Text: Xiao Peng's brilliant notes
Editor|Xiao Peng's brilliant notes
[Preface]
In BDStar's latest data for the first quarter of this year, net profit is still in the red, which has also caused heated discussions among the public.
As the first veteran enterprise of the mainland's satellite navigation system, its development and the development of Beidou satellites can be said to complement each other.
The development of BDStar's self-developed chips has greatly promoted the accuracy, speed and reliability of BDStar satellite positioning, and even achieved a lot of leadership for a time.
In the past 20 years of development, a small company with only 24 people has grown into an industry technology giant with a market value of 21 billion yuan with an irresistible trend.
Now the tech giant is no longer as glorious as it once was, but the announced loss figures are still surprising.
You must know that before, because of a wrong decision, BDStar lost ten years of profits within a year, and its development was also affected to a certain extent.
So what were the decisions that caused the company's losses, and how big was the impact?
【BDStar's brilliant achievements】
In 2011, China Youth Daily released a news article "Chinese Enterprises Tear Open the Monopoly of International Satellite Navigation", in which the eighth Beidou navigation satellite of the mainland was successfully launched.
The launch of this satellite has extraordinary significance in the history of the development of the field of continental satellite navigation, and the positioning accuracy provided by this satellite has reached 10 meters, which can basically meet the basic navigation and positioning services at that time.
At that time, the United States GPS had always been used in the field of civil navigation in mainland China, and in the field of international navigation, Galileo, GLONASS, and GPS stood on three legs.
The launch of the mainland satellite also means that this pattern has been broken, and the monopoly of GPS in this field has also been completely broken.
Recalling the "sanctions" received in the past because it did not have its own satellite navigation system, the achievement of this achievement can be said to be nothing but eyebrows.
Behind this achievement, it has to be mentioned that BDStar, which was created in 2000 at the same time as the launch of the mainland's first Beidou satellite, a professional company engaged in navigation and positioning services.
In the following ten years of development, BDStar has been promoting the application of BDStar as its mission, and has continuously carried out technological innovation, and as the "first share" of China's satellite navigation system, this company has also become the focus of the industry.
In the past ten years, BDStar has continued to expand its business, and in addition to the main navigation system, it also has corresponding technical cooperation and support with the research institute of BDStar.
After the successful networking of the Beidou-2 satellite, the navigation and positioning accuracy of this company's products has been further improved, and then it continues to be used in marine fisheries.
After the completion of the BDS-3 global satellite navigation system, BDStar has also started further independent research and development, and has gradually been widely used in the field of shared bicycles and dam settlement detection.
Since then, BDStar has been committed to installing a Chinese core for the mainland's navigation system, and with the efforts of its internal R&D personnel, the mainland's independent research and development of positioning chips in this field with different nano precisions was born.
To a large extent, the realization of this achievement has also changed the status quo of dependence on imports of core components in satellite navigation related fields at that time, and on this basis, it has gradually become a world-class product.
In 2020, the Beidou global system was completed, and the mainland also formed a complete satellite navigation and location service industry with an output value of more than 345 billion yuan in this field.
A "Beidou" was established, with the mission of promoting the application of Beidou, and gradually rose and stood tall with the Beidou satellite, the development history of this enterprise to a certain extent, but also the epitome of the development of the mainland satellite navigation system.
[Lose ten years of hard-earned money in one year]
But it is such a company that has made brilliant achievements, and BDStar, which has the concept of chips and military industry, has lost 10 years of profits in 1 year.
In 2014, the company entered a relatively large-scale development stage, and formulated its industrialization strategy on the basis of the construction of the Beidou navigation system.
So since 2015, BDStar has begun to carry out a series of industrial mergers and acquisitions around "Beidou +", and the first acquisition is Huaxin Antenna and Jiaxing Jiali.
Later, through acquisitions, it has established the core advantages of its own basic products, mainly chips, boards and antennas in the upstream, hardware products and testing services in the downstream, and dual-line parallel business at home and abroad.
In parallel with the acquisition is the goodwill of BDStar, in 2018, because of the acquisition, the book goodwill value of this enterprise has reached 1.52 billion yuan.
Later, in 2019, the economy was in a downturn, and in the company's 2019 financial report, its operating income in the first three quarters was 1.993 billion yuan, which was a certain decline compared with the same period last year.
Between the development of the previous ten years, the cumulative net profit of Beidou Xingtong in the past ten years was 564 million yuan, but according to the announcement, its net profit in 2019 fell by as much as 94.68%.
Almost fell by 550 million yuan to 650 million yuan, this year's loss, almost consumed the net profit accumulated in the past 10 years, everyone was surprised, there are remarks that it is its large-scale acquisition plan, so that the goodwill value at the peak, inevitably ushered in a decline.
In the company's latest quarterly data, BDStar's revenue in the first quarter of this year was 280 million yuan, and the net profit loss value was 46.2537 million yuan.
[One of the first figures who actively advocated Beidou for civilian use]
In fact, at the very beginning of the establishment of Beidou, it was only a military system and was not open to the outside world, and Zhou Ruxin, who founded the core figure of Beidou Starcom, was one of the first people who advocated Beidou for civilian use in the early days.
He has always had a clear heart to serve the country, and when he was discharged from the army, when the Beidou project began, he went abroad as a delegation to learn experience.
After the final visit to the headquarters of Qualcomm in the United States, he saw the huge development space of satellite navigation in the civilian field from the company's system.
So after coming back, he began to actively advocate that Beidou move in the direction of civilianism, and finally, with the support of the country, BDStar, which has only 24 people, began to participate in the construction of the Beidou-1 information service system.
Zhou Ruxin also earned the first pot of gold in his life, as we mentioned earlier, the first application of the company's products is fishery.
The wide application of the fishery and the benefits it brings have further opened the valve of the Beidou civil wave, and then the Beidou system has been gradually applied to many fields such as ports and disaster prevention under the promotion of BDStar.
Whether it is in the development of various fields, or in the development of Beidou itself, it plays an important role, and the company actually acted as an agent in the early days.
However, in the later development, Zhou Ruxin realized that the re-innovation after the introduction, digestion and absorption of the data will not go far after all.
In the early stage of development, because of backward technology, it could only import foreign chips to meet the needs of domestic development, but if you want to become a strong country with Beidou, Zhou Ruxin feels that independent innovation is still needed.
So he began to look for technicians all over the world, and finally in 2009, under his non-stop running, he established a subsidiary of autonomous navigation system research and development - Hexinxingtong.
With continuous hard work, in 2010, the company released the first 90nm, Beidou multi-mode and multi-frequency baseband chip in China.
In last year's data, the company's main source of profit is chips and data services, accounting for almost half of the company's profits.
Its loss-making state has not changed in recent years, and people can't help but sigh that the impact of a wrong move has continued to the present.
But whether it is profitable or not, whether it will not be profitable in the future, it is uncertain, the achievements of BDStar in the field of mainland navigation market are obvious to all.
Under the development of today's intelligent era, the development of Beidou industrialization in mainland China has also entered a "golden age" of development.
I believe that in the future, we will see a more powerful and comprehensive BDStar to promote the development of the mainland satellite navigation industry.
Now the mainland's Beidou system has become one of the world's four major navigation systems, with a wide range of applications in the civilian field, which has greatly promoted the convenience and development of people's lives.
Since the opening of the Beidou-3 system, the stability and reliability of this satellite navigation system, as well as its service performance, have entered the world-class level.
It can be said that it has now entered the fast lane of large-scale application development, and under the development of the intelligent era, this system also plays an indispensable and irreplaceable role in the establishment of digital China.
The continent's current goal is to establish a comprehensive space-time system to make positioning, navigation and timing services more convenient and efficient, and achieve seamless coverage, so as to promote the unmanned development of future science and technology.
Links to previous issues
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Resources:
On June 2, 2023, Beijing Daily reported on "The positioning accuracy can reach the highest millimeter level, this company lets "Beidou" into life".
On May 18, 2023, Guangming.com reported on "Empowering Thousands of Industries, China's Beidou System Enters the Fast Lane of Large-scale Application Development".
On January 13, 2020, Upstream News reported on "Upstream Commentary|BDStar Loses Ten Years of Hard-earned Money in a Year, How to Avoid Stepping on the "Conventional Thunder" of Goodwill".
On April 24, 2024, the financial industry reported on "BDStar (002151.SZ) issued its first-quarter results, with a net loss of 46.2537 million yuan, turning from profit to loss year-on-year".