GTHT released a research report stating that the BeiDou system, as China's autonomous and controllable strategic space-time infrastructure, has formed large-scale application momentum across multiple fields through technological leadership and continuous policy support. Currently, the main driver of BeiDou industry development has shifted to the explosion of downstream application scenarios. BeiDou technology's empowerment in transportation, low-altitude economy and other scenarios is reshaping the industrial development landscape. The firm is optimistic about information technology companies that build differentiated competitiveness in professional or consumer application fields through "BeiDou+" integrated innovation technology. Related target: Information Development (300469.SZ).
GTHT's main viewpoints are as follows:
**BeiDou satellite navigation system, as China's independently constructed space-time infrastructure, extensively empowers various sectors of the national economy**
The BeiDou system has achieved global coverage, system compatibility, precision enhancement, and technological breakthroughs through its "three-step" strategy. Applications have deeply penetrated multiple industries and formed scale effects. In recent years, the satellite navigation industry centered on BeiDou has steadily expanded in scale, with continuous optimization of core output value and related output value structure. Its technological leadership and ecosystem completeness in the global market are increasingly prominent. Currently, BeiDou's large-scale application has entered a critical stage of market-oriented, industrialized, and internationalized development. The explosion of downstream application scenarios has become the core factor driving industrial chain development, and the penetration rate of BeiDou integrated applications is expected to further increase.
**BeiDou system becomes a globally leading navigation system, accelerating penetration into multiple industries and scenarios under continuous policy support and technological breakthroughs**
The BeiDou system possesses core advantages including mixed constellation, multi-frequency signals, and communication-navigation integration, ranking among the world's leading navigation systems. The country continues to introduce strong policy support across multiple fields, with downstream applications achieving dual enhancement in depth and breadth in both professional and consumer sectors. In recent years, BeiDou application policies in different fields have been intensively introduced, driving value release across the BeiDou industrial chain from top to bottom. This not only provides support for national critical infrastructure but also creates significant economic and social benefits. As the product foundation continues to strengthen, application fields accelerate expansion, and the industrial ecosystem becomes increasingly complete, "BeiDou+" integrated innovation is fully empowering thousands of industries, becoming an important engine driving economic and social development.
**BeiDou's application penetration in the transportation sector becomes a core growth pole, with Information Development achieving business expansion through "BeiDou + digital intelligence technology"**
In the transportation field, the BeiDou system supports the continuous expansion of the smart transportation market. "BeiDou + 5G" accelerates the evolution of autonomous driving technology toward the L3+ stage. BeiDou free-flow technology uses high-precision positioning to solve the billing challenges of smart highways, providing key support for traffic management in the new energy vehicle era. Information Development has constructed BeiDou free-flow and "six-in-one" safety governance systems in the smart transportation field. The company focuses on the "BeiDou + AI" strategic direction, specializing in promoting innovative and large-scale applications of BeiDou navigation and positioning technology in the transportation sector. Since 2023, the company has actively expanded business in BeiDou applications, transportation big data and other application fields. Today, the company actively promotes the application of BeiDou free-flow technology, the construction of vehicle networking platforms, and the application of transportation data services in various scenarios within smart transportation and safety production fields.
**Risk Warning:** Risks of domestic substitution of core components falling short of expectations, risks of lagging adaptation of industry standards and policies, and risks of intensifying market competition.