Genew(688418)2024-11-11 07:34Financial Performance - The company achieved a revenue of 577 million CNY in the first three quarters of 2024, representing a year-on-year growth of 11.43% [1] - The net profit attributable to shareholders reached 16.61 million CNY, marking a turnaround from losses in the previous year [1] - In Q3 2024, the revenue was 201 million CNY, an increase of 3.53% compared to the same period last year, with a net profit of 8.88 million CNY, up 206.33% year-on-year [2] Operational Improvements - The improvement in financial metrics is attributed to the gradual recovery of overseas business and the expansion of the satellite internet market, leading to increased revenue from core network systems [2][3] - The company implemented strict cost control measures and improved project delivery, which positively impacted the gross profit margin [2] Strategic Focus - The company is shifting its strategic focus towards core network systems and optical networks, which have higher gross profit margins (over 50%) compared to previous projects [3] - The sales team is actively expanding into traditional markets like India and Southeast Asia, as well as new markets in Africa, to enhance overseas business [4][5] Future Growth Opportunities - The company plans to continue its strategy of globalizing basic communications and satellite internet, with expectations of significant growth in overseas public network business [5][6] - In the satellite internet sector, the company is involved in standard system construction and key technology research, aiming to capture more market share [6][7] Low-altitude Economy - The company is exploring opportunities in the low-altitude economy, focusing on developing communication products to support this emerging market [7] - Current efforts include research and market development for low-altitude operation platforms and communication equipment, although specific projects are still in the early stages [7]