北方导航20240520

Summary of North Navigation Control Technology Co., Ltd. Conference Call Company Overview - North Navigation Control Technology Co., Ltd. is headquartered in Beijing Economic and Technological Development Zone with a registered capital of 1.499 billion yuan. As of December 2023, the company has total assets of 7.29 billion yuan and net assets of 2.71 billion yuan. It is recognized as a high-tech enterprise and a key military enterprise in China. The company was established in 1960 and is controlled by China Weapon Industry Group, with its subsidiary North Navigation Technology Group as the major shareholder [1][2]. Core Business and Operations - The company focuses on dual-use military and civilian products, primarily in navigation control and ammunition information technology. Its product range includes guided control, navigation control, detection control, environmental control, stability control, radio and satellite communication, electrical connectors, and unmanned aerial vehicles. North Navigation holds a leading position in these fields within China [4]. Financial Performance - In 2023, the company reported operating revenue of 3.565 billion yuan, a decrease of 7.16% year-on-year. The net profit attributable to shareholders was 192 million yuan, an increase of 3.90%. The net profit after deducting non-recurring gains and losses was 177 million yuan, up 26.71% [5]. - For Q1 2024, the company achieved operating revenue of 79 million yuan, a significant decline of 86.54% year-on-year. The net profit after deducting non-recurring gains and losses was -59 million yuan, a decrease of 387.36% [6]. Dividend Distribution - The dividend plan for 2023 proposes a cash dividend of 0.4 yuan per ten shares, amounting to approximately 59.98 million yuan. The actual distribution will be based on the total share capital on the dividend record date [7]. Subsidiary Performance - The three subsidiaries reported the following: - Zhongbing Communication Technology Co., Ltd.: Revenue of 445 million yuan, net profit of 53 million yuan. - Zhongbing Hanglian Technology Co., Ltd.: Revenue of 31 million yuan, net profit of 52 million yuan. - Hengyang North Optical Information Technology Co., Ltd.: Revenue of 220 million yuan, net profit of 70 million yuan [8]. Highlights of the Report - The company has made significant progress in equipment construction, technology innovation, digital empowerment, and safety quality management. It completed 86 project developments and 78 technological innovations in key equipment support [10]. - Digital manufacturing capabilities have been enhanced, with the completion of various digital systems and projects, including ERP and logistics systems [11]. - Safety and quality management systems have been strengthened, achieving no serious quality issues or safety accidents throughout the year [13]. Risk Management and Compliance - The company has developed a comprehensive risk management and internal control system, implementing 113 risk response measures and revising over 40 internal regulations to enhance compliance and legal management [16]. Talent Development - The company has recruited 40 master's and doctoral graduates and established a national-level postdoctoral research station, enhancing its talent pool for technological innovation [15]. Conclusion - North Navigation Control Technology Co., Ltd. is focused on high-quality development through technological innovation, digital transformation, and robust risk management, despite facing challenges in revenue generation in early 2024. The company remains committed to its strategic goals and improving operational efficiency [10][14].