Research on Tech Companies

Evelyn Zhang

Over decade experiences in  Morgan Stanley, Bank of America Merrill Lynch, Agricultural Bank of China, Lenovo. 
Expertise include research and investment into tech companies of all stages. 
Asset management, private equity, strategic investment, investment banking,  equity research, corporate finance; particular focus on emerging technology.

Thematic (Sector/Industry)

China Industrials / Thematic (Sector/Industry)

China Aerospace Times Electronics (600879 CH)

<ul>
<li>In modern warfare, UAVs have unbeatable advantages: zero casualties, low overall cost, strong maneuverability, strong adaptability to the environment, with a higher proportion of payload,  and will be widely used.  </li>
<li>Military UAV growth mainly depends on the defense spending. Israel, the United States, and China dominate the military UAV trade market.</li>
<li>Top listed Chinese producers ranked by UAV revenue (in RMB) in 2021: <a href="https://www.smartkarma.com/entities/avic-chengdu-uas-co-ltd" target="_blank" data-smartkarma-citation="entities:36280:1" rel="noopener">China AVIC (688297 CH)</a> (2.48bn); <a href="https://www.smartkarma.com/entities/zhejiang-nanyang-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:16813:1" rel="noopener">Zhejiang Nanyang Technology Co,Ltd. (002389 CH)</a> (1.12bn); <a href="https://www.smartkarma.com/entities/china-aerospace-times-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:3330:1" rel="noopener">China Aerospace Times Electronics (600879 CH)</a> (780mn).</li>
</ul>


In modern warfare, UAVs have unbeatable advantages: zero casualties, low overall cost, strong maneuverability, strong adaptability to the environment, with a higher proportion of payload,  and will be widely used.  
Military UAV growth mainly depends on the defense spending. Israel, the United States, and China dominate the military UAV trade market.
Top listed Chinese producers ranked by UAV revenue (in RMB) in 2021: China AVIC (688297 CH) (2.48bn); Zhejiang Nanyang Technology Co,Ltd. (002389 CH) (1.12bn); China Aerospace Times Electronics (600879 CH) (780mn).


Zhejiang Nanyang Technology Co,Ltd. (002389 CH)

No Man's Sky: China Military UAV Market Overview