通2023年第三次临时股 东大会上被选举为第三届董事会独立董事。本人在信息通信 等领域积累了丰富的经验，能够在公司战略规划制定、业务 开展等方面发挥专业咨询作用。具体情况如下： （一）独立董事简历 金野，男，满族，1966年10月出生，硕士研究生学历。 现任中国卫通集团股份有限公司独立董事，北京大学信息科 学技术学院教授，博士生导师。 （二）任职资格说明 本人在选举的提名、备案过程中严格遵守《上市公司独 立董事管理办法》《上海证券交易所股票上市规则（2023年 1 8月修订）》《上海证券交易所上 ...

证券代码：601698 证券简称：中国卫通 公告编号：2024-011 中国卫通集团股份有限公司 关于开展外汇套期保值业务的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、交易情况概述 （一）交易目的 1 为有效规避和防范外汇市场风险，降低汇率波动对中国卫 通集团股份有限公司（以下简称"卫通公司"或"公司"） 主业经营业绩的影响，拟开展规模不超过 400 万美元的套 期保值业务（展期额度不重复计算），该额度自公司董事 会审议通过之日起一年内有效。预计业务峰值不超过人民 币 3,000 万元，保证金额度不超过人民币 500 万元；资金 来源为公司及子公司银行授信额度或自有资金；交易品种 为远期结售汇；交易场所为与公司不存在关联关系的境内 金融机构。 履行的审议程序：公司于 2024 年 3 月 29 日召开公司第三 届董事会第五次会议，审议通过了《中国卫通关于开展套 期保值业务防范汇率波动风险的议案》。 卫通公司全资子公司鑫诺卫星通信有限公司（以下简称 "鑫诺公司"）为提升核心竞争力，以建成国际国内知名 ...

中国卫通集团股份有限公司关于 2023 年度 募集资金存放与实际使用情况的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》及相关格式指引的规定，中国 卫通集团股份有限公司（以下简称"公司"或"本公司"）关 于 2023 年度募集资金存放与实际使用情况专项说明如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准中国卫通集团股 份有限公司非公开发行股票的批复》（证监许可〔2022〕870 号）核准，公司获准非公开发行普通股（A 股）不超过 400,000,000.00 股，每股发行价格为人民币 9.60 元。公司 实 际 发 行 224,385,412 股 ， 募 集 资 金 总 额 计 人 民 币 2,154,099,955.20 元，扣 除承销 费用（ 不含增 值税） 12,924,599.73 元后的募集资金 2,141,175,355.47 元已于 2022 年 9 ...

中国卫通集团股份有限公司关于 会计师事务所 2023 年度履职情况评估报告 中国卫通集团股份有限公司（以下简称"公司"）聘请中 兴华会计师事务所（特殊普通合伙）（以下简称"中兴华所"） 作为公司 2023 年度财务及内部控制审计机构。根据财政部、 国资委及证监会颁布的《国有企业、上市公司选聘会计师事 务所管理办法》，公司对中兴华所 2023 年审计过程中的履职 情况进行评估。经评估，公司认为中兴华所资质等方面合规 有效，履职保持独立性，勤勉尽责，公允表达意见，具体情 况如下： 一、资质条件 中兴华所成立于1993年，2000年由国家工商管理总局核 准，改制为"中兴华会计师事务所有限责任公司"。 2009年 吸收合并江苏富华会计师事务所，更名为"中兴华富华会计 师事务所有限责任公司"。2013年公司进行合伙制转制，转 制后的事务所名称为"中兴华会计师事务所（特殊普通合 伙）"。注册地址为北京市丰台区丽泽路20号院1号楼南楼20 层，首席合伙人为李尊农先生。 截至2023年12月31日止，中兴华所拥有合伙人189人、注 册会计师969人、签署过证券服务业务审计报告的注册会计 师 489人。 1 2022年度经审计 ...

中国卫通集团股份有限公司 关于计提 2023 年度资产减值准备的公告 证券代码：601698 证券简称：中国卫通 公告编号：2024-010 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国卫通集团股份有限公司（以下简称"公司"）于 2024 年 3 月 29 日召开第三届董事会第五次会议和第三届监事会 第三次会议，审议通过了《中国卫通关于计提 2023 年度资产 减值准备的议案》，本议案尚需提交 2023 年年度股东大会审 议。现将具体情况公告如下： 一、本次计提资产减值准备概况 （二）长期非流动资产计提资产减值准备情况 公司长期非流动资产中的其他非流动资产为公司可能 回购的联营公司数字传媒相关股权成本 865.66 万元，在资 产负债表日根据联营企业数字传媒经营情况，经济绩效已经 远低于预期，基于谨慎性原则，计提长期非流动资产减值准 备 865.66 万元。 根据《企业会计准则》及公司会计政策等相关规定，为 更真实、准确、客观地反映公司截至 2023 年 12 月 31 日的 资产状况及 2023 年度经营成果，基于谨 ...