Company Overview - Shenzhen Zhuoyue Technology Co., Ltd. was established in February 2004 and listed on the Shenzhen Stock Exchange in 2010. The main business includes R&D, manufacturing, and sales of network communication and consumer electronics products, adhering to the "ODM+EMS" business model [1] - The company has developed customer, quality, technology, and service advantages, establishing a sustainable innovation management team [1] Product Categories and Revenue - The company's products are divided into two main categories: network communication products and consumer electronics. Network communication products account for a significant portion of overall revenue, while consumer electronics have seen rapid growth, particularly with the successful acquisition of Double Power, enhancing sales of tablets under the brand "DOPO" in the U.S. [2] - According to the 2014 semi-annual report, the revenue from consumer electronics has nearly doubled in proportion to total revenue compared to two years ago, improving overall profitability [2] Clientele and Product Segmentation - Major network communication products include DSL, gateways, routers, and data cards, with key clients such as Huawei, ZTE, and D-LINK. Consumer electronics include smartphones and tablets, primarily sold to Lenovo, OPPO, and others [2] - The company has made significant strides in smart home and wearable technology, collaborating with Samsung and Gree, and producing Xiaomi smart bands through its subsidiary Tianjin Zhuoda [3] Major Clients - The top five clients in the first half of 2014 were Huawei, Medion, Shanghai Bell, Zimi Electronics, and ZTE. Each client has specific collaboration areas, such as DSL and mobile power production [3] Production Capacity - The company operates nearly 60 SMT production lines, with production capacity in Shenzhen becoming tight. To alleviate this, seven SMT lines have been rented from Tianjin Zhuoda [4] - The company is actively promoting smart factory planning and implementing 5S visualization management to enhance production efficiency [4] Financial Performance and Cost Management - The company experienced significant revenue growth in the first half of 2014, but expenses also increased due to higher R&D investment, new client acquisition, and depreciation costs from new equipment [4] - To control costs while maintaining revenue growth, the company is adjusting its business model, upgrading production lines, and enhancing performance evaluation systems [4] Market Risks - The primary risk affecting sales expectations is market variability, particularly in consumer electronics, which are subject to rapid changes in consumer preferences and technology updates [5]

Group 1: Production Capacity and Operations - The company has nearly 60 SMT production lines, primarily Panasonic dual-track high-precision lines, with a current capacity utilization that is tight in Shenzhen but slightly surplus in Tianjin [1] - To alleviate pressure on Shenzhen's capacity, the company is renting two additional SMT production lines from Tianjin and five more to enhance overall equipment utilization [1] Group 2: Product Lines and Business Models - The company employs various business models including EMS, ODM, OEM, and JDM, with major clients for smartphones being OPPO, Huawei, Longqi, and ZTE, focusing on 4G smartphones [2] - The company’s tablet computers are self-developed and primarily sold in overseas markets, achieving good sales under the brand "DOPO" in the U.S. after acquiring Double Power [2] - Collaborations with major companies like Samsung and Gree for Wi-Fi and Bluetooth modules have led to applications in mainstream home appliances [2] Group 3: Market Trends and Growth Factors - The rapid growth in consumer electronics over the past two years is attributed to increased profit levels and the expansion of new business lines [3] - The company has shifted from traditional DSL products to PON and 4G gateway products, resulting in improved sales performance in network communication products [3] Group 4: Financial Performance and Challenges - The revenue from consumer electronics has nearly doubled since 2012, significantly contributing to overall company performance [4] - The company faces a slight decline in gross margin due to increased depreciation costs and rising raw material and labor costs [6] Group 5: Future Strategies and Innovations - To improve profitability, the company plans to adjust its business model towards higher-margin operations, enhance production line automation, and optimize subsidiary management [6] - The company is focusing on R&D in emerging fields such as mobile devices, smart home products, and wearable technology [6] Group 6: Subsidiary Performance and Management - The company has seven wholly-owned subsidiaries, with Tianjin Zhuoda being a key project aimed at expanding business coverage [7] - Current losses in subsidiaries are expected to turn around as the company expands its product offerings and market reach [7] Group 7: Incentive Plans and Management Confidence - The company's stock incentive plan sets performance targets of at least 20% revenue growth and 10% net profit growth for 2014, with the actual profit growth needing to exceed these targets due to incentive costs [9] - The chairman expresses confidence in the company's future, with potential for further stock purchases depending on circumstances [10]

Group 1: Investor Relations Activity - The activity involved a specific audience survey conducted by Macquarie Capital Securities Co., Ltd. [1] - The meeting took place on September 26, 2014, in the internal conference room of Zhuoyue Technology [1] - The company representatives included Ms. Wei Daiying, the Secretary of the Board, and Ms. Liu Ziran, the Securities Affairs Representative [1] Group 2: Main Content of the Meeting - The discussion primarily unfolded in a Q&A format, addressing investors' inquiries regarding the company's products and client situations [1] - The meeting aimed to enhance transparency and provide detailed insights into the company's operations [1]

Group 1: Company Overview - The main business of the company is providing manufacturing services for network communication, consumer electronics, and smart terminal products [2] - Major clients in network communication include Huawei, Zhongxing, and Shanghai Bell, while clients in consumer electronics include MEDION, Haier, and OPPO [2] - Huawei is the longest-standing and largest client, with a diverse range of products from traditional DSL to smart terminals [2] Group 2: Business Strategy - The company aims to deepen relationships with existing clients while actively expanding new clients and businesses [2] - New business focuses on smart wearable devices and smart home products, establishing partnerships with well-known companies like Xiaomi and Samsung [3] - The establishment of a factory in Tianjin is a key investment project to enhance production capacity and expand market coverage [4] Group 3: Financial and Operational Insights - The Tianjin factory is expected to utilize nearly half of its capacity, with further increases anticipated next year [4] - The company has a good risk control mechanism for receivables, with payment terms generally ranging from 60 to 90 days [6] - The company has not experienced significant bad debts, indicating effective financial management [6] Group 4: Future Development Plans - The company plans to focus on ODM business models, leveraging its extensive experience in hardware product development [5] - There are intentions to provide complete automation solutions when conditions are favorable [5] - The company is open to acquiring automation equipment companies as part of its growth strategy [6]

Group 1: Investor Relations Activity - The activity involved a specific audience survey [2] - The meeting took place on October 30, 2014 [2] - The location was the first conference room on the sixth floor of Zhuoyue Technology [2] Group 2: Participants - Participating organizations included China Merchants Securities Co., Ltd., Hanxin Asset Management Co., Ltd., and others [2] - Key representatives from Zhuoyue Technology were Ms. Wei Daiying (Board Secretary) and Ms. Liu Zhiran (Securities Affairs Representative) [2] Group 3: Main Content - The investor relations activity primarily consisted of a Q&A session addressing inquiries about the company's products and clients [2] - The event included a record of investor survey conducted on the same date [2]

Company Overview - Shenzhen Zowee Technology Co., Ltd. was established in February 2004 and listed on the Shenzhen Stock Exchange in 2010. The main business includes R&D, manufacturing, and sales of network communication and consumer electronics products, focusing on an "ODM+EMS" business model [1]. - The company has developed customer, quality, technology, and service advantages, establishing a sustainable innovation management team [1]. Financial Performance - In Q3 2014, the company's revenue increased by 87.8% year-on-year, but profit levels declined due to rising costs and expenses outpacing revenue growth [2]. - Key factors for profit decline include increased R&D investment in emerging products, temporary labor shortages affecting high-margin order delivery, and higher compensation costs due to stock grants [2]. Client Relationships - The top five clients in Q3 2014 are Huawei, Medion, Shanghai Bell, Zimi Electronics, and ZTE [2]. - The company has long-standing partnerships with Huawei and ZTE, while it has recently started working with Zimi Electronics on mobile power products [4]. Production Capacity - The company operates nearly 60 SMT production lines, with tight capacity in Shenzhen and some surplus in Tianjin. Efforts are underway to implement smart factory planning and improve production efficiency [4]. R&D Focus - The company emphasizes technology accumulation and has established R&D teams in Xiamen, Shanghai, and Shenzhen, focusing on mobile handheld devices, smart home products, wearable technology, and 4G products [5]. - Products developed include smartphones, tablets, smart routers, and Wi-Fi modules, with ongoing efforts to enhance competitiveness through rapid productization of emerging technologies [6]. Collaboration with Xiaomi - The company is part of Xiaomi's ecosystem, having produced mobile power banks and smart wristbands for them, with plans for further collaboration in various product areas [7]. Future Development Plans - The company aims to enhance existing business levels and production scale, improve product structure, and cultivate new profit growth points, focusing on an ODM model to increase profitability and risk resistance [9]. - Management is open to potential acquisitions based on market opportunities, ensuring shareholder interests and risk assessments are prioritized [8].

深圳市卓翼科技股份有限公司 投资者调研会议记录 来访时间：2014 年 11 月 12 日 14:00~15:30 会谈地点：卓翼科技内部会议室 调研机构：国信证券股份有限公司、中国银河证券股份有限公司、国金证券股 份有限公司、深圳福润金融服务有限公司 接待人员：董事会秘书魏代英女士 出席人员：魏代英女士，刘芷然女士 记录人员：刘芷然女士 调研内容：主要以问答方式展开（14:00~15:30） 一、问：2014 年前三季度，公司营业收入同比增长 87.8%，但是归属上 市公司股东净利润却同比下滑了 18.72%，请问主要原因是什么？ 答：2014 年三季度，公司的营业收入水平进一步提高，较上年同期增长 87.8%，但由于成本、费用的增长幅度大于收入的增长幅度，三季度的利润水 平较上年同期有所下降，主要有以下几方面因素：(1)公司加大了对平板电脑、 智能手机、智能穿戴设备、智能家居等新兴产品的研发投入，致使研发费用大 幅增加；(2)公司整体销售前景良好，订单量增幅快速，但受制于阶段性的人工 短缺，致使部分高毛利订单的交期后移；(3) 加大了市场业务推广和企业管理， 以及公司为激励对象授予限制性股票增加了一定的薪 ...

编号：2015-001 证券代码：002369 证券简称：卓翼科技 深圳市卓翼科技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 人员姓名 | 公司股东吴东、吴天骄 | | | 时间 | 2015 年 1 月 13 | 日上午 10：00-12：00 | | 地点 | | 天津卓达科技发展有限公司（天津市开发区西区新业一街与 | | | 南环路之间） | | | 上市公司接待人 员姓名 | 证券事务代表：刘芷然 | 天津卓达科技发展有限公司副总经理：韩继玲 | | 投资者关系活动 | | 本次投资者关系活动的主要 ...

Company Overview - Established in February 2004 and listed on the Shenzhen Stock Exchange in 2010 [3] - Main business includes R&D, manufacturing, and sales of network communication, consumer electronics, and smart terminal products [3] - Major clients include Huawei, ZTE, and Lenovo, with products like DSL, PON, smartphones, and tablets [3] Client Relationships - Top clients as of 2014 include Huawei, MEDION, Shanghai Bell, and ZTE [3] - New partnerships with companies like Xiaomi, Samsung, and Gree in emerging product areas [3] - Current production capacity utilization of Tianjin subsidiary is approximately 40-50% [4] Product Development - Focus on ODM and EMS models for customized services [5] - Actively developing wireless products, 4G products, and smart home devices [5] - Significant investment in R&D for smart wearable devices and smart home products [9] Market Trends - Anticipated growth in smart wearable devices and smart home applications in 2015 [9] - The company aims to enhance its manufacturing capabilities through "Industry 4.0" initiatives [6] - Emphasis on adapting to market demands and expanding product lines [8] Financial Performance - Tianjin subsidiary currently in a loss phase due to high initial investments [4] - Future profitability expected as business expands and integrates [4] Strategic Direction - Continuous investment in R&D to strengthen technological capabilities [8] - Plans to explore mergers and acquisitions in the future, though none currently [10] - Positive outlook on the growth of the network equipment and consumer electronics sectors [10]

Group 1: Company Overview - The main business of the company is providing manufacturing services for network communication, consumer electronics, and smart terminal products [2] - Major clients in network communication include Huawei, Zhongxing, and Shanghai Bell, while clients in consumer electronics include MEDION, Haier, and OPPO [2] - Huawei is the longest-standing and largest client, with a diverse range of products from traditional DSL routers to smart terminals [2] Group 2: Market Strategy - The company aims to deepen relationships with existing clients while actively expanding new clients and businesses [2] - A balanced development of traditional and new businesses has been established, focusing on smart wearable devices and smart home products [3] Group 3: Future Development Plans - The company plans to strengthen its ODM business model, leveraging its extensive R&D and manufacturing advantages in hardware products [4] - There is a focus on accumulating experience in smart manufacturing and eventually providing complete automation solutions [4] Group 4: Automation and Efficiency - The company has developed its own automation equipment, which has been implemented in production bases in Shenzhen and Tianjin, improving production efficiency and product quality [5] - The self-developed automation equipment is more cost-effective compared to purchased equipment, leading to significant labor cost savings [5]