SMEI(SZ:300456)2022-12-05 01:16Business Overview - Beijing Nari Technology Co., Ltd. focuses on five main sectors: navigation, MEMS chips, avionics, unmanned systems, and intelligent manufacturing, with navigation, MEMS, and avionics as core businesses [3][4] - The company aims to become a leading private technology enterprise with high competitive barriers through organic growth and mergers and acquisitions [3] Financial Performance - The company expects a net profit of approximately CNY 23.62 million to CNY 27.79 million for the first half of 2017, representing a year-on-year increase of about 70% to 100% [3][4] - Significant revenue growth is anticipated from the newly added MEMS chip and avionics businesses, alongside existing military and civilian navigation applications [3][4] Sector-Specific Insights Navigation Business - The navigation business is expected to maintain stability or slight growth compared to the same period last year, influenced by seasonal factors rather than a long-term slowdown [4] - The domestic and international sales ratio is affected by the product structure, with fluctuations in export orders due to various factors [5][6] Avionics Business - The avionics sector, established in the second half of 2016, achieved approximately CNY 36 million in revenue with a high gross margin, and is projected to grow significantly in 2017 [5][6] - The company has established multiple subsidiaries to enhance its avionics product offerings and market reach [5] MEMS Business - The acquisition of Silex Microsystems aims to vertically integrate the supply chain and enhance capabilities in MEMS chip manufacturing, contributing to the company's growth in sensor-related businesses [6][7] - Silex's revenue is expected to continue growing, with a projected income of approximately CNY 150 million for the first half of 2017 [7] Strategic Development - The company is exploring financing options to support ongoing projects, particularly the 8-inch MEMS international foundry line, while being mindful of financing costs [8] - The military-civilian integration policy presents both opportunities and challenges, necessitating significant investment in personnel and resources to maintain competitive advantages [9][10]