广东板块短线拉升，珠江钢琴、红棉股份、珠江股份、*ST建艺（维权）、普路通等多股涨停，佛塑科 技、顺控发展、天银机电、ST岭南（维权）、风华高科、方正科技等跟涨。 广东板块短线拉升，珠江钢琴、红棉股份、珠江股份、*ST建艺（维权）、普路通等多股涨停，佛塑科 技、顺控发展、天银机电、ST岭南（维权）、风华高科、方正科技等跟涨。 ...

Core Viewpoint - Fenghua High-Tech's stock has experienced fluctuations, with a recent decline in price and significant net outflow of funds, indicating potential investor concerns about the company's performance and market position [1][2]. Financial Performance - For the period from January to September 2025, Fenghua High-Tech reported a revenue of 4.108 billion yuan, representing a year-on-year growth of 15.00%. However, the net profit attributable to shareholders decreased by 13.95% to 228 million yuan [2]. - The company has cumulatively distributed 1.576 billion yuan in dividends since its A-share listing, with 344 million yuan distributed over the past three years [3]. Stock Market Activity - As of December 18, Fenghua High-Tech's stock price was 15.61 yuan per share, with a market capitalization of 18.061 billion yuan. The stock has seen a year-to-date increase of 9.92%, but has declined by 5.05% in the last five trading days and 7.96% over the past 20 days [1]. - The company has appeared on the "龙虎榜" (a trading board for stocks with significant trading activity) once this year, with a net buy of 183 million yuan on October 24 [1]. Shareholder Information - As of November 28, the number of shareholders for Fenghua High-Tech was 98,300, a decrease of 9.10% from the previous period. The average number of circulating shares per shareholder increased by 10.01% to 11,771 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 17.883 million shares, an increase of 8.0845 million shares compared to the previous period [3].

在新能源汽车800V高压平台、数据中心800V（±400V）HVDC架构、1000V +光伏储能系统及高端 医疗设备等高端需求市场，电子元器件的"极致可靠性"与"自主可控"已成为制造业国产突围的核心点。 风华高科在国内首家推出AS系列车规高精密厚膜片式电阻，以材料与工艺的双重创新，实现从"跟 跑"到"领跑"的技术跨越，为我国高端电子产业链筑牢关键安全屏障。 技术破局：攻克行业顽疾，打破垄断 长期以来，高电压精密采样领域深陷"双重困境"：薄膜电阻易受瞬时电气过载失效、水汽入侵引发 电腐蚀；普通厚膜电阻则面临硫化失效、银迁移等致命痛点，高端产品长期被国外垄断，国内供应 链"供给受限、成本高企"。 风华高科AS系列电阻以三大核心创新实现破局： 其一，采用高纯度氧化铝基板搭配特殊优化电阻浆料，结合创新烧结工艺与精密激光调阻技术，将 温度系数（TCR）精准控制在 ±25ppm/℃的业界领先水平，阻值精度稳定在±0.1%，1000小时双85试验 阻值变化率收窄至 ±0.2%R以内； 其二，叠加专属抗硫化专利技术，耐硫化能力提升至1000h，同步攻克银迁移难题，电压系数较普 通厚膜电阻大幅优化，彻底根除高电压场景下 "失效 ...

Group 1 - The core viewpoint of the article is that Fenghua High-Tech has successfully integrated its products, such as anti-sulfur resistors, MLCCs, and RF inductors, into optical module applications [2] Group 2 - The company responded to investor inquiries on its interactive platform regarding the application of its products [2]

Core Viewpoint - Fenghua High-Tech (000636) acknowledges the significant market share advantage held by Japanese and South Korean manufacturers in the global electronic components sector, indicating a substantial opportunity for domestic companies to increase their market share and replace imports [1] Group 1: Market Position and Opportunities - Domestic electronic component manufacturers have considerable room for market share growth, given the current demand in the domestic market [1] - The company plans to actively seize opportunities presented by technological innovation and emerging markets [1] Group 2: Strategic Initiatives - The company intends to increase research and development investments and expand market outreach [1] - There is a focus on optimizing product structure and accelerating the transition to high-end manufacturing [1]

Core Viewpoint - Fenghua High-Tech (000636) emphasizes the integral role of PCB (Printed Circuit Board) and electronic components in forming complete electronic systems, which determine the performance, reliability, and cost of electronic end products [1] Group 1: Company Insights - The company has confirmed that its products, including anti-sulfur resistors, MLCC (Multi-Layer Ceramic Capacitors), and RF inductors, are directly applied in optical module products [1] Group 2: Industry Context - PCB and electronic components are essential components of electronic circuits, working together to create a complete electronic system [1]

证券日报网讯12月11日，风华高科（000636）在互动平台回答投资者提问时表示，2025年前三季度公司 主营产品产能利用率维持在较高水平；公司将围绕主业，并瞄准新兴应用领域规划布局新产能，近期公 司投资立项建设"高端电阻技改扩产项目"和"新增月产1亿只大电流叠层电感器技改扩产项目"，布局新 兴领域所需高端电子元件，助力企业高端转型。 ...

Core Viewpoint - Fenghua High-Tech (000636) has been deeply engaged in the electronic components industry for over 40 years, showcasing a comprehensive industrial system, strong R&D capabilities, diverse market applications, and significant brand influence [1] Group 1: Company Strengths - The company possesses five national-level innovation platforms [1] - It is recognized as a "chain leader" in the basic electronic components industry in Guangdong Province [1] - Core products, including chip resistors and chip capacitors, are both classified as "national-level manufacturing single champion products" [1]

Core Viewpoint - The company is increasing its R&D investment and optimizing its product structure to enhance high-end products and emerging market applications [1] Group 1: R&D and Product Strategy - The company is continuously increasing R&D investment [1] - The company is focusing on optimizing its product structure [1] - There is a sustained improvement in high-end products and applications in emerging markets [1] Group 2: Market Opportunities - The company aims to seize opportunities for domestic substitution of high-end electronic components [1] - The strategy is market demand-oriented, emphasizing continuous technological innovation and market expansion [1] - The company plans to further upgrade its product structure towards high-end products [1]

证券日报网讯12月11日，风华高科（000636）在互动平台回答投资者提问时表示，近年来公司通过持续 技术创新引领产品结构转型升级，与核心客户的合作持续深入，客户认可度和品牌影响力持续提升，具 备为客户提供整体配套及一站式采购服务和解决方案的能力。 ...