M&S ELECTRONICS(688311)2023-11-17 10:36Group 1: Company Overview - Chengdu Mingsheng Electronics Technology Co., Ltd. focuses on satellite application technology, specializing in the R&D and manufacturing of satellite navigation and communication terminal equipment [2] - Main products include satellite navigation terminals based on the BeiDou system and satellite communication antennas and components [2] - The company is expanding its product line into electronic countermeasure fields, investing in market development, technology, and talent [2] Group 2: Financial Performance - In Q3 2023, the company achieved revenue of approximately CNY 40 million, with a total revenue of CNY 274 million for the first three quarters, representing a year-on-year growth of 17.74% [2] - The net profit attributable to shareholders was CNY 11.557 million, a year-on-year increase of 16.75% [2] - The net profit, excluding non-recurring gains and losses, was CNY 3.1544 million, with a growth rate of 42.28% [3] Group 3: Q&A Highlights - The company has multiple phased projects in phased array antennas, applicable in various scenarios such as shipborne, airborne, and ground [3] - Current products and technologies are not yet applied in satellites [3] - There are no immediate plans for major shareholders to reduce their holdings following the lifting of share restrictions [3] - The decline in gross margin is attributed to product mix and rising raw material costs, with ongoing efforts to enhance cost control [4] Group 4: R&D Focus - The company prioritizes R&D investments to improve product quality, reduce production costs, and develop new products [4] - Continuous efforts are made to enhance production efficiency and quality management to meet customized market demands [4]