Group 1: Business Segments Overview - The company has integrated its operations into three main segments: digital set-top box business, military industry, and new energy vehicle-related business [2][3]. - The digital set-top box business is expected to maintain stable growth in the coming years [3]. - The military industry segment is projected to experience steady and rapid growth due to stable demand in national defense construction [3][4]. Group 2: Military Product Development - The main products of Tongzhi Electromechanical include intelligent power systems, intelligent distribution systems, and vehicle-mounted motor equipment, which have shown stable growth [3]. - New products currently in mass production include vehicle-mounted black boxes and training simulators, with confidence in exceeding performance commitments based on existing orders and R&D investments [3][4]. Group 3: Future Development Plans - The company aims to maintain its competitive position in the intelligent digital multimedia terminal market while seizing opportunities in military-civilian integration and expanding military business scale [4]. - The company plans to accelerate its layout in the new energy electric vehicle sector to enhance profitability and core competitiveness [4][5]. Group 4: Policy Impact on New Energy Vehicles - Supportive national policies are crucial for the development of the new energy vehicle industry, facilitating market expansion and technological advancement [4][5].

Group 1: Company Overview - Jiangsu Galaxy Electronics Co., Ltd. has integrated its business into three main segments: digital set-top boxes, military industry, and new energy vehicles [3] - The digital set-top box business is expected to maintain stable growth in the coming years [3] - The military business is projected to grow steadily due to stable demand in national defense construction [3] Group 2: Product Development - The company has seen significant growth in orders for air conditioning compressors, primarily serving Jianghuai Automobile, due to the rapid development of the new energy vehicle industry [3] - The electric air conditioning product line is expected to continue steady growth in the coming years [3] - Charging station products are developed in-house, with software focused on backend management systems and hardware centered on power modules [4] Group 3: Automation and Manufacturing - Following the acquisition of Fujian Junpeng, the company has begun integrating automation technology to enhance production efficiency and reduce costs [4] - Investments in smart manufacturing technology will be increased to achieve further informationization and intelligent management [4] Group 4: Military Product Development - The military products of Tongzhi Electromechanical mainly include intelligent power systems and distribution systems, applied in armored and special vehicles [5] - New products such as vehicle black boxes and training simulators have entered mass production [5] - Tongzhi Electromechanical has obtained secondary confidentiality qualification and is awaiting certification [5]

Group 1: Business Segments Overview - The company has integrated its operations into three main business segments: digital set-top boxes, smart electromechanical equipment, and key components for new energy vehicles [1][2] - The digital set-top box business is expected to maintain a stable performance in the coming years [2] - The smart electromechanical equipment segment, including military and structural components, is projected to grow steadily due to modernization demands in national defense [2] Group 2: Military Product Development - The existing military products from Tongzhi Electromechanical are primarily smart power systems, smart distribution systems, and vehicle-mounted motor equipment, which are experiencing stable growth [2][3] - The military product business is expected to continue its steady growth based on current orders and the number of standardized products [2] Group 3: Charging Station Business - The company's charging station business has seen a decline compared to the same period last year, influenced by national investigations into subsidies for new energy vehicles [2][3] - Despite the decline, the company's operations related to new energy vehicles, including research and production, are proceeding as planned [3] Group 4: New Energy Development Focus - The current focus on new energy development includes products such as charging stations, onboard chargers, charging modules, air conditioning compressors, and structural components for power batteries [3] Group 5: Strategic Partnerships - The participation of two major state-owned enterprises, the Ordnance Group and the Armament Group, in the company's private placement is based on mutual trust and selection [3]

Group 1: Set-Top Box Business - The set-top box (STB) is a crucial entry point for home entertainment, with significant demand from internet, broadcasting, and telecom operators [3] - The company anticipates growth in STB business this year compared to the same period last year, benefiting from increased demand from telecom operators [3] - The overall gross margin for STB products remains stable [3] Group 2: Military Products - The military product line primarily includes smart power systems, smart distribution systems, and vehicle-mounted motor equipment, with stable growth in existing products [4] - The military product development process is lengthy and requires high technical standards and military approval, which creates a competitive advantage [4] - The company expects steady growth in military business due to modernization needs in national defense [4] Group 3: Charging Station Business - The charging station business has seen a decline compared to the same period last year, influenced by national investigations into subsidies for new energy vehicles [5] - Despite the decline, the company’s related operations in new energy vehicles are progressing as planned [5] Group 4: Long-term Challenges - The company identifies technology and product development as core competitive factors, with risks arising if they fail to meet market demands [5] - To enhance core competitiveness, the company plans to attract more skilled technical personnel through the establishment of a research and development center [5]

Group 1: Company Financial Performance - The company reported a profit growth in Q1 2016 primarily due to the performance of its wholly-owned subsidiary Fujian Junpeng and overall good operating conditions across various business segments [3] - The non-public issuance of shares is currently under normal review by the China Securities Regulatory Commission [2] Group 2: Business Development in New Energy Sector - The company is actively involved in the new energy sector, focusing on charging pile business, power supply modules, onboard chargers, onboard power supply modules, onboard air conditioning compressors, and structural components for power batteries [3] - The electric air conditioning compressor products are primarily supplied to Jianghuai Automobile, with expectations for steady growth in this product line due to the rapid development of the new energy vehicle industry [3] Group 3: Set-Top Box and Internet Device Market - Demand for wired and satellite set-top boxes remains stable, but growth is slowing; however, there is a significant increase in demand for IPTV and OTT internet devices from telecom operators [4] - The market for internet smart terminals is expected to grow rapidly due to the entry of domestic cable operators into the DVB+OTT operational model [4] Group 4: Military and Subsidiary Business Performance - The overall business of Tongzhi Electromechanical is maintaining steady growth [4] - Fujian Junpeng is performing well, benefiting from the rapid growth of the new energy electric vehicle industry [4]

Group 1: New Energy Development - The company's current focus in new energy is on key components for electric vehicles, including charging piles, onboard chargers, charging modules, air conditioning compressors, and power battery structural parts [2][3] - The charging pile business has seen a decline compared to the same period last year due to national investigations and industry factors, but is expected to grow steadily in the coming years [3] - The onboard charger market is anticipated to have significant demand growth over the next 3-5 years, with the company actively preparing relevant technologies and products [3] Group 2: Battery Structure Components - The business for power battery structural parts is benefiting from the rapid growth of the electric vehicle industry, with good order conditions and expected continued rapid growth in the coming years [4] Group 3: Automation and Production Capacity - The company has completed the first phase of automation transformation, significantly increasing production capacity and is actively expanding its customer base [4] Group 4: Military Products and Collaborations - The military product line from Tongzhi Electromechanical is experiencing stable growth, primarily focusing on smart power systems and vehicle-mounted motor equipment, with expectations for continued steady growth [4][5] - Collaborations with major state-owned enterprises are based on mutual trust and selection [5] Group 5: Set-Top Box Business - The set-top box business is expected to grow this year compared to last year, driven by increased demand from telecom operators [5] Group 6: Future Development Plans - The company aims to diversify its main business by investing in military and new energy electric vehicle components while also developing intelligent, automated, and information-based products [5]

Business Segments Overview - Digital Set-Top Box Business: The company maintains stable performance, recently winning a procurement project worth 110 million from China Mobile, which is expected to positively impact next year's set-top box performance [1][2] - Military Industry: The company anticipates steady growth in military products, particularly in vehicle-mounted electromechanical products, based on current orders and product types [2] - New Energy Vehicle (NEV) Related Business: The charging pile business has seen a decline compared to last year due to government investigations into subsidies. However, the company expects steady growth in the charging pile business in the coming years and sees significant demand for onboard chargers in the next 3-5 years [2][3] Product Breakdown and Key Clients - Charging Equipment: The main client for electric vehicle charging equipment is Luoyang Jiasheng Power Technology Co., which handles products like charging piles and onboard chargers [3][4] - Electric Air Conditioning Compressors: Jianghuai Automobile is a key client for this product line, which is part of the company's NEV offerings [4] - Battery Structural Components: The company has good order conditions for battery structural components, benefiting from the rapid growth of the electric vehicle industry [3] Impact of Subsidy Investigations - Temporary Impact: The company predicts that the effects of subsidy investigations will be temporary, with expectations of a rebound in NEV business next year [4] - Long-term Benefits: The reduction of subsidies is seen as beneficial for the industry, promoting technological advancement and eliminating less competitive companies [4] Strategic Planning - Focus on Military and NEV Industries: The company plans to prioritize the development of military and NEV-related industries through internal growth and acquisitions [6] - Recent Acquisitions: The company has strategically acquired companies like Jiasheng Power and Fujian Junpeng to enhance its capabilities in the NEV sector [6]

Group 1: Business Performance - The company's set-top box business experienced a significant decline in Q1 due to a sharp increase in raw material costs, including DDR memory, FLASH memory, PCB circuit boards, and steel, with semiconductor material prices doubling since last year [3] - The company is implementing cost control measures through tendering for raw materials and adjusting procurement strategies to manage costs effectively [3] - Sales strategies include communicating with clients to adjust prices to offset some of the raw material cost increases, with some broadcasting operators already raising purchase prices [3] Group 2: Future Business Focus - The company plans to focus on military and new energy electric vehicle components to expand these emerging sectors in response to the decline in the set-top box business [3][5] - The impact of new energy vehicle subsidy policies has slowed down the procurement of charging equipment, but the company expects a recovery in business volume and profitability in the second half of 2017 as customer orders increase [4] - The company is also enhancing its core competitiveness by leveraging opportunities in the military-civilian integration and the rapid development of the new energy vehicle industry [5] Group 3: Production Developments - The company’s subsidiary, Fujian Junpeng, has seen a reduction in business volume in Q1 but is now operating at full capacity with new production lines expected to drive rapid growth from June to the end of the year [4] - The business of Tongzhi Electromechanical is stable, with a variety of established product types and models, indicating continued steady development in military products [4]

Group 1: Business Performance - The company's set-top box business experienced a significant decline in Q1 due to a sharp increase in raw material costs, including DDR memory, FLASH memory, PCB circuit boards, and steel, with semiconductor material prices doubling since last year [3] - The company plans to manage procurement costs through bidding for raw materials and will communicate with clients to adjust prices to offset the impact of rising raw material costs [3] - The company aims to improve profitability in the set-top box business by enhancing cost management and reducing waste through efficiency measures [3] Group 2: Future Business Focus - The company will focus on expanding its military and new energy electric vehicle component businesses to counteract the decline in the set-top box sector [3] - Fujian Junpeng's business volume decreased in Q1 but is expected to grow rapidly from June to the end of the year due to industry recovery and new production lines coming online [4] - Jiasheng Power's business volume significantly decreased in Q1 due to new energy vehicle subsidy policy changes, but is anticipated to recover in the second half of the year as customer orders increase [4] Group 3: Strategic Planning - The company is implementing cost-cutting reforms in the set-top box business while focusing on expanding its military and new energy sectors to enhance profitability and core competitiveness [5]

证券代码：002519 证券简称：银河电子 江苏银河电子股份有限公司投资者关系活动记录表 编号：2017-010 | --- | --- | --- | |-----------------------------|-----------------------------|--------------------------------------------------| | | | | | 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 | 银河基金管理有限公司 何思源 | | | 时间 | 2017 年 8 月 17 | 日 上午 | | 地点 | 公司行政研发大楼一楼会议室 | | | 上市公司接待人 员姓名 | | 董事会秘书吴刚先生、证券事务代表徐鸽先生 | | 投资者关系活动 主要内容介绍 | 如何？ | 1、目前公司机顶盒业务经营情况如何，预计全年情况 | | | | 今年上半年，公司机顶盒业务大 ...