As a high-tech enterprise specializing in the 'one network, one screen' business, Tatwah Smartech (stock code: 002512) mainly operates in the satellite internet and internet TV industries. It is committed to promoting the development of information and communication technology through high-throughput satellites and 5G integrated communication technology. In 2023, Tatwah Smartech continued to show strong development momentum in its core business, but also faced some financial challenges.
In terms of asset and liability, Tatwah Smartech's total assets decreased from CNY 4.862 billion in 2022 to CNY 4.419 billion in 2023, indicating a reduction in the company's asset scale. The total liabilities also decreased from CNY 3.376 billion to CNY 3.269 billion, reflecting some degree of success in reducing the liabilities. The asset-liability ratio rose from 69.44% to 73.98%, which indicates an increase in the company's financial leverage compared to the previous year, despite a decrease in total liabilities, due to the decrease in total assets.
In terms of profit data, Tatwah Smartech's operating income in 2023 was CNY 1.967 billion, an increase of 12.86% from CNY 1.742 billion in 2022, indicating an improvement in the company's sales performance. However, the net income attributable to shareholders of the listed company was -CNY 296 million, an improvement from -CNY 327 million in the previous year, with a reduction in losses of 9.39%, indicating that the company still faces challenges in profitability despite the increase in operating income.
Cash flow data shows that the net cash flow from operating activities was -CNY 528 million, a significant deterioration from CNY 122 million in the same period last year, mainly due to the increase in prepayments received for large-scale integrated projects and payments and material expenses in the current year.
In summary, although Tatwah Smartech achieved growth in operating income in 2023, its net income and cash flow still face challenges. The increase in the asset-liability ratio also indicates an increase in the company's financial risk. Looking to the future, Tatwah Smartech needs to further optimize its business structure, improve profitability and cash flow management, in order to achieve sustainable and healthy development.