China Satellite (600118) 2019 Interim Report Performance Review: Small Satellite Manufacturing Leader Vertically Stabilizes Aerospace Industrialization and Accelerates Growth

China Satellite (600118) 2019 Interim Report Performance Review: Small Satellite Manufacturing Leader Vertically Stabilizes Aerospace Industrialization and Accelerates Growth

China Satellite achieved net profit in the first half of 20191.

$ 89 million is growing every year 5.

06% After August 22, China Satellite 无锡桑拿网 announced the 2019 Interim Report.

Report on core companies’ operating income 31.

USD 3.9 billion, a decrease of 2 from the same period last year.

24%; Net profit attributable to shareholders of listed companies.

8.9 billion yuan, an increase of 5 over the same period last year.

06%; achieving steady growth.

Small satellite manufacturing leader Vertical stable satellite application service continuous development The company focuses on the development and production of small satellites and micro satellites below 1,000 kilograms, product and business integration system development, system design, system integration and on-orbit services in one.

As a key subsidiary of Aerospace Science and Technology Corporation, the company has accumulated aerospace core technology and a large number of high-tech talent reserves, research and development strength, and has a “National Engineering Research Center for Small Satellites and Their Applications”, which is located in the field of small satellite manufacturing in China.

According to the report, the company ‘s Catcher One A / B star successfully completed its launch mission for the first time at sea with stable on-orbit operation and in good condition. Tianqin-1 and Ningxia-1 and other research models have been successfully advanced, with nearly a hundred in orbitThe satellite is operating steadily.

At the same time, the company continued to develop satellite application services, and completed the acceptance and delivery of 2 sets of international ground application systems represented by the Pakistan Retina Satellite Project; the light and small mobile receiving and processing stations completed the acceptance as planned; the construction of forestry ecological construction and the protection of Beidou demonstration application systemsMajor industry application projects were carried out as planned.

The company is expected to maintain steady development momentum.

Accelerating commercialization of China ‘s aerospace industry. Accelerating commercial satellite applications will catch up with the international level. China ‘s aerospace launch technology is mature, and China ‘s aerospace industry has a foundation for development.

China successfully completed 37 space launches in 2018, surpassing the United States and Russia for the first time in history, and has become the country with the largest number of annual space launches in the world.

According to the early announcement of the Aerospace Science and Technology Group plan, the number of space launches in 2019 will remain at more than 30, maintaining a high-frequency launch.

At the same time, in addition to the aerospace “national team”, China’s private space enterprises began to join the launch camp in 2019, which also marked the acceleration of China’s space industry application.

At present, the United States and Europe are far ahead in commercial satellite applications. Satellite data has been widely distributed in many fields such as mining, infrastructure, agriculture, fisheries, communications, and finance.

International technology giants such as Amazon have also proposed a large-scale satellite Internet plan. Amazon plans to form a “constellation” consisting of more than 3,000 satellites, most of which are small satellites.

At present, the global aerospace market is close to $ 200 billion, of which 75% is commercial demand.

In the process of Chinese commercial satellite applications catching 杭州桑拿网 up with the international level, the company will directly benefit as an industry leader.

The investment strategy has a huge space for the company’s imagination in the future, and it can still be in the medium and long-term layout.

The company’s expected earnings for 2019-2021 are expected to be 0.

40 yuan, 0.

46 yuan and 0.

53 yuan.

Give the company a “Buy” rating.

Risk Warning: The number of space launches is less than expected, and satellite application promotion is less than expected