PIESAT(SH:688066)2025-01-24 10:15Financial Performance - The company expects a net profit attributable to shareholders of the parent company for 2024 to be between -1,443 million and -1,357 million CNY, representing an increase in losses of 98.28 million to 106.88 million CNY compared to the previous year, a year-on-year increase of 262.63% to 285.62%[3] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 is between -1,499 million and -1,413 million CNY, with an increase in losses of 95.92 million to 104.52 million CNY compared to the previous year, a year-on-year increase of 211.40% to 230.35%[3] - Interest expenses increased slightly due to a rise in total financing in 2023, contributing to a year-on-year increase in financial expenses for 2024[7] Cash Flow and Operating Activities - The expected net cash flow from operating activities for 2024 is between -220 million and -180 million CNY, showing significant improvement compared to the previous year's -869.80 million CNY[3] - Credit impairment losses increased due to prolonged accounts receivable collection periods, with the company actively communicating with local government clients to improve cash collection[7] Orders and Market Activity - The company experienced an approximately 18% decline in new orders compared to the same period last year, with government orders remaining stable and traditional government information projects decreasing[6] - The company was suspended from participating in bidding for special fields for six months, leading to a significant decrease in new orders in that sector[6] Strategic Focus - The company plans to focus on its core business and increase revenue from satellite constellation data services, aiming for significant loss reduction in 2025[7]