调研速递|广东新劲刚接受22家机构调研 剖析业绩下滑与业务布局要点

Core Insights - Guangdong Xinjingang Technology Co., Ltd. held a significant investor research event on October 15, 2025, attended by 22 institutions, including the Foshan Listed Companies Association and China International Capital Corporation [1] Group 1: Event Details - The investor relations activity was categorized as a specific audience research and on-site visit, conducted in the multimedia conference room of Guangdong Xinjingang Technology Co., Ltd. The reception team included the board secretary Zhou Yibo and the investor relations director Wang Chong [2] Group 2: Financial Performance Analysis - During the Q&A session, institutions inquired about the reasons for the decline in the company's financial data for the first half of 2025. The company explained that the decrease in revenue was primarily due to concentrated demand from downstream customers disrupting production plans and capacity allocation, along with delays in material delivery from upstream suppliers. Although the second quarter revenue increased by 145.56% compared to the first quarter, it still decreased by 20.03% year-on-year, with total revenue for the first half of 2025 at 162.14 million yuan, a 41.01% decline from the previous year. Additionally, the slow payment processes from downstream customers led to a significant increase in credit impairment losses, resulting in a net profit of 7.60 million yuan, down 90.34% year-on-year [3] Group 3: Civilian Sector Strategy - The company is actively advancing its military-civilian integration strategy. Its RF power amplifier products have entered the C919 industrial chain with small batch deliveries. The establishment of Guangdong Kaiji Intelligent in July 2024 focuses on promoting RF microwave technology in civilian sectors such as low-altitude economy and satellite internet. In the new energy vehicle thermal management sector, the company has delivered samples, but future market performance will depend on industry demand and customer collaboration [4] Group 4: Accounts Receivable Situation - The company addressed the increase in accounts receivable and slow payment issues, attributing them to short-term changes in the specialized application sector. The delays in customer settlements and payment cycles are influenced by industry adjustments and cyclical fluctuations. However, the company's main clients are reputable large research institutions and manufacturers, indicating good quality of accounts receivable with low bad debt risk. The company plans to enhance customer tracking and communication to optimize management mechanisms for faster payment recovery [5] Group 5: Low-altitude Economy Business Progress - In the low-altitude economy sector, the company has won a bid for a micro-target detection radar project with a state-owned listed company in Shenzhen and is advancing equipment installation and delivery. Kaiji Intelligent has signed a strategic cooperation agreement with a drone system developer in Guangzhou to jointly develop drone countermeasure products. The company is also actively addressing low-altitude security needs in the Guangdong-Hong Kong-Macao Greater Bay Area. In the short term, the company will increase R&D investment and accelerate the transformation of technological achievements, aiming to establish a stable market share in the region and become a core supplier of RF microwave technology and solutions [6]