Financial Performance - The company's revenue for the first nine months of 2019 reached 629 million yuan, a year-on-year increase of 35.87% [3] - Net profit attributable to shareholders was 240 million yuan, reflecting a growth of 35.1% year-on-year [3] - In Q3 2019, revenue was 226 million yuan, with a year-on-year growth of 47.32%, and net profit was 59.6 million yuan, up 22.94% year-on-year [3] Order Growth and Market Demand - Orders from high-reliability market customers increased by approximately 25% to 30% compared to the same period last year, with a relatively even distribution across quarters [3] - The demand for high-reliability market orders is closely related to national expense policies and project progress, with expectations to maintain or increase growth [3] Investment Returns - The company's investment income primarily comes from the exit of the Suzhou Hengchen Jiuding Fund project, generating approximately 41 million yuan in investment income (unaudited) [4] - The company also invests idle funds in short-term principal-protected bank wealth management products, aiming to maximize returns for the company and shareholders [5] Future Growth Points - The company is a leader in the domestic high-reliability tantalum capacitor market, with stable market share and order growth, relying on increased spending in the high-reliability market [5] - New product growth areas include multilayer ceramic capacitors, power modules, and chip products, which have shown significant growth after years of market development [5] - Future focus will be on developing high-voltage, large-capacity multilayer ceramic capacitors and enhancing product lines in this field [6] Product Development - The company plans to enhance its product offerings in the single-layer ceramic capacitor sector, particularly for applications in 5G communication and sensors [6] - Other product lines include inductors, resistors, high-power film capacitors, and power management chips, with a focus on domestic innovation and leading technology [7]

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-2019-014 | --- | --- | |----------------|-------------------------------------------------| | | £ 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） 华创证券 2019 秋季策略会 | | | 华创证券 聂曦、王卓星 | | | 华夏基金 胡斌 | | 参与单位名称及 | 国都证券 朱天辉 | | | 工银瑞信 李劭钊 | | 人员姓名 | 泰康资产 段中喆 | | | 建信基金 黄斐玉 | | | 新华基金 周晓东 | | 时间 | 2019 年 9 月 3 日 14:30-16:30 | | 地点 | 北京金融街丽思卡尔顿酒店 | | --- | --- | |-----------------------|---------------------------------------- ...

Group 1: Financial Performance - In the first half of 2019, the company achieved operating revenue of 403 million CNY, a year-on-year increase of 30.19% [3] - The net profit attributable to shareholders was 180 million CNY, a year-on-year increase of 39.66% [3] - Traditional tantalum capacitor business generated revenue of 303.92 million CNY, accounting for 75.42% of total operating revenue, with a year-on-year growth of 17.14% [3] Group 2: Product Growth - Non-tantalum capacitor products showed rapid growth, with notable increases: circuit module revenue up 122.10%, film capacitors up 96.29%, resistors up 106.4%, ceramic capacitors up 66.15%, inductors up 57.43%, and single-layer ceramic capacitors up 47.93% [3] - The growth in other product lines is attributed to diversification efforts initiated in 2014 and 2015, leading to significant market expansion [4] Group 3: Competitive Advantages - The company holds multiple qualifications and certifications in the high-reliability sector, including various production lines for tantalum capacitors and ceramic capacitors [4] - As a national high-tech enterprise, the company possesses strong R&D capabilities and the ability to create differentiated products, which enhances its competitive edge [5] - The company has established itself as a qualified supplier for most high-reliability tantalum capacitor users, with a limited number of domestic competitors [5] Group 4: Market Expansion - The company is actively expanding into civilian product markets, focusing on sectors such as 5G communications, automotive electronics, artificial intelligence, and the Internet of Things [6] - The shift from agency-based sales to direct sales to manufacturers is aimed at increasing market penetration [6] - The domestic demand for electronic components is expected to grow significantly due to increasing applications of new technologies and ongoing international trade tensions [7] Group 5: Future Growth Points - Key future growth areas include multilayer ceramic capacitors, single-layer capacitors, and other electronic components such as inductors and resistors [8] - The company plans to enhance its production capacity and market influence in multilayer ceramic capacitors by investing in talent and expanding production capabilities [8] - Ongoing development in various product lines aims to achieve domestic innovation and leadership in technology [9] Group 6: Management and Employee Welfare - The management team consists of experienced professionals in technology, business, and finance, ensuring stable company operations [11] - The company offers competitive salaries and a comprehensive benefits package to enhance employee satisfaction and retention [12] - There are no current plans for an equity incentive program, but the company acknowledges its potential positive impact on long-term development [12] Group 7: Accounts Receivable and Investment Returns - The accounts receivable cycle is generally within 12 months, with a low risk of impairment due to the high credit quality of specialized product customers [13] - Investment income in the first half of 2019 primarily came from the exit of a fund project and short-term bank wealth management [13] - The company aims to maximize the value of its funds while considering investment risks to provide returns to shareholders [13] Group 8: Seasonal Trends - The company's main products are less affected by seasonal fluctuations, with sales typically peaking in the second half of the year due to procurement cycles [14]

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-2019-022 | --- | --- | |----------------|-----------------------------------------------------------| | | | | | √ 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 | 中国国际金融股份有限公司 王心一 | | 人员姓名 | 株洲市国投创新创业投资有限公司 綦源、匡昱蒽 | | 时间 | 2019 年 9 月 25 日 9:30-10:30 | | 地点 | 株洲市天元区渌江路 2 号公司 6 号楼 202 会议室 | | 上市公司接待人 | 董事会秘书：曾垒 | | 员姓名 | 证券事务专员：郑雁翔 | | 投资者关系活动 | 主要活动综述： | | 主要内容介绍 | 一、播放公司 PPT 资料； | | --- | --- | |----- ...

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-2019-027 | --- | --- | |----------------|-----------------------------------------------------------| | | | | | √ 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 | 中航证券 王宏涛、宋子豪、宋博 | | 人员姓名 | | | 时间 | 2019 年 11 月 15 日 10:00-11:30 | | 地点 | 株洲市天元区渌江路 2 号公司 6 号楼 202 会议室 | | 上市公司接待人 | 董事会秘书：曾垒 | | 员姓名 | 证券事务代表：郑雁翔 | | 投资者关系活动 | 主要活动综述： | | 主要内容介绍 | 一、播放公司 PPT 资料； | | --- | |--------------------------------- ...

Group 1: Company Overview - Huada Electronics is a high-tech enterprise focusing on tantalum capacitors and military electronic components, with over 20 years of experience in R&D and production [5] - The company has multiple advanced production lines and a comprehensive quality inspection system [5] - Huada Electronics is recognized as a leading manufacturer of military tantalum capacitors in China [5] Group 2: Financial Performance - The company's revenue from specialized products has seen a decline in proportion to total sales, attributed to the growth in civilian product sales [6] - In the first half of 2019, the company reported a revenue increase of 30.19% compared to the previous year [17] - Significant growth in various product lines: circuit modules up 122.10%, film capacitors up 96.29%, resistors up 106.4%, ceramic capacitors up 66.15%, and inductors up 57.43% [14] Group 3: Production Capacity and Expansion - The company has expanded production capacity for high-energy tantalum hybrid capacitors and new low ESR organic polymer capacitors, completed in May 2019 [6][18] - Future capacity expansion is planned to meet market demand over the next three to five years [6] Group 4: R&D and Innovation - In 2019, the company increased R&D investment, with 13 new projects initiated, including a new supercapacitor project [19] - R&D expenses in the first half of 2019 reached 20.064 million yuan, an increase of 85.57% year-on-year [19] Group 5: Market Strategy and Customer Base - The company is focusing on expanding its civilian product market, particularly in 5G communications, automotive electronics, artificial intelligence, and the Internet of Things [15] - Huada Electronics has established a solid sales network covering high-reliability users, primarily through direct sales [20] Group 6: Future Outlook - The company aims to maintain its core focus on tantalum capacitors while exploring horizontal expansion into other electronic components and circuit modules [25] - The strategic goal is to build a high-reliability electronic group with core technologies and significant influence [26]

Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, sales, and related services of high-reliability electronic components and circuit modules, with over 20 years of experience in the industry [3]. - The company has advanced production lines and a complete quality inspection system, holding multiple core technologies and patents, particularly in tantalum capacitors [3]. Financial Performance - In the first half of 2020, the company achieved a revenue of ¥51,973.93 million, representing a year-on-year growth of 28% [3]. - The net profit attributable to the parent company was ¥17,058.01 million, a growth of 24.13% after excluding non-recurring gains and losses [4]. - Revenue from tantalum capacitor business was ¥34,117.39 million, up 12.26% year-on-year, while non-tantalum capacitor business revenue surged to ¥17,514.59 million, marking an 81.48% increase [4]. Product Segmentation - Revenue from high-reliability products accounted for nearly 90% of total income, while civilian products made up about 10% [4]. - The gross margin of non-solid tantalum capacitors is higher than that of solid tantalum capacitors due to the nature of the products and market conditions [5]. Order and Production Insights - The company experienced a recovery in orders in the second quarter of 2020 after initial delays due to the pandemic, with a significant increase in demand for high-reliability electronic components [6]. - The order fulfillment process is complex, involving multiple levels of suppliers, leading to a longer payment cycle of approximately 12 months [6]. Future Expansion Plans - The company is expanding its production capacity to meet growing market demands, particularly for tantalum capacitors and polymer capacitors [7]. - New production bases are being established, including a project in Xiangxiang for civilian electronic components, expected to double existing production capacity [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-2020-030 | --- | --- | |----------------|--------------------------------------------| | | | | | £ 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 长江证券 -2020 年 秋季策略会 | | | 长江证券 杨晨 | | 参与单位名称及 | 光大保德基金 陈飞达 | | | 华泰柏瑞基金 董辰 | | 人员姓名 | 兴证全球基金 沈度 | | | 北京源乐晟资产管理 余高 | | 时间 | 2020 年 9 月 11 日 11:00-12:00 | | 地点 | 上海 | | 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 | 一、公司基本情况简介 | | --- | --- | |--------------|------------------ ...

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-2020-031 | --- | --- | |----------------|---------------------------------------------------------| | | | | | £ 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 信达证券 - 宏达电子 2020 年 第三季报业绩电话会 | | | 信达证券 张润毅、应昭衍 | | 参与单位名称及 | 常春藤资产 程熙云 | | 人员姓名 | 宝盈基金 李健伟、曹潜 | | | 深圳恒锐资本 刘庆忠 等 | | 时间 | 2020 年 10 月 21 日 17:00-18:00 | | 地点 | 电话会议 | | 上市公司接待人 | | | 员姓名 | 证券事务代表 郑雁翔 | | 投资者关系活动 | 一、投资者交流提问 | | --- | --- | |--------------|------- ...

Financial Performance - In the first three quarters of 2020, the company achieved operating revenue of 937 million CNY, a year-on-year increase of 49.03% [3] - The net profit attributable to shareholders was 336 million CNY, up 39.99% year-on-year [3] - In Q3 alone, operating revenue reached 417 million CNY, marking an 84.76% increase compared to the same period last year [3] - The net profit for Q3 was 145 million CNY, with a year-on-year growth of 143.04% [3] Product Revenue Growth - Revenue growth for high-reliability products exceeded 35%, while civil products saw a growth rate of around 70% [4] - Tantalum capacitors experienced a growth rate of over 25%, whereas non-tantalum products had an average growth rate exceeding 100% [4] - The absolute revenue increase from non-tantalum products surpassed that of tantalum capacitors, indicating a shift in growth drivers [4] Subsidiary Performance - Major subsidiaries contributing to growth include GuanTao Electronics (MLCC production) and HongWei Electronics (power module production), both showing significant revenue increases [4] - The subsidiary producing SLCC, HongDa HengXin, reported over 100% growth in the civil communication sector [5] - Revenue from subsidiary products accounted for over 35% of the company's total revenue [5] Capacity and Development Plans - Current capacity for tantalum capacitors meets operational needs, with ongoing monitoring of market demand for capacity adjustments [5] - The company has initiated planning for the "14th Five-Year Plan" period, focusing on maintaining leadership in high-reliability tantalum capacitors while investing in MLCC, SLCC, and power module products [5] - The company aims to enhance production capabilities and technical development to become a diversified platform for electronic components [6] Competitive Advantages - The company possesses core technologies and patents for high-end capacitors, which are expected to strengthen its market position [7] - Compared to state-owned enterprises, the company benefits from a more flexible mechanism and higher marketization as a private entity [7] - The company is actively recruiting talented teams to enhance R&D capabilities and expedite the launch of new products [8] Project Progress - Ongoing construction for the Xiangxiang and Zhuzhou Gaoke Park projects, which will relocate production lines for civil tantalum capacitors and other products to meet capacity expansion needs [8] - The company follows an open platform development model to foster growth in subsidiaries and quickly introduce new products to the market [9]