Core Insights - The company, Xingwang Yuda, is recognized as one of the early domestic enterprises engaged in the research and promotion of unmanned systems products, having accumulated significant technological expertise over the years [1] - The company has developed a comprehensive range of unmanned systems, including low, medium, and high spectrum unmanned target aircraft, all-weather multi-disaster reconnaissance drones, unmanned boats, unmanned vehicles, and subsonic solid rocket targets [1] - The company has achieved breakthroughs in key technologies such as high-altitude maneuverability, ultra-low altitude flight, high-speed multi-aircraft formations, and multi-channel anti-jamming [1] Financial Performance - The company's gross margin for unmanned systems in 2024 is expected to be low due to several factors, including the impact of military procurement network restrictions, a decline in operating revenue, increased fixed costs allocated to products, and intensified market competition [1] - The decrease in sales prices for some orders has also contributed to the lower gross margin [1] Product Development - The company has completed a technical upgrade of a highly integrated anti-drone product, which can monitor, identify, and counteract drones, effectively preventing illegal drone incursions into key protected areas [1] - This product addresses concerns related to the use of drones for delivering hazardous materials or capturing images of regulatory facilities in sensitive regions [1]