证券日报网讯华力创通9月24日在互动平台回答投资者提问时表示，公司坚定推进民用市场"做强、做 优、做大"。在北斗方面，公司基于自主研制的北斗基带芯片，已经形成专用北斗产品、民用北斗产品 及解决方案、惯性与组合导航产品及导航测试产品四大产品线，全国产化的自主产品和体系化解决方案 在应急管理、地灾监测等民用及行业市场得到广泛应用。同时，公司为挖掘新的盈利增长点，研制了电 动自行车北斗终端芯片，目前该终端芯片产品已完成样机开发，并开展适配测试，为后续批量合作奠定 基础。 （文章来源：证券日报） ...

Group 1: Stock ETFs and Fund Performance - The number of stock ETFs with a scale exceeding 10 billion yuan has reached 57, an increase of 10 since the end of June [1] - 32 public fund institutions have 46 equity products that have doubled in net value this year, with 96.58% of equity funds showing positive growth [1][2] Group 2: Mergers and Acquisitions - The "Six Merger Guidelines" have led to 230 disclosed major asset restructurings, indicating a new phase of increased quantity and quality in A-share mergers and acquisitions [1] - The guidelines support industry integration and are expected to facilitate large-scale mergers and acquisitions through capital markets [1] Group 3: Hong Kong Market and Privatization - 20 Hong Kong companies have privatized and delisted this year, with Longhong Jiahua's stock price surging 23.91% upon resumption of trading [2] Group 4: Electricity Market Trends - The trend of declining electricity prices is becoming more evident, impacting profit margins for power generation companies [2] - The auction results in Shandong show a significant drop in photovoltaic mechanism prices, raising concerns among industry players [2] Group 5: Engineering Machinery Industry - The engineering machinery sector has seen a sales increase of over 10% in various product categories from January to August, with excavator sales up 17.2% [3][4] Group 6: AI in Banking - The banking industry is shifting towards integrating AI technology into core business operations, with cost and safety concerns being major obstacles [4] Group 7: Tether Financing - Tether Holdings SA is seeking to raise up to $20 billion through a private placement, potentially valuing the company at around $500 billion [4] Group 8: Stock Market Trends - U.S. stock indices collectively fell, with the Dow down 0.19% and the Nasdaq down 0.95%, influenced by comments from Federal Reserve Chairman Jerome Powell regarding high valuations and inflation concerns [10][11]

Core Viewpoint - Huali Chuantong (300045) has developed a range of products based on its self-developed Beidou baseband chip, which are widely applied in emergency management and geological disaster monitoring in both civilian and industry markets [1] Product Development - The company has established four main product lines: dedicated Beidou products, civilian Beidou products and solutions, inertial and integrated navigation products, and navigation testing products [1] - To explore new profit growth points, the company has developed a Beidou terminal chip for electric bicycles, with prototype development completed and adaptation testing underway, laying the foundation for future mass cooperation [1]

Group 1: Low Earth Orbit Satellite Development - The company is actively tracking the development trends in the domestic low Earth orbit satellite industry and has participated in the formulation of communication protocols and industry standards, accumulating solid research experience and technical reserves [2][3] - Currently, the company's low Earth orbit satellite supporting products are in the pre-research stage, with plans for multi-mode satellite communication chips and low-cost radiation-resistant onboard modules [3][4] Group 2: Financial Performance - The company's revenue for the first half of 2025 was 332 million CNY, reflecting a decrease due to intensified industry competition and adjustments in order delivery schedules [3][4] - As of August 26, 2025, the company reported a 100% completion rate for significant contracts disclosed in 2023 [4] Group 3: Strategic Partnerships and Product Development - The company is advancing its core technology in mobile satellite communication and is actively seeking partnerships with mobile phone manufacturers to expand market reach [4][5] - In the automotive sector, the company has developed satellite communication and navigation products tailored for vehicle applications, with some models already in small-scale production [5][6] Group 4: Future Business Growth - The company focuses on four main business segments: satellite applications, simulation testing, radar signal processing, and unmanned systems, with satellite applications expected to see significant growth [9][10] - The company aims to accelerate its industrialization process and expand into new markets, including low-altitude economy and commercial aerospace, to drive high-quality development [10][11]