（编辑 姚尧） 证券日报网讯 2月1日，海格通信在互动平台回答投资者提问时表示，公司重视与投资者的互动交流， 认真对待互动易投资者提问，本着审慎、公平原则，严格履行内部程序后予以回复。欢迎投资者通过热 线电话（号码：020-82085571）与公司开展即时沟通。 ...

Core Viewpoint - The company emphasizes the importance of anti-jamming technology in satellite navigation applications across various critical industries, highlighting its proprietary technology and future development plans [1] Group 1: Company Technology - The company possesses a complete set of anti-jamming technologies, including various algorithms and hardware solutions [1] - It has designed anti-jamming RF and baseband chips, providing a competitive edge in performance and cost [1] Group 2: Future Development - The company plans to develop higher-performance anti-jamming solutions targeting new signal systems [1] - It aims to create lower-cost solutions for industry and civilian users, promoting the widespread adoption of anti-jamming technology across different sectors [1]

Core Viewpoint - The company is focusing on developing inter-satellite laser communication technology to address data transmission bottlenecks in satellite networks, which is essential for building a high-speed, real-time satellite internet [1] Group 1 - The company is currently working on breakthroughs in core technologies related to inter-satellite laser communication [1] - The goal is to accelerate the development of high-capacity and highly reliable inter-satellite laser communication products [1] - The company aims to achieve industrial application of these technologies as soon as possible [1]

Group 1 - The company is actively monitoring the technical needs of aerospace central enterprises and is open to multi-level cooperation [1] - The company aims to choose a development path suitable for its growth while leveraging business capabilities and resource advantages in respective fields for mutual development [1] - The focus is on achieving win-win outcomes through collaboration [1]

Core Viewpoint - The company has been investing in research and development of phased array antennas for high-orbit satellite communication since the Tiantong-1 satellite era, and has expanded its focus to low-orbit satellite communication antennas, enhancing its product offerings and user experience [1] Group 1 - The company has developed phased array antennas for high-orbit satellite communication since the Tiantong-1 satellite period [1] - The company has expanded its capabilities to include low-orbit satellite communication antennas, which are now effectively applied in various terminal products [1] - The company aims to further reduce costs and improve efficiency while developing a series of products to enhance user experience and broaden application scope [1]

Core Insights - The integration of communication and navigation (通导融合) is identified as a key pathway to enhance national spatiotemporal information service capabilities in the context of the accelerating global aerospace information industry [1] - The Beidou Navigation System is highlighted as a crucial space infrastructure providing high-precision PNT (Positioning, Navigation, and Timing) services, while low Earth orbit satellite systems offer advantages such as low latency, high bandwidth, and global coverage [1] - The deep integration of Beidou and low Earth orbit satellite systems is becoming the core direction for the development of the aerospace information industry [1] Company Strategy - The company has achieved a comprehensive layout across the entire industry chain in the Beidou navigation field, including "chips, modules, antennas, terminals, systems, and operations" [1] - It is positioned as a leader in the "Beidou + 5G" application, focusing on the integration of "Beidou + 5G" technology and the transformation of key results [1] - The company is actively expanding into various industry markets such as transportation, electricity, petrochemicals, forestry, emergency services, and fisheries, as well as consumer and IoT application fields [1] Market Expansion - The company has successfully broken into multiple industry applications and national major engineering projects, paving the way for the application of Beidou spatiotemporal big data in smart city initiatives [1] - There is a proactive approach to international market expansion, with efforts to broaden customer resources and fully explore the potential of various business segments [1]

（编辑 姚尧） 证券日报网讯 2月1日，海格通信在互动平台回答投资者提问时表示，在地面终端的小型化、低功耗方 面公司核心能力是打造核心通信芯片，以及终端天线的小型化设计。目前已经完成了窄带芯片设计定 型，启动量产工作。今年将进一步拓展宽带芯片，年内将开展流片。后续还将投入更多的研发力量，研 制出更多符合产业发展的芯片，赋能卫星和地面产品。 ...

证券日报网讯 2月1日，海格通信在互动平台回答投资者提问时表示，在国家着力实现集成电路全产业 链突破的背景下，公司的自主可控工作覆盖了设计、封装测试到应用验证的关键环节，能够自主完成从 芯片设计、材料制备到封装测试的全流程，已系统性地建立了从电路设计到最终应用验证的完整内控能 力。通过持续的材料、工艺与设计优化，不断提升芯片在极端条件下的可靠性表现，确保产品能够满足 严苛场景应用需求。 （编辑 姚尧） ...

Investment Rating - The report provides a recommendation for the technology sector, specifically highlighting key stocks for February 2026 [6]. Core Insights - The report identifies several companies across different segments of the technology industry, including electronics, communications, computing, and media, suggesting a diversified investment approach [6]. - Key companies recommended include: - Electronics: Dongshan Precision, Lanke Technology - Communications: Wolong Materials, Haige Communications - Computing: Zhongkong Technology, Haiguang Information - Media: Kaiying Network, Giant Network [6]. Summary by Category Electronics - **Dongshan Precision**: Positioned for growth due to AI technology advancements, with a focus on optical communication and PCB sectors. The acquisition of Solstice Optoelectronics enhances its market position [9]. - **Lanke Technology**: Expected to benefit from the growth in AI servers and memory interface chips, with a projected increase in DDR5 penetration rates [10]. Communications - **Wolong Materials**: Strong in traditional materials and expanding into new energy products, with significant profit growth expected from 2025 to 2027 [10]. - **Haige Communications**: Focused on commercial aerospace and satellite communication, with anticipated profit recovery post-2025 [10]. Computing - **Zhongkong Technology**: Emphasizes industrial AI transformation, leveraging its self-developed industrial model TPT to enhance customer ROI and operational efficiency [11]. - **Haiguang Information**: A leader in high-end CPUs and DCUs, expected to see significant growth driven by domestic demand for AI computing [12]. Media - **Kaiying Network**: Anticipates new game launches in 2026, with a strong pipeline of products expected to drive revenue growth [13]. - **Giant Network**: Positive performance from existing games and new releases, with ongoing AI integration in gaming expected to enhance user engagement [13]. Financial Projections - The report includes earnings per share (EPS) and price-to-earnings (PE) ratios for the recommended companies, indicating expected growth in profitability from 2024 to 2027 [14].

Core Viewpoint - The company anticipates a net loss for the fiscal year 2025 due to various factors including industry adjustments, increased R&D investments, and expected impairment losses [1][2]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an expected net profit being negative [1]. - The company has communicated with its accounting firm regarding the performance forecast, and there are no discrepancies between the two parties [1]. Group 2: Reasons for Performance Changes - The primary reasons for the anticipated loss include delays in contract signing due to industry client adjustments and cyclical fluctuations, leading to reduced revenue [2]. - The company has invested approximately 930 million yuan in R&D to enhance its competitiveness in emerging fields such as chips, satellite internet, and 6G technology, which has increased expenditures [2]. - Expected sales and collections for 2025 did not meet projections, prompting the company to propose impairment losses of approximately 220 million yuan for goodwill and 250 million yuan for receivables [2]. Group 3: Strategic Initiatives - The company is actively pursuing market share and expanding into international markets while focusing on both military and civilian products [3]. - In the satellite internet sector, the company has achieved a full industry chain layout, including chips, terminals, and system operations [3]. - The company aims to enhance operational efficiency and economic benefits by targeting new production capabilities and military combat capabilities, while also expanding into civilian and international markets [3]. Group 4: Contract Overview - The company has signed a contract worth approximately 335 million yuan with a special institutional client, which is expected to positively impact revenue and profit [7][14]. - The contract involves wireless communication and Beidou navigation products, and it is expected to account for 6.81% of the company's audited revenue for the most recent fiscal year [11][14]. - The execution of the contract will not affect the company's business independence, as it will not create dependency on the counterparty [16].