China Spacesat(SH:600118)2015-04-21 16:00Financial Performance - Operating revenue for the first quarter was ¥848,427,415.07, a decrease of 3.12% year-on-year[9]. - Net profit attributable to shareholders was ¥60,795,957.22, representing an increase of 18.15% compared to the same period last year[9]. - Basic earnings per share rose to ¥0.05, an increase of ¥0.01 compared to the previous year[9]. - Total operating revenue for Q1 2015 was CNY 848,427,415.07, a decrease of 3.7% compared to CNY 875,745,993.14 in the same period last year[41]. - Net profit for Q1 2015 increased to CNY 60,675,775.73, up 15.5% from CNY 52,723,320.50 year-on-year[41]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥301,727,482.02, an improvement of 26.22% compared to the previous year[9]. - The company reported a decrease in cash flow from operating activities, but the decline was less severe than in the previous year[9]. - The net cash flow from operating activities for Q1 2015 was -12,281,748.71 RMB, compared to -4,200,656.36 RMB in the same period last year, indicating a decline in operational performance[49]. - The total cash outflow from operating activities was 18,732,029.18 RMB, slightly lower than 20,487,431.92 RMB in the same quarter last year[49]. - The company experienced a net decrease in cash and cash equivalents of -170,898,445.75 RMB in Q1 2015, compared to -35,018,261.17 RMB in the same period last year[49]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥9,170,825,075.63, an increase of 4.49% compared to the end of the previous year[9]. - Total liabilities rose to CNY 4,087,666,705.24 from CNY 3,827,928,109.91, indicating an increase of approximately 6.8%[35]. - The company's total equity reached CNY 5,083,158,370.39, compared to CNY 4,948,539,801.70 at the beginning of the year, marking an increase of about 2.7%[35]. - Accounts receivable increased by 21.88% to RMB 2.91 billion, indicating a rise in credit sales[15]. - Inventory levels increased to CNY 679,783,016.98 from CNY 571,110,703.48, reflecting a rise of approximately 19.0%[33]. Investments and Expenditures - The company reported an increase in development expenditures by 121.01%, totaling RMB 130.73 million, driven by investments in aerospace technology applications[15][18]. - The company completed a capital increase of RMB 200 million to its subsidiary, Aerospace Star Technology, for the satellite application system integration platform project[23]. - The company incurred a significant investment payment of 210,200,000.00 RMB in Q1 2015, compared to 47,100,000.00 RMB in Q1 2014, indicating aggressive investment strategies[49]. Shareholder Information - The total number of shareholders at the end of the reporting period was 81,094[13]. - The largest shareholder, China Aerospace Science and Technology Corporation, held 51.71% of the shares[13]. Regulatory Commitments - The company guarantees that it will not engage in the development and application of small satellites under 1000 kg using proprietary technology from CAST968, ensuring no competition with Aerospace Dongfanghong Satellite Co., Ltd. from October 17, 2002, onwards[27]. - The company has committed to avoiding any new competitive situations with China Satellite as a result of asset acquisitions, effective from June 18, 2007, with a long-term validity[27]. - The company will notify China Satellite in writing of any business opportunities that may compete with China Satellite and will provide these opportunities on terms no less favorable than those offered to any independent third party[28]. - The company has established that any violations of commitments causing losses to China Satellite will result in compensation obligations[28]. - The commitments will remain effective until certain conditions are met, including the company's equity in China Satellite falling below 30%[28].