Gelonghui, November 16 | Tianfeng Securities Research Report points out that Guoguang Electric (688776.SH) is deeply involved in the field of microwave devices and has formed a two-wheel drive for vacuum devices and solid-state devices. In particular, it has remarkable advantages in the field of vacuum devices. As electronic confrontation and low-orbit satellite construction advance, the microwave device business is expected to continue to develop. At the same time, the development of the nuclear industry is accelerating, and demand is strong. Maintain a “buy” rating. The company closely follows customer needs and attaches great importance to R&D. The total R&D investment in the third quarter of 2023 was 10.7047 million yuan, compared with 7.424 million yuan in the previous period, an increase of 44.19% over the previous period. The main reason is that the company's R&D investment changed dynamically according to industry development and customer needs, and R&D projects and expenses increased in the single third quarter.