**Star News, on January 31, 2024, Bangyan Technology (688132) issued an announcement saying that Xingye **Shikang investigated our company on January 30, 2024.
The details are as follows:
Q: What is the reason for the company's declining performance in 2023?
A: During the reporting period, the operating income decreased significantly compared with the same period last year. Mainly due to factors such as customer delivery rhythm and acceptance delays, most of the company's product orders in the fourth quarter were delayed in delivery and acceptance, and revenue recognition was not achieved as scheduled, resulting in a decline in the company's operating performance in 2023.
In addition, during the reporting period, some of the company's expenses increased significantly. The company actively enhances the competitiveness of products, continues to increase R&D investment, and increases R&D expenses; In order to attract and retain talents, the company implemented the 2023** option incentive plan, and the cost of the incentive plan for the year was recognized during the reporting period. As of the end of the reporting period, the company still had orders in hand and production preparation notices of approximately 306.01 million yuan, and the net cash flow from operating activities increased significantly compared with the previous year. The company's orders in hand and cash flow are sufficient, which provides strong support for the company's subsequent performance development. Q: Will the qualification requirements affect the overall competition in the market?
Answer: The qualification requirements determine the characteristics of the overall competition in the market. The field of military communications has high industry access barriers, and the acquisition of corresponding qualifications is a necessary condition for business development in the industry. Due to the existence of industry access barriers, potential competitors outside the industry are difficult to enter, and enterprises with entry strength have not entered on a large scale due to different business models and relatively small market capacity, therefore, the number of competitive enterprises in the entire industry is not much, and the entire industry is in a stable competition pattern. Enterprises in the industry are mainly based on customer orders for research and development, production, with strong planning characteristics, product sales are less affected by fluctuations in market supply and demand, and the degree of marketization of the industry is not high.
Q: What modules are covered by the company's converged communication products?
Answer: The basic equipment of converged communication products includes command and dispatch servers, intelligent guidance and control servers, relay gateways, agile routers, audio codec equipment, converged communication service platforms, communication network control equipment and various communication command terminals, as well as self-developed core software, and can further constitute typical application systems such as rich command and dispatch, intelligent guidance and control, and agile network control according to demand. The delivery form includes a system-level product composed of basic equipment according to the requirements and a single basic equipment.
Q: What is the development prospect of the converged communications industry?
Answer: With the continuous innovation and development of communication systems, it will drive the application requirements of converged communication systems and the development of technology. The company will closely follow the relevant customer needs and update the communication equipment in the industry as the underlying infrastructure and facilities. In addition, with the increasing maturity of broadband access and next-generation network technology, the communication needs of the industry are developing from a simple voice-based communication mode to the integration of instant messaging, voice, conference, collaboration and other communication methods. In the future, the communication network in the industry will inevitably evolve to the all-IP technology system, and various services and applications will inevitably develop towards the trend of convergence.
Bangyan Technology (688132) main business: mainly engaged in the research and development, manufacturing, sales and service of information communication and information security equipment.
Bangyan Technology's third quarter report for 2023 shows that the company's main revenue is 16.3 billion yuan, a year-on-year decrease of 1081%；Net profit attributable to the parent company is 1613490,000 yuan, an increase of 174 year-on-year8%；Non-net profit deducted - 2871970,000 yuan, an increase of 2624%；Among them, in the third quarter of 2023, the company's single-quarter main revenue was 4247070,000 yuan, a year-on-year decrease of 2102%；Net profit attributable to parent company in a single quarter is -2880,000 yuan, an increase of 99 year-on-year83%；Non-net profit deducted in a single quarter was -2471970,000 yuan, a year-on-year decrease of 3946%；The debt ratio is 1724%, investment income 155940,000 yuan, financial expenses - 167140,000 yuan, gross profit margin of 6399%。
A total of 2 institutions have rated the stock in the last 90 days, ** 1 rated and 1 overweight rating; The average institutional price target over the last 90 days is 2833。
Here's the detailed profit** information:
Margin data shows that the stock has a net financing outflow of 299 in the past three months020,000, the financing balance decreased; The net inflow of securities lending was 160150,000, the balance of securities lending increased.
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