Summary of Conference Call Company and Industry - The conference call pertains to a radar technology company specializing in meteorological and defense radar systems. Key Points and Arguments R&D and Product Development - The company is experiencing rapid growth in R&D expenses, with a 20% increase noted this year, focusing on new products such as S-band and K-band radars, as well as multi-functional phased array radars for various applications [1][2][3] - The company is optimistic about the demand for phased array radars, particularly in disaster prevention and detection, with historical high demand noted in the first three quarters of the year [3][4] Financial Performance and Order Delivery - The net profit margin has decreased from 40% to 25%, with future stability dependent on the fourth quarter's order delivery [1][2] - The company expects a positive outlook for revenue and profit for the year, supported by a strong order backlog from previous years [2] - The fourth quarter is traditionally a peak season for orders, and the company anticipates a significant number of new bids in November and December [2][3] Market Trends and Demand - The demand for meteorological and hydrological radars is expected to remain strong, driven by increasing awareness of disaster prevention technologies [3][4] - The company is actively participating in various testing projects across cities, indicating a growing market presence [12][21] Product Pricing and Market Strategy - The expected pricing for S-band and C-band products is projected to be in the range of 40-50 million and 20-30 million respectively, although these are preliminary estimates [16][17] - The company is exploring international markets, particularly in countries along the Belt and Road Initiative, while facing challenges due to varying levels of disaster prevention awareness [25][26] Production Capacity and Supply Chain - The company has increased its fixed assets significantly, indicating an expansion in production capacity [9] - There is a focus on maintaining effective control over procurement costs, with a stable supply of components from domestic sources [11][23] Future Outlook - The company is optimistic about the next two to three years in the meteorological and hydrological radar sectors, with expectations of continued growth and product development [6][25] - The company is also considering expanding its product line to include longer wavelength radars (L-band and P-band) in the future, depending on the success of current products [17][18] Challenges and Risks - The company acknowledges potential risks in the supply chain but believes that the current market conditions allow for effective cost control [11] - The integration of radar systems with defense applications is ongoing, with a focus on modular and standardized data outputs for compatibility with various defense systems [28] Other Important Content - The company has participated in the Zhuhai Airshow, showcasing both mature and conceptual radar models [5] - There is a strong emphasis on customer feedback and continuous product optimization based on testing results [12][15] - The company is committed to maintaining a high level of R&D investment to stay ahead of competitors in technology development [27]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][7][10] Core Views - The company achieved a revenue of 136.20 million yuan in the first three quarters of 2024, representing a year-over-year increase of 20.00%. The net profit attributable to shareholders was 26.01 million yuan, down 21.75% year-over-year [2][4] - In Q3 2024, the company reported a revenue of 63.43 million yuan, a significant year-over-year increase of 53.45%, and a net profit attributable to shareholders of 20.12 million yuan, up 45.11% year-over-year [2][4] - The company has signed contracts worth approximately 670 million yuan for new projects in 2024, ensuring revenue certainty for future performance [4][6] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a gross margin of 76.08%, a slight decrease of 0.25 percentage points year-over-year. The gross margin for Q3 was 72.95%, down 8.69 percentage points year-over-year [3][4] - The company’s operating cash flow improved year-over-year, with accounts receivable turnover days decreasing by approximately 128 days compared to the first half of 2024 [5][6] Market Data - Current stock price is 57.64 yuan, with a 52-week price range of 29.55 to 73.50 yuan. The total market capitalization is approximately 12.48 billion yuan [3][4] - The company has a total share capital of 216.53 million shares, with a circulating share capital of 84.74 million shares [3] Future Projections - Revenue projections for 2024 to 2026 are 549 million yuan, 990 million yuan, and 1.388 billion yuan, with year-over-year growth rates of 158%, 80%, and 40% respectively. Net profit projections for the same years are 21.80 million yuan, 43.90 million yuan, and 61.70 million yuan, with growth rates of 245%, 101%, and 41% respectively [7][8][10]

证券代码：688522 证券简称：纳睿雷达 公告编号：临 2024-071 号 广东纳睿雷达科技股份有限公司 关于 2024 年第三季度计提资产减值准备的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 广东纳睿雷达科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开公 司第二届董事会第七次会议和第二届监事会第六次会议，审议通过了《关于 2024 年 第三季度计提资产减值准备的议案》，该事项无需提交公司股东大会审议。现将相关 情况公告如下： 一、本次计提资产减值准备情况概述 根据《企业会计准则》及相关会计政策的规定，为客观、公允地反映公司截至 2024 年 9 月 30 日的财务状况及 2024 年第三季度的经营成果，本着谨慎性原则，公司对截 至 2024 年 9 月 30 日公司及子公司的资产进行了减值测试，对可能发生资产减值损失 的相关资产计提减值准备。公司 2024 年第三季度（2024 年 7 月-9 月）计提各项资产 减值准备合计 6,836,635.96 元，具体情况如下表所示： 单位： ...

证券代码：688522 证券简称：纳睿雷达 公告编号：临 2024-072 号 广东纳睿雷达科技股份有限公司 关于会计政策变更的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、本次会计政策变更概述 （一）变更原因 2023 年 8 月，财政部发布了《企业数据资源相关会计处理暂行规定》。 2024 年 3 月，财政部发布了《企业会计准则应用指南汇编 2024》，规定保证类质 保费用应计入营业成本。 （二）变更的日期 公司自 2024 年 1 月 1 日起执行上述规定，对相关的会计政策进行变更。 （三）变更前后采用的会计政策 本次会计政策变更前，公司执行财政部发布的《企业会计准则——基本准则》和 各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他相关规 定。本次会计政策变更后，公司将按照《企业数据资源相关会计处理暂行规定》、《企 业会计准则应用指南汇编 2024》等相关规定执行。其他未变更部分，仍按照财政部前 期颁布的《企业会计准则——基本准则》和各项具体会计准则、企业会计准则应用指 ● ...

广东纳睿雷达科技股份有限公司 舆情管理制度 第一章 总则 第一条 为提高广东纳睿雷达科技股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股价、 公司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益，根据相关 法律、法规和规范性文件及《广东纳睿雷达科技股份有限公司章程》（以下简称"《公 司章程》"）的规定，结合公司实际情况，制定本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道、不实报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； 第四条 公司应对各类舆情实行统一领导、统一组织、快速反应、协同应对。 第五条 公司成立应对舆情管理工作领导小组（以下简称"舆情工作组"）,由公 司董事长任组长，董事会秘书担任副组长，成员由公司其他高级管理人员及相关职能 部门负责人组成。 第六条 舆情工作组是公司应对各类舆情处理工作的领导机构，统一领导公司应 对各类舆情的处理工作，就相关工作做出决策和部署，根据需要研究决定公司对外发 布信息，主要工作职责包括： （一）决定启动和终止各类舆情处理工作的相关事宜 ...

证券代码：688522 证券简称：纳睿雷达 公告编号：临 2024-070 号 广东纳睿雷达科技股份有限公司 关于使用部分暂时闲置自有资金进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 广东纳睿雷达科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开 第二届董事会第七次会议和第二届监事会第六次会议，审议通过了《关于使用部分暂 时闲置自有资金进行现金管理的议案》，同意公司及子公司使用不超过人民币 6 亿元 （含）的暂时闲置自有资金进行现金管理，用于购买安全性高、流动性好的投资产品 （包括但不限于协定性存款、结构性存款、定期存款、通知存款、大额存单等），有 效期自本次董事会审议通过之日起 12 个月内有效，上述额度在期限范围内可循环滚 动使用。 一、本次使用部分暂时闲置自有资金进行现金管理的概况 （一）现金管理目的 为了提高资金使用效率，在不影响正常经营和确保资金安全的前提下，公司及子 公司将合理使用闲置自有资金进行现金管理，从而增加投资收益，为公司及股东获取 更多回报。 （二）资金来源 ...

广东纳睿雷达科技股份有限公司 董事、监事和高级管理人员所持公司股份及其变动管理制度 第一章 总则 第一条 为加强对广东纳睿雷达科技股份有限公司（以下简称"公司"）董事、 监事和高级管理人员所持公司股份及其变动管理，根据《中华人民共和国公司法》（以 下简称"《公司法》"）《中华人民共和国证券法》（以下简称"《证券法》"）《上 市公司股东减持股份管理暂行办法》《上市公司董事、监事和高级管理人员所持本公 司股份及其变动管理规则》《上海证券交易所上市公司自律监管指引第15号——股东 及董事、监事、高级管理人员减持股份》《上海证券交易所科创板上市公司自律监管 指引第1号——规范运作》等法律、法规、规范性文件以及《广东纳睿雷达科技股份 有限公司章程》（以下简称"《公司章程》"）的有关规定，结合公司的实际情况， 制定本制度。 第二条 公司董事、监事、高级管理人员所持本公司股份，是指登记在其名下和 利用他人账户持有的所有本公司股份。从事融资融券交易的，其所持本公司股份还包 括记载在其信用账户内的本公司股份。 公司董事、监事、高级管理人员不得从事以本公司股票为标的证券的融资融券交 易，不得开展以本公司股票为合约标的物的衍生品交 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥63,427,875.62, representing a year-on-year increase of 53.45%[2] - Net profit attributable to shareholders for Q3 2024 was ¥20,119,543.61, up 45.11% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥20,089,838.22, reflecting a 48.20% increase year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached CNY 136,204,551.59, an increase of 20.04% compared to CNY 113,507,927.97 in the same period of 2023[16] - The net profit for the first three quarters of 2024 is CNY 26,008,690.89, a decrease of 21.9% compared to CNY 33,237,332.81 in the same period of 2023[18] - The total profit for the first three quarters of 2024 is CNY 22,321,614.33, down from CNY 31,987,511.42 in 2023, marking a decline of 30.4%[18] Expenses and Costs - Research and development expenses totaled ¥17,038,929.48 for Q3 2024, accounting for 26.86% of operating revenue, a decrease of 12.94 percentage points from the previous year[4] - Total operating costs amounted to CNY 102,253,626.26, up from CNY 81,711,168.42, reflecting a year-on-year increase of 25.06%[16] - Research and development expenses increased to CNY 53,745,308.87, compared to CNY 44,767,495.96, marking a rise of 19.8%[16] Assets and Equity - Total assets at the end of Q3 2024 amounted to ¥2,441,197,581.52, an increase of 3.72% compared to the end of the previous year[4] - The total equity attributable to shareholders at the end of Q3 2024 was ¥2,182,475,798.54, a slight decrease of 0.41% from the previous year[4] - The company's total assets reached CNY 2,441,197,581.52, up from CNY 2,353,566,465.00, indicating a growth of 3.73%[15] - The total equity attributable to shareholders was CNY 2,182,475,798.54, slightly down from CNY 2,191,475,417.12, a decrease of 0.13%[15] Cash Flow - The company reported a net cash flow from operating activities of -¥20,791,993.90 year-to-date, indicating a significant cash outflow[2] - Cash inflow from operating activities for the first three quarters of 2024 is CNY 270,862,328.58, significantly higher than CNY 112,943,010.44 in 2023[21] - The cash flow from investing activities shows a net outflow of CNY 239,555,583.51 in 2024, compared to a smaller outflow of CNY 25,080,219.87 in 2023[21] - The cash flow from financing activities resulted in a net outflow of CNY 71,845,789.13 in 2024, contrasting with a substantial inflow of CNY 1,601,205,395.95 in 2023[22] - The company reported a cash and cash equivalents balance of CNY 1,402,536,589.33 at the end of the reporting period, down from CNY 1,726,572,438.74 at the end of 2023[22] Shareholder Information - The largest shareholder, Zhuhai Jiazhongtong Technology Co., Ltd., holds 41.56% of the shares[10] - The top ten shareholders include several individuals and investment funds, with the largest individual shareholder holding 11.03%[10] - The company reported no changes in the participation of major shareholders in margin trading or securities lending activities[11] Earnings Per Share - Basic earnings per share for Q3 2024 were ¥0.09, unchanged from the previous quarter, while diluted earnings per share were also ¥0.09[2] - The company experienced a decrease in basic and diluted earnings per share year-to-date, down 42.86% compared to the previous year due to an increase in total share capital[8] - The basic and diluted earnings per share for the first three quarters of 2024 are both CNY 0.12, down from CNY 0.21 in 2023, indicating a decrease of 42.9%[18] Contractual Obligations - As of September 30, 2024, the company signed new contracts worth approximately ¥673,186,300, all of which are being executed as per contractual requirements[11] - The company’s contract liabilities surged to CNY 119,734,986.29 from CNY 8,444,039.27, an increase of 1,319.5%[14]

二、监事会会议审议情况 （一） 审议并通过了《关于<2024 年第三季度报告>的议案》 证券代码：688522 证券简称：纳睿雷达 公告编号：临 2024-069 号 广东纳睿雷达科技股份有限公司 第二届监事会第六次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 广东纳睿雷达科技股份有限公司（以下简称"公司"）监事会于 2024 年 10 月 22 日以书面形式发出会议通知，于 2024 年 10 月 28 日在公司会议室以现场方式召开会 议并作出本监事会决议。本次会议由公司监事会主席刘航先生召集并主持，会议应出 席监事 3 名，实际出席监事 3 名。本次会议召开符合《中华人民共和国公司法》《中 华人民共和国证券法》等法律、法规、规范性文件和《广东纳睿雷达科技股份有限公 司章程》（以下简称"《公司章程》"）《广东纳睿雷达科技股份有限公司监事会议事规 则》的有关规定，会议决议合法、有效。 议案表决情况：有效表决票 3 票，同意 3 票，反对 0 票，弃权 0 票。 经审核，监事会认为：公司 ...

广东纳睿雷达科技股份有限公司 子公司管理制度 第一章 总则 第一条 为加强广东纳睿雷达科技股份有限公司（以下简称"公司"）对子公司 的管理控制，监督子公司行为，保证子公司规范运作和依法经营，促进公司规范运作 和健康发展，保护投资者合法权益，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《中华人民共和国证券法》《企业内部控制基本规范》《上海证券交易所 科创板股票上市规则》等法律、法规、规范性文件及《广东纳睿雷达科技股份有限公 司章程》（以下简称"《公司章程》"）的相关规定，结合公司的实际情况，制定本 制度。 第二条 本制度所称子公司是指公司根据总体战略规划、产业结构布局或业务发 展需要而依法设立或投资的、具有独立法人主体资格的公司，包括但不限于全资子公 司、控股子公司及其他受公司直接或间接控制的主体。 1、全资子公司：指公司投资且在该子公司中持股比例为100%； 2、控股子公司：指公司投资且在该子公司中持股比例在50%以上，或未达到50% 但能够决定其董事会半数以上成员的组成，或者通过协议或其他安排能够实际控制的 子公司。 第三条 本制度旨在加强公司对子公司的管理，建立有效的管控与整合机制，对 子公司 ...