Core Viewpoint - Xi'an Tianhe Defense Technology Co., Ltd. is actively engaging with institutional investors to discuss its military equipment business, underwater unmanned systems development, military trade export situation, and progress on targeted issuance of shares [1][2]. Group 1: Military Equipment Business - The military equipment segment is centered around a new generation of integrated short-range defense systems, focusing on low-altitude defense, intelligent coastal defense, air defense, battlefield environment perception, digital military applications, and military support [1]. - Key products include portable air defense missile command systems, field communication command systems, and radar and combat command systems, addressing multi-dimensional military needs [1][2]. Group 2: Underwater Business - The underwater business focuses on two main areas: underwater sensors and underwater autonomous vehicles, highlighting their dual-use nature for military and civilian applications [2]. - Underwater sensors are utilized for ocean environment monitoring, providing data support for various underwater platform operations [2]. - Underwater autonomous vehicles are capable of long-term submersion, unmanned operation, and autonomous control, with applications in reconnaissance, anti-submarine warfare, and ocean exploration [2]. Group 3: Military Trade Export - The company adheres to national military trade policies, ensuring all military product exports are conducted through specialized military trade companies [2]. - Customer feedback is positive, with a focus on the products' all-domain detection, multi-task processing capabilities, and low-cost interception performance, indicating competitive strength in international markets [2]. Group 4: Targeted Issuance of Shares - The company is progressing with a targeted issuance of shares for 2024, which has been formally accepted by the Shenzhen Stock Exchange and is awaiting regulatory approval [2]. - The specific use of raised funds will be disclosed in accordance with regulatory requirements [2].

Group 1: Military Equipment Business - The company's military equipment business focuses on a new generation of integrated short-range defense systems, including products like the China Hunter 3.0 and intelligent three-dimensional coastal defense systems [2][3] - Core products include portable air defense missile intelligence command systems, field communication command systems, and radar and combat command systems [2][3] Group 2: Underwater Business Focus - The underwater business primarily concentrates on underwater sensors and autonomous underwater vehicles (AUVs) [3] - Underwater sensors are used for ocean environment monitoring, while AUVs can perform various underwater tasks such as reconnaissance and anti-submarine operations [3] Group 3: Export Markets and Customer Feedback - The company's military trade products are exported through military trade companies, with positive customer feedback on the system's multi-task detection capabilities and low-cost interception abilities [3] Group 4: Fundraising and Financial Plans - The company is in the process of a directed issuance of shares for 2024, which has been formally accepted by the Shenzhen Stock Exchange and awaits further approvals [4] - The net proceeds from the fundraising will be used to supplement working capital and develop the main business [4]

Business Overview - The company focuses on the research, production, and delivery of low-altitude air defense equipment, aiming to enhance low-altitude air superiority capabilities [2][3]. - The current business structure includes three main systems: "Military Equipment," "Communication Electronics," and "Next-Generation Integrated Electronic Information (Tianrong Project)," supporting dual-use development [2][3]. Military Equipment Business - The military equipment sector centers on the new generation of integrated short-range defense systems, including products like portable air defense missile intelligence command systems and smart coastal defense reconnaissance systems [4]. - Key products include: - Portable air defense missile intelligence command systems - Field communication command systems - Radar and combat command systems - Underwater unmanned combat systems (Hunting Sound series) [4]. Underwater Business Focus - The underwater business primarily targets underwater sensors and autonomous underwater vehicles, focusing on ocean environment monitoring and various underwater tasks such as reconnaissance and anti-submarine operations [5][6]. Anti-Drone Systems - The anti-drone command system is designed for reconnaissance and threat assessment of low-altitude, small unmanned aerial vehicles in critical areas [7]. - The company is developing integrated data service systems for low-altitude security, addressing new challenges posed by drones in military and civilian contexts [7]. Key Technologies and Capabilities - The company’s military equipment is equipped with capabilities to counter low-speed, low-altitude drones, primarily using electronic interference as the main countermeasure [7].

Core Viewpoint - Tianhe Defense (300397) is actively engaged in the RF chip sector through its subsidiary Chengdu Tongliang, offering a diverse range of products for various applications, including military and civilian uses [1] Group 1: RF Chip Products - The company’s products in the RF chip domain include high-reliability RF transceiver front-end chips/modules for base stations, wireless communication RF transceiver chips/modules, radar sensing chips/modules, and customized equipment [1] - Specific products offered by Chengdu Tongliang encompass low-noise amplifiers, driver amplifiers, power amplifiers, switches, RF front-end modules, and radar sensing chips and modules [1] Group 2: Underwater Autonomous Vehicles - Tianhe Haifang, a subsidiary of the company, specializes in underwater autonomous vehicles that serve dual military and civilian purposes [1] - These vehicles are capable of long-term submersion and autonomous navigation, equipped with various sensors to perform different underwater tasks [1] - The autonomous vehicles can execute operations such as combat missions or ocean exploration and are designed for autonomous recovery and repeated use [1]

Group 1 - Shanghai Jinglin Asset Management Company is a private fund management company registered with the Asset Management Association of China, focusing on investments in domestic and foreign listed company stocks [2] - The company has a strong track record of performance, managing various A-share trust investment plans since 2006, and has gained the trust of large institutional investors and high-net-worth individuals [2] - Jinglin's investment philosophy emphasizes value investing, utilizing fundamental analysis and stock valuation, with a preference for companies with high entry barriers and strong negotiation capabilities [2] Group 2 - Jinglin Asset recently conducted research on Tianhe Defense, highlighting its core business lines, including military equipment, communication electronics, and new-generation integrated electronic information [1] - Tianhe Defense has signed contracts for a portable air defense missile intelligence command system upgrade project, with a total contract value of approximately 260 million yuan, indicating potential for ongoing orders [1] - The company is advancing a stock issuance to specific targets for 2024, with all raised funds intended to supplement working capital [1]

Group 1: Core Business Lines - The company focuses on the research, production, and delivery of low-altitude short-range defense equipment, emphasizing the development of portable air defense missile intelligence command systems [2][3] - The business layout includes military products primarily through the subsidiary Tianwei Electronics, targeting low-altitude defense and coastal defense, while civilian products are developed through Huayang Communication, focusing on the RF industry [3] Group 2: Military Equipment Business - The military equipment business centers on the new generation of integrated short-range defense systems, including products like portable air defense missile intelligence command systems and underwater unmanned systems [4][6] - The company has signed contracts for the upgrade of portable air defense missile intelligence command systems, with a contract value of approximately 260 million RMB, indicating a potential for ongoing orders [4] Group 3: Anti-Drone Products - The military equipment aims to achieve low-altitude control, with anti-drone capabilities primarily utilizing electronic interference methods [5] Group 4: Underwater Autonomous Vehicles - The subsidiary Tianhe Haifang develops underwater autonomous vehicles (AUVs) for dual-use applications, capable of executing various underwater tasks and conducting marine research [6] Group 5: Fundraising and Financial Strategy - The company is in the process of issuing stocks to specific investors for the fiscal year 2024, with the net proceeds intended to supplement working capital [6]

Business Overview - The company focuses on the research, production, and delivery of low-altitude air defense equipment, emphasizing the development of portable air defense missile intelligence command systems [2][3] - The business layout includes military products through subsidiary Tianwei Electronics and civilian products through subsidiary Huayang Communication, targeting the RF industry chain [3] Military Equipment Business - The core of the military equipment business is the new generation of integrated short-range defense systems, including products like portable air defense missile command systems and smart coastal defense systems [3][4] - Key products include battlefield communication command systems, radar and combat command systems, and underwater unmanned combat systems [3][4] Underwater Business Focus - The underwater business concentrates on underwater sensors for ocean environment monitoring and underwater unmanned autonomous vehicles for reconnaissance and training [4][6] - The underwater autonomous vehicles are primarily aimed at domestic research institutions for underwater research applications [6] Market Trends and Future Expectations - The military market is expected to grow due to increased national defense investment, presenting more opportunities for development [7] - The company plans to enhance its core technology and market share while focusing on military-civilian dual-use product development [7][8] - In 2024, the company aims to strengthen its traditional business advantages and enhance product competitiveness through continuous innovation and upgrades [8][9] Strategic Focus Areas - The company will prioritize military equipment, 5G RF, and the new generation of integrated electronic information (Tianrong Engineering) as its strategic focus [8] - Emphasis will be placed on low-altitude economy, emergency equipment, digital health, and big data in military-civilian dual-use sectors [8][9]