证券代码：002194 证券简称：武汉凡谷 编号：170501 武汉凡谷电子技术股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|--------------------------------|----------------------------------------------------------------| | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □其他 | | | 参与单位名称及 | | 新华基金：张欢 天风证券：姜佳汛 | | 人员姓名 | | 平安银行：陈琳 阳光保险：王涛 | | | | 方正证券：宋辉 兴业证券：熊彬正 | | | 英大保险资产管理有限公司：万冬 | | | 时间 | 2017 年 5 月 10 | 日上午 10：20 -11：30 | | 地点 | 公司 16 号楼证券部会议室 | | | 上市公司接待人 员姓名 | 邹堃、李珍 | | ...

证券代码：002194 证券简称：武汉凡谷 编号：161201 武汉凡谷电子技术股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-------------------------|--------------------------------------------------------------| | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □ 现场参观 □其他 | | | 参与单位名称及 | | 华创证券：张弋 巨杉资产：秦宇斌 | | 人员姓名 | | 华虹科技投资管理有限公司：柳东、陈鼎 | | 时间 | 2016 年 12 月 5 | 日上午 10:00-11:10 | | 地点 | 公司 16 | 号楼证券部会议室 | | 上市公司接待人 员姓名 | 王志松、邹堃、李珍 | | | | Q | ：请简要介绍下公司所处的行业？ | | 投资者关系活动 主要内容介绍 | A ...

证券代码：002194 证券简称：武汉凡谷 武汉凡谷电子技术股份有限公司投资者关系活动记录表 编号：170301 | --- | --- | --- | |-----------------------|----------------------------|----------------------------------------------------------------| | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □其他 | | | 参与单位名称及 | | 天风证券：容志能 创金合信基金：周志敏 | | 人员姓名 | | 财富证券：许亮 广州证券：周鹏宇 | | 时间 | 2017 年 3 月 10 | 日上午 10：20-11：40 | | 地点 | 公司 16 | 号楼证券部会议室 | | | | | | 上市公司接待人 员姓名 | 邹堃、李珍 | | | 投资者关系活动 | | 首先，公司董事会秘书向来访者介绍了公司所处的行业、公司产 ...

证券代码：002194 证券简称：武汉凡谷 武汉凡谷电子技术股份有限公司投资者关系活动记录表 编号：170101 | --- | --- | --- | |-----------------------------|------------------------------|--------------------------------------------------------------| | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □其他 | | | 参与单位名称及 | | 天风证券：程立 平安证券：汪敏 | | 人员姓名 | | 华夏基金：张永兴 华信资产：陈昊 | | | 新海天资本：彭霞、汪畅 | | | 时间 | 2017 年 1 月 20 | 日上午 9:30-11:10 | | 地点 | 公司 16 号楼证券部会议室 | | | 上市公司接待人 员姓名 | 邹堃、范志辉、李珍 | | | | 调研会议以 Q&A | 方式进行，主要沟通 ...

Group 1: Company Overview - Wuhan Fangu Electronics Technology Co., Ltd. was established in 1989, focusing on wireless communication, primarily in access networks, transmission networks, and core networks [2] - The company's main products are filters, with a significant portion of its business related to filtering functions [2] Group 2: Client Relationships - Huawei is the largest client, accounting for approximately two-thirds of the company's revenue [3] - The company has maintained a strong partnership with Huawei for over 20 years, ensuring a high share of orders from them annually [4] Group 3: Market Expansion and Sales Strategy - The company focuses on increasing market share within existing client orders rather than acquiring new clients, as the market is relatively concentrated [3] - The sales strategy is influenced by downstream demand from mobile operators and clients' supply chain strategies [3] Group 4: Product Development and Certification - The typical business process includes becoming a qualified supplier, accepting product specifications, bidding, R&D, product certification, and mass production [4] - The company has begun supplying small batches of 5G products for external testing, indicating readiness for the upcoming market demands [5] Group 5: Production Capacity and Future Plans - Current production capacity is over 200,000 sets annually, with plans to expand to 300,000 sets by 2018 [8] - The average price of the company's products is under 1,000 yuan [8] - Future financing will be considered based on business progress and market conditions, particularly for technology upgrades and capacity expansion [8] Group 6: Industry Trends and Challenges - The transition to 5G is expected to increase the number of small base stations due to higher frequency communication requiring denser coverage [6] - The company is evaluating the feasibility of entering the consumer electronics market, acknowledging the different technical paths involved [7]

证券代码：002194 证券简称：武汉凡谷 编号：180101 武汉凡谷电子技术股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-------------------------|------------------------------------------------------------------| | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | | □ 现场参观 □其他 | | | 参与单位名称及 | 太平洋证券：赵良毕 | | | 人员姓名 | | | | 时间 | 2018 年 1 月 12 | 日上午 10:00 -11：20 | | 地点 | 公司 4 号楼 3 | 楼会议室 | | 上市公司接待人 员姓名 | 邹堃、黄丹 | | | | 调研会议以 Q&A | 方式进行，主要沟通问题如下： | | 投资者关系活动 主要内容介绍 | Q ：目前对于 5G | 市场上存在两 ...

证券代码：002194 证券简称：武汉凡谷 编号：191101 武汉凡谷电子技术股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|-----------------------------------------|----------------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 □分析师会议 | | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □ | 其他 | | 参与单位名称及 | 中金公司：闫慧辰 | 华泰证券：陈歆伟、付东 | | 人员姓名 | 德邦证券：张天 东兴证券：李美贤 | | | | | 融通基金：田祥光 中国人寿资产管理：章翔 | | | 中国平安：韩允健 | 华安财保资产管理：刘宇辙 | | | 申万菱信基金：孙琳 | | | 时间 | 2019 年 11 月 4 日下午 | 1:30 | | 地点 | 公司 4 号楼 3 ...

Company Overview - Wuhan Fangu Co., Ltd. was established in 1989 and listed on the Shenzhen Stock Exchange in 2007 [3] - The company specializes in the R&D, production, sales, and service of RF devices and subsystems, focusing on filters, duplexers, and RF subsystems [4] Market Position - The company has been a leader in the filter sector for nearly 30 years and is recognized as a "strategic supplier," "core supplier," and "preferred supplier" by major clients [4][8] - Major clients include top telecommunications equipment integrators such as Huawei, Ericsson, and Nokia [4][8] Financial Performance - In the first three quarters of the year, the company reported a revenue of 1.14 billion, a year-on-year increase of 41.48% [7] - Profit reached 1.14 million, showing a significant year-on-year growth of 285.32% [7] - Cash flow from operating activities turned positive, reaching 1.26 million, a year-on-year increase of 581.80% [7] 5G Development - The issuance of 5G licenses in June 2019 marked the official entry into the commercial era of 5G, with significant capital expenditure planned by major operators [5] - The company has established a milestone plan for 5G ceramic filters, with some models already in mass production [5][6] - The company is adapting to the evolving market by expanding production capacity based on changing customer demands [5] Competitive Landscape - The company has a competitive edge due to its long-standing focus on the filter sector and comprehensive technical reserves [6] - The market for ceramic filters is becoming increasingly competitive, with more domestic manufacturers entering the field [6] - The company aims to leverage its accumulated advantages to compete effectively against global players like KWM [6] Client Relationships - The company maintains strong relationships with major clients, which are crucial for its market position [8] - Client evaluations vary, but the company has received positive feedback from long-term partners like Ericsson and Nokia [8]

Group 1: Company Overview - Wuhan Fangu Co., Ltd. was established in 1989 and listed on the Shenzhen Stock Exchange in 2007. The company specializes in the R&D, production, sales, and service of RF devices and subsystems, primarily focusing on filters, duplexers, and RF subsystems [3]. - The company has maintained a leading position in the filter sector for nearly 30 years, with major clients including Huawei, Ericsson, and Nokia [3]. Group 2: Financial Performance - In Q3 2019, the company achieved a revenue of 405 million CNY, representing a year-on-year increase of 31.68% [3]. - The net profit attributable to shareholders was 48.3014 million CNY, up 186.02% year-on-year [3]. - For the first three quarters of 2019, total revenue reached 1.198 billion CNY, a year-on-year growth of 41.48%, with a net profit of 118 million CNY, reflecting a 322.49% increase [4]. Group 3: 5G Product Development - The company is actively synchronizing its 5G product development with customer needs, with some models already certified and sold, while others are still undergoing certification [4]. - Currently, the majority of the company's revenue still comes from 4G products [4]. Group 4: Production Capacity and Market Demand - Factors affecting production capacity include market demand, technical complexity, production efficiency, and quality requirements. The company currently has sufficient orders and is operating at full capacity [4]. - The company aims to maintain flexible production capabilities to meet customer demands [4]. Group 5: Customer Concentration - The mobile communication equipment industry is highly concentrated, with major clients being the top three global mobile communication equipment manufacturers: Huawei, Ericsson, and Nokia [5]. - Sales proportion details can be referenced from the 2018 annual report [5]. Group 6: Investment Activities - The company has established an industrial investment fund focused on the communication sector, with investments in Shenzhen Noxinbo Communication Co., Ltd. and Ningbo Jujia New Materials Technology Co., Ltd. [6]. - The investments in these companies are relatively small and are not expected to significantly impact the company's financial status or operational results for the year [6]. Group 7: Shareholder Actions - The company has disclosed plans for share reductions by major shareholders, which will not significantly affect the company's fundamentals [6]. - The gross profit margin has gradually recovered, reaching approximately 23% in the first three quarters of 2019 [6].

Group 1: Company Performance - The company reported a 47% increase in revenue from RF device products compared to the same period last year, achieving sales of 792 million yuan in the first half of 2019 [2][3]. - The net profit, excluding non-recurring gains, was 66.7 million yuan [2][3]. Group 2: Market Position and Clients - The company has established itself as a supplier to the top three global mobile communication equipment manufacturers: Huawei, Ericsson, and Nokia, with market shares of 49%, 21%, and 20% respectively as of 2018 [5][6]. - The company has a strong vertical integration advantage in the filter sector, having focused on this field for nearly 30 years [6]. Group 3: Strategic Investments - The company has set up an investment fund, with a 42% stake in the Changsha Huaye High-tech Private Equity Fund, amounting to 84 million yuan [4]. - Investments have been completed in Shenzhen Noxinbo Communications Co., Ltd. and Ningbo Jujia New Materials Technology Co., Ltd. [4]. Group 4: R&D and Production - The company is advancing its 5G ceramic dielectric filter development according to a milestone plan, with some models already in mass production [4][5]. - The company is optimizing production processes to enhance efficiency and yield rates [5]. Group 5: Financial Management - The average collection period for accounts receivable is 75 days for Huawei and approximately 90 days for Ericsson and Nokia, ensuring timely cash flow [6].