MeiG(SZ:002881)2022-11-21 05:32Group 1: Company Overview and Performance - Meige Intelligent has established a good reputation in the industry for its smart module products, which are increasingly applicable in various scenarios such as cloud computing, cloud gaming, facial recognition payment, smart connected vehicles, AR, XR, and the metaverse [2] - In 2021, the penetration rate of 5G products significantly increased, contributing to a substantial portion of the company's revenue [2] - The company invested heavily in 5G technology and product development in 2020 and 2021, making it a key development direction moving forward [2] Group 2: Product Development and Market Strategy - The company focuses on low-power design for embedded systems and operating systems, differentiating its software development from that of partners like Zhongke Chuangda, which emphasizes application-level software [3] - The company’s 5G smart module products are designed to meet the increasing demand for vehicle connectivity and intelligent systems, with a strong emphasis on technological leadership as a core reason for securing orders from car manufacturers [3] - The growth rates for the Internet of Things (IoT) connectivity, Fixed Wireless Access (FWA), and smart connected vehicles are all high, with FWA and smart connected vehicles growing faster than IoT connectivity [3] Group 3: Financial and Operational Insights - The gross margin for smart modules is higher than that of data transmission modules, indicating a favorable financial position for the company [3] - The company’s refinancing process is currently on hold due to an investigation involving its accounting firm, but it has submitted an application to the regulatory authority to resume the review process [3] - The company is expanding its overseas channels, particularly in Japan and Europe, and is experiencing positive market demand feedback and order generation despite initial pandemic-related challenges [3]