Core Viewpoint - The company, Guangha Communication, plans to enhance its research and development efforts in various intelligent systems and technologies to maintain its competitive edge in the market [2] Group 1: Product Development - The company aims to deepen its R&D and optimize products such as intelligent operation and maintenance systems, intelligent scheduling business assistants, and smart airport systems [2] - Significant technological advancements are expected in areas including voice interaction-based scheduling intelligent platforms, low-code technology for intelligent business flow engines, and enhanced terminal communication capabilities [2] Group 2: Technological Advancements - The company is focusing on achieving important technological breakthroughs in autonomous controllable technology, as well as enhancing audio and visual experiences for intelligent terminals and scene integration technologies [2] - These efforts are intended to strengthen the company's core technological advantages and ensure its technological leadership in the industry [2]

Group 1: Company Overview and Core Competencies - The company maintains a high market share in power dispatch systems, digital hydropower, X-ray detection of electrical equipment, and certain defense communication systems [3] - The company has sustained a research and development (R&D) investment rate of over 15% for the past five years, providing integrated solutions for key industry users [3] - The company has over 30 years of experience in technology, products, and management, establishing a strong brand presence in the command and dispatch communication market [3] Group 2: Emerging Business Areas - The company is expanding into intelligent command and dispatch, focusing on sectors such as railways, emergency response, oil, and petrochemicals [4] - In the railway sector, the company has participated in 5G-R line technical experiments and secured contracts for local railway dispatch projects [4] - The emergency response sector benefits from national policy support, with the company actively involved in major emergency drills and disaster communication support [4] Group 3: Financial Performance and Management - Non-recurring gains for the year include subsidies related to technology projects and grants for specialized small and medium enterprises [5] - The increase in accounts receivable is attributed to project progress in defense business and consolidation of subsidiaries, with no significant recovery risks identified [6] Group 4: Future Development and Financing - The company plans to invest in R&D for intelligent operation systems, intelligent dispatch assistants, and smart machine systems, focusing on voice interaction and low-code technologies [7][8] - The company’s stock issuance to specific investors was approved by the Shenzhen Stock Exchange on December 18, 2025, to support business development and accelerate technology R&D [8]

Fundraising Plan - The company plans to raise a total of up to 750 million RMB through a private placement of A-shares, with the net proceeds intended for specific projects [1][2] - The total investment for the projects is estimated at 904.37 million RMB, with the raised funds covering 750 million RMB of this amount [1] Project Details and Feasibility Analysis - The first project involves the construction of a new generation intelligent dispatch system, which includes the establishment of R&D, production, and office facilities, as well as the acquisition of advanced equipment [2][7] - The project aims to develop products based on cloud-edge architecture, enhancing the company's capabilities in various sectors such as railways and oil and gas [2][7] - The project is aligned with national policies promoting digital transformation and aims to improve the company's profitability and risk resilience [6][10] Market Demand and Trends - The demand for intelligent dispatch systems is increasing due to the digital transformation across industries, particularly in power and transportation sectors [8][10] - The market for emergency dispatch communication systems in China is projected to grow from 3.39 billion RMB in 2015 to 9.843 billion RMB by 2024, with a compound annual growth rate of 12.57% [25] Technological Innovation and Development - The company is focusing on integrating advanced technologies such as artificial intelligence and big data into its products to enhance their performance and market competitiveness [9][36] - The establishment of specialized R&D facilities and laboratories is crucial for fostering innovation and meeting future technological demands [38][39] Strategic Alignment with National Policies - The company's initiatives are in line with national strategies aimed at enhancing digital infrastructure and promoting the development of new technologies [10][41] - Recent government policies emphasize the importance of digital transformation and the integration of information technology across various sectors, providing a supportive environment for the company's projects [24][40]