I. Overview
In the first half of 2020, in the face of the sudden new Crown pneumonia epidemic, China's economy and the global economy have experienced great challenges, in the country's unified leadership of the country's various industries work together to bring the epidemic under control, but the situation of the epidemic overseas is still with the Uncertainty. Under the influence of the epidemic as well as the normalization of prevention and control, the Company fully mobilized its internal enthusiasm and continued to maintain the strategy of dual-line development of military and civilian around the annual business objectives, focusing on the development of the five main businesses of radar system, intelligent ammunition, satellite application, security storage and intelligent network connection. In view of the characteristics of each business direction, we combined the national "new infrastructure" and other new economic policies to expand our business. Through the efforts of various aspects, the overall contracted amount maintained growth in the first half of the year. During the reporting period, the company realized operating income of 45,662.90 million yuan, down 2.61% compared with the same period of the previous year; realized operating profit of 84,140.80 million yuan, down 10.12% compared with the same period of the previous year; realized net profit attributable to owners of the parent company of 58,414.49 million yuan, down 15.38% compared with the same period of the previous year.
1, radar system business
During the reporting period, the radar system field in the military and civilian dual-line development. The company in this reporting period in the military market continues to deepen, special radar models into mass production, key models to achieve technological breakthroughs; civil radar market, in a number of key industries of the national economy to expand. A special high-resolution special millimeter wave radar, in the customer test than the test achieved a success rate of 100 percent of the results, successive access to more than one set of new orders; a variety of radar products into a military special radar general domestic computer standards directory, and access to a number of special radar models such as a project transformation project, the subsequent value of considerable;
With the domestic mainstream CPU chip company strategic depth of cooperation, complete the domestic CPU-based transformation project, the company has been able to achieve the same result, the company has been able to achieve the same result.
The strategic depth of cooperation with domestic mainstream CPU chip companies, complete the general radar signal processing module based on domestic CPU, and to the radar processing field to promote the application;
Independent research and development of anti-null radar in the customer's organization of the competition excellence in the test, and access to the purchase order, to achieve a breakthrough in the market for civilian products to promote; Suzhou Polytechnic Raytheon completed the research and development of a new generation of MIMO-type slope radar, the product officially on the market and access to commercial orders; Meanwhile, as a supplier of core radar sensors, it participated in the construction of FOD (Foreign Objects on Airport Runway) detection system of Tianfu Airport of Civil Aviation II; Xi'an Hengda Company has successfully applied its military millimeter-wave radar antenna technology to the field of 5G communication, and developed a certain high-precision millimeter-wave transmission antenna for the large-volume application scenario of 5G base station, and the development of the first set of performance prototypes has been successful and is expected to realize a promising market prospect after its successful approval. Production can be realized after the successful batch market prospects.
2, smart munitions business
The company this report period, in the field of smart munitions, continue to maintain the speed of business advancement, new products began to quantitative production.
Two types of bullet on the computer has begun mass production, the expected benefits are considerable; image guide head product algorithms to obtain a major breakthrough, based on the intelligent function of the image technology products successfully completed the closed-loop test, and achieved good results; related products to form a serialization of the standard products, the market has made a major breakthrough in promotion.
3, satellite application business
The company in the reporting period, the reporting period, the satellite application business continues to maintain the industry's advantages, to participate in a number of national key project tasks.
In the star field, as the core sub-system development unit, to ensure that the key models of the development and delivery of the task as the primary goal, to continue to maintain the industry's leading position, which guarantees the "a census satellite" and "high-fraction multi-mode satellite" launch mission, are now in orbit normal operation. The company actively explores the integration of heaven and earth, low orbit satellite communication applications, has undertaken a number of star-carrying, ground station microwave product development tasks, and has realized part of the delivery.
In the field of ground remote sensing, the company is y involved in the 13th Five-Year Space Infrastructure Construction Project of the Chinese Academy of Sciences, providing four sets of complete channel equipments for domestic and overseas stations, and channel sub-system equipments for a series of major special projects; in the field of ground mobile reception of remote sensing satellites, the company has successfully signed contracts with customers of the navy, land, and the Rocket Force to provide key supporting services through internal business synergies;
In the field of satellite navigation, the company is oriented to the application market of BeiDou. In the field of satellite navigation, for the Beidou application market, to promote the rapid development of Beidou navigation business, the company and the China National Instruments Industry Corporation,
The establishment of the North Lei Ke (Anhui) Science and Technology Co. At the same time, the business to maintain a steady progress in the military, civilian dual-line development. In the military market, a number of models of tasks in mass production, Beidou 3 core basic components to make breakthroughs; civil navigation, in the automotive ADAS, mining driverless areas such as cut into the market.
4, security storage business
During the reporting period, in the field of security storage business, the overall business progress is in line with expectations, to complete the annual task objectives.
SSD storage disk business in the military field has achieved steady growth in the field of aviation related products to achieve mass production and delivery to customers; the follow-up there are a number of projects to enter the finalization stage;
In the field of data center business, for the agricultural industry for the application of radar monitoring technology, the professional data center needs, began the pre-product pre-development work for the later customer projects to do. Reserve.
5, intelligent network business
The company in the reporting period, intelligent network business, a number of industry-leading level of product research and development success, to lay a good foundation for business development.
The company's subsidiary, Polytechnic Rui Xing, and the Hebei Provincial Transportation Planning and Design Institute of the "over-the-horizon millimeter-wave traffic radar," the core technology and hardware and software research and development to reach a comprehensive cooperation and signed a cooperation agreement, recently completed the "highway over-the-horizon radar high-precision detection technology research and application" project. Recently, the company completed the evaluation of the results of the project "Highway Ultra Distance Radar High Precision Detection Technology Research and Application", and the overall technology has reached the international advanced level;
The company's shareholding company, Polytechnic Lei Ke Zhi Tou, innovatively carried out the business model of "ADAS products + insurance + service", successfully expanded the market, and won the bid for the China Life (601628) Property Insurance Co. 601628) Property and Casualty Insurance Co., Ltd. won the bidding of "ADAS+AEBS system service project".
Second, the company faces risks and countermeasures 1, business management risks The company through mergers and acquisitions and restructuring and other ways to achieve the transformation of the main business, mergers and acquisitions and restructuring plan on the company's existing strategic planning, rules and regulations, organizational structure, operating model, internal control, marketing, financial management and other aspects of the greater challenge. The management of the Company needs to adjust the management structure of the Company in a timely manner in accordance with the new development objectives, and at the same time select appropriate managers to supplement the new departments. If the decision is wrong, it may hinder the development of the Company. The Company will endeavor to improve its internal management system and processes to adapt to the rapid changes in the market environment in accordance with the adjustment of its main business. 2. Business Integration Risk The company gives full play to the synergistic effect of both parties in technology research and development, industrial application, sales channels and customer resources through M&A and reorganization, and strives to maximize the efficient integration of both parties in terms of corporate culture, team management, technology research and development, sales channels, customer resources and other aspects. However, due to the two sides in the corporate culture, organizational model and management system and other aspects of the existence of certain differences, will result in the integration of the two sides to achieve complementary and synergistic effect, whether to achieve the expected best results of the time required there is a certain degree of uncertainty, if there is a failure to successfully integrate the company, the company's operations may be negatively impacted, thus bringing the company to the risk of business integration. 3, the risk of personnel loss The company is a technology-intensive enterprise, with a stable and high level of research and development team is the key to business survival and development. The company has formulated a set of more scientific performance evaluation system, through continuous improvement of scientific research and innovation incentive mechanism, and strive to improve the sense of achievement and sense of belonging of research and development personnel. The above incentive system has played an important role in stabilizing the core technical staff. However, with the rapid development of the industry, the competition for talents will become increasingly fierce, and there is a risk of loss of the company's core technical personnel in the future. 4, epidemic risk 2020 sudden epidemic, the company's operations in the capital, market development, supply chain, foreign trade business and production and other aspects have caused some risk. Affected by the epidemic, foreign component suppliers production is restricted, there is a potential risk of affecting the company's production cycle, affecting product delivery.
Third, the core competitiveness analysis The company's core competitiveness is mainly reflected in the independent intellectual property rights, strong R & D capabilities and excellent technical personnel, as follows: 1, independent intellectual property rights The company has full independent intellectual property rights, covering radar systems, intelligent ammunition, satellite applications, security storage, intelligent network and other industrial directions, mastering the new system of radar, radar high-speed real-time signal processing, full-frequency phase-control system. The company possesses core technologies such as new system radar, radar high-speed real-time signal processing, full-band phased array, precision guidance, autonomous and controllable security storage, and multi-source remote sensing information processing algorithm, etc. At present, the company owns 65 invention patents. At present, the company owns 65 invention patents, 125 utility models and 22 designs, totaling 212 patents. 2、Excellent talent team The company adheres to the talent concept of "people-oriented, cultivate first-class talents", and has attracted a large number of outstanding talents to join. Among them, there is one academician of Chinese Academy of Engineering, one expert of BeiDou Navigation Major Special Project Expert Group, four experts of Professional Group of the Ministry of Equipment Development, one person of Beijing Ten Million Plan, and 30 people with doctoral degrees in the R&D team. 3、Leading technical advantages The company has mastered a number of core technologies such as multi-source remote sensing information processing algorithms, independent high-performance processing chip, new system radar system, full-band phased array surface, millimeter-wave radar, independently controllable storage, precision guidance, multi-type antenna technology, motion platform and servo control technology, etc. The relevant technological achievements have reached the domestic and international standards, and have been widely recognized by the international community. The relevant technical achievements have reached the domestic and even international leading level, the company's core technical backbone to participate in the second prize for national technology invention, in the military equipment bidding to achieve five physical than the first place in the test. 4. Advantage of innovation ability The company has always insisted on independent innovation and continuously increased investment in technology research and development, and set up research institutes in Beijing and Xi'an to carry out research and innovation in the fields of new system radar, satellite navigation, integrated circuits and other related technologies. The company's innovation ability has been recognized by the state, and it has obtained 50 million major pre-research projects in the field of radar; during the 13th Five-Year Plan period, it has undertaken 15 provincial and ministerial-level projects and 85 model tasks in total. Its wholly-owned subsidiary, Polytechnic Leike, has been approved to set up a postdoctoral research station, and has been awarded the honor of Beijing Enterprise Technology Center. 5, chip R & D advantages The company has a professional core chip R & D team, focusing on real-time processing on the star, radar signal processing, satellite navigation, information security applications and other areas of independent chip R & D, has completed the optical remote sensing image processing chip on the star, the star integration of the SAR imaging processing chip, the military/civilian BeiDou baseband processing chip, SSD security storage and control chip, and so on. The company has the chip R & D capability, can solve a series of "neck" problem for the country, at the same time, can enhance the core competitiveness of the whole product. Relying on the company's comprehensive advantages and complete industrialization layout, the company has the ability to integrate domestic and foreign technical resources, industry associations, industry customers, and upstream and downstream industry chain enterprises through upstream and downstream cooperation, mergers and acquisitions in the direction of radar system, intelligent ammunition, intelligent network and other industries, to create a complete industry chain and ecosystem, and to provide satisfactory products and services for the military, the industry and consumers. products and services for the military, industry and consumers. In this reporting period, the company completed the acquisition of Hengda Microwave, and realized the core industry chain integration of radar machine in conjunction with Polytechnic Leike and Suzhou Bohai, which further enhanced the core competitiveness. 7, complete industry qualifications The company's subsidiaries have been certified by the state to engage in military product development and production of a full set of military access qualifications required for the company's military with civilian, military-civilian integration of sustainable development of business development ideas laid the foundation. For the automotive intelligent network industry, the company has obtained the qualification of IATF16949:2016 (technical quality management standard for automotive industry) from Germany Rheinland. 8, the integration of production, learning and research advantages As the first disciplinary company of Beijing Institute of Technology (BIT), the company has a deep cooperation relationship with BIT in production, learning and research, and is a platform for the transfer and incubation of technical achievements of BIT; it is y involved in the construction of offsite research institutes of BIT, respectively, in the construction of Chongqing Research Institute of BIT, Changshu Research Institute of BIT, Jinan Research Institute of BIT, and Xi'an Research Institute of BIT. The company is also y involved in the construction program of NIT's off-site research institutes.