Haige Communications(SZ:002465)2022-12-08 01:18Group 1: Business Overview - The company has nearly 60 years of history in military communication and navigation industries, forming a complete Beidou industry chain from antenna to system [2][3] - In 2014, the Beidou navigation business generated revenue of 360 million CNY, with a 72% year-on-year growth in the first half of 2015 [3] - The Beidou navigation business accounted for approximately 12% of total revenue in 2014, with 80% of that from defense applications [3] Group 2: Business Segments - The company operates in ten major business areas, including wireless communication, Beidou navigation, satellite communication, digital trunking, chip design, maritime electronics, simulation, radar detection, spectrum management, and information services [3][5] - The company has successfully entered the simulation business through the acquisition of 90% of MoJie Innovation, with expected net profits of 40 million, 50 million, and 60 million CNY for 2013, 2014, and 2015 respectively [4][5] Group 3: Market Position and Growth - The company has established a leading position in mobile communication services, with new contracts exceeding 1 billion CNY in the first half of 2015 [4] - The digital trunking business is expected to grow rapidly due to the increasing demand in specialized wireless communication markets [4][5] - Future growth is anticipated in wireless communication, Beidou navigation, satellite communication, and simulation sectors [5] Group 4: Corporate Governance and Reforms - The company has been at the forefront of state-owned enterprise reforms, implementing an employee stock ownership plan approved in July 2015, involving over 1,000 employees, accounting for about 20% of the total workforce [5] - The company plans to continue mergers and acquisitions focusing on military-civilian integration and high-end information services, particularly in Beidou navigation and satellite communication [5]