China Satellite (600118.SH) has disclosed its financial results for the first quarter of 2026, revealing that the company generated revenue amounting to 609 million yuan, marking a significant year-on-year surge of 37.89%. Despite this robust revenue growth, the company experienced a net loss attributable to shareholders of the listed entity, amounting to 42.6902 million yuan. This loss represents an exacerbation from the 24.1095 million yuan loss recorded during the same period in the previous year. The key factors contributing to this shift in financial performance include escalated operating costs, heightened period expenses, increased asset impairment losses, and a reduction in the super-deduction benefits related to value-added tax. It is particularly noteworthy that, when compared to the net profit of 20.7453 million yuan achieved in the fourth quarter of 2025, the company transitioned from a profitable stance to a loss-making one on a quarter-on-quarter basis in the first quarter of 2026.