NNCC(SH:600435) Jin Rong Jie·2025-07-04 01:18Core Viewpoint - The company, Beifang Navigation, has experienced significant growth since its listing in 2003, with its market value increasing from 1.18 billion to 21.22 billion, but recent years have shown a decline in both revenue and profit [1][3][5] Group 1: Business Overview - Beifang Navigation's main business is in the military manufacturing industry, with core products categorized into dual-use military and civilian products, which account for 97.89% of revenue [3] - The company achieved a net profit attributable to shareholders of 0.27 billion in its first year and 0.59 billion in the latest fiscal year, marking a cumulative profit growth of 118.57% over 22 years [3] - In the last five years, the company's profitability has shown significant volatility, with a 69.29% year-on-year decline in net profit for 2024 [3] Group 2: Revenue Analysis - Beifang Navigation's revenue was 3.006 billion in 2020, decreasing to 2.748 billion in 2024, reflecting a trend of first increasing and then decreasing revenue over the past five years [3] - The revenue for 2024 saw a year-on-year decline of 22.91% [3] Group 3: Market Value and Stock Performance - Since its listing, Beifang Navigation's market value has increased by 16.99 times, indicating long-term investment value [5] - The peak market value reached 48.664 billion on May 27, 2015, with a stock price of 65.35, but as of July 3, the market value has decreased to 21.221 billion, representing a loss of 27.442 billion or 56.39% from its peak [5]