It is a leading mobile communications independent innovation enterprise, and its market competitiveness continues to improve. The company is a core participant and driving force in the global 5G wireless mobile communication industry. It is a core member of China's IMT-2020 (5G) promotion team, the main undertaker of national 5G technology projects such as the national “863 Plan” and “Major Science and Technology Project 3”. It has fully participated in the formulation of standards for multiple versions of 5G systems, and has made unique contributions in the fields of multi-antenna technology, TDD air port design, energy saving technology, and high-precision positioning technology.

In 2023, the company won China Mobile's bid for 5G wireless main equipment collection from 2023 to 2024. The winning share of the bid increased rapidly. Domestic operators' wireless main equipment and base station antenna business maintained steady growth, and market competitiveness continued to improve.

The key ability of 5G-A, “synesthetic integration”, is the cornerstone of the development of the low-altitude economy industry. On March 27, four departments including the Ministry of Industry and Information Technology issued the “Implementation Plan for Innovative Application of General Aviation Equipment (2024-2030)”, which proposes top-level designs for general aviation equipment and the development of a low-altitude economy. The goal is to achieve safe and efficient operation of low-altitude production and operation networks by 2030, and the low-altitude economy to form a trillion-level market size. 5G-A/5.5G introduces integrated sensing technology, which can achieve full-range and high-precision sensing, and is expected to become the core communication technology for low-altitude economic air traffic control systems. The company is the deputy leader unit of the IMT-2030 (6G) Promotion Group Communication Sensing Integration Task Force. It led the research on the “Wireless Communication and Wireless Sensing Fusion Technology and Solution Research” project of the China Communications Standardization Association and completed the testing of related concept prototypes. The company created a new prototype product and technical solution with integrated sensing, and completed the IMT-2020 (5G) propulsion group 5G synesthesia integration demonstration verification based on millimeter waves, enabling the further development of the low-altitude economy and smart transportation industry.

Deeply laid out in the field of satellite Internet, 5G satellite Internet solutions were first applied to the stars. The company has a deep strategic layout in the fields of satellite and terrestrial integration and satellite Internet, and has a unique first-mover advantage. In 2023, the company's 5G satellite Internet solution achieved its first satellite application, while building a full range of product capabilities such as communication payloads, antennas, core networks, and instruments, and the product lineup was further enriched. In June 2023, the “Future Technology Trends for Satellite International Mobile Communications (IMT)”, in which the company participated deeply, passed the ITU-R project as the first 6G-oriented satellite research project.

Profit forecast: ICT Mobile is a leading mobile communications manufacturer in China. It is optimistic that the company's satellite Internet and 5G-A businesses will benefit from the high prosperity and rapid development of the industry. The company is expected to achieve operating income of 78.84/100.08/12.246 billion yuan in 2023-2025, and achieve net profit of 3.70/0.55/ 337 million yuan, corresponding to EPS of -0.11/0.02/0.10 yuan. This is the first coverage, giving it a “buy” rating.

Risk warning: Businesses such as 5G-A/satellite internet have fallen short of expectations, and market competition has intensified.