本公司保留追究其法律责任的权利市场有风险投资需谨慎各位投资者大家晚上好今天我来为大家分享我们近期发布的深度报告中科星途数字地球龙头布局商业航天全产业链那么今天的我将会从星途的这个基地机制内控管理 资本运作等多个角度来分析公司近年来稳健高速增长的成长路线并且会结合Google Earth和Palantir Technologies的海外案例来分析公司未来进一步发展壮大的能力要素那么在整个结构上来看我们将分为首先是公司的产业链地位公司的主营业务 以及目前的行业的这个策划因素以及现在公司的两大成长曲线和海外案例的对标最后会包括我们的盈利预测和风险提示部分首先要先给各位投资者汇报一下我们的核心观点其实商业航天从2023年的10月份以来整个市场其实比较偏向于关注整个低轨通向卫星的制造环节但是其实商业航天它涵盖了 卫星的通信卫星导航和卫星的摇杆三大板块那么中科星图就属于卫星摇杆应用环节的龙头企业星图从20年的1月份一季度开始也是正式向上游的星座方向进行布局可以说星图有望逐步打开商业航天的上中下游全产业链从公司近年来的业绩表现上来看 19到23年公司的营收从4.9亿元增长到25.2亿元4年复合增速达到了50.6%规模增利润 ...

Summary of the Conference Call for China Star Map Company Company Overview - China Star Map Company is a subsidiary of the Chinese Academy of Sciences Aerospace Institute, primarily engaged in satellite operations, especially in remote sensing applications. The company operates in both special and civilian sectors, with special applications accounting for 70% and civilian applications for 30% of its business [4][6][10]. Strategic Directions - The company has two main strategic directions: 1. Establishing a full commercial space industry chain. 2. Data layout for related applications, leveraging resources from the Aerospace Institute to launch multiple satellite constellations [4][6]. - The company aims to build a global measurement and control network, operational service centers, and a space information cloud platform [4][6]. Financial Performance and Growth Projections - Over the past eight years, China Star Map has maintained high growth, driven by increased national investment in military information technology and enhanced market positioning capabilities [7]. - The profit target for 2024 is set at 7.7 billion yuan, representing a 40% year-on-year increase from the current profit of approximately 5.5 billion yuan. This growth is attributed to core positioning in the special sector, rapid expansion in the civilian market, and performance improvements from mergers and acquisitions [9][10]. Mergers and Acquisitions Strategy - The company employs a "horse racing" mechanism to control and empower high-potential subsidiaries, with plans for gradual public listings of subsidiaries like Xingtong Measurement and Control [8][12]. - The expected market value of Xingtong Measurement and Control is projected to reach 5 billion yuan following its approval by the Beijing Stock Exchange [8]. Investment in Technology and Applications - Significant resources have been allocated to intelligence reconnaissance and open-source intelligence analysis, similar to the U.S. company Palantir, particularly in AI-driven knowledge graph applications and decision support [10][11]. - The company sees substantial growth potential in both defense information technology and civilian markets, indicating a robust long-term development outlook [10][12]. Shareholder Equity Management - To address potential dilution of shareholder equity from subsidiary listings, the company plans to repurchase and cancel shares, aiming to enhance earnings per share [11]. Conclusion - China Star Map Company is positioned for continued high growth through strategic investments in technology, a robust mergers and acquisitions strategy, and a focus on expanding its market presence in both military and civilian sectors. The company's proactive measures to manage shareholder equity further strengthen its investment appeal.

本次会议在任何情形下都不构成对会议参加者的投资建议相关人员应自主作出投资决策并自行承担投资风险国联证券不对任何人因使用会议内容而引致的任何损失承担任何责任未经国联证券事先书面许可任何机构或个人不得以任何形式 本公司保留追究其法律责任的权利 好尊敬的各位投资者大家下午好我是国联军工的吴爽然后欢迎大家参加我们国联证券2024年中期投资策略会的线上部分那今天呢我们是很荣幸的邀请了我们重点推荐的一家公司中科星图的这个张总过来给我们进行一个这个半年度的经营情况的线上交流那我们也 这个公司近期也发布了2024年的半年报的业绩预告2024年上半年的公司预计会实现营收10.5到11.5个亿同比增长45%到59%实现规模经营润5500万到6700万同比增长56%到90%左右这样的一个水平 好的 吴总各位投资人 大家中午好我想给各位投资人简单的汇报一下我们公司的一个情况吧 就是还是从我们这个现在的一个整体的产品线来说起就我们现在整个的这个产品呢现在主线条是分成了线上加线下两个部分然后这个线上这部分呢我们叫第二增长曲线 然后线下的这一部分呢,我不知道第一字哪去讲然后主要涉及的呢就是线上这一块我们其实设计的这个行业比较广目前应该都已 ...

中科星图 20240718_原文 白名单客户本次会议在任何情形下都不构成对会议参加者的投资建议，相关人员应自主做出投 资决策，并自行承担投资风险。国电证券不对任何人因使用会议内容而引致的任何损失承担任 何责任。未经国联证券事先书面许可，任何机构或个人不得以任何形式复制、刊载、转载、转 发、引用本次会议内容，否则，由此造成的一切后果及法律责任由该机构或个人承担，本公司 保留追究其法律责任的权利。 发言人 01:37 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 发言人 00:00 好，尊敬的各位投资者，大家下午好，我是国联军工的吴爽。然后欢迎大家参加我们国联证券 2024 年中期投资策略会的线上部分。今天我们是很荣幸的邀请了我们重点推荐的一家公司中科 星图的张总，过来给我们进行一个半年度的经营情况的线上交流。我们也这个公司近期也发布 了 2024 年的半年报的业绩预告。2024 年的上半年，公司预计会实现营收 10.5 到 11.5 个亿，同 比增长 45%到 59%，实现归母净利润 5500 万到 6700 万，同比增长 56%到 90%左右这样的一个水 平。下面我们先有请张总简单的给我们介绍一下 ...

Industry Investment Rating - The report does not explicitly provide an industry investment rating [1][2][3] Core Viewpoints - The 2024 "618" shopping festival saw a significant increase in sales across multiple platforms, with a focus on low-price strategies and enhanced user experience [5][6][7][9][10][12][15][17][18] - Platforms like Taobao, JD, and Douyin implemented various promotional strategies, including simplified rules, direct discounts, and AI-driven tools to boost sales and user engagement [7][12][14][15][16][17] - The competition among platforms intensified, with each striving to offer the lowest prices and best deals, leading to a highly competitive market environment [9][10][11] Platform Sales Performance - The total sales during the 2024 "618" shopping festival were substantial, with data covering over 20 platforms, 2565 categories, 90074 brands, and 20 million+ products [3][20] - Key platforms like Taobao, JD, and Douyin reported significant sales growth, with specific categories such as home appliances, beauty products, and pet food performing exceptionally well [20][26][30][38][40] Category Sales Overview - **Grain and Oil Seasoning**: Brands like Jinlongyu and Luhua dominated the market, with Jinlongyu holding a 48% platform share [26][27] - **Snacks**: Brands such as Three Squirrels and Liangpin Shop led the category, with Three Squirrels holding a 47% platform share [28][29] - **Beauty and Skincare**: International brands like Lancôme and Estée Lauder were prominent, but domestic brands like Proya and Chando also gained significant market share [30][31][32][33] - **Home Appliances**: Brands like Midea and Haier were top performers, with Midea holding a 28% platform share [40][41] Product Sales Momentum - Consumers showed a growing preference for healthy and high-quality products, with brands like Jinlongyu and October Fields gaining traction in the grain and oil category [42][43][44] - Domestic brands in the beauty and skincare sector, such as Proya and Chando, saw increased consumer trust and market share due to product upgrades and high-quality offerings [45][46][47] - Smart and health-focused home appliances, as well as high-quality pet food, were in high demand, reflecting a shift towards quality and health-conscious consumption [49][50][51] Marketing Dynamics - Platforms like Taobao and JD focused on simplifying shopping rules and enhancing user experience, with initiatives like direct discounts, AI-driven tools, and improved logistics [7][12][15][18] - Douyin and Kuaishou emphasized low-price strategies and extended promotional periods, with Douyin offering deep discounts and Kuaishou promoting a "618 every day" theme [17][18] - The introduction of AI tools, such as Taobao's AI bargaining assistant and JD's AI digital human live streaming, highlighted the increasing role of technology in driving sales [14][16]