Core Viewpoint - The company, Aiguang Technology (300123.SZ), is involved in satellite production line construction through its subsidiary Chengdu Aiguang, although the current order amount is relatively small [1] Group 1: Company Involvement - Chengdu Aiguang is one of the suppliers for the satellite production line construction [1] - The company has relevant products in the satellite field that can be supplied, including low-noise amplifiers, mixers, power dividers, filters, and signal detection circuits [1] - Additionally, composite functional microwave module components, such as TR components, can also be supplied [1]

证券日报网讯 1月6日，亚光科技在互动平台回答投资者提问时表示，公司自研的MMIC芯片（含T/R芯 片）除满足自身产品需求外，也对外进行销售，客户采购后广泛用于多种用途，其中包含卫星通信相关 领域。在卫星互联网及通信应用方面，公司可提供射频前端等多种配套产品，例如低噪声放大器、混频 器、功分器、滤波器、信号检测电路等，同时也具备复合功能微波模块及组件（如TR组件）的设计与 配套能力。目前，公司产品已应用于部分卫星星座建设项目，如GW星座计划等，未来公司将继续紧跟 卫星通信及低轨星座发展趋势，积极对接客户需求，持续拓展产品在相关领域的应用与市场份额。 （编辑 姚尧） ...

Core Insights - The company, Yaguang Technology, has indicated its capabilities in the satellite internet and communications sectors, specifically through its microwave channel products [2] Group 1: Product Offerings - The company offers a range of microwave channel products that can support applications in satellite internet and communications, including low-noise amplifiers, mixers, power dividers, filters, and signal detection circuits [2] - Additionally, the company provides composite functional microwave module components, such as TR components, which can also be utilized in these sectors [2]

Core Viewpoint - The company plans to delay the implementation of certain fundraising investment projects and adjust its internal investment structure to enhance the efficiency of fundraising fund utilization, in response to market changes and project implementation conditions [1][14]. Fundraising Basic Situation - The company raised a total of RMB 252 million through a non-public offering of 24,589,840 shares at a price of RMB 10.24 per share, with a face value of RMB 1 per share [1]. - The funds are managed in a dedicated account with a tripartite supervision agreement signed with the sponsoring institution and the bank [2]. Current Fund Storage and Account Situation - As of May 31, 2025, the total balance of the raised funds is RMB 62,280,340.27, with RMB 20,000,000 in structured deposits [2]. Project Re-evaluation - The company re-evaluated the necessity and feasibility of the 5G wireless network coverage RF device product R&D and industrialization project, confirming its alignment with long-term strategic planning [3][14]. - The project includes the development of multi-system access platforms (POI) and passive microwave devices, which are essential for indoor coverage in 5G communication systems [4][6]. Market Demand and Trends - The demand for POI products is expected to grow due to the increasing requirements for low latency and diverse network standards in 5G applications [4][6]. - The company aims to leverage the growing market for customized communication solutions across various sectors, including public safety and industrial applications [4][6]. Internal Investment Structure Adjustment - The company plans to reduce investment in the 5G broadband passive device production line and focus on POI production line construction, adjusting the investment amounts accordingly [10][11]. - The total adjusted investment for the project is RMB 78.81 million, with a focus on enhancing R&D expenditures to adapt to market changes [10][14]. Expected Revenue from Projects - The projected annual sales revenue upon full production is approximately RMB 215.41 million, with a payback period of 5.35 years and an internal rate of return of 20.01% [13][14]. Project Delay Reasons - The delay in the project completion is attributed to structural reductions in telecom operators' capital expenditures and increased competition in the market, leading to lower profit margins [14][15]. - The company has assessed that there are no factors affecting the normal progress of the fundraising plan [15]. Decision-Making Process - The decision to delay the project and adjust the investment structure has been approved by the company's board and supervisory committee, and will be submitted for shareholder approval [16].