北方华创：NDR takeaways: Expanding product portfolio to reinforce domestic SME leadership-20250521

21 May 2025 CMB International Global Markets | Equity Research | Company Update Naura Technology (002371 CH) NDR takeaways: Expanding product portfolio to reinforce domestic SME leadership We held an NDR with Naura yesterday. The company's new orders rose by ~25% YoY in 2024 driven by strong IC orders, and the momentum continued in 1Q25. It expects no material impact from geopolitical tensions (i.e., the entity list) with new bookings expected to grow at a similar rate this year. The company is proactively ...