Core Viewpoint - The interview with Gong Xuehua, the Secretary of the Board of Directors of Narui Radar, highlights the company's focus on advanced radar technology and its applications in various fields, emphasizing the importance of technological innovation as a driving force for new productive forces in the industry [5][6][12]. Company Overview - Narui Radar specializes in full-polarization active phased array radar technology and has achieved early industrialization. The company provides radar detection system solutions primarily for meteorological detection and water resource monitoring, with plans to expand into civil aviation, marine monitoring, low-altitude economy, and public safety [5][7]. Industry Insights - The phased array radar technology has evolved significantly since its inception in the 1960s, with advancements in computing and materials leading to reduced costs and broader applications. The technology is currently used mainly in military and aerospace sectors, but its potential for civilian applications is growing [6][7]. Technological Advancements - The integration of artificial intelligence (AI) with phased array radar is transforming its performance and application scenarios, moving from enhanced perception to autonomous decision-making. This shift is expected to create new business models and solutions in radar systems [8][12]. Product Development - The company is actively developing new products, such as a dual-polarization, all-solid-state, full-phase array rain radar that utilizes AI for precise rainfall estimation and hydrological monitoring. This product is part of a broader strategy to enhance capabilities in flood forecasting and disaster prevention [8][10]. Research and Development - Narui Radar has invested significantly in R&D, with a reported expenditure of approximately 78.48 million yuan in 2024, marking a 37.24% increase year-on-year. The company has secured numerous patents and continues to develop advanced radar systems, which have been recognized as internationally advanced [11][12].

Group 1 - The company achieved a revenue of 345,275,576.66 yuan in 2024, representing a year-on-year growth of 62.49% [2][3] - The net profit attributable to shareholders for 2024 was 76,612,908.51 yuan, with a year-on-year increase of 21.03% [2][3] - The company plans to maintain a certain level of R&D investment to enhance its core competitiveness and ensure continuous technological innovation [2][3] Group 2 - The company has signed contracts worth approximately 900 million yuan since the beginning of 2024, indicating optimistic bidding and product delivery conditions [2][3] - The company is actively expanding its international market presence and plans to establish a wholly-owned subsidiary in Hong Kong [3][4] - The company’s radar products are being tested in multiple cities, including Guangzhou, Shenzhen, and Zhuhai, with expectations for potential orders in the low-altitude economy sector [3][4] Group 3 - The company’s R&D investment for 2024 was 7,847.85 million yuan, accounting for 22.73% of its revenue [2][3] - The company is focusing on developing new products and enhancing software capabilities for various applications, including weather detection and public safety [4] - The company aims to become a global leader in radar system solutions by leveraging its core technologies and expanding its product offerings [4]

Industry Overview - China's low-altitude economy is rapidly emerging, supported by policy and technological innovation, with a market size exceeding 500 billion yuan in 2023 and expected to reach 1 trillion yuan by 2026, reflecting a compound annual growth rate of 28% over three years [1] Company Developments - Companies listed on the Sci-Tech Innovation Board are proactively positioning themselves in the low-altitude economy, with nearly 20 firms engaging in discussions about industry trends and future plans during the "Sci-Tech Hot Industry Week" [1] - Zongheng Co. is accelerating the iteration of its JOS-C700 vertical take-off fixed-wing and JOS-C200 multi-rotor unmanned systems, integrating AI decision-making algorithms and edge computing to enhance multi-machine collaborative operations and intelligent task planning [2] - Narui Radar has developed the TDKFT0104 Ku-band dual-polarization active phased array radar, applicable in various fields such as traffic management and border protection, with potential expansions into coastal monitoring and airport bird control [2] - Lais Information has completed the development of its "Tianmu" low-altitude flight service guarantee products, aimed at connecting the industry chain and establishing a comprehensive low-altitude service system [2] Localization Efforts - Zongheng Co. has achieved over 90% localization in its drone production and is continuously working on domestic alternatives for key components to reduce import dependency [3] - Narui Radar's products have independent intellectual property rights, with core components and materials largely sourced domestically, ensuring self-control over core technologies [3] - Lais Information's supply chain is primarily localized, with imported products making up a small proportion of overall procurement [3] Market Opportunities - Companies are seizing opportunities in the expanding low-altitude economy, leveraging AI and new technologies for growth [4] - Zongheng Co. plans to focus on product diversification, operational intelligence, and scaling applications by 2025, while enhancing AI and large model technology applications [4] - Narui Radar is broadening its market reach, with products already utilized in meteorological and water resource monitoring, and plans to establish a wholly-owned subsidiary in Hong Kong for international expansion [4] - Lais Information is actively developing low-altitude economic strategies for over 20 provinces and cities, achieving significant progress [4]