和而泰：子公司的T/R芯片已批量应用于星载、地面、机载等相控阵雷达及卫星通信等领域

Core Viewpoint - Heertai (002402) has reported significant growth in its subsidiary Chengchang Technology, which specializes in T/R chips used in phased array radar and satellite communication systems, indicating a recovery in downstream user demand and an increase in orders and projects [1] Company Summary - Chengchang Technology's T/R chips are now being mass-produced and applied in various fields including spaceborne, ground, and airborne phased array radar and satellite communications [1] - The company achieved a revenue of 306 million yuan and a net profit of 90.36 million yuan in the first three quarters of 2025, reflecting strong operational performance [1] - Chengchang Technology maintains a leading position in the domestic market for phased array T/R chip development and production, collaborating closely with downstream users [1] Industry Summary - The T/R chip is a critical component of phased array systems, characterized by high integration, complex structure, and stringent performance parameters [1] - In China, the primary entities capable of developing and mass-producing phased array T/R chips are research institutes and a few private enterprises with tier-three and tier-four supporting capabilities [1] - Chengchang Technology has developed multiple new products targeting next-generation low-orbit communication satellites and ground support equipment [1]