TONGYU(SZ:002792) Xin Lang Zheng Quan·2025-11-19 10:18Core Insights - Tongyu Communication is a leading enterprise in the communication antenna and RF device sector, focusing on the development, production, and sales of base station antennas, RF devices, and microwave antennas, providing comprehensive solutions for global mainstream mobile communication operators and equipment integrators [2] Company Overview and Strategic Direction - The company has established a strong position in the market, covering 2G to 5G network standards, with domestic clients including China Mobile, China Telecom, and China Unicom, and international partners such as Ericsson, Nokia, and Samsung [2] - As of June 2025, the company holds over 700 authorized patents in the RF communication field, indicating a robust commitment to technology research and development [2] - The strategic focus is on a dual-driven approach of "communication antennas + satellite communication," accelerating research into 6G and low-orbit satellite internet [2] Core Business Progress - In the satellite communication sector, the company has established a comprehensive product system covering the entire "star-ground-end" chain, with significant advancements in low-orbit satellite applications [3] - The company is actively involved in the development of ground station terminals, satellite communication payloads, and terminal applications, with a focus on dynamic antennas for high-speed communication services [3] - The filter business is primarily export-oriented, with a stable customer base including Ericsson, while the microwave antenna products are designed for high-performance point-to-point transmission in complex electromagnetic environments [4] MACRO WIFI Product Development - The MACRO WIFI products are designed for open areas, featuring long-range coverage and high concurrent access capabilities, with successful partnerships established in Australia and ongoing product certification in approximately 18 countries [5] Future Outlook - The company is optimistic about the future of its satellite communication business, anticipating continued market competitiveness and participation in national satellite internet infrastructure development over the next three years [6] - Long-term prospects include the integration of satellite communication with emerging low-altitude economies, with expectations that prior investments in technology and capacity will translate into actual orders and performance contributions [7]