Naruida(SH:688522)2024-09-13 08:38Group 1: Market Trends and Company Outlook - The company is optimistic about the industry development trend over the next 2-3 years, driven by advancements in electronic information technology and national policies related to disaster prevention and reduction, water resource informationization, and low-altitude economy [3][4] - The company has signed a contract worth RMB 238.26 million for the procurement of 35 sets of X-band dual-polarization phased array weather radar systems, which is currently being executed normally [4][5] - The company’s radar products are gradually stabilizing in price, reflecting a stable market environment [4][5] Group 2: Financial Performance and Risks - The company has seen a significant increase in contract liabilities due to a rise in advance payments from customers, indicating strong demand [5][6] - The gross profit margin has slightly increased in the first half of the year, attributed to stable sales prices and reduced associated costs [6][7] - The company emphasizes the importance of managing accounts receivable to promote timely payments and reduce bad debt provisions [9][10] Group 3: Product Development and Market Expansion - The company is focusing on expanding its radar applications beyond meteorology and hydrology to civil aviation, marine monitoring, low-altitude economy, and public safety [5][6] - New radar products, including the C-band and Ku-band dual-polarization phased array radars, are still in testing and market promotion phases, with no market orders secured yet [7][8] - The company is actively seeking investment opportunities in upstream and downstream sectors that align with its main business to enhance its intrinsic value [5][6] Group 4: Corporate Governance and Shareholder Engagement - The company has completed its share repurchase plan as of August 31, 2024, and will disclose any future repurchase plans in accordance with regulatory requirements [10][11] - The company is considering a stock incentive plan that will be aligned with its strategic planning and business development [10][11]