NOVA TECH(300921)2024-11-06 09:22Group 1: Financial Performance - As of September 30, 2024, accounts receivable amounted to 147.75 million CNY, an increase of 10.13% compared to the end of the previous year, with an increase of 13.59 million CNY [1] - The majority of new accounts receivable are concentrated within one year, indicating manageable risk levels [1][2] - The company has implemented various risk management strategies for accounts receivable, including customer credit assessments and legal follow-ups on overdue debts [1] Group 2: Overseas Business Development - The company has established network nodes in 13 countries and regions outside mainland China, collaborating with 66 overseas operators or institutions for global resource coverage [2] - The company aims to enhance its overseas business layout and has set up subsidiaries or offices in Hong Kong, Taiwan, Singapore, Japan, and the UK, obtaining telecom operation licenses in Hong Kong, Singapore, and Japan [2] Group 3: Research and Development Investment - R&D expenses have increased significantly, with 2021 expenses at 52.44 million CNY (up 57.45%), 2022 at 55.55 million CNY (up 5.94%), and 2023 at 58.07 million CNY (up 4.52%) [3] - In the first three quarters of 2024, R&D expenses were 45.80 million CNY, reflecting a 1.84% increase [3] - The company has launched self-developed products like SD-WAN and SASE, focusing on integrated network security solutions [3] Group 4: Market Strategy and Customer Structure - The company is focusing on expanding its market share through diverse promotional strategies, aiming for a gross margin of over 40% for its self-developed SD-WAN/SASE business [3] - The top three industries served by the company are manufacturing, wholesale and retail, and information technology services, with a significant portion of clients being foreign enterprises [4] - The company has established an ecological division to collaborate with telecom operators and cloud service providers, targeting government and Fortune 500 clients [4]