Core Viewpoint - The 11th World Radar Expo showcases advanced technologies and products from China Electronics Technology Group Corporation (CETC), focusing on the theme of "Electromagnetic Intelligence for All, Innovation for the Future" [1] Group 1: Advanced Equipment - CETC presents over 100 types of electronic information equipment in the advanced equipment exhibition area, emphasizing the development of digital, networked, intelligent, and unmanned systems to create internationally competitive advanced equipment [2] - Various radar systems are displayed, including ballistic missile early warning radars designed for precise target identification and low-altitude target detection systems that operate independently of visibility conditions [4] Group 2: Digital and Intelligent Systems - The digital and intelligent systems exhibition area highlights CETC's capabilities in enhancing network information systems, promoting real-time integration, and accelerating independent innovation across the entire industry chain [5] - The "Smart Warrior" intelligent unmanned combat vehicle garners attention for its modular design, allowing for various operational configurations based on different mission requirements [7] Group 3: Low-altitude Economy - CETC actively engages in the low-altitude economy, focusing on air traffic management, key electronic equipment, and advanced regulatory systems, proposing a comprehensive low-altitude navigation system for safety and efficiency [8] - The low-altitude economic exhibition area features products such as meteorological drones and general aviation aircraft, with CETC holding a 90% market share in domestic flight training aircraft [10]

Group 1 - The 11th World Radar Expo officially opened in Hefei, Anhui, showcasing multiple advanced radar systems [1] - The expo features four main areas: intelligent electronic equipment and industrial chain, industry application, new generation information technology, and outdoor installation [3] - A variety of radar systems were displayed, including the P-band long-range early warning phased array radar, known as the "Sky Eye," capable of detecting threats over thousands of kilometers [5] Group 2 - The China Electronics Technology Group showcased over 400 advanced electronic information products, highlighting the advantages of China's military electronics industry and its information capabilities [7] - The expo covered military and civilian applications, providing high-precision data services for disaster warning, smart cities, and low-altitude economic development [9] - Since its inception in 2001, the World Radar Expo has become the largest and most influential international exhibition in the radar field, with over 600 global companies participating this year and an exhibition area exceeding 50,000 square meters [9]

龙虎榜机构热股 今天机构龙虎榜上榜27只个股，净买入14只，净卖出13只。当日机构买入最多的个股前三位是：天箭科技（1.53亿）、奥普光电（9902万）、拓斯达（8899 万）。 | 上榜热股 | 实时涨跌幅 | 买/卖家数 | 机材 | | --- | --- | --- | --- | | 天箭科技 002977.SZ | +10.00% | 3/0 | +1 | | 奥普光电 002338.SZ | -10.00% | 3/0 | +99 | 天箭科技 龙虎榜显示，3家机构净买入1.53亿。 公司是国内较早专注于高波段、大功率固态微波前端产品的研发、生产、销售以及进行产业化推广应用的民营企业之一，已掌握了固态微波前端技术应用的 多项核心技术，研发能力较强。高波段、大功率固态微波前端相关技术处于国内领先水平，形成了较为丰富的产品系列，可为客户提供全方位定制化解决方 案。目前产品已广泛应用于弹载、机载、星载、车载雷达系统。 证券时报表示，传闻称业内正计划由硅料行业排名前六厂商来收购剩余所有硅料产能，且某头部厂商提议减产挺价，并设置了挺价的目标区间。从业内人士 处了解到，确有厂商提出减产挺价方案。 京运通 个 ...

Investment Rating - The report maintains a recommendation for the radar military trade sector, indicating a positive outlook for investment opportunities in this area [1]. Core Insights - The report highlights the increasing focus on radar military trade due to international conflicts, particularly the recent India-Pakistan tensions, which have led to a surge in the military sector [4]. - The defense radar business is crucial for national security, with a growing global market size projected to reach $38 billion by 2025, of which the military radar market is expected to be $23.2 billion [10][13]. - The introduction of the "Export Control Regulations for Dual-Use Items" in China is expected to enhance the transparency and compliance of radar exports, benefiting the military trade sector [13]. - Recent high-value contracts signed at the Zhuhai Airshow reflect China's improving military trade capabilities, positively impacting airborne, vehicle-mounted, and ground radar development [16]. Industry Overview - The radar industry is categorized into military and civilian applications, with military radar being essential for tactical intelligence and precision strikes [5][6]. - Key players in the radar sector include companies like Guorui Technology, Sichuan Aerospace, and Nairui Radar, with Guorui Technology leading in revenue and profit margins [19][36]. - The report emphasizes the importance of low-altitude economy projects, with companies like Zongheng and Lais Information winning significant contracts, indicating the sector's growth potential [44][45]. Financial Performance - Guorui Technology reported revenues of 34 billion yuan in 2024, with radar-related business revenue at 26.7 billion yuan, showcasing its market leadership [19][20]. - The report provides a comparative analysis of radar companies, highlighting Guorui Technology's superior profit margins and revenue growth compared to its peers [19][36]. Market Trends - The Huachuang Transportation Low Altitude 60 Index has shown a significant increase of 5.4% in the past week, indicating a positive market sentiment towards the low-altitude economy [49]. - The report identifies three major application scenarios for the low-altitude economy from 2025 to 2027: new consumption in cultural tourism, manned transportation, and specialized uses [58].

Industry Overview - China's low-altitude economy is rapidly emerging, supported by policy and technological innovation, with a market size exceeding 500 billion yuan in 2023 and expected to reach 1 trillion yuan by 2026, reflecting a compound annual growth rate of 28% over three years [1] Company Developments - Companies listed on the Sci-Tech Innovation Board are proactively positioning themselves in the low-altitude economy, with nearly 20 firms engaging in discussions about industry trends and future plans during the "Sci-Tech Hot Industry Week" [1] - Zongheng Co. is accelerating the iteration of its JOS-C700 vertical take-off fixed-wing and JOS-C200 multi-rotor unmanned systems, integrating AI decision-making algorithms and edge computing to enhance multi-machine collaborative operations and intelligent task planning [2] - Narui Radar has developed the TDKFT0104 Ku-band dual-polarization active phased array radar, applicable in various fields such as traffic management and border protection, with potential expansions into coastal monitoring and airport bird control [2] - Lais Information has completed the development of its "Tianmu" low-altitude flight service guarantee products, aimed at connecting the industry chain and establishing a comprehensive low-altitude service system [2] Localization Efforts - Zongheng Co. has achieved over 90% localization in its drone production and is continuously working on domestic alternatives for key components to reduce import dependency [3] - Narui Radar's products have independent intellectual property rights, with core components and materials largely sourced domestically, ensuring self-control over core technologies [3] - Lais Information's supply chain is primarily localized, with imported products making up a small proportion of overall procurement [3] Market Opportunities - Companies are seizing opportunities in the expanding low-altitude economy, leveraging AI and new technologies for growth [4] - Zongheng Co. plans to focus on product diversification, operational intelligence, and scaling applications by 2025, while enhancing AI and large model technology applications [4] - Narui Radar is broadening its market reach, with products already utilized in meteorological and water resource monitoring, and plans to establish a wholly-owned subsidiary in Hong Kong for international expansion [4] - Lais Information is actively developing low-altitude economic strategies for over 20 provinces and cities, achieving significant progress [4]

Core Viewpoint - The 11th World Radar Expo will be held from May 17 to 19, 2025, in Hefei, showcasing innovations in radar technology and related fields [1][2]. Group 1: Event Overview - The expo will feature radar technologies such as anti-stealth radar and high-precision perception systems, along with key components and materials [1]. - The event is organized by the Equipment Development Department of the Military Commission, China Electronics Technology Group Corporation, China Electronics Information Industry Group, and the China Radar Industry Association [1]. - The theme of the expo is "Sharing Innovative Achievements to Inject Vitality into New Productive Forces" [1]. Group 2: Exhibition Details - The expo will include four major exhibition areas: Smart Electronic Equipment and Industry Chain, Industry Application, New Generation Information Technology, and Outdoor Installation [1]. - The total exhibition area will exceed 50,000 square meters, showcasing cutting-edge radar equipment and solutions [1]. Group 3: Academic and Cultural Activities - The event will host discussions with nearly 20 academicians and international experts on topics such as radar technology trends, innovation, international cooperation, and emerging industries [1][2]. - A special "Belt and Road" digital defense exchange area will be established for investment and signing activities to enhance cooperation with Belt and Road countries [2]. - A "Radar Culture and Science Popularization" exhibition will be designed to showcase radar knowledge and history [2]. Group 4: Awards and Recognition - The expo will also feature the selection of the "2024 Annual China Radar Industry Association Science and Technology Award" and the "2025 World Radar Expo Gold Award" [2]. - The World Radar Expo has been held biennially since 2001, becoming a comprehensive platform for technology foresight, industry promotion, and scientific innovation [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ●会议召开时间：2025年4月30日（星期三）下午15:00-17:00 ●会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 ●投资者可于2025年4月23日（星期三）至4月29日（星期二）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱IR@naruida.com进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 广东纳睿雷达科技股份有限公司（以下简称"公司"）已于2025年4月19日发布公司2024年度报告及2025 年第一季度报告，为便于广大投资者更全面深入地了解公司2024年度及2025年第一季度经营成果、财务 状况，公司计划于2025年4月30日（星期三）参加由上海证券交易所主办的2024年度科创板低空经济行 业集体业绩说明会，此次活动将采用网络互动的方式举行，投资者可登录 ...

Core Insights - The company reported a significant decline in both revenue and profit for 2024, with total revenue dropping to 218 million yuan, a decrease of 69.98% year-on-year, and a net loss of 78.23 million yuan, down 176.36% from a profit of 102 million yuan in 2023 [1][4] - Despite maintaining a high level of R&D investment, accounting for 44.44% of total revenue, the overall operational situation remains challenging, with short-term benefits from R&D investments being limited [1][7] Revenue and Profit Decline - The company's total revenue fell sharply from 726 million yuan in 2023 to 218 million yuan in 2024, marking a decline of 69.98% [4] - The net profit turned from a profit of 102 million yuan in 2023 to a loss of 78.23 million yuan in 2024, reflecting a year-on-year decrease of 176.36% [4] - The fourth quarter of 2024 saw a further decline in revenue to 132 million yuan, down 28.75% quarter-on-quarter, and a net loss of 20 million yuan, a staggering drop of 2824.01% [4] Product Structure and Market Dependency - The company's product structure is heavily reliant on radar and related equipment, which generated 89 million yuan in revenue in 2024, a significant decline of 84.89% [5] - The gross margin for radar and related equipment decreased by 26.77 percentage points to 6.47% [5] - The company’s revenue from radar components increased by 4.13% to 111 million yuan, with a gross margin of 27.65%, down 0.69 percentage points [5] Regional Performance - The North China region accounted for the largest share of revenue, generating 164 million yuan in 2024, a decline of 75.27% [6] - The gross margin in North China decreased by 14.65 percentage points to 18.95% [6] - In contrast, the Southwest region saw a revenue increase of 281.63% to 33 million yuan, with a gross margin rise of 25.71 percentage points to 17.73% [6] R&D Investment - The company maintained a high R&D investment of 96.79 million yuan in 2024, representing 44.44% of total revenue [7] - The workforce included 345 R&D personnel, making up 42.23% of total employees [7] - The company added 8 new patents in 2024, including 6 defense patents, bringing the total to 56 invention patents and 83 utility model patents [7]

1 、 《 时隔逾4年再次配股集资，小米股价短线受压 》摘要 2、 《 揭秘"全口径消费统计制度"》摘要 以北京市为例 早在 年其就发布 《北京市市场总消费统计办法》 这使得消费统计更加全 ■ 建议关注的制导装备产业链公司：高德红外、北方导航、理工导航、智明达、中天火箭、晶品特 装、广东宏大、长城军工等；雷达产业链公司：航天南湖、国睿科技等。 ■ 建议关注的地面兵装产业链公司：内蒙一机、晶品特装等；其他具有出口业务的公司包括：威海广 泰、航宇科技、睿创微纳等。 ■ 在AI大发展的背景下，新能源产业链有望与AIDC（人工智能数据中心）、人形机器人以及低空经济 深度融合，从而推动社会智能化升级并开辟新的成长空间。 ■ AI巨头加速资本开支，推动新能源产业链设备（如HVDC、BBU等）与数据中心技术的结合，这将 助力数据中心向智能计算（智算）数据中心转型。 ■ 随着新能源与人形机器人领域的结合，未来新能源汽车产业链中的公司可能会积极拓展人形机器人 业务。 ■ 与电动车发展阶段不同的是，国内人形机器人产业有望引领全球发展，从0到1的过渡期有望实现更 加顺利的进展。 ■ 新能源的三电系统（电池、电机、电控）是低空经济发 ...

根据《广东纳睿雷达科技股份有限公司首次公开发行股票并在科创板上市发 行安排及初步询价公告》和《广东纳睿雷达科技股份有限公司首次公开发行股票 并在科创板上市发行公告》（以下简称"《发行公告》"）公布的回拨机制，由 于网上初步有效申购倍数约为 3,553.27 倍，高于 100 倍，发行人和保荐机构（主 承销商）决定启动回拨机制，将扣除最终战略配售部分后本次公开发行股票数量 的 10%（向上取整至 500 股的整数倍，即 373.85 万股）由网下回拨至网上。回 拨机制启动后：网下最终发行数量为 2,262.2953 万股，约占扣除最终战略配售数 量后发行数量的 60.52%；网上最终发行数量为 1,475.8500 万股，约占扣除最终 战略配售数量后发行数量的 39.48%。 本次发行的网上、网下认购缴款工作已于 2023 年 2 月 22 日（T+2 日）结 束。具体情况如下： 一、新股认购情况统计 广东纳睿雷达科技股份有限公司 首次公开发行股票并在科创板上市 发行结果公告 保荐机构（主承销商）：中信证券股份有限公司 广东纳睿雷达科技股份有限公司（以下简称"发行人"或"纳睿雷达"）首 次公开发行人民币普通股（ ...