中电凯杰"基于5G+工业互联网的表面贴装智能工厂"依托国家级双跨平台——中电云网，打造SMT工业 互联网平台，采用一体化基站、轻量级5G工业网关等产品，搭建轻量化5G专网，深入融合OT和IT，将 工业设备连接至边缘计算及云端，通过将自主开发的MES、WMS、工业APP等与ERP系统集成和数据 互联互通，打造面向表面贴装的轻量化5G工厂，对传统表面贴装生产制造进行数智化升级，利用区块 链、5G、工业互联网技术，解决表面贴装生产制造过程中数据不贯通、质量异常发现不及时等问题， 在生产效率提升、成本管控、质量提升和智能化管理方面为行业中小企业提供便利。 未来，中电凯杰将持续面向5G+工业互联网领域，探索中小企业智能制造与产业升级新路径，以更加优 质的生产加工服务和更具共性的数字化基础服务，助力产业创新和数智化转型，为助推湖南省电子信息 行业整体发展积极赋能。 长沙晚报掌上长沙12月22日讯（通讯员 刘璨 付芦静）近日，湖南省工业和信息化厅公布了2025 年"5G+工业互联网"标杆工厂名单。中电凯杰科技有限公司（简称中电凯杰）入选该名单，充分展现了 中电凯杰在"5G+工业互联网"融合应用领域的技术能力。 ...

Investment Rating - The report maintains a "Recommended" rating for the company [6] Core Viewpoints - The company reported a revenue of 6.491 billion yuan in 2024, a decrease of 17.29% year-on-year, and a net profit attributable to shareholders of -279 million yuan, which represents a reduction in losses by approximately 79 million yuan compared to the previous year [1] - Despite the revenue decline, the company achieved a positive operating cash flow of 703 million yuan for the first time, indicating an improvement in operational quality [1] - The company is actively engaged in technology research and development, focusing on 6G wireless technology and satellite internet, with significant advancements in product development and a notable increase in intellectual property applications [2] - The commercial deployment of 5G-A is accelerating, with domestic and international operators launching their plans, which is expected to benefit the company significantly [3] - Future profit projections indicate a net profit of 1.9 million yuan in 2025, 10.8 million yuan in 2026, and 25.4 million yuan in 2027, suggesting strong growth potential as 5G-A and satellite internet businesses expand [3] Financial Summary - The company’s revenue is projected to grow from 6.491 billion yuan in 2024 to 10.203 billion yuan in 2027, with growth rates of -17.29%, 15.05%, 18.45%, and 15.34% respectively [5][10] - The net profit attributable to shareholders is expected to turn positive in 2025, reaching 19 million yuan, and further increasing to 254 million yuan by 2027, with corresponding growth rates of 22.0%, 107.0%, 458.7%, and 134.6% [5][10] - The price-to-earnings (PE) ratio is projected to decrease from 918X in 2025 to 70X in 2027, indicating an improving valuation as profitability increases [3][5]