The Tian-Hui 1 (TH-1) is the first stereo mapping transmission satellite in China, and the primary mission goal of the satellite is for topographic mapping at 1:50,000 scale without Ground Control Points (GCPs). 1st, 2nd and 3rd satellite of TH-1 was launched on August 24, 2010, May 6, 2012 and October 26, 2015. In TH-1 satellite, many payloads are put on a small satellite platform, which has a low cost. The optical camera of TH-1 includes Line-Matrix CCD (LMCCD) camera, high resolution camera and multispectral camera with 60 km ground swath width. To get high geometric accuracy without GCPs, the on-orbit calibration camera parameters and the Equivalent Frame Photo (EFP) Multi-functional bundle adjustment are proposed and realized in ground image processing of TH-1. In order to evaluate the location accuracy of TH-1, some testing fields are established. All GCPs of testing fields are measured by GPS. The GCPs are not participated the EFP Multi-functional bundle adjustment, and are only as Check Points (CPs) to evaluate the location accuracy. The evaluation of 1st satellite is shown: the horizontal accuracy is 10.3 m (RMSE) and the vertical accuracy is 5.7 m (RMSE) without GCPs, which can satisfy for topographic mapping at 1:50,000 scale. The overviews of TH-1 satellite are described in this paper: First, the system overview is introduced, including mission and optical camera of TH-1. Then, the on-orbit calibration camera parameters using LMCCD image and the EFP Multi-functional bundle adjustment are presented. Finally, the location performance is analysed without GCPs and with different number of GCPs. In addition, the products of TH-1 are introduced.