Financial Performance - The company reported an increase in accounts receivable, reaching over 300 million, primarily due to slower payment speeds from some clients [2][3]. - The company’s revenue growth in Q1 2025 compared to Q1 2024 was stable, but profits declined due to normal operational fluctuations [3][4]. - The company has a total of 5,081 shareholders as of March 31, 2025 [1]. Business Strategy and Development - The company is actively expanding its product line beyond military applications to include fixed-wing aircraft, drones, and naval vessels, aiming to reduce operational risks associated with a concentrated customer base [2][3][4]. - The company has invested a total of 143 million in R&D over the past three years, which constitutes 50.82% of its cumulative revenue during that period [10]. Market Position and Risks - The company faces a high customer concentration risk, with the top five customers accounting for 97.67% of revenue [17]. - The stock price has been consistently below the issue price by over 30%, influenced by macroeconomic factors and market sentiment [7][10]. Future Outlook - The company is focused on enhancing operational performance to support market value and will disclose any significant developments regarding mergers or acquisitions in future announcements [11][12]. - The company anticipates a stable order book for 2025, with ongoing projects expected to be completed by the end of the year [5][6].
*ST恒宇(300965) - 300965*ST恒宇投资者关系管理信息20250430