Genew(SH:688418)2024-05-15 07:36Group 1: Financial Performance - The company's Q1 profit growth reached approximately 47% compared to the same period last year, driven by sufficient orders and steady project deliveries [1] - The total contract liabilities at the end of 2023 were about 157 million CNY, an increase of 82.69% year-on-year, and by Q1 2024, it rose to approximately 337 million CNY, reflecting a growth of 114.84% [2] Group 2: Prepayments and Orders - Prepayments in Q1 2024 exceeded 200 million CNY, primarily due to equipment procurement and chip payments related to smart network and emergency system projects [2] - The increase in prepayments is attributed to the recovery of overseas business and the acceleration of domestic satellite internet construction, leading to a rapid growth in orders [2] Group 3: Research and Development Focus - The company is currently focusing on four main business areas: core network systems, optical networks, smart networks, and technical maintenance services, with an emphasis on advanced technology [2] - Key R&D areas include industrial internet applications, satellite internet technologies, and next-generation optical access products [2] Group 4: Strategic Planning - The company aims to globalize basic communications and satellite internet strategies, focusing on core product domestic substitution and expanding into the global telecommunications market [3] - Plans include strengthening cooperation with China Telecom and developing ground segment core networks and NTN solutions [3] Group 5: Satellite Communication Solutions - The company's satellite communication solutions fully comply with international 3GPP standards, ensuring long-term market demand satisfaction [3] - A contract worth 112 million USD for a satellite communication project is currently in the early stages of customer requirement discussions and solution validation [3]