慧智微新：新一代5GMMMB产品已在海外实现批量出货

Group 1 - The company has successfully achieved mass shipments of its new generation small-sized, high-power 5GMMMB products to overseas Android clients, receiving customer recognition [2] - In Q1 2025, the company's gross profit improved significantly due to product structure optimization and a decrease in procurement costs, with expectations for further performance enhancement as Phase8L L-PAMiD products ramp up [2] - The Phase8L product has already achieved large-scale production with leading clients, making the company one of the first in China to have this production capability [2] Group 2 - The company has proactively built a domestic supply chain over the years, collaborating with local wafer manufacturers and enhancing supply chain security through diversified channels [2] - The company focuses on the evolution of RF front-end technology, promoting product iterations around 3GPP standards, and has also ventured into Wi-Fi and satellite communication fields [2] - The company is actively exploring market opportunities in emerging industries such as low-altitude economy and robotics, forming specialized teams for technological research [2] Group 3 - The company's core strategy is to expand brand clients by introducing more self-developed projects to drive gross margin recovery [3] - The domestic substitution window is accelerating due to the strategic retreat of overseas manufacturers and tariff policy adjustments, with the Phase8L product's technological breakthroughs enhancing customer loyalty and attracting new clients [3] - The company aims to increase its penetration rate within mainstream brand supply chains through these strategies [3]