CORPRO(SZ:300101)2023-05-12 12:16Group 1: Business Overview - The company operates in three main sectors: integrated circuits, Beidou navigation applications, and smart city construction services, with a focus on synergy among these areas [1] - The integrated circuit products include a variety of Beidou series chips and video chips, providing a hardware foundation for navigation and smart city services [1] Group 2: Market Expansion and Technology - The company is transitioning from a component provider to a platform and intelligent service provider, leveraging core technologies such as VSLAM and autonomous obstacle avoidance [2] - The company is actively developing products for low-orbit satellite construction, with its integrated circuit products applicable in ground facilities and communication terminals [2] Group 3: Research and Development - Key R&D projects are progressing, including the Beidou third-generation products, which are currently in the technical verification and small-scale implementation phase [3] - The company focuses on mixed-signal integrated circuits, particularly in converters, clocks, and high-speed interfaces, while also advancing technologies in Beidou navigation and intelligent video systems [3] Group 4: Financial Performance - In Q1 2023, the company's operating cash flow was -103 million yuan, a decrease of 340.61% year-on-year, primarily due to increased payments to suppliers and employee bonuses [4] - Accounts receivable reached 883 million yuan, with a credit impairment loss of 7.93 million yuan, reflecting a year-on-year increase of 1102.14% [4] Group 5: Challenges and Management - The decline of 45.62% in Beidou navigation applications compared to the previous year was attributed to delays in the delivery of customer-supplied components [4][5] - The company emphasizes the importance of managing accounts receivable through optimizing customer structure and establishing credit management mechanisms [4]