CONSYS(SH:688788) Dong Jian Yan Bao·2025-03-18 15:17Investment Rating - The report does not explicitly state an investment rating for the communication equipment industry or the specific company involved [1]. Core Insights - The communication equipment industry is experiencing a dual-driven demand from traditional equipment delivery acceleration and rapid development in emerging fields [17]. - The company, Shenzhen Kesi Technology Co., Ltd., has a significant first-mover advantage and deep technological accumulation in the electronic information industry, focusing on continuous R&D investment across various fields including AI and cloud computing [17]. - The company is actively pursuing intelligent and unmanned product trends, integrating AI, smart wireless communication, and virtual reality technologies into its offerings [17]. Summary by Sections 1. Basic Research Information - The research was conducted on March 13, 2025, focusing on Shenzhen Kesi Technology, which operates in the communication equipment sector [13]. 2. Detailed Research Institutions - Participating institutions included Ping An Fund, Southern Fund, Xinda Australia Fund, and Rongtong Fund, all of which are fund management companies [14]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [16]. 4. Main Content Information - The company was established in 2004 and listed on the Sci-Tech Innovation Board in 2020, emphasizing its commitment to R&D in various advanced technology fields [17]. - The company has established a complete chip R&D team and has made significant investments in chip development, with successful trials of its first-generation smart wireless communication baseband chip [17][19]. - R&D expenses are primarily composed of employee salaries, materials, depreciation, and design/testing fees, with a high proportion allocated to chip development [19].