Group 1: Non-Public Offering Plan - The company plans to raise 700 million CNY through a non-public offering, with nearly 600 million CNY subscribed by RunTian Capital [1] - The company engaged with multiple investors before selecting RunTian Capital due to alignment in philosophy and ideas [1] Group 2: Gross Margin Decline - The decline in gross margin for the first half of 2015 is primarily attributed to a decrease in the gross margin of multimedia audio products, influenced by price reductions from major clients [2] - The company has implemented measures to respond to client price reductions, maintaining a relatively appropriate gross margin level for individual product series [2] Group 3: Lithium Battery Business - The company is optimistic about the development trends in the new energy industry and has established a lithium battery factory and a holding subsidiary for lithium battery cathode materials [2] - The lithium battery business, including soft-pack batteries and cathode materials, is expected to become a second major industry for the company [2]

编号：2015-13 投资者关系活动记录表 | --- | --- | --- | |---------------|----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 特定对象调研 □分析师会议 | | 投资者关 | | □媒体采访 □业绩说明会 | | 系活动类 | | □新闻发布会 □路演活动 | | 别 | □现场参观 | | | | | □其他 （请文字说明其他活动内容） | | 参与单位 | | 国信证券刘翔、马红丽、邵达；安信证券 潘暕；海通证券 陈平；广州证券 高 | | 名称及人 | | 传伦、周鹏宇；长信基金 谢恒；富国基金 孙权；广信资本 张君杰；泓德基金 | | | | | | ...

Group 1: Company Overview - The main business of Guoguang Electric includes audio products, lithium battery business, and park development, with audio business accounting for over 90% of total revenue [1] - Within the audio business, multimedia audio products contribute more than 60% of the main business revenue [1] - The lithium battery business includes soft-pack lithium batteries and lithium battery cathode materials, with a revenue of 5,865.40 million yuan in the first half of 2015 [2] Group 2: Business Challenges and Performance - The company experienced significant declines in its 2015 semi-annual and third-quarter reports due to losses in the micro speaker business and domestic brand operations, which have been unprofitable for several years [2] - The OEM/ODM audio business generated approximately 100 million yuan in profit, while the micro speaker business has been struggling due to a lack of development and technical teams [2] Group 3: Future Development and Strategy - The company aims to enhance its competitiveness in the micro speaker market by introducing specialized talent and focusing on acoustic design [3] - Plans to increase automation in production to improve product quality and efficiency, with 2-3 automated production lines already in operation [3] - Future development will emphasize the design and manufacturing advantages in speaker technology, with non-public offering projects focusing on speaker business [3] Group 4: Strategic Partnerships - Guoguang Electric has partnered with RunTian Capital for strategic cooperation, focusing on resource integration and industry expansion related to audio and electronic businesses [3]

Group 1: Product Development and Strategy - The company is focusing on new technology and multimedia connectivity for its audio products, targeting high-end markets in Europe and emerging countries [1] - The lithium battery business includes small batteries and cathode materials, with an emphasis on technological upgrades and production control to secure more orders [1] - The NCM materials are expected to generate sales in the second half of 2014, although the overall gross margin is relatively low [1] Group 2: Electric Python Product Insights - The Electric Python Cloud Speaker is a product from a subsidiary in which the company holds a 14.29% stake, with various stakeholders involved in its development [2] - The product has been on the market since July 2014, but initial sales are low due to low consumer awareness [2] - Future developments will focus on creating more affordable and high-quality products based on the first generation [2] Group 3: Future Development Plans - The company plans to develop an intelligent electronic industrial park in Guangzhou, with an initial investment of 150 million yuan for land acquisition [2] - The industrial park aims to incubate electronic technology enterprises and will involve collaboration with external professionals for planning and construction [2]

投资者关系活动记录表 编号：2015-04 | --- | --- | --- | |---------------|------------------------------------------|--------------------------------------------------------------------------| | | 5特定对象调研 □分析师会议 | | | 投资者关 | □媒体采访 □业绩说明会 | | | 系活动类 | □新闻发布会 □路演活动 | | | 别 | □现场参观 | | | | □其他 （请文字说明其他活动内容） | | | 参与单位 | 国信证券经济研究所 刘翔 | | | 名称及人 | 国信证券经济研究所 邵达 | | | 员姓名 | | | | | 时间 2015 年 4 月 17 日下午 15：45—17:30 | | | | 地点 公司 206 会议室 | | | 上市公司 | | 董事、副总裁、董事会秘书郑崖民，证券事务代表张金辉 | | 接待人员 姓名 | | | | | | 本次接待主要围绕上市以来营业收入变化原因、行业和公司未来发 ...

Group 1: Company Overview - The main business of Guoguang Electric includes audio products, lithium battery business, and park development, with audio business revenue accounting for over 90% of total revenue [1] - Within the audio business, multimedia audio products contribute more than 60% of the main business revenue [1] - The lithium battery business includes soft-pack lithium batteries and lithium battery cathode materials, with the soft-pack lithium battery business primarily conducted by a subsidiary [1] Group 2: Micro Acoustics Business Development - The micro speaker business has seen continuous improvement in competitiveness over the past four years, with breakthroughs in acoustic design [2] - The company has introduced specialized talent for the micro speaker business, focusing on enhancing sound quality as a key technical route for development [2] - Automation is being adopted to replace outdated manual production lines, with 2-3 automated production lines already in operation and plans to enhance manufacturing capacity over the next 2-3 years [2] Group 3: Research and Development Focus - Future research and development in acoustics will emphasize integration with circuit and algorithm design to achieve better sound effects [2][3] Group 4: Industrial Park Development Plans - The Guangzhou Intelligent Electronic Industrial Park was established in October 2014, with a planned construction area of 300,000 square meters for the first phase [3] - The industrial park aims to provide comprehensive technology services, including public, financial, incubation, talent, research, and operational support for resident companies [3] - The park will explore various profit models beyond rental income, including service fees for the provided services [3]

Group 1: Company Development Outlook - The company is seeking transformation, with plans to enhance the core technology content of its OEM business over the next 2-3 years to bridge the gap with Europe and the U.S. [1] - An overseas R&D team has been established alongside a domestic team to develop core technology products [1] - Future revenue streams will expand beyond traditional speaker sales to include Wi-Fi modules, chips, and software [1] Group 2: Automation and Production - Currently, the company is labor-intensive but plans to gradually increase the coverage of automated production lines due to rising labor costs and customer demands for automation [2] - The need for automation is driven by the perception that machine-produced products offer higher stability and quality [2] Group 3: Market Trends and Performance - The company anticipates a general performance in the first half of the year, with expectations for better results in the second half, traditionally a peak season for consumer electronics [2] - The soft-pack lithium battery business is expected to maintain stable growth in 2016, with a focus on NCM products while aiming for some sales of NCA products [2] Group 4: Acoustic Business Development - The company sees future growth in the acoustic business, focusing on enhancing auditory experiences to match advancements in visual technology [2]

Group 1: Business Overview - The company's speaker business has a relatively high gross margin and is a key focus for future development, with plans to increase R&D investment and equipment upgrades to meet customer demands [1] - The company anticipates new customer growth, particularly from Japanese and Korean enterprises, with expected performance contributions in 2017-2018 [2] - The company aims to position itself as a comprehensive acoustic solution provider, integrating various technologies beyond just speakers [2] Group 2: Market Insights - The company recognizes the potential of internet audio products as a significant business opportunity, aligning with global trends in consumer electronics [2] - The automotive speaker segment has not been a focus for development, with over 70% of revenue currently coming from multimedia audio products [2] Group 3: Financial Health - The company has approximately 100 million in cash on hand, with R&D expenditures of over 60 million in the first half of 2016 [2] - The asset-liability ratio is around 50%, indicating a moderate financial position, with plans for potential equity financing if business expansion accelerates [2] Group 4: Infrastructure Development - The smart electronics industrial park project will involve a total investment of about 2 billion, with a planned construction area of approximately 160,000 square meters [3] - The first phase of the project, covering 130,000 square meters, is already under construction and progressing smoothly [3]

投资者关系活动记录表 编号：2017-01 | --- | --- | --- | --- | |----------|-------------------------|--------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------| | | | 特定对象调研 □分析师会议 | | | | | □媒体采访 □业绩说明会 | | | 投资者关 | □ □现场参观 | 新闻发布会 □路演活动 | | | 系活动类 | □ | 其他 （请文字说明其他活动内容） | | | 别 | | | | | 参与单位 | | 博时基金管理有限公司 赵易 | | | 名称及人 | | | | | 员姓名 | | | | | 时间 | 2017 年 5 月 12 | 日（下午 15 时—16 时） | | | 地点 | 公司 208 会议室 | | | ...

Group 1: Business Overview - The company primarily focuses on speaker and audio products, with a shift towards becoming a comprehensive speaker supplier [1] - As of 2017, the audio assembly business accounts for approximately 70% of the company's main business revenue [1] - The company has increased its investment in electronics since around 2002, transitioning from solely manufacturing speaker units to audio product assembly [1] Group 2: Product Differentiation - The company differentiates between large speakers and miniature speakers, emphasizing acoustic craftsmanship for large speakers and precision manufacturing for miniature speakers [2] Group 3: Performance Outlook - The audio business is the main revenue driver, with significant growth observed in Q1 2017, and the company expects stable revenue growth for the full year [2] Group 4: Strategic Partnerships - The collaboration with Tianyuan Group focuses on lithium battery cathode materials, leveraging both companies' strengths in the new energy sector [2] Group 5: Future Development Plans - The company is developing the 2025Park industrial park, with the first phase expected to be completed by October 2017, aiming to provide comprehensive technology services for tenant companies [2]