The "Science and Technology Innovation Board Daily" reported on September 24th (Reporter Qiu Siyu): In the first half of this year, due to the overall slowdown in the military industry, incremental price reductions in industry user demand, and multiple factors such as the reform of the military product tax system, Guoguang Electric's revenue declined.

Regarding performance, at the 2024 semi-annual earnings conference held today (September 24th), Guoguang Electric's Vice Chairman Wu Changnian stated that the revenue of the company's nuclear industry equipment and components declined in the first half of the year, but overall orders remained stable.

Guoguang Electric's main business involves research and development, production, and sales of vacuum and microwave application products, which include traveling wave tubes, magnetron tubes, gas-filled microwave switch tubes, microwave solid-state devices, nuclear industry equipment, pressure vessel vacuum measurement and control components, mainly used in aviation, aerospace, nuclear industry, new energy, and other fields.

From a business perspective, in the field of nuclear industry equipment, Director and General Manager of the company, as well as the Secretary of the Board of Directors Li Ning, mentioned during the earnings conference that the company has achieved the localization of key equipment and components of the nuclear industry, gaining customer approval, and has gradually achieved mass production and delivery. In September this year, the company jointly applied with the Southwest Institute of Physics of the nuclear industry for the "Highly Sensitive Leak Detection Technology Research and Application of Large Complex Components for Fusion Reactor" project, which has now reached international standards.

It is reported that in the first half of this year, the proportion of microwave device revenue increased, and the gross margin of certain technically challenging customized projects in the nuclear industry equipment was higher. Therefore, the overall gross margin increased in the first half of the year, with a year-on-year increase in total profit of 7.23%.

In the field of satellite internet, Vice Chairman Wu Changnian mentioned during the earnings conference that the electric propulsion core components developed by the company have been successfully applied in manned space engineering, low-orbit satellites, and other fields, with multiple models already in the engineering application stage. Currently, some products have entered the mass sales stage.

"Since entering 2024, the growth of orders for this component has been very significant." Wu Changnian further added, "At the same time, with the rapid development of the low-orbit satellite field, the company has established cooperative relationships with many domestic electric propulsion unit manufacturers. In the future, the company will continue to increase investment in technical research and development, improve technical solutions, etc."

In the first half of this year, the company newly obtained a total of 4 domestic invention patents and utility model patents, including 3 invention patents and 1 utility model patent in research and development.

However, it is worth noting that the progress of the Guo Electric's fundraising project is relatively slow. In response to this, Director, General Manager, and Board Secretary Li Ning explained at the earnings conference: "Due to the impact of previous public health events, power rationing due to high temperatures, subway line construction, and local large-scale events and other objective factors, the company's fundraising progress has been relatively slow, there is a short remaining construction time, and some of the raised funds have not been used, posing a certain risk of delay."