中国卫星(600118) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥330,692,031.09, representing a decrease of 75.27% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥21,336,209.99, a decline of 142.81% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥24,284,213.94, down 151.87% from the previous year[3]. - The basic and diluted earnings per share were both -¥0.02, reflecting a decrease of 150.00% compared to the same period last year[3]. - Net profit for Q1 2024 was a loss of ¥23,041,979.46, compared to a profit of ¥66,130,138.81 in Q1 2023, indicating a substantial decline in profitability[15]. - The total equity attributable to shareholders was ¥6,319,120,236.98 in Q1 2024, slightly down from ¥6,336,636,313.02 in Q1 2023[14]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥296,315,736.44, an increase of 46.51% year-on-year[3]. - The company’s cash and cash equivalents decreased significantly, impacting liquidity and operational flexibility[14]. - In Q1 2024, the cash inflow from operating activities was CNY 327,254,592.91, compared to CNY 301,073,001.07 in Q1 2023, representing an increase of approximately 8.3%[16]. - The net cash flow from operating activities was -CNY 296,315,736.44, an improvement from -CNY 553,924,326.95 in the same period last year[16]. - The ending cash and cash equivalents balance was CNY 2,068,894,888.40, down from CNY 3,364,318,829.82 in Q1 2023, a decline of about 38.3%[16]. - Total cash outflow from operating activities was CNY 623,570,329.35, compared to CNY 854,997,328.02 in the previous year, indicating a decrease of approximately 27%[16]. Assets and Liabilities - Total assets at the end of the reporting period were ¥13,520,620,613.67, a slight increase of 0.10% from the end of the previous year[4]. - Total liabilities increased to ¥5,346,726,608.58 in Q1 2024 from ¥5,315,208,147.05 in Q1 2023, indicating a rise in financial obligations[14]. - The company reported a decrease in long-term equity investments to RMB 264,376,452.81 from RMB 265,800,504.51, a decline of about 0.5%[13]. - The company’s total current assets reached RMB 10,001,545,653.08, an increase from RMB 9,920,334,702.27, indicating a growth of approximately 0.8%[13]. - The company’s non-current assets totaled RMB 3,519,074,960.59, down from RMB 3,587,206,089.67, reflecting a decrease of about 1.9%[13]. Operational Challenges - The company experienced a significant decline in orders due to market competition and delays in user demand planning[6]. - Total operating costs for Q1 2024 were ¥357,612,947.15, up from ¥1,272,760,115.78 in Q1 2023, reflecting a significant increase in costs[15]. - The company experienced a significant increase in accounts payable, totaling ¥2,976,910,465.30 in Q1 2024, compared to ¥2,993,935,443.97 in Q1 2023[14]. Investments and Acquisitions - The company has agreed to acquire a 35% stake in Titanium Technology, becoming its controlling shareholder, with the transaction currently undergoing approval processes[11]. - The company completed the transfer of a 40% stake in Dalian Aerospace Beidou Technology Co., Ltd., receiving all transfer payments[11]. Government Support - Government subsidies recognized in the current period amounted to ¥5,557,818.89, contributing positively to the financial results[5].