Group 1: Report Basic Information - The research object is Ciskray, belonging to the electronic components industry. The reception time was September 23, 2025. The company's reception staff included the chairman, general manager, board secretary, financial controller, and independent director [16] - The investors who participated in the company's 2025 semi - annual performance briefing online were among the institutions participating in the research [19] Group 2: Company Performance and Business Highlights - In the first half of 2025, Ciskray achieved an operating income of 101 million yuan, a year - on - year increase of 81.76%. The net profit was 3.5842 million yuan, an increase of 6.053 million yuan compared with the same period last year, achieving a turnaround from loss to profit [23] - The core drivers of the significant increase in operating income were the recovery of the military industry's overall demand and the company's remarkable market expansion results [25] - The company adheres to the development strategy of "building a first - class reliability service platform in China, focusing on long - term development, and building a second growth curve" [23][29] Group 3: R & D and Innovation - In the reporting period, the R & D investment was 10,745,799.18 yuan. The number of testing items recognized by CNAS and DILAC increased to 2,580, a year - on - year increase of 28.7% [24] - The company added 1 utility model patent and 24 software copyrights. As of June 30, 2025, it had more than 46,000 sets of test program software and more than 26,000 sets of test adapters, with the number of test programs increasing by 17.9% and the number of test adapters increasing by 8.3% year - on - year [24] - The company had 292 software copyrights and 90 patents, including 39 invention patents, leading among private testing institutions in the industry [25] Group 4: Business Layout in Commercial Space - Ciskray actively promotes the construction of experimental environments for aerospace - related equipment, increases R & D investment and external cooperation in satellite and chip testing, and aims to build a full - industrial - chain base for reliability [25] - The company plans to form a business model with three parallel businesses: military electronic component testing, aerospace satellite testing, and chip testing [25] - The company's wholly - owned subsidiary, Hainan Guoxing Feice, won the right to use state - owned construction land in Wenchang City in March 2025 for the construction of the Ciskray Testing and Reliability Wenchang Engineering Center. It is expected to start generating production capacity in the second half of 2026 [27] - The project in Hainan Guoxing Feice is progressing smoothly. It is planned to invest 400 million yuan to build five leading domestic aerospace testing centers. It is expected to initially form testing capabilities by the end of 2026 and gradually reach full production relying on the "Hundred Rockets and Thousand Satellites" plan [28] Group 5: Company Management and Other Aspects - After the company was punished by the CSRC, it quickly carried out internal rectification, optimized business processes, and strengthened the construction of the compliance management system [29] - In July 2025, the company jointly established a commercial space industry innovation center with 30 other enterprises in Wenchang International Aerospace City [29] - The company strengthens quality control in the detection process, holds regular "quality review meetings", and trains employees' quality management awareness [31] - The company pays attention to the development of AI - related technologies and conducts technical reserves for the testing methods required by new chips [31] - The company strengthens the construction of the R & D team through external recruitment and internal training, and establishes an incentive mechanism to attract and retain talents [31][32]
思科瑞分析师会议-20250923
Dong Jian Yan Bao·2025-09-23 14:15