Financial Performance - The company achieved a total revenue of 2.26 billion, a decrease of 480 million year-on-year, primarily due to a decline in OEM and other business revenues by 340 million and a decrease in main business revenue by 140 million due to project delays in overseas regions [2][3] - Net profit attributable to the parent company was 93.58 million, a decrease of approximately 68.81 million year-on-year, mainly due to a decline in quarterly profits [2] - In Q2, net profit reached 66.45 million, an increase of 33% year-on-year and 145% quarter-on-quarter [2] - Overall gross margin improved to 51%, an increase of 5 percentage points year-on-year [2] Operational Highlights - The company has seen a significant reduction in expense ratios compared to 2021, with R&D, management, and sales expense ratios decreasing notably by 2024 [2] - Operating cash flow reached 240 million, marking the best level in nearly five years [3] - Domestic main business revenue reached a historical high, with strong growth in channel business and continuous expansion of partners and distributors [3] Product Development - The company is enhancing its narrowband product line and actively participating in the formulation of communication standards for public safety, emergency, and railway industries [4] - New products include various communication modules for railway safety and upgrades to commercial terminal products [4] - The company is focusing on AI applications, integrating new technologies such as AI-driven robots and intelligent command centers into its communication solutions [6] Market Expansion - Approximately 50% of the company's revenue comes from overseas sales, with significant growth in emerging markets and regions along the Belt and Road Initiative [7] - The company is strategically focusing on the Belt and Road and BRICS countries, showing positive growth trends [8] R&D Investment - R&D investment increased by about 8% year-on-year, with a focus on profitable product lines such as narrowband products, public-private integration, and AI networks [9] - The company is optimizing its R&D structure by reallocating resources to high-return projects [9] Future Outlook - Despite current macroeconomic pressures, the company remains optimistic about business opportunities in the second half of the year, particularly in the AI private network sector [13] - The company aims to continue its path of "high-quality development" and stable growth [13]