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Unpleasant Surprises Could Be In Store For China Satellite Communications Co., Ltd.'s (SHSE:601698) Shares
When you see that almost half of the companies in the Media industry in China have price-to-sales ratios (or "P/S") below 2.1x, China Satellite Communications Co., Ltd. (SHSE:601698) looks to be
China Satellite Communications' performance forecast for the first half of 2024.
Express News | China Satellite Communications Says It Sees H1 Net Profit up About 54% Y/Y
China Satellite Communications (601698.SH): Net income for the first half of the year is expected to increase by about 54% compared to the same period last year.
Gelonghui, July 8, 丨 China Weitong (601698.SH) announced that according to preliminary estimates by the financial department, it is estimated that net profit attributable to shareholders of listed companies will be approximately 0.411 billion yuan in the first half year of 2024. Compared with the same period last year, it will increase by about 0.145 billion yuan, an increase of about 54% over the previous year. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss for the first half year of 2024 is expected to change little compared to the same period last year. The company reached an agreement with the insurance underwriter on the insurance compensation plan for the Zhongxing 6C satellite in June 2024 and signed a “Liability Cancellation Agreement”. The insurance claims are
China Satellite Communications (601698.SH): The insurance compensation for Zhongxing-6C satellite can be obtained from the insurance underwriter in the amount of 32.217 million US dollars.
On June 24th, Globe Newswire reports that China Satellite Communications (601698.SH) recently reached a consensus with their insurance underwriter on a compensation plan and signed a "liability release agreement". China Satellite Communications confirmed that it will receive an insurance claim payment of 32,217,422 US dollars from the insurance underwriter for the Zhongxing-6C satellite. The above-mentioned claim amount accounts for about 66% of the audited net income attributable to the parent company of the previous fiscal year. The insurance underwriter will pay the compensation funds according to the agreed-upon compensation payment schedule, and the company will carry out the corresponding accounting treatment in accordance with the "Enterprise Accounting Standards".
Investing in China Satellite Communications (SHSE:601698) Five Years Ago Would Have Delivered You a 271% Gain
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on a lighter note, a good company can see its share price rise well over
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