greliby SolarNet
greli · Green Link by SolarNet· investicioni predlog, septembar 2026investment proposal, September 2026

Od čipa do proizvoda.From chip to product.

Tri pravca na istom ESP32 silicijumu: veleprodaja čipova, razvoj dev boardova i primena naših proizvoda. Proizvodi rade na solarnu energiju, međusobno komuniciraju bez operatera i pokrivaju pet segmenata privrede.Three pillars on the same ESP32 silicon: chip wholesale, dev board development and deployment of our own products. The products run on solar power, talk to each other with no operator and cover five economic segments.

1
VeleprodajaWholesale

ESP32 čipoviESP32 chips

KomeTo
OEM, EMS, dizajn studijiOEMs, EMS, design houses
CenaPrice
€1–6
MaržaMargin
15–30%
2
RazvojDevelopment

Dev boardoviDev boards

KomeTo
inženjeri, škole, makeriengineers, schools, makers
CenaPrice
€9–55
MaržaMargin
45–65%
3
PrimenaDeployment

Naši proizvodiOur products

Pametna kartica i komunikatorSmart card & communicator
Low‑power captive portal ruterLow‑power captive portal router
Decentralizovana sensor & data mrežaDecentralised sensor & data network
KomeTo
hoteli, opštine, parkovi, farme, outdoorhotels, municipalities, parks, farms, outdoor
CenaPrice
€25–4.900 + pretplatasubscription
MaržaMargin
60–75%
5 segmenata privrede5 economic segments PoljoprivredaAgriculture Pametni gradovi i parkoviSmart cities & parks Outdoor Turizam i hoteliTourism & hotels Otpornost i hitne situacijeResilience & emergency
$0,6–2,3veleprodajna cena golog ESP32 čipawholesale price per bare ESP32 chipLCSC 1k+ · sep 2026
3 × 5proizvoda × segmenata privredeproducts × economic segmentsjedna platformaone platform
€0/mesmokomunikacija u GRELI Mesh mrežicommunication on GRELI Meshbez SIM kartice i operaterano SIM, no operator
€135kpredložena investicija u dve tranšeproposed investment in two tranches18 meseci18 months
Rezime za investitoraExecutive summary

Čipovi donose promet. Boardovi donose brend. Proizvodi donose profit i ponavljajući prihod.Chips bring volume. Boards bring the brand. Products bring profit and recurring revenue.

  • ESP32 je de facto standard za Wi‑Fi/Bluetooth IoT. Espressif je 2025. imao prihod ¥2,57 mlrd (+27,8%), a u H1 2026 rekordnu bruto maržu od 49,3%.
  • ESP32 is the de facto standard for Wi‑Fi/Bluetooth IoT. Espressif made ¥2.57bn revenue in 2025 (+27.8%) and a record 49.3% gross margin in H1 2026.
  • Pravac 1, veleprodaja čipova: u regionu nema ovlašćenog Espressif distributera, a Srbija od 2024. uvozi elektroniku iz Kine bez carine. Marža 15–30%.
  • Pillar 1, chip wholesale: there is no authorised Espressif distributor in the region, and since 2024 Serbia imports Chinese electronics duty‑free. 15–30% margin.
  • Pravac 2, razvoj dev boardova: pet GRELI ploča (edukacija, Matter, AI glas, vizija, LoRa). Proizvodnja u Šenženu, završna faza u Srbiji. Marža 55–65%.
  • Pillar 2, dev board development: five GRELI boards (education, Matter, AI voice, vision, LoRa). Made in Shenzhen, finished in Serbia. 55–65% margin.
  • Pravac 3, naši proizvodi: pametna kartica i komunikator, low‑power captive portal ruter i decentralizovana sensor & data mreža. Sva tri rade na solarnu energiju ili bateriju i povezuju se preko GRELI Mesh mreže. Marža 60–75% plus pretplata.
  • Pillar 3, our products: a smart card & communicator, a low‑power captive portal router, and a decentralised sensor & data network. All three run on solar or battery and link over GRELI Mesh. 60–75% margin plus subscriptions.
  • Pet segmenata privrede: poljoprivreda, pametni gradovi i parkovi, outdoor, turizam i hoteli, otpornost i hitne situacije. Svaki segment koristi sva tri proizvoda.
  • Five economic segments: agriculture, smart cities & parks, outdoor, tourism & hotels, resilience & emergency. Each segment uses all three products.
  • Nastavak GreenLink by SolarNet koncepta: solarne instalacije (Drvo, Ulična svetiljka, Antena) sa mesh mrežom, senzorima, SOS pozivom i lokalnim portalom, a podaci na SolarNet decentralizovanom hostingu.
  • Continuation of the GreenLink by SolarNet concept: solar installations (Tree, Streetlight, Aerial) with mesh, sensors, emergency call and a local portal, with data on SolarNet decentralised hosting.
PREPORUKA: DA, U FAZAMAVERDICT: YES, IN PHASES

Tranša 1 (€50k): lager čipova, prototipovi kartice, portala i senzora, pilot mreža od 30 čvorova. Tranša 2 (€85k): serijska proizvodnja i širenje po segmentima kada piloti dokažu tražnju.Tranche 1 (€50k): chip stock, card, portal and sensor prototypes, a 30‑node pilot network. Tranche 2 (€85k): production runs and segment expansion once pilots prove demand.

Akcije Espressifa (688018.SS) su posebna, volatilna odluka i nisu deo ovog plana. Ovo nije finansijski savet.Espressif shares (688018.SS) are a separate, volatile decision and not part of this plan. This is not financial advice.

Pravac 3 · naši proizvodiPillar 3 · our products

Tri proizvoda, jedna mreža, nula operatera.Three products, one network, zero operators.

Svaki proizvod je sagrađen na ESP32 čipu i LoRa radiju, radi sa malo energije i razgovara sa druga dva. Kartica je u džepu čoveka, portal je na stubu ili zidu, a senzori su na terenu.Each product is built on an ESP32 chip and a LoRa radio, runs on little energy and talks to the other two. The card sits in a person's pocket, the portal on a pole or wall, and the sensors out in the field.

PROIZVOD A · PRODUCT A

GRELI Card: pametna kartica i komunikatorGRELI Card: smart card & communicator

Uređaj veličine bankovne kartice. Šalje i prima poruke preko mesh mreže bez signala i SIM kartice, ima SOS dugme, e‑ink ekran i NFC. Radi i kao ključ sobe, ulaznica ili propusnica.A device the size of a bank card. It sends and receives messages over the mesh with no signal or SIM, and has an SOS button, an e‑ink screen and NFC. It also works as a room key, ticket or pass.

HardverHardware
ESP32‑C6 + SX1262 LoRa + NFC + e‑ink 2,13"
FormatForm
85 × 54 × ~7 mm, punjenje USB‑C ili Qi85 × 54 × ~7 mm, USB‑C or Qi charging
BaterijaBattery
1–3 nedelje, zavisno od broja poruka1–3 weeks, depending on message volume
CenaPrice
€59 · Lite (BLE + NFC) €25 · trošakcost ≈ €22 / €9
PROIZVOD B · PRODUCT B

GRELI Portal: low‑power captive portal ruterGRELI Portal: low‑power captive portal router

Solarna Wi‑Fi tačka kojoj ne treba internet. Posetilac se poveže na „GRELI Free” i odmah mu se otvori lokalni portal: mapa, chat, vesti, servisne informacije, stranice lokalnih firmi i SOS.A solar Wi‑Fi point that needs no internet. A visitor joins "GRELI Free" and a local portal opens at once: map, chat, news, service info, local business pages and SOS.

HardverHardware
ESP32‑S3 N16R8 + microSD + SX1262; Pro: + low‑power OpenWrt
PotrošnjaPower
~0,5 W (Mini) do ~3 W (Pro); solarni panel 10–30 W~0.5 W (Mini) to ~3 W (Pro); 10–30 W solar panel
KorisniciUsers
Mini do ~10 istovremeno, Pro 50+Mini up to ~10 at once, Pro 50+
CenaPrice
Mini €249 · Pro €590 · sadržajcontent €9–29/mesmo
PROIZVOD C · PRODUCT C

GRELI Mesh: decentralizovana sensor & data mrežaGRELI Mesh: decentralised sensor & data network

Solarni čvorovi i senzori koji mere zemljište, vazduh, vodostaj, dim i temperaturu. Podaci putuju preko mreže bez operatera, čuvaju se na čvorovima i na SolarNet solarnom hostingu, a alarm stiže i kad nema interneta.Solar nodes and sensors that measure soil, air, water level, smoke and temperature. Data travels over the network with no operator, is kept on the nodes and on SolarNet solar hosting, and alerts arrive even without internet.

HardverHardware
Mesh Node (ESP32‑S3 + SX1262, 6 W solar) + Sense senzorisensors (ESP32‑C3/C6/H2)
DometRange
2–15 km po skoku, 868 MHz bez licence2–15 km per hop, licence‑free 868 MHz
BaterijaBattery
senzori 2–5 godina, čvorovi na suncesensors 2–5 years, nodes on solar
CenaPrice
Node €119 · senzorisensors €49–149 · €1–3/mes po senzorumo per sensor
Card → PortalPoruka sa kartice stiže na portal i u lokalni chat; recepcija ili štab odgovara sa telefona.A message from the card reaches the portal and the local chat; reception or HQ replies from a phone.
Portal → MeshPortal prikazuje očitavanja senzora iz okoline i šalje obaveštenja na sve kartice u dometu.The portal shows nearby sensor readings and pushes alerts to every card in range.
Mesh → CardAlarm za mraz, požar ili vodostaj stiže direktno na kartice ljudi na terenu, bez interneta.A frost, fire or water‑level alarm goes straight to the cards of people in the field, with no internet.
5 segmenata privrede × 3 proizvoda5 economic segments × 3 products

Isti proizvodi, pet tržišta. Svaka ćelija je konkretna primena.The same products, five markets. Every cell is a concrete use.

SegmentSegment A · Kartica i komunikatorA · Card & communicator B · Captive portal ruterB · Captive portal router C · Sensor & data mrežaC · Sensor & data network KupciBuyers
Proizvod B · captive portalProduct B · captive portal

Wi‑Fi bez interneta: povežeš telefon i portal se sam otvori.Wi‑Fi without internet: join with your phone and the portal opens by itself.

  • Bez lozinke i aplikacije: telefon sam otvori portal čim se poveže, kao na aerodromu.
  • No password or app: the phone opens the portal as soon as it joins, like at an airport.
  • Bez interneta: sadržaj je na microSD kartici i ažurira se preko mesh mreže ili povremene veze. Ako internet postoji, portal ga može i deliti.
  • No internet: content lives on a microSD card and updates over the mesh or an occasional link. If internet exists, the portal can share it too.
  • Chat preko mesh mreže: poruke sa portala stižu na GRELI kartice i na druge portale u regionu.
  • Chat over the mesh: messages from the portal reach GRELI cards and other portals in the region.
  • Lokalne stranice na SolarNet hostingu: kafić, apoteka i vodič imaju svoju stranicu na portalu. Oni plaćaju listing, posetilac ništa.
  • Local pages on SolarNet hosting: the café, pharmacy and guide each get a page on the portal. They pay for the listing; the visitor pays nothing.
  • Iskreno o kapacitetu: jedan ESP32 opslužuje oko 10 telefona istovremeno. Za trgove, plaže i festivale služi verzija Pro sa low‑power ruterom ili više Mini jedinica.
  • Honest about capacity: one ESP32 serves about 10 phones at once. Squares, beaches and festivals get the Pro version with a low‑power router, or several Mini units.
Gde se postavlja: GreenLink formeWhere it goes: GreenLink forms
Proizvod C · GRELI MeshProduct C · GRELI Mesh

Low‑power decentralizovana sensor & data mreža: bez operatera, na sunce, komunikacija besplatna.A low‑power decentralised sensor & data network: no operator, solar powered, free communication.

LoRa je radio velikog dometa i male potrošnje koji radi u slobodnom opsegu od 868 MHz, bez licence. U mesh mreži svaki uređaj prosleđuje poruke dalje, pa nisu potrebni bazne stanice, SIM kartice ni internet. GRELI uređaji koriste ESP32‑S3 i Semtech SX1262 radio i rade sa open‑source firmware‑om (Meshtastic, MeshCore). Mi pravimo hardver i gradimo okosnicu od solarnih čvorova na brdima i krovovima.LoRa is a long‑range, low‑power radio that works in the licence‑free 868 MHz band. In a mesh network every device passes messages on, so no base stations, SIM cards or internet are needed. GRELI devices use an ESP32‑S3 and a Semtech SX1262 radio and run open‑source firmware (Meshtastic, MeshCore). We build the hardware and a backbone of solar nodes on hills and rooftops.

868 MHzslobodan opseg, bez licencelicence‑free bandSRD · EU + RS
2–15 kmpo skoku; sa planinskih vrhova preko 100 kmper hop; over 100 km from mountain topszavisi od terenaterrain dependent
€0mesečno za poruke i merenjaper month for messages and readingsbez SIM karticeno SIM card
6 Wsolarni panel dovoljan za čvor koji radi stalnosolar panel enough for an always‑on node2× 18650 baterija2× 18650 cells

Kako izgleda GRELI MeshWhat GRELI Mesh looks like

solarni čvor (okosnica)solar node (backbone)GRELI Card (ljudi)GRELI Card (people)senzorsensor

Poruka sa telefona ide Bluetooth‑om do GRELI kartice, zatim LoRa skokovima preko solarnih čvorova do primaoca. Senzori koriste istu mrežu. Gateway sa internetom je opcion i služi samo za prenos podataka u GRELI Cloud.A message from a phone goes over Bluetooth to a GRELI Card, then by LoRa hops over solar nodes to the recipient. Sensors use the same network. An internet gateway is optional and only carries data to GRELI Cloud.

TehnologijaTechnology €/uređaj/mes€/device/mo DometRange Bez infrastruktureNo infrastructure PotrošnjaPower PodaciData Čija je mrežaWho owns it
Komunikacija je besplatna. Od čega živimo?Communication is free. How do we earn?
Zašto je održivoWhy it is sustainable
  • Sunce umesto mreže: čvorovi rade na solarnu energiju, senzori godinama na bateriju.
  • Sun instead of the grid: nodes run on solar power, sensors run for years on a battery.
  • Bez SIM kartica: jedan čvor opslužuje stotine uređaja koji bi inače imali svoju SIM karticu i pretplatu.
  • No SIM cards: one node serves hundreds of devices that would otherwise each need a SIM and a plan.
  • Manje odlazaka na teren: očitavanje vodomera, vodostaja i zemljišta sa daljine štedi gorivo i vreme.
  • Fewer site visits: remote reading of meters, water levels and soil saves fuel and time.
  • Popravljivo: otvoren hardver, zamenljive baterije, standardni konektori, dug vek uređaja.
  • Repairable: open hardware, replaceable batteries, standard connectors, long device life.
  • Uklapa se u EU ciljeve (Green Deal, digitalizacija sela, civilna zaštita), pa je moguće finansiranje iz Interreg IPA, Horizon Europe i Digital Europe programa.
  • Fits EU goals (Green Deal, rural digitalisation, civil protection), so funding from Interreg IPA, Horizon Europe and Digital Europe is possible.
OgraničenjaLimits

Mala brzina: tekst, lokacija i merenja, bez glasa i videa. Zakonski duty cycle od 1–10% na 868 MHz ograničava broj poruka. Čvorovi moraju biti visoko postavljeni. Velike mreže traže plan rutiranja, jer se Meshtastic zagušuje. GRELI Mesh ne zamenjuje 112.Low speed: text, location and readings, no voice or video. The legal 1–10% duty cycle at 868 MHz limits message volume. Nodes must sit high. Large networks need a routing plan, since Meshtastic congests. GRELI Mesh does not replace 112.

PILOTPILOT

Fruška Gora + Novi Sad: 30 solarnih čvorova, oko 2.000 km² Srema i južne Bačke, 6 meseci, €9k.Fruška Gora + Novi Sad: 30 solar nodes, about 2,000 km² of Srem and southern Bačka, 6 months, €9k.

Na istoj mreži rade voćnjaci i vinogradi (mraz), grad (vazduh, vodostaj Dunava), planinari na Fruškoj Gori i vatrogasci. Posle toga ide druga regija, Zlatibor i Tara. Pokrivenost je procena; tačan plan zavisi od merenja na terenu. Regulatorni status proveriti sa RATEL‑om.The same network serves orchards and vineyards (frost), the city (air, Danube water level), hikers on Fruška Gora and firefighters. The second region follows: Zlatibor and Tara. Coverage is an estimate; the real plan depends on field measurements. Regulatory status to be confirmed with RATEL.

ProizvodThe product

ESP32 nije jedan čip, već porodica od desetak.ESP32 is not one chip. It is a family of about a dozen.

Zajedničko im je: bežična veza (Wi‑Fi, Bluetooth LE, Thread/Zigbee), isti razvojni alati (ESP‑IDF, Arduino, ESPHome) i cena koja je red veličine niža od zapadnih konkurenata sa sličnim mogućnostima.What they share: wireless connectivity (Wi‑Fi, Bluetooth LE, Thread/Zigbee), the same toolchain (ESP‑IDF, Arduino, ESPHome), and a price an order of magnitude below Western rivals with similar capability.

ČipChip JezgroCore Radio Za šta jeBest for Čip, USD 1k+Chip, USD 1k+ PravacPillar Status

Cene golog čipa na LCSC za 1.300+ kom, septembar 2026, bez PDV‑a. Direktni ugovori za 10k+ su obično 15–30% niži. Vrednosti sa * su procena; H4 i E22 još nemaju javnu veleprodajnu cenu. Kolona „Pravac” pokazuje u kom od naša tri pravca čip koristimo.Bare‑chip prices at LCSC for 1,300+ pcs, September 2026, ex‑VAT. Direct 10k+ contracts are typically 15–30% lower. Values marked * are estimates; H4 and E22 have no public wholesale price yet. The "Pillar" column shows which of our three pillars uses the chip.

Kompanija i akcijeCompany & stock · SSE STAR 688018

Espressif: fabless šangajska kompanija koja je pobedila niša‑po‑niša.Espressif: a fabless Shanghai company that won one niche at a time.

Prihod i neto dobit, mlrd RMBRevenue and net profit, RMB bn

PrihodRevenueNeto dobitNet profit

Izvor: godišnji izveštaji Espressif Systems. 2025: prihod ¥2,565 mlrd (+27,8%), neto dobit ¥498M (+46,7%), bruto marža 46,6%.Source: Espressif Systems annual reports. 2025: revenue ¥2.565bn (+27.8%), net profit ¥498M (+46.7%), gross margin 46.6%.

Osnovana 2008. u Šangaju (osnivač Teo Swee Ann), fabless model: dizajnira čipove, a proizvodi ih TSMC. Listirana 2019. na STAR tržištu Šangajske berze. Prihod iz inostranstva čini ~30% i raste brže od domaćeg (+35,8% u H1 2026).

Founded in 2008 in Shanghai (founder Teo Swee Ann), fabless: it designs chips and TSMC makes them. Listed in 2019 on the Shanghai STAR Market. Overseas revenue is ~30% of the total and grows faster than domestic (+35.8% in H1 2026).

Ključna prednost je softver: ESP‑IDF, Arduino jezgro, ESP‑Matter, ESP‑DL i ESP‑SR. Zbog toga kupci retko prelaze na jeftinije kineske alternative (Beken, Bouffalo, Realtek, WCH), čak i kada su cene slične.

The real moat is software: ESP‑IDF, the Arduino core, ESP‑Matter, ESP‑DL and ESP‑SR. That is why customers rarely switch to cheaper Chinese alternatives (Beken, Bouffalo, Realtek, WCH) even at similar prices.

Za akcijeBull case

Dvocifren rast, rekordna marža, #1 u Wi‑Fi MCU segmentu. Nova generacija (C5, C61, P4, S31 sa Linux‑om, E22 Wi‑Fi 6E) i AI čip na 12 nm. Konsenzus analitičara: „kupi”, cilj ~¥123.Double‑digit growth, record margin, #1 in Wi‑Fi MCUs. A new generation (C5, C61, P4, Linux‑capable S31, Wi‑Fi 6E E22) and a 12 nm AI chip. Analyst consensus: "buy", target ~¥123.

ProtivBear case

P/E ~48, STAR tržište je volatilno (raspon ¥89–161 za godinu dana), geopolitika SAD–Kina, jeftiniji konkurenti i skuplja memorija. Prodaja golih čipova raste sporo (+6,6% u H1 2026), a moduli brzo (+26,8%).P/E ~48, a volatile STAR market (¥89–161 range over a year), US–China geopolitics, cheaper rivals and dearer memory. Bare‑chip sales grow slowly (+6.6% in H1 2026) while modules grow fast (+26.8%).

Kako kupitiHow to buy

A‑akcije: preko Shanghai–Hong Kong Stock Connect‑a (ako je akcija u programu) ili brokera sa pristupom kineskim A‑akcijama. Proveriti kod brokera. Ovo nije finansijski savet.A‑shares: via Shanghai–Hong Kong Stock Connect (if the stock is eligible) or a broker with China A‑share access. Check with your broker. This is not financial advice.

Potencijal u AI eriPotential in the AI era

AI modeli žive u oblaku. Mikrofon, kamera i relej žive na ESP32.AI models live in the cloud. The microphone, camera and relay live on an ESP32.

ESP32 neće pokretati velike jezičke modele. Njegova uloga je jeftin, stalno uključen uređaj koji prikuplja zvuk, sliku i merenja, radi mali model lokalno (budna reč, detekcija, anomalije) i razgovara sa LLM‑om preko mreže. Tržište edge AI hardvera se procenjuje na $26 mlrd u 2025. i $59 mlrd do 2030.An ESP32 will not run large language models. Its role is the cheap, always‑on device that captures sound, images and measurements, runs a small model locally (wake word, detection, anomalies) and talks to an LLM over the network. The edge AI hardware market is estimated at $26bn in 2025 and $59bn by 2030.

ESP32‑S3

Vektorske instrukcijeVector instructions

Ubrzava neuronske mreže (ESP‑DL). Budna reč i lokalne glasovne komande (ESP‑SR), prepoznavanje lica, detekcija objekata na maloj kameri.Accelerates neural networks (ESP‑DL). Wake word and offline voice commands (ESP‑SR), face recognition, object detection on a small camera.

GRELI‑S3 Voice
ESP32‑P4

Multimedija i vidMultimedia and vision

RISC‑V do 400 MHz, AI instrukcije, MIPI kamera i ekran, H.264 enkoder. Radi uz C6/C5 za bežičnu vezu. Interfoni, HMI paneli, pametne kamere.RISC‑V up to 400 MHz, AI instructions, MIPI camera and display, H.264 encoder. Pairs with C6/C5 for wireless. Intercoms, HMI panels, smart cameras.

GRELI‑P4 Vision
LLM uređajiLLM devices

Glasovni AI asistentiVoice AI assistants

Open‑source projekti tipa xiaozhi‑esp32 pretvaraju ESP32‑S3 čip od ~$2 u glasovnog asistenta koji priča sa ChatGPT/Claude/DeepSeek. U pravcu 3: asistent za recepciju, magacin ili starije osobe.Open‑source projects like xiaozhi‑esp32 turn a ~$2 ESP32‑S3 chip into a voice assistant that talks to ChatGPT/Claude/DeepSeek. In pillar 3: a reception, warehouse or elder‑care assistant.

proizvodproduct
StandardiStandards

Matter i Thread (C6, H2, C5) čine ESP32 kandidatom za svaki novi pametni kućni uređaj koji mora da radi sa Apple, Google, Amazon i Home Assistant ekosistemima.Matter and Thread (C6, H2, C5) make ESP32 a candidate for every new smart‑home device that must work with Apple, Google, Amazon and Home Assistant.

OcenaAssessment

Potencijal u AI eri: visok, ali indirektan. ESP32 ne profitira od AI kao GPU; profitira jer svaki AI servis traži fizičke senzore i aktuatore. Za nas je to argument za pravce 2 i 3: AI na ploči i AI u proizvodu („senzor koji sam javi da kompresor otkazuje”).AI‑era potential: high, but indirect. ESP32 does not profit from AI the way GPUs do; it profits because every AI service needs physical sensors and actuators. For us it argues for pillars 2 and 3: AI on the board and AI in the product ("a sensor that reports the compressor is failing").

Pravac 1 · direktna prodaja čipovaPillar 1 · direct chip sales

Isti čip košta 1,5× do 2,5× više kada ga proizvođač u Evropi kupi u malim količinama.The same chip costs 1.5× to 2.5× more when a European manufacturer buys it in small quantities.

Taj raspon je naš prostor. Levo je veleprodaja golog čipa u Kini (LCSC 1k+ i direktni ugovori za 10k+), desno cena kod EU kataloških distributera (Mouser, DigiKey, TME) za 1–100 kom. Sve bez PDV‑a.That spread is our room. On the left, bare‑chip wholesale in China (LCSC 1k+ and direct 10k+ contracts); on the right, EU catalogue distributors (Mouser, DigiKey, TME) at 1–100 pcs. All ex‑VAT.

Cena po čipu, €Price per chip, €

Veleprodaja Kina (1k–10k+)China wholesale (1k–10k+)EU distributer, 1–100 komEU distributor, 1–100 pcs
ČipChip Veleprodaja, €Wholesale, € EU distributer, €EU distributor, € Naša cena 100+, €Our price 100+, € Bruto maržaGross margin

„Naša cena” je predlog za B2B kupce (100–1.000 kom, bez PDV‑a). Bruto marža je računata u odnosu na nabavnu cenu uvećanu za ~6% (transport, špedicija, kurs; carina 0% po sporazumu Srbija–Kina, proveriti HS 8542). Vrednosti sa * su procena. Kurs 1 USD ≈ 0,86 EUR."Our price" is a proposal for B2B buyers (100–1,000 pcs, ex‑VAT). Gross margin is computed against purchase cost plus ~6% (freight, brokerage, FX; 0% duty under the Serbia–China FTA, verify HS 8542). Values marked * are estimates. FX 1 USD ≈ 0.86 EUR.

PonudaOffer

Rolne i odsečene trakeReels and cut tape

Pune rolne za SMT montaže, cut tape od 10–500 kom za male proizvođače. Originalno fabričko pakovanje, lot broj, MSL etiketa. Isporuka 24–48h, račun sa PDV‑om.Full reels for SMT assemblers, 10–500 pc cut tape for small makers. Original factory packaging, lot number, MSL label. 24–48h delivery, VAT invoice.

Design‑in

Inženjerska podrškaEngineering support

Pregled šeme i RF layout‑a antene, izbor flash‑a i kristala, pomoć oko CE/RED i EN 18031. Naplaćuje se ili se vraća kroz dugoročnu isporuku čipova.Schematic and antenna RF layout review, flash and crystal selection, CE/RED and EN 18031 help. Billed, or recovered through long‑term chip supply.

UgovoriContracts

Godišnji OEM ugovoriAnnual OEM contracts

Proizvođač sa sopstvenom pločom troši 5–50k čipova godišnje. Rezervišemo količine, držimo lager za njega i fiksiramo cenu po kvartalu. Cilj: status Espressif partnera preko EBV/Avnet.A manufacturer with its own board uses 5–50k chips a year. We reserve volume, hold stock for them and fix the price per quarter. Goal: Espressif partner status via EBV/Avnet.

Da li će biti nestašice?Will there be a shortage?

Čipova će biti. Memorija i regulativa su pravi rizik.There will be chips. Memory and regulation are the real risk.

Lekcija iz 2021–22Lesson from 2021–22

Tokom globalne krize čipova ESP32 je poskupeo ali ostao dostupan, dok su STM32 i Nordic imali rokove od 52+ nedelje. Mnogi proizvođači su tada prešli na ESP32 i ostali. Espressif koristi zrele TSMC procese (40/28 nm) koji nisu konkurencija AI čipovima.During the global chip crisis ESP32 got pricier but stayed available, while STM32 and Nordic hit 52+ week lead times. Many makers switched to ESP32 then and stayed. Espressif uses mature TSMC nodes (40/28 nm) that do not compete with AI chips.

Šta radimo, za sva tri pravcaWhat we do, for all three pillars
  • Sigurnosni lager 8–10 nedelja za top 6 čipova, zajednički za čipove, ploče i proizvode.
  • Safety stock of 8–10 weeks for the top 6 chips, shared by chips, boards and products.
  • Dva izvora: ovlašćeni distributer (EBV/Avnet) + LCSC ili fabrički agent u Šenženu.
  • Two sources: an authorised distributor (EBV/Avnet) + LCSC or a factory agent in Shenzhen.
  • Čipovi bez ugrađene memorije (S3, C6, D0WD) su najmanje izloženi rastu cene flash‑a; varijante sa flash‑om u kućištu pratimo mesečno.
  • Chips without in‑package memory (S3, C6, D0WD) are least exposed to flash price rises; in‑package flash variants are reviewed monthly.
  • Ploče i kartice projektujemo sa dva izbora flash‑a (Winbond / GigaDevice / XMC) da nas jedan proizvođač ne blokira.
  • Boards and cards are designed with two flash options (Winbond / GigaDevice / XMC) so one vendor cannot block us.
Pravac 2 · development boardovi sa našim primenamaPillar 2 · our applications as development boards

Čip od €2 prodajemo kao rešen problem od €9 do €55.We sell a €2 chip as a solved problem for €9 to €55.

Porodica GRELI (Green Link): svaka ploča ima jednu jasnu primenu, gotove primere koda, dokumentaciju na našem jeziku i mikroBUS priključak. MikroBUS je standard beogradske MIKROE sa 1.800+ „Click” modula, pa ploče odmah rade sa ogromnim lokalnim ekosistemom.The GRELI (Green Link) family: each board has one clear application, ready code examples, local‑language docs and a mikroBUS socket. mikroBUS is the Belgrade MIKROE standard with 1,800+ Click modules, so the boards work with a huge local ecosystem from day one.

PločaBoard ČipChip PrimenaApplication Trošak @1k, €Cost @1k, € Maloprodaja sa PDV, €Retail incl. VAT, € Veleprodaja, €Wholesale, € Marža direktnoMargin direct Marža veleprodajaMargin wholesale

Trošak @1k obuhvata komponente, PCB, SMT montažu, test i programiranje, pakovanje i transport; sertifikacija je jednokratna i prikazana u sekciji Proizvodnja. Marža direktno = na neto cenu bez PDV‑a; veleprodaja = prodaja prodavnicama i distributerima. Sve procena.Cost @1k covers components, PCB, SMT assembly, test and programming, packaging and freight; certification is one‑off and shown under Manufacturing. Direct margin = on the net price ex‑VAT; wholesale = selling to shops and distributors. All estimates.

GRELI‑S3 Voice · vodeći modellead model

MCU
ESP32‑S3‑WROOM‑1‑N16R8 (pre‑sertifikovan modul)(pre‑certified module)
Audio
I²S MEMS mikrofon + 3 W pojačalo, spremno za budnu reč i LLM glasI²S MEMS mic + 3 W amp, ready for wake word and LLM voice
ProširenjaExpansion
mikroBUS, Qwiic/STEMMA QT, standardni raspored pinovamikroBUS, Qwiic/STEMMA QT, standard pinout
NapajanjePower
USB‑C, punjač Li‑Po baterije, merenje naponaUSB‑C, Li‑Po charger, battery voltage sense
Firmware
Arduino, ESP‑IDF, MicroPython, ESPHome, xiaozhi AI glas; primeri na srpskom/hrvatskomArduino, ESP‑IDF, MicroPython, ESPHome, xiaozhi AI voice; examples in Serbian/Croatian
CenaPrice
€29,90 maloprodaja · €16 veleprodaja · trošak ≈ €9,30€29.90 retail · €16 wholesale · cost ≈ €9.30
Pravac 2 · kako proizvodimo pločePillar 2 · how we manufacture the boards

PCB i montaža u Šenženu. Programiranje, test i pakovanje u Srbiji.PCB and assembly in Shenzhen. Programming, test and packaging in Serbia.

Uporedili smo četiri načina proizvodnje. Preporuka je hibrid: kinesku cenu montaže kombinujemo sa kontrolom kvaliteta, bezbednosnim ključevima i „završnom fazom” kod nas.We compared four ways to manufacture. The recommendation is a hybrid: Chinese assembly cost combined with our own quality control, security keys and final stage.

OpcijaOption MOQ GRELI‑S3 @1k, €GRELI‑S3 @1k, € RokLead time PrednostiPros ManeCons

Trošak po ploči prema seriji, GRELI‑S3, €Cost per board by run size, GRELI‑S3, €

KomponenteComponentsPCB, montaža, testPCB, assembly, testPakovanje, transportPackaging, freight

Bez sertifikacije (jednokratno €12–16k). Na seriji od 100 kom setup montaže i test uređaj dominiraju; od 1.000 kom cena pada skoro na polovinu. Procena na osnovu JLCPCB/PCBWay cenovnika i LCSC cena, sep 2026.Excludes certification (one‑off €12–16k). At 100 units, assembly setup and the test jig dominate; from 1,000 units cost almost halves. Estimate from JLCPCB/PCBWay price lists and LCSC prices, Sep 2026.

Modul ili čip direktno na ploči?Module or chip‑down?

Za razvojne ploče: modul. Pre‑sertifikovan modul štedi ~€6–8k na radio ispitivanju i rizik RF dizajna antene, a razlika u ceni na LCSC je svega €0,3–0,8 po komadu. Čip direktno na ploči isplati se tek od ~10.000 kom godišnje, ili kada je bitan oblik i cena, kao kod senzora i kartica iz pravca 3.For dev boards: the module. A pre‑certified module saves ~€6–8k in radio testing and the antenna RF design risk, and the LCSC price gap is only €0.3–0.8 per unit. Chip‑down pays off only from ~10,000 units a year, or when form factor and cost matter, as with the pillar 3 sensors and cards.

Kvalitet i bezbednostQuality & security
  • AOI + X‑ray kod montažera, 100% funkcionalni test u Srbiji na test uređaju sa pogo iglama (Wi‑Fi, audio, USB, napajanje).
  • AOI + X‑ray at the assembler, 100% functional test in Serbia on a pogo‑pin jig (Wi‑Fi, audio, USB, power).
  • Secure boot i flash enkripcija se uključuju kod nas, pa ključevi nikad ne napuštaju firmu (važno za CRA).
  • Secure boot and flash encryption are enabled in‑house, so keys never leave the company (important for CRA).
  • Serijski broj, QR kod i SBOM za svaku ploču; evidencija lot‑ova komponenti.
  • Serial number, QR code and SBOM for every board; component lot records.
Put od ideje do serijeFrom idea to production run
Pravac 3 · katalog, paketi i ekonomijaPillar 3 · catalogue, packages & economics

Prodajemo paket za segment, a ne pojedinačni uređaj.We sell a package for a segment, not a single device.

Prihod dolazi iz tri izvora: hardver, instalacija i mesečna pretplata (sadržaj portala, alarmi, izveštaji, listinzi lokalnih firmi). Podaci i portali rade na SolarNet decentralizovanom solarnom hostingu.Revenue comes from three sources: hardware, installation and a monthly subscription (portal content, alerts, reports, local business listings). Data and portals run on SolarNet decentralised solar hosting.

A · Kartice i komunikatoriA · Cards & communicators
B · Captive portal ruteri i GreenLink instalacijeB · Captive portal routers & GreenLink installations
C · Sensor & data mrežaC · Sensor & data network
Paketi po segmentimaPackages by segment
SegmentSegment PaketPackage SadržajContents Hardver + instalacija, €Hardware + install, € Pretplata, €/mesSubscription, €/mo Vrednost kupca 3 god, €3‑yr customer value, € Zašto kupujuWhy they buy
PlatformaPlatform

GRELI Cloud na SolarNet solarnom hostingu: grafikoni, alarmi (SMS, Viber, e‑mail, kartice), uređivač sadržaja portala, OTA ažuriranja. Otvoreni podaci za opštine.GRELI Cloud on SolarNet solar hosting: charts, alerts (SMS, Viber, e‑mail, cards), portal content editor, OTA updates. Open data for municipalities.

EkonomijaEconomics

Hardver: bruto marža 60–70%. Instalacija: 50%. Pretplata i listinzi: ~85%. Sa 2.500 pretplata i 300 lokalnih listinga pretplate donose ~€10k mesečno.Hardware: 60–70% gross margin. Installation: 50%. Subscriptions and listings: ~85%. With 2,500 subscriptions and 300 local listings, recurring revenue is ~€10k a month.

PartneriPartners

Elektro instalateri, integratori, turističke organizacije i agronomske službe dobijaju 20–30% provizije na hardver i 10% na pretplatu.Electrical installers, integrators, tourism boards and agronomy services get 20–30% commission on hardware and 10% on subscriptions.

Distribucija i putevi do kupcaDistribution & routes to market

Jedan lager u Srbiji, tri pravca, petnaest puteva do kupca.One warehouse in Serbia, three pillars, fifteen routes to market.

flowchart LR
  A["Espressif · EBV/Avnet · LCSC"] --> L["Lager Srbija
0% carine (FTA) + PDV"]
  M["Montaža Šenžen
JLCPCB / PCBWay / EMS"] --> F["Završna faza Srbija
test · ključevi · pakovanje"]
  L --> F
  L --> P1["1 · Čipovi
OEM · EMS · dizajn studiji"]
  F --> P2["2 · GRELI ploče
web shop · Tindie · Amazon.de · škole"]
  F --> P3["3 · Proizvodi
direktno · instalateri · opštine · outdoor"]
  P3 --> N["GRELI Mesh
solarni LoRa čvorovi"]
  P3 --> C["GRELI Cloud
pretplata"]
PravacPillar Put do kupcaRoute to market PrimerExample MaržaMargin ObimVolume NaporEffort KadaWhen
RegionRegion

Bivša Jugoslavija ima ~20 miliona ljudi i jedan razumljiv jezik: jedna dokumentacija, jedna platforma i jedan YouTube kanal pokrivaju RS, HR, BA, ME. Sa Slovenijom, S. Makedonijom, Bugarskom i Rumunijom to je tržište od ~50 miliona. Hrvatska i Slovenija su ulaz u EU za ploče i proizvode.Former Yugoslavia is ~20 million people and one mutually intelligible language: one set of docs, one platform and one YouTube channel cover RS, HR, BA, ME. With Slovenia, North Macedonia, Bulgaria and Romania it is a ~50 million market. Croatia and Slovenia are the EU gateway for boards and products.

Zašto baš miWhy us

AliExpress može da proda čip i klon ploče, ali ne može da instalira senzore u hladnjaču u Kragujevcu, izda račun školi, odgovori na srpskom i da inspekciji HACCP izveštaj. Što se više pomeramo ka pravcu 3, to je prednost lokalnog prisustva veća.AliExpress can sell a chip and a clone board, but it cannot install sensors in a cold room in Kragujevac, invoice a school, answer in Serbian or hand the inspector a HACCP report. The further we move towards pillar 3, the bigger the local advantage.

Brojke po pravcimaNumbers by pillar

Čipovi daju najveći promet, proizvodi najveću dobit.Chips bring the most revenue, products the most profit.

Prihod po pravcu, bazni scenario, k€Revenue by pillar, base case, k€

ČipoviChipsPločeBoardsProizvodiProducts

Godina 3: prihod i bruto dobit po pravcu, k€Year 3: revenue and gross profit by pillar, k€

PrihodRevenueBruto dobitGross profit

Kalkulator · proverite samiCalculator · check it yourself
Mesečni prihodMonthly revenue
od toga pretplata (€3/uređaj)of which subscriptions (€3/device)
Bruto maržaGross margin
Mesečna dobit (posle fiksnih)Monthly profit (after fixed)
Povraćaj ukupne investicije od €135kPayback on the full €135k
Rizici i odgovoriRisks & mitigations

Šta može da pođe po zlu, po pravcima, i šta radimo povodom toga.What can go wrong, by pillar, and what we do about it.

Investicija i planThe ask & the plan
€135.000

Tranša 1: €50k odmah (lager čipova, prototipovi boardova i proizvoda, pilot GRELI Mesh mreža od 30 čvorova, 5 pilot projekata). Tranša 2: €85k kada se ispune tri uslova: €15k mesečnog prihoda od čipova, 5 plaćenih pilot projekata i jedna opština koja plaća mesh okosnicu.Tranche 1: €50k now (chip stock, board and product prototypes, a 30‑node GRELI Mesh pilot, 5 pilot projects). Tranche 2: €85k once three conditions are met: €15k monthly chip revenue, 5 paid pilot projects and one municipality paying for a mesh backbone.

Raspodela sredstava po pravcimaUse of funds by pillar

Plan za 18 meseci18‑month plan