Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, and sales of reliable electronic components and circuit modules, with over 20 years of experience in the industry [2][3]. - The company has advanced production lines and a comprehensive quality inspection system, holding multiple core technologies and patents in electronic components, particularly in tantalum capacitors [3]. Financial Performance - In the first half of 2020, Hongda Electronics achieved a revenue of ¥519.74 million, representing a year-on-year growth of 28.99% [4]. - The net profit attributable to the parent company, after deducting non-recurring gains and losses, was ¥170.58 million, up 24.13% year-on-year [4]. - Revenue from tantalum capacitor business reached ¥341.17 million, with a growth of 12.26%, while non-tantalum capacitor business saw a significant increase of 81.48%, generating ¥175.15 million [4]. Product Development and Market Expansion - The company is focusing on expanding its overseas market, primarily through civil tantalum capacitors, leveraging opportunities created by supply shortages due to the pandemic [5]. - The revenue from civil tantalum capacitors accounts for less than 10% of total revenue, indicating limited impact on overall gross margin and net profit from price changes in this segment [5]. - Hongda Electronics is committed to increasing investment in the 5G communication sector, enhancing product offerings, and expanding production capacity to improve market share and competitiveness [5][6]. Capacity Expansion Plans - The company is expanding its production base in Xiangxiang, focusing on civil electronic components, with plans to double production capacity upon project completion [6]. - In Zhuzhou, a new production base is being established to accommodate larger-scale production of various electronic components, including MLCC and power microcircuits [6]. Product Advantages - The polymer tantalum capacitors offer advantages over traditional manganese dioxide tantalum capacitors, including improved safety, better performance under reduced voltage, and enhanced reliability, aligning with the trends in electronic technology development [7].

编号：JL-2020-015 证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 | --- | --- | |----------------|-----------------------------------------------------------------| | | √ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | £ 其他（请文字说明） | | 参与单位名称及 | 方正证券 陈月 | | 人员姓名 | | | 时间 | 2020 年 6 月 12 日 14:30-15:30 | | 地点 | 湖南省株洲市天元区渌江路 2 号公司 6 号楼 301 会议室 | | 上市公司接待人 | 董事会秘书、财务负责人 曾垒 | | 员姓名 | 证券事务代表 郑雁翔 | | --- | --- | |----------------|----------------------------------------------------------| ...

Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, and sales of high-reliability electronic components and circuit modules, with over 20 years of experience in the industry [2][3] - The company has advanced production lines and a complete quality inspection system, holding multiple core technologies and patents, particularly in tantalum capacitors [3] Product Range - The product portfolio includes tantalum capacitors, multilayer ceramic capacitors (MLCC), film capacitors, aluminum capacitors, supercapacitors, inductors, transformers, resistors, microwave components, and power management chips [3] - The company serves high-reliability sectors such as automotive, aerospace, and communication, aiming to establish itself as a leading group in high-reliability electronic components [3] Market Share and Competition - In the capacitor industry, MLCC holds the largest market share, while tantalum capacitors, despite their higher costs, maintain a stable market presence due to their reliability and performance advantages [4] - The domestic market for MLCC has a higher localization rate compared to tantalum capacitors, especially in civilian applications [4] Development in Civilian Market - The company is increasing investments in civilian tantalum capacitors, targeting sectors like communication, automotive electronics, artificial intelligence, and the Internet of Things [5] - The production equipment is primarily domestically sourced, with some high-end equipment imported, and the automation level varies between civilian and high-reliability products [5][6] Pricing Trends - The pricing of civilian products is influenced by market supply and demand, with a noted increase in prices due to shortages in the first half of the year [6] - High-reliability tantalum capacitor prices remain stable, with no significant fluctuations expected in the near future [6] Capacity Expansion - The company is expanding its production capacity based on actual market demand, with a new production base for civilian electronic components in Xiangxiang, expected to meet large-scale production needs [7] - An investment of no less than 1.5 billion yuan is planned for expanding production capacity in Zhuzhou [7]

Group 1: Impact of COVID-19 on Orders - The domestic pandemic has delayed the resumption of work for downstream customers, but demand has not decreased due to the strong planning nature of the high-reliability industry. The first quarter orders still showed growth compared to the same period last year [3]. - Orders in March and April exhibited a compensatory growth trend, indicating that the pandemic is not expected to impact the annual performance [3]. Group 2: Production and Delivery Cycle - High-reliability electronic components are characterized by small batch and multiple batches, leading to varying production cycles based on customer demand and product complexity. Products in stock can be delivered in about three days, while others depend on inspection and acceptance processes, resulting in longer delivery cycles [4]. Group 3: Future Development Strategy - The company aims to focus on electronic components and microcircuit modules over the next three to five years, leveraging its sales and management platforms, funding resources, and product incubation capabilities to strengthen existing products and diversify its offerings [5]. - The company is also actively expanding into civilian markets, particularly in 5G communications, automotive electronics, artificial intelligence, and the Internet of Things, enhancing production capabilities for products like single-layer ceramic capacitors and tantalum capacitors [5]. Group 4: Market Expansion in Civilian Sector - In 2020, the company plans to increase investment in civilian markets, particularly in high-end customers for tantalum capacitors, by upgrading production processes and shifting to a direct sales model [5]. - A new production base for civilian tantalum capacitors is being established in Xiangxiang to expand production capacity [5]. Group 5: Subsidiary Development and Capital Operations - The company is fostering an open platform development model to support the growth of subsidiaries, allowing them to operate independently and potentially pursue capital market opportunities if they achieve rapid growth [6]. Group 6: Product Growth Trends - The company anticipates stable demand for tantalum capacitors, which will remain the main revenue source, while MLCC and power module products are expected to experience significant growth due to their market expansion phase [7]. - The company has completed the R&D of high polymer aluminum capacitors and is establishing production lines, with market promotion planned for 2020 [8].

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-009 | --- | --- | |-----------------------------|----------------------------------------------------------| | | | | | £ 特定对象调研£分析师会议 | | 投资者关系活动 | £ 媒体采访£业绩说明会 | | 类别 | £ 新闻发布会 £ 路演活动£现场参观 | | | √ 其他 华创证券 - 宏达电子 2020 年一季报业绩电话交流会 | | 参与单位名称及 | 华创证券 卫喆、王卓星 | | 人员姓名 | 泰康资产 段中喆 等投资者 | | 时间 | 2020 年 5 月 8 日 9:30-10:15 | | | | | 地点 | 电话会议 | | 上市公司接待人 员姓名 | 董事会秘书、财务负责人 曾垒 | | 投资者关系活动 主要内容介绍 | 投资者与公司就 2020 年一季报业绩进行交流。 | | 附件清单 | 会议具体内容详见附件 | （如有） 日期 2020年5月8 ...

Group 1: Company Overview and Financial Performance - The company reported a revenue of 844.04 million yuan in 2019, with nearly 90% of the revenue coming from high-reliability products [10] - The revenue from non-tantalum capacitor products exceeded 180 million yuan in 2019, showing a year-on-year growth of 76.52% [5] - The company’s operating income from tantalum capacitors grew by approximately 20% year-on-year [5] Group 2: Market Position and Product Development - The company is a leading manufacturer of high-reliability tantalum capacitors in China, with a strong competitive edge in the market [10] - The company plans to invest in expanding its production capacity for tantalum capacitors and other new products to enhance market share and competitiveness [10] - The company has completed the construction and trial production of its supercapacitor project, with plans for market promotion in 2020 [17] Group 3: Investment and Expansion Plans - The company is investing in an electronic component production base in Xiangxiang Economic Development Zone [5] - Future investments will be based on actual development needs and potential strategic resources from investors [5] - The company is considering horizontal expansion into other electronic components and circuit modules while focusing on its core tantalum capacitor business [16] Group 4: Challenges and Risk Management - The company faces challenges with long accounts receivable periods due to the complexity of the supply chain in the high-reliability product sector [7] - Despite the long collection periods, the company maintains a low debt ratio and has no interest-bearing liabilities, ensuring cash flow stability [17] - The company anticipates that the overall demand from customers will not decline, and it expects to recover normal operations post-pandemic [11] Group 5: Future Outlook and Strategic Focus - The company aims to strengthen its position in high-reliability products while actively exploring opportunities in consumer markets, particularly in 5G communications, automotive electronics, and artificial intelligence [13] - The company’s future product development will primarily focus on self-research, with an emphasis on maintaining its technological advantages [17] - The expected contribution from the 5G sector is anticipated to grow, with specific impacts depending on customer orders [17]

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-011 | --- | --- | |----------------|--------------------------------------------| | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √其他 2020 年中信建投春季上市公司见面会 | | | 中信建投 刘永旭、杨广、梁希平、史江山 | | 参与单位名称及 | 方正证券 李红生 | | | 中信金融 刘辉 | | 人员姓名 | 嘉实基金 谢泽林 | | | 深圳悟空投资 圣亚军 等 | | 时间 | 2020 年 5 月 20 日 15:30-16:00 | | 地点 | 电话会议 | | 上市公司接待人 | | | 员姓名 | 董事会秘书、财务负责人 曾垒 | | --- | --- | |----------------|------------------------------| | | | ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-003 | --- | --- | |----------------|---------------------------------------------------------| | | | | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √ 其他 兴业证券 - 宏达电子 2019 年报 解读电话交流会议 | | | 兴业证券 李博彦、石康 | | | 中邮基金 徐鸿博 | | | 信诚基金 孙浩中 | | 参与单位名称及 | 兴全基金 李扬 | | | 凯石基金 赵晨凯 | | 人员姓名 | 南方基金 罗安安 | | | 嘉实基金 张宇驰 | | | 富国基金 肖威兵 | | | 新华基金 周晓东 等 | | 时间 | 2020 年 3 月 12 日 20:30-21:30 | | 地点 | 电话会议 | | --- | --- | |--------------- ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-008 | --- | --- | |----------------|----------------------------------------------------------| | | | | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £现场参观 | | | √ 其他 中信证券 - 宏达电子 2020 年一季报业绩电话交流会 | | 参与单位名称及 | 中信证券 付宸硕 | | 人员姓名 | 华商基金 刘力 杨志栋 等 | | 时间 | 2020 年 4 月 30 日 13:30-14:00 | | 地点 | 电话会议 | | 上市公司接待人 | | | 员姓名 | 董事会秘书、财务负责人 曾垒 | | 投资者关系活动 | | | 主要内容介绍 | 投资者与公司就 2020 年一季报业绩进行交流。 | | 附件清单 | 会议具体内容详见附件 | （如有） 日期 2020年4月 30日 附 ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-004 | --- | --- | |----------------|--------------------------------------------------| | | | | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √ 其他 华创证券 - 宏达电子 2019 年报解读电话会 | | | 华创研究所 卫喆、王卓星 | | | 厦门京道产业基金 宋瑾 | | 参与单位名称及 | 光大保德信 林晓枫 | | 人员姓名 | 西部利得 温震宇 | | | 国信资管 贺东伟 | | | 顶天投资 魏颖 | | 时间 | 2020 年 3 月 13 日 10:00-11:00 | | 地点 | 电话会议 | | 上市公司接待人 | 董事会秘书、财务负责人 曾垒 | | --- | --- | |----------------|---------------------- ...