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good morning lt,

thanks for your detailed reply. just had time to read through yesterdays posts.

one thing i'm unsure about but maybe you or someone can explain further.

in the zeus report dated 7th march 23 it states that

"cyanconnode supports over half (16) of empanelled amisps and is integrating its technology into nine new meter types and can provide technology to all empanelled providers. "

therefore, 16 company's on the list are supported by cc rf solution.

if you look at todays empanelment list there are 45 company's listed in total as presently qualifying, these are a mixture of cellular and rf solutions. of these company's 19 are offering a rf solution!

this demonstrates that out of todays 19 rf solution providers on the empanelment list , 16 are already involved with cyans solution as a dvised by zeus in march 23!.

cc would not be partnering with suppliers who made it onto the empanelment list as only offering a purely cellular solution, would they?

in the zeus report it also states " cyan supplies over half of empanelled amisps", which may have been true in march 23 as the empanelment list has grown since then.

empanelment list

https://recindia.nic.in/ami-test-demonstration

zeus report

https://*********************/companies/uk/telecoms-equipment/cyanconnode-holdings-plc/research/zeus-capital/cyanconnode-cyan-ln-the-smart-choice/c4417880-0dc6-4c3a-ba3d-61d951b53d30

therfore, i can only conclude that all the rf

Evening LT, CB and All.

So far no one has come up with the name of a competitor who has demonstrated any successful Indian pilots or have been awarded recent tenders in the space that CC operate.

I do find this quite amazing in itself, even though it is still early days in the Indian rollout.

With the Indian government narrative of home grown solutions for India, predominantly Made in India etc along with India has been doing nothing else other than conducting pilots to test the best solutions for the Indian market , for the past approx. ten years ........I just cant imagine that a left of field "unknown " RF solution provider could suddenly appear and have the credentials , and roll up and snatch significant contracts. Who could they be ?

I recall in 2015 the meeting somewhere. probably no. 10 with D Cameroon and Modi at a round table event....I think a dozen at most UK company's were invited to the meeting with Modi to discuss UK / Indian trade, as was Cyan.

It was a long time ago, and easily forgotten but as things are presently looking maybe there was a lot more to this meeting than was at first reported.

It would be interesting to see how the other dozen or so company's have advanced in India since 2015 ... as even at the time i thought this was a bit over the top, such a small company like CC being invited along......most FTSE 100 company's would have probably given their teeth to be present.

My gut feeling is we will learn a great deal more when the rump of the sub contractor contracts start to be dealt....and as they land, the longer we can hold our own the more exciting the possibilities could be IMO.

Should be an exciting period ahead... worth hanging around for after all this time. GL Vas

The QVH contract should be due sometime in the next few months...which would be something but IMO not progress as this one was nailed on ages ago, i thought.

I would like to see the QVH contract ticked off, and another one , don't care where , with who or what just somewhere with a different name.

Crazy selling now, something will come along and if its seems to have legs i might stay :)

With CCs early bird track record in India "delivering an average SLA of ~99.5% on daily basis continuously in its projects" and said projects wining prizes along with at least another 220m plus units to be awarded...... then if CC solution has proven to solve India's real world problems why would anyone choose an inferior and possibly untested product. They have to meet the SLAs !

Surely, a competitor who can match or beat CCs solution and SLA target , whom have been tested and trialled in India would have been known to us by now, and probably awarded some decent tenders or is this me being naïve?

Can anyone identify a competitor who has won awards in India in the current rollout and taken business away from CC so far?

Hi Tony,

You are correct as of three months ago.

In May 23 Silicon Labs announced that ...

"As the project ( 250 m smart meters in India) is picking up pace, Silicon Labs is teaming up with Wirepas to deliver a complete Advanced Metering Infrastructure (AMI) solution with a connectivity suite profile fit for the job. The Silicon Labs EFR32FG23 sub-GHz SoC, with the Wirepas Mesh 865-868 MHz profile, successfully forms a single mesh network. In line with the local regulations, the sub-GHz profile is designed to enable reliable, long-range wireless connectivity for main-powered devices in the widely used ISM bands."

The article also goes on to talk about EFR32MG24 , a totally different solution but involving wireplus ....something out of my expertise.

No Mention of FG 25 here which we know CC are involved in.

https://www.silabs.com/blog/expanding-industrial-mesh-network-solutions-with-wirepas

https://www.linkedin.com/posts/chad-steider-32b3369_expanding-industrial-mesh-network-solutions-activity-7062143116824227840-7BNv/

Morning LT,

Here is a little bit more information about the Silicon Labs dual-band FG28.

Meaningless to me, but maybe means something to others here!

https://www.cnx-software.com/2023/06/08/silicon-labs-fg28-sub-ghz-wireless-and-2-4-ghz-ble-soc-supports-amazon-sidewalk-wi-sun-etc/

Evening Gizmo and LT,

Thanks for posting this article.

Just read it briefly and noted how many references throughout the interview where about future security and that SL are world leaders in the security of IOT field.

Smart meters, Smart City, IOT is the future, not sure how long it will take but one day these terms will all mean the same.

Nice quote from the interview

"Silicon Labs remains committed to supporting CyanConnode in the government’s smart city vision of connecting 250 million homes with smart meters. As we continue to serve all our clients, we strive to provide scalable solutions that meet their evolving needs".

cheers vas

Evening LT and Tony,

Thanks for your interpretation which makes total sense.

It at first just sounded quite late in the day to start the loss reduction program , with the self set India government targets

etc , and with the smart metering tender out and on its heels so to speak but then i have to remind myself that each of these state projects have their own timelines and the tenders, followed by the awards is just that, they are awards and then the timelines for the deployment of each award, including the smart metering deployment for example will be unique, and dependent on may other factors such as the award, deployment and completion of the first phase which is loss reduction phase.

This makes timelines for deployments for smart meters really difficult to judge, even after the awards. Thanks again and GL All.

Just realised that this award is for Meghalaya only and not other states, so makes more sense. They have bundled the award into ten individual areas.

Thanks gizzmo.

Does anyone know more about what this means! I am finding it a little confusing.

"Mondal said the components of the RDSS include – loss reduction, smart metering and enhancement of project management."

"But today, we have only decided on a loss reduction project because for smart metering, the tendering has not been completed yet and project management is yet to be sanctioned,” he said.

"He said the department has bifurcated the state into 10 projects and all have been tendered. “

"all of the projects where the bids have been submitted are little bit higher than the original sanction cost. We have written all these things to the nodal department of the Government of India, Ministry of Power, REC and they have suggested to us that either we go for retendering or we go for negotiation,” Mondal said.

“Accordingly, we decided that retendering may not get more bidders and we have gone for negotiation and after negotiation, we found that it is quite reasonable to give the tender to them"

"the Cabinet has decided that this work will be awarded to L1 bidder,” he added."

I understand this to relate to only the loss reduction part of the main project, the smart metring part is out to tender and the project management is yet to be sanctioned to be sanctioned"

Does anyone know what the loss reduction project is about?

What is the smart metering project about?

This sounds like a initiative from the RDSS, otherwise why announce it!

https://themeghalayan.com/govt-to-implement-loss-reduction-project-under-rdss/#:~:text=Addressing%20media%20persons%20after%20the,and%20enhancement%20of%20project%20management.

Morning Ruprecht,

I often feel that shares on AIM ( the good and bad) are at the mercy of investor confidence generally and there are good times to invest in AIM, and not so good times. Company's that are performing well often do not do so well in down times as they should and others suffer even more.

This year AIM all shares index has fallen from 899 to todays 730 , a year long slide .

In fact this past year is just one leg of a five year decline since March 21.

Sometime soon hopefully confidence will return to AIM , at a time when CC will hopefully be firing on all cylinders.

The good news IMO is that if CC SP can progress in this pretty sad market going forward - then when confidence returns its SP will be turbo charged.

If CC do as they claim over the next few years , and AIM confidence returns then then I would not like to guess how high the sp could go - but i think the market will need a renewed confidence to get there.

I think after reading the Premier Milton appraisal of shares they are holding which they see as good company's, trading as expected, if not over delivering, yet are presently on share price lows or very under valued - I think the patience of holding onto these promising small caps is part of the funds success - and when the market turns these company's will be first movers and they will be rewarded. GL Vas

Indore tops in Smart City contest, Madhya Pradesh wins best 'State Award'

https://www.dnaindia.com/india/report-indore-tops-in-smart-city-contest-madhya-pradesh-wins-best-state-award-3057372

Here is an example of a UK Investment fund that admits investing in CC but their investment does not show up on the CC l web site. They must be under 3% , i guess.

Page two, they talk about CC, briefly.

https://www.cruxam.com/sites/default/files/2023-01/Q4%202022%20TM%20CRUX%20UK%20Smaller%20Companies%20Fund%20Quarterly%20Commentary.pdf

https://www.cruxam.com/funds

Sandgrounded. I think you are correct .

"If the company is a non-UK issuer, then the investor (and each person in the chain of control of voting rights) must disclose its aggregate interest in UK listed shares at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%. However, if the issuer is incorporated in the USA, Japan, Israel and Switzerland, then the disclosure obligations are governed by the rules applicable in these jurisdictions "

and this which i found strange.

"There is an exemption under DTR 5.1.5R(1) for fund managers so holdings need only be disclosed at 5% or above (as opposed to 3%) and further notification only arises if holdings reach, exceed, or fall below 10%"

So in theory, if this is correct then a non UK investment fund could hold up to 5% without having to disclose their holding.

https://ogilvywatson.com/2021/04/disclosure-requirements-for-an-interest-in-uk-listed-shares-3/#:~:text=If%20the%20company%20is%20a,3%25%20up%20to%20100%25.

Morning LT,

You might wish to have a read of Premier Milton's Investors presentation published April 23

https://www.mitonukmicrocaptrust.com/wp-content/uploads/sites/5/2023/05/23.03.782_Miton-UK-MicroCap-Trust-presentation.pdf

Specifically Pages 9, refer to Cyan, and also 10

https://www.mitonukmicrocaptrust.com/wp-content/uploads/sites/5/2023/05/23.03.782_Miton-UK-MicroCap-Trust-presentation.pdf

Morning emptyend,

There are at least four larger holders according to CC. We do not know how many are holding less than 3 % though.

I'm pretty sure anything above 3% and they have to publish their holding.

https://cyanconnode.com/investors/shareholder-information/

Also I am not sure if large holdings of shares above 3% held abroad ( e.g. India) are required to be published in UK? Maybe someone else can answer this. CC can only publish information that they are given.

https://cyanconnode.com/investors/shareholder-information/

Https://www.ii.co.uk/analysis-commentary/fund-managers-who-hunt-aim-winners-and-where-they-are-finding-best-opportunities-ii528951

Sorry LT,

It would help if I posted the correct link to my previous post. Just realised. Thanks for your previous post - its all very encouraging.

https://www.tndindia.com/hpl-electric-foresees-smart-meters-to-dominate-metering-order-book/

Good Evening LT.

A very bullish statement going forward recently from the Chief Financial Officer, HPL Electric & Power Ltd.

"HPL Electric & Power Ltd expects that over the next three years, its order book for energy metering will be dominated by smart meters".

So its not just CC who will be concentrating on the huge domestic Indian smart meter opportunity that has opened up thanks to RDSS.

You can feel the sense of opportunity here, not just by by the words used by HPL but similar statements or actions by all the Indian main players who are gearing and funding up .......... India will be highly fertile ground for a few years and then export.

As investors we can only hope JC can continue the excellent conversion rate , as we have seen recently with our partners.

HPL stated they are one of only two meter manufacturers involved in the RDSS initiative, and are free to supply anyone ...the other must be Genus, whom i understand are manufacturing CC modules. in house.

https://www.lse.co.uk/ShareChat.html?ShareTicker=CYAN&share=Cyanconnode&thread=55586784-B030-404D-A69F-6F424E5ECEE1&reply=true

Evening Bill.

I'm also still here, its hard to imagine the confidence here last Xmas as we went into this year ! Everything seemed to be aligned along with FDBK having the only legal communication application that could be used within the NHS.

The reality is other than the QVH contract extension contract in April 23 ( what's happened to the replacement tender!) we have not had solid news of progress since, nearly a year ago .. ....6th September last year when they won the first QVH contract !

The UK does not particularly look good IMO with all the NHS pressures and strikes plus when was the last time you read about Community Diagnostic Centre development. I think the Tory's will claim that they have hit that target in the next election ! even though is is only half the story.

We are waiting for the Indian BLEEPA licence to be granted , so to manufacture and distribute in India , and told it could take anytime up until end of this year ! Hopefully, they ill hit the ground running with an order from Qure.ai or somewhere .

CareLocker is at present our product that is selling in India , in small amounts and I hope has been taken up in other city's in India. Even an update on CareLocker in India would be something IMO

Saying all that I still think something has to give here, as the technology is spot on, just a few major circumstances have made the share price retrace, as if its a new company with a new product. This share could still be a very good investment going forward, much more risky than this time last year, as far as confidence is concerned - but at this price worth a punt for some.