四川25年单省将建设73部测雨雷达，重点推荐纳睿雷达

Investment Rating - Industry rating is maintained at "Outperform the Market" [1] Core Viewpoints - The report highlights significant advancements in Sichuan's hydrological infrastructure, with a total investment of 1.2 billion yuan in water conservancy projects during the "14th Five-Year Plan" period, marking a historical high [3][4] - The construction of 73 rain radar systems in Sichuan is expected to enhance the province's ability to respond to flood risks, with 41 systems planned for high-risk areas and 30 for medium-risk areas [3][4] - The report emphasizes the importance of a three-tiered monitoring and forecasting system, which includes meteorological satellites, rain radar systems, and hydrological stations, to improve flood warning accuracy and resource management [4] Summary by Sections Industry Overview - Sichuan, known as the "Province of a Thousand Rivers," faces frequent mountain flood disasters due to its complex terrain and developed water systems [4] - The province anticipates moderate to severe flooding during the current flood season, particularly in the northeastern basin and Longmen Mountain areas [4] Infrastructure Development - Since the implementation of the "14th Five-Year Plan," Sichuan has constructed 537 hydrological stations, including 368 rain gauge stations and 169 hydrological stations, with plans for further expansion [4] - The overall density of the hydrological station network has increased by 36.5% since the start of the "14th Five-Year Plan" [4] Investment Opportunities - The report recommends investing in "Nairui Radar," which focuses on multi-functional phased array radar technology, indicating strong growth potential in air traffic control and airport sectors [5] - The company is positioned to benefit from domestic demand for air traffic control equipment and the trend towards low-altitude economy policies [5]