Financial Performance - The company's revenue for Q3 2024 reached CNY 3,637,808,901.72, representing a year-on-year increase of 12.19%[2] - Net profit attributable to shareholders for the same period was CNY 425,068,768.87, reflecting a growth of 14.55% compared to the previous year[2] - The net profit after deducting non-recurring gains and losses was CNY 413,392,377.72, which is an increase of 16.52% year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached ¥10,869,000,223.68, an increase of 10.0% compared to ¥9,883,276,480.58 in the same period of 2023[15] - Net profit attributable to shareholders of the parent company was ¥1,269,452,759.13, compared to ¥1,103,223,169.07 in the previous year, marking an increase of 15.1%[16] - The company reported a net profit margin of approximately 11.7% for the first three quarters of 2024, compared to 11.2% in the same period of 2023[16] - The total comprehensive income for the period was ¥1,661,538,192.86, compared to ¥1,503,812,720.35, showing an increase of 10.5%[17] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 20,594,367,189.17, marking a 16.20% increase from the end of the previous year[3] - The company's current assets amounted to RMB 12,912,704,031.91, up from RMB 10,612,669,606.94, indicating a growth of about 21.6%[13] - Total liabilities increased to RMB 12,912,704,031.91, up from RMB 10,612,669,606.94, indicating a growth of approximately 21.6%[13] - The company's total liabilities increased to ¥8,381,500,962.63 from ¥6,666,000,759.08, representing a growth of 25.7%[14] Shareholder Information - The equity attributable to shareholders reached CNY 9,144,352,343.89, up by 9.63% compared to the previous year[3] - Major shareholder, Youge Venture Capital Co., Ltd., holds 27.35% of the shares, amounting to 285,154,494 shares[7] - The total number of ordinary shareholders at the end of the reporting period was 25,187[6] Cash Flow and Investments - In the first three quarters of 2024, the cash inflow from operating activities reached ¥10,372,549,384.75, an increase of 11.14% compared to ¥9,334,270,736.62 in the same period of 2023[18] - The net cash flow from operating activities for the first three quarters of 2024 was ¥1,205,381,511.64, down from ¥1,665,300,362.75 in 2023, indicating a decline of 27.53%[19] - The cash inflow from investment activities in the first three quarters of 2024 was ¥1,099,879,904.92, significantly higher than ¥140,299,091.40 in 2023, marking an increase of 684.14%[19] - The net cash flow from investment activities was negative at -¥2,023,562,543.97 in 2024, compared to -¥1,194,583,616.59 in 2023, indicating a worsening of 69.25%[19] - The total cash and cash equivalents at the end of the third quarter of 2024 were ¥1,403,451,953.76, down from ¥1,767,005,550.38 in 2023, a decrease of 20.56%[19] Costs and Expenses - Total operating costs for the same period were ¥9,101,383,695.41, up from ¥8,107,114,145.44, reflecting a growth of 12.3%[15] - Research and development expenses for the first three quarters amounted to ¥534,870,405.18, an increase from ¥474,292,081.09, reflecting a growth of 12.8%[15] - Cash outflow for purchasing goods and services increased to ¥5,803,293,347.83 in 2024 from ¥4,637,613,209.24 in 2023, representing a rise of 25.14%[18] - The cash outflow for employee compensation rose to ¥2,119,921,480.78 in 2024 from ¥1,905,001,505.81 in 2023, an increase of 11.26%[19] Other Financial Metrics - The weighted average return on net assets was 4.76%, an increase of 0.14 percentage points from the previous year[3] - Basic earnings per share for the quarter was CNY 0.4077, reflecting a year-on-year increase of 14.55%[2] - Basic earnings per share for the period were ¥1.2175, compared to ¥1.0581 in the same period last year, an increase of 15.1%[17] - Long-term borrowings increased significantly to ¥712,102,225.81 from ¥118,698,401.88, a rise of 499.8%[14] Strategic Developments - The company has not disclosed any new strategies or product developments in this report[12]

Investment Rating - The report assigns a "Buy" rating to the company, Hongfa Technology Co., Ltd. (600885.SH) [1]. Core Insights - Hongfa Technology maintains a strong position as a global leader in the relay industry, with a market share of 21.6% in 2023. The company has shown steady revenue growth, with a 8.38% year-on-year increase in revenue to 72.31 billion yuan in the first half of 2024, and a 19.59% increase in net profit to 8.44 billion yuan [1]. - The company benefits from the growing demand in the new energy and electrification sectors, with a well-rounded product portfolio that includes high-voltage DC relays, automotive relays, power relays, and industrial relays [1][2]. - The company's strategy of expanding product categories and entering new markets is expected to drive future growth, particularly in low-voltage electrical products and other electrical components [1][2]. Summary by Sections 1. Company Leadership in Relay Industry - Hongfa Technology has established itself as a leader in the relay industry since its founding in 1984, with a focus on quality and market share [5][64]. - The company has undergone three phases of development, with significant milestones including the establishment of overseas subsidiaries and a shift to a joint-stock company structure [64][65]. 2. Stable Profitability and Business Expansion - The company's revenue has consistently increased, with a notable rise in global market share and expansion into overseas markets, particularly in the new energy vehicle sector [70][72]. - The gross margin for relay products was reported at 39% in 2023, indicating strong profitability compared to other product lines [72]. 3. Industry Growth Driven by New Energy - The relay industry is experiencing robust growth, particularly due to the electrification of vehicles and the expansion of renewable energy applications [77][81]. - The demand for high-voltage DC relays is expected to rise significantly as the market for electric vehicles grows, with the company positioned to benefit from this trend [85][89]. 4. "Internal Growth + External Expansion" Strategy - The company emphasizes quality in its operations and is expanding its product offerings through both internal development and acquisitions [100][101]. - Hongfa Technology is actively pursuing international expansion, with plans to establish manufacturing facilities in key markets such as Germany and Indonesia [109][110]. 5. Profit Forecast and Valuation - Future revenue projections for the company are optimistic, with expected revenues of 96.39 billion yuan in 2024, growing at a rate of 14.4% [111]. - The projected net profits for 2024-2026 are 16.67 billion yuan, 19.31 billion yuan, and 21.95 billion yuan, reflecting a strong growth trajectory [113].

| 股票代码：600885 | 公司简称：宏发股份 | 公告编号：临 | 2024-059 | | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | 宏发科技股份有限公司 第十一届董事会第三次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性 和完整性承担法律责任。 （一）、董事会会议召开情况 宏发科技股份有限公司（以下简称"公司"或者"宏发股份"）于 2024 年 10 月 25 日以 电子邮件和电话通知的方式向公司全体董事、监事和高级管理人员发出召开第十一届董事会 第三次会议的通知，会议于 2024 年 10 月 30 日上午在公司会议室以通迅方式召开。会议应到 董事 9 名，实到董事 9 名，公司监事和高级管理人员列席会议。会议由董事长郭满金先生主 持，会议的召集和召开符合《公司法》、《证券法》和《公司章程》的有关规定，会议决议合 法有效。 （二）、董事会会议审议情况 一、审议通过了《2024 年第三季度报告》 公司为深入贯彻中央经济工作会议和中央金融工作会议精神，落实国 ...

| 证券代码：600885 | 证券简称：宏发股份 | 编 | 号：临 | 2024—063 | | --- | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | | http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 宏发科技股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示: 投资者可于 2024 年 11 月 04 日(星期一)至 11 月 08 日(星期五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司投资者关系邮 箱 zqb@hongfa.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 宏发科技股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日发布公司 2024 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2024 年第三季度经营成果、财务状况，公司计划于 2 ...

Financial Performance - The total revenue for the third quarter reached CNY 3,637,808,901.72, representing a year-on-year increase of 12.19%[2] - The net profit attributable to shareholders was CNY 425,068,768.87, reflecting a growth of 14.55% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses was CNY 413,392,377.72, with a year-on-year increase of 16.52%[2] - The basic earnings per share (EPS) was CNY 0.4077, up by 7.04% from the previous year[2] - Total operating revenue for the first three quarters of 2024 reached ¥10,869,000,223.68, an increase of 10.0% compared to ¥9,883,276,480.58 in the same period of 2023[16] - Operating profit for the first three quarters of 2024 was ¥1,918,217,165.42, up from ¥1,719,060,244.10 in the previous year, reflecting a growth of 11.6%[16] - Net profit attributable to shareholders of the parent company for the first three quarters of 2024 was ¥1,269,452,759.13, compared to ¥1,103,223,169.07 in 2023, marking an increase of 15.1%[17] - The company reported a total profit of ¥1,916,259,247.12 for the first three quarters of 2024, an increase from ¥1,716,004,237.51 in the same period of 2023, representing a growth of 11.7%[17] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 20,594,367,189.17, an increase of 16.20% from the end of the previous year[4] - The equity attributable to shareholders reached CNY 9,144,352,343.89, marking a 9.63% increase year-on-year[4] - As of September 30, 2024, the total assets of Hongfa Technology Co., Ltd. reached RMB 20,594,367,189.17, an increase from RMB 17,723,687,718.05 at the end of 2023, representing a growth of approximately 10.4%[13] - The total liabilities increased to ¥8,381,500,962.63 in Q3 2024 from ¥6,666,000,759.08 in Q3 2023, representing a growth of 25.7%[15] - The total equity increased to ¥12,212,866,226.54 in Q3 2024 from ¥11,057,686,958.97 in Q3 2023, reflecting a growth of 10.4%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,205,381,511.64, down by 27.62% compared to the previous year[2] - In the first three quarters of 2024, the cash inflow from operating activities reached ¥10,372,549,384.75, an increase of 11.14% compared to ¥9,334,270,736.62 in the same period of 2023[20] - The net cash flow from operating activities for the first three quarters of 2024 was ¥1,205,381,511.64, down 27.53% from ¥1,665,300,362.75 in 2023[20] - The cash inflow from investment activities was ¥1,099,879,904.92, significantly higher than ¥140,299,091.40 in the previous year, marking a growth of 684.36%[21] - The cash outflow from financing activities totaled ¥1,700,292,404.76, compared to ¥577,510,010.05 in the previous year, reflecting an increase of 194.36%[21] - The net cash flow from financing activities was ¥490,953,903.07, a turnaround from -¥25,546,421.37 in the same period of 2023[21] Operational Metrics - The weighted average return on equity (ROE) was 4.76%, a decrease of 0.18 percentage points compared to the previous year[2] - Research and development expenses for the first three quarters of 2024 were ¥534,870,405.18, an increase from ¥474,292,081.09 in the same period of 2023, indicating a rise of 12.8%[16] - The total operating costs for the first three quarters of 2024 were ¥9,101,383,695.41, up from ¥8,107,114,145.44 in the previous year, reflecting a rise of 12.3%[16] Market Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[2] - The company has not disclosed any new product developments or market expansion strategies in the provided data[13]

| 股票代码：600885 | 公司简称：宏发股份 | 公告编号：临 | 2024-060 | | --- | --- | --- | --- | | 转债代码：110082 | 转债简称：宏发转债 | | | 宏发科技股份有限公司 第十一届监事会第二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性 和完整性承担法律责任。 一、监事会会议召开情况 宏发科技股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日以电子 邮件和电话通知的方式向公司全体监事发出召开第十一届监事会第二次会议的 通知，会议于 2024 年 10 月 30 日上午在公司会议室以通迅方式召开。会议应到 监事 3 名，实到监事 3 名。会议由监事会主席郭晔先生主持，会议的召集和召开 符合《公司法》、《证券法》和《公司章程》的有关规定，会议决议合法有效。 二、监事会会议审议情况 1、审议通过了《2024 年第三季度报告》 综上，同意公司使用不超过 30 亿元的闲置自有资金进行现金管理。 具体内容详见公司同日披露《宏发股份：关于使用部分闲置自有资金进行现 金 ...

| 股票代码：600885 | 公司简称：宏发股份 | 公告编号：临 | 2024-062 | | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | 宏发科技股份有限公司 2024年提质增效重回报行动方案 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性 和完整性承担法律责任。 四、坚持规范运作，提高公司治理效能 公司始终致力于优化内部生产经营结构，以更高效的方式服务于市场。公司 依据主要子公司的专业生产经营业务，形成了以第一事业部、第二事业部、第三 宏发科技股份有限公司（以下简称"宏发"或"公司"）为深入贯彻中央经 济工作会议和中央金融工作会议精神，落实国务院《关于进一步提高上市公司质 量的意见》，以及上海证券交易所《关于开展沪市公司"提质增效重回报专项行 动"的倡议》的要求，持续提升上市公司质量，增强投资者回报与获得感，制定 了2024年度"提质增效重回报"行动方案。具体措施如下： 一、全面实施'75+'战略，努力打造强大实力，实现持续良性发展 公司在新的指导思想"坚守发扬宏发特色，全 ...

股票代码：600885 公司简称：宏发股份 公告编号：临 2024-061 债券代码：110082 债券简称：宏发转债 宏发科技股份有限公司 关于使用闲置自有资金进行现金管理额度的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： （一）投资目的 在不影响公司正常生产经营的前提下，使用部分闲置自有资金进行委托理 财，可以进一步提高公司及子公司闲置自有资金的使用效率，增加公司收益。 （二）投资金额 （四）投资品种 公司将选择资信状况良好、无不良诚信记录、合格专业的理财机构作为受托 方，包括商业银行、证券公司等金融机构。委托理财资金用于投资我国市场信用 级别较高、流动性较好的金融工具，包括但不限于商业银行、证券公司等金融机 构发行的中低风险理财产品（包含银行结构性存款）等。 （五）本次额度期限 本次委托理财额度有效期自第十一届董事会第三次会议通过之日起 12 个月 内有效。 二、审议程序 公司于 2024 年 10 月 30 日召开第十一届董事会第三次会议和第十一届 监事会第二次会议，审议通过了《关于使用部 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示: 宏发科技股份有限公司 关于控股股东部分股份质押的公告 公司于2024年10月 28 日获悉本公司控股股东有格投资所持有本公司的部 分股份被质押，具体情况如下。 | 证券代码：600885 | 证券简称：宏发股份 | 编 | 号：临 | 2024—058 | | --- | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | | 截止本公告日，公司控股股东有格创业投资有限公司（以下简称"有格投资"） 持有宏发科技股份有限公司（以下简称"公司"或"本公司"）股份数量为 285,154,494 股，占本公司总股本的 27.35%。有格投资持有本公司股份累计 质押数量（含本次）为 66,378,000 股，占其持有的本公司股份的 23.28%， 占本公司总股本的 6.37%。 公司将严格遵守相关法律法规的规定，及时履行信息批露义务。 请广大投资者理性投资，注意风险。 特此公告。 宏发科技股份有限公司董事会 202 ...

| 股票代码：600885 | 公司简称：宏发股份 | 公告编号：临 | 2024-057 | | --- | --- | --- | --- | | 债券代码：110082 | 债券简称：宏发转债 | | | 宏发科技股份有限公司 关于"宏发转债"2024年付息公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 宏发科技股份有限公司（以下简称"公司"或"本公司"）于 2021 年 10 月 28 日发行的可转换公司债券（以下简称"可转债"）将于 2024 年 10 月 28 日开始支付自 2023 年 10 月 28 日至 2024 年 10 月 27 日期间的利息。根 据《宏发科技股份有限公司公开发行可转换公司债券募集说明书》（以下简称"募 集说明书"） 有关条款的规定，现将有关事项公告如下： （1）年利息计算 年利息指可转债持有人按持有的可转债票面总金额，自可转债发行首日 （2021 年 10 月 28 日，T 日）起每满一年可享受的当期利息。年利息的计算公式 为： 一、宏发转债发行上市概况 7、 ...