Core Viewpoint - Guangha Communication plans its first private placement since its listing in 2017, aiming to raise up to 750 million yuan to strengthen its main business development and enhance its core competitiveness [2][4]. Financing Plan - The company intends to issue no more than 49.83 million shares to a maximum of 35 specific investors, with total fundraising not exceeding 750 million yuan [3]. - After the issuance, the controlling shareholder, Guangzhou Digital Science Group, will hold 55.28% of the shares, maintaining its status as the controlling entity [3]. Business Strategy and Performance - Guangha Communication has experienced steady growth in operating performance, with revenue, net profit, and net profit excluding non-recurring gains increasing by 170.6%, 373%, and 573% respectively from 2019 to 2024 [2][6]. - The company focuses on a three-pronged industrial layout strategy: reliable communication networks, comprehensive command and dispatch systems, and intelligent services [4][6]. Investment Projects - The raised funds will be allocated to three major projects: - New generation intelligent dispatch system construction (investment: 346 million yuan, funding: 309 million yuan) - Smart command system upgrade (investment: 280 million yuan, funding: 245 million yuan) - Core technology research for dispatch command systems (investment: 278 million yuan, funding: 197 million yuan) [5]. - The new generation intelligent dispatch system aims to develop products based on cloud-edge architecture and expand into new application fields such as railways and petrochemicals [5]. Technological Innovation - The company is engaged in the research, production, and sales of digital and multimedia command dispatch systems, with applications in critical sectors like power, defense, and emergency response [6]. - Guangha Communication has been driving innovation through a dual approach of "innovation + capital," leading to continuous growth in operating performance [6]. - The company has made significant investments in R&D, with expenditures of 61.93 million yuan, 72.09 million yuan, and 75.36 million yuan from 2022 to 2024, representing 16.16%, 15.99%, and 13.86% of revenue respectively [7]. Workforce and R&D Capacity - As of the end of 2024, the number of R&D personnel increased by 27.22% to 215, accounting for 31.62% of the total workforce [8].