"Science and Technology Innovation Board Daily" November 6th news (Reporter Yu Jiaxin) "With the attention paid to the first line of defense in meteorological disaster prevention and reduction in our country, we maintain an optimistic attitude towards the long-term demand and development of the meteorological radar industry." At the earnings conference for the third quarter of 2024, Narui Radar's Chairman and General Manager Bao Xiaojun said, "(The company) uses existing core technologies at the value chain end for research and development investments in areas deeply related to millimeter-wave radar, radar algorithm services, radar-specific chip design, and other areas that can enhance the company's core competitive advantages."

Narui radar's products mainly include X-band dual-polarization phased array radars and supporting hardware and software products and algorithm services, currently mainly used in meteorological detection and water conservancy rainfall measurement fields.

In the first three quarters of this year, Narui radar increased revenue but not profits, with revenue of 0.136 billion yuan, a 20% year-on-year increase; achieving a net income attributable to the parent company of 26.0087 million yuan, a decrease of 21.75% year-on-year.

Looking at a single quarter, the company's performance declined significantly in the first and second quarters of this year, but there was a rebound in the third quarter. In the third quarter, it achieved revenue of 63.4279 million yuan, a 53.45% year-on-year increase; net income attributable to the parent company was 20.1195 million yuan, a 45.11% year-on-year increase.

The company's CFO Lin Jingduan mentioned that the company's revenue in the first three quarters of 2024 mainly came from the sale of meteorological radar products, hydrological rainfall radar products, and some technical service revenues. This year, the company has newly developed the phased array rainfall radar market.

Regarding the gross margin, Lin Jingduan stated that the company's gross margin for the first three quarters of this year was 76.08%, compared to 76.33% last year, with product gross margin basically stable. Due to comprehensive factors such as market competition leading to a decrease in sales prices and an increase in supporting costs for sales projects, the gross margin in the third quarter slightly declined.

Regarding orders, Deputy General Manager and Secretary of the Board of Directors Gong Xuehua stated that the company currently has abundant orders on hand and high capacity utilization. As of September 30, 2024, the newly signed contract amount for 2024 is approximately 0.673 billion yuan. CFO Lin Jingduan added that the newly signed contract amount for the third quarter is approximately 0.13 billion yuan.

The Star Daily reporter noticed that in the early stages of listing last year, the company disclosed the progress of the '77GHz Automotive Millimeter Wave Radar' project, and in the 2023 financial report, the project name was changed to 'Automotive Millimeter Wave Radar', with an expected total investment scale of 5 million yuan. According to this year's semi-annual report, the cumulative amount invested in the project is 4.4085 million yuan, still in the research and development phase.

At the earnings conference, NaRay Radar's Chairman and General Manager, Bao Xiaojun, told the Star Daily reporter that the company's millimeter wave radar is in the product development stage and has not yet achieved sales.

On July 4th this year, NaRay Radar officially released the self-developed TDKFT0104 Ku-band dual-polarized active phased array radar. Bao Xiaojun stated that the above product can be used in various fields such as three-dimensional traffic, border protection, airspace management, and can be further expanded to applications in shore and sea monitoring, airport bird control, and other scenarios, as a new product for low-altitude economic development applications. "Currently, this product is in the testing phase and has not yet been sold."

Bao Xiaojun also stated that the global civilian application of their full-polarization active phased array radar is still in its early stages, and the company's products have now entered the Hong Kong market. "In the next 1-2 years, the company will use the Hong Kong market application scenarios as a benchmark and promote the company's mature products to more markets."