Business Overview - Beijing Huzhong Sizhuang Technology Co., Ltd. focuses on high-end products and services in the spatial information application market, with three core business segments: Beidou mobile internet applications, Beidou high-precision applications, and spatial information services [1][2] - Beidou mobile internet applications include GIS data collection products, portable navigation products, and handheld mobile smart terminals [1] - Beidou high-precision applications involve chips, boards, precision agriculture, marine positioning, driving schools, and measurement terminals [1][2] - Spatial information services focus on high-security databases, spatial data, and location-based service platforms [1][2] Financial Performance - The company achieved total revenue of ¥200,321,400.34, a 15.64% increase year-on-year, primarily due to the integration of the North American subsidiary Hemisphere [2][3] - Excluding Hemisphere's revenue, original business revenue decreased, with a 59.65% decline in the consumer product line [2] - Beidou mobile internet products grew by 26.56%, while Beidou high-precision applications surged by 352.87% [2] - The net profit for the period was -¥34,282,371.63, a 3.56% decrease from the previous year, with a gross margin of 39.14%, up by 8.05% [3] Market Insights - The public security market is considered vast, encompassing various sectors beyond police work, such as fire services and urban security management [4] - The precision agriculture market is still in the cultivation stage, with expectations for rapid growth in the next 3 to 5 years due to government subsidies [6] Strategic Initiatives - The company is enhancing its technical capabilities in high-precision chips and boards, aiming for international top-tier performance [6] - The management emphasizes a strategic transformation year, aiming for smoother operational performance [3][5] Operational Challenges - High management costs were attributed to increased R&D and operational expenses from Hemisphere, although overall management expenses decreased by 13% when excluding these factors [3] - The company is focusing on integrating business resources and deepening industry solutions to strengthen its market position [3][5] Future Outlook - The company is optimistic about the potential of the public security market and is actively expanding in this area [4] - The focus remains on specialized markets rather than the competitive mass market for vehicle navigation terminals [5]

Group 1: Company Information - Securities Code: 002383 [1] - Securities Abbreviation: Hezhong Sizhuang [1] Group 2: Investor Relations Activity - Activity Type: Specific Object Research [2] - Date of Activity: September 9, 2014 [2] - Location: Company Conference Room [2] Group 3: Participants - Participating Units: Zhongyin International, Guohai Securities, and招商证券 [2] - Company Representatives: Secretary of the Board Hou Hongmei, Marketing Director Sun Ying [2] Group 4: Attachments - Attachment 1: Visitor Commitment Letter [2] - Attachment 2: Research Summary [2]

Group 1: Company Strategy and Vision - The company aims to become a global leader in high-precision products and services in the spatial information field, focusing on the global development of the BeiDou navigation industry [1] - The new strategy, termed "121," revolves around two core business directions: BeiDou high precision and BeiDou mobile internet, along with a comprehensive service platform [1] Group 2: High-Precision Applications - Traditional high-precision applications include disaster monitoring, surveying, precision agriculture, and machinery control, which occupy a significant position in the satellite navigation market [2] - The emergence of "pan-high precision applications" expands the application fields significantly, with positioning accuracy ranging from millimeters to about 1 meter [2] Group 3: Opportunities for Chinese Enterprises - BeiDou is positioned as the most favorable system for promoting high-precision applications globally, particularly in the Asia-Pacific region, which is expected to be the most active GNSS market in the next decade [2] - The development of BeiDou provides Chinese enterprises with opportunities to catch up in the high-precision application market, as Western companies have historically overlooked this region [2] Group 4: Development Path of BeiDou Industry in China - National policy support is crucial for the development of the BeiDou industry, as it is considered a strategic resource for national economic and social development [3] - The BeiDou system's development will follow a marketization process, similar to that of the GPS system, to ensure its global reach [3]

Financial Performance - In 2014, the company achieved revenue of ¥489,874,157.57, a decrease of 20.96% compared to ¥619,755,877.30 in 2013 [1] - The overall gross margin for 2014 was 37.33%, down 3.92% year-on-year [2] - The gross margin for the Beidou high-precision business was 41.4%, a decline of 7.84% from the previous year [2] - The gross margin for the Beidou mobile internet business was 34.74%, down 1.57% year-on-year [2] - The gross margin for the spatial information service business was 36.23%, a decrease of 7.89% compared to the previous year [2] Business Challenges - The company is in an adjustment period, with police and precision agriculture businesses still in the market cultivation stage, leading to slower revenue growth [2] - Delays in the overall bidding process in the police industry resulted in lower-than-expected sales revenue [2] - New products are still in the development and testing phase, not yet generating significant benefits [2] High-Precision Business Applications - The Beidou high-precision business focuses on product applications in measurement, precision agriculture, and driving tests, with established market scales [3] - The precision agriculture market utilizes automatic driving equipment for tractors, achieving positioning accuracy of 2 cm, enhancing operational efficiency [4] Market Strategies - The promotion model for precision agriculture is primarily direct sales, currently accounting for about 90%, transitioning to channel promotion as the market matures [4] - The driving test market is a key target for the company, with high penetration of high-precision applications through integration services for driving schools [4] Competitive Positioning - Hemisphere serves as the company's core technology R&D center for high-precision products, with advantages in dynamic positioning and performance in harsh environments [4] - The company has made strategic acquisitions to enhance its police business capabilities, integrating with mobile policing platforms for comprehensive solutions [5] Future Outlook - The company anticipates growth in the police market in 2015 due to accumulated business orders and increased demand for industrial-grade terminal products [5] - The company is actively involved in the construction of the Beijing Beidou Navigation and Location Service Platform, with plans to expand to other cities [5] - The company aims to release enterprise value and performance through its 1-2-1 strategy in 2015, leveraging its relatively complete satellite navigation industry chain [6]

Group 1: Company Overview and Management Plans - The company's executive shareholding plan will be completed by June 30, 2016, and will not be changed [1] - The company is engaged in high-precision chips, algorithms, and boards, achieving international leading levels in these areas [2] Group 2: Market Expansion Strategies - The company plans to strengthen market expansion in high-precision and mobile internet sectors, focusing on surveying, precision agriculture, and driving school markets [2] - Following the acquisition of three companies, the company aims to enhance its competitiveness in the surveying market both domestically and internationally [2] - The company has established early market presence in precision agriculture, particularly in Xinjiang and Heilongjiang, and will continue to invest in this area to capture significant market share [3] Group 3: Product Competitiveness and Benefits - The core competitiveness in precision agriculture lies in product competitiveness and service capabilities, leveraging the agricultural machinery ecosystem [3] - Implementing automatic driving systems in agricultural machinery can achieve a positioning accuracy of 2 cm, increasing productivity by 5-10% and reducing the need for skilled operators [3] Group 4: Integration and Future Directions - The integration of Hemisphere has met expectations, enhancing the company's R&D capabilities and aligning with global standards [4] - The company anticipates that the decline in the proportion of high-precision products is temporary, as both high-precision and mobile internet businesses will converge in the future [4] Group 5: Acquisition Strategy - The company plans to utilize capital for industry integration as a primary growth model, focusing on vertical competitiveness in key areas [5] - Potential acquisition targets will be evaluated based on their market scale, operational capabilities, and alignment with the company's strategic goals [5] Group 6: Market Dynamics and Government Role - The development of the Beidou industry relies more on market capabilities than government promotion, although government policies play a role in macroeconomic support [5] - The emergence of smart terminals has opened significant development opportunities for Beidou applications, particularly in overseas markets like Southeast Asia [5]

Company Overview - Beijing Huzhong Sizhuang Technology Co., Ltd. is one of the earliest companies in the satellite navigation and positioning field, established in 1994, with the vision of becoming a global leader in high-precision professional products and services in the spatial information domain [2] - The company focuses on Beidou high-precision mobile internet applications, characterized by "precision and professionalism" [2][3] Business Focus - Beidou high-precision applications target dynamic high-precision positioning markets, serving sectors such as surveying and mapping, agricultural automation, mechanical control, and driving school examination equipment [3] - Beidou mobile internet applications aim at industry-specific markets, leveraging competitive advantages of professional terminal products and providing comprehensive solutions for sectors like surveying, precision agriculture, civil aviation, public safety, electricity, land management, and urban management [3] Financial Insights - Despite continuous revenue growth, the company experiences negative cash flow due to increased R&D investments and extended accounts receivable periods, particularly in government-subsidized precision agriculture projects, which have repayment cycles of six months to one year [3] - The negative cash flow is attributed to the company being at a developmental turning point, with expectations of improvement as the business matures [3] Fund Management - The company has strict regulations for the use of raised funds, which must be managed in dedicated accounts; some funds will extend into the next fiscal year due to a two-year implementation cycle [4] Strategic Transformation - The company relies on acquisitions for transformation, as penetrating various industries with a single enterprise is nearly impossible; it aims to strengthen Beidou's core technology and products while integrating space information applications with traditional industries [4] - Acquisitions and industry consolidation are key development strategies for the company to achieve large-scale application of Beidou technology [4]

Group 1: Company Overview - Securities Code: 002383 [1] - Securities Abbreviation: Hezhong Sizhuang [1] Group 2: Investor Relations Activity - Activity Type: Specific Object Research [2] - Date of Activity: April 18, 2017 [2] - Location: Company Conference Room [2] Group 3: Participants - Participants from Fuhua Investment: Hu Jialing, Yan Yujing [2] - Participants from Tianfeng Securities: Wang Yilei [2] - Participants from Xing Shi Investment: Chen Qiteng [2] - Participants from Zheshang Securities: Wen Mingxuan [2] - Participants from Guoyuan Securities: Chang Qihui, Zhu Jie [2] Group 4: Company Representatives - Company Representative: Secretary of the Board, Zuo Yuli [2]

Company Overview - Beijing Huzhong Sizhuang Technology Co., Ltd. is one of the earliest companies in China's satellite navigation and positioning field, established in 1994 with the vision of becoming a global leader in high-precision professional products and services in the spatial information domain [1]. Business Focus - The company focuses on Beidou high-precision mobile internet applications, characterized by "precision and professionalism," targeting dynamic high-precision positioning markets such as surveying, agricultural automation, and mechanical control [2]. - The company has completed a full industry chain layout, integrating satellite navigation with various technologies, including communications and internet applications, indicating a broad application prospect [2]. Market Opportunities - The high-precision application market is mature in China but presents significant growth opportunities in Southeast Asia, Africa, and Russia, with potential for domestic products to replace European and American counterparts [3]. - The precision agriculture market has low penetration rates, indicating substantial future growth potential, especially in domestic and overseas markets for small to medium-sized tractors [3]. Product Development - The company has developed the "China Time" synchronization system, which has strategic importance for the country, and aims to enhance the domestic application of Beidou timing solutions [3]. - The "China Position" service platform provides public location services for cities and small businesses, integrating urban and industry data resources, which is crucial for future smart city developments [4]. - The "China Precision" system is the fourth commercial satellite-based augmentation system globally, offering centimeter-level positioning accuracy, which strengthens the company's competitive edge in high-precision fields [4]. Positioning Services and Revenue Model - The positioning service business relies on the "China Position" spatial data cloud platform, with three revenue models: providing platform services to SMEs, specialized operational services to industries or cities, and data services to governments or industries [5]. Strategic Partnerships - The company has signed a strategic cooperation agreement with China Yituo Group to advance agricultural machinery automation technology and develop high-precision agricultural control products [6]. - The partnership with ofo involves providing positioning terminals and operational platform support [5]. Growth Factors - The high-precision business is expected to grow significantly in the coming years, driven by differentiation in domestic markets and expansion into overseas markets [6]. - The company has a high global market share in marine positioning, with future applications extending to robotics and drones [7]. International Market Dynamics - The overseas market growth is primarily due to the localization of existing products and some new market opportunities, particularly in Southeast Asia [7]. Aviation Sector Integration - Civil aviation airport scheduling requires high-precision applications, and integrating spatial information technology with traditional scheduling systems will enhance information systems and services in the aviation sector [7].

北京合众思壮科技股份有限公司 2022 年第三季度报告 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大 遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 1 北京合众思壮科技股份有限公司 2022 年第三季度报告 证券代码：002383 证券简称：合众思壮 公告编号：2022-062 北京合众思壮科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 453,307,117.51 | -0.7 ...