Haige Communication and special institutional customers signed a 319 million yuan order contract

On November 17, Haige Communication issued an announcement stating that the company recently received an order contract (hereinafter referred to as the "Contract") signed with a special institutional customer, with a total contract amount of approximately RMB 319 million. It is understood that the counterparty of the contract transaction is a special institutional customer. The announcement shows that the subject matter of this contract is mainly wireless communication, Beidou navigation products and supporting equipment, and the contract delivery time is from 2020 to the corresponding months of 2022.

Haige Communication said: "The impact of the contract on the company is that the total contract amount is about 319 million yuan, accounting for 6.92% of the company's audited operating income in the most recent fiscal year. The performance of the contract will have a positive impact on the company's operating income and operating profit. The company will recognize revenue in the corresponding accounting period according to the contract requirements and the principle of revenue recognition. In addition, the performance of the contract does not affect the company's business independence, and the company's main business will not become dependent on the parties due to the performance of the contract."

The company also said: "The company has more than 60 years of professional experience in the fields of wireless communications and navigation. It is an expert in the development of Beidou navigation equipment with full-band coverage of wireless communications and full industrial chain layout, and a provider of electronic information system solutions. The main users include special agency users and the three major telecom operators, China Tower, government departments, public security, fire protection, transportation and other important sectors of the national economy. The company ranks among the top in the competition of multiple scientific research projects on the informatization construction of special agency users in the "13th Five-Year Plan". It can be foreseen that the market potential of special agencies will be broad in the future."