证券代码：002792 证券简称：通宇通讯 公告编号：2025-026 广东通宇通讯股份有限公司 关于控股股东、实际控制人部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广东通宇通讯股份有限公司（以下简称"公司"）于近日接到公司控股股东、 实际控制人吴中林先生的通知，获悉其所持有公司的部分股份已办理质押手续， 具体事项如下： | 股东名称 | 是否为控股 股东或第一 | 本次质押股份 | 占其所持 | 占公司总 | 是否为 | 是否为 补充质 | 质 押 起 始 | | 质押到 | | 质权人 | 质押用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 大股东及其 一致行动人 | 数量（股） | 股份比例 | 股本比例 | 限售股 | 押 | 日 | | 期日 | | | 途 | | 吴中林 | 是 | 7,220,000 | 5.29% | 1.38% | 否 | 否 | 2025 5 | 年 | 2026 5 | ...

Group 1 - The core viewpoint is that the advancement of 5G-A technology is creating new opportunities for companies in the industry as it transitions from 5G to 6G, with significant improvements in speed and latency [1][2] - 5G-A can achieve peak speeds approximately 10 times faster than 5G and has ultra-low latency in the millisecond range, with a nationwide rollout expected in major cities by 2024 [2] - The transition to 5G-A is anticipated to take about five years, with the industry consensus suggesting that 6G commercialization may occur around 2030 [2] Group 2 - The 5G-A industry chain includes upstream components such as chips, antennas, and optical modules, while downstream focuses on application services [3] - Companies like Guangdong Tongyu Communication have begun small-scale deliveries of 5G-A integrated antennas, aiming to enhance product performance and delivery efficiency [3] - In the downstream sector, innovative applications of 5G-A are being developed, such as a monitoring project for offshore vessels with a sensing range exceeding 20 kilometers [4] Group 3 - The potential applications of 5G-A span various fields including low-altitude economy, smart cities, remote healthcare, and autonomous driving, with significant implications for urban management and industrial control [4] - Companies are encouraged to seize market opportunities and invest in core technology research and development to drive the growth of the 5G-A industry [4]

广东通宇通讯股份有限公司（以下简称"公司"）已于2025年4月26日在巨潮资 讯网披露了公司《2024年年度报告》及《2024年年度报告摘要》。 为便于广大投资者更加深入全面地了解公司的财务状况、经营情况及公司发展 规划，公司定于2025年5月20日（星期二）15:00-17:00在全景网举行2024年度网上 业绩说明会，本次业绩说明会将采用网络远程的方式举行，投资者可登陆全景网"投 资者关系互动平台"（http://ir.p5w.net）参与本次业绩说明会。 公司出席本次业绩说明会的人员有：董事长（代行财务总监）吴中林先生、董 事会秘书黄华先生、独立董事曹瑜强先生。 证券代码：002792 证券简称：通宇通讯 公告编号：2025-025 广东通宇通讯股份有限公司 关于举行 2024 年度网上业绩说明会的通知 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。 特此公告。 广东通宇通讯股份有限公司董事会 二〇二五年五月十四日 为提升投资者交流的针对性，现就公司2024年度网上业绩说明会提前向投资者 公开征集问题，广泛听取投资者的意见和建议。投资者可于2025年5月 ...

证券代码：002792 证券简称：通宇通讯 公告编号：2025-025 广东通宇通讯股份有限公司 关于举行 2024 年度网上业绩说明会的通知 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。 广东通宇通讯股份有限公司（以下简称"公司"）已于2025年4月26日在巨潮资 讯网披露了公司《2024年年度报告》及《2024年年度报告摘要》。 为便于广大投资者更加深入全面地了解公司的财务状况、经营情况及公司发展 规划，公司定于2025年5月20日（星期二）15:00-17:00在全景网举行2024年度网上 业绩说明会，本次业绩说明会将采用网络远程的方式举行，投资者可登陆全景网"投 资者关系互动平台"（http://ir.p5w.net）参与本次业绩说明会。 公司出席本次业绩说明会的人员有：董事长（代行财务总监）吴中林先生、董 事会秘书黄华先生、独立董事曹瑜强先生。 为提升投资者交流的针对性，现就公司2024年度网上业绩说明会提前向投资者 公开征集问题，广泛听取投资者的意见和建议。投资者可于2025年5月20日（星期二） 15:00前访问http://ir.p5w.ne ...

Investment Rating - The report maintains an "Outperform" rating for the telecommunications industry [2] Core Viewpoints - The report suggests that the long-standing trade friction between China and the U.S. may ease, leading to potential benefits for the Chinese industry [10][11] - It highlights that Chinese manufacturers are becoming indispensable in the international supply chain, particularly in the IoT module market and AI hardware supply [11] - The report anticipates adjustments in AI chip export restrictions, which could alter the competitive landscape in the AI sector [12][13] Summary by Sections Investment Strategy - **U.S.-China Trade Relations**: The report indicates that U.S.-China negotiations may begin, with expectations of tariff reductions, particularly on the current 145% tariffs imposed by the U.S. [10] - **Chinese Industry Benefits**: It notes that Chinese firms dominate the global IoT module market, holding over 50% market share among the top three manufacturers [11] - **AI Chip Export Regulations**: The report discusses potential relaxations in AI chip export restrictions by the U.S., which could significantly impact American companies, especially in the context of the growing Chinese AI market projected to reach $50 billion [12][13] Industry News - **Low-altitude Economy in Wuhan**: Wuhan plans to establish 1,000 low-altitude takeoff and landing sites, aiming for a 20% increase in the low-altitude economy [14] - **Alibaba's ZeroSearch**: Alibaba has open-sourced the ZeroSearch model, significantly reducing costs by over 87% while enhancing search capabilities [15] - **Starlink in India**: Starlink has received approval to provide satellite communication services in India, which may accelerate satellite internet development globally [16] - **Shenzhen's 5G Network**: Shenzhen is constructing a comprehensive "5G + millimeter wave + satellite" network, aiming for full coverage and improved infrastructure [17] Weekly Review and Focus - **Market Performance**: The telecommunications sector saw a slight increase of 0.02%, underperforming compared to major indices, with notable gains in optical modules and low-altitude economy sectors [18][21] - **Investment Recommendations**: The report suggests focusing on companies involved in the overseas supply chain, such as Yiyuan Communication and Industrial Fulian, as well as long-term attention on major telecom operators and infrastructure providers [22]

Group 1 - The 5.5G concept is gaining traction, with companies like Wuhan Fangu and Shobei De seeing significant stock price increases due to their involvement in 5.5G technology and products [1] - Wuhan Fangu's products, such as multi-frequency multi-channel filters, are already being applied in 5.5G systems, leading to a stock price increase of 10.04% [1] - Shobei De has turned profitable and its antenna products are applicable in 5.5G networks, with a stock price rise of 7.68% [1] Group 2 - Recent reports indicate that users in Beijing are experiencing 5G-A signals, which are ten times faster than 5G, with testing networks deployed across 31 provinces in China [2] - Major telecom operators in China are investing heavily in 5G-A, with China Mobile planning to invest nearly 10 billion yuan to expand AI applications in wireless networks [3] - China Telecom and China Unicom are also pushing for 5G-A applications across various industries and key urban areas [3] Group 3 - During the 14th Five-Year Plan, China's 5G-A user base is expected to approach 1.3 billion, accounting for over 50% of the global total, enhancing digital transformation across industries [4] - 5G-A is seen as a significant upgrade to 5G, improving communication speed, connection density, latency, and positioning accuracy, paving the way for 6G technology [5] - The demand for dielectric waveguide filters is expected to rise due to their advantages in size, weight, and cost, benefiting the production of key components like antennas and filters [5] Group 4 - There is potential market growth in areas such as RedCap modules, integrated sensing, satellite communications, and XR, indicating a release of market space [6]

Group 1: Company Performance Overview - In 2024, the company achieved an operating income of approximately 119,400.24 million yuan, a year-on-year decrease of about 7.71% [2] - The net profit attributable to shareholders was approximately 4,138.51 million yuan, down about 49.00% year-on-year [2] - The net profit after deducting non-recurring gains and losses was approximately -165.63 million yuan, an increase of about 91.59% year-on-year [2] - In Q1 2025, the company reported an operating income of approximately 25,069.71 million yuan, a year-on-year increase of about 6.08% [3] - The net profit attributable to shareholders in Q1 2025 was approximately 1,118.20 million yuan, a year-on-year increase of about 128.26% [3] Group 2: Overseas Market Expansion - The company has established offices in regions such as the Belt and Road countries, Southeast Asia, and the CIS to enhance overseas market penetration [3] - In 2024, revenue from overseas markets reached approximately 43,593.01 million yuan, a year-on-year increase of 21.29% [3] - The company’s overseas business gross margin is higher than domestic due to the increasing proportion of microwave antennas in overseas operations [3] Group 3: Satellite Communication Business - In 2024, the satellite communication business generated revenue of approximately 4,280.02 million yuan, accounting for 3.58% of total operating income [4] - The company plans to increase R&D investment in satellite communication to enhance product performance and market share [5] - The company has successfully delivered products in the ground station terminal market and is focusing on expanding its presence in satellite communication [5] Group 4: 5G-A Integrated Antenna Business - The company has made significant progress in the 5G-A integrated antenna business, achieving small batch deliveries [5] - The business is expected to grow further with the implementation of low-altitude economy policies and related regulations [5]

Group 1: ZTE Information - ZTE Information has approximately 7,000 active users for SnapDevelop and plans to release a paid commercial version in the future [1] - EazyDevelop, which focuses on rapid development using AI technology, will support MCP calls and is set to launch a free trial version [1] - Baidao Software has made breakthroughs in RISC-V firmware and is collaborating with major companies like Huawei and Lenovo [1] Group 2: Boji Pharmaceutical - Boji Pharmaceutical's new orders for 2024 are projected to be 1.515 billion yuan, a year-on-year increase of 30.07% [2] - The company aims for a revenue target of 682 million yuan for 2025, with a focus on clinical business and technology transfer services [2] - The company is exploring AI applications in clinical trial processes and has seen a 20% growth in traditional Chinese medicine CRO orders [2] Group 3: Kehua Data - Kehua Data's revenue for 2024 is expected to be 7.757 billion yuan, a decrease of 4.71% year-on-year, with a net profit of 315 million yuan [3] - The intelligent computing center business has seen a revenue increase of 14.07%, while the new energy business revenue has decreased by 15.98% [3] - The company plans to enhance its intelligent computing center business and has completed a convertible bond project for future funding [3] Group 4: Tongyu Communication - Tongyu Communication's growth in the first quarter is attributed to increased overseas revenue and contributions from satellite communication [4] - The company is focusing on R&D in satellite communication and 5G integrated antennas, achieving significant results [4] - Future plans include targeting high-end markets and leveraging overseas advantages to assist domestic satellite manufacturers [4]

Summary of Tongyu Communication Conference Call Company Overview - **Company**: Tongyu Communication - **Industry**: Satellite Communication and Telecommunications Key Financial Highlights - In 2024, Tongyu Communication's net profit attributable to shareholders decreased by approximately 49% to 41.39 million yuan, while the net profit after deducting non-recurring gains and losses was approximately -1.66 million yuan, showing a year-on-year increase of 91.59% [2][3][4] - The operating revenue for 2024 was approximately 1.194 billion yuan, a decline of about 7.71% year-on-year [3] - In Q1 2025, revenue increased by 6.08% to 250 million yuan, and net profit attributable to shareholders surged by 128% to 11.18 million yuan [2][4] Business Performance - The overseas business revenue grew by 20.27% to 430 million yuan, with overseas revenue accounting for a historical high of 53% in Q1 2025 [2][4] - The satellite communication business generated revenue of 42.8 million yuan in 2024, contributing significantly to growth [3][13] Strategic Developments - Tongyu Communication is actively expanding its satellite communication full industry chain, having delivered 12 ground terminal projects and expecting more deliveries in 2025 [2][6] - The company has invested nearly 90 million yuan in R&D in 2024, accounting for nearly 10% of total revenue, focusing on satellite communication technologies [2][9] Market Position and Competitive Advantage - The company is the only listed firm collaborating with the top three satellite launch operators in China, which is expected to enhance its market share significantly [3][10] - In traditional business, Tongyu has improved antenna efficiency to 90% and is focusing on high-end markets in Europe, North America, and Japan while developing low-cost products for Southeast Asia and Belt and Road countries [5][12] Future Outlook - The company aims to leverage innovation to drive growth, focusing on 5G and 6G core technology breakthroughs while maintaining traditional business stability [8][15] - Plans include expanding into overseas markets, particularly in Europe and South America, and enhancing its presence in the low-altitude economy [8][15] Product Development and Innovations - New satellite communication products are expected to have a gross margin of around 40%, with most products exceeding 30% [13][14] - The company is developing new products like Micro Wi-Fi and Mark Wi-Fi, targeting both B2B and C2C markets, with positive responses from various international operators [20][22] Challenges and Risks - The domestic market is under pressure due to reduced capital investment from major operators, leading to a decline in business [5][9] - The cash flow from operations remains negative, although it has improved significantly from the previous year, primarily due to the longer revenue recognition cycle in satellite business [18] Conclusion - Tongyu Communication is positioned for growth in the satellite communication sector, with a strong focus on R&D and international expansion, despite facing challenges in the domestic market and cash flow management [2][5][8][18]

Core Insights - The company, Tongyu Communication, has garnered significant attention from over 80 institutional investors during an online research session, highlighting its core competitiveness in the communication sector [1] - The company reported a revenue of 1.194 billion yuan with a gross profit margin increase of 6.73 percentage points to 22.21% compared to the previous year, indicating strong operational performance [1] - The company is focusing on satellite communication as a key investment area, with plans to enhance its core competitiveness in this field [2][3] Financial Performance - In 2024, the company's satellite communication products generated revenue of 42.8002 million yuan, marking the beginning of returns on prior investments [3] - The overseas revenue reached 436 million yuan in 2024, representing a year-on-year growth of 20.27%, accounting for 36.51% of total revenue [4] - The gross profit margin for overseas revenue was 25.52%, significantly higher than domestic revenue margins [4] Research and Development - The company allocated approximately 96.0361 million yuan for R&D in 2024, which is 8.04% of total revenue, indicating a strong commitment to innovation [4] - As of December 31, 2024, the company holds 766 effective patents in the RF communication field, including 37 international patents and 232 domestic invention patents, positioning it as a leader in the industry [4] Strategic Direction - The company aims to build a comprehensive and forward-looking development strategy focusing on market demand and industry trends, particularly in 5G-A and satellite communication [5] - The company is leveraging China's manufacturing efficiency and global resource integration to reshape the competitive landscape of the global communication industry [5]