Group 1 - The Ministry of Industry and Information Technology announced a list of pilot cities for the Beidou application, with Dali Prefecture being included among 39 cities from 22 provinces [1] - The "2025 Cross-Strait Smart City Seminar" was held in Dali, focusing on key areas such as urban management, smart manufacturing, IoT, green energy, and smart transportation [1][2] - The seminar aimed to build a high-level cooperation platform to promote deep integration of industrial chains, innovation chains, and talent chains [1][2] Group 2 - Key representatives from major companies and research institutions from both sides of the Taiwan Strait participated in the seminar, discussing core topics related to smart cities [2] - The Future Mobile Communication Forum emphasized the significant potential for cooperation in smart city construction between the two sides [2][3] - The seminar highlighted the current critical period for industrial transformation, driven by low-orbit communication, AI, and widespread data center construction [2] Group 3 - The Dali Research Institute aims to create a modern spatial foundation for smart city construction, leveraging the Beidou satellite navigation system [3] - Dali Prefecture is recognized for its unique natural resources and open business environment, making it an ideal location for smart city development [4] - The Dali Research Institute is positioned as a comprehensive research think tank and technology innovation platform, focusing on the application of Beidou technology in smart city construction [4] Group 4 - Dali's tourism industry is projected to attract over 110 million visitors in 2024, presenting new challenges for urban management and emergency services [5] - The Dali Research Institute and Zhongke Jingshang Technology Co., Ltd. are responding to these challenges by integrating Beidou technology with 5G, IoT, and big data to enhance urban services [5] - A real-time dynamic map based on Beidou technology is being developed to support Dali's goal of becoming a "Beidou Tourism City" [5][6] Group 5 - The Dali Research Institute's Beidou tourism map supports technological innovation and industrial application in high-traffic scenarios, extending its influence beyond Dali to Southeast Asia [6] - Xiangwang Technology, a leading company in slow transportation services, has developed smart electric vehicles based on local needs and the Beidou system [6][7] - The integration of smart city construction and Beidou applications is attracting high-end talent to Dali, fostering the rapid development of new intelligent industries [7]

Group 1: Company Overview and Financial Performance - The company focuses on high-precision navigation and positioning technology, developing a comprehensive product line that includes hardware and software solutions [2][3] - In 2024, the company achieved a revenue of ¥1,219,549,535.51, a year-on-year increase of approximately 2.80%, while the net profit attributable to shareholders was -¥12,449,794.70, reflecting a 97.08% increase compared to the previous year [3] - For Q1 2025, the company reported a revenue of ¥151,988,324.18, marking a growth of about 30.60% year-on-year [3] Group 2: Overseas Business Development - The company has been expanding its overseas market presence, primarily in Asia, South America, and Europe, benefiting from the "Belt and Road" initiative and the competitive pricing of domestic products [4][5] - In 2024, the company established a subsidiary in Hungary to serve as a technical and warehousing center for its European operations [4] - The company successfully won a government project in Uganda for geological disaster monitoring, marking its entry into the African market [4] Group 3: Competitive Advantages in Overseas Markets - The company has established a strong presence in 12 countries, localizing procurement, logistics, sales, and global technical services [5] - The demand for high-cost performance domestic equipment has significantly increased in overseas markets, particularly in regions along the "Belt and Road" [5] Group 4: Smart Driving and Navigation Control Applications - The company provides high-precision positioning products and solutions for various vehicles, including passenger cars and agricultural machinery [6][7] - In 2024, the smart driving business experienced a growth of approximately 40%, with over 60 vehicle models successfully integrating the company's products [8] - The company collaborates with major automotive manufacturers and technology partners to develop advanced positioning solutions for smart driving applications [8] Group 5: Marine Business and Product Offerings - The company offers a range of marine detection equipment, including single and multi-beam echo sounders and acoustic Doppler current profilers [8] - It has developed an integrated hydrological monitoring system that combines various technologies to provide comprehensive solutions for marine engineering and surveying [8]

Summary of TaiJing Technology Conference Call Company Overview - **Company**: TaiJing Technology - **Year**: 2024 - **Revenue**: 821 million (8.21 billion) CNY, a year-on-year increase of 3.55% [2][4] - **Net Profit**: Decreased due to price reductions, increased R&D investment, and other factors [2][5] Key Points and Arguments Financial Performance - **Revenue Growth**: 2024 revenue increased to 821 million CNY, with a notable 10% growth in Q1 2025 [2][4][11] - **Net Profit Decline**: 2024 net profit was 87.06 million CNY, a decrease compared to the previous year [4] - **R&D Investment**: Increased by 33%, approximately 10 million CNY, impacting net profit [2][5] Industry Position and Development - **Leading Technology**: Company is globally leading in chip development, collaborating with Qualcomm on 6G communication and AI applications [2][6] - **Automotive Market**: 2024 automotive market share was about 4%, expected to double to over 10% in 2025 [10] - **Product Development**: Over 2,000 part numbers developed in automotive semiconductor devices, focusing on various vehicle domains [8][9] Market Dynamics - **Supply Chain Focus**: Increased emphasis on domestic supply chains due to US-China relations, particularly in the server sector [2][7] - **AI and IoT Demand**: Rising hardware demand driven by AI applications and IoT, leading to increased orders [2][15] - **High-Value Products**: High-profit products like 156.25 MHz and above are performing well, with future contributions expected to grow [17] Competitive Landscape - **Pressure on Small Enterprises**: Current competition is pressuring small businesses, with many facing losses and potential market exit [12] - **Cost Management**: Company is managing rising material costs through precious metal reserves and optimizing processing technology [13][18] Future Outlook - **Growth Opportunities**: Strong demand in Q1 2025, particularly for K-type crystal oscillators and drone applications [15][16] - **Market Trends**: Anticipated growth in server-related products and light module markets, with significant demand expected in 2025 [22][23] - **AI Product Development**: Focus on AI products like smart glasses, with successful customer certifications achieved [24] Additional Important Insights - **Product Margin Stability**: Stable margins in kHz crystal oscillators and TC products, with expectations for improvement as production capacity increases [14] - **Management Strategies**: Active measures to manage operational costs and enhance product competitiveness [29] - **Investor Focus**: Investors should monitor product strength and the company's performance across market cycles [30]

Group 1 - The 9th Silk Road International Economic Forum will be held from May 21 to 25 at the Xi'an International Convention and Exhibition Center, focusing on "low-altitude economy" as the core theme [1] - The exhibition area covers 10,000 square meters with five themed exhibition areas, expected to attract over 200 participating companies and showcase more than 100 aircraft [1] - The low-altitude economic development achievements area will highlight policy support and industrial layout in low-altitude economy from Shaanxi and key cities across the country [1] Group 2 - The low-altitude safety technology area will showcase core technologies and equipment for low-altitude flight safety control, including communication navigation systems and meteorological monitoring equipment [1] - The typical application scenarios area will focus on practical applications of low-altitude economy in emergency rescue, medical assistance, logistics distribution, and geographic surveying [1] - The low-altitude flying vehicles and equipment area will gather cutting-edge flying vehicles and supporting technologies, emphasizing China's R&D capabilities in drones and smart aviation equipment [2] Group 3 - The low-altitude flight management area will focus on low-altitude traffic management systems and solutions, inviting experts to discuss the collaborative development of new infrastructure like low-altitude smart networks and Beidou applications [2] - The event aims to create a comprehensive participation pattern involving government, industry, academia, research, and application, with activities such as policy information release and project roadshows [2] - The exhibition will strengthen cooperation in the low-altitude economy sector through investment and financing matchmaking events [2]

Group 1: Business Focus and Development - The company focuses on high-precision navigation and positioning technology, with three core business segments: precise spatial perception equipment, Beidou high-precision industry applications, and intelligent driving and navigation control [3][5]. - The company aims to expand high-precision positioning technology applications in low-altitude fields and industrial robots, continuously exploring integration opportunities [4][6]. Group 2: Market and Product Strategy - The company has achieved approximately 30% domestic substitution rate in high-precision positioning equipment, with key products like positioning terminals and industrial-grade LiDAR being fully domestically produced [5][6]. - In 2024, the proportion of government project-related business has decreased to 13.79%, with a strategic shift towards high-precision positioning equipment and solutions that have better cash flow [6][9]. Group 3: International Expansion and Collaboration - The company has established branches in 12 countries, implementing localization strategies for procurement, logistics, sales, and global technical services [7][9]. - Collaborations with Baidu Apollo and Beijing Hangji focus on high-precision differential positioning solutions, with successful deliveries of 5G+V2X smart antennas and high-precision positioning antennas [7][8]. Group 4: Technological Advancements - The company emphasizes continuous investment in core technology research and development, maintaining a leading position in key technologies such as laser radar and inertial navigation [6][8]. - The company has successfully developed disaster monitoring and early warning devices, which have been deployed in over 20 provinces and regions across the country [8][9]. Group 5: Financial Performance and Projections - The intelligent driving business is projected to grow by approximately 40% in 2024, although it currently represents a small portion of the overall revenue [9].

Core Viewpoint - 中海达 reported a revenue of 1.22 billion yuan for 2024, marking a year-on-year growth of 2.80%, but still recorded a net loss of 12 million yuan, although this represents a significant reduction in losses by 97.08% compared to the previous year [1] Group 1: Financial Performance - The net profit attributable to shareholders has been negative for three consecutive years, with figures of -110 million yuan in 2022, -430 million yuan in 2023, and -12 million yuan in 2024 [1] - The decrease in losses in 2024 was attributed to cost optimization and partial business recovery, despite not achieving profitability [1] - The company’s non-recurring net profit was -90 million yuan, showing an increase in losses by 81.98% year-on-year [1] Group 2: Business Segments and Market Conditions - 中海达's main business includes precision spatial perception equipment, high-precision applications of Beidou, and intelligent driving and navigation control [1] - The traditional surveying equipment business has seen a continuous decline in revenue due to macroeconomic downturns, reduced infrastructure investment, and intensified industry competition [1] - Although the company has made inroads into emerging fields such as autonomous driving and marine exploration, the revenue contribution from these areas remains limited [1] Group 3: R&D and Competitive Landscape - The company has increased its R&D investment in high-precision positioning for autonomous driving, Beidou applications, and marine sonar detection, with R&D expenses accounting for approximately 11.7% of revenue, significantly higher than the industry average [2] - Despite high R&D spending, the lack of corresponding revenue growth has continued to pressure profits [2] - Competitor 华测导航 has been squeezing 中海达's market share due to better cost control and channel advantages, exacerbating the industry's price war and further weakening the company's profitability [2] Group 4: Investor Concerns - Due to three consecutive years of losses, some investors have raised concerns about potential "ST" risks for the company [2] - 中海达 has stated that it has not reached any conditions that would trigger delisting risk warnings as per the Shenzhen Stock Exchange's rules and emphasized its commitment to focusing on its core business and improving operational efficiency [2]