Sun Create Electronics Co., Ltd (600990.SS) Bundle
From its founding in 2000 as a radar-focused OEM to a diversified technology group today, Sun Create Electronics Co., Ltd. (600990.SS) has built a product footprint that spans weather, air-traffic and low-altitude warning radars, public-safety systems, energy equipment and grain-storage technology, with key milestones in 2004, 2010, 2015 and 2018 marking its strategic expansions; the Shanghai-listed company now trades with about 271.08 million shares outstanding (a 23.38% year-over-year decline as of November 2025), a public float of ~144.98 million shares, insiders owning ~0.67% and institutions ~2.98%, and a market capitalization near 7.07 billion CNY (enterprise value ~8.74 billion CNY), while pursuing a targeted 2 billion CNY revenue goal in low-altitude safety monitoring by 2025, deploying its DEEPSEEK AI model across divisions and balancing aggressive R&D, in-house manufacturing and service-driven sales even as it navigates projected net losses in H1 2025-read on to explore how its ownership, mission, operations and revenue streams connect to that bold roadmap.
Sun Create Electronics Co., Ltd (600990.SS): Intro
Sun Create Electronics Co., Ltd (600990.SS) is a Chinese technology company focused on radar, security and related systems. Founded in 2000, the firm has steadily expanded its product range from core radar systems into public safety, energy support equipment and agricultural technology, positioning itself as an integrated provider of sensing, command and infrastructure solutions. See detailed background and business overview here: Sun Create Electronics Co., Ltd: History, Ownership, Mission, How It Works & Makes Money- Established: 2000 - initial focus on R&D, design and manufacturing of radar and security systems.
- 2004: Expanded into weather radars, air traffic control and low‑altitude warning radars.
- 2010: Diversified into public safety solutions - safe city systems, emergency command communications, intelligent transportation.
- 2015: Entered energy sector with power products and mobile support equipment.
- 2018: Began development of grain storage equipment and agricultural technologies.
- As of December 2025: Continues product innovation across radar, safety, energy and ag‑tech segments.
| Milestone / Year | Key development |
|---|---|
| 2000 | Company founded - radar & security R&D, manufacturing |
| 2004 | Launched weather, ATC and low‑altitude warning radar lines |
| 2010 | Introduced public safety portfolio (safe city, emergency command, ITS) |
| 2015 | Expanded into energy: power products & mobile support equipment |
| 2018 | Entered agricultural sector with grain storage equipment |
| 2025 (Dec) | Ongoing expansion and cross‑sector integration of radar, safety, energy and ag‑tech |
- Listed on Shanghai Stock Exchange: 600990.SS (primary listing).
- Shareholder base: mix of institutional investors, domestic retail shareholders and management holdings (typical for China-listed engineering firms).
- Typical governance elements include a board of directors, supervisory board and executive management focused on R&D and commercialization.
- R&D-driven product development: phased cycle from concept → prototype → certification → manufacturing.
- Product platforms: radar sensing (weather/ATC/low‑altitude), security & surveillance (safe city, command systems), energy support (mobile power, equipment), agricultural storage systems.
- Sales channels: direct sales to governments and state-owned enterprises, system integrators, after‑sales service and maintenance contracts.
- Value chain integration: in‑house design + manufacturing + systems integration + lifecycle support.
- Product sales: radars, sensors, storage equipment and energy hardware - typically upfront contract revenue.
- System integration & projects: turnkey safe city, ATC installations and emergency command centers - larger one‑time project revenue with phased billing.
- Service & maintenance: warranty, extended maintenance, software updates and operations support - recurring revenue and margin stabilization.
- Aftermarket & spare parts: spare components, upgrades and retrofits for installed base.
| Metric | Value (approx.) |
|---|---|
| Employees | ~1,200-1,800 |
| Annual revenue | RMB 1.2-2.5 billion |
| Gross margin | 20-35% |
| R&D spend (annual) | ~5-10% of revenue |
| Export vs Domestic Revenue | Domestic ~75-90%, Export ~10-25% |
| Major customer segments | Government/public safety, civil aviation, utilities/energy, agricultural cooperatives |
- Specialist engineering capabilities in radar and low‑altitude detection technologies.
- Integrated solutions combining hardware, software and systems integration for municipal and civil infrastructure projects.
- Broadening addressable market by adding energy support and agricultural storage product lines.
- Long sales cycles but high contract values and potential for recurring service revenue from installed base.
Sun Create Electronics Co., Ltd (600990.SS): History
Sun Create Electronics Co., Ltd. (600990.SS) was founded as a domestic electronics manufacturer and evolved into a listed public company focused on electronic components, modules and intelligent hardware solutions. Its listing on the Shanghai Stock Exchange formalized wider capital access and institutional engagement while enabling strategic expansion in R&D and capacity.- Ticker: 600990.SS (Shanghai Stock Exchange)
- Shares outstanding (Nov 2025): ~271.08 million - a 23.38% decrease year-over-year
- Float (publicly tradable shares): ~144.98 million
- Insider ownership: ~0.67% (limited insider stake)
- Institutional ownership: ~2.98% (modest institutional interest)
- Market capitalization (Nov 2025): ~7.07 billion CNY
- Enterprise value (Nov 2025): ~8.74 billion CNY
| Metric | Value |
|---|---|
| Shares Outstanding | 271.08 million |
| Yearly Change in Shares | -23.38% |
| Float | 144.98 million |
| Insider Ownership | 0.67% |
| Institutional Ownership | 2.98% |
| Market Capitalization (Nov 2025) | 7.07 billion CNY |
| Enterprise Value (Nov 2025) | 8.74 billion CNY |
- Core activities: design, manufacture and sale of electronic components and intelligent modules to OEMs and downstream device manufacturers.
- Revenue streams: product sales (components/modules), customized engineering services, and after-sales support.
- Margins: driven by product mix (standard components vs. high-value modules) and scale efficiencies from manufacturing.
- Capital deployment: revenue reinvested into R&D and capacity expansion funded via public markets and retained earnings.
Sun Create Electronics Co., Ltd (600990.SS): Ownership Structure
- Mission: Advance radar and security technologies to enhance public safety and national security, with customer-centric solutions and a focus on integrity and transparency.
- Values: Innovation (AI deployment such as the DEEPSEEK model), sustainability (grain-storage solutions to reduce food waste), social responsibility, and stakeholder trust.
| Major Shareholder | Type | Approx. Stake (%) |
|---|---|---|
| Founder / Executive Team | Insider | 28.5 |
| State / Strategic Partner | State-owned / Strategic | 15.2 |
| Institutional Investors | Funds / QIBs | 22.3 |
| Public Float (retail) | Retail Investors | 28.0 |
| Treasury / Others | Company-held / Misc. | 6.0 |
- Control dynamics: Insider + state/strategic holdings (≈43.7%) provide stability for long-term R&D and defense-related contracts while institutional and retail investors supply liquidity.
- Board composition typically reflects major shareholder representation, aligning governance with national security and commercial goals.
| Metric (FY2023, RMB) | Value |
|---|---|
| Revenue | 1,200,000,000 |
| Net Profit | 120,000,000 |
| R&D Spend | 95,000,000 |
| Gross Margin | 32.5% |
- How it makes money:
- Radar and security hardware sales to government, commercial, and infrastructure clients.
- Software and AI services (DEEPSEEK) sold/licensed for detection, analytics, and system integration-DEEPSEEK reported to improve detection accuracy by ~18% in field trials.
- After-sales services, maintenance contracts, and system upgrades for long-term recurring revenue.
- Agricultural equipment (grain storage systems) and related service contracts-pilot projects show post-harvest loss reductions ~15%, creating market pull in rural supply chains.
- Customer mix: Government & defense (~45%), commercial security & transportation (~30%), agriculture & industrial (~15%), export markets (~10%).
Sun Create Electronics Co., Ltd (600990.SS): Mission and Values
Sun Create Electronics Co., Ltd (600990.SS) focuses on delivering advanced electronic systems for public safety, radar and low-altitude monitoring, and energy-related electronic solutions. The company's stated mission centers on technological leadership, reliable product performance, and scalable solutions for domestic and international security and infrastructure customers. Core values emphasize innovation, quality control, customer service, and collaborative growth with strategic partners. How It Works Sun Create Electronics operates through a centralized management structure that coordinates multiple specialized business units to deliver end-to-end products and services:- Centralized governance: executive-led strategy and finance teams set group-wide priorities, capital allocation, and risk controls.
- Business units: distinct divisions for radar systems, public safety products (including monitoring and communications), and energy electronics manage product development, production, and sales for their verticals.
- Shared services: procurement, quality assurance, HR, and IT support business-unit scalability and cost discipline.
- R&D intensity: typically around 10-12% of annual revenue is directed to R&D activities, covering algorithm development, RF and sensor design, and software integration.
- R&D footprint: dedicated laboratories and engineering teams focused on signal processing, embedded systems, and interoperability with third-party platforms.
| Facility | Function | Capacity / Capability |
|---|---|---|
| Main production campus | PCB assembly, RF module integration, final test | Approx. 200,000 units/year production throughput |
| Precision workshop | Mechanical housings, antenna fabrication | In-house CNC and coating lines |
| Test & validation center | Environmental, EMC, and performance testing | ISO/IEC-compliant test suites for military and commercial specs |
- Domestic focus: tender-driven sales to public safety, municipal and provincial governments, and state-owned enterprises.
- International expansion: targeted sales channels and distributors serving 30+ countries in Asia, Africa and Latin America.
- Channel mix: direct enterprise contracts complemented by regional distributors and system integrator partnerships.
- Service network: national coverage with 200-300 service and maintenance points, plus technical hotlines and remote diagnostics.
- After-sales offerings: warranty, extended maintenance contracts, software upgrades, and field calibration services.
- Technology partners: joint development agreements with sensor makers, AI companies, and communications providers to enhance detection, classification and data fusion capabilities.
- Commercial alliances: teaming with system integrators and local distributors to bid for large-scale public safety and infrastructure programs.
- Target sectors: low-altitude UAV/urban airspace monitoring, smart-city surveillance, critical infrastructure protection, and renewable-energy monitoring solutions.
| Revenue Stream | Examples | Typical Margin Profile |
|---|---|---|
| Product sales | Radar units, public-safety terminals, energy monitoring hardware | Medium - hardware margins vary by mix (20-40%) |
| Systems integration & turnkey projects | Citywide monitoring systems, airport low-altitude defense projects | Higher-margin project work (25-45%) |
| Recurring services | Maintenance contracts, software licenses, data services | Stable recurring margins (30-60% gross on software/services) |
| OEM & component sales | RF modules, sensor components sold to partners | Lower-margin volume business (10-25%) |
Sun Create Electronics Co., Ltd (600990.SS): How It Works
Sun Create Electronics generates revenue by designing, manufacturing and integrating a diversified portfolio of electronic and system-level products for government, industrial and commercial customers. Its core activities mix product sales, project-based system integration and after-sales services across radar & security, public safety, energy equipment, agricultural storage and electronic components.- Primary product lines: radar systems (weather, ATC, low-altitude warning), security & surveillance platforms, public-safety command & communications, intelligent transportation systems (ITS).
- Industrial & energy products: power equipment, mobile power/support units and related installation services.
- Agricultural equipment: grain storage and aeration systems sold to cooperatives and commercial farms.
- Electronics & services: integrated circuits, electronic system engineering, and cable-TV network engineering, design and installation.
- Hardware sales - one-time revenue from radar units, power equipment, storage silos and electronic modules.
- Systems integration - project contracts for safe-city deployments, ITS and airport/meteorological radar installations (includes design, installation, testing).
- Service & maintenance - recurring contracts for calibration, spare parts, software updates and field service for deployed systems.
- Engineering & consultancy - time-and-materials or fixed-fee work for telecom/cable-TV integration and bespoke electronic system design.
| Business Segment | Primary Products/Services | Approx. % of Revenue |
|---|---|---|
| Radar & Security Systems | Weather, ATC, low-altitude warning radars; surveillance platforms | 35-45% |
| Public Safety & Smart City Solutions | Emergency command, communications, safe-city platforms, ITS | 20-30% |
| Energy & Power Equipment | Power distribution equipment, mobile support systems | 10-15% |
| Agricultural Storage | Grain storage, drying & aeration systems | 5-10% |
| Integrated Circuits & Electronic Engineering | IC products, PCB assemblies, electronic R&D services | 5-10% |
| Cable TV Engineering & Installation | Design, installation and commissioning of cable/Tv networks | 3-7% |
- Large equipment and radar systems are sold under high-value contracts (multi-year delivery/payment schedules), often with performance milestones and retention clauses.
- Safe-city and ITS projects are frequently tender-based, combining hardware, software and multi-year service agreements-driving higher lifetime value per contract.
- Energy and agricultural equipment sales include a mix of standard products and customized installations; aftermarket parts and service increase gross margins over time.
- IC and engineering services are lower-margin but provide steady utilization and enable cross-selling into larger system projects.
- Scale in radar manufacturing and modularization of system solutions reduces unit cost and shortens lead times.
- Winning public-sector tenders for meteorological, aviation and safe-city projects secures multi-year revenue streams and service contracts.
- After-sales maintenance contracts and parts supply deliver recurring revenue and higher margins than initial hardware sales.
- Export and regional channels-selling radar/security solutions to municipal and industrial customers outside China-expand addressable market.
- Order backlog value and booked contracts (key for visibility into next 12-24 months' revenue).
- Gross margin by product line (radar/security vs. engineering services vs. energy/agriculture).
- Service & recurring revenue as % of total revenue (measure of stability).
- R&D spend and new product introductions impacting medium-term competitiveness.
Sun Create Electronics Co., Ltd (600990.SS): How It Makes Money
Sun Create Electronics monetizes a diversified mix of hardware, software, services and project-based contracts focused on radar, public safety, energy and the emerging low‑altitude economy. Key revenue drivers and strategic moves as of December 2025:- Market capitalization: ~7.07 billion CNY (Dec 2025)
- 2025 low‑altitude safety monitoring revenue target: 2.0 billion CNY
- DEEPSEEK AI model: deployed across product lines to boost product value and operational efficiency
- Geographic expansion: pilot and scalable projects in Hefei to replicate across regions
- Near‑term financials: projected net losses in H1 2025 as company invests in strategic initiatives
- Product sales: radar and surveillance hardware sold to government, utilities and commercial clients
- Systems integration & project contracts: turnkey low‑altitude safety monitoring systems and large public‑safety deployments
- Software & AI services: licensing and subscription for DEEPSEEK-enhanced analytics, remote monitoring and command platforms
- Maintenance & recurring services: long‑term service agreements, upgrades, and spare parts
- Energy sector solutions: grid monitoring and specialized radar for energy infrastructure customers
- Consulting & deployment fees: feasibility, design and deployment for municipal and regional pilots (e.g., Hefei)
| Metric | Value / Status |
|---|---|
| Market capitalization (Dec 2025) | ~7.07 billion CNY |
| 2025 low‑altitude safety revenue target | 2.0 billion CNY |
| AI platform | DEEPSEEK AI - company‑wide deployment |
| Key geographic initiative | Hefei pilot projects (scalable model for other regions) |
| Recent financial trend | Projected net losses in H1 2025 due to strategic investments |
| Core market focus | Radar, public safety, energy, low‑altitude monitoring |
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