Hwa Create(SZ:300045)2025-05-07 10:18Financial Performance - In 2024, the company achieved a revenue of 547 million, a year-on-year decrease of 22.93%, reflecting a common trend in the industry [3] - In Q1 2025, the company reported a revenue of approximately 137.3 million and a net loss of approximately 17.4 million [4] Industry Context - The overall performance of the industry is under pressure due to intensified market competition and delays in order deliveries [3] - The military electronics industry is expected to maintain an average growth rate of around 9% during the "14th Five-Year Plan" period, driven by domestic substitution and technological integration [5] Strategic Initiatives - The company plans to adhere to a "military-civilian integration" development strategy, focusing on expanding into new civilian market areas [3] - Investment activities are primarily directed towards acquiring fixed assets and intangible assets to support future business growth [6] Product Development - The company has developed satellite communication baseband chips for consumer electronics and is actively expanding applications in automotive and low-altitude economy sectors [3] - The company is advancing its product offerings in the unmanned systems sector, including various types of drones and related services [6][9] Supply Chain Management - The company has established a quality control system for procurement management and utilizes ERP systems for comprehensive management and monitoring of raw material procurement [6] Market Expansion - The company is focusing on the low-altitude economy and commercial aerospace sectors, leveraging its expertise in satellite communication and navigation [12][13] - Plans are in place to establish a sales team targeting international markets and to enhance communication with overseas clients [13] Future Outlook - The industry is expected to see continued growth driven by government support for satellite applications and increasing market demand for satellite internet and simulation testing [12] - The company aims to balance technological innovation with market expansion, ensuring a sustainable growth cycle [13][14]