通宇通讯所属申万行业为：通信-通信设备-通信网络设备及器件。所属概念板块包括：5.5G概念、一带 一路、融资融券、储能、虚拟电厂等。 11月26日，通宇通讯盘中上涨2.06%，截至13:51，报19.85元/股，成交8.42亿元，换手率12.91%，总市 值104.20亿元。 资金流向方面，主力资金净流出6326.25万元，特大单买入4109.23万元，占比4.88%，卖出9618.56万 元，占比11.43%；大单买入1.65亿元，占比19.55%，卖出1.73亿元，占比20.52%。 通宇通讯今年以来股价涨33.63%，近5个交易日涨13.23%，近20日涨2.32%，近60日涨7.12%。 资料显示，广东通宇通讯股份有限公司位于广东省中山市火炬开发区东镇东二路1号，成立日期1996年 12月16日，上市日期2016年3月28日，公司主营业务涉及从事基站天线,微波天线,射频器件,光模块产品 及能源换电柜,充电柜产品的研发、生产及销售。主营业务收入构成为：基站天线57.09%，微波天线 22.39%，射频器件12.77%，卫星通讯4.90%，其他2.18%，光模块0.67%。 截至9月30日，通宇通讯股东户 ...

投资者关系活动记录表 投资者关系活动 类别 ☑ 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称 长信基金 陈宇哲 华福证券 马卓群 蒋澍 邓娴仪 爱建证券 许亮 李健 时间 2025 年 11 月 25 日 地点 公司会议室 公司接待人员 姓名 黄华 董事会秘书 张炜亮 投资者关系经理 邓家庆 证券事务代表 投资者关系活动 主要内容介绍 公司于 2025 年 11 月 25 日接待参与本次调研活动的机构，主 要活动内容如下： 一、参观公司展厅、测试暗室、微波天线车间、5G 天线车间。 二、公司简要介绍主营业务产品、发展历程及未来发展规划， 与参会机构座谈交流。 1、问：公司基本情况介绍？ 答：公司作为通信天线及射频器件领域的领先企业，专注于基 站天线、射频器件与微波天线等产品的研发、生产与销售，为全球 主流移动通信运营商和设备集成商提供综合解决方案。公司产品全 面覆盖 2G 至 5G 等多网络制式，在国内服务于中国移动、中国电信、 中国联通等运营商及中兴通讯、大唐电信等设备商，在国际市场与 爱立信、诺基亚、三星及沃达丰等长期合作，行业地位稳固。 ...

国泰中证全指通信设备ETF（515880）成立日期2019年8月16日，最新规模115.52亿。今年以来收益 77.84%，同类排名12/4206；近一年收益80.75%，同类排名10/3983；成立以来收益142.44%。 国泰中证全指通信设备ETF（515880）基金经理为艾小军。 从通宇通讯十大流通股东角度 数据显示，国泰基金旗下1只基金位居通宇通讯十大流通股东。国泰中证全指通信设备ETF（515880） 三季度新进十大流通股东，持有股数156.77万股，占流通股的比例为0.47%。根据测算，今日浮盈赚取 约148.93万元。 截至发稿，艾小军累计任职时间11年320天，现任基金资产总规模1690.29亿元，任职期间最佳基金回报 256.49%， 任职期间最差基金回报-46.54%。 11月25日，通宇通讯涨5.23%，截至发稿，报19.12元/股，成交2.78亿元，换手率4.49%，总市值100.37 亿元。 资料显示，广东通宇通讯股份有限公司位于广东省中山市火炬开发区东镇东二路1号，成立日期1996年 12月16日，上市日期2016年3月28日，公司主营业务涉及从事基站天线,微波天线,射频器件,光模 ...

Group 1 - The core point of the news is that Tongyu Communication's stock price increased by 5.25% to 18.45 CNY per share, with a trading volume of 250 million CNY and a turnover rate of 4.22%, resulting in a total market capitalization of 9.685 billion CNY [1] - Tongyu Communication, established on December 16, 1996, and listed on March 28, 2016, specializes in the research, production, and sales of base station antennas, microwave antennas, RF devices, optical modules, and energy exchange cabinets [1] - The company's main business revenue composition includes base station antennas (57.09%), microwave antennas (22.39%), RF devices (12.77%), satellite communications (4.90%), other (2.18%), and optical modules (0.67%) [1] Group 2 - From the perspective of the top ten circulating shareholders, Guotai Fund's ETF, Guotai Zhongzheng All Index Communication Equipment ETF (515880), entered the top ten shareholders in the third quarter, holding 1.5677 million shares, accounting for 0.47% of circulating shares, with an estimated floating profit of approximately 1.4423 million CNY [2] - The Guotai Zhongzheng All Index Communication Equipment ETF (515880) was established on August 16, 2019, with a latest scale of 11.552 billion CNY, achieving a year-to-date return of 89.51% and ranking 3rd out of 4208 in its category [2] - The fund manager of the ETF is Ai Xiaojun, who has a cumulative tenure of 11 years and 315 days, with the fund's total asset scale at 169.029 billion CNY and the best fund return during his tenure being 259.2% [3]

Core Insights - Tongyu Communication is a leading enterprise in the communication antenna and RF device sector, focusing on the development, production, and sales of base station antennas, RF devices, and microwave antennas, providing comprehensive solutions for global mainstream mobile communication operators and equipment integrators [2] Company Overview and Strategic Direction - The company has established a strong position in the market, covering 2G to 5G network standards, with domestic clients including China Mobile, China Telecom, and China Unicom, and international partners such as Ericsson, Nokia, and Samsung [2] - As of June 2025, the company holds over 700 authorized patents in the RF communication field, indicating a robust commitment to technology research and development [2] - The strategic focus is on a dual-driven approach of "communication antennas + satellite communication," accelerating research into 6G and low-orbit satellite internet [2] Core Business Progress - In the satellite communication sector, the company has established a comprehensive product system covering the entire "star-ground-end" chain, with significant advancements in low-orbit satellite applications [3] - The company is actively involved in the development of ground station terminals, satellite communication payloads, and terminal applications, with a focus on dynamic antennas for high-speed communication services [3] - The filter business is primarily export-oriented, with a stable customer base including Ericsson, while the microwave antenna products are designed for high-performance point-to-point transmission in complex electromagnetic environments [4] MACRO WIFI Product Development - The MACRO WIFI products are designed for open areas, featuring long-range coverage and high concurrent access capabilities, with successful partnerships established in Australia and ongoing product certification in approximately 18 countries [5] Future Outlook - The company is optimistic about the future of its satellite communication business, anticipating continued market competitiveness and participation in national satellite internet infrastructure development over the next three years [6] - Long-term prospects include the integration of satellite communication with emerging low-altitude economies, with expectations that prior investments in technology and capacity will translate into actual orders and performance contributions [7]

Company Overview - Guangdong Tongyu Communication Co., Ltd. is a leading enterprise in the field of communication antennas and RF devices, focusing on the R&D, production, and sales of base station antennas, RF devices, and microwave antennas [2][3] - The company serves major domestic operators such as China Mobile, China Telecom, and China Unicom, as well as international partners like Ericsson, Nokia, and Samsung [3] Satellite Communication Development - The company has established a comprehensive product layout covering the entire "satellite-ground-end" chain, including satellite communication payloads, ground station terminals, and terminal applications [3][4] - The domestic satellite internet development is a key part of national infrastructure, aiming to fill communication coverage gaps and meet emergency communication needs [4] - By 2030, the goal is to have over 10 million satellite communication users, supported by recent policy initiatives [4] Product and Business Highlights - The company holds over 700 authorized patents in the RF communication field, including various types of international, invention, and utility model patents [3] - The filter business focuses on compact, lightweight, and stable signal products, primarily for export, with Ericsson as a core customer [5] - The microwave antenna business covers frequencies from 5GHz to 80GHz, widely used in digital microwave relay communication systems [5] Future Outlook - The company is optimistic about the future of its satellite communication business, expecting to strengthen market competitiveness and participate in national satellite internet infrastructure construction [6] - With ongoing investments in technology R&D and capacity building, the company anticipates a new growth cycle driven by actual orders and performance contributions [6] MACRO WIFI Product Development - The MACRO WIFI product features long-range coverage, high concurrent access, and intelligent stability, designed for open areas like villages and farms [7] - A significant order of 1,000 units was signed with an Australian client, marking the product's successful entry into overseas markets [8] - The product is currently undergoing certification in approximately 18 countries, including Europe, Africa, and North America, with expected procurement following certification [8]

Core Insights - Tongyu Communication's stock dropped by 5.08% to 19.06 CNY per share, with a trading volume of 292 million CNY and a turnover rate of 4.53%, resulting in a total market capitalization of 10.005 billion CNY [1] Group 1: Company Overview - Tongyu Communication, established on December 16, 1996, and listed on March 28, 2016, is located in Zhongshan, Guangdong Province [1] - The company's main business includes the research, production, and sales of base station antennas, microwave antennas, RF devices, optical modules, energy exchange cabinets, and charging cabinets [1] - Revenue composition: base station antennas 57.09%, microwave antennas 22.39%, RF devices 12.77%, satellite communication 4.90%, others 2.18%, optical modules 0.67% [1] Group 2: Shareholder Insights - Guotai Fund's ETF, Guotai CSI All-Share Communication Equipment ETF (515880), entered the top ten circulating shareholders of Tongyu Communication in Q3, holding 1.5677 million shares, which is 0.47% of the circulating shares [2] - The estimated floating loss for this ETF today is approximately 1.5991 million CNY [2] Group 3: Fund Performance - Guotai CSI All-Share Communication Equipment ETF (515880) was established on August 16, 2019, with a current scale of 11.552 billion CNY [2] - Year-to-date return is 92.14%, ranking 5th out of 4216 in its category; the one-year return is 73.53%, ranking 9th out of 3937; and since inception, the return is 161.94% [2]

Group 1: Company Overview - The company specializes in the research, production, and sales of communication antennas and RF devices, including base station antennas and microwave antennas, serving mobile communication operators and equipment integrators [3][4]. - As of June 30, 2025, the company holds over 700 authorized patents in the RF communication field, showcasing its strong technical foundation and intellectual property barriers [5]. Group 2: Financial Performance - In the first half of 2025, the revenue from the microwave antenna business reached approximately 119 million yuan, with a gross margin of 33%, accounting for 22% of the company's total revenue [4]. - The company's overseas revenue surpassed domestic revenue for the first time in the first half of 2025, driven by expansion in emerging markets along the Belt and Road Initiative [6]. Group 3: Strategic Initiatives - The company has made strategic investments in the satellite communication sector, including a 30 million yuan investment in Hongqing Technology and a 100 million yuan contribution to a venture capital fund aimed at low-orbit satellite internet [4]. - The company is focusing on high-margin businesses, optimizing its cost structure through supply chain management and operational efficiency improvements [3][4]. Group 4: Market Position and Competitive Advantage - The company is positioned in the first tier of the mobile communication antenna industry, with a strong market competitiveness due to its reliable product quality and vertical integration in precision manufacturing [5]. - The company is actively expanding its product range beyond traditional antennas to include new energy smart charging cabinets and satellite communication, creating a diversified product portfolio [5]. Group 5: Future Outlook - The company anticipates continued growth in the satellite communication and low-altitude economy sectors, alongside expansion in overseas markets, which will drive the transformation of early investments into substantial performance [4][6]. - The company aims to enhance its competitiveness in the global communication infrastructure market through a strategy of "global operations, localized services" [6][7].

Core Insights - Tongyu Communication's stock increased by 5.18%, reaching 20.30 CNY per share, with a trading volume of 497 million CNY and a turnover rate of 7.65%, resulting in a total market capitalization of 10.656 billion CNY [1] Company Overview - Tongyu Communication, established on December 16, 1996, and listed on March 28, 2016, is located in Zhongshan, Guangdong Province. The company specializes in the research, production, and sales of base station antennas, microwave antennas, RF devices, optical module products, energy exchange cabinets, and charging cabinets [1] - The revenue composition of Tongyu Communication is as follows: base station antennas 57.09%, microwave antennas 22.39%, RF devices 12.77%, satellite communication 4.90%, others 2.18%, and optical modules 0.67% [1] Shareholder Insights - Guotai Fund's ETF, Guotai CSI All-Share Communication Equipment ETF (515880), entered the top ten circulating shareholders of Tongyu Communication in the third quarter, holding 1.5677 million shares, which is 0.47% of the circulating shares. The estimated floating profit today is approximately 1.5677 million CNY [2] - The Guotai CSI All-Share Communication Equipment ETF (515880) was established on August 16, 2019, with a current scale of 11.552 billion CNY. Year-to-date returns are 102.63%, ranking 5th out of 4216 in its category; the one-year return is 95.14%, ranking 7th out of 3913; and since inception, the return is 176.23% [2]

Core Viewpoint - Tongyu Communication's stock price has shown a year-to-date increase of 27.63%, but recent trading indicates a slight decline, with a 2.02% drop on November 6, 2023, reflecting market volatility and potential investor concerns [1]. Financial Performance - For the period from January to September 2025, Tongyu Communication reported a revenue of 815 million yuan, representing a year-on-year decrease of 3.34%. The net profit attributable to shareholders was 25.27 million yuan, down 50.91% compared to the previous year [2]. - Cumulatively, since its A-share listing, the company has distributed a total of 375 million yuan in dividends, with 133 million yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders for Tongyu Communication stood at 53,800, with an average of 6,201 circulating shares per person, indicating stability in shareholder numbers [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 609,600 shares to 2.701 million shares, and the Guotai CSI Communication Equipment ETF, which is a new entrant holding 1.5677 million shares [3]. Market Activity - On November 6, 2023, the stock traded at 18.96 yuan per share, with a total transaction volume of 303 million yuan and a turnover rate of 4.76%. The total market capitalization was approximately 9.953 billion yuan [1]. - The net outflow of main funds was 30.92 million yuan, with significant selling pressure observed, as large orders sold 73.73 million yuan worth of shares, indicating potential liquidity issues [1]. Business Overview - Tongyu Communication, established on December 16, 1996, and listed on March 28, 2016, specializes in the research, production, and sales of base station antennas, microwave antennas, RF devices, optical modules, and energy exchange cabinets [1]. - The company's revenue composition includes base station antennas (57.09%), microwave antennas (22.39%), RF devices (12.77%), satellite communications (4.90%), and others (2.18%) [1]. Industry Context - Tongyu Communication operates within the communication equipment sector, specifically focusing on communication network devices and components. The company is associated with various concepts, including the Belt and Road Initiative, China-Russia trade, virtual power plants, satellite internet, and energy storage [1].