THD(SZ:300397)2023-02-02 22:52Group 1: Military Equipment Business - The company's military equipment business focuses on a new generation of integrated short-range defense systems, including portable air defense missile command systems and intelligent coastal defense systems [3] - In 2022, the company signed a contract for the upgrade of a certain type of portable air defense missile intelligence command system, which is expected to lead to continuous orders in the future [3] - The "14th Five-Year Plan" emphasizes the need to enhance national defense capabilities, which is likely to lead to sustained growth in military spending [3] Group 2: 5G Communication Industry Park - The "Xi'an Tianhe Defense Phase II - 5G Communication Industry Park" project is currently under accelerated construction, with the northern area focusing on 5G-related product lines [4] - The northern project aims to create a full industrial chain for 5G RF microwave devices, with the main structure already completed [4] - The southern area is planned to support the company's "Tianrong Big Data" capabilities, including a large-scale data center and computing center [4] Group 3: Tianrong Project - The "Tianrong Project" is a strategic business initiative that has been implemented in multiple locations, including Hainan and Shaanxi, and has received recognition from both military and civilian sectors [5] - The business model for the "Tianrong Project" is maturing and is expected to become a new growth engine for the company [5] Group 4: Financial Projections - The Tianrong Big Data (Xi'an) computing center project is expected to have an investment of approximately 21.5536 billion yuan for the first phase and 12.0114 billion yuan for the second phase, with an anticipated annual revenue of 31.6583 billion yuan once fully operational [6] - The first phase is projected to generate an annual revenue of 11.6583 billion yuan, while the second phase could accommodate 4,000 data professionals and generate an additional 20 billion yuan in annual revenue [6] Group 5: Employee Stock Ownership Plan - The company completed its employee stock ownership plan in 2021, purchasing 2,156,100 shares, which is 0.42% of the total shares, at an average price of 10.995 yuan per share [6] - The lock-up period for the purchased shares is 18 months, starting from September 30, 2022, until March 29, 2024 [6]