Aerospace South Lake: The company's military trade products are mainly sold through general units and military trade companies, and the ultimate customers are overseas customers.

Aerospace Nanhu said during a institutional research that currently all production and research tasks of the company are progressing normally, with a revenue of 585 million yuan achieved in the first three quarters of 2025. The delivery of the company's domestic radar systems has a seasonal pattern, mainly concentrated in the second half of the year especially in the fourth quarter, so it is not suitable to speculate the annual performance based on quarterly or semi-annual performance data. The company's military products are mainly sold through government agencies and military trade companies, with the end customers being overseas clients. The production and delivery cycle of the company's radar systems is generally 1-3 years, mainly influenced by factors such as product model, customer demand, and transportation conditions, and the company will fulfill the delivery according to the specific contract agreements.