ComNav Technology (SH:688592)2024-09-27 07:37Group 1: Company Overview - The company, SiNan Navigation Technology Co., Ltd., is involved in the development of navigation chips and has launched its fourth-generation chip, QC7820, which has significant improvements in cost, power consumption, size, and anti-interference capabilities compared to the previous generation [3]. - The QC7820 chip is based on a 22nm low-power design, featuring a dual-core processor with a main frequency of 800MHz, capable of reaching up to 1.2GHz, and supports high-performance floating-point operations and wideband RF signal input [3]. Group 2: Market and Regulatory Environment - The recent national regulations require electric bicycles to have BeiDou satellite positioning capabilities, supporting the reception of BeiDou B1C and B2a signals, with a 6-month transition period for implementation [3]. - This regulation is expected to benefit the BeiDou satellite navigation industry, aligning with the company's investment projects and periodic reports [3]. Group 3: Product Development and Future Plans - The company plans to develop a low-cost, high-precision navigation chip project, which is included in its IPO fundraising projects, targeting mass production by 2025 [4]. - The current progress of the navigation chip project is in line with the company's expectations as disclosed in the 2023 and 2024 semi-annual reports [4]. Group 4: International Market Expansion - The company's products are sold in over 140 countries and regions, including more than 50 countries along the "Belt and Road" initiative, establishing good partnerships with local distributors [5]. - In 2023, overseas sales accounted for 25% of the company's total revenue, with the main products being RTK receivers, agricultural navigation products, and high-precision GNSS modules [5]. Group 5: Strategic Growth Plans - The company plans to expand through mergers and acquisitions within the satellite navigation industry chain to seek synergistic development [5]. - There are no undisclosed plans for acquisitions at this time, but the company will comply with disclosure obligations as per relevant regulations if any plans arise [5].