All of the statements in this article are based on reliable sources and are reproduced at the end of this article
Preface
In 2020, with the full completion of the mainland's "Beidou-3" satellite system.
The continent became the third country in the world to have a satellite navigation system with mature technological capabilities.
And on this basis, BDStar Navigation Technology Co., Ltd. appeared.
It can also be seen from the name that this is a company backed by the Beidou satellite system, which logically follows the continuous popularization of the Beidou satellite system on the mainland.
BDStar should be able to make a lot of money.
But what is very strange is that this BDStar company, which has broken the monopoly of the United States for many years, has been in a state of loss for several years and has to sell off the industry in its hands.
And all because of a bad decision made by the company back then.
So, what did BDStar do back then?
If you fall behind, you will be beaten
More than ten years ago, as long as the navigation system was mentioned, the first thing that came to everyone's mind was the GPS in the United States.
Because with the continuous development and progress of the times, the navigation function gradually occupies a very important position in daily life.
Similarly, navigation systems play a vital role in today's information-based and digitized military.
Many missile weapons and tracking techniques need to rely on navigation to obtain more accurate positions, and even play a role in changing the situation.
As the world's largest economy, it is undeniable that the United States did master a lot of advanced technologies in the world back then.
In terms of satellite navigation, GPS is a dominant situation.
However, it is precisely because of this, especially in the "Gulf War" that broke out in 1991, that people can see the role of satellite navigation in the military.
Not only has the three armed forces of the sea, land, and air forces been linked, but it has even been able to clearly grasp the movements of the enemy's forces.
And after countries around the world began to use the GPS of the United States one after another, the country seems to have grasped the "lifeblood" of other countries.
The United States directly interfered with the normal navigation of the Galaxy by controlling the GPS signals around the Milky Way.
It became a headless fly on the sea, losing its direction.
This incident has had a huge impact on the mainland, and at the same time, it has also made us deeply realize that it is imminent to have our own navigation system.
Beidou satellites break the monopoly
The mainland has long recognized the importance of the problem, so it has begun to work on navigation systems around the eighties of the last century.
And it has also developed a "three-step strategy" plan, which is divided into Beidou No. 1, No. 2 and No. 3.
The scope of services provided is also different at different stages.
In 2000, the first satellite of Beidou-1 was successfully launched, which also indicates that the mainland has initially possessed its own navigation system.
In the same year, Beijing's BDStar Communication Company was also successfully registered.
In addition, BDStar is also developing and growing with the continuous "growth" of the BDStar satellite system.
In 2020, the last satellite of Beidou-3 was launched and successfully entered the Beidou satellite network, and Beidou Satellite 3 was fully completed.
This means that the continent can provide basic navigation and other services to countries and regions around the world.
It can provide users with accurate navigation and various services in an all-round way around the clock.
Nowadays, more than 130 countries in the world have signed Beidou navigation agreements with the mainland, and with the completion of the global network, the mainland's Beidou navigation system will be more widely used in the global business.
BDStar's development is also getting better and better, and it has also become the first listed company in the satellite navigation industry in mainland China.
The company aspires to provide excellent products and services to users around the world and become the world's leading provider of "location digital".
Not only that, but the company is now relatively large, with more than 4,500 employees.
But it seems that the company has a very bright future, but the company is in huge losses.
One careless move, ten years of losses
In 2020, BDStar announced its 2019 financial statements.
I really don't know if I don't see it, and it's very surprising when I look at it.
It turned out that during 2019, the company not only did not make a profit, but its net profit was between 550 million and 560 million.
Although the company's losses are relatively normal, in the previous ten years, the company only made a total profit of less than 500 million yuan.
Now it can be said that 2019 has lost the money earned in the previous ten years.
And this situation has a lot to do with the company's decision-making.
BDStar, as a listed company, launched a series of corporate acquisitions around the "BDStar+" project in 2015.
In just a few years, at least 7 companies have been acquired, and a large number of acquired companies are very prone to hidden dangers.
After all, when a listed company acquires other companies, it is generally acquired at a premium.
And this part of the overflow price is to be borne by the listed company itself.
If the acquired company has a phenomenon of poor management and a loss in turnover, then part of this loss is also borne by the listed company itself.
And this is also the main reason for BDStar's loss in 2019.
And this kind of major hidden danger caused by the acquisition of other companies at a premium is not only that, BDStar has not completely solved this problem.
This also means that BDStar still has the risk of "thunderstorm".
From January to May 2023, BDStar's net profit is still in a loss-making situation, with a loss of 38 million yuan.
BDStar has also carried out a series of "self-rescue" operations.
In 2023, it will sell its subsidiary Beidou Zhilian, which has been losing money for many years.
In 2023, BDStar will only hold 18.21% of the shares of BDStar, so BDStar's finances will no longer be included in the scope of BDStar.
BDStar, as the only navigation and communication company in mainland China, has been in a loss-making situation in recent years, but it will not stand still, and it is still constantly investing in new projects.
However, now the Beidou satellite system is also moving forward with a heavy burden in difficulties, and BDStar has no reason to give up.
I believe that BDStar will stand up again and regain its strength.
Text | On Yun Xuan
Edit | On Yun Xuan
Resources:
Upstream News2020-01-13——Upstream Comments|BDStar loses ten years of hard-earned money in a year, how to avoid stepping on the "conventional thunder" of goodwill
Interface News2023-10-13——BDStar sells loss-making targets for 253 million, and the counterparty's liquid assets are less than 10 million "premium" to take over?
China Youth Daily 2011.5.5 - Chinese companies tear open the monopoly of international satellite navigation
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