证券代码：002465 证券简称：海格通信 公告编号：2024-049 号 经审核，监事会认为：董事会编制和审核《公司 2024 年第三季度报告》的程 序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映 了上市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 广州海格通信集团股份有限公司 第六届监事会第十四次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 广州海格通信集团股份有限公司（以下简称"公司"）第六届监事会第十四次 会议于 2024 年 10 月 28 日以通讯方式召开。本次会议的召开事宜由公司监事会于 2024 年 10 月 24 日以书面通知、电话、电子邮件等方式通知公司全体监事。公司 3 名监事全部参与表决。本次会议的召集、召开和表决程序符合《公司法》及《公 司章程》的有关规定。 与会监事经认真审议，对以下事项进行了表决，形成监事会决议如下： 一、 审议通过《公司 2024 年第三季度报告》 2024 年 10 月 29 日 1 表决结果：赞成票 3 票，弃权票 0 票，反对票 0 票。 详见公司于 ...

证券代码：002465 证券简称：海格通信 公告编号： 2024-051 号 广州海格通信集团股份有限公司 关于调增 2024 年度日常关联交易预计的公告 广州海格通信集团股份有限公司（以下简称"公司"）于 2024 年 3 月 27 日 召开第六届董事会第十四次会议，审议通过了《关于 2024 年度日常关联交易预 计的议案》，预计 2024 年度公司与关联方发生的日常关联交易总金额约为人民 币 2 亿元。详见公司于 2024 年 3 月 29 日刊登在《中国证券报》《证券时报》 《证券日报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）上的《关于 2024 年度日常关联交易预计的公告》。 公司于 2024 年 10 月 28 日召开第六届董事会第二十二次会议，审议通过了 《关于调增 2024 年度日常关联交易预计的议案》，根据公司日常经营的实际需 要，调增公司与关联人广电运通集团股份有限公司（以下简称"广电运通"）、 广电计量检测集团股份有限公司（以下简称"广电计量"）、广州信息投资有限 公司（以下简称"广州信投"）、广东暨通信息发展有限公司（以下简称"暨通 信息"）2024 年度日常关联 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥1,175,176,522.62, an increase of 1.46% year-over-year, while the revenue for the year-to-date period decreased by 6.66% to ¥3,766,585,820.78[2] - The net profit attributable to shareholders for Q3 2024 was a loss of ¥10,906,854.79, representing a decline of 123.10% compared to the same period last year, with a year-to-date net profit of ¥184,920,621.26, down 48.43%[2] - The basic and diluted earnings per share for Q3 2024 were both ¥0.0044, a decrease of 121.46% year-over-year, while the year-to-date figure was ¥0.0745, down 52.12%[2] - The net profit for Q3 2024 was CNY 217.31 million, a decrease from CNY 369.06 million in the same period last year, representing a decline of approximately 41.0%[24] - Operating income for Q3 2024 was CNY 164.85 million, down from CNY 375.30 million year-over-year, indicating a decrease of about 56.1%[24] - The total comprehensive income for Q3 2024 was CNY 217.31 million, compared to CNY 369.06 million in the same quarter last year, indicating a decline of about 41.0%[24] Assets and Liabilities - Total assets as of the end of Q3 2024 were ¥20,933,360,849.15, reflecting a 7.72% increase from the end of the previous year[2] - The company's total liabilities increased significantly, with short-term borrowings rising by 55.05% to ¥1,938,782,463.50, driven by liquidity needs[5] - Total liabilities rose to CNY 7,596,617,864.54, up from CNY 5,944,354,859.82, indicating increased leverage[22] - The equity attributable to shareholders decreased to CNY 12,684,259,185.54 from CNY 12,866,655,447.80, showing a decline in shareholder value[22] Cash Flow - The company’s cash flow from operating activities for the year-to-date period was negative at -¥1,045,845,162.36, a decrease of 9.67% compared to the previous year[2] - Cash flow from operating activities showed a net outflow of CNY 1.05 billion, compared to a net outflow of CNY 953.61 million in the previous year, reflecting a worsening cash flow situation[25] - Cash flow from investing activities resulted in a net outflow of CNY 1.12 billion, compared to a net outflow of CNY 2.65 billion in the previous year, indicating improved investment cash flow management[26] - Cash flow from financing activities generated a net inflow of CNY 1.98 billion, significantly higher than the CNY 355.95 million recorded in the same period last year, showing a strong increase in financing activities[26] Investments and Projects - The company plans to invest a total of 1.2 billion RMB in the construction of the Xi'an industrial base, with its own investment amounting to 120 million RMB[14] - The company approved a capital increase of 150 million RMB to its wholly-owned subsidiary Guangzhou Haige Jingwei Information Industry Co., Ltd., using 120 million RMB from raised funds and 30 million RMB from its own funds[13] - The company is collaborating with China Mobile to enhance business cooperation, with plans to recommend a management candidate for the board[10] - The company agreed to increase its role in the "Beidou + 5G" integrated R&D industrialization project[16] - The company established a new subsidiary, Chongqing Haige Aerospace Information Technology Co., Ltd., with a registered capital of RMB 80 million, holding 90% equity[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 107,347[8] - Guangzhou Digital Technology Group Co., Ltd. is the largest shareholder, holding 25.31% of the shares, equivalent to 628,149,283 shares[8] - The top ten shareholders hold a significant portion of the company's shares, with the top three shareholders collectively owning 29.45%[10] Government Support and Financial Management - The company received government subsidies amounting to ¥108,183,766.21 year-to-date, contributing positively to its financial performance[3] - The company approved a receivables factoring business with a total limit not exceeding RMB 200 million[15] - The company and its subsidiaries are authorized to use up to RMB 1.2 billion of temporarily idle raised funds for cash management[15] - The company approved the use of up to RMB 2.5 billion of idle self-owned funds for cash management[18] - The company plans to apply for a credit financing limit of up to RMB 5.5 billion from relevant banks[18] Operational Efficiency - Total operating costs amounted to CNY 3,700,349,042.97, slightly down from CNY 3,711,080,486.16, indicating a cost reduction strategy[23] - Research and development expenses increased to CNY 702,157,883.85, up from CNY 651,077,005.28, reflecting a focus on innovation[23] - The company reported a net profit margin improvement with a decrease in sales expenses to CNY 122,445,755.98 from CNY 142,256,883.81[23] - The company achieved a net investment income of CNY 4,522,184.01, compared to CNY 4,041,939.83 in the previous period, indicating better investment performance[23] - Deferred tax assets increased to CNY 273,012,782.51 from CNY 195,347,955.39, suggesting improved tax planning strategies[22] Market Strategy - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[23] - The company has increased its business scope to include new areas, following the approval of the board and shareholders[14]

与会董事经认真审议，对以下事项进行了表决，形成董事会决议如下： 一、 审议通过《公司 2024 年第三季度报告》 表决结果：赞成票 9 票，弃权票 0 票，反对票 0 票。 证券代码：002465 证券简称：海格通信 公告编号：2024-048 号 广州海格通信集团股份有限公司 第六届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 广州海格通信集团股份有限公司（以下简称"公司"）第六届董事会第二十 二次会议于 2024 年 10 月 28 日以通讯方式召开。本次会议的召开事宜由公司董 事会于 2024 年 10 月 24 日以书面通知、电话、电子邮件等方式通知公司全体董 事及其他列席人员。公司 9 名董事全部参与表决。本次会议的召集、召开和表决 程序符合《公司法》及《公司章程》的有关规定。 董 事 会 2024 年 10 月 29 日 2 详见公司于 2024 年 10 月 29 日披露在《中国证券报》《证券时报》《证券日 报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）的《公司 2024 年第三 季度报告》。 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][4]. Core Insights - The company, Haige Communication, is a leading enterprise in wireless communication and Beidou navigation, with a focus on four main areas: wireless communication, Beidou navigation, aerospace, and intelligent ecology [3][4]. - Revenue and profit have shown steady growth, with a compound annual growth rate (CAGR) of 8.77% in revenue from 2019 to 2023, increasing from 4.607 billion to 6.449 billion yuan, and a CAGR of 7.88% in net profit, rising from 519 million to 703 million yuan [3][4]. - The company emphasizes research and development (R&D), with R&D expenses accounting for approximately 15% of revenue, and a significant increase in R&D expense ratio to 18.41% in the first half of 2024 [3][4]. Summary by Sections 1. Company Overview - Haige Communication, founded in 2000, is a key member of the Guangzhou Digital Technology Group and specializes in wireless communication and Beidou navigation systems [10][14]. - The company has a broad geographical presence across major cities in China and operates multiple subsidiaries focusing on various technological services [10][16]. 2. Financial Performance - The company reported a revenue of 25.91 billion yuan in the first half of 2024, a decrease of 9.93% year-on-year, with a net profit of 1.96 billion yuan, down 37.11% [3][17]. - Wireless communication revenue fell by 44.60% to 7.31 billion yuan, while Beidou navigation revenue increased by 3.04 billion yuan, representing a significant growth in this segment [3][18]. 3. Market Opportunities - The company is well-positioned to benefit from the increasing penetration of Beidou applications and the growth of the defense informationization sector, with a projected 7.20% increase in national defense spending for 2024 [23][24]. - The Beidou navigation system is undergoing a significant upgrade cycle, which is expected to enhance its market prospects in both military and civilian applications [28]. 4. Strategic Collaborations - The company has established a comprehensive partnership with China Mobile, focusing on the integration of Beidou technology with 5G applications and low-altitude infrastructure development [3][4]. 5. Profit Forecast and Valuation - The report adjusts profit forecasts for 2024-2026, estimating net profits of 755 million, 1.045 billion, and 1.297 billion yuan respectively, with corresponding earnings per share (EPS) of 0.30, 0.42, and 0.52 yuan [3][4].

[Table_MainInfo] 公司研究/机械工业/航空航天与国防 证券研究报告 海格通信（002465）公司研究报告 2024 年 09 月 23 日 [Table_InvestInfo] 投资评级 优于大市 首次 覆盖 | --- | --- | |---------------------------------------------------|-------------| | 股票数据 | | | 09 [ Table_StockInfo 月 23 日收盘价（元） ] | 8.68 | | 52 周股价波动（元） | 8.06-14.01 | | 总股本 / 流通 A 股（百万股） | 2482/2432 | | 总市值 / 流通市值（百万元） 市场表现 | 21542/21107 | | [Table_QuoteInfo] | | -21.64% -11.64% -1.64% 8.36% 18.36% 28.36% 海格通信 海通综指 | --- | --- | --- | --- | |--------------------------|--------|--------|-------| ...

证券代码：002465 证券简称：海格通信 公告编号：2024-047 号 广州海格通信集团股份有限公司 关于全资子公司签订项目合同暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、关联交易概述 1．广州海格通信集团股份有限公司（以下简称"公司"）全资子公司广东海 格怡创科技有限公司（以下简称"海格怡创"）与广州信息投资有限公司（以下简 称"广州信投"）签订项目合同，海格怡创与广州市市政工程设计研究总院有限公 司（以下简称"广州市政设计院"）组成的联合体为广州市市政道路合杆整治试点 项目（设计、施工、设备采购及安装）总承包的中标单位，项目内容为完成项目 的设计、设备采购及安装、施工，合同总金额为 16,864.0224 万元，其中海格怡创 合同金额为 16,097.9424 万元，广州市政设计院合同金额为 766.08 万元。 2．广州信投为公司控股股东广州数字科技集团有限公司（以下简称"广州数 科集团"）全资子公司，根据《深圳证券交易所股票上市规则》6.3.3 条规定，广州 信投为公司关联法人，本次交易构成关联交易。 3．公司第六届董事会 ...

证券代码：002465 证券简称：海格通信 公告编号：2024-046 号 广州海格通信集团股份有限公司 第六届董事会第二十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 广州海格通信集团股份有限公司（以下简称"公司"）第六届董事会第二十 一次会议于 2024 年 9 月 23 日以通讯方式召开。本次会议的召开事宜由公司董事 会于 2024 年 9 月 19 日以书面通知、电话、电子邮件等方式通知公司全体董事及 其他列席人员。公司 9 名董事全部参与表决。本次会议的召集、召开和表决程序 符合《公司法》及《公司章程》的有关规定。 与会董事经认真审议，对以下事项进行了表决，形成董事会决议如下： 一、 审议通过《关于全资子公司签订项目合同暨关联交易的议案》 董事会同意公司全资子公司广东海格怡创科技有限公司（以下简称"海格怡 创"）和广州市市政工程设计研究总院有限公司（以下简称"广州市政设计院"） 组成的联合体，与关联方广州信息投资有限公司签订广州市市政道路合杆整治试 点项目（设计、施工、设备采购及安装）总承包项目合同，合同总金额为 16,864.0 ...

中信证券股份有限公司 关于广州海格通信集团股份有限公司 全资子公司签订项目合同暨关联交易的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为广州海 格通信集团股份有限公司（以下简称"海格通信"或"公司"）2023 年度向特 定对象发行 A 股股票的保荐人，根据《深圳证券交易所股票上市规则》《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等有关规 定，对海格通信全资子公司签订项目合同暨关联交易事项进行了核查，核查情况 如下： 一、关联交易概述 公司全资子公司广东海格怡创科技有限公司（以下简称"海格怡创"）与广 州信息投资有限公司（以下简称"广州信投"）签订项目合同，海格怡创与广州 市市政工程设计研究总院有限公司（以下简称"广州市政设计院"）组成的联合 体为广州市市政道路合杆整治试点项目（设计、施工、设备采购及安装）总承包 的中标单位，项目内容为完成项目的设计、设备采购及安装、施工，合同总金额 为 16,864.0224 万元，其中海格怡创合同金额为 16,097.9424 万元，广州市政设计 院合同金额为 766.08 万元。 广州信投为公司控股股东广州数字科技集团 ...

Investment Rating - The report assigns a "Buy" rating for the company, Haige Communication [1]. Core Viewpoints - Haige Communication is a leading enterprise in defense informationization, with a strong focus on wireless communication and BeiDou navigation, benefiting from the ongoing demand for military wireless communication in China [3][4]. - The company has established a comprehensive layout in the BeiDou navigation sector, achieving a full industry chain from chips to systems, and is positioned to benefit significantly from the upcoming replacement cycle of BeiDou equipment [3][4]. - The strategic placement of directed share placements aims to enhance capabilities in "BeiDou + 5G" integration, unmanned information industries, and satellite internet, indicating a proactive approach to emerging business opportunities [3][4]. Summary by Sections 1. Military Communication and Navigation Leader - Haige Communication has evolved from a single-purpose manufacturer to a comprehensive provider in military communication, covering a wide range of products and frequencies [11][13]. - The company is well-positioned to capitalize on the accelerating pace of national defense informationization, which is crucial for modern warfare [28][31]. 2. Wireless Communication - The military communication market in China is expected to grow significantly, with a compound annual growth rate exceeding 12% over the past decade, driven by increased defense spending on information technology [38][40]. - Haige Communication's products cover all frequency bands and are widely used across various military branches, showcasing its strong market position [41][43]. 3. BeiDou Navigation - The completion of the BeiDou-3 satellite system marks the beginning of a significant replacement cycle for ground navigation equipment, which is expected to drive demand from special institutions [49]. - The BeiDou navigation market is expanding rapidly, with applications in various sectors, including transportation and public safety, contributing to the overall growth of the satellite navigation and positioning services industry [45][47]. 4. Financial Forecast and Valuation - The company is projected to achieve net profits of 741 million, 1,028 million, and 1,309 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 28, 20, and 16 [2][4]. - The revenue growth trajectory indicates a stable increase, with total revenue expected to rise from 6,449 million yuan in 2023 to 10,274 million yuan by 2026 [2][4].