中无人机(688297) - 投资者关系活动记录表（2024年5月）

Product Performance - The company's main products are medium to high-altitude large fixed-wing long-endurance drones, with maximum endurance times exceeding 24 hours. The Wing Loong-1 drone has a maximum flight speed of 280 km/h and a maximum endurance of 24 hours; the Wing Loong-1D has a maximum endurance of 35 hours; and the Wing Loong-2 has a maximum speed of 370 km/h and an endurance of 28 hours [2] - The Wing Loong-10 drone system is expected to be injected into the company after meeting conditions, while the Wing Loong-3 drone system is under development with comprehensive improvements in load capacity, flight altitude, distance, and endurance [2] Financial Performance - Sales expenses increased by CNY 191,800 in 2023, a growth rate of 0.97%, mainly due to personnel costs and other expenses for market expansion [2] - The company's gross margin has declined due to the customized production characteristics of drone systems, with domestic market sales gradually increasing, which have lower gross margins compared to military trade markets [2] Competitive Advantages - The Wing Loong series drones have mature performance and high reliability, having undergone practical testing. The company has established application research capabilities to modify products based on user needs [2] - The company is actively improving its rapid response capabilities and cost control measures to enhance competitiveness [3] Market Outlook - The military trade market is expected to face pressure this year due to increasing competition and geopolitical factors, leading to high uncertainty [3] - The domestic market is anticipated to grow, benefiting from expanding application scenarios in military and civilian markets, supported by industry policies [4] Low Altitude Economy - The company is focusing on the low-altitude economy, with the Wing Loong-2 successfully completing its first cargo logistics flight test on April 28, 2024 [3] - The company is developing multiple small drones under 1 ton to meet low-altitude economic demands and is actively engaging with local governments to explore market needs [3] Future Product Development - Future products include the Wing Loong-3 drone system and various models under 1 ton, with a focus on comprehensive coverage of market demands [5] - The company is enhancing its product line to include high, medium, and low-altitude drones, ensuring a diverse and competitive product offering [6] Value Management - The company emphasizes value creation in its market management strategy, focusing on core business strengths and maintaining good communication with investors [7]